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<br />~3-- ODU~~=:
<br />[INIFORM CoveNaxrs. Borrower and Lender covenant and agree as follows: ,
<br />.1. Payment of Principal aad Interest. Bottower shall promptly pay when due the principal of and interest nn the
<br />indebtedness evidenced by the Nate, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on an Future Advances secured by this Deed of Trust.
<br />Z. Fpnda For Tales apd IttMtrance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly installments of principal and interest are payable tinder the Note, until the Note is paid in full,
<br />a sum (herein "Funds") equal to one-twelfth of the yearly [axes 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 />trine 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 a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Deed of Trust that interest an 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 [he 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, insurance premiums and ground rents as they tall due, such excess shall be, at Borrower's option, either
<br />promptly repaid [o 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 Propetty 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 l 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 Mher 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 due under this paragraph, and in the
<br />event Borrower shall make payment directly, Borrower shall promptly furnish [n Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has pnority over this Deed of Trust; provided, that Borrower shall not he
<br />required to discharge an}' such lien so long ac 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 enforcemem of the lien or forfeiture of the Property or any part thereof.
<br />5. Hazard Imrtraaee. Borrower shat! keep the improvements now existing ar 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 end 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 Tntst.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender: provided.
<br />that such approval shalt not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
<br />provided tmdu paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />insurance carriu.
<br />Alt insurance policies and renewals thereof shall be in farm acceptable ro Lender and shalt include a standard mortgage
<br />clause in favor of and in form aaeptable 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 all receipts of paid premiums. In the even[ of loss,
<br />Borrower shall give prompt notice to the insurance earner and Lender. Lender may make proof of loss if not made promptly
<br />by Borrowu.
<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 report is economically feasible and the security of this Deed of Trust is
<br />not thereby impaired. If such restoration or repair is not economically [easible 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 Trust, with the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrower, or if &vrower faits 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 a claim far insurance benefits, 1_ender
<br />is authorized to collect and apply the insurance proceeds at 1_enders 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 postpotrc the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
<br />such installments. If under paragraph 18 hcrmf the Property is acyuired by Lender, all right, title and interest of Borrower
<br />in attd 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 o[ the sums secured 6y this Dried of Trust immediately prior to such sale or
<br />acquisitiop.
<br />6. Preacrntlnn and Maisleaaaee of Property; Leasetsolds; Cottdomftsiuass; Planned Unit i)evelopmepts. Harrower
<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 a leasehold. If this Deed of Trust is on a unit in a
<br />condominium or a planned unit development, Borrower shalt perform alt 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 ar planned unit development, and cortshtuem dceumems. IE a condominium or planned unit development
<br />tract is executed by Borrower and tet:orded together with this Deed of Trust, the covenants and agreements of such rider
<br />shaft be incorpora€ed into and shalt amend and supplement the covenants and agreements of this Deed of Tntst as if the rider
<br />were a part hereof.
<br />T. Ptate~•tioa of [.epder's Secadty, If Borrower faits to perform the covenao[s and agreements contained in this
<br />Deex1 of Trust, ar if any action or proceeding is commenced which matuiafly affects Lender's interest in the Property,
<br />induding, bet trot Bmita! to, eminent domain, insolvatc}•, code enforcement, or arrangements or proceedings involving a
<br />baakntpt or decedent. then Lertdu at Lender's option, upon notice to Borrower, may make such appearances, dishurse such
<br />earns artd take such action as is necessary to rotect Leader's interest, including, but not limited ta, disbursement of
<br />rettaattable attorttey'a fees and entry upon the Property to make repairs. If Lender required mortgage insurance as 't
<br />coal+tronof makiuS-the loan sactttcd by this Deed of Trust, Borrower shall pay the premiums required [o maintain such
<br />it~prattx in ef[eet until suit time as t}x requitetnem for such insurance terminates in accordance with Borrower's and
<br />I.esder`s wnpep agreeptept a a tcabk law. Borrowu shall pay the stnount of alt mortgage insurance premiums in the
<br />map ~ ~ttpdtlsrht~Pat'al{raph 2 httcof.
<br />raEd by Letxter putwant to this paragraph 7, with interest thereon, shall het:omr additional
<br />i~ of Hprrower sacuted by this Deed of Trust. Unless Borrower and Lerxler agree to other terms of payment, such
<br />atttouats shaft be payable upaa aotkx from Lender to Borrower requesting payment therrnf, and shall bear interest tram the
<br />tufts rklt wtxdd ~ contra fop ~ from erne to tittle an autstatxting princtpal under the Nate unless payment of inttrcst
<br />ry ppltcabk taw, in which event such artrounts shall bear interest at tfie highest rate
<br />~yp.bla~afzYaliGa#tfe taw, Nothin; cantaitted In this paragraph 7 shag require Lender to incur any expense or take
<br />~. Lcpdsr stay tootle ar cause to be made toax»wWa entrirs upon end impactions of the Property, pros idea
<br />t1r'r t.6.yt'h"_" btnr.~,.~,..~ n,;,tiM M+i.,. t•• =qy Y..s6 truce-.;,,,, .uecifyine reasonable cattle lherafar related to l.endrr's
<br />iptatsest In th! PtCrpa~P - - - - - - -
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