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85- 044347
<br />'UNIFOntw CovaNANTS. Borrower and Lender covenant and agree as follows:
<br />1. Paytnem of Principal ad Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indehtedriess evidenced by the Note, preppayment and late charges as provided in the Note, and the principal of and interest
<br />Future Advances
<br />on an i secured by this Deed of Trust.
<br />PtuTis he Tom aM Inference. Subject to applicable law or to a written waiver by Lender, Borrower shall
<br />pay
<br />to Lender on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in P111.
<br />"Funds')
<br />a sum therein equal to one twelfth of the yearly Taxes and assessments which may all 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
<br />or accounts of which are insured or guaranteed by a Federal tar
<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 hills, Unless Lender pays Borrower interest on the Funds and applicable law
<br />hermits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Deed of Trost that interest on the Funds shall be paid to Borrower, and unless such agreement is
<br />made or applicable law
<br />requires such interest to be paid. Lender shall not be required io pay Borrower any interest or earnings on the Funds. I.cn&,r
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and Jehils to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />by thu 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 taxev.
<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 to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by I•endsr shall not be sullicient 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 defktency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon ymentun�fll of all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower any Funds
<br />held by patyg .ph 18 hereof the Property is sold or the Property is otherwise acquired by Lender. I.ender
<br />shall apply, no later than immediately prior to the sale of the Property or its acquisitibn by Lender. any Funds held by
<br />Lander at the time of application as a credit against the sums secured by this Deed of Trust.
<br />3. AppBeMlarl of- Paruenla. Unless applicable law provides otherwise• all received by fender
<br />payments under the
<br />Note and paragraphs 1 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 on the Note,
<br />payable then to The principal of the Note. and then to interest and
<br />principal on any Future Advances.
<br />4. ClsaswM; Was. Borrower shall pay all taxes. •assessments and other charges. fines and impositions auributable 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 />Masser provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due. directly
<br />to pa p p
<br />yes thereof. Borrower shall promptly furnish to Lendcr all notices of amounts due 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 shell promptly discharge 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 the payment of The obligation secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith contest such lien by. or defend enforcement of such lien tit.
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />f• !undid Inwomsee. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loft by fire, hazards included within the term •bstended coverage ". and such other hazards as Lender may regnire
<br />and tan such amounts and for such periods as Lender may require: provided. that Lender shall not ►e sire that the amount of
<br />such coverage exceed that amount of coverage
<br />required to pay the sums secured by this Deed of Tent
<br />The imurance carrier providing the insurance shall be chosen by Borrower subject To approval by Lender. provided.
<br />*u at" approval "I not be unreasonably withheld. All premiums on insurance policies shall he paid in the manner
<br />�r�uow paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />All imur, , policies and renewals Thereat shall be in form acceptable in 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 policies and rent »ate 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 Lender. Lender may make proof of loss it not made prsun ally
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />ohs Propeny 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 Decd Trust
<br />of would
<br />bit impaired. the insurance proceeds shall be applied to the sums secured by This Deed of Trust, with the eoccss. if any, pod
<br />to Borrower. If The Property is abandoned by Borrower, or if Borrower tads
<br />to refpsnd to Lender within 30 days from the
<br />dais notice is mailed by Leader to Borrower that the insurance carrier ollen to settle a claim for insurance benefits. I ender
<br />is authorized to collect and apply the insurance proceeds at Lenders option either to restoration or repair of the Property
<br />or so the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not eme"i
<br />or postpone the due dale of That monthly installments referred to in paragraphs I and 2 hereof of change the amoum of
<br />such nsullmeMS. If under paragraph 1 g hereof the Properly is by Lender,
<br />acquired all fight, title and interest of Borrower
<br />in and to any insurance policies and n and to the proceeds thereof resulting from damage to The Property
<br />prior to The vale
<br />or iu� shall peas to Lender to the taunt of The sums secured by this Deed of Trust immediately prior to such sale or
<br />Prseenades and MaMsenames of Proportyl Ltasth"I Cew•nninirrnt Planed Usk Devtiellsnstals. &,rtnwcr
<br />shall keep The Property in goat repair and shall not commit waste tar permit impairment or deteruaawin of the Property
<br />and shall comply with Ihs provisions of any lease if this Deed of Trust is on a Ieasehoid 11 thn Deed o► Trust n on a unit in a
<br />condominium or a planned unit development, Borrower shall perform all of Borrower 's obligations under the declaration
<br />Of etweaBsb creating or governing the condominium or planned unit development, the hy•►aws and regulations i,t Mc
<br />eondominiram► or Planned unit development. and consutuem documents, If a condominium or planned unit desclopmcm
<br />rider is execute! by Borrower and recorded Together Deed 1
<br />with this of rust, the covenants and agreements of such rider
<br />sW be incorporated into and shall amend and supplement The covenants and agreements of this Deed of Trust as if the rider
<br />were
<br />�PwlmtetlNm
<br />of'A*Ws fecerky. If Borrower fins to ptrlorm The covenants and agreements contained in this
<br />tMed
<br />gleam! d Trust, or if any action or proceeding is commenced which materially •Reels Lender's interest in
<br />the Property
<br />imdudimg, but not Wooled to, eminent domain, insolvency, code enforcement, or arrangementi, or proceedings involving i
<br />bankrupt or deaOem o, than Lender at Leader's option, upon notice to Borrower, may make such appeatincts, dithurse
<br />vueb
<br />sums and lake such action u is nsNalary to protect Lenders interest, including. but not limited to, disbursement 0
<br />reasonable olorllay's sofa and entry upon The Property
<br />to make repairs If Leader required mortgage insurance as a
<br />condition of making the ban secured by this Deed of Trust. Borrower shall
<br />pay the premiums required to mainlain such
<br />ifluuesce in Meet until Such Tiftte as the requirement for such insurance Terminates in accordance with Borrowers Jud
<br />Leader's written spatmetN or applicable law. Borrower shall pay the amount of all nongage
<br />insuranct prcnuunis it the
<br />manner provlded under perTaph 2 hereof.
<br />Any amounts disbufed by Lender pursuant to this parsjfaph 7, with interest thereon, shall hecomt addition it
<br />indebtedness of Borrower secured by this Deed of Trust. Unless Casket and Lender agree to other ie(ms of
<br />s;s
<br />paynitni such
<br />amounts shall he payable upon noli►e from fender to Borrower rcyutstng payment thereof, and shall bear 1111erest 11,1111 the
<br />dale of diabunement at The rate payable from time to time on outstanding principal under the Note lndtss payment of
<br />uuerest
<br />N such rest would be contrary to applicable law, in which event such amounts shall hear interest it the hightst tale
<br />permitsible under applicable law. Nothing contained in this paragraph 7 shall require Lender to
<br />t-
<br />any action hereunder. incur any expense or take
<br />L ksspetsktns, Lender may make or cause to he made reasunablt eiiirits Upon and intpti bons of the Property jv, , tiled
<br />that Linder shall give Borrower notice prior To an) such 1nsp9c11un sped! 1116 rtasonable cause thercf,1r relaled 1st 1 sudci .
<br />nttrmmt in the Proartir
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