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UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 85-' 001809
<br />-1• Payment of Principal and Interest.
<br />Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note,
<br />on any Future Advances secured by
<br />this Decd of Trust. and the principal of and interest
<br />2. Fulda for Ta>ca and Insurance. Subject to applicable law
<br />to Lender
<br />or to a written waiver by Lender, Borrower shall pay
<br />on the day monthly installments of principal and interest are payable under the Note,
<br />all
<br />a sum (herein "Funds ") equal
<br />until the Note is paid full,
<br />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
<br />Plus one - twelfth of
<br />yearly premium installments for hazard insurance.
<br />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
<br />The Funds shall be
<br />thereof.
<br />held in an institution the deposits or accounts of which are insured or guaranteed by a Federal
<br />state agency (including Lender if Lender is such an institution).
<br />insurance
<br />or
<br />Lender shall apply the Funds to pay said taxes, assessments.
<br />premiums and ground rents. Lender may not charge for so holding
<br />or verifying and compiling said assessments g and the Funds, analyzing
<br />bills,
<br />and said account
<br />unless Lender pays Borrower interest on the Funds and applicable law
<br />Permits Lender at snake such a charge. Borrower and Lender may agree in writing
<br />Deed Trust that interest
<br />at the time of execution of this
<br />es
<br />on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not be required
<br />to pay Borrower ;Inv interest or earning:: on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds
<br />Purpose for which each debit to the Funds was
<br />by this Deed of Trust. and the
<br />made. The Funds are pledged as additional security for the sums
<br />secured
<br />If the amount of the Funds held by Lender, together with the future monthly installments
<br />the due dates of taxes, assessments, insurance Funds
<br />of payable
<br />premiums and ground rents. shall exceed the amount required to pay said taxes.
<br />assessments, insurance premiums and ground rents as t ;ley fall due, such excess shall be,
<br />Promptly repaid to Borrower optionPreither
<br />at Borrower
<br />or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall not he sufficient to pay taxes,
<br />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
<br />by Lender to Borrower requesting
<br />payment thereof. the date notice is mailed
<br />full of
<br />secure(] by this
<br />held bypLe der.
<br />ill Prop CrtYistsoldror the Propertly is
<br />shall apply, no later
<br />otherwise acquired y lender.yl ender
<br />than Immediately prior to the sale of the P
<br />Lender at the time as a credit against the sums
<br />ti me of applicati roperty or its acquisition ny Lender, any Funds held by
<br />secured by this Deed of Trust.
<br />3. Application of Payments. Unless applicable law provides otherwise. all payments received by Lender
<br />Note and paragraphs I and 2 hereof shall he
<br />under the
<br />applied ny 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
<br />principal on any Future Advances.
<br />principal of the Note, and then to interest and
<br />4. Charges; Liens, Borrower shall pay ail tase,
<br />. assessments and other charges. fines and impositions atiributanle n;
<br />the Property which may attain a priority' over this Deed of Trust, and leasehold payments or ground rents. if any, in
<br />manner provided under paragraph 2 hereof or, if not ents o
<br />in
<br />pail such manner. by Borrower the
<br />to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts
<br />making payment, when due, directly
<br />event Borrower shall
<br />due under this paragraph, and in the
<br />make payment directly, Borrower shall promptly furnish to Lender receipts
<br />Borrower shall promptly discharge
<br />evidencing such payments.
<br />any lien which has priority over this Deed of Trust; provided, that Borrower shall not he
<br />required to discharge any such hen so long as Borrower shall agree in writing to
<br />such lien in a manner
<br />the payment of the obligation secured by
<br />acceptable to Lender, or shall in good faith contest such lien hy, or defend enforcement of such hen in.
<br />legal Proceedings which operate to prevent the enforcement
<br />of the lien or forfeiture of the Property or any part thereof.
<br />a• 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 "extended
<br />coverage'•, and such other hazards as l.cnder may require
<br />and in such amounts and for such periods as Lender may require; provided, that Lender
<br />such coverage exceed
<br />shall not require that the amount nl
<br />that amount of coverage required to pay the suns secured by this Deed of Trust.
<br />The insurance carrier providing the insurance shall he
<br />chosen by Borrower subject to approval by
<br />'hat such approval shall not he unreasonably withheld. All premiums on insurance policies shall he Lender: Provided.
<br />Lender:
<br />provided under paragraph 2 hereof or, if not paid in such in the manner
<br />insurance carrier. manner, by Borrower making payment, when due, directly to the
<br />All insurance policies and renewals thereof
<br />shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lender shall have the right
<br />and Borrower shall hold
<br />to The policies and renewals thereof.
<br />promptly furnish to Lender all renewal noti receipts and all recei is of pail premiums. In the event
<br />Borrower shall give prompt notice to the insurance carrier
<br />by
<br />BOPPOWef. of loss.
<br />: nd Lender. Lender may make proof of loss if not made promptly
<br />Unless Fender and Borrower otherwise
<br />agree in writing• insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair- is economically feasible and the security of this Dc
<br />not thereby impaired. If such restoration or repair is
<br />^d of Trust is
<br />not economically rity n( this Deed of "Trust feasible or If the secu would
<br />he impaired, the insurance proceeds shall be applied to the sums securey this Deed of Trust, with
<br />d b
<br />to Borrower. If the Property is abandoned by Borrower,
<br />the excess, If an
<br />or if Borrower fads to responJ to Lender within 30 days from tiff
<br />date notice is mailed by Lender to Borrower that the insurance carrier ofIail To settle n days
<br />is authorized to collect
<br />it claim for insurance h s, Lcndcr
<br />and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or to the sums secured by this Deed of Trust.
<br />Unless
<br />Lender and Borrower otherwise agree in
<br />writing, any such application of proceeds to principal shall not extend
<br />paragraphs cndI and
<br />such iinsttaallme tts. If under partagraph I monthly hereolfrthettPropertyru la
<br />R P _hereof or change
<br />r c
<br />acquired the amount of
<br />right, tide
<br />in and to any insurance policies and in and to the proceeds thereof resuUing from damage to the Property or acquisition shall pass to Lender to the extent
<br />interest of Borrower
<br />fro
<br />of the sums secured by thin
<br />acquisition. a } prior to the sale
<br />le
<br />of Trust immediately
<br />prior to such sale
<br />6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Ilnh Developments. Borrower
<br />shall keep the Property ill good repair and shall nil
<br />contnul waste tut pernarl 111TAfrrnent or deterloranon of The Property
<br />and shall comply with the provisions of any lease if this Deed of Trust is on it leasehold. If this Deed
<br />condominium or a pianos) unit development, Borrower '('rust
<br />of i on a unit in a
<br />shall perhmn all n; Borrower's obligations under the declaration
<br />or covenants creating or governing the condominium or planned out Develop row the by -laws
<br />dec
<br />or planned unit Development,
<br />eider
<br />and rcguile
<br />I%xecu of the
<br />and fonshhrenl documents. It' a condominium or planned unit Jevclupment
<br />rider is executed by Borrower and recorded together wnh this Deed (It 1 rust, the covenants and agrfenrenls
<br />shall he incorporated into and shall amend and supplement
<br />were a part hereof. Ill wch rifer
<br />The covenants and agreements of this Dced al Trust as if the rider
<br />T• Protection of I- coders Security, If
<br />Borrower I';uls to perform the covenants and agreements contained in this
<br />F?eetf of Trust, or if any action or proceeding is commenced which malenally alfects Lender's
<br />including, but not limited to, eminent domain,
<br />interest nu the Pro petty,
<br />insolvenc }, code enforcement. or arrangements or proceeding. involving a
<br />bankrupt or decedent, then tender at Lender's option, upon notice to Borrower,
<br />surns and take such
<br />may make rich a
<br />reasonable attorney's fees and entry upon the Prulxrty to make repairs If Lender rfyor 11 nleu'tgagecinsurane•c``
<br />action as is necessary to princct Lender's interest, including, but nor Innucd to, disbur'sei „eut of
<br />condition of making the loan secure) hy this Deed "trust,
<br />of. Isicb
<br />Borrower shall pay the prein,uns required to mainlam sucl, as I F ender'seWritten agreement
<br />icrnDltlaICS
<br />�itillorrorw 'cr cpap
<br />ortapplicablee law shall
<br />manner provided under paregaph 2 hereof. cr's .and
<br />fileartc
<br />InrtgagedAnCeat With pBorrow m (he
<br />Any amounts disbursal
<br />by 1 ender pursuant n, Ihis paragraph with nnefesl thelem, • h
<br />indchtedness of Borrower secured by this Decal ,,; I rust I nless Borrower and I ender
<br />ill adJrnnmll
<br />amounts shall be payable tyrtxr
<br />t q
<br />p
<br />% of Inc
<br />ogres to other tarn! of ,;
<br />f u)mau. ouch
<br />notice front I coda to Borrower requesting pmFilem thereof, and 0 all hear Interest
<br />elate of dishufsemenl at the rote: payal,le. from store to tinlf
<br />I
<br />Flom the
<br />on oulstantting principal under life Note Unless ,u •mum n
<br />at such rate would be confnry To apphcablf law. Iif which event suite ann,unt'• I ) I interest
<br />Permissible tinder applicable law. Nulhht he'll
<br />p
<br />{ 3
<br />g
<br />g ,, shall ,Itflesi It :tic highest ruv
<br />any action hereunder,
<br />nl:nncd m rho pura8rry >h �' sh.11l nv uric I.cnder io
<br />A 1 I ncur any rxlxnsc or roof
<br />tFnn. fflldfr
<br />rv.F
<br />to
<br />r1Da)' flDYlkf it !•1115, It., ht rtladf Ir'a 4t rl l:lblc t'Iltllet Il,r ,rl ,rlll Illw >.•t'Irt,
<br />I itlf.PI a In the Pro 1 Ili t.•1 Ili,• PI „I,I•I It I „„t I, I••r1
<br />Ifilt al in P e Pr vet Botrowft null t• pout I an) •w.h In•,peclnrn ,.t�.; 1151nti u•avv,al,lr'
<br />nertV.
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