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UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 87— 1034036
<br />1. Payent d Pr�ipal a nd I"WOBL Borrower shall promptly pay when due the principal of and interest on the
<br />nde btednemas svidnced by the Note, prepayment and late charges as provided in the Note, and the principal Oland interest on
<br />any Future Advances secured by the Deed of Trust,
<br />2. Futxk fair Taxes and InGw&mo. Subject to applicable low 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
<br />Funds ") equal to one - twelfth of the taxes
<br />yearly (herein
<br />and assessments which may attain Priority over this Deed of Trust, and
<br />ground rents on the Property, itany, plus one - twelfth of yearly premium installments for hazard insurance, plus one - twelfth
<br />tea installments for mortgage insurance,
<br />of
<br />if any, all as reasonably estimated initially and from time to time by
<br />e ^der On the basis o1 assessments and bills and reasonable estimates thereof.
<br />funds shall be held in an institution the deposits
<br />assThe
<br />or accounts of which are insured or guaranteed, by a Federal or state
<br />e
<br />urance Premiums Lender if and ground Lender nts.. Lender may not charge Lender shall for so hotdinpsnd
<br />�a taxes, assessments,
<br />funds the
<br />or verifying
<br />a I �,p�umanry1
<br />end compiling said assessments and bills, unless Lender pays 8orrower(Infereest on he Fuanalyzing d pplicable law
<br />permits Lenderto make such a charge. Borrpwerantl Lender may agree inn writing at the time
<br />that interest on the Funds
<br />of execution of this Deed of Trust
<br />shalt be paid to Borrower, and unless such agresmnt is made or appllCelbe law requires such
<br />merest to ba ppaid, Lender shall not b® required to pay Borrower any interest or earnings on the Funds. Lender
<br />Borrower, without charge, an annual
<br />accounting of the Funds showing credits and shall give to
<br />which each debit to the Funds was made. T he Fu lids are pledged as
<br />its to the Funds and the purpose for
<br />Trust. he
<br />additional security f or the sums secured this peed of
<br />of
<br />dates ants
<br />taxeg gsy�yme^ hnsu ancenp emiugmshand g round rents, halhlexcseed the amount Funds Payable prior to the due
<br />assessments, insurance premiums and ground rents as they fall due, said
<br />such excess shall be. at rrower's op on, eitherr
<br />Lender 3halInotbesufficnttoPay taxe,assessments,
<br />insurance premiumasandgroundrentsastheyfallldue Borrower shall
<br />pay to Lender any amount necessary to make up the deficiency within 30 days From the date
<br />Borrower requesting
<br />payment thereof notice is mailed by Lender to
<br />Borrower
<br />der. It payment nparagraph 18 hereof Property isso d ofr the Property srotherw se acquired led
<br />no later than immediately
<br />p . Lender shall pplyy
<br />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 Trusl
<br />of
<br />3. Application of Payments. Unless applicable law {provides otherwise, au payments received by Lender under the Note
<br />and paragraphs 1 and 2 hereof shall be applied by Lender first in
<br />payment of amounts payable to Lender by Borrower under
<br />Paragraph 2 hereof, then to interest payable on the Note, then to the oncipal of the Note. and then to interest
<br />any Future Advances.
<br />and principal on
<br />4• Charges; Liens. Borrowers shall pay all taxes, assessments and other charges, tines and impositions attributable to the
<br />Property which may attain a priority over this Deed of Trust, leasehold
<br />slid payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or, it not paid in such manner, by Borrower making payment, when due, directly to the
<br />payee hereof. Borrower shall promptly furnish to Lender all notices of amounts
<br />Borrower
<br />due under this paragraph, and in the event
<br />shall make payment directly, Borrower shall Promptly furnish to Lender receipts evidencing such
<br />Borrower shall promptly discharge any Iren which has Priority a menu.
<br />r i p over this P
<br />required to dischargeany such lien gtto
<br />r
<br />so long as Borrower shall aree n writing h paymen of he obligation Borrower shall by such
<br />lien in a manner acceptable to Lender. or shall in good faith contest such lien by, or defend enforcement
<br />Proceedings which operate to
<br />of such lien in, legal
<br />prevent the enforcement of the hen or forfeiture of the Property or any part hereof.
<br />S. Hazard lnwrafee. Borrower shall keep
<br />.�
<br />the improvements now existing or hereafter erected on the Pr
<br />Property insured
<br />against loss by fire, hazards included within the term "exteded coverage ". and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may
<br />require.
<br />such coverage exceed that amount of coverage required y equue, moulded. that Lender shall not reTquire that the amount of
<br />This insurance carter providing the rChosen
<br />,
<br />msurence all b of
<br />bysBorrower subject to approval byruender; provided, that
<br />er
<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, it not paid in such manner, by Borrower
<br />carrier. making payment, when due, dyLen
<br />the insurance
<br />policies
<br />clause in favor of in form cceptable to Lender Lender Shall have he�light to hold the Policies and ere renewals
<br />g
<br />Borrower shall promptly furnish to Lender
<br />thereof, and
<br />all renewal notices and all receipts of paid premiums. in the event of loss. Borrower
<br />shall give promppt notice to the insurance carrier and Lender Lender 'nay make proof of loss if not made
<br />Unless Leder and Borrower otherwise
<br />y.
<br />^
<br />promptly by Borrower.
<br />agree in writing, insurance proceeds shall be applied to restoration or repair of the
<br />Property damaged, provided such restoration Or repair is economicafly feasible and the security pl this Deed of Trust is
<br />thereby impaued. If such restoration or repair is not economically
<br />not
<br />feasible or d he 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,
<br />Borrower. If the Property is abandoned by Borrower, or if Borrower to
<br />paid
<br />fails o respond Io Lender within 30 days from the date
<br />notice is mailed by Lender to Borrower that the insurance carrier oilers to settle a claim for insurance ben
<br />authorized 10 collect and a ly the insurance roc elite L
<br />pp Proceeds at ender i
<br />he sums secured by Lender s �pt+on either to is
<br />this Deed o1 Trust restoration or repair of the Pro
<br />Unless Lender and Borrower otherwise
<br />agree in writing, any such application of proceeds to principal shall not end 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. 11 under Paragraph 18 hereof the Property is acquired by Lender, all
<br />any insurance
<br />.�
<br />right, title and interest of Borrower in and to
<br />policies and in and to the proceeds thereof resulting from damage to the Property prior to the
<br />s ^ail pass to Lender to he extent of the
<br />sale or acquisition
<br />sums secured by this Deed of Trust immediately prior to such sale or acquisition,
<br />B. P"Nwvation and Maintenance of Property;
<br />keep he Property i^ good repair and shall ncmmi� waste or paro ^motmmpair�menifof
<br />comply
<br />delereoration o the Pro�lrawersnall
<br />or a planned unit development, Borrower shall property shall
<br />with the provisions of any lease it this Deed of Tru ^t is on a leasehold. If this Deed of Trust is on a unit in a condominium
<br />creabn9 or governing the condominium or planned unit development the by ws and regulations declaration or covenants
<br />planned unit development, and constituent documents,
<br />um or
<br />If a condominium or planned unit development rider rs excuted by
<br />Borrower and recorded together with this Deed of Trust, he covenants and agreements of such ender shall be incorporated
<br />into and shall amend and supplement the covenants and agreements i
<br />of this Deed of Trust as if the rider were part hereof.
<br />7. P"*OCV*n of Lenders Security, If Borrower fails to pr,rform 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 Pro
<br />limited to. eminent domain, insolvency,
<br />there Lender at Lender's gamy, including but not
<br />tilde enforcement, or arrangements or proceedings involving a bankrupt or decedent,
<br />action as is necessary toPr teectLendersinteresft appearances.
<br />entry incudn bu not lliimipted
<br />upon the Prop" to maker sbursemnnb freasonableattorney'sfeesand
<br />Me of Trust, Borrower shat repairs. If Lender requir mortgage insurance as a conditpon of making
<br />.. _... _.....
<br />the loan secured by
<br />r pay the premiums required o maintain such insurance in effect until such time as the
<br />squtterrieOttor such insurance terminates in accordance with Borrower's and Lender's written agreement
<br />Borrower shall Pay the amount of all
<br />or epplicalbe law.
<br />mortgage insurance premiums in the manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this ragraph 7, with interest thereon, shall become additional
<br />indebtedness t Borrower secured by this Deed of Trust Un
<br />a east fwrrower and Lender agree to other terms of payment, such
<br />dam its shall be eontat the rate u pn notice from Lender to Borrower requesting payment hereof, and shall bear interest
<br />®plicabllenlaw.
<br />from the
<br />at such raNS would be contrary to as
<br />time o which event outstanding heamountsnshallhbe Ofeinterest Payment
<br />rwnwsw"udefsppltcablelaw ®rate
<br />action hereunder e hghest
<br />Nothing contained in his Paragraph 7 shall require Lender to incur any expense or take any
<br />Mat Let m Lender shall
<br />h"POCMen. Lender may make or cause to be made reasonable entries upon and inspections of he Property, provided
<br />shall gyve Borrower notice glom to any such inspection specifying reasonable cause therefdre related to
<br />Property
<br />f>
<br />Lender's
<br />
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