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<br />101389
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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 Intere.t. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late chargesas provided in the Note, and the principal of and interest on
<br />any Future Advances secured by the Deed of Trust.
<br />2. Funds for Tax.. and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to lender
<br />on the day monthly installments at principal and Interest are payable under the Note, until the Note is paid in full, a sum (herein
<br />"Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this Dead of Trust, and
<br />ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard Insurance. plus one-twelfth of
<br />rearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from time t6 time by
<br />cnder on the basis of 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 funds 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 biils, 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 of 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 for the sums secured by this Deed of
<br />Trust
<br />If the amount of the funds held by lender, together with the future monthly installments of 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 premiums and ground rents as they fall due. Borrower shall
<br />pay to lendf'" any amount necessary to make up the deficiency within 30 days from the date notice is mailed by Lender to
<br />Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Deed of Trust, lender shaH promptly refund to Borrower any Funds held by
<br />lender. If under paragraph 18 hereof the Property is sold or the Propelo/ is otherwise acquired by lender, lender shall apply,
<br />no late( than immediately prior to the sale of the Property or its acquisition by Lender, and Funds held by Lender aathe time of
<br />application as a credit against the sums secured by this Deed of Trust
<br />3. Application of Payments. Unless applicable law Vjy;~,,!s otherwise, all payments received by lender under the Note
<br />and paragraphs 1 and 2 hereof shall be applied by lender first Ii'! payment of amounts payable to Lender by Borrower under
<br />paragraph 2 hereof, 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 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 furnish to lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borrower shall promptly lurnish 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 f -Jch 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 enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5. Haz.rd Insurance. Borrower shall keep the improvements now er.isting 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 of 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 Insurance policies shall be paid In 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 thereof shall be in form 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 repairofthe
<br />Property damaged, provided such restoration or repair is economically feasible and the security of this De&d of Trust is not
<br />thereby impaired. If such restoration or repair is not economically feasible 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. If 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 for insurance benefits, lender is
<br />authorized to collect and apply the insu~ance 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 01 proceeds to principal shall not extend or
<br />postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such
<br />Installments. If under paragraph 18 hereof the Property is acquired by lender, all right, title and interest 01 Borrower in and to
<br />any insurance policies and in and to the proceeds thereof resulting from damage 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. Pr........tlon and M.lnten.nce of Property; le..ehold.; Condomlnlumsi Pfanned Unit Developmen18. Borrower shall
<br />keep the Property in ~ood repair and shall not commit waste or permit impairment of deterioration of the Property and shall
<br />comply with the provisions of any lease ifthis Deed of Trust is on a leasehold. If this Deed ofTrust is on a unitin a condominium
<br />or a planned unit development, Borrower shall perform all of Borrower's obligations 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 constituent documents. If a condominium or planned unit development rider is ekcuted by
<br />Borrower and recorded together with this Deed of Trust, the covenants and agreements of such flder shall be incorporated
<br />into and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider were a part hereof.
<br />7. Protection 01 lender's Security. If Borrower fails to perform 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 enforcement, 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 of reasonable attorney's fees and
<br />entry upon the Property to make repairs. If lender requi red mortgage insurance as a condition of 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 of 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 Bonower requesting payment hereof, and shall bear interest from the
<br />date of disbursement at the rate payable from 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 />. actiC'n hereunder.
<br />I. I~.lender may make or cause to be made reasonable entries upon and inspections of the Property. provided
<br />that Lender shall give Borrower notice prior to any such inspection specitying reasonable cause therefore rolated to Lender's
<br />intera..t in the Property. . '- '.. "'
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