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<br />83-t30v~~:t=.
<br />Uxtsoant CoveNntvrs. Borrower and Lender covenant and agree as fo0ows:
<br />1. Payment of Principal sad Interest. Borrower shalt promptly 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 />on any Future Advances secured by this Deed of Trust.
<br />L Peatb for Tara and hrsaraace. Subject io applicable law or to a writ[ert waiver by Lender, 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 fulh
<br />a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority aver this
<br />Dead of Trust, and ground rents an the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance.
<br />plus one-twelfth of yearly premium installments far mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to time by Lender on the basis of assessments and hills and reasonable estvnates thereof.
<br />Tht 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 ac-d ground rents. [.ender may not charge for so holding and applying the Funds, analyzing said account
<br />ar verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Fnnds 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 anv interest ar earnings on the Funds. Lender
<br />shalt 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 [he Funds was made. The Fnnds 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 fuhrrc monthly installmrnts of Funds payable prior to
<br />the due dates of taxes. a~ amens, insurance prr_ sums anti ground rents, shall exceed the amount required to oay said taxes,
<br />assessments, insurance premiums and ground rents ;rs they tail Jue. such excess shall be. at Borrower's option, either
<br />promptly repaid to Borrower ar credited to Borrower on monthly installmrnts of Funds. tf the amount of the Funds
<br />held by Lender shall no[ be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due.
<br />Borrower shag pay to I-ender 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 al! sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph Ig hercof the Progeny rs sold r:r the Property is otherwise acquired by I_endec Lender
<br />shat! apply, no later than immediately poor to the side of the Property or its acyuisiuan 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 applirablc law provides otherwise, all payments received by Lender under the
<br />Nate and paragraphs 1 and 2 hereof shaii be applred Ly Lender first m payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, [teen to interest payable an the Ncxe, then to the princrpal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Chat>zes; Lierrs. Borrower shall pay all rases. assessmenh amt other charges. Pines and impositions attributable to
<br />the Property which may attain a priority over this Dred 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 due under this paragraph, and in the
<br />event Borrower shall make payment directly, Borrower shag prompt[}' furnish to 1_ender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over tha Uerd of Trust; pruyideJ, that Borrower shaii not hr
<br />required to deschargt any such lien so tang as Borrower shall agree in writing to the payment of the abligalion secured by
<br />such lien in a manner acceptable to 1.ender, or shall to goof forth contest such tiro by, or defend enforcement of such lien in.
<br />legal PProceedings which operate to prcveat !hc zntorcement of the hen or forfeiture of the Property or any part thereof.
<br />5. Hazed Insurance. Borrower shall keep the improvements now rsutrng or herea(trr erected on the Property insured
<br />against loss by fire, hazards included within the term "rxtrndrd coverage", :mJ wch other hazards as 7_ender may require
<br />and in such amounts and for such gonads as 1_eniler may rryuirr; pruvideJ, that i_endrr shat) oat require that the amount ei
<br />such coverage exceed that amount of coverage reyuind to pay the sums secured by this Dred of Trost.
<br />"I'he insurance carrier providing the insurance shall tn> chosen by Borrower nrbiect to approval by Lrndrr, provided.
<br />that such approval shall not tse unreasonably withhelil. All premiums on insurance policies shall bt paid in the manner
<br />provided tutdu paragraph 2 hereof or, rf not paid in such manner, by Borrower making payment, when due, directly to the
<br />iOSUranCe Collier.
<br />All insurance policies and retxwals thrreet shall bz rn form acceptable to LrnJer and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender [.ender shall have the right m hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss,
<br />Borrower shall give prompt notice to the insurance earner anJ I_cndrr. LenJer may make p«xif of lass it oat made promptly
<br />by Borrower.
<br />Unkss Lender acrd $orrawrr cxhrrwisa agree in venting, rnserranec prc?eecds shall tx applied to restoration or repmr of
<br />the Property damaged, provided such restoration ar repair is economically ieasrblr and the security of this tA~eil of 'Trust is
<br />oat thereby impaired. If such rtstaraoon or copse is not ecr>nomieally feasible or if the security of chi, Deed of 'Rust would
<br />be impatreil, the insurance prncecds shaii tse applied to the sums secured by this !?zed of "inn6 wath the rscess, if any, pail
<br />to torrower. If the Property is abandoned by Borrower, or if Borrower tads to respond to Lender within 30 days from lhr
<br />date notice is mailed by lender to Borrower that the insurance earner atfers to settle a claim far insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at Lenders option either to restoratmn ar repair of the Property
<br />ar to the sums sexurod by this Deers of Trent.
<br />Unless Lender and Borrower otherwise agree m wnung, am° such apphcaaon of pntcreds to principal shall nal extend
<br />or postpone the due daft of the monthly installmrnts referred io m paragraphs I and ?hereof ar change the amount of
<br />such installments. tf under paragraph I8 henrot the Property n acyuirrd by I ender, all right, tick and interest of Borrower
<br />in and to any insurance policies and in surf ro the pntceet(s thereuC resulting from Jantage to the Property prior to the sale
<br />or acquisition shall pass to Ixniltr to the csttnt of the sums x~cuntit by this C~ctil of Trust immediately prior to such sak or
<br />acquesition.
<br />6. Preservatitta and Mtliotenance of Property; I.eitseholds; Condomiwiuras; Planned Unit Developments. $orrower
<br />xha6 keep the Property m grx+d repair soil shall not :onmtn waltz ar pzntut imparrmcnt or Deterioration of the Property
<br />and shag comply with the provisions of any least if this i)eed of Trust » an a leasehold. It this Dred of Trust is an a unit in a
<br />condominium or a plannai unit deveioprttent, Borrower shaii perform all of Borrower's ohligations under the dedarafion
<br />or covenants creating or governing the axtdominium or pianneil unit development, the by-laws soil regulations of the
<br />condominium or planned unit development, acrd constituent dttcumenb. I! a condominium or planned unit devrlapmem
<br />rider is txeeuted by Borrower slut rezonird together wuh this Decd al 7 «rst, the covenants and agreements of such rider
<br />shag be incorporated into and shall amend and suppiertent the covenants anJ ugreeinents of :hn Ck-rJ of Trust ;u if the rider
<br />were a part hereof.
<br />?. Pnatettfar of LeadePs Security. U Borrower farts to perform the covenants and agreements zentameil in this
<br />Decd of 7tust, or if any action ar proxedmg is cammenree! which mate«ally affects Lender's interest in the Property,
<br />irrc#uding, but oat limited to, eminent domain, insoivrncy, Cade enforcement, or arrangements or procerxiings invah'ing a
<br />tmtrkrupt at decedent, then Lender at Lrndrr"s option, upon nouzr to Harrower, may make such appearances, Juhurse wdr
<br />surrrs sled take such action as is titcessary to praiect Lender; mrcrest, utduiling, lief not Iimilril to, Jnhunentem of
<br />reasonable attorney's ftxs sled entry upon the Property to make repairs. !i Lender rryuired mortgage imurance as a
<br />cotulliion of [risking the Icon secured by this Deed of Trust, Borrower shall pay the premiums reyuirzJ tr nruuu:un such
<br />imuranec in aHeet unSl sue6 titrsz as iht rtquiremrnt for such insurance terminates in accerilaocc with Bo«trwer's anJ
<br />l..tndtr's wriittn agreement ar applicabk law. Borrower shall pay rite anxeunt of all mortgage insurance premiums .n the
<br />rrtanrtor provided under paragraph 2 hereof.
<br />Any arrtouate disbursed by L.enticr pursuant to this paragraph 7, wuh urtrrest thereon, shall hzconrr ;aiilitna+ai
<br />ittdoWedetaa of Boerawer secured h}° this [)led of 'frusl. Unless Barrowrr anJ !ender agree to other trrnn al pav mint, urcty
<br />arrrnatntx shalt fro paYabk upon MMict from Lender w Borrower requesting pa}nirnt thrreol. ;niJ shut) hear interest loan tttz
<br />ul dbbttratrlranf at fire raft payable from tune to time on outstaruting principal under the \otc mJzss payment „1 interest
<br />at atuh rate wotdd be contrary !o applu:abk taw, in whra~h event such amounts shaii tsrar snterrsr at the highest rate
<br />pwniiatible under appliealde law, Ncthrng arntatretd in [has paragraph ? chali require Lrnctcr to incur anv expense or take
<br />any acton hetetntder.
<br />i;+ ttyatYYwt. Lender rosy make or cause to be made ressaitablr cntnes ulx+n and +nspcruons of the P«+n,:«v. pro+,JeJ
<br />tluit LctsVet shag;eve 8ortt»vet rxsesce price to auy stx:h insptv:trc+rr spr.'<•iiying rrasanahlr cause thcrri.+r iLlatrJ n+ I enJrt
<br />se0e-z>~ en 1Im Progsrtr.
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