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<br />83- \)(;1008.
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1.. Payment of Principal and Interest. Borrower shall promptJy pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and laic charges as provided in the Note, and Ihe principal of and inte,est
<br />on any Future Advances secured by this Deed of Trust.
<br />2. FamIs for Taxes and Insurance. Subject to applicahle law or to a wrilten waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly installments of principal and interest are payable under Ihe Note, until the NOle is paid in full,
<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 hazard insurance,
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time 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 arc insured or guaranteed hy 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, lInless 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 unless such agreement is made or applicable law
<br />requires sllch interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds, Lender
<br />shaH give to Borrower, without charge, an annual accounting of the Funds showing credits and dehits 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 Ihis Deed of Trust,
<br />If the amount of the Funds held by Lender, logether with the future monthly installments of Funds payable prior rn
<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 fall due, such excess shall be, at Borrower's option. either
<br />promptly repaid to 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 hy Ihis Deed of Trust. Lender shall promptly refund to Borrower any Funds
<br />held by Lender, If under paragraph 18 hereof Ihe Property is sold or the Properly IS otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the ProperlY 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 1 and 2 hereof shall be applied by Lender first in payment of amounts payable 10 Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the NOle, Ihen to the princ'pal of Ihe Note, and Ihen to interest and
<br />principal on any Future Advances,
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments and other charges. fines and impositions attributable to
<br />the Property which may attain a priority over this Deed of Trust. and lea.'\chold 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 to Lender receipts evidencing sllch payments.
<br />Borrower shall promptly discharge any lien which has priority over this Deed of Trust: provided, lhat Borrower shall not he
<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, or shaH in good faith contest slIch lien by, or t..Iefend enforcement of such lien in.
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />s. Hazard Insuraa<<:. Borrower shall keep the improvements now existing or hereafter erected 00 the Properly insured
<br />against loss by fire. hazards included within the term "ex.tended coveragc". and ~uch other hazards as ~.cndcr may rcquire
<br />and in such amounts and for such periods as Lendcr may require: provided. that Lenuer shall not require that the amount of
<br />such coverage exceed Ihat amount of coverage required 10 pay the sums secured by this Deed of Tnlst.
<br />The insurance carrier providing the insurancc shall be chosen by Borrower subject 10 approv:11 hy Lender: provided.
<br />that such approval shall not be unreasonably withheld, All premiums on insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in sueh manner, by Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable 10 Lemler and shall include a standard mongagc
<br />clause in favor of and in form acceptable to Lender. Lender shall have the right to hold Ihe policies and renewals thereof,
<br />and Borrower sball promptly furnish to lender all renewal notices and all receipts of paio premiums. In the event of loss,
<br />Borrower shall give prompt notice to the insurance carrier ano Lender. Lemler may make proof of loss if not made promptly
<br />by Borrower,
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied 10 restoration or repair of
<br />the Property damaged~ provided such restoration or repair is t.."\:onomically feas.ible :md the securilY of this DeetJ of Trust is
<br />not thereby impaired. If such restoralion or repair is nOl cconomically feasible or if the sC\:urity of this Deed of Trllst would
<br />be impaired. the insurance proceeds shall be applied to Ihe sums secured by this Deed of Trust~ with the C'XCCSS, if any. paid
<br />to Borrower. If the Property is abandoned by Borrower~ or if lJorro\\"cr fails to respund to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that Ihe insurance carrier offers to settle a daim for insuran(;c benefits, l.ender
<br />is authorized to collect and apply the insurance proceeds at Lender's oplion 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 applicalion of proceeds to principal shall not ex lend
<br />or po,stpone the due date of the monthly installments referred to in paragraphs I and 2 hereol or change the amount 01
<br />such ,"stallments, If under paragraph I ~ hereol the Propert~ IS acquired oy l.ender, all right, title and interest of Borrower
<br />in and t~.~ny insurance policies and in and 10 the procC\..~s thereof res.ulling from damagc 10 the Property prior to the ~mlc
<br />ur a,:q~~slllon shall pass '0 Lender to the extent of the sums secureu by Ihis Deed of Trust immediately prior to ~uch sale or
<br />acqUISition,
<br />6. Preservation and Malntellllllce of Properly; Lea'iCholds; Condominiums; Planned Unit Developments. Borrower
<br />s.hall keep the Property In good repair and shall not commit v.aste llr pcnnH in1pairnH.,'nt llr dctcrillralilln nf the Properly
<br />and shall comply with the provisions of any lease if this Deed of Trust is on a Icasehold. If Ihis Deed of Trusl i~ on a unit in a
<br />condominium or a planned unit dc\'clopmenl. Borrower shall pcriorm ~tll of Borrower's obligalions LUH..Icr the declaration
<br />or cove~a.nts creating or go,:crning the condominium or planm.'rl unil development, the by.laws and reguJations. of Ihe
<br />c~nd~mlmum or planned unat development. and constituent documents, If a condominium or plann('d unil development
<br />rider IS ~xecuted by ~orrower and recorded together wilh this Det..~ of Trust, the covenants ~,"d agrcemenlS of such rider
<br />shall be Incorporated mlo and shall amend and supplement the covenants and agreements of Ihis Dt..~d 01 Trust as if the rider
<br />were a part hereof.
<br />7. Protection of Lender's Sec:uritl. If Borrower fads to perform the covenanls anJ agreements contained in this
<br />Deed of Trust~ or if any action or proceeding is commenced \vhich materially atTects Lenuer's interest in the Property,
<br />including. but not limited to, eminent domain. insolvency, code cnfore-ement, or arrangements or procecding~ involving'a
<br />bankrupt or decedent, t~n Lender at Lender's option. upon notice 10 Borrower. may make sueh appearam:cs, disnursc ~uch
<br />sums and take such acllon as is necessary to protect Lender's interesl, including. ~ut OlH limited to, di~hur::.cmClH ill
<br />r~n.ahJe aUorn~y's fees and entry upon the Property to fna~e repairs. If L.ender rC4uircd mortgage insur..Hll.'C a, a
<br />condition of makmg Ihe loan secured by Ihis Deed of Trust. Borrower shall pay the premiums rC4uired to maintain ~l1~:h
<br />insurance in effect until such time as the requiremenl for such insurance lcrminatcs in accordance with fJorrower\ and
<br />Lcnder~s wri~ten agreement or applicable law. Borrower shall pay the amount llf aU rnorlgagc jn~urant.:e prcmiullb ill thl'
<br />manner proVIded under paragraph 2 hereof,
<br />. Any amounts disbursed by Lender pursuant to this paragraph 7, wilh illten:st thereon. shall PCl:lHnl..' aJthlh,\l1i!1
<br />mdebtedness of Borrower secured ~y this Deed of Tru!lot. Unless Borro~er and l.cnder agree tn other tc.;ffllS of paym~nt, slti.:h
<br />amounts shall be payable upon ootK'e from lender to Borrower rcquestlOg. paymcnl thereof, and shall hear intcrc~t ll"wn the
<br />date of disbursement at the rate pa)'able f.rom time 10 .time t~n outs.tanding prinl.:ipalundcr the Ntlte unless payment of intl'fC'~1
<br />at su~h, rate would be contrary to applicable taw. In whh:h event such amounh "hall hear interest al the highc-:\t rate
<br />permlss.'ble under applicable law, Nothing contained in this pamgraph 7 sh,tlt require Lender to incur .lIlY l'xpcnsc (lr take
<br />any acllon hereunder,
<br />.... laspectlon: tender may m~kc or yau'S.C' to be ma~e reasi~l1ablc cl~ln~s llp~)n illld lJl\{'H.:'I..tions of lhc J)f(l~lCrty, Pf\\\ idt..'d
<br />~ha' L.cn.der shalllJVe Borrower nOllce prior to an)' such mspeclli,)n speCifYing re:lSon':lnle I.',-W>;l' thcrcfl\f fl'l'-lh,,~d 10 11."1H.lt.'I'"
<br />.nterest '" tbe Propenv,
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