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<br />86, 100649
<br />UNIFORM COVeNANTS. Bornlwer and I_Coucr eox'tl;:tnt and acme as follows:
<br />1. Payment of:Prnreipal and Interest. Borrower slia €i promptiv pay when due the principal of and interest on tits
<br />nulehtednecs evidencod >'byifte Note, prepayment and fat, charges as provided in the Note, and the principal of and interest
<br />on any Future AAkances saLurcd by this Deed Or I runt.
<br />2. Fuais far T=in and Insurance. Sublet to applicable law or to a written waiver by Lender, Borrower shall 'pay
<br />to lender oil the day monthly installments of prim :ipal and interest are payahle under the Note, until the Note is paid in (till,
<br />a sum ffrcrein "Fuels'i equal to one- twelfth of the yearly taus and assessments which may attain Priority over this
<br />Deed of Trost, and ground rents on the Property. if any, plos one - twelfth of yeariy premium installments for hazard insurance.
<br />plus one - twelfth of yearly premium installments for mortgage insurancc it an . all as reasonably estimated initially and trom
<br />time to time by Lender on the basis of assessments and 'bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accouttu< of which are insured ear guaranteed by a Bederal or
<br />state agency (including Lender if Lender is such an institution). 1_cnder shat€ apply the Funds to pay said taxes. assessments.
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Foods, 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 •r charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Deed of Trust that interest on the Funds shall he paid It-, Borrower. and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not he required to pav Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds stirring credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was trade. The Funds arc pledged as additional security for the sums secured
<br />by this Deed of Trust.
<br />If the amount of the Fiends held by Lender. together with the future monthly installments of Funds payable prior to
<br />the due 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 tail due, such excess shall he-. 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
<br />held by Lender shall not be sufficient to pay taxes, assessments. insurance premiums and ground rents as they fall due.
<br />Borrower shall pay to Lendersny amount necessary ui make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Deed of Trust. Lender shalt promptly refund to Borrower ate- Funds
<br />held by Lender. If under paragraph 13 hereof the Property is sold or the Property is otherwise acquired by Lender. Lender
<br />shall apply. nn later than immediately prior w the sale of the Property or its acquisition by Lender. any Funds held by
<br />Lender at the time of application as a credit against the sums secured by this Deed of Trust.
<br />3. AppUcalion of Payments. Unless applicable law provide-: othemise. all payments recer;cd by Lender under the
<br />Mote and paragraphs i and 2 hereof shall he applied Iry Land;:- first in pavmeni of amounts payable to Lender by.Borrowcr
<br />under paragraph 2 hereof, then to interest payable on the Note. then it) the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />q. CYrnges;`Liens. Borrower shall pay all taxes. assessments and other charges. fines and impositions attributable to
<br />the Property which may attain a priority over this Deed of Trust. and leasehold payments or ground rents, if any, in the
<br />manner provided under paragraph .2 hereof or, if not paid in such manner. by' Borrower making payment, when due, directly
<br />to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph. and in the
<br />event Borrower shall make payment directly. Borrower shall promptiq furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority oscr thts Deed of Trust: provided. that Borrower shall not he
<br />required to discharge any such lien so long as Borrower shall agree in writing to the Payment of the obligation secured b%
<br />such lien in a manner acceptable to Lender, or shall in good faith contesi such lien by, or defend enforcement of such lien in.
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />S. !Aaaard!Iowrance. Borrower shall keep the improvements nose existing or hereafter CrCeled 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 pip' the sums secured by this Deed of Trust.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject it, approsa! hx' Lender: provided.
<br />that such approval shall not be unreasonably withheld. All premiums on insurance policies shall he paid 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 />insurance carrier.
<br />All insurance policies and renewals thercot shall be In torn: acceptable u, 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 thercot.
<br />and Borrower shall promptly furnish to Lender all renewal notice, and all receipts of Paid Premiums. in the event of loss.
<br />Borrower shall give prompt notice to the insurance carrier and Lender. Lender may' make proof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall he applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair is ,:conomicalh icasihlc and the security of this Deed of Trust is
<br />not thereby impaired. If such restoration or repair is not economically feasible or It the security of this Deed of Trust would
<br />be impaired, the insurance proceeds shall be applied to the sums secured by this Deed 44 Trust, with the excess. if any, paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower fails m respond ni Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for Insurance benefits. Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or to the nuns secured by this Deed of Trust.
<br />Unless Leader and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments reierrcd to in paragraphs I and 2 hereof or change the amount of
<br />such installments- If under paragraph Is hereof the Property is acquired hN Lender. all right, title and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resulting tram damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the extent of the sums secured by this Deed of Trust immediately prior to such sale or
<br />acquisition.
<br />f. Pnsaraliust and tilainseasnee of Property; Leaseholds; Condominiums; Planted Unit Developments. Borrower
<br />shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property
<br />and shall comply with the provisions of any lease if this Deed of Trust is oil a leasehold. If this Deed of Trust is on a unit in a
<br />condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration
<br />or covenants creating or governing the condominium or planned unit development, the by -laws and regulations of the
<br />eondommm iu or planned emit development. and constituent documents. If a condominium or planned unit development
<br />rider is d by Borrower and recorded together with this Deed of Trust, the covenants and agreements of .such rider
<br />shall be incorporated into and stall amend and supplement the covenants and agreements of this Deed of Trust as if the rider
<br />were a part hereof.
<br />7, lsoKeYsu of Lessor's Security. If Borrower fails to perform the covenants and agreements contained in this
<br />Deed of Trust, or if any action or proceeding is _commenced which materially affects Lender's interest in the Property,
<br />iaehu i4, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
<br />bankntpt or decedcar, thaw Lender at Leuder's option, upon notice to Borrower, may make such appearances, disburse such
<br />sums and sake tttseh action as is necessary to protect Lenders interest, including, but not limited to, disbursement of
<br />reasonable attornoy's fees and .entry upon the Property to make repairs. If Lender required mortgage insurance as a
<br />condition of raking the loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain such
<br />insurance in.eSect until such time as the requirement for such insurance terminates in accordance with Borrower's and
<br />Lrmder's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Leader pursuant to this paragraph 7, with interest thereon. shall become additional
<br />indebtedness of Borrower secured by this Deed of Trout. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts still be payable upon notice from Lender to Borrower requesting payment thereof. and shall hear interest from the
<br />dale of 1i gwi writ 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 shalt bear interest at the highest rate
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall requre Lender to incur any expense or take
<br />any action hereunder.
<br />B. ----- -lisp. Lender may make or cause to be made reasonable _ntrtc. upon .tin! :uspccuom o file Pmperts, pm.Acd
<br />that Lender shall give Borrower notice prior to any such inspccunr. xpcciiving r a ni.iht c.ir, rtrselu related reset
<br />interest in the Provertv
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