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<br />85-001193
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. 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 Decd of Trust.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to n written waiver by Lender, Borrower shall pay
<br />to 1 -ender on the clay 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 ;early 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 a 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 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 it 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, -I -ender 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 plcdeed as additional security for the sums secured
<br />by this Deed of Trust.
<br />If the amount of the Funds be!d by Lcndcr, together with the future monthly installments of Funds payable prior to
<br />the duc dates of !axes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said lazes.
<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 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 Decd of Trust. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If tinder 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. AppHcatlon of Payments. Unless applicable law provides otherwise, all payments received by Lcndcr 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 shatl pay all taxes, assessments and other charges, fines and impositions attributable 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 />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 furnish to Lender all notices of amounts clue 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 prierity over this Deed 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 in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in.
<br />tcgal proceedings which operate to prevent the enforcement of 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 sums 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 _.raid 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 all renewal notices and ail 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 repair is not economically feasible or if the security of thin 9ced of Trust would
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<br />e impaired, the 'insurance proceeds shall be applied to the sums secured by this Deed of Trust, 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 otters to settle a claim for insurance benefits. Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or to the sums secured by this Decd of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of -zeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs I and 'z hereof or change the amount of
<br />such installments. If under paragraph 18 hereof the Property is acquired by Lcndcr, all right, title and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the extent of ;he sums secured by this Decd 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 shail net commit waste or permit impairment or dateriortlion of the Property
<br />and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. If this Deed of Trust is on a unit in a
<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 Dced of Trust, the covenants and agreements of such rider
<br />shall be incorporated into and shall amend and supplement the covenants and agteenuents Of this Decd of Trust as if the rider
<br />were a part hereof.
<br />7. Protection of Lenders Security. If Borro:vcr fails to perform the covenams and agreemems contained in this
<br />Dced of Trust, or it any action or proceeding is commenced which materially affects Lender's interest in the Properly,
<br />including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
<br />I or decedent, then Lender at i_endcr's option. upon notice to Borrower, may make such appearances" diSNusc slosh
<br />sums and take such action as is necessary to protect Lender's interest, including, but not limited to, dishnrSemCut of
<br />reasonable aticrney's fees and entry upon the Property to make repairs. if Lender required mortgage insura"^.ce as a
<br />condition of making the loan secured by this Decd of Trust, Borrower shall pay the premiums required to maintain such
<br />Insurance in effect until such time as the requirement for such insurance terminates in :,ccordance with Borrowers and
<br />Lender's written agreement or applicable law. Borrower shatl pay the amount nt all mortgage insurance premium, in the
<br />manner provided under paragraph 2 hereof.
<br />Any an.ounts disbursed be Lender pursuant to this paragraph 7, with interest thereon. shah heanne aJ:;iliun:d
<br />Indchicdncss a[ Borrower scented by this Deed of Trust. Unless Borrower end Lender agree to other terms of payment. Such
<br />:,n ou n;% shall Ire payable upon notice from Lender to Borrower reyues!me payment thereof, and shall i•e.ir mteresi !inn flit
<br />date of disbursement at the rate payable from tittle to little on lint stmci !III,. principal under the Note uoicss Payment of ii crest
<br />at arch rate Sur " :ulrt be: contrary it applicable law, in which ascot ;ueh amounts shall 'hear mi;r;cct at iL•c hwhest rue
<br />permissible under applicable taw. Nothing contained in tbu paragraph 7 shall recinm� Lender m incur any expense or take
<br />;mv adean larcunder
<br />S. Inspection. ! meter may make of atew to he made v line, upt - :n ! i aspect nos of the Property, 1 r ' tr,t
<br />that I ender :hall r!i,e Borrower nriocc ,_rim to arty cu,l, utpic..c n e,tyn8 re.a m_ 1C cau.c therct.,r .,!:rtes! i,r ! rodvr ,
<br />overest :n the Promtty
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