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RE -n '
<br />83. 105063
<br />LJNiFJRM COVENANTS. Borrower and Lender covenant and agree as follows:
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<br />88. 104485
<br />1. Payment cf Princlpal and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Mote, prepayment and " +rate charges as provided in the Note, and the pnnopaf of and interest on
<br />any Future Advances secured by the Deed of Trust.
<br />2, Funds for T axna and Inrwrrrance. 5ubiect to applicable law or ton written waiver by Lender, Borrower shall pay to Lender
<br />or. the day monthly installments of principal and interest are payable under the Note, until rite Note is paid in full, a sum (herein
<br />"Funds ") equal to one - twelfth of the yearly taxes and assessments which may attain priority over this Deed of Trust, and
<br />ground rents on the Property, if any, plus one - twelfth of yearly premium installments for hazard insurance, plus one twelfth of
<br />early premium installments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by
<br />Lender on the basis of assessments and bills and reasonable estimates thereof,
<br />The Funds shall beheld in an institution the deposits or accounts of which are insured or guaranteed, by a Federal or state
<br />agency (including Lender it 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 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 to writing at the time of execution u7 this Deed of Trust
<br />that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicabbe law requires such
<br />interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to
<br />Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for
<br />which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Deed of
<br />'crust.
<br />If the amount of tyre funds held by Lender, together with the future monthly installments of Funds payable prior to the due
<br />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 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 held •jy
<br />Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due. Borrower shall
<br />Ray to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed by Lender to
<br />orrower 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 held by
<br />Lender. if under paragraph 18 hereof the Properly is sold or the Property is otherwise acquired by Lender, Lender shall apply,
<br />no later than immediately prior to the sale of the Property or its acquisition by Lender, and Funds held by Lender at the time of
<br />application a�; .r credit against the sums secured by this Deed of Trust.
<br />3. Applicat (, :i :, c, Payrnenta. Unless applicable law provides otherwise, all payments received by Lender under the Note
<br />and paragraphs I z,card 2 r :nreof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under
<br />paragraph 2 hereof, the!! i,, ;nrr-.rrasl payable or. the Note, then to the principal of the Note, and then to interestand principal on
<br />any Future Advances.
<br />q. Charges; Liens. Borrowers,, ay all !axes, assessments and other charges, fines and impositions attributable to the
<br />Property which may attain a priority o r this Deed of T f u91, and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or, if not rr:i;d 'n such manner, by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shall promptly furnish Lender all notices of arnounts due under this paragraph, and in the event
<br />Borrower snall snake payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shalt promptly discharge any lien which has priority over this Deed of Trust; provided, that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall in writing to the payment of the obligation secured by such
<br />lien in a mariner acceptable to Lender, or shall in good faith cor,',r�st such lien by, or defend enforcement of such lien in, legal
<br />proceedings which operate to prevent the enforcement of the lien or forleiture of the Property or any part thereof.
<br />S. Hazard Insurance. Borrower shall keep the improv,3ments now e r •.-,ring 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 !,ender may require; provided, thus lender shall not require that the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured tip this Ceed of Trust.
<br />This Insurance carrier providing the insurance shall be ctacsen by Bos rower subject to approval by Lender; provided, that
<br />such approval shall not be unreasonably withheld. All premiums on insurance policies shall her paid in the manner provided
<br />under paragraph 2 hereof or, if no! pvr 3 in such manner, by Borrower making payment, when due, directly to the insurance
<br />carrier.
<br />A!! insurance ooiiu i cs ano rc-newa!s fhereot shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor ol and in fora, acceptable to Lander. Lender shall have the right to hold the Policies and renewals thereof, and
<br />Borrower shall t�,s crnplly furnish to L.er,der all renewal noticesand all receipts of paid premiums. In the event of foss. Borrower
<br />shat! give prompt r,oUce to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the
<br />Property damaged, provided such restoration or repair is economically feasible and the security of this Deed of Trust is not
<br />thereby impaired. If such restoration or repair is not economical!y feasible or it the security of this Deed of Trust would be
<br />impok,ed, the insurance proceeds shall be applied to the sums secured by this Deed of Trust, with the excess, if any, paid to
<br />Borrower. It the Prop" is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date
<br />notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender is
<br />authorized to collect and apply the imMMr,ce proceeds at Lender's uption either to restoration or repair of the Property or to
<br />the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower oth ..Nise agree in writing, any such application of proceeds to principal shall not e.vf and or
<br />postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount (A such
<br />installments. If under paragraph '18'nereof the Property is acquired by Lender, all right, title and interest of Borrower ±n and to
<br />any insurance policies and in and tc: thc,:rcc 3cds f. iereoi resulting from damage to tht, Property prior to the sale or acquisition
<br />shall pass to Lender to the extent tat the surns secured by this Deed of Trust immediately prior to such sole or acquisition.
<br />6. Preservation and Malntenan,, a < :jf. Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower shall
<br />keep the Property in goo repair arid shall not commit waste or permit impairment of deterioration of the Property and shall
<br />comply with the,xcvisicas of any lipase if this Deed of Trust is on a leasehold. It this Deed of Trust is on a unit in a condnrninium
<br />or a planned unit development, Uorrrawer shall perform all of Borrower's obligations under the declaration or covenants
<br />creating or governing the condcrWrrium or planned unit development, the by -laws and regulations of the condominium or
<br />planned unit development, and con ;tiluent documents. If a condominium or planned unit development rider is excuted by
<br />t�Borrower and recorded tor,-',her witri this Deed of Trust, the covenants and agreements of such rider shall be incorporated
<br />into and sh;:l! amend and supplement the covenants and agreernenis of this Deed of Trust as if the rider were a part hereof.
<br />7. Protection of Lender's Srrr ;urity. If Borrow; er fails to perform the covenants and agreements contained in this Deed of
<br />'Trust, or it an), acti--n or proceeding is commenced with materially affects Lender's interest in the Property, including but not
<br />limilcd to, emment domain, insolar,-nry, code enforcement, or arrangements or proceedings involving a bankruptor decedent.
<br />then Lender at Lender's option, upon notice to 130i rower, may make such appearances, disburse such sums and take such
<br />action asir3necessaryto protect Lender's interest. including, bulnotlimitedto, disbursementof reason -ableattofney's fees and
<br />entr upon the Property to mak r repairs. II Lender required mortgage insurance as a condition of making the loan secured by
<br />the eed of Trust, Borrower shall pay the premiums required lo maintain such insurance in effect until such time as the
<br />requirement far sr.rch insurance trarminates in accordance with Sorrower'sand Lender's written agreement or applicabbe law.
<br />Borrower shall pay the amount of all mortgage insurance permiums in the manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lander pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secured by this Deed of Trust, Unless Bor rovrier and Lender agree to other terms of payment, such
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment hereof, and shall bear interest from the
<br />date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of interest
<br />at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br />p! ?r:nissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any
<br />action hereunder.
<br />S. Inspection, Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />Carat Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefore related to Lender's
<br />irr',erest in the Property.
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