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<br />UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows:
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<br />1. Paymant ot Principal and Inta"ll. Borrower shall promptly pay when due the principal of !lnd interesl on the
<br />indebledness 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 Trusl ", '
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<br />2. Funds for TUlland Inlurance. Subject to applicable law or to a written waiver by Lender, BorrowershaJl pay 10 Lender
<br />on the day monthly Instellments of 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 Ihe yearly taxes and assessments which may attain priority over thiilDeedof Trust. and
<br />ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard Insurance,plus one.twelfttt of
<br />yearly premlumin~tallments for mortgage Insurance. If any. alll!s reasonably estimated initially andfrom,timeto~me~
<br />Lender on the baSIS of assessments and bills and reasonable estimates thereof. ..' <
<br />The Funds shall be held In an institution the deposits or accounts of which are Insured or guaranteed. by a Federal orstate
<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 accou'!t
<br />or verifying and compiling said assessments and bills, unless Lender pa~s BOrrower Interest on the Fundsand applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agree to writing at the time ofexecutlpn of this Deed of Trust
<br />thal interest on the Funds shall be paid to Borrower, and unless such agreement is made orapplicelbe 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 debitto the Funds was made, The Funds are pledged as additional security for the sums secured bytl1is Deed of
<br />Trust
<br />If the amount of the funds held by Lender, together with the future monthiy installments of Funds payable prior to the due
<br />dates of taxes, assessments, insurance premiums and ground rents, shell exceed the amount reguirild lei 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 amounl of the Funds held by
<br />Lender shall not be sufficientto pay taxes, assessments, Insurance premiums and ground rentses theyfall due. Borrower shall
<br />pay 10 Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed by Lender 10
<br />Borrower requesting payment thereof.
<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 18 hereof the Property is sold or the Prope~ is otherwise acquired by Lender, Lendershall apply.
<br />no laler than immediately prior to the sale ofthe Property or its acquisition by Lender, and Funds held by Lender at the timem
<br />application as a credit against the sums secured by this Deed of Trust.
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<br />3. Application of Payments. Unless applicable lawdDrovides otherwise, all payments received by Lender under the Note
<br />and paragraphs 1 and l! hereof shall be applied by Len er first in payment of amounts payable to Lender by Borrower under
<br />paragraph 2 hereof, then to Interest payable on the Note, then to the prinCipal ofthe Note. and then to interestand principal on
<br />any Future Advances.
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<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 payments or ground rents, if any. in the manner
<br />provided under paragraph 2 hereof or. if not paid in such manner. by Borrower making payment, when due. directly 10 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 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 shan not be
<br />required to discharge any such lien so long as Borrowershall 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 oparale to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
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<br />5. Hazard In8Urance. 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; provlaed, 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 sUbjectto approval by Lender, provided. thai
<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 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 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 feasible and the security of this Deed 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 II Borrower falls 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 10 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 of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall notexlend or
<br />poslpone 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 of Borrower in and to
<br />any insurance pOlicies and in and to the proceeds thereof resulting from damalle to the Property prior 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.
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<br />6. p,.leIVaUon and Maintenance of Properly; Lealeholds; Condominiums; Planned Unit DenlODmanla. Borrowershall
<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 of any lease ilthis Deed of Trust is on a leasehold, If Ihis Deed of Trust is on a unit in 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 documenls, If a condominium or planned unit development rider is excuted by
<br />Borrower and recorded together with this Deed of Trust, the covenanls 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 lithe rider were a part hereof.
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<br />7. ProtecUon of Lender'. Security. "Borrower fails to perform the covenants and agreements contained in this Deed of
<br />Trust. or if any action or f,roceeding is commenced with materially affects Lender's Interest in Ihe Property,lncluding but not
<br />limited to, emment doma n, insolvency, code enforcement, or arrangements or proceedings involving a bankruptord8cedent.
<br />then Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such sums and taka such
<br />action as is necessary 10 protect Lender's Interest. including, but not limited to, disbursement of reasonable anomey's fees and
<br />entry upon the Property to make repairs, If Lender required 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 appllcalbe law,
<br />Borrower shall pay the amount ot all mortgage Insurance permlums in the manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall llecome additional
<br />indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other te.rms of 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 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 reflulre Lender 10 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 inspections 01 Ihe Property, provided
<br />that Lender shall give Borrower notice prior to any such Inspection specifying reasonable cause therefdre' !'elated to Lender's
<br />Interest In the Property.
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<br />88- 103875
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