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Use poet a Colimo am. Borrower and Lender covenant and agree as follows: 85-- 006144
<br />1. ftynewt of r , if atari Imewest. Borrower shall promptly pay when due the principal of and interest on the
<br />itxktftdnm cufdenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interes
<br />on anyy Future Advances secured by this Deed of Trust .
<br />2. boric gar Tmn ad Iasutsee. Silk]; t to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day meanthly installments of principal and interest are payable under the Note, until the `vote is paid in full.
<br />a sum (herein "Fur 7 equal to tome - twelfth of The yearly taxci; and assessments which may attain priority over this
<br />Deed of Trust, and ground rants an the Properly, if any, plus one- twelfth of yearly premium tnstalhaetits for hazard insurance.
<br />plus one- NPNftla of yearly premium install its for mortgage insurance. if array_ all as reasonably estimated initially and from
<br />im
<br />te to time k
<br />x by Lder an the basis of assessments and hills and reasonable estimates thereof.
<br />The Funds slaaB be held m an institution the deposits or account, •of v.-hick! are insured or guaranteed by a Federal or
<br />state agency ffmchilding Linder if Lander is such an irmitutici Lender shall apply the Funds to pay said taxes. assessments.
<br />insurance pre minims and ground watts. Leander may not charge for so holding and applying the Funds, analyzing said :account
<br />or vel if itsg and coetlipiling said assesmaenns and bills. uniess Lender rays 'Borrower interest on the Funds and applicable law
<br />=pp�e� Leader to make such a charge. Borrower and Lender may agree in writing at the- tune of execution of this
<br />of Trust that interest on the Fonds shall be paid to Borrower, and unless such agreement is made car applicable law
<br />njui es such interest w be paid, Lender shall not be required to pay Borrower any mierest or earnings on the Funds. Lender
<br />small grKt to Borrower, without charge an annual accounting of the Funds showing credits and delaits to the Funds and the
<br />gatpose for which each debit to the Fronds was trade. The Funds are pledged as additional security for the sums secured
<br />lny this Dt,- d of Thw
<br />1f the annOUmt of the Funds held by Lender, together with the future momhly installments of Funds payable prior ic,
<br />the due dates of taxes, assessments .insurance premiums and ground rents. shalt exceed the amount required to pay said taxes,
<br />assesstaents, insurance premiums and ground rents as they Jail due. such excess shall tae, at Borrowers option, either
<br />psotaptly repaid to Borrower or credited to Borrower m month]%• installments of Funds. If the amount of the Fund,
<br />held by Leader shat] not he sufftcrew to pay taxes. assessments. insurance prerr ems and ground rents as they fall due.
<br />Borrower shall pay err %elder any attaoarnt necessary to make up tfie deficiency within 30 days from the slate nonce is mailed
<br />by Lueader m �4�mb payment thereof.
<br />Upaa payment at ittil of all sums secured tri trtis Decd of frost. 1 -ender shall promptly refund io Borrower any Fund,
<br />hell by Isnder. If tinder paragraph 1R Iterecif tlu prapesly is Bald or the Properi is otherwise acquired by Lender- Lender
<br />shag spp}y, ono later thtsn ittatned%ately prior rn lire sale cif the propem or its acquisition by Lender_ any Funds 'trrld by
<br />Lender at tine time of appiicatioa as a credit aRgrainsi the sums secured by this Deed of Trust.
<br />3 Ap+ricaiow wf ta3smesls Unless .applicable taco provides otherwise. all payments recer%ed by Leader under the
<br />nde
<br />Note and pat xjgrapnhs 7 and 2 hereof snail lee applied by, Ler first in payment of amounts payable to Lender In Borrower
<br />amder pwravvh 2 hereof, then to interest payable on the Note. then to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />J. Uem Borrower shall {mat• all taxes. assessments and other charges. fines. and Impositions atrributabie
<br />the Property wbicb may armul a priority over this Deed of Trust, and leasehold payments or ground rents. if any. in the
<br />manse provided trader paragraphs 2 hereof err, if not plaid in such manner, by Borrower making payment, when due, directly
<br />,o t payee ayeie thereof. Borrower shall promptly furnish to Lender ail 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 paxmenis.
<br />Borrower shall promptly discharge any lien which has pnority •over this reed of Trust: provided. that Borrower shall nor he
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured h%
<br />such lien in a manner acceptable to lender, or shall in good fanh contest such lien by, or defend enforcement of such lien in
<br />kpsings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof
<br />5. Arid Leasawa. Borrower %hall keep the improvements noa existing 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 require
<br />and in such amounts and for such periods as Lender may require: pros ided, that Lender shall not requirc that the amount of
<br />such coverage exceed that amount of coverage required to pas the stuns secured by this Deed of Trust
<br />The insurance carrier providing the insurance shall be chosen by Borrower suhlcct to apt ro, al H% i.ender rirovidei!.
<br />the such approval sW not be unreasonably withheld. All premiums on insurance policies shall lie paid in the manner
<br />provided trader paragoph 2'hereof or, if not paid in such manner, by Borrower making payment, when due. directly ro the
<br />i>.
<br />All insurance policies and renewals thereof shall he in form acceptahir io lender and shall include a standard mortgage
<br />clause its favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish to Lender all rencwal notices and all recclrrs of paid premnims. In the event of loss.
<br />Borrower shall give prompt notice to the Insurance carver and Lender. Lender rnav makc proof of loss it not made promptly
<br />by Barrow er.
<br />Unless !.ender and Borrower otherwise agree in writing. insurance proceeds shail he applied to restoration or repair m
<br />the property damaged- provided such restoration or repair IS economic:aih feasible :,rid the security of this Deed of Toast
<br />two thereby itmpained. If such restoration car repair is not economically feasible or ii the wcurny of this Deed of Trust would
<br />be itmpairtd, the 'insurance proceeds shall he applied io the sums secured by this Decd of Trust, wvth the excess, if any. narai
<br />to Borrower. If the Property is abandoned by Borrower. or it Borrower fails ILI respond to Lender within 30 days from the
<br />date notice is mailed by Leader to Bortower that the insurance carrier offers tit settle a claim for insurance henents. Lender
<br />I, authorized to collect and apply the insurance proceeds at Lender's option either io restoration or repair of the proper
<br />or to the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, :toy such appihcaoon o; proceeds to pnncpal shall not extrnd
<br />or postpone the dim date of the monthly installments referred to in paragraphs 1 and ' hereof or change the amount of
<br />such instaltrnents. if under paragraph l x herect the Propert% is acquired hl Lender. all right. uric and +nic rsi of Born cost
<br />in and to any insurance poiicie> and in and to the proceeds thereof resulting from damage to the Property prier :o the sale
<br />or acquisNion shall pass to Leander to the extent of the sums secured by this Deed if Trust immediatr1s, prior to such saie . r
<br />acquisiarom.
<br />f. Prawrwallio tot ]NaimMemmor of Ttioleuty; leasebuW: Cosideanknionia. Planned Unit DtrtdaMeata Borrower
<br />shall keep the Property in good repair and shall not commit waste or porno impairment or it ictioraiton of the laroperty
<br />and shall comply with the provibions of any lease if this Deed of Trust is on a icaschoid It this Deed of Trust ,s on it unit In a
<br />condominium of a planned unit development. Borrower shall petform all of Borrower's obligations under the dcciaratror!
<br />or covenants createng or governing 'he condominium or planned unit development. the by -laws and tcguiatron, oI the
<br />condorninium or plmeed unit development, and constituent dcirumfents it a condominium or planned unit devciopmem
<br />rider is cxetufed by Borrower and recorded together with this Deed of I rust. the covenants and agreements M such rider
<br />ahti&l be incorporaaed into and shall amend and supplement the covenants aria sgrmnivnts of this Deed of Trust is it the rider
<br />were a pan hereof.
<br />7. 11"Woftedast of Lender's Sscurby. If Borrower fails to perform Cite covenants and agreements contained in ibirk
<br />Deed of Trii or if any action at ,prooivding is commenced which materially affects ixndcr', interest in the Property,
<br />mciudmg, but r limited tot emne ni domain. insoh•enci. code cnforcetncnt, or ar'tangcments or proceedings Involving .i
<br />banilirupt or decedent, then Lender at Leader's option, upon nonce ro Iii:trPwcr, may oaks such appearance,. disburse such
<br />starts and tape such Aaiun as is neor'siard td Yitecl Lender's Vorsf, including Hut not limited io. disbur,emcnt of
<br />reamaabie atrornN's fete and entry upion7 the ropefly to make repairs If Lender required mortgage m,urance as a
<br />t;andittion of maic mg the kaan seicured by this Deed cif Trust. Borrower shall pay the preen unts rcgu +red to iniimtasn .rich
<br />insurance in tnffect until sorb time as the requitement for such insurance terminates in accordance with Borrower's and
<br />Ltader's written agreemtenr or app$icable tit* Borrower shall pay the arrivani of ;ell itiorigafc >nsuratice premiums ,n the
<br />manner p. ovided under paragraph 2 hereof.
<br />Any amcaunas clis unied txp ]ender pufwam to this paragraph with n Icr ,t thcrr n. ,hall Hcrome addn!onat
<br />ridetseedrreaw a( Ilarrctwer secured by -his Deed of Trusi t niess Borrower and I erdrr ,gicr n I tfe-r terms of paNnicnt. tech
<br />-Int urif, I.N 01 be payable upon notice from (..ender to B< r owrr ;cyuestini; payment ihcreof..ind .hail heal Interest trom the
<br />dare ref disburlemcrnt aI the rate payable frtim time to trine r,n ilutstanding rrinclpal under the 'emote unless pa%menl i =f rm:ar-,t
<br />at xuch race wc•suld !ir ecmharV, to applicable law. ,n what, :vent • -och unlount .halt irar ntierrsi ..t the hagbeN sate �f
<br />perrnswbdc under applicandc law liothng contained in till, Irarapapb " ...tell ,cquot: I c•adct le ins ixt arty rxpcnse or take
<br />at:v Action !acrrundet
<br />g- IMllpkx4lun. tridcr rnav make c,I auW u, tic made tt•a,i,Irdtiir : -tne, i•,rr[ , t fhc ,'!<ir'u•rry jt'.i
<br />,7rxii,'c Ilwf"wer n,.,tizr ratan tip slot such =. sriect I,n a
<br />tmeil,Iik err n. k �ci' •i'• ak °�7 _ ��n rI.
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