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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
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<br />1. Payment 01 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 charges as 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 Taxes and In.urance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay 10 Lender
<br />on Ihe day monthly installments of principal and inlerest are payable under the Note, until the Note is paid in full, a sum (herein
<br />"Funds") equal to ~me-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 of y'eariy 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 to time by
<br />ender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in a'n institution the deposits oraccounts of which are insured or guaranteed, by a Federal or state
<br />agency (including Lender il 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 bills, unless Lender pays Borrower interest on the Funds and applicable raw
<br />permits Lender to make such a charge. Borrower and Lender may agree m writing at the time of execulio.n of this Deed olTrust
<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 01 the Funds showing credits and debits to the Funds and the purpose for
<br />which each debit to the Funds was made. The Fundsare pledged as additional security lor 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 fall 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 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 refund to Borrower any Funds held by
<br />Lender. If under paragraph 1 B hereof the Property is sold or the Prope~ is otherwise acquired by Lender, Lender shall apply.
<br />no later than immediately prior to the sale 01 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 of 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 lirst in payment 01 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. CherSJea; U.n.. 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 payments or ground rents, if any, in the maImer
<br />provided under paragraph 2 hereol or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />payee thereof, Borr~wer shall pr~mptly furnish to lender all notices of ~mounts due unde~ this p~ragr~ph, and in the event
<br />Borrower shall maile payment directly, Borrower shall promptly furnish to Lender receipts eVldencmg 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 enforcement of the lien or forfeiture of the Property or any part thereof.
<br />S. Hez.rd In.urance. 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 of coverage required to pay the sums secured by this Deed of Trust
<br />This insurance carrier providing the insurance shall be chosefl by Borrower subjeclto approval by lender; provided, that
<br />such approval shall not be unreasonably withheld. All premiums on Insurance policies shall he 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 thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of 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 il 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 feasible and the security of this Deed of Trust is not
<br />thereby impaired. II such restoration or repair is not economically feasible or il 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, Lenl1er is
<br />authorized to collect and '!PPly the insu~ance proceeds at Lender's option either to restoration or repair of the Property or to
<br />the sums secured by this [)e(,d 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 of the monthly installments referred to in paragraphs 1 and 2 hereof or Change the amount 01 such
<br />Installments, If under paragraph 18 hereol the Property is acquired by Lender, all right, tltle and interest of Borrower in and to
<br />any Insurance pOlicies and in and to the proceeds thereof resulting from damage to the Property ~rior to 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 Propertr; Lea..holds; CondomlnllJm.; Plenned Unit Developments. Borrower shall
<br />keep the Property in good repair and shall not commit waste or permit impairment of deterioration of the Property and shall
<br />comply with the provisions of any lease if this Deed of Trust is on a leasehold.llthis 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 />creatinp or governing the condominium or planned unit development, the by-laws and regulations of the condominium or
<br />planned unit development, and constituent documents. II a condominium or planned unit development rider is excuted by
<br />Borrower and recorded togeiher 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 of Lend.,'. Security. II 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,lI Lender required mortgage insuranceas 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 />reqUireme. nHor such insurance terminates in accordance with Borrower's and Lender's written agreement or app1icalbe 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 oITrus!. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shall be paya.ble upon notice from Lender to Borrower 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 :;;terest 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 />e. InapltCtlon, Lender may make 01 cause to be made reasonable entries upon and inspections 01 the Property, provided
<br />that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefore related to Lender's
<br />interest in the Property,
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<br />88-102095
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