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1!~t0090
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<br />Uroteoant CovewntvTS. Borrower and Lender covenant and agree as follows:
<br />1. Payenem of Prirrcipal sad 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 Noie, and the principal of and interest
<br />on anyy Future Advances secured by this Decd of Trust.
<br />2. Bands for Taxes atsd insoraett. 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 arc payable tinder the Note, until the Note 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 ooe-twelfth of pearly premium installments for hazard insurance,
<br />1 plus one-twelfth of yearly premium installments for mortgage insurance, if any, a6 as reasonably estimated initially and from
<br />s, - ume to time by Lender an 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 Leftder if Lender is such an institution). Lender shall-apply the Funds to pay said taxes, assessments.
<br />_ insurance premiums and ground rents. Lander may not charge For sa holding and applying the Funds, analyzing said account
<br />- or verifying and compiling said assessments and bills, unless Lender pays Borrower interest an the Ftmds 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 any interest or earnings on the Funds. Lender
<br />shall give to Barrewtr, without charge, agannuai atxounting 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 the 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 the}• fall due, such excess shah bt, m Borrower's oplion,- 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 shah 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 3o days from the date notice is mailed
<br />by Lender to Borrower regtrcsting payment thereof.
<br />Upon payment in full of a6 arms secured by this Lked of Tntst. Lender sha8 promptly refund to Borrower any Funds
<br />held by tender. if under paragraph 23 hereof the Propeny rs sold ar the Properly is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Prnperty or its acyuisition by Lender, any Funds held by
<br />Lender a[ tyre time of application as a credit against the sums secured by this Deed of Trust.
<br />3. Appiieatbn of Pavrnents, Unless :tppliwbfe law provides otherwise, all payments received by Lender under the
<br />Nott and paragraphs J and 2 hereof shall be applied by Lender first to payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, thin to interest payable ern [he No[e, then to [he prinapai of the Note, and then to interest and
<br />principal on any Fuhrre Advances.
<br />A. Charges; Lkas, Borrowtr shaii 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 leasehold payments or ground rents, if any, in the
<br />manner provided ender 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 ro Ltnder aI! notices of amounts due under this paragraph, and in the
<br />tvtnt Borrower shall make payment dueetly, Burrower shall promptly furntsh to !.ender receipts evidencing such payments.
<br />Borrmver shelf promptly discharge an}~ [i.n which has priority over this Dted of Tnrxt; provided, that Borrower shall not be
<br />requred io discharge nny such lien so tong as Borrower shat) agree m writing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lendtr, ar shalt in goad faith cnatcst such ben hy, er defend enforcement of such lien in.
<br />Itgal pproceedings which operate ua prevent the entotcemcnt of the lien ar forfeiture of the Properly or any part thereat.
<br />S, tilaxard hfwraatt. Borrower shall kelp the improvements now existing or hereafter erected on the Property insured
<br />against sass by fire, banrdx included within the term "rxtendtd coverage°, and ouch other hazards as Lender may require
<br />and in wch amaun[s and tot such peritxis as Lender rnav regwre: pravrded. that Ltnder shall nut regwre that the amount at
<br />such eavtrage exeetd that amount of covcragt reyurrad to pay rht sums secured by this Dted of Trust.
<br />Tht insunner carrier prey;ding the insarunee shall tx chosen by Borrowtr subject to approval by t tulle r. provideJ.
<br />that sfxh approval shag not tee unreasonably withheld. All premiums on insurance policies shalt he paid in the manner
<br />provided under purayrapb 2 htrtof or, if not paid in such manner, by Borrower making payment, whin ..t, directly to the
<br />rnstlratice artier.
<br />AB insurance paliciu and renewals thtreut shall tee in feent actcptabie to Ltnder and shall hnlude a standard mortgage
<br />clause in favor of and ir. form accep~ahic tar Ltnder t ender ,hull have the right to haW the pcditits and renewals thereof.
<br />and Borrowtr shall promptly furnish to I_endrr all rc•rew ai notti.e, «tnJ idt n_-ctptz of paid premiums. In the event of loss,
<br />Borrowtr shat! gtve pttrrnpi notitt ur the insuran x ~atrttr and Cruder. Lender ma}~ make proof of lass if not made promptly
<br />by Btxrower.
<br />Unkss L.em~r neat Borrower ethrrwrse agree in w-ru neg. insurance prreetds .,hob tit appbed to rtstarutfon or repair of
<br />the Property damaged, provided web rrstorauon ur eepoir r, tcononucatir tensible :end the Security of this Dent of Trust is
<br />not thereby tmparred. ILsucR restoralran or repair rs r*ot eaawmically itasiblt ar st the security of this IJeed aF 'beast would
<br />be imparted, the insurance prcxetds shah hc- appbeal ra the sum, stores! by this Used of Trust, with the excess, if any, patJ
<br />to Borrowtr. If the Property rs abandarrea by Barrowrr, or if Bon~uwtr (ails to respond to Lendtr within 3Q days from the
<br />date noute is mailed by Lendtr to Borrower !trot the msuranec earner olfcrs to -settle a c!atnt ter insurance txnefits, tender
<br />is autinsrtztd to cuilecl and apply' the insurarnt ptcx~reds at i.trtdcr's option ether to restoration ar repair of the Property
<br />or tt iht sums sftured by this Devi of Trust.
<br />Unkss [.ender and Borrower othtrwrst agree m writing, any such applieatwn a[ proceeds ur principal shall not extend
<br />ar postpone the dot date of the monthly installments rrterreil to to paragraphs I and 2 hereof ar change the amount of
<br />sttc}r installments. If under paragraph t 8 hereof the Properly is aeyuirtxi by Lender, ;dl tight, title and interest of Borrower
<br />in and to any inwrantt poltcits and m and to the pro:retis tFtercof rcwlung Irom damage to the Property prior to the sale
<br />or acyuisition shall pass to Larder to the extent of the. wins secureil by this L1eed of "Trust immedmtely pnor to such sale er
<br />acquisition.
<br />ti. Preservation and Maioleaance of Property; Leacrhnids; Condominiums; Planned Unii llevelopments. Borrower
<br />shaft ketp the Property in gaud rtpau and vtta{I not cr+mmit wrste or (q.raut impatnnent ar Jeterioration of the Property
<br />anti shall comply wuh the pravistans of any lease rf this Deed of Trust r, eu a Itasehold, tt this C7eed of 'Dust rs on :: unit in a
<br />condominium ar s ptanrttd unit devttopnttnt, Harrawex shall prdarm ap o[ Borrower's obbgauons under the declar !ton
<br />nr a>verwnts crcrung ar governing the condormnknn nr planned aria dtvntopment, the by-laws and regulations of the
<br />rnndomiaium ar ptaaned unit drvek+pment, and mrsgtuem dax:umrnts. It a rondrmtinium or planned unit dtvelepnrern
<br />rider is txetuted by Borrower and eaco:Jed together wuh thu Drtd of 7 nest, the covenants and agreements .+f such rider
<br />shah ba itfairpatated into and shall amend and supplement the :i+renunts anJ agreements u( this t?ted of 77thr as i( the rider
<br />wort a part herwf.
<br />7. Ptotcetioa of Lender's Security. if Borrower fails ur perform the covenants anJ agreements contained in this
<br />t]esd of Trust, ar if any action or praxtding is commenced which matrnall}' affects Lender's interest in the Prapeny,
<br />ineittdiag. but not timiitd to, emmtnt dame+n, insolvency, cede enforcentem, er arrangemenu or proceedings involving a
<br />hattktupt ar dex°edent, then Lendtr at Lender's option, upon notice a? Barrowrr, may make such appearances. dnhurse wch
<br />wins and take sutlr action as is necessary to protect tender's interest, ircludmg, taut not bmiltd tu, dishursemunt of
<br />rtssottabk attortxy's fats and entry upon iht Properly to makt repaixs If Lender required cuutgage insurance as a
<br />cuttdaAOn of making the loan secured t:y this Cktd of Tntxt, Borxowcr shalt pay the premiums required [n ruaintain such
<br />rtf5ttritfce in eBtG until such Gme as the requircmtnt far such inwrance ttrmirtates in a+;eoetianct wuh Borrower's and
<br />i-ar~ar`s written agrte3itettt or applicable law. Barrowrr shalt pay- the arnoam of ail martgago insuranec premiums m the
<br />mount[ pruvidtd uruLcr pangra 2 hertxef.
<br />Anp tttttuun[a diaburscd b}~Ltndtr pursuant to ihts paragraph 7, with inttrtst thereon, shalt t,ecanx addiuanat
<br />xndelxtadsla><s of Borrowtr sxurtd by this Tktrt of Trust. {inlcas Botrmvtr and Lendtr agree to other terms of pay=rot-nt. aaeF;
<br />ii.-, arrwunfs shaii Lsa Payabk upset rrotrc~ fttrm Ltrtdar to Borrowtr rtqutsting payment iherto(. and shall hear mtertat lento ;he
<br />dolt of dllaisp[sartttttt at fha rite payable from times to Iirnt an trutstatrding l+nneipal under the Notes units payment nl' inttrcsr
<br />at aucFt xatt would be contrary to appltcarik law, in wMeh evam such artx3unts shall hear mttrest at the highest rate
<br />ptrmi~ib#i ruttier applicable law. Nothing tantaintd in this paragraph 7 .hats require Lendtr to incur any expense ar [akt
<br />any action htteunda.
<br />i boa, t,attdtx may rook! or coots to tit malt reasaaabk mines upon anG snspc.curau of the Props ri t', pt ovidrd
<br />sitar Lttrdpr slfnll gyve t3ortowrr nata:a pnor is any stti:h oupra:Utxt apecsfyiny rtasonabtr coast thcretot rrlattJ to i cncftr"s
<br />ttttefaat Fn 268 ProotrtY.
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