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1004'77
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows
<br />t. Payment of Princtpat and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepa ment and late charged as provided In the Note, and the principal of and interest on
<br />any Future Advances secured by the of Trust.
<br />2. Fund• for Taxes and Irtsufartce. 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 Dead of Trust, and
<br />ground rants on the Property, it any, plus one - twelfth of yearly premium installments for hazard insurance, plus one - twelfth of
<br />yearly premium installments for mortpage insurance, if any, all as reasonably estimated initially and from time to time by
<br />LLend�r an the basis of a ants andd bills and reasonable eshmat ®s th ®rsof.
<br />The Funds shall be held in an institution the deposits or accounts of which era insured or guaranteed, by a Federal or state
<br />agency (including Lander if Lander is such an inshtution). Lender shall apply the funds to pay said taxes, assessments,
<br />Lender may not cherge for so holdingg and applying the Funds, analyzing said account
<br />insurance premiums and ground rents.
<br />or verifying and compiling said assessments and bills, unless Lander pays Borrower interest on the Fundsandappplicable law
<br />lender to make such a charge. Borrower and Lender may agree in wnimig at the time of exer ution of this Deed of Trust
<br />permits
<br />that interest on the Funds ahall be paid to Borrower, and unless such agreement is made or a licalbe law requires such
<br />to Borrower any interest or earnings on the Funds. Lender shall give to
<br />interest to be paid, Lender shall not be required pay
<br />Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for
<br />the Funds made. The Funds are pledged as additional security for the sums secured by this Deed of
<br />which each debit to was
<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 held by
<br />Lander shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due. Borrower shall
<br />date by Lender to
<br />Cto Lender any amount necessary to make up the deficiency within 30 days from the notice is mailed
<br />thereof.
<br />Borrower requesting payment
<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 Property is otherwise acquired by Lender, Lender shall apply,
<br />immediately to the sale of the Property or its acquisition by Lender, and Funds held by Lender atthe time of
<br />no later than prior
<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 />be by Lender first in of amounts payable to Lender by Borrower under
<br />and paragraphs 1 and 2 hereof shall applied payment
<br />paragrapn 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 />which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />proceedings
<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 approval by Lender; provided, that
<br />shall be paid in the manner provided
<br />such approval shall not be unreasonably withheld. All premiums on insurance policies
<br />under paragraph 2 hereof or, it 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 acceptabl ! to Lender and shall include a standard mortgage
<br />in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, and
<br />clause
<br />Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the eventof loss. Borrower
<br />shall give prompt notice to the insurance carrier and Lender. Lender raay 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 it Borrower fails 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 to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property or to
<br />Trust.
<br />the sums secured by this Deed of
<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 />installments. If under paragraph 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower in and to
<br />insurance and in and to the proceeds thereof resulting from damage to the Property prior to the sale or acquisition
<br />any policies
<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 />G. Preservation and Maintenance of Property; Lesseholds; Condominiums; Planned I.Init Borrower shall
<br />keep the Property in good repair and shall not commit waste or permit impairment of deterioration or the Property and shall
<br />in
<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 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 />unit development, and constituent documents. It a condominium or planned unit development rider is excelled by
<br />planned
<br />Borrower 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 it 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 if any action or proceeding is commenced with materially effects Lender's interest in the Property, including but not
<br />limited to, emment domam, 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 fees and
<br />the Property to make repairs. If Lender required mortgage insurance as a condition of making the loan secured by
<br />ant n
<br />the upo of Trust, Borrower shell pay the premiums required to maintain such insurance in effect until such time as the
<br />P�uirsm ®nt for such insurance terminates In accordance with Borrower's and Lender's written agreement or applicalbe law,
<br />mortgage insurance premiums in the manner provided under paragraph 2 hereof.
<br />trri)Wer shell pay fife amount of ate
<br />Any amounts disbursed by Lander pursuant to this pparaggraph 7, with interest thereon, shall become additional
<br />terms such
<br />i ittsao! Borrower secured by this Dead o1 Trust. Unless Borrower end Lander agree to other of payment,
<br />nls shaft payable upon notice from Lander to Borrower requesting paYment hereof, and shall bear interest from the
<br />the from lima to time on outstanding principal under the Note unless payment of interest
<br />dais of disbursementaf rata payable
<br />at such r Would txs cofltfary t0 apphcabla law, In which avant such amounts shall bear interest at the highest rate
<br />or take any
<br />permi underapplicabl�law.Not ingcontainadinthisparagraph7sha11requue Lender to incur any expense
<br />aCtien het'eLPider
<br />S. Inspeclim. Lender may make or cause lobe made reasonable entries upon and ,nspections of the Property, provided
<br />that Lender shall give Borrower notice prior to any such inspection specifying rnasonable cause therefore related to Lender's
<br />interest in the Prop ".
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