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86, 103965
<br />UNIFORM COVENANis. Borrower and Lender covenant and agree s follows:
<br />1. Payment of Principal and lnteresti. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note. prepayment and lase charges as provided in the Note, and the principal of and interest
<br />on any Future Advances sectored by this Deed of Trust.
<br />2. Funds for Taxes and lnsarance. Subject to applicable law or to is written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly installments of principal and interest are payable tinder the Note, until the Now is paid in full.
<br />a sum (herein "Funds ".1 equal to one - twelfth 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 one- twelfth 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 />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 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 [.ender 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 this
<br />Deed of Trust that interest on the Funds shall he paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and dehits to the Funds and the
<br />purpose for which each debit to the Funds was matte. The Funds arc pledged as additional security for the sums secured
<br />by this Deed of Trust.
<br />If the amount of the Funds 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 fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited In 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 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 19 hereof the Property is sold or 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 provides otherwise, all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall be 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; 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 tluc under this paragraph, and in the
<br />event 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 he
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith contest suck) lien by, or defend enforcement of such hen in.
<br />legal pproceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5. 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 "evended 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 suns, secured by this Decd of )'rust.
<br />The insurance carrier providing the insurance .hall tie chosen by Borrower subject to approval by I ender: provided.
<br />that such approval shall not be unreasonably withheld All prenuunis on insurance policies shall he paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, hi Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renewals thereat shall be ua Corm acceptable io Lender and shall include a standard mortgage
<br />clause in favor of and in form accepi,ihle to Lender. Lender shall have the right 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 I ender. tender niay make proof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in is riling, instuance proceeds ,hall he applied to restoration or repair of
<br />the Property damaged, provided such restoration or re;iair is econonucally feasible .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 he applied io the surns secured by this Decd of "Ioust. with the excess, if any, paid
<br />to Borrower. if the Property is abandoned by Borrower. or it Bonowcr fads to respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the insurance earner offers to settle a claim for insurance heneftts. Lender
<br />is authorized to collect and apply the insurance proceeds at Lcnder's option either to restoration or repair of the Property
<br />or to the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree tit 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 IX 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 from damage to the Property prior to the sate
<br />or acquisition shall pass to Lender to the extent of the sums secured by this Deed of Trust immediately prior to such sate or
<br />acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />shall keep the Property in good repair and shall not coninut waste oo permit impairment or deterioration of the Property
<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 to it
<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 "1 rust, the covenants and agreements of such rider
<br />shall be incorporated into and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider
<br />were a part hereof.
<br />7. Protection of Lender's Security. if Borrower fads 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 ire the Property,
<br />including, but not limited to, eminent domain, urisolvency, code enforcement, or arrangements or proceedings invoking a
<br />bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower, may inake such aplxarances, disburse such
<br />sums and take such action as is necessary to protect Lender's interest, including, but not limited lo, disbursement of
<br />reasonable attorney's fees and entry upon the Property to make repairs It Lender required mortgage insurance as it
<br />condition of making the loan secured by this Deed of Tntst. Borrower shall pay the premiums required to maintain such
<br />insurance in effect until such time as the requirement for such insurance terminates ni accordance with Borrower's and
<br />Lender's written agreement or applicable law. Borrower shall ray the aniount of all mortgage insurance prcmnnns in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon Oi ll heconie additiondl
<br />Unless Borrower lender
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<br />indebtedness of Borrower secured by this Deed of Trust. and IgIC to other lUmx of pt}mers. such
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment ihervot :end shall I c.,i interest stint the
<br />date of disbursement at the rate payable trom time to tune can oilt,tianding pnnopal ender ii -- Note w ,less painienr of interest
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<br />at such rate world be <intrary to applicable law. ill which clverll ach arni"Int 1-.zlf reu mtole,l at the highest rzk•
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<br />petmissible under applicable taw ?Nothing, emitioned it this , - ,i_graph - vhail :o lei 'c I ender ni Incur am cxlic.nsc or ta1.e
<br />any ae'tion herrandev
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<br />1t. fai}ection. 1 ender may make or cause to f,c find, reawnahfc :ntnrs ,.,I, -•n o", ,.r 11,of,rtts ,led
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<br />that I.etider %hall;t+se Borrower nouce pr;-r tn;wi �udl 1,isjV',l ,n .;n ,)trig t..�, ,.,',..e ,,nr.a th; o10 i,,Ic.r .i
<br />;ntcraai in the Property
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