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--� 0049 �,7
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. payment of Privacipel and interest. Borrower ,hail promptly pay when due the principal of and interest on the
<br />Indebtedness evidenced by the Note, prepayment and late charges as provided to the Note, and the principal of and interest
<br />on any,. Future Advances secured by this Deed of Trust.
<br />by Lender, Borrower shall
<br />2. Fwis for Tatar and 6wrsace. Subject to applicable law or to a written waiver pay
<br />to Lender on the day monthly installments of principal and interest are payable under the Note, until the Note is paid In full.
<br />a sum (herein "Funds ") equal 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 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 Isom
<br />time to time by Lender on the basis of assessments and bilk and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency fincluding Lender if Lender is such an institution). Lender %hall 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 />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Deed of Trust that interest on the Funds shall be paid to Borrower. and unless such agreement is made or applicable fan
<br />requires such interest to he paid. Lender shall 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 credits and debits 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 this Deed of Trust.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior io
<br />the dine dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes.
<br />assessments, insurance premiums and ground rents as they tall due, such excess shall lie, at Borrowers 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 ixrader shall not be sufficient 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 deficiency within 30 days from the date notice is mailed
<br />by Lender 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. If under paragraph IB hereof the Property is sold or the Property is otherwise acquired by Lender. Lender
<br />Lender. Funds hold by
<br />shall apply, no later than immediately prior to the sate of the Property or its acquis,tibn by Any
<br />Lender at the time of application as a credit against the sums secured by this Deed of Trust.
<br />3. Apllicadvant of TayatetAL Unless applicable law provides otherwise. all payments received by lender 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 />raider paragraph 2 hereof. then to interest payable on the Note, then v, the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. CYwgw Clem. Borrower shall pay all taxes. assessments and other charges. fines and impositions attributable n,
<br />the Property which may attain a priority over this Deed of Trust. and leasehold payments or ground rents, if any, in the
<br />manner provided under paragraph 2 hereof or, if not paid in such manner. by Borrower making payment, when due. directly
<br />to the payee thereof. Borrower shall promptly furrush u, Lender all notices cif amounts due under this paragraph, and in the
<br />furor +h to Lender receipts evidencing such payments.
<br />event Borrower shall make payment directly, Borrower shall promptly
<br />Borrower shall promptly discharge any lien which has prmri!y over this Decd of Trust; provided. that Borrower shall not he
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien to a manner acceptable to tender. or shall to good laith contest such lien by. or defend enforcement of such lien ,n.
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property of any part thereof
<br />S. H 6wsrance. Borrower shall keep the improvements now, eusung or hereafter erected on the Property insured
<br />against loss by fire. hazards included within the term "extended coverage' and such other hazards as Lender may requuc
<br />and in such amounts and for such periods as Lender may require: provided. that I -ender shall not require that the amount of
<br />such coverage exceed that amount of coverage iequtred to par the sums secured by this Deed of Trust.
<br />The insurance carrier providing the insurance shall he chosen by Borrower subject to approval b% Lcndcr. presided.
<br />that such approval shall not be unreasonably withheld. All premiums on insurance policies shall he ,raid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renewals thereof shall he to form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form acccptable to Lender Lender shall have the right to hold the policies and renewal, thereof.
<br />and Borrower shall promptly furnish to Lender all renewal noh,c, and all receipts of paid prermums. In the event of loss.
<br />Borrower shall give prompt notice to the insurance carrier and Lender lender may make proof of loss tt not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise 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 Deed of Trust t,
<br />not thereby impaired. If such restoration or repair is not economically feasible or if the %ccurmty of this Decd of Trust would
<br />be impaired, the insurance proceeds shall be applied to the sums secured by this Deed of Trust, wash the excess. If any. paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower facts to respond to Lender within 30 day, from the
<br />date notice is mailed by Lender to Borrower that the insurance currier olfers lit settle a claim for insurance benefits. I colder
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair or the Propery
<br />or to the sums secured by this Deed of 'Trust.
<br />Unless Lender and Borrower otherwise agree to wring, any such application of proceeds to principal shall not Cxte11J
<br />or postpone the due date of the monthly installments referred to to paragraphs f and 2 hereof or change the amount rat
<br />stash installments. If under paragraph IS hereof the Property is acquired by Lcnder, all right, tide and interest of Borro wcr
<br />in and to any insurance policies and in and to the proceeds thereof resulting front damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the extent of the sums secured by this Deed of Trust Immediately prior to such sale or
<br />acquisition.
<br />f. Prasetvtljen and Makesenance of Property; Leaseholds; Condomiairons; Planned Unit DevttepnseMS. Borrower
<br />,hall keep the Property in good repair and %hail not commit write' er permit impaumcnt or deterioration of the Property
<br />and shall comply with the provisions of any lease if this feed of Trust is on a leasehold If this Deed of Trust is on a unit in a
<br />condominium or a planned unit development. Burrower shall perform Al of Borrowers obligations under the dedaralim
<br />or covenants creating or governing the condominium tar planned unit development, the by -laws and regulation% et the
<br />condominium or planned unit development. and constituent document,. If a condominium or planned unit development
<br />rider is executed by Borrower and recorded together with !his Deed of 1 rust, the covenants and agreerlienis of such rider
<br />shall be incorporated into and $hail amend and supplement the covenant, and agreements of ih❑ Deed et Trust is if the ndcr
<br />were a part hereof.
<br />7. Pwteetloa of Lender's Sectuity. If Borrower fads to perform the covenants and agreements contained in this
<br />Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest to the Property.
<br />including, but not limited to, eminent domain, insolvency. code enforcement, or arrangements or proceedings rr.col%ing a
<br />bankrupt or decadent, then Lender at Lender's option, upon notice to Borrower, may make such appearances, dtshune such
<br />sums and take such action as is necessary to protect Lender's interest, Including, but not limited to, disbursement el
<br />reasonable attorney's fees and entry upon the Property to make repairs If Lcndcr required mortgage msurince a, a
<br />condition of making the ban secured by this flied of Trust, Borrower shall pay the prenuums required to maintain weh
<br />msutsnce in effect until such time as the requirement for such insurance terminates in accordance with Bunowcf+ .end
<br />Ltoder's written agreement or applicable law Boriuwer shall pay the amount of all mortgage inwran.c prenituni% it the
<br />manner provided under paragraph '_ hercof-
<br />Any amounts disbursed by I ender pursuant to this paragraph 7, wash interest thovon ,hail hevrntC addn anal
<br />'
<br />indebtedness of Borrower secured by this Deed of frusi t'nlcss .orri)wcr and I ender igree u, other terms of payment, sus Y,
<br />.am nls shail he payable upon notcc from Lcnder to Borrower requesting payment thereof. and shalt hear nt!ciev tn. -,m the
<br />the Nate to cs% payment of cntcre,i
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<br />data of disbursement at tilt rate payable from time io time on outstanding pnnopil under
<br />at viols rate would be contrary to applicable law. in •wh,.h event such amounts shalt hear , acre,: it the highest rate
<br />A�`1gf
<br />permissible umber applicable law Nothing contained in this paragraph 7 ,hall require Lender to n,ur any expense or take
<br />tpq
<br />any ac«tm hereunder
<br />tLy.
<br />S. les ectlae. Lender may make tar auw w he made reasonable chines •poll ,nil :name, i.on% of the &0
<br />that Lender shall give Borrower not cr pnot to .tits +u.h :nspecben +pcof,,ny rea,.n;t,ie .v.r+c !hr•rctr�r re .i ..,. I .: J.,• .
<br />.n!eresc •n the Prorstrtv
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