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<br />85-- 0011gti
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows;
<br />I. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Deed of Trust.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Leader, Borrower shall 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 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 or accounts of which are insured or guaranteed by it Federal or
<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 ac.:aunt
<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 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 law
<br />requires such interest to be 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 to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes.
<br />assessments, insnrancc premiums and ground rents as they frill due, such excess -hall be. at BorowcCs 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 Lender 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 18 hereof the Property is sold or the Property is otherwise acquired by Lender. Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender. any Funds held by
<br />Lender at the time of application as a credit against the sums secured by this Deed of Trust.
<br />3. Application of Payments. Unless applicable law, provides otherwise, all payments received by Lender under the
<br />Note and paragraphs I 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 payable on the Note, then to the principal of the Note, and then to interest and
<br />principal on any Future Advances,
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
<br />the Property which may at
<br />id tain a priority over this Deed of Trust, and leasehold payments or ground rents, if any, in the
<br />manner proved 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 furnish to Lender 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 shall 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 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 in,
<br />legal proceedings which operate to prevent the enforcement r•r the lien or forfeiture of the Property or any part thereof.
<br />5. Hazard insurance. Borrower shall keep the improvements now 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: provided, that Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage required to pay the - -ims secured by this Deed of Trust.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided.
<br />that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid 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 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 policies and renewals thereof.
<br />and Borrower shall promptly furnish to Lender ail renewal notices and a!l 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 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 of
<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 re}.air 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 Deed of Trost, with the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier offers to settle it claim for insurance benefits. Lender
<br />is authorized to collect and apply the insurance proceeds at Lenders 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 of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the ante of
<br />such installments. If under paragraph 18 hereof the property is acquired by Lender, ail right, title and interest of Borrower in and to any insurance policie. and in and to the proceeds thereof resulting from damage to the Property prior to the safe
<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 />6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property
<br />and shall comply with the provisions of any lease if this Deed of Trust is on it leasehold. If this Deed of Trust is on a unit in it
<br />condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration
<br />or covenants creating or governing the condominium or planned unit development, the by -laws and regulations of the
<br />condominium or planned unit development, and constituent documents. if a condominium or planned unit development
<br />rider is executed by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such rider
<br />shall be incorporated into and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider
<br />were a part hereof.
<br />7. Protection of Lender's Security. If Borrower fails 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 in the Property.
<br />including, but not limited to, eminent domain, insolvency code enforcement, or arrangements or proceedings involving a
<br />bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower, may, make such appearances, dishurse such
<br />sums and take such action as is necessary to protect Lender's interest including, but not limited to. disbursement of
<br />reasonable attorney's fees and entry upon the Property to ;Hake repairs. If Lender required mortgage iinsurance as a
<br />condition of making the loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain Such
<br />insurance in effect uori( such time as the requirement for such insurance terminates in accordance with Borrower's and
<br />Lender's written agreement or applicable law. Borrower shall pay the amount tit :dl mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lendcr pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of 3orrower secured by this Deed of Trttst. Unless Borrower and Lender agree to tither terms of p ;iyment, ' uch
<br />amounts shall he payable upon notice from 1 ender to Borrower requesting payment thereof, and shall bear interest from the
<br />date of disbursement at the rate payable from time to time on outstanding principal under the Note nnfess paynicnt of interest
<br />It such rate would he contrary to applicable law, in which event such anwnnts ,hall hear interest at the highest rate
<br />permissible under applicable law. Nothing contained in This paragraph 7 ,hall require Lendcr to incur any expep5e ur take
<br />any action hereunder.
<br />9. Inspa7ton. ! ender may n:.rkc it capxe ie be made rcavinabfe cnlnes upon; and mspesnonv of the Property, jm,, ded
<br />[fiat 1 ender ahaB File Borrower notice prior to any such inspection ctecii,mg reasonable cause 1herc10r wlaicd to 1 .ndct .
<br />unetest. in flit Property.
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