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<br />UNIFOkM Covetvn[rrs. Borrower and Lender covenant and agree as follows: 83~- ~J G V (T+i =
<br />i. Prtyment of Principal sad Interest. Borrower shall promptly pay-when Jue 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 />art any Future Advances secured by this lleed of Trust.
<br />2, P'iuds for Tam and Itrsaraace. 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 under the Note, until the Note is paid in fill.
<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 horned insurance,
<br />plus one-twelfth of yearly premium installments far mortgage insurance, if any, all as reasonably estimated initially and from
<br />[[me to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall bt held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />stall agency {including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments.
<br />ir[surance premiums attd ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account
<br />or verifying and rnmpiling 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 on the Funds shall be paid to Borrower, and [mless such agreement is made or applicable taw
<br />regeires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. under
<br />shall give to Borrower, without charge, an anmtal accounting of the Funds showing credits and debits [o the Funds and the
<br />purpose for which rack debit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />6y this Deed of Trust.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payahle prior to
<br />the dtie dates of [axes, assessments, insurance premiums and ground rents, shall exceed the amount required in pay said taxes.
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />prompty repaid to Borrower ar credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held 6y Lender shalt not be sufficient to pay [axes, 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 al) sums secured by this Deed of Tnrs6 Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Propery is sold or the Property +s nthrrw•tsr acyuired by Lender Lender
<br />shall apply, no later than tmmed[a[ely prior to the sale of the Property or its acquisiion by Lender, any Funds held by
<br />[xnder at the time of application as a credit against the sums scarred by this Deed of Trust.
<br />3. Appiicatbn of Payments. Unless applicable law provides otherwise, all payments receive) by Lendtr under the
<br />Note and paragraphs !and 2 hereof shall he applied by [.ender first in payment of amounts payable [n t-ender 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. CfnarUes; Liens Borrower shall pay all taxes, assessments and other charges. fines and impositions auributable 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 Z hereof or, if not paid in such manner, by Borrower making payment, when due. directly
<br />to the payer 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 Lender receipts evidencing such payments.
<br />Borrower shalt promptly discharge any lien which has priority over this Deed of Trust; provided, that Hormwer shall not be
<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, nr shall in good faith contest such lien by, or Defend tnforerment of such Tien in.
<br />1 at pproceedings which o rate to prevent the enforcement of the lien or forfeiture of the Properly or any par[ thereof.
<br />~ 5. Horned Irtsuratstt. Borrower shall keep the tmprovemrms now esisung or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended coverage', and such other hazards as L.cnder may require
<br />and in such amounts and for such periods as Lcmkr may rtyuirr, provided, that Lander shalt nut require tha¢ the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured b}• this Deed of Tntst.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by !.coder: provided.
<br />tlra[ such approval shall not be unreasonably withheld. All premiums on insurance policies shall he paid in [he manner
<br />provides tinder paragraph 2 hereof or, if not paid in such manner, by Burrower making payment, when due, directly to the
<br />insUraotY Ca[rle[.
<br />All insurance policies and rer[ewals thereof shalt be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lendtr. Lender shalt have the right to ho1J the policies and renewals thereof.
<br />and Borrower shall promptly furnish to Lender alt renewal nnticts and all receipts of pail premnims. in the errnt of loss.
<br />Borrower shall give prompt notice to the insuranet earner anJ i.ender. (_ender may make proof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender ar[d Borrower otherwise egret in venting, insurance prcx:eeds shalt ht applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair is eeonomaally feasible and the security of this DeeJ of Trust is
<br />not thereby impaired. if such restoration or repair is rant ecnnomica6}• feasible or if the security of this Dred of Trust would
<br />br impaired, the insurance proceeds shah be applied to the sums secured 6y this Ue[:d oC'I7ust, with the excess, i[ any, paid
<br />to Borrower If the Property is abandoned by Borrower, or if &xrower fails to respond to Lender within 30 days from the
<br />date notice is mailed by i_ender to Borrower that the msuranct carrier offers to scale a claim for insurance benefits. Lender
<br />is authorized to collect and apply the insurance proceeds at l.e.^.dr: s option rnhet' m restoration or repair of the Property
<br />or to the sutras secured by this Dced of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such application ul proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to m paragraphs 1 and 2 hereof or change the amount of
<br />such mslallments, if under paragraph 18 hertrof the Property is acyuired by Lender, all right, title and interest of Borrower
<br />in and to any insurance policies and in and to the pnxtt~ds [hereof resulting Irom damage «t the Property prior to the sale
<br />or acquisition shall pass to Lender to the extent of the sums secured by this Deed of Trust unmediately prior to such salt or
<br />acquisition.
<br />6. Preservatfou and Mtdalennoce of Property; Leaseholds; Condominiuau; Planned Unil Developments. Borrower
<br />shalt keep the Property in good repair and shall moz coconut waste or prrn:u in[painnau or Jeterior:uion of the Properly
<br />and shall comply with the provisions of any tease if this Deed of Trust is on a leasehold. if this Died of Trust is on a unit m 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 [he condominium or planned unit development, the by-laws and regulations of the
<br />condominium ar planned unit development, and constituent documents. If a amdaminium or planned unit development
<br />rider is executed by Borrower and recorded together with this Deed of Trust, the wvenams and agreements of such rider
<br />she-1 br incorporated into and shalt amend and supplrmem the covenants and agreements of this Dced of Trust as iF the rider
<br />were a part hrr~f.
<br />7. 1!rotertloa of LeadePs Secwity. 1C Borrower tads in perform the covenants and agreements contained in this
<br />I?eed of Trust, ar if any action or proceeding is commenced which matcriatly affects [.enders intergt in the Property,
<br />indtafing, but not limited [n, eminent domain, insolvency, code enforcement, or arrangements nr proceedings involving a
<br />bankrupt or decedent, thou Lewder at Lender's option, upon notice to Burrower, may make such appearances, dishune such
<br />starts and take such action as is necessary to pro[tct Lender's imerest, including, but rant limned to, dishursememt of
<br />reasonable attorttey's foes and entry upon the Property to make repairs. if Lender required mortgage insurance a+ a
<br />condition of making the loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain ouch
<br />ingrtance in efhet up!il such time as the reyuiremeni for wch insurance tennmates in accordance with Borrower's anJ
<br />l.eadec's written agrrxtrtent or applicable law. Borrower shall ga} the amaunl of all mortgage insurance premiums m the
<br />manner provided under paragraph 2 hereof.
<br />Aayy amounts d'ubursed by L.ertder pttrsttant to this paragraph 7, with interest thereon. shall heeonee addi«onal
<br />ittdebtednrss of Borrower secttrtti by this Deed of Trust. T7nless Harrower and !.ender egret to other terns of paym[rnt, uieh
<br />antottnts shall be payabk upon nniict from L_tnder to Borrower requesting payment thereof, anJ shall liar interest from the
<br />date of disbursegaeat at the rate payable #rom time to tune on outstanding princpal under the Nole unless payment of interest
<br />a! ateeh rate would (x rontraty to applicable law, in which [vent such amounts shah brat uverest at the highest ratr
<br />perntiasi4te ttt[der applicable law. Nothing contained in this paragraph ?shall rcyuirt Lender to incur any expense or take
<br />arty action Itexeunder:
<br />8. ~grtpsflas. t..e[[der may make ur enlist to be made rraxrnatale entries upon anJ insprc«ons rat the Proprtt}', provtJeJ
<br />tluti Lender shah give Borrower natter prior to any such insptctiom specifying rrasnnab¢r cause thertint relate) to t ender',
<br />irttereat in the Protrmty.
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