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<br />g7- 101387
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, pr=mentand 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 Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender
<br />on the day monthly installments 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 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 yearly 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 of assessments and bills and reasonable estimates thereof.
<br />The Funds shall beheld 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 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 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 applicafbe 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 />I! 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 or monthly installments of Funds. If the amount of the Funds held byy
<br />Lender shall hot be sufficient to pay taxes. assessments, insurance premiumsand roundrentsasthey fall due. Borrowersha!!
<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 thereof
<br />Upon payment in full of all sums secured by this Deed of Trust Lender shall Dromptly refund to Borrower any Funds held by
<br />Lender If under paragraph 18 hereof the Property is sold orthe Property s otherwise acquired by Lender. Lender shall apply,
<br />no later than immediately error to the sale of the Property or its acquisition by Lender. and Funds held by Lenderatthe time of
<br />application as a credit against the sums secured by this Deed c"l -rust
<br />3. Application of Payments. Unless applicable law provides otherw,sc. all payments received by Lender under the Note
<br />and paragraphs t and 2 hereof shail be applied by Lender first in payment of amounts payable to Lender by Borrower under
<br />paragraph 2 hereof. tnen to interest payable on the Note. men to the principal of the Note_ and then to interestand principal on
<br />any Future Advances
<br />4. Charges; Liens. Borrowers shah pay all taxes. assessments arc 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, if 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 snail 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 enforcement of the !let or forfeiture of the Property or any part thereof_
<br />S. 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 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 thss Deed of Trust
<br />This insurance carver providing the insurance shall be chosen by Borrower subject to approval by Lender. provided, that
<br />such approval shall not be unreasonably withheld. Ali 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 />carver
<br />Ali insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and ,n form acceptable to Lender. Lender shall have the, ighT to hold the policies anal renewals thereof. and
<br />Borrower Shad promptly furnish to Lender all renewal noticesand ail receipts of paid premiums. In the event of loss_ Borrower
<br />shall: give prompt notice to the insurance carrier and Lender Lender may make prod of loss if not made promptly by Borrow_ Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of III'*
<br />Property damaged, provided such restoration or repair is economicallyteasible and the security of this Deed of Trust rs not
<br />thereby impaired It 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 it 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 me insurance carrier offers m settle a claim for insurance benefits. Lenders
<br />authorized to collect and apply the insurance proceeds at Lender s - 1ptior either t0 restr,rat ;or or repair of the Property or to
<br />the sums secured by this Deed of Trust
<br />Unless Lender and Borrower otherwise agree ,n writing, any such app cation of proceeds to principal shall not extena or
<br />postpone the due date of the monthly installments referred tom paragraphs ? and 2 nereof or change the amount of such
<br />installments if under paragraph 18 hereof me Property is acquired try Lender. all rght title and interest of Borrower In and to
<br />any insurance policies and in and to the proceeds thereof resulting from damage 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. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower shat'
<br />keep the Property in good repair ano shall not commit waste or permit impairment of deterioration of the Property and snail
<br />comply with the provisions of any !ease it this Deed of Trust is on a ieaseho' -d it this Deed of Trust is on a unit in a condominium
<br />of a planned unit development Borrower shall perform ail of currower s obllgatiors under the declaration, or covenants
<br />creating or governing the condominium or planned unit development. the by -laws and regulations of me condominium or
<br />PPlanned unit development, and constituent documents if a condominium or planned unit development rider is excuted by
<br />8o rower 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 of th s Geed of Trust as if the rider were a Dart hereof
<br />7. Protection of Lender's Security. if Borrower fails to perform the covenants and agreements contained in this Deeo of
<br />Trust, or if any action or proceeding is commenced with materially affects Lender's interest m the Property. including but not
<br />limited to, eminent domain, insolvency, code enforcement or arrangements or proceedings involving a bankrupt or decedent
<br />= L T—T ai Lerfivei 3 opt or:. JE ' s `ue fo @ - -may itiake —17 r�,� mss. dtsbursje si -h su:
<br />action as isnecessaryto protect Leader's interest includin g but riot limited to. disbursement of reasonable attorney'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 applicable 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 otherterms of payment, such
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment hereof, and shall bear interest from me
<br />L 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 />,Action hereunder
<br />8. Inspection, Lender may make of cause to be made reasonable entries upon and inspect ors or the Property prOV,det;
<br />that Lander shail give Borrower notice prior to any such inspection speu*ying reasc:nabie cause there10tgr $o Lender s
<br />ii•tr=; n5t ,r, IhE: Property :! fi , ' 4
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