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€3tviFaxna t/ov~riaxrs. $orrower and Lender covenant and agree as follows:
<br />.1. Payment of Principal and Interest.: Borrower shalt prom~±tfy pay when due the principal of and interest an the
<br />indebtedness evidenced by the Note, prepayment and 'late charges as provided in the Note, and-the principal of and interest
<br />n any Future Ad~~ances secured by rh,s Deed of Trust.
<br />2. Funds for Tales and I»surance. Suh~ect to applicable law or to a written waiver by Lenders. Borrower shah pay..
<br />to Lender on the day monthly mstallmente of principal and interest are payable under the Note,-until the Note is"paid in full,
<br />a sum (herein °Funds"~ equal ro one:-twelfth of the yearly taxes and assessments which may attaim priar%ty over Yh4
<br />Deed of Trust, and d ound rent, on the Praperty, if any, plus bne-twelfth of yearly premium instaltments`for hazard insurance,
<br />plus one-twelfth of pearly premium insCaftments ;or niortrageinsurance, if any, 31l as reasonably-estimated initially:and from
<br />time to time by Lender on the basis of assessments'ard brill and reasonable est§tnatesthereof.
<br />The Funds steal! 've held in ar, institution the deposits ar accounts of which. are insured ar guaranteed by a Federal er
<br />state agency (inctudint; Lender if Lenr?er is stic;h an instrtution~}. I:ender hall apply theFunds to pay;Said :ar.es, assessincnts.
<br />insurance premiums and ground rears. Lender mac not charge for sa halding~and applying the Funds: analyztrc laic': account
<br />or verifying and compiling said assessments and~b~ils, unlesshender pays Borrawer interest on thehunds and appli~abfe ]au~
<br />permits Lander to make atrcr a charge.. Borrawer and Lender may agree in writing at thetime of execution of this
<br />Deed of Trust tFsat snterest on the Punde shall be paid to Borrower, pad 'unless such agreement is riiadc or appticabtc lay+~
<br />requires such interest to he paid. Lender shall pat be recluked to pay Barrower any interest or earnings,an tide Funds. Lender
<br />shalt give to Borr-owe:. ^.virhout charge, an annua} accauntiogof theFundsshowing cred%ts and aienits to the Fund; and the
<br />purpose for which each debit to the Fundswas made. The Funds are piedgedas' additionalsecunty;ar theselms secured
<br />by this Decd of Trust
<br />If the amount ,~f the Funds heFd by I:;ender, together with the future month#y installmentsaf Ftmds payable n ar u,
<br />the due dales of`taxes, assessments, insurance,premiums and ground rents, shall exceed the: amount required topaz sa,d t.rxe<,.
<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 io Borrower or. monthly installments of Funds. If the amount of the Fund:;
<br />held by L,~nder shall not be sufficient to pay tastes, assessments, insurance premiums and ground rents as they fail due.
<br />Borrawer shelf pay to Lender any amount neeessar}~ Pa makeup the deficiency within 30 days tram €he 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 pramptly refund to Borrower any Funds.
<br />he[d by Lender. If under paragraph i8 hereof the Praperty is said or the Praperty zs otherwise acquired bc~ Lender; Lander
<br />shall apply,na later than immediately prior to the sate of the Property ar its acquisition by i_ender, anyFundsheld by~
<br />Lender at:the lime of application as a credit against the sums secured: by this Deed of Trust.
<br />3. Application of Pavmenfis. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note:and para~;raphs 1 and ~ hereof shall be applied by L..ender first in payment a[ amounts payable to i_ender by Barrower
<br />under paragraph 7 hereof, then to interest payable on the Nate, then to the principal of the. ".Vote, and then to interest and
<br />principal an any Future Advances.
<br />4. Chargrtst Liens. Barrower shall pay all taxes, assessments and other c:fiarges, fines and impositions attributable to
<br />the Property which miry attain a priority aver this Decd of Trust, and leasefiald payments ar ground rents, if any, in the
<br />manner provided under paragraph 2 hereof or, if pat paid 'tn such manner, by Barrower making payment, when due,. directly
<br />to the payee.thereaf. Borrawer sha[I promptly furnish to fender all notices of amounts due under this paragraph, a.nd in the
<br />event Barrowez• shall make payment directly, Borrower shall promptly furnish t<> Lender receipts evidencing such payments.
<br />Borrower shalt promptly discharge any lien which has. priority over this Deed of Trust; provided, that Borrower shall pat bc:
<br />required is discharge any such lien so long as Borrower shalt agree in writing to the payment of the otsligatian secured by
<br />suchlien in a manner acceptable to Lender, or shall in good faith contest such lien by, ar defend enforcement of such lien in.
<br />legal proceedings which operate to provent the enforcement of the lien ar forfeiture of the Praperty or any part thereof.
<br />5. Flazard Inswraince. Borrower shall ~Ceep the improvements now existing ar hereafter erected an the Property insured
<br />against loss by fire, ha;tards 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 pat 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 cattier providing the insurance shall be cfioseta by Iiarr«wer subject to approval by I_.ender: pravideti.
<br />that such approval shall nor be unreasonably withheld. Ati premiums an insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof ar, if not paid in such manner, by Barrower making payment, when due, directly to the
<br />insurance carrier.
<br />Aid insurance policies and renewals thereof shall he in form acceptable to lender and shall include a standard mortgage
<br />clause in favoe of and in farm acceptable t~a I,cnder, Fender shalt have the right to held the policies and renewals thereof,
<br />andBorrower shall pramptly furnish to Lender all reztewal raatices anti all receipts of paid premiums. In the event of loss.
<br />Borrower shall give prompt notice to she insurance carrier and I.cnder. Lender may make proof of loss if net made pramptly
<br />by Borrower.
<br />Unless Lender and Borrowet• otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoration or rep air as economically f'+:asihle and the security of this Deed of Trust is
<br />pat thereby tmpa~ired. if such restoration or repair is rtat eaonanticaily 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 Decd of "I~rust, with the excess, if any, paid
<br />to Borrower. if the Property is abandoned by $arrnwer, or if Borrawer fails to respond is Lender within 30 days from the.
<br />date notice is mailed by Lender to $arrnwer ghat the insurance carrier offers to settle a claim far instrrancc benefits. L..ender
<br />is atathorizett to collect and apply the insurance proceeds at l,.ender's option either to restoration ar repair of the Praperty
<br />ar to the sums secured by this Deed of Trust.
<br />Unless "Lendee and Borrawer athetw'isc agree in writing, any such application of proceeds to principal shall. pat extend
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<br />such insfallntents. If u:tider paragraph f $ hereof the Property is acyuirr~cl by Lender, all right, title. and interest of Borrawer
<br />in and to any insuranc<: policies and in and to ttse proceeds thereof resulting tram damage m the Praperty prier to the sale
<br />or acqursidon 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 />~. Preser~a~adon and Maintenance of Property; Leas+elaoids; Condominiums; Planned Unit: I?evelopments. Barrawei•
<br />sfi:,l[ keen th. Property in ~^eod repair and nhatl pat commit waste ar permit impairment ar deterioratiutr of the Property
<br />and shall~compl} wit~; the pravrsians of any lease ifThis Deed of Trust is an a leasehold. lfthis Deed of Trust is on a unit in a
<br />condominru r >a a nfar;,cd t nit development, Borrower shall perform elf of Borrower's abligatians under the deciaratian
<br />ar cuti~cnant, „r: a.it~~ c= govcrr:ing the condominium ar planned unit develaptnent, the by-laws and. reguiatians of the
<br />condaminim€n or planned nr.: uevelopment, and. constituent documents. If a condominium ar plopped unit develapmzmt
<br />rider ,; ezecute<: by Borrowe° and recorded together with this Reed of Trust, the covenants and agreements of such rider
<br />shall he incorpe~r:rted unto and ,.mall a.nend and supplezrreaat the wvenattts and. agreements of this Deed of Tease tar. if the,rider
<br />werf Pa Ft hta'B~?i'.
<br />-r, ~ I'rotcc~>ticin of d,enders Sreenrity. 8l $ot'LOwer fails to perform the covenants and agreements contained ita thl.
<br />[]e ~ cat i t i s , cr ii a ; ct,oc ~ n c c- i,rg s or:,menced .which znateriaily atfccts Lender's zr ~ St a ,ae Prape. i , •
<br />;n;;tud *,., hu ~ v; [ir rued o. , nc+: 3,xaa~ , , , ~ ern grade enforcement, or arrangenenes ar e r ~; n r.,,l r .r
<br />hankrup[ or ~ .a.der, F w~ 7c c ,:~ l ~ ,. upc re ~, lice to Borrower,. may make e ieh sp ~ ~ ,.~ s ~-rrse u
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