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<br />88- 100572
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
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<br />1. Payment of Principal and Interest. Borrower shall promplly pay when due the principal 01 and interest on the
<br />Indebtedness evidenced by the Note, prepayment and late chargesas provided in the Note, and the principal 01 and interest on
<br />any Future Advances secured by the Deed 01 Trust.
<br />2. Funds lor Taxesl!ind IMurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender
<br />on the day monthly installments 01 principal and Interest are payable under the Note, until th"l Note IS paid In lull, a sum (herein
<br />"Funds") equal to one,twellth of the yearly taxes and assessments which may attain priority over this Deed of Trust, and
<br />ground rents on the Property, il any, plus one-twelfth 01 xear1y premium installments for hazard insurance, plus one-twelfth of
<br />yearly premium installments for mortgage insurance, II any, all as reasonably estimated initially and from time to time by
<br />Lender on the basis 01 assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts 01 which are insured or guaranteed, by a Federal or state
<br />agency (including Lender il Lender is such an institution), Lender shall apply1he funds to pay said taxes, assessments,
<br />insurance premiums and ground rents, Lender may not charge lor so holding and applying the Funds, analyzing said account
<br />or verilying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such n 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 Fund~ 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 for the sums secured by this Deed of
<br />Trust.
<br />If the amount 01 the funds held by Londer, together with the luture monthly installments 01 Funds payable prior to the due
<br />dates 01 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 />promplly repaid to Borrower or credited to Borrower on monthly Installments of Funds, if the amount 01 the Funds held by
<br />Lender shall not be sufficient to pay taxes, assessments. insurance premiums and ground rents as they lall 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 lull of all sums secured by this Deed of Trust, Lendershall promplly relund to Borrower any Funds held by
<br />Lender. II under paragraph 18 11ereol 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 Property or its acquiSition by Lender, and Funds held by Lender at the 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 hereol shall be applied by Lender Iirst in payment 01 amounts payable to Lender by Borrower under
<br />paragraph 2 hereol, then to interest payable on the Note, then to the principal of the Note, and then to interest and principal on
<br />any Future Advances.
<br />4. Charges; Liens. Borrowers shall pay all taxes, assessments and other charges, fines and impositions attributable to the
<br />Property which may attain a priority over this Deed 01 Trust, and leasehold paymenis 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 thereol. Borrower shall promplly lurnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borrower shall promptly furnish to Lender r~ceipts 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 Ion;) 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 laith contest such lien by, or defend enforcement 01 such lien in, legal
<br />proceedings which operate to prevent the enforcement of the lien or forteiture of 'the Property or any part thereol.
<br />5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by lire. hazards included within the term "extended coverage". and such other hazards as Lender may require
<br />and in such amounts and lor 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 01 Trust.
<br />This insurance carrier providing the insurance shall be chosen by Borrower subject to aperoval by Lender; provided, that
<br />such approval shall not be unreasonably withheld, All premiums on Insurance policies shall De paid In the manner provided
<br />under paragraph 2 hereol 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 mortQage
<br />clause in lavor c f 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 nollce to the insurance carrier and Lender. Lender may make prool olloss il not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair 01 the
<br />Property dama\lBd, provided such restoration or repair is economically leasible and the security of this Deed of Trust is not
<br />thereby impaired, 11 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. lithe Property is abandoned by Borrower, or il 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 for insurance benefits, Lender is
<br />authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property or to
<br />the sums secured by this Deed oj Trust.
<br />Unless Lender and Borrower otherwise agree in writing. any such application 01 proceeds to principal shall not extend or
<br />postpone the due date of the monthly installments relerred to in paragraphs 1 and 2 hereof or change the amount of such
<br />Installments, If under paragraph 18 hereollhe 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 thereof resulting from dama~eto the Property prior to the sale or acquisition
<br />shall pass to Lender to the extent 01 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 of deterioration 01 the Property and shall
<br />comply with the provisions 01 any lease ifthis Deed 01 Trust is on a leasehold. If thiS Deed 01 Trust is on a unit in a condominium
<br />or a planned unit development, Borrower shall pertorm all 01 Borrower's obligations under the declaration or covenants
<br />creating or governing the condominium or planned unit development, the by-laws and regulations 01 the condominium or
<br />planned uni1 development, and constituent documents, If 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 il the rider were a part hereof.
<br />7. Protection of Lender's Security. If Borrower fails to pertorm the covenants and agreements 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, eminent 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 10 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 01 all mortgage insurance permiums in the manner provided under paragraph 2 hereol.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms 01 payment, such
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment hereof, and shall bear interest from the
<br />date of disbursement at the rate payable lrom 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.
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<br />8, Inspection, Lender may make or cause to be made reasonable entries upon and Inspecltons of the Property, provided
<br />that Lender shall give Borrower notice prior to any such Inspection specllying reasonable cause therefore related to Lender's
<br />interest In the Property
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