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UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 87— 1 03897
<br />I. Payment of Prktclpsl and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, preps meet and late charges as provided in the Note, and the principal of and interest on
<br />any Future Advances secured by the of Trust.
<br />2, FurAt for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower &half pay to Lander
<br />on" day monthly installments of principal and Interest are payable under the Note, unfit 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 iambi on the Property, it any, plus ono- twafth of yyearly premium Installments for hazard insurance, plus one-twelfth of
<br />yeary premium installmerea torn mortgage insurance, if any, all as ressonably eeHmated initially and from Hine to 6me by
<br />Lender on He basis of a is and bills and rise estimates Hlereaf.
<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 faxes, assessments.
<br />insurance premiums and ground rents. Lander may not charge for so holding and applying the Funds, analyzing said account
<br />or verilyirig and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />FM Lender to make such a charge. Borrower and Lander may agree in writing at the rime of execution of this Deed of Trust
<br />that inNreat on the Funds shall be paid to Borrower, and unless such agreement is made or appliwibe law requires such
<br />interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender *hall 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 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 had 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 thereat.
<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 t B heraol the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply,
<br />in later than immediately 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 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 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 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, 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 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 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 pail 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 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 appproval by Lender; provided, that
<br />such approval shall not be unreasonably withhold. 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 tender 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. II such restoration or repair is not economically feasible or if the security of this Deed of Trust would be
<br />impaired, the insurance proceeds shell be appliad to the sums secured by this Deed of Trust with the excess, if any, paid to
<br />Borrower. If the Property is abandoned by Ba row ®r, or i1 Borrower fails to respond to Lender within 30 days from the date
<br />Lnotice is it by Lender to Borrower that the insurance carrier offers to settee a claim for insurance benefits, Lender is
<br />to 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 Oeed 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 of such
<br />insMllments. It under paragraph 1 B hereof the Property is acquired by Lender, all right, title and interest of Borrower in and to
<br />any insurance policies acrd 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.
<br />e. Proservatkm and Makdenarnce or Property; Leaseholds; ComdomNtlams; Planed Unit Borrower shall
<br />keep the Property in good repair and shall not commit waste or permit impairment of deterioration of and shall
<br />comply with the provisions of any lease it this Deed of Trust is on a leasehold. If this 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 />ptanned unit development, and constituent documents: If a condominium or planned unit development rider is excuted by
<br />grower 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 this Deed of Trust as if the rider were a part hereof.
<br />7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this Deed of
<br />Trust, or it any action of proceeding is commenced with materially effects Lender's interest in the Property, including but not
<br />limited th, 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 tees and
<br />eery upon Property e repairs. if Lender required mortgage insurance as a condition of making the loan secured by
<br />Dead pay Hie premiums required to maintain such insurance in effect until such fine as the
<br />requkernerd for such insurance termtrurtas in accordance with Borrower's and Lender's written agreement or applicabe law.
<br />Borrower shall pay tree amount of all mortgage insurance premiums in the manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall ome additional
<br />indebtedness of Borrower securad by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shell bepayabloupon 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 fine 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 shell bear interest at the highest rate
<br />permi applicable under applicae law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any
<br />acUorn hereunder.
<br />S. inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />MM Lendw "I give Borrower notice prior to any such mspection specifying reasonable cause therelorp related to Lender's
<br />interest in the Property I ,
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