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1.05902
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />t. Psyment of Principal and Interest. Borrower shall promptly pay when due the principal, of and interest on Me
<br />indebtedness evidenced by the Note, p�rop�ymont and late charges as provided in the Note, and the principal of and inloreston
<br />any Future Advances secured by the Dsad of Trust.
<br />2. Runde for Taxes and Insurance. Subject to applicable law or to a written waiver by lender, Borrower shelf pay to Londsr
<br />on the day monthly inatellmenh of pprincipa and interest era payable under the Note, until tl1e Note is paid in lull, a sum (heroin
<br />"Funds ") equal to one twelfth of the yearly taxes and assessments which may attain priority over this rtt Trust and
<br />Yground ,ante on the Property, ilany, plusgone- twelfth of yearly premium inatalimente for hazard insurance, plus one- twoNttt of
<br />Le rly premium ol�nteamenls anad billrs and raason� �a l ma suttnior�ylsuumalad initially end from time to Limo by
<br />The Funds shall behold In an institution the deposits or accounts of which are insured or ppuaranlood, 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 holdingg and applying the Funds, analyzing said account
<br />or verifying and compiling said assessments and bills, unless Lender pays ArrowerInterestontheFundsandAppI�icablelaw
<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 appll.:albe low 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 Dead of
<br />Trust.
<br />It 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 sold taxes,
<br />assessments, insurance premiums and ground rents as they fell 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 hold by
<br />Lender shall not be sufficient to pay taxes. assessments, insurance premiumsand ground rents as they fall due. Borrower shal
<br />pay to Lender any amount necessary to make up the deficiency within 30 days from the dale notice Is mailed by Lender to
<br />Borrower requesting payment thereof.
<br />Upon payment in full ofall 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 Property is otherwise acquired by Lender, Lender shall apply,
<br />no later than immediately prior to the sale of the Property or its acquisition by Lender, and Funds held by Lender at" 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 paraggraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under
<br />P aragraph 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• Ltens. Borrowers shall pay all taxes, assessments and other charges, fines and impositions attributable tothe
<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 prompt y 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. Hazwd 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 approval by lender•, provided, that
<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 inform acceptable to Lender. Lender shall have the right to hold the policies and renewal athereof, 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 ProFd . r to r'ow e r rty is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date
<br />notice
<br />to w e r by tt the insurance carrier ffers to ttle a claim for insurance benefits, Lender Is
<br />auorized to collecnd apply the insurnce pcat ender's ptn either to restoration or repair of the Property or to
<br />he sum sechis Deed of Trust.
<br />Unless Lenderand Borrower otherwise agree in writing, any such application of proceeds to principal shall notextend 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 />instellments. 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 dama8e to the Property prior to the sale or acquisition
<br />shall pass to Lender to the extent of the sums secured by ihis Deed of Trust immediately prior to such sale or acquisition.
<br />G. Praorvatlon and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Dw Borrower shall
<br />keep the Property in good repair �nd shall not commit waste or permit impairment of deterioration o the Property end shall
<br />comply with the provisions of any se itthis 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, rrower sell perform all of rrowers obligations under the declaration or coveants reatingg or gvrning thcondnium or planned unit development, the by -laws and regulatlons of the condominium or
<br />pI n n ed unit development, and constituent documents. It a condominium or planned unit development rider is axcuted by
<br />Borrower and recorded together with this Deed of Trust, the covenants and a rooments of such .der shall be incorporated
<br />info and shall amend and supplement the covenants and agreements of this Geed of Trust as it the rider were apart hereof.
<br />7. Protection of Lender's Security. 11 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 effects Lender's Interest in the Property, including but not
<br />limited to, eminentdoma n, insolvency, code enforcement, or arrangementsor proceedings involving a bankruptor 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, It Lender requiredmortt age insurance as a condition of making the loan secured by
<br />the Do�l of Trust, Borrower shall pay the premiums required {o 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 agreementor applicalbe law.
<br />Borrower shall pay the amount of 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 become additional
<br />indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms 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 require Lender to incur any expense or lake any
<br />action hereunder.
<br />1. fsspection. Lender may make or cause to be made reasonable entries upon and inspections of 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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