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VI-5
<br />Uwcrosm CovewawTS. Borrower and Lender covenant and agree as follows: 85-- 001113
<br />t• Ppftmol of Pelnelpl and too""" Borrower shall promptly pay when due the principal of and interest on the
<br />i evidamced by theNole. pespysnant and tole charges as provided in the Note. and the principal of and ja e"
<br />on as Future Advances imired by this Oeed of Trusl.
<br />> IAaHr ter 7baee anal knatmmmsti. Subjad to Applicable: law or to a written waiver by Lender, Borrower shall
<br />o tender as the day monthly i stallm ents of principal and interest are payable under the Note, until the Note is paid in ulf
<br />a "m (herein "Funds ") equal Wilne- twelfth of the yearly lain and •uessments which may attain priority over this
<br />Dad of Trust, and grppsd rem at the Property, if any, plus one twelfth of yearly premium installments (or hoard Insurance.
<br />Plus One -twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and tram
<br />lane to floe by Leader an the bait of solftssee nts and bilk and reasonable estimates thereof.
<br />The Funds "be held in on•intlNnlion the depaits or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an initiftttiot). Leader shell apply the Funds to pay said tarts, assessments.
<br />insurance premitmns and ground rents. Leader may not charge for so holding and applying the Fmsds, analysing said account
<br />or verifying and compiling said assessments and bills. unless Lender pays Borrower interim on the Funds and applicable law
<br />permr�s L.a Wa to make ttuch_a charge. Borrower wW Lender may agree in writing at the lime of execution of this
<br />Deed of Trust that interest on the Fonds shall be paid to Borrower, and unkas such agreement is made or applicable law
<br />requires such interest to be paid. Lender shelf fiew be required to pay Borrower any mereN or carninpit on the Funds. Lender
<br />Nall Site to Borrower, without charge; an annual accounting of the Funds showing credits and debits to the Funds and sbe
<br />Postpone by for which cads debit to the Funds was made. The* Funds are pledged as additional sxwity for rte sums secured
<br />Ilia Deed of;=.
<br />If the tanoutit of the Funds hold by Lender, together with the fultim monthly iruamments of Funds payable prior to
<br />the due dates of taw, assewnemis. insurance premiums and ground rents. shall exceed the amount required to pay said tunes,
<br />moossments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's orlon, either
<br />promptly repaid to Borrower or credited to Borrower on monthly inadmenfs of Funds. if the amain of the Funds
<br />held Leader shah no be sufficient to pay taxes. aseesstremts. insurance premiums and grand rents as they fail dote.
<br />Borrower shell pay to Lender any amount necessary to make up the deficiency within 30 rays from the date notice is mailed
<br />by L.otsder to burrower rogswtiog paytsxat thareof.
<br />Upon payment in full of all sums secured by this Deed of Trust, I.tnder shall promptly refund to Borrower any Fc.,Js
<br />held by Lender. If wrier paragraph 111 hereof the Property m sold or the Property is otherwise acquired by 1 ender. Lender
<br />it" apply, no later than immediately prior to the sale of the Property or its acquisloon by Lender. any Funds held by
<br />Leader +thehe 1i� application as a credit against the sums secured by this Deed of Trust.
<br />and Unless applicable law provides otherwise, elf payments received by Lender under the
<br />Neste and per•graphf 1 and 2 hereof shall be apples by Lender first in payment n( :mounts payable to L ender by Borrower
<br />under paragraph 2 ereafh t, then to interest payable on the Note, then to the principal of the Note. and then to interest and
<br />principal of any Future Advances.
<br />0- Chage•: tkw Borrower 'half pay all taxes, asseumenrs and other charges. fines ante -impositions ammribulable to
<br />the Property which may Main a priority over this Deed of Trust, and leasehold payments or ground rents. if any, in the
<br />fnIomw for VIOV Od under Paragraph 2 hereof or' if not paid in such manner, by Borrower making payment, when due, directly
<br />payee thereof. Borrower shall promptly furnish to Lender all notices of ammunls dime under this paragraph, and in the
<br />event Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing snitch payments
<br />Borrower shall promptly discharge any lien which has priority over this Deed of Trust: provided. that Bonnwcr shall not be
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligadltn secured by
<br />such lien in a Mercer Keeps" to Lender, or shall in good faith contest such lien by, or defend enforcement of such teen m.
<br />fspl fmccdinp which operate to prevent the enforcement of she lien or forteittuc of the Property or any pan thcrcnt.
<br />a• Naari laawrce. Borrower shall keep the improvements taw existing or hereafter erected on the Property ensured
<br />against hats by fire, hazards included within the term "extended coverage and such other fiazards as Lcndler may requtrc
<br />and in such amounts and for such periods as Lender may require; provided. that Lemke shall not require that the amount of
<br />such covtrsge exceed that amount of coverage required to pay the sums secured by MIS Deed of Trust.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subfect to approval by lender: provided.
<br />chat such approval doll no be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
<br />piewirided seder pacraillensphe 2 hereof or, if not paid in such manner, by Borrower making payment, when dote, directly to the
<br />All imurence policies and renewals thereof shall be in form acceptable to f ender and %hall Include a ssandard mortgage
<br />elate in faro of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof.
<br />and Borrower shelf promptly furnish to Lender all renewal notices and all receipts of pied prcmoems In the event of loss.
<br />Bwtower SM•k give prompt notice to the insurance carrier and Lender. Lender may make Proof of loss If not made promptly
<br />by Bwrotver.
<br />Unless Lender sad Borrower otherwise agree in wrung, insurance procec is shall be applied to restoration or repair of
<br />she Property damaged, provided such restoration or repair a economically feasible and she security of this Deed of Tnutt is
<br />cot thereby impaired. If such restoration or repair is not economically feasible or if the security of this teed of Trust would
<br />be Impsrrad. 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 if Borrower fails to respond to Lender within 30 days from the
<br />dole nice is mailed by Lender to Borrower the the insurance caller orters 10 settle a slam for instmance benefit, Leader
<br />is autbaited to callus and apply the insurance proceeds at Lender's option either to restorahon or repair of the Property
<br />or to the sam secured by this Dead of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of Proceeds to principal shall not extend
<br />or Postpone the that date of the monthly instalimenit referred to in paragraphs I and 2 hereof or change the amount of
<br />such installments. If under paragraph IM hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />I" and o any insurance policies anndd i and to the proceeds thereof resulting from damage to the Properly prior to the sale
<br />or acquisition shall pass to Lender to the extent of the own secured by this Deed of Trust Immediately prior to such sale or
<br />segWeition.
<br />d Preesevtttgan fad bld0eisamee of Prer"a Ltastbolds; Conderahmlums; Plaud Unft Dmveloprnents. Borrower
<br />Mall keep the Property in good repair arid shall not commit waste or permit Impaunscnt or detcriorallon of the Property
<br />and 11:11 comply with the Provisions of any lease if INS Deed of Trust is on a leasehold. It this Deed of Trust is on a unit in 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 by•Isws and regulations of she
<br />condomauwn or Plated unit development, and constituent documents. If a condominium or planned letter deselopmeni
<br />rider is executed by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such rider
<br />shall he incorporated into mad Mall •nand and supplement der covenents and agreements of this Deed of Trust as if the rider
<br />wsre a pars heol.
<br />7• PsalatMem tta of Loaderem Secarky. if Borrower fails to perform the covenants and agreements contained in this
<br />Deed of Trull, or if any action or proeeding is commenced which malerimlly affects Lender's interest in the Property,
<br />mcludiam but not limited to, arminsnt domain, insolvency, code enforcement, or arrangements or proceedings involving a
<br />bf"" Of deeedeat, then Lender of Lenders option, upon notice to Borrower, may make such appearances. ilkhorse such
<br />sum and eke such action as is necessary to pprroeet Lender's interest, including, but not limited to, dishurwmenn of
<br />"OWN" Nlornay't left and entry upon the Ptoperlr to make repair If Leiter required mortgage Insurance as s
<br />of molting the ban secured by this Deed of Ttwf, Borrower shall pay the premiums required to maintain smash
<br />irgyranee to sheet until such lima as Ine require nenl for such insurance terminates in accordance week Borrower's and
<br />Lemder'a written apsemesn or applicable taw. Borrower $hall pay the amount of NI nwrrgage tmnrsoce plenums m she
<br />manner provided under pail• 2 hereof.
<br />Anyy •norms dobwmd by I -tWcr pursuant 10 this paragraph 7, with interest thereon shall betome additional
<br />indebsednea of Bwrower secured by this Most of Trust. Unless Borrower and 1 coder agree In other terms of payment, Nut h
<br />smoums MaB be pyaldm upon nice from Lender o Borrower requesting payment thereof, and shit I, I interest from the
<br />doe of dkbunemem at the rate payable from film 10 time on outstanding principal under the Note tireless payment tit inlere +t
<br />at such felt wood be contrary to applicable law, in which event gosh amounts shall hear unrest as the highest part
<br />P"nm d* tadmr •PPIfcabfe hut. Nothing contained in this paragraph 7 shall lom require Lender to Incur any expense of eke
<br />any sct hereunder.
<br />S- IrmyoHlom. Leader may make or cause to be mule reasonable r"t"es uptm and 11141c" "I's of the P "+redly prm"Ird
<br />+hat I under shall give BOrrowel notice prior In ANY Ilnfecleon specifying reasonable cause therefor, related at I cndcr .
<br />Into "I In robe Propensv.
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