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<br />88- 100570
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<br />UNIFORM COVENANTS, Borrower and Lender covenant and agree as lollows:
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<br />1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal 01 and interest on the
<br />Indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest on
<br />any Future Advallces secured by the Deed of Trust.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lend~r
<br />on the day monthly installments 01 principal and interest are payable under the Note, until the Note is paid in full, a sum (herem
<br />"Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this Deed of Trust, and
<br />ground rents on the Property, if any, plus one-twelfth ofy'early premium installments for hazard insurance, plus one,twelfth of
<br />yearly premium installments for mortgage insurance, If any, all as reasonably estimated initially and from time to time by
<br />Lender on the basis 01 assessments and bills and reasonable estimates thereol.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed, by a Federal or state
<br />agency (including Lender if Lender is such an institution). Lender shall apply the lunds to pay said taxes, assessments,
<br />insurance premiums and ground rents, Lender may not charge for so holding and applying the Funds, analyzing said account
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge, Borrower and Lender may agree In writing at the time 01 execution of this Deed of Trust
<br />that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicalbe law requires such
<br />interest to be paid, Lender shall not be reqUired to pay Borrower any interest or earnings on the Funds. Lender shall give to
<br />Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for
<br />which each debit to the Funds was made, The Funds are pledged as additional security lor the sums secured by this Deed of
<br />Trust.
<br />If the amount 01 the lunds held by Lender, together with the future monthly installments 01 Funds payable prior to the due
<br />dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents as they lall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds, If the amount of the Funds held by
<br />Lender shall not be sufficient to pay taxes, assessments, insurance premium:; and ground rents as they fall due, Borrower shall
<br />pay to Lender any amount necessary.to make up the deficiency within 30 days from the date notice is mailed by Lender to
<br />Borrower requesting payment thereol
<br />Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly relund to Borrower any Funds held by
<br />Lender. If under paragraph 18 hereol the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply,
<br />no later than immediately prior to the sale of the ~roperty or its acquisitio.l by Lender, and Funds held by Lender atthe time of
<br />application as a credit against the sums secured by this Deed 01 Trust.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the Note
<br />and paragraphs 1 and 2 hereof shall be applied by Lender first in payment 01 arnounts payable to Lender by Borrower under
<br />paragraph 2 hereol, t11en to interest payable on the Note, then to the principal 01 the Note. and then to interest and principal on
<br />any Future Advances,
<br />4. Charges; Liens. Borrowers shall pay alllaxes, 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 any, in the manner
<br />provided under paragraph 2 hereof or, il not paid in such manner, by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shall promptly lurnish to Lender all notices 01 amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Deed of Trust provided, that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by such
<br />lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in, legal
<br />proceedings which operate to prevent the enlorcement 01 the lien or forfeiture of the Property or any part thereof.
<br />5, Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may require; provided, that Lender shall not require that the amount of
<br />such coverage exceed that amount 01 coverage required to pay the sums secured by this Deed of Trust
<br />This insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided, that
<br />such approval shall not be unreasonably withheld, All premiums on msurance policies shall be paid 10 the manner provided
<br />under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the insurance
<br />carrier.
<br />All insurance policies and renewals thereol shall be in lorm acceptable to Lender and shall include a standard mortgage
<br />clause in favor 01 and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, and
<br />Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss. Borrower
<br />shall give prompt notice to the insurance carrier and Lender, Lender may make proof of loss if not made promptly by Borrower,
<br />Unless Lender and Borrower otherwise agree In writing, insurance proceeds shall be applied to restoration or repair of the
<br />Property damaged, provided such restoration or repair is economically leasible and the security of this Deed of Trust is not
<br />thereby impaired. II such restoration or repair is not economically leasible or if the security of this Deed of Trust would be
<br />impaired, the insurance proceeds shall be applied to the sums secured by this Deed of Trust, with the excess, if any, paid to
<br />Borrower. II the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date
<br />notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim lor insurance benefits, Lender is
<br />authorized to collect and apply the insumnce proceeds at Lender's option either to restoration or repair of the Property or to
<br />the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or
<br />postpone the due date 01 the monthly installments referred to in paragraphs 1 and 2 hereol or change the amount of such
<br />Installments, II under paragraph 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower in and to
<br />any insurance policies and in and to the proceeds thereol resulting from dama~e to the Property priorto the sale or acquisition
<br />shall pass to Lender to the extent of the sums secured by this Deed of Trust Immediately prior to such sale or acqUisition.
<br />6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments, Borrower shall
<br />keep the Property in good repair and shall not commit waste or permit impairment 01 deterioration of the Property and shall
<br />comply with the provisions of any lease if this Deed 01 Trust is on a leasehold. II this Deed 01 Trust is on a unit in a condominium
<br />or a planned unit development, Borrower shall perform all 01 Borrower's obligalions under the declaration or covenants
<br />creating or governing the condominium or planned unit development, the by-laws and regulations of the condominium or
<br />planned unit development, and cO':1stituent documents. II a condominium or planned unit development rider is excuted by
<br />Borrower and recorded together With thiS Deed of Trust, the covenants and agreements of such rider shall be incorporated
<br />into and shall amend and supplement the covenants and agreements 01 this Deed 01 Trust as if the rider were a part hereof.
<br />7. Protection of Lender's S3curlly. II Borrower lails to perform the covenants and agreemonts contained in this Deed of
<br />Trust, or if any action or proceeding is commenced with materially affects Lender's interest in the Property, including but not
<br />limited to, emment domain, insolvency, code enlorcement, or arrangements or proceedings involving a bankrupt or decedent,
<br />then Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such sums and take such
<br />action as is necessary to protect Lender's interest, including, but not limited to, disbursement 01 reasonable attorney's fees and
<br />entry upon the Property to make repairs. If Lender required mortgage insurance as a condition 01 making the loan secured by
<br />the Deed of Trust, Borrower shall pay the premiums required to maintain such insurance in effect until such time as the
<br />requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicalbe law.
<br />Borrower shall pay the amount of all mortgage insurance permiums in the manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness 01 Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment hereol. and shall bear interest from the
<br />date of disbursement at the rate payable Irom time to time on outstanding prinCipal under the Note unless payment of interest
<br />at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable law, Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any
<br />action hereunder
<br />8. In.pectlon. Lendor may make or cause to be made reasonable entnes upon and inspeclions 01 the Property. provided
<br />that LendBr shall give Borrower notice prior to any such Inspection specllying reasonable cause therelore related to Lender's
<br />Interest in the Property
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