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<br />200701757
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<br />Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to
<br />grant and convey the Property, and that the Property is unencumbered, except for encumbrances of
<br />record. Borrower covenants that Borrower warrants and will defend generally the title to the Property
<br />against all claims and demands, subject to encumbrances of record.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal and interest
<br />indebtedness evidenced by the Note and late charges as provided in the Note.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or a written waiver by Lender, Borrower
<br />shall pay to Lender on the day monthly payments of principal and interest are payable under the Note,
<br />until the Note is paid in full, a sum (herein "Funds") equal to one-twelfth of the yearly taxes and
<br />assessments (including condominium and planned unit development assessments, if any) which may attain
<br />priority over this Deed of Trust, and ground rents on the Property, if any, plus one-twelfth of yearly
<br />premium installments for hazard insurance, plus one-twelfth of yearly premium installments for mortgage
<br />insurance, if any, all as reasonably estimated initially and from time to time by Lender on the basis of
<br />assessments and bills and reasonable estimates thereof. Borrower shall not be obligated to make such
<br />payments of Funds to Lender to the extent that Borrower makes such payments to the holder of a prior
<br />mortgage or deed of trust if such holder is an institutional lender .
<br />If Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of
<br />which are insured or guaranteed by a Federal or state agency (including Lender if Lender is such an
<br />institution). Lender shall apply the Funds to pay said taxes, assessments, insurance premiums and ground
<br />rents. Lender may not charge for so holding and applying the Funds, analyzing said account or verifying
<br />and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and
<br />applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing at the
<br />time of execution of this Deed of Trust that interest on the Funds shall be paid to Borrower, and unless
<br />such agreement is made or applicable law requires such interest to be paid, Lender shall not be required to
<br />pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an
<br />annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each
<br />debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this
<br />Deed of Trust.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds
<br />payable prior to the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed
<br />the amount required to pay said taxes, assessments, insurance premiums and ground rents as they fall due,
<br />such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on
<br />monthly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay
<br />taxes, assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender
<br />any amount necessary to make up the deficiency in one or more payments as Lender may require.
<br />Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to
<br />Borrower any Funds held by Lender. If under paragraph 17 hereof the Property is sold or the Property is
<br />otherwise acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the
<br />Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit
<br />against the sums secured by this Deed of Trust.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by
<br />Lender under the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of
<br />amounts payable to Lender by Borrower under paragraph 2 hereof, then to interest payable on the Note,
<br />and then to the principal of the Note.
<br />4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's
<br />obligations under any mortgage, deed of trust or other security agreement with a lien which has priority
<br />over this Deed of Trust, including Borrower's covenants to make payments when due. Borrower shall pay
<br />or cause to be paid all taxes, assessments and other charges, fines and impositions attributable to the
<br />Property which may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if
<br />any.
<br />5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the
<br />Property insured against loss by fire, hazards included within the term "extended coverage", and such
<br />other hazards as Lender may require and in such amounts and for such periods as Lender may require.
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<br />Form 3828 (page 2 of 7 pages)
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<br />JI-
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