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t6-- 103$78
<br />UNIFlassi COvHNAMS- Borrower and Lender covenant and agree as iollows:
<br />I. Payment of Principal and interest. Borrowcr shall promptly pay when due the principal of and interest on the
<br />indebledness evidenced by the Note, prepayment and laic charges as provided in the Note, and the principal of and interest
<br />on an yy Future Advutxcs soured by this bred of Trust.
<br />2. Funds; for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to lender on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in ftdl
<br />a sum (herein "Funds ") equal to onc.lwclfth of the yearly taxes and assessments which may attain priority over this
<br />Deed of Trust, and ground rents on the Property, if any, plus onc•tweifth of yearly premium installments for hazard insurance.
<br />plus one - twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />lime It, time by Lender on the basis of assessments and hilts and reasonable estimates thereof.
<br />The Funds shall be held in an institution 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 taxes, 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 bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and lender may agree nt writing at the time of execution of this
<br />Deed of TrL,SI that interest on the Funds shall be paid to Borrower, and unless such agreement rs made or applicable law
<br />requires such interest to be paid, Lcoder shall not be required to pay Borrower soy interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />by this reed of Trust.
<br />If the amount of the Fonds 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 !^ pay said taxes.
<br />assessments, insurance premiums and ground rents as they 1311 due, such excess shall lie, 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 he sulBcient to pay taxes. assessments, insurance premiums and ground rents as they full due.
<br />Borrower shall pay to Lender any amount necessary to 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 shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Property is sold Air the Property is otherwise acquired by lender. Lender
<br />shall apply, no later than immediately prior to 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. Application of Payments. Unless applicable law provide, otherwise, all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall he applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Charges; Lions, Borrower shall pay all taxes, assessment, and other charges, fines and ,,'positions atiriburthic 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 ti: Lender all notices of amounts due under this paragraph, and in the
<br />event Borrower shall make payment directly, Borrower shall promptly r'urnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharp any lien which has priority over this Dced of Trust; provided, that Borrower shall not he
<br />required to discharge any such lion so long as Borrower shall agree in writing to the payment of the obhgalion secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith conies, such lien by, or defend enforceme n: of such lien in.
<br />legal roceedings which operate to prevent the enforcement of the lien or forfeaure of the Property or any part thereof.
<br />I Hazard insurance. Borrower shall keep the Improvements now exnnng or hereafter erected tin the Property insured
<br />against loss by fire, hazards included wuhr^ the term "e.ctencied coverage and ach other hazard, as I ender may require
<br />and in such amounts and for such periods as Lender may rcgtore; provided, that fender ,hall not require that the amount of
<br />such coverage exceed that amount of coverage required to pav the sums secured by this Deed of i rust
<br />The insurance carrier providing the insurance shall be chosen by Borrower suhtcct It. appro%ai by I ender: I v J.
<br />that such approval shall not he unreasonably withheld All preriums on mswamc policies shall he paid in the m
<br />provided under paragraph 2 hereof or, it not paid in such manner, h n
<br />s Borrower W1,111g paym anner
<br />ent. when due, directly a the
<br />insurance carrier.
<br />All insurance policies and renewals thereof shall he in form acceptable to lender and %half include a standard mortgage
<br />clause in favor of and in form acceptable to I ender I ender shall hate the right lit hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish to Leodcr Al renewal noti..e, and alt rcoelpts of paid prenniorm in the event of loss.
<br />Borrower shall give prompt notice to the Insurance cars ier .ind 1 ender I It rn.iy make proof of lass If not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in venting, msuraocc proceeds hall he applied it, restoration or repair Of
<br />the Property damaged, provided such restoration or repair !0 cLonumlcadly feasible .Ind the %county of this Decd of Trtrst r%
<br />not thereby impaired. if such restoration or repair t% no, economically feasible or If the %county of this Deed of Trust would
<br />be impaired, the insurance proceeds shall he applied to the sum, soured by this Deed of I ru %I, wnh the cxoes %, d Jill'. paid
<br />to Borrower. If the Property is abandoned by Borrower, nr if Borlt-cr Lids to respond to i ender within 30 day% from the
<br />date notice is mailed by lender to Borrower that the insurance carrier olleis to settle a claim for insurance benefit%. f ender
<br />is authorized to collect and apply the insurance proceeds at I cider's option either to restoration or repair of the Propc
<br />or to the sums secured by this Deed of Trust. ny
<br />Unless Lender and Borrower otherwise agree In writing, any such apphcalion 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 Id hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resulting Iron damage I,) the Properly prior to the sale
<br />or acquisition shall pass to Lender to the extent of the sums secured by this Deed of Crust inurredlalely prior it) such sale or
<br />acquisition.
<br />b. Preservation and Maintenance of Properly; Leasehulds; Condominiums; Planned UnIt Developments. Borrower
<br />shall keep the Properly in good repair and shall not commit waste or pernur impaunient ter detenor: iton of the Property
<br />and shall comply with the provisions of any lease if this decd of Trust is on 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 hy•laws and regulations of the
<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 agreements of such rider
<br />shall be incorporated into and shall amend and supplement the covenants and agreements of this Decd of hrust as If the rider
<br />were a part hereof.
<br />7. Protection of fender's Security. If Borrower fads to perform the covenants and agreements contained in this
<br />Deal of Trust, or if any action or proceeding is commenced which matcr:nlly alfects 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 Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such
<br />sums and take such action as is necessary to protect Lender's interest, including, but not lirnted to, disbursement of
<br />reasonable attorney's fees and entry upon the Propcny to make repairs. if Lender required mortgage insurance as a
<br />condition of making the loan secured by' this teed of Trust, Borrower shall pay the premiums required to ntairi such
<br />insurance in effect until sues time as the requirement for such insurance terminates in accordame with Borrower's :Ord
<br />Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage Insurance prertuums in the
<br />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 Borrowcr and 1 ender agree go tither terns of paynunt, such
<br />amounts shall be payable upon notice from I ender to Borrower iequestmg payment thereof, and shall hear interest front the
<br />date of disbursement at the rate payable from time to time nn out%tandung principal under the N11c unless payment of interest
<br />At such rate would be contrary to applicable law, in which event ach amounts shall bear Interest at the highest rate
<br />permissible under applicable law. Nothing contained in this paragraph 7 01-11 require I ceder to Incur env esprnse or take
<br />any action hereunder
<br />III. inspection. Lender may make or caase to be made real mahic cnlne% upon an,( ny,c, i-tis nr thr Plopett0 ;,m,idod
<br />that Lender stall give 11 —lowci notice prior to any .uch mspecurl *; sgA:,dvrng rea0u11a0,4 " "I't: lheiclo, ty,dcd I :ndcr .
<br />interest in iha Property
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