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85-- Q02707
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />t• rsytuatst et MAC .
<br />>r tAtet+at. Borrower shall promptly Pay when due the principal of and interest on the
<br />iA"it'dncu evidenced by the Note. prepayment and late charges as prov►deel in the Note. and the principal of and interest
<br />on an Future Advances secured by this Deed of Trust. rest
<br />B� � TUO mW lissmww*. Subject to applicable law or t ry
<br />fr- to Lei ;r on the day monthly installments of principal and interest are o " written waiver Note, Lender,
<br />Y Borrower shall (pay
<br />a sum (herein "Funds") (qua! to thePropert of the yearly taxes andaasscssmea lstwhih may tatainNpriorityaover the
<br />Deed of Trust. and ground rents on the Property, if an
<br />a plus ore- twelfth of earl Y. plus one twelfth of yearly premium installments for hazard insurance.
<br />yearly premium installments for mortgage insurance. if any, all as reasonably estimated initially and Irom
<br />time to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />'rhe Funds shall be held in an institution the deposits or accounts of sate agency (including Lender if Lender is such an institution). Lender shall rapply he Funds tto guaranteed
<br />de taxes, asse sments.
<br />insurance premiums and ground tents. Lender may not charge for so holding and applying the Funds, analyzing said account
<br />of verifying and compiling said assessments and hills, unless Lender pays Borrower interest on the Funds and applicable law
<br />Qermits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of
<br />Deed of Trust that interest on the Funds shalt be paid to Borrower, an this
<br />requires such interest to be paid. Lender shall not be required to r unless such agreement or earnings is mark or Funds, Lender
<br />law
<br />shall give to Borrower, without charge, an annual accounting of the Funds show ng edits and debit-. to the Funds and der
<br />pttrpoae for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured the
<br />by this Deeds of Trust.
<br />If the amount of the Funds held by Lender, together with the futr►re monthly installments of Funds payable prior to
<br />the due dates of, assessments, insurance premiums and ground rents, shall exceed the amount required to a said tar
<br />assessments, insurance premiums and ground rents as they fall due, such excess shalt be, at Borrower's opytiun, either
<br />ply repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />""" °y Lender shall not be sufficient to pay taxes, assessments, insurance premiums and rot. nd rents as theue.
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days the date notice is fall sled
<br />by t.sadsr 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. It under paragraph 18 hereof the Prorty is sold or the Property is otherwise acquired by Lender. lender
<br />shall apply. no later than immediately prior to the sr a of the Property or its acquisitibn by Lender, any Funds held by
<br />Lender
<br />3. at the time of apPlication as a credit against the sums secured by this Deed of Trust.
<br />Note and ppfgenden A% _pep"Ol . Unless applicable law provides otherwise. all Lender under the
<br />Paragraphs I and 2 hereof shall be applied by Lender first in payment of Payments
<br />to payable dto Lenderr h Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note. then t•i the principal of the Note, and y
<br />tMirei� on any Future Advances, then to interest and
<br />The 1!ropertC h attain a Priority pover IthisxDeed of Trust and I Other e ch g smentss or d rm
<br />rt1a FrO provided under pos►tents a f any, in too
<br />Paragraph 2 hereof or, if not paid in such manner, b Borrower making round rents, if any, in the
<br />to thepa yet thereof. Borrower shall promptly furnish to (_ender all notices of amounts due under this epaagaph, and in the
<br />event Brower shall make payment directly. Borrower shall promptly furnish to Lender receipts eviden
<br />Borrower shall promptly discharge any lien which has priority over this Decd of Trust: provided, that Borrower shall nut he
<br />� ding such payments.
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation soured by
<br />such Ilen in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in.
<br />legalfroceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or an
<br />'• Nssuri lASdintsee. norrower shall keep the improvements now existing or hereafter erected on the part thereof.
<br />against ens by Are. hazards included within the term "extended coverage". and such other hazards as Lender may ins require
<br />and let such amounts and for such q a Property snarled
<br />such coverage exceed that amount of coverage requiredyto pay they um &secured by h►shDeed oof eTr or that the amount
<br />The insurance carrier providing the insurance shalt be chosen by Borrower subject to approval by Lender: provided.
<br />dial such spp al shall not be unreasonably withheld. All premiums on insurance policies shall he
<br />Insurance CWrW. r pangraph 2 hereof or, if not id in such manner, h Borrower making paid in the manner
<br />y g payment, when due. directly to the
<br />All insurance policies and renewals thereof 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 to hold the
<br />and Borrower Mall promptly furnish to [.ender all renewal notices and all receipts of premiums. policies and renewals thereof.
<br />Borrower shall give prompt notice to the insurance earlier and Linder. Lender may make prof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair o►f
<br />the Property damaged, provided such restoration or repair is economically feasible and the security of this Deed of Trust is
<br />not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Deed of Trust would
<br />be impaired• the insurance proceeds shall be applied to the sums secured by this faked of Trust. with the excess. of any. part
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from he
<br />date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits. Lender
<br />is authorized to collect and apply tree 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 Lender and Borrower otherwise agree in writing, any such Application
<br />or postpone the due date of the monthly installments referred to in argraph$ I andr°cee hereof to principal shall not txtend
<br />such installments. if under paragraph t 8 hereof the Property is acquired by ( ender• all right tiitle a change i ee the amount of
<br />in and to any insurance policies a in and to the proceeds thereof resulting from damage to the Property prior of the sale
<br />or
<br />„pion shall Per to Lender to the extent of the sums secured by this Deed of Trust Immediately prior to the sale
<br />� ��,� M/ Y Prior to such sale or
<br />MaiNORWe of Property; Leraeholds• Coado
<br />shalt keep the Property to good repair and shall not 4 ionima waste or A>; it im famcnid Or do DevelopAof Itic Borrower
<br />and shall comply with the provisions of any lease if this Deed of Trust is on a.leasehold ivIftthis Deed of Trustdis on a unit in a
<br />condominium or a planned unit development. Borrower shall perform all of Borrower's obligations under the declaraton
<br />w covenants creating or governing the condominium or planned unit development, the by -laws and regulations tit the
<br />condominium tit ploaned strut ad recorded and constituent documents. If a condominium or planned unu development
<br />rider it executed by Borrower arW reeorded together with this Deed of Trust, the covenants and agreements of such rider
<br />werea:!tall be incorporated into and shall Amend and supplement the covenants and agreements of this teed of Trust as if the rider
<br />pert Wrwf.
<br />of Leek es Secterity. If Borrower faits to perform the covenants and agreements contained In this
<br />i,lew of Trust, or if any solar or proceeding is commenced which materially affects Lendcr's interest in the Proper.
<br />iACludW . brill not limited to, eminent domain, insolvency, code enlorccmenl, der arrangements car protcedings involving r
<br />bankrupt t, then Lender at Lender's option, upon notlee to Borrower, mar make such a
<br />suien and Nee such action u is necessary to protect Lender's interest, includrr, trot not lima to c d +s�Jrl,ert,ent i
<br />reasonable attorney's tip and entry upon the Proper( to male repairs If Lender d. °MAUL i Of Rwkinf the loan secured b this Deed of Trust. Borrower shall required mortgage insurance as a
<br />inawanee in affect until such tine as the requirement for such insurance term pay Premiums a�cOrda tee ►weathtoB,r rrowrr a ,d e.1
<br />L'sisid is written agreement or applicable law. Borrower shall
<br />manner Mm's under pets sph 2 hereof. �Y the amount ®I All mortgage insurance preni,une% „a rho,
<br />Any amounts disbiwasil by Lender pursuant to this gg
<br />i edness of BdarO*w secured by his of trust. I)nlessraBorroows and I ender eagree to oilterlgel het Pa ant, a loth
<br />Amounts •hall he payable upon notate from Lender to Borrower rcVucstrng payment ihereol .,red %hall facer of
<br />nt`rest traii,i ie
<br />!� nt At the rate payable from time tea trine stn outwandin Yn'tnr ®ooh
<br />ago"M h rase r be contrary to applicable law. in which event dish amount% %hail! the o ►tare fe%, payment e highe%ti` rate
<br />1L applicable Ian !Nothing contained in this paragraph 7 ►hall require Lender to> incur any a %pence or take
<br />thai LeJssi •vl..endvr °fay make or Cause to be made reasonable c :,tree% u
<br />gi a Borrower notice prior to any such ins Po+� an.l =n %leeci,oin% of the Property tyr,., "t`ol
<br />,esform
<br />on she p v pesUor, %Pecsfying rea,oanatele `ease thereto >► related sir t o,�<t`r
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