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UNIFORM COVENANTS. Borrower and Lender covenant 85- 001838
<br />and agree as follows;
<br />'I- payment of Principal and Interest. Borrower shall promptly
<br />indebtedness evidenced by P P Y
<br />pay when due the principal of and interest on rile
<br />the Note, prepayment and late charges as provided in the Note, and the principal rk and interest
<br />on any Future Advances secured by this Deed of Trust.
<br />2. Funds for
<br />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,
<br />a sum (herein "Funds ") equal to one - twelfth
<br />until the Note is paid in full,
<br />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
<br />time to time by Lender on the basis of assessments
<br />and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured
<br />slate agency (including Lender if Lender is
<br />or guaranteed by a Federal or
<br />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
<br />or verifying and compiling said assessments
<br />the Funds, analyzing account
<br />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 in
<br />Deed of Trust that interest
<br />writing at the time of execution
<br />on the Funds shall be paid to Borrower, and unless such agreement is
<br />f this
<br />requires such interest to he paid, Lender shall
<br />made or applicable law
<br />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
<br />Purpose for which each debit to the Funds
<br />credits and debits to the Funds and the
<br />was made. The Funds a
<br />by this Deed of Trust. re pledged as additional security for
<br />the sums secured
<br />If the amount of the Funds held by Lender, together with the future monthly
<br />the due dates of taxes, assessments,
<br />installments of Funds payable prior to
<br />insurance premiums and ground rents, shall exceed the amount required to t said taxes.
<br />assessments, insurance premiums and ground rents as they fall due, such excess
<br />promptly repaid to Borrower
<br />shall he, at Borrower's option, either
<br />or credited to Borrower on monthly installments of Funds. (f the amount option Funds
<br />hell w Lender shall not he sutiicient to pay taxes, assessments, insurance
<br />Borrower shat[ to I
<br />pay premiums and ground rents as they fall due.
<br />-ender any amount necessary to make LIP the deficiency within
<br />by Lender to Borrower requesting payment thereof. 30 days from the date notice is mailed
<br />held byyL ender. Ifttinderpa paragraph 18 secured by
<br />he this
<br />shall apply, no later than immediately the Props ty �r�t refund to
<br />sly bye an), Funds
<br />ed ender
<br />prior to the sale of the Property or its acquisition by Lender. any Funds held by
<br />as
<br />Lender at the time of application as a credit against the %rims secured by this Deed
<br />3. Non of Pay2
<br />of Trust. received
<br />I parag
<br />Note and era ra hs 1 and 2 hereof shall he applicable li debyaI enderllira all
<br />under paragraph 2 hereof, then spayable
<br />amount, tobl enderr by Borrower
<br />Principal on any Future Advances.
<br />to interest payable on the Note, ihcn to the principal of the Note, and then to interest
<br />Charges:
<br />the Property hich may Borrower shall and
<br />prioritypover lthtis%Decol assessment, ind
<br />and Icasehol I payments ortcgroandslrentts, Al anusabllet to
<br />manner provided under paragraph 2 hereof or, if not pail in such manner, by Borrower Payments
<br />to the payee thereof. Borrower shall promptly furnish
<br />event Burrower shall make payment directly, Borrower shall promptly fur
<br />to Lender all notices of amounts due under this paragraph, and in the
<br />Borrower shall promptly discharge uecunde this ar r ph, a directly
<br />to Lender
<br />any lien which has priority over this Ihed of Trust: provided, that Borrower shall
<br />required to discharge any such lien so long as Borrower shall agree in . Borrower all
<br />such lien in a manner be
<br />not
<br />writing to the payment the secured by
<br />acceptable to Lender, or shall in good faith contest such Len by, or defend enforcement
<br />legal pr sc dings which operate to prevent the
<br />of such lien in.
<br />enforcement of the lien or forfeiture of the Property or any part thereof.
<br />S azard Insurance. Borrower shall keep the improvements now existing or hereafter erected
<br />against Toss by fire• hazards included within the "extended
<br />term on the Property insured
<br />coverage ". and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may regwre; nrov,deJ, that Lender shall
<br />such coverage exceed that amount of coverage en
<br />not require that the amount of
<br />required to pay the sums soured this Deed of Trust.
<br />The insurance carrier providing the insurance shall he chosen by Borrower
<br />that such approval shall not he
<br />subject to approval by Lender; provided,
<br />unreasonably withheld. All premiwns on insurance policies shall l he paid in the manner
<br />provided order paragraph 2 hereof or, if' not paid in such manner, by Burrower making
<br />insurance carrier.
<br />payment, when due. Directly to the
<br />All insurance policies and renewals thereof shall he in form acceptable to
<br />clause in favor of and in form [,ender
<br />and shall include a standard mortgage
<br />s ave
<br />acceptable to Lender. Lender hall h the right to hold the policies and renewals thereof.
<br />Borrower shallsgive promptln
<br />by Borrower. P paid premiums. In the event of loss.
<br />tlicerto fhelin insurance arill�I coder. Lender lm,rke proof i Inns
<br />Unless
<br />If not made promptly
<br />Lender and Borrower otherwise agree in writing, insurance Proceeds shall be- applied u, restoration
<br />the Properly damaged, provided such restoration or re
<br />not thereby
<br />or repair of
<br />Pair is economically leasible and the security of tills Deed of Trust is
<br />impaired. If such restoration or repair is not economically feasible or
<br />he impaired, the insurance
<br />II the security of this Deed of Trust would
<br />proceeds shall be applied to the sums secured by this Deed of Trust,
<br />to Borrower. If the Property is abandoned by
<br />with the excess, if any. pail)
<br />Borrower, or if Borrower fads ro respond to [.ender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier offers to setae n claim for insurance
<br />is authorized to collect and apply the insurance
<br />benefits, Lender
<br />or to the sums secured by this Deed of Trust.
<br />proceeds at Lenders option either to restoration or repair of rile .render
<br />Unless Lender and Borrower
<br />otherwise agree in writing, :In) such application of proceeds to principal shall not exienJ
<br />or postpone the due date of the monthly installments referred to In Paragraphs 1 and 2 hereof
<br />such installments. If under paragraph 18 hereof
<br />or change the amount of
<br />the Property is acquired by Lender, all right, rule and Interest of Borrower
<br />lit and to any insurance policies and in and to the Proceeds thereof resulting from damage
<br />acquisition shall pass to Lender io
<br />ac
<br />acquisition. the deicer of the sums secured by this Iced et I rust In,mediateh prior tin such held le
<br />to the Properl} poor to the sale
<br />6. Preservation and Mfdalenance
<br />of Property; Leavrhol(is; Condominiums: Planned Unit Developments. Borrower
<br />shall keen the Property tit goof repair and shall not conutul waste ..r pcn,tu m,paurnent
<br />and shall comply with the provisions
<br />or dctcriortl,a, of rile Properly
<br />of any !case if this Deed of l Ills[ Is on a leasehold It this Ili,, J of 'Trust Is on
<br />condominium or a planned unit development. Borrower shall
<br />or covenants creating
<br />a amt rn a
<br />or governing the n,nJom,mun, r perform elf of Iorrowers obhgauon, ender file declarihon
<br />condominium or planned unit develops, and conshtuen lid,
<br />Je,elopment. the hcJaws and regulations
<br />rider is executed by
<br />ci�rtdrtts
<br />Borrower and recorded together with this Da:ed of 1 rust, the riloveminuti� anJlagrcememsl<deNclohpincti It
<br />Shall he incorporated into and shall amend co covenants
<br />were a fart hereof. rider
<br />and supplement the covenants and agree M tills [dal of Trust or i the rider
<br />Protection of Leader's Security,
<br />Deed7.
<br />If Borrower falls to perform the covenants and agreement, cantnrn,'d in this
<br />Deed of 'f'rust, or if any action or proceeding is commenced which materially ;dPeets I enJer's
<br />but not limited to, eminent domain, insolvency,
<br />vets Indnh
<br />interest in the Pro
<br />coils, entorcen,,o, or a ; P :+ ceding% Invoising I
<br />sums and or decedent, then Lender at 1_ender's option. Upon notice to Borrower, Ina)' make
<br />sums and Take such action as is necessary appearance%.
<br />%rich
<br />it) protect LenJer'% uuelesf, Inclndr❑ I, (itsbursd ich
<br />reasonable attorney's fees and entry upon the Property Io nuke repairs II LenJer rdywrcd
<br />[ tit not limned to, it
<br />condition of making the loan secured by this Deed
<br />of
<br />'1 "nest.
<br />of -1
<br />na t i ,c imur:u,rd as a
<br />Borrower shall pay she prenmrrns required Ill n,a,nlaln such
<br />cadet's in effect until such time as the requirement for such insurance let I'
<br />g%`rh
<br />.sneer's written agreement or rapplicahlc. law
<br />Borrower shall m ucc,+rlhor,ce Borrower's ,rid
<br />manner provided under paragraph 2 hereof. Pav the ameunl of rill met ,: lee
<br />Insurance preol,oro, m the
<br />Any amounts disbursed h i
<br />indebtedness of y Lunddr nUrsllnnt hr this naragrn Ph 7, "Ill, Inter,,
<br />Borrower secured by 1 t)ceJ
<br />11% Iheri_o h:Il I
<br />amounts shall he home addluou.d
<br />sit Irusl I rile,% Borrower ,fill I code) 1`lee 10
<br />payable upon notice front Lcudel
<br />I
<br />„fuel Iertll% f ,,
<br />date of disbnuse to Borrower re I il%mellf, such
<br />went at the rate, payable from iime to firm l n ins quest g Pa%ownt e-11.
<br />of rate would he l u nuerr%t tram Ill"
<br />d
<br />miss g n1Ic Via <%Il�nlcs,
<br />contrary der "Pill"( able Inw, in wb ch reel f ,itch ,Unuunt, .hill Pau
<br />ll of I
<br />erect applicable law. Nofhin i of mgt of intrrlle
<br />g curd
<br />Any Action uurmst ..t rte
<br />eny a+:nort hrrdundcr.
<br />rood m tills P, regret h ' shell Ire a rr 1 lndcr In
<br />t rote
<br />M. !
<br />1 nl.ar env oxpsnsl of take
<br />flog, 1 d ell may make ..r ruuu r f e n,adl rl ism d Io rnf nr.
<br />Ihaf Ismfrr shall give Bun ewer
<br />W;
<br />�I
<br />p
<br />nnUCe pool fo en nJ m,l>cclr„n, ni !P
<br />ntc rest Iii the Promrfy Y '.nl'h 11+, IN�i. 1�„It +IN I Ill "�11 r 1 I �'.I.,, u, Pttlpyffy. pl o\ Id,•d
<br />I` ... ,:1II'.c' 1P)l•!r'lo,
<br />;,'Pe(ed I,- I Illtl't ,
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