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VI-5 86'axea
<br />101871
<br />UNIIt"M Cove"AMt7 sweeter and Lender cnvewanr and agree as follows"
<br />f. Payment of Pobwipd "d bassinet. am owes slwB pronp" pay wisp due the Principal of and interest on the
<br />iwdsbredwsas evidenced by On Ness, ptcpayrwwt ad fees Chasbas r pswvdd in the Noss, and the principal of and interest
<br />on any Frnure Advaereto setcurd by this DDteeedd of Tram.
<br />2 /awtht tar T" uteri leawraes. Subject 10 apphealle hw or to a written waiver by Lender. Bonwrer sbah pay
<br />to !.ender on the day nsewthly iWalMeeMs of principal and intent are payable ualcr the Note, until the Note is paid in till,
<br />a awn iharew "eland ") NuM lwonatoteffth of fie yearly latter and aaessmerge which may attain priority over this
<br />Dead of Trust, and poeud rents on the Property, if any, plus one - twelfth of yearly Premium installments for ha »rd insurance
<br />plus one - twelfth of yearly premium instaloncem for mortgage insurance, if any, all as reasonably estimated initially and Irism
<br />lease to time by Leader on the basis of asseeamewts and bilk and aeasoo"k estimates shercof.
<br />The Funds shell be held in an iaeeAution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taus, assessments.
<br />insurance premiums and ground tents. Lender may not charge for so holding and applying the Funds, analyzing said account
<br />or verifying and Compiling said ssssssmats and bilk, unless Lender pays borrower interest on the Funds and applicable law
<br />psrwuts Lender to nape such a ehaege. Borrower and Lender may agree in writing st the time of execution of this
<br />Deed Of Trust that intent on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, tender ►hat "be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without chair. an annual aeeoemting of the Funds showing credits and debits to the Fund% and the
<br />purpose foe which said it debit to the Punds was made. The Fends are pledged cs additional security for the sums secured
<br />by this Deed of Trust.
<br />If the amount of the Funds hold by Lender, together with the future monthly installments of Funds payable prior it,
<br />the due dates of tars, asaesernerts, ieetsreace premiums and ground rents, shall exceed the .amount required to pay smd eases.
<br />ann wwom insurance premiums and ground rents as they fall due, such earns shall be. at Sorrowed s option, either
<br />pr -or th repaid to borrower or credited to Borrower on mom My installments of Funds. If the arnoten1 of the Funds
<br />held by Leader shah not be kuffficeea to pay taxes, assessments. insurance premiums and ground rents as they fail due.
<br />Borrower shall pay to Leader any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lander to borrower requ"ag payseen tbettof.
<br />Upon payment in full of all sums secured by this Deed of Trust, fender shall promptly refund to Borrower any Ft•...J%
<br />held by Lender. if under paragraph it hereof the Property n% sold or she Property is otherwise acquired by 1 ender. t ender
<br />shall apply, no later than immediately to the sale the Property its by Lender, Funds
<br />prior of or acgmsilion any held by
<br />Lender at the time of application as a credit against the sums secured by this Deed of Trust
<br />3. Appiteaflew Of losiyustenls. Unless applicable law provides otherwise, all payment% received by Lender under the
<br />Nam and paragraphs I and 2 hereof shall be applied by Lender Ent in pa men! of amounts payable n, L cider by Borrower
<br />under 2 hereof, then to interest the Note.
<br />paragraph payable on then to the principal of the Note. and then to interest and
<br />principal on any Future Advances.
<br />a. Classifies; liens. Borrower shall pay all taxes. assessmem% and other charges. fines anJ impositions anrihutattk to
<br />the Property which may attain a priority over this Deed of Trust. and iea-. nsld payments or ground rents. if any. in the
<br />maarr 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 shah promptly furnish to Lender all notices of amounts due under this paragraph, and in the
<br />event borrower shall make payment directly. Sorrower 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 he
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of she obhgau„n secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, of defend cnforcemem of such lien in
<br />legal prtceedin s which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof,
<br />I Lleeaei Inwutrawce. Borrower shall keep the improvements now existing or hereafter erected on the Properly insured
<br />against loss by fire, hazards included within the term "extended coversgs ", and such other hazards as Lendcr may rcqu,rc
<br />in for Lender
<br />and such amounts and such periods as 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 Trots
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by I ender. provide,[.
<br />that such approval shall not be unreasonably withheld All premiums on Insurance policies shall be 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 />Irmaece carrier.
<br />Alt insurance policies and renewals thereof shall be in form acceptable to I ender and %hall include a tundard motigage
<br />clause in favor of and in form acceptable to Lender. Lender shall have the tight to hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish to Lender all renewal notices 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 mai a proof of lot, if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in wfiling. insurance proceeds shall be applied to re%toration or repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the security of this Deed of Trust r,
<br />not thereby impaired. If such restoration or repair is not economically feasible or if the security of the% Deed of Triisf would
<br />be impaired, the insurance proceeds shall be applied to The sums secured by this Deed of Trust, wtth the c%cea. if any, paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower fads to respond to Lender within 30 days from the
<br />date pace is mailed by Lender to Borrower [hat the insurance carrier offers to settle a claim for insurance benefit,. Lender
<br />tt authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or a the sums secured by this Deed of Trent.
<br />Unite lender 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 referred to in paragraphs I and 2 hereof or change the amount of
<br />such installments. If under paragraph IN hereof the Property is acquired by Lender. all right, tiflc and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior in she sale
<br />or acquisition shall pass to Lender to the talent of the sums secured by this Deed of Trust immediately prior to such sale or
<br />aequaition.
<br />d' PmtnaNso load MahMenwwce of Preparlyt Leseetrolds; Condowirtrwe; Planned Unit DevelopwreMs. Borrower
<br />%hall keep the Property in good repatr and shall not commit waste ear permit intpairmeni of deterioration of the Property
<br />and shall comply with the provisions of any lease if this Deed of Trust is on a kaschold. If this Deed of Trust is on a unit in a
<br />condominium or a planned unit development. Borrower shall pedorm all of Borrower's obligations under the declaration
<br />or covenants creating or governing the condominnsm or planned unit development, the by-laws and regulations of the
<br />condominium or planned unit development, and constituent documents. If a condominium or planned Unit devclopmcni
<br />rider is executed by Borrower and recorded together with this Deed of Trost, the covenants and agreenicnts of such rider
<br />shall he incorporated into end shall amend sod suppkment the covenants and agreements of this Deed of Trust a, if the rider
<br />were it pan hereof.
<br />1• hMeeMaw of Lettleart Seeewky. If bofrowmr (Bill 10 perform the covenants and agreements contained in the%
<br />Dead of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in The Property.
<br />including, but not limited to, eminent dOmein, insolvency, code enforcement, or arrangements or proceedings involving a
<br />bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower, may make such
<br />appearances di%hurse such
<br />sues and take such r Lion as is necessary Io prerect Lender's interest. including, but not limited to, di%hur%emeni of
<br />1"Woushte alorney's foss and entry upon the Troperly to make repairs If Lender required mortgage insurance a, a
<br />C-&hon of making the loan secured byy this Dent of Trust. Borrower shall pay the premiums required In maintain such
<br />interstice in effect WAN such time at the rt"of extent (or such insurance iermmatn in accordance with Borrower's
<br />and
<br />Lender k written sgreemem or agi[cable law. Borrower shall pay the amount of all morlgagt insurance premiums in the
<br />"WNW( Provided se Wet per apapfr 2 hereof.
<br />Any atows disbursed by Lender pursuant to this paragraph 7, with interear tbercnn %hall become addnn,n.il
<br />indrMednets of borrower eseurtd by this Deed Trust
<br />L
<br />of Unless Borrower and I ender agree to other tcrnts of payment ,u, h
<br />ornounit shelf he payable upon patce from Iendsr eo Borrower requesting payment thereof. and shall hear from
<br />interest the
<br />daft of dltburssnwni at the rate payable from rinse to time on outstanding principal under the Note unlets payment of interest
<br />It such rare would use contrary to applicable law,
<br />in which event such amounit shall hear mfere%t st the h-jlhesr rate
<br />permissible under applicable law Nothing contained in this paragraph 7 shall require Lender to
<br />any action htreuxeer recur any expense or take
<br />(Oj
<br />S. faaPe%stap. Lander may make. ur tausc to be made rrasonahle entries upon am.l �rjtpe(, ,,,,, „i ,hc p7uprr,y
<br />that I ender $hall B,ve gotrawtr notice
<br />prior to any such inspection speCif)img reaionantr i arse therefor ,clued in 1 onJet .
<br />Warfel in tM Property
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