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<br />83--000~0~
<br />UNTFtNtM Covexnrtrs. Borrower and lender covenant and agree as follows:
<br />_l. Payment of Principal sari Interest. Borrowtr 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 />i Fnnds Eor Tam and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shalt 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 sttm (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 />ume to time by Lenrkr on the basis of assessments and bills and reasonable estimates thereof.
<br />77tt Funds shall be held in an institution the deposits or accounts of which are insurtd 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 />ar 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 Lendtr may agree in writing at the time of execution of this
<br />Dced of Trust that interest on the Funds shat! be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, fender shall not be required to pay Borrower any interest or eaminps on the Funds. Lender
<br />shall give to Borrower, without charge, an anneal accounting of the Funds showing credits and debits fo the Funds and the
<br />purpose for which each debit eo the Funds was made. The Funds are pledged as additional security for the sums secured
<br />by this Reed of Trust.
<br />If the amount of the Funds held by Lender, togither with the future monthly installments of Funds payable prior to
<br />the due dolts of taxes, assessmtnts, insurance premiums and ground rents, shalt exceed the amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />prompptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall no[ be sufficient to pay taxis, assessments, insurance premiums and ground rents as they fall due.
<br />Borsawer shall pay [o Lendtr any amount necessary tv make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borsower requesting payment thereof.
<br />Upon payment in fu}1 of alt sums secured by this Deed of Trust. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragrajsh 1g hereof the Property is sold er the Properly is otherwise acquired by C,ender, Lender
<br />shalt apply, no later than immediately prior to the sale of the Property or its acquisition by Linder, 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. Applitatan of Payments. Unless applicable law provides otherwise, alt payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall bt applied by Lender first in payment of amounts payable to Lender 6y $orrower
<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 />princtpa! on any Future Advances.
<br />d. Cha[ges; Lkt~. Borrower shall pay ail taxes. assessments and other charges. fines and impositions attributable to
<br />the Property which may attain a priority over this Detd of Trust, and leasehold payments or ground rents, if any, in the
<br />manner provided under paragraph 2 hereof ar, if not paid in such manner, by Borrower making payment, when due, directly
<br />to the pnyet 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 i..ender recei¢ts evidencing such payments.
<br />Borrowtr shall promptly discharge any Tien which has priority veer this Dced at Trust; provided. that Borrower shat) not be
<br />required to drxharge any such lien st, long as Borrower shall agree in writing to the payment of chi obligation secured by
<br />such litn in a mantur 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 of the hen or forfeiture of the Property or any part thereof.
<br />5, Hazard Insurantt. Borrowtr shall keep the improvements now existing or hereafter ertcttd on the Property insured
<br />against toss by fire, hazards included within the ttrm "extended coverage'', and such other hazards as Lender may require
<br />and in such amounts sad far such periods as Lender may require; provided, that Lender shalt not require that the amount of
<br />such eovtrage exceed that amount of coverage required is pay the sums secured by this Deed of Trost.
<br />The insuranct carrier providing the insurance shall be chvsen 6y Horrvwer subyect ro 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 wader paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />insurance carritr.
<br />A0 insurance policies and renewals thereof shalt be in farm acceptable to Linder and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. finder shall bout chi right to hold the policies and renewals thereof.
<br />and Borrower shall gramptiy furnish to Linder all renewal notices and all receipts of paid premiums, 1n the event of lass,
<br />Borrtraer shall give prompt notice to the insurance currier and Lender 1_ender may make proof of loss if not made promptly
<br />by Borrowtr.
<br />Unless Lendtr and Borrowtr otherwi~ agree in wrung, insuranet proceeds shall be applied to restoration or repair of
<br />the Property damaged. provided such restoration or repair is ecvnamically ieasibli and [he security of this Deed of Trttst is
<br />not thereby impaired. If such restoration or repair is not economically fcasttrle or d the security of this Detd of Trust would
<br />f>r impaired. the insurance proceeds shall be applitd to the sums secured 6y this shed of 'trust, with the excess, if any, paid
<br />to Borrowtr. If [he Property is abandoned by Borrower, ar if Burrower fails to respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrowtr that the insurance carrier offers to settle a claim for insurance benefits. Linder
<br />is authorized to evilest and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or to the attms secured by this Decd of Trust.
<br />Unitas Lender and Borrower othtrwisc agree in writing, any such application of proceeds to principal shall not extend
<br />or postpont the due date of the monthly installmtnts referred to in paragraphs 1 cud 2 hereof or change the amount of
<br />sue matallmtnts. If under paragraph 18 htreaf the Property is acquired by Lender, all right, title and interest of Borrower
<br />in atxl to any insurance policies and in and to the pra:teds thereof resulting from damage to the Property prior to the sale
<br />ar acquisition shall pass to Leader to the txtent oC the sums secured by this Deed of Trust immediately prior to such sale ur
<br />acgnisitioa.
<br />6. Prettuvselon ate MalNesanet of Ptuptr~t; LrasthoWs; Condominiums; Planned Ualt Developmtnts. Borrower
<br />shall keep the Proptny in goad repair and shall not commit waste ar permit impairment or deterioration of the Properly
<br />and shall comply with the provisions of any kayo if this Deed of Trust is on a leasehold. If this Dced of Trust is on a unit in a
<br />cottdattinium or a planned unit devtloprnent, Borrowtr shall perform alt of Borrower's obligations under the declaration
<br />Or CaYGOanta stooling or govtrning the condominium or planntd unit developrnen[, tht by-laws and regulations of the
<br />condominium or planned unit devefopment, and consutuent docutttents. If a condominium or planned unit development
<br />rider is exxuttd by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such rider
<br />shall bo ittt>arporatsd into and shall amend and supplement the cavenems and agreemtnts of this Deed of Trust as if the rider
<br />wort a part hera>L
<br />7. Pnt~iott of I.mier'a Seoarity. If Borrowtr faits to perform the covtnants and agreements contained in this
<br />Decd of Tttnt, ar if any anon of proceeding is commenced which mattriaily affects Lender's interest in the Property,
<br />including, but not limittd tv, emittat# domain, insolvtncy, cafe enforcement, or arrangements ar procerdings involving a
<br />bankrupt ar dtcedent, then Lendtr at Lender's oprian, upon notice to Borrower, may make such appearances, disburse such
<br />sums a[ul take such action as is necessary [a pratter Lender's imerest, including, but not limited ro, disbursement of
<br />roawttablt atttu»ey's tea and entry upon the Pxoptrfy tv make repairs, if Linder required mortgage insurance as a
<br />coadititat of tusking the loan setarrtd by ibis died of Trust, Borrowtr shall pay the premiums rtquired to maintain such
<br />itnsuattct !n ofitxa until tactic limo as Lhe requittmont for such insurance terminatts in accordance with Harrowers and
<br />Ltndtu'a writtta agteenttat or applicable taw. Borrowtr shalt pay the amount of all mvrtgage insurance premiums in the
<br />ntattner ?plod under pataYraPh 2 htrtof,
<br />ton ttt~asrnta disbursal by Ltttder pursuant to this paragraph 7, with inttrtst thereon, shat) Ixcvme additiunal
<br />indobt~ o{ Btutuwer aacuted by this Dad of TrusE. Urttess Harrower and Linder agrte to other terms at payment, such
<br />attiamle shrill be payable upon nvticx from [-ender to Borrewtr ttquesting payment thereof, and shall bear intertst from the
<br />claim #rt at thin raft payrtbtq from time tv time oa atAseattd'tng prinet¢al under tht Nott unless payment of mtetcst
<br />at >t-rata world ba contrary to sppiicabk law, in which event such an:ourtts xhall hear interact at tht higtrtst rate
<br />pia ttrxfa~ ~ law. NWhittg vvntsintd in this paragraph ?shat! require Linder to incur any expewt or teki
<br />any irttl4rt l[crattmd~`.
<br />~.: IMpMfe$~N:"'-1_endtr tatty make or taster ro be mado rtatsvnnalale cntrios upon arni rnspectiats of the Praptrty, provided
<br />tAai !xr>tiv stsatl gittt Borfo9rar nvtice prior w any such inspattian sptcifying ttsasoaabfe cattsi themfvr refuted to I.rndtr's
<br />irtlaestt3. to the. P's+uerttr.
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