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V1.5 86— 102210
<br />tlsrnfsaas COVINAMn. BOrrdwer and lender covenant and agree a$ follows'
<br />1. /tyro," ed Rrladild said tasesattl. Borrower shalt promptly pay when doe the principal of and inletesi on the
<br />indeMadner evidenced by the Now. prgwymm and lore charges as provided in the Note, and the principal of and interest
<br />on an Future Advances secured by this Deed of Trust.
<br />- -- law by lender, Borrower
<br />7 F.aat for Teens and r, . Subject to applicable of to a written waiver shall pay
<br />Note, full,
<br />to Lender on the day monthly itntaliments of principal and interest are payable under the until the Note is paid to
<br />a two (herein "Funds ") pual to one- twelfth of the yearly texts and assessments which may attain priority over this
<br />Dead of Trust, and graced reels on the Trophy, if any, plus one-twelfth of yearly premium installments for hazard insurance.
<br />phis one•twelith of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to time by Lender on the basis if assessments and bilk and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which arc insured or guaranteed by a Federal or
<br />time agency (including Lender if Lender is such an institution). Lander shall apply the Funds to pay said takes, assessments.
<br />Insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account
<br />or verifying and compiling said assessments and bilk, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of thus
<br />Deed of Trust that interest on the Funds shall be paid to Borrower, and units% such agreement is made or applicable law
<br />requires such interest to be paid. Lender shat not be required to pay Borrower any inere%l or carnirt4s on the Funds. I.tnder
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and dehus to the Funds and the
<br />Cy rpon for which each debit to the Funds was nude. Thas Funds are pledged at additional security for the sums secured
<br />this Deed of Trued.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior u,
<br />the due dares of loxes, assessmen i. insurance premiums and ground rents, shall exceed the amount required to pay said uses.
<br />asseasments, insurance premiums and ground rents as they fall due, such execs% shall be. at Borrower's option, either
<br />promppttly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />insurance fall due.
<br />held by Lender shall not be suBcient to pay taxes, assessments, premiums and ground rents as they
<br />Borrower shall pay to Lander any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesiog payment thereof.
<br />Upon payment in full of all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower any Fr..Js
<br />held by Leadtr. II under paragraph Ig hereof the Property is sold or the Property is otherwise acquired by 1 ender. Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its acgnisitrnn by Lender, joy Funds held by
<br />Leader at the time of application as a credit against the sums secured by this Deed of f rust
<br />J. Appflledfen of f symerw. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall be ■p lied by Lender first in pa meet of amounts payable to Lender by Borrosscr
<br />under paragraph 2 hereof, then to interest payable . she Note, then to the principal of the Note. and then to interest and
<br />principal on any Future Advances.
<br />(. Cltarg", Lkas. Borrower shall pay all taxes. assessments and other charges. fines and impositions auribtu;t!IC to
<br />the Property which may attain a priority over this Deed of Trust, and lerchold payments or ground rents. if any. in the
<br />maeoer 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 Joe under this paragraph, and in the
<br />furnish Lender
<br />event Borrower shall make payment directly. Borrower shall promptly to receipts evidencing such payments
<br />Borrower shall promptly diseherpe any lien which has priority over this Deed of Trust; provided, that Borr nwcr shall nol he
<br />required to discharge any such Iten so long as Borrower shall agree in writing to the payment of the obligaunn secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such hen In.
<br />legal rocedin r s which operate to prevent the enforcement of the lien or fortaiture of the Property or any part thereof.
<br />f hereafter property
<br />H faauttict. Borrower shall keep the improvements now existing or erected on the insured
<br />against loss by fire, hazards included within the term "extended covers `e ", and such other hazards as I ender may require
<br />and in such amounts and for such periods as lender may require: provided. that Lettder shall not require that the amount ail
<br />such coverage exceed that amount of coverage required to pay the rums secured by this Decd of 'Frost
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by I ender, provided.
<br />that such o roval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
<br />Provided under paragreptu 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />tasurallce carrier.
<br />MI insurance policies and renewals thereof shall be in form acceptable to I trader and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lender shall have the right to hall the Pultots and renewals thereof,
<br />and Borrower shall promptly furnish to Lender all renewal notices and rill receipts of paid prcmwms In the went of loss.
<br />Borrower shall give prompt notice to the insurance carrier and Lender. Lender may malt proof of toss If not made prompfl�
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds %hail he applied to ic.toiation or repair of
<br />the Property damaged, provided such restoration or repair its economically feasible and the security of this Deed of Trust t,
<br />not thereby impaired. if such restoration or repair is not economically feasible or If the security of this Deed of T rust would
<br />be Impaired, the insurance proceeds shall be applied to the sums secured by this Decd of Trust, with the excess. if any, paid
<br />to Borrower. If the Property is abandoned by Borrower, or it Borrower fails to respond to Lender within 30 day, from the
<br />date notice is mailed by lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits. I.endcr
<br />I% snhorittd to collect and apply the insurance proceeds at Lender's option either it) restoration or repair of the Properly
<br />of to the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agret in writing, any such application of proceeds to principal shall nut extend
<br />or patpone the due dine of the monthly instalments referred to in ;.aragraphs I and ? hereof of change the amount of
<br />such installments If under paragraph Its hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />to and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
<br />u 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 />i. Preservation and Maintenance of Property; IeaaehoWs; Candominlums; Planned Unit Developments. Borrower
<br />shall keep the Property to good repair and shall not commit waste or permit Impairment tit Jciciiaruhon of the Properly
<br />and shall comply with the provisions of any lease If this Deed of Trust is on a leasehold. If this Deed of Trust is on a unit in at
<br />condominium or a planned unit development. Borrower shalt perform all of Borrower's obligations under the declaration
<br />of covenants creating or governing the condominium or planned unit development, the bylaws and regulations of she
<br />condominium or planned unit development, and constituent documents. If a condominium or planned unit development
<br />rider is executed by Borrower and recorded together with this Deed of Trust, the covenants and agreement, of such rider
<br />shall he incorporated into and shall amend and supplement the covenants and agreements of this Deed of Trust a% if the rider
<br />were s part hereof.
<br />7. 111 a"pea of Ia"res Secarlly. If Borrower fails to perform the covenants and agreements contained in this
<br />Dead of Trw, or if any action or proceeding is commenced which materially affects Lender's interest in the Property.
<br />including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
<br />bankrupt or decedent, then Lander at Lender's option, upon notice to Borrower, may snake such appearances, dishurse such
<br />sums and take such acCan as is necessary to protect Lender's interest, including, but not limited to, dishusement of
<br />(a"
<br />feaaonshle attorney's and entry upon the Propertyy la make repairs If Lender required mortgage insurance as a
<br />condition of making the ban by Dodd
<br />secured this of Trtlst. Botrower shall pay the premiums required to maintain such
<br />irnurance in tffect until such time as the requirement for such Insurance terminates to accordance with Borrower's anal
<br />Lender's written agreement of applicable law. Borrower shall pay the amount of all morlgage msursnce picnuurns n. the
<br />manner provided under paragraph 2 hereof.
<br />Any disbursed
<br />amounts by Lttmkr pursuant to this paragraph 7, with .merest thereon shall become addmtm.J
<br />in& Mss of 801rowtr secured by this [seed of Trust Unless Borrower and I ender agree its other tctn!% of
<br />payroenr, s.,,h
<br />amounts shall he payable upon notice from i trader to Bcttiowtr requesting Payrntnf lhercuf, and shall hear interest from the
<br />dart cif disbursement at she rase payable from time to time on outstanding pfincipat under the Note tutless payment of interest
<br />u such rate would be contrary to applicable law, an which event such amounts bear
<br />shall n!rresf at the h.jchest rate
<br />permissible under applicable, law. Nothing contained In this paragraph ' shall irquac i_fndet tic• .ncur any expense of take
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<br />any action hereuoder
<br />IL Isrpteslon. 1 eradef may mane or cauw to be made ressonahie efiules enri insi c, ; of the F �af� rty pl,,,,.IcJ
<br />Lt
<br />that I endtr %hail give Borrower notice Palo( to any such Inspection trrc,lymg tray rrah.r ,. auu ibt+elni �elaned w t cnJo ,
<br />interest In the Proneriv
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