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<br />UwFOant Covetvnnrs. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal slid Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by rho Note, prepayttunt and late charges as provided in the No[e, and the principal of and interest
<br />on any Future Advances secured by this Deed of Trust.
<br />2. Footle for Teas and Imaraace. Subject [o applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on-the day monthly-installments of principa[ and interest are payable under the Note, until [he Note is paid in full,
<br />a sum (herein "Foods'} equal to oaedwelfth 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, ail as reasonably estimated initially and from
<br />time t6-time-6y 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 nr guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an institutionD~ Lender shall apply the Funds to pay said taxes, assessments,
<br />irrsuranceprcmiums 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 tnterest 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 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 additiooal security for the sums secured
<br />by this Reed of Trust.
<br />ff 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, shalt exceed the amount required to pay sold 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. [f 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 [he 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 Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than tmmediately prior to the sale of the Property or its acquisition by lender, any Funds held by
<br />Lender a[ the time of application as a credit against the sums secured by this Deed of Trust.
<br />3. ApplicWbn of Payments. Unless applicable law provides otherwise, alt payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shat! be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, [hen to interest payable on the No[e, 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, assessmenu and other charges, fines and impositions attributable to
<br />the Property which may attain a priority over this Deed of Trust, and leasehold paymrn[s 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 tender all notices of amounts due under this paragraph, and in the
<br />event Borrower shall make payment directly, Borrower shalt promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Deed of Trust; provided, that Borrower 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, 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 lien or forfeiture of the Property or any part thereof.
<br />S. liiazard Insurance. Bormwer shall keep the improvements now existing or 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 and for such periods as Lender may require; provided, that Lender shall not require that the ^•>•ouni of
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Deed of Trust.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approve( by i_ender; provided.
<br />that such approval sha0 not be unreasonabty withheld. All premiums on insurance policies shall he paid in the manner
<br />provided tinder paragraph 2 hereof or, if not paid in such manner, by Borrower r..aking payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable to lender and shag include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lender shat) have the right to hoW the policies end renewals thereof.
<br />and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. ]n the event of loss,
<br />Borrower shall give prompt notice to the insurance carrier and Lender. Lender mxy 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 to restoration or repair of
<br />the Property damaged, provided such restoration or repair +s economically feasible and the security oC this Deed of Trust is
<br />not thereby impaired. If such restoration or repair is not economically feasible or i( 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 Borrower fails to respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier afters to settle a claim for insurance benefits. Lender
<br />is authorized to co0ec! and apply the insurance proceeds at Lenders option either to restoration or repair of the Property
<br />or to the sums secured lay this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such application o[ proceeds to principal shall not extend
<br />or postpone 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 IS hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resulting trom damage to the Property prior to the sale
<br />ar acquistrion shat! pass to Lender to the extent of the sums secured by this Deed of Trust immediately prior to such sale or
<br />acquisition.
<br />6. Preservation and Maintenance of Properly; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />shall keep the Property in good repair and shall not commn 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 shall perform ail of Borrower's obligations under the doclaratior.
<br />w covenants cresting or governing the condominium or planned unit development, the by-laws and regulations of the
<br />rnudominium or planned unit development, and constituent documents. It a condominium or planned unit developmem
<br />rider is executed by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such rider
<br />shad be inmrparaied into and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider
<br />were a part hereof.
<br />7. Protection of Leaders Security. If Borrower fails to perform the covenants and agreements contained in this
<br />Deaf of Trust, or if any action or protxeding is commenced which materially affects Lender's interest in the Property,
<br />including, but not limited to, eminrni domain, insolvency, code rn[orcement, or arrangements or proceedings involving a
<br />bankrupt or decedent, then Lender at Leader's option, upon notice to Borrower, may make such appearances, disbursr such
<br />sums and take such action as is necessary to protect Lender's interest, including, but not limited to, disbursement of
<br />teasowbk attorney's foes and entry upon the Property to make repairs. If lYender required mortgage insurance as a
<br />coadetion of making the town securai by this Dced of Trust, Borrower shall pay the premiums required to maintain such
<br />itisttratace id effect. until such lime as the requirement for such insurance terminates an accordance with Borrower's and
<br />Leader's written agrcemeai or apphcabk taw. Borrower shat! pay the amount of all mortgage insurance premiums in the
<br />riiatrtier provided under pa ph 2 hereof.
<br />Anyy ti:abottnts disbursed-by Lender pursuant to this paragraph 7, with interest thereon, shalt become additional
<br />inclabtixitstxs o~ Borrower secured by this Decd of Trust. Unless Borrower and 1_ender agree to other terms of payment, such
<br />airtotsttts shall fae payable upon notice from Lender to Borrower requesting payment therecL and shall facer interest !rom the
<br />date Cf ditsiwtaettiettt at the r1ta payable from tune to time on outstanding principal under the Note unless pnymem oC interest
<br />al attclt rate would be contrary [o applicable law, in which even[ such amounts shall bear interest at the highest rate
<br />permiasiWe uadet applicable law. Northing contained in this paragraph ]shall royuire Loader to incur any expense or take
<br />ar+Y a+Ktioq tttlrortader.
<br />f. ~ Londecmay make or cause to bo made reasonable entries upon and tmpectiuns of the Property. provided
<br />that I.otidet shalt give Borrower notice prior to any such inapeetion spoeifying reasonable cause thorcfor related to Cendrr's
<br />mtarau in she Pramnv.
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