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<br />~~ ~ ~~0172
<br />Uxtt=oant Covexexrs. Borrower and Lender covenant and agree as follows:
<br />.1. Payment of Principal aad Interest. Borrower shell 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 />Z. Panda fea• Tatcea asd Isnatance. Subject to applicable-law or to-a written waiver by Lettdet, Bortawershall pay
<br />to Lender on the day montbly installments of principal and imerest are payable under the Note, until the Note is paid in fuB, -
<br />a sum (herein "Funds") equal io one-twelfth of the yearly taxes and assessmenu which may attain priority over [his
<br />Deed of Trust, and ground reins on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium instaliments fo: mortgage insurance, if any, all as reasonably estimated initially and from
<br />tithe to time by Lender on the basis of assessments and bills and reasonable estimates tfieteof.
<br />The Funds shall be held in an insfitution the deposits or accounts of which are insured or guarameed by a Federal or
<br />state agency jincludingLcnder if Lender is such an institution}. Lender shah apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Fends; analyzing said account
<br />or 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 Lender may agree in writing at the time of execution -of this
<br />Deed of Trust that interest on the Fonds shalt 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 io 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 additional security for the soma secured
<br />by thrs Deed of Trust.
<br />If the amount of the Funds herd 6y Lender, together with the future monthly installments of Funds payable prior to
<br />the due dales of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessmenjs, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower nr credited to Borrower on monthly installments of Funds. if the amount of [he Funds
<br />held by Lender shall not be sufficient to pay taxes. assessments, insurance premiums. and ground rents as they fall due.
<br />Borrower shat! pay to Lender any amouat 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 {all of alt sums secured by this Deed of Trust, lender shall promptly refund to Borrower any Funds
<br />Geld by Lender. If ender paragraph !g hereof the Propery is sold or the Property rs otherwise acquired by Lender, Lender
<br />shall apply, no later than tmmedtately prior to the sale of the Property 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 Dced of Trust.
<br />3. Appikation of Payments. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shelf he appfled by Lender first in payment of amountr payable to Lender by Borrower
<br />under paragraph 2 hereof. then to interest payable on the Note, then to the principal of the Note. and then to imerest and
<br />principal an any Future Advances.
<br />4. Charges; Lieffi. Borrower shaft pay all taxes. assessments and other charges, fines and impositions attributable to
<br />the Property which may attain a priority aver this Dced of Tn~st. and leasehold payments ar ground rents, if any, in the
<br />manner provided under paragraph 2 [recent or, if not paid in such manner, by Aorrower making payment, when due, directly
<br />[o the payee thereof. Borrower shat! promptly furnish to 1_ender all notices of amounts due under this paragraph, and in the
<br />event Borrower shall make payment directly, Borrower shall promptly furnish to fender receipts evidencing such payments.
<br />Borrower shalt 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 lung as Borrower shalt 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 pproceedings which operate to pmvent the en[orcement oC the lien or forfeiture of the Property or any part thereof.
<br />5. H Ioaurame. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against toss by fire, hazards included within the term "extended coverage". and such other hazards as Lender may require
<br />and in such atrtoirnts and for such periods as Lender Wray require: provided, that Lender shall not require that the amoum of
<br />ouch coverage exceed that amount of coverage reyuired to pay the sums secured by this Deed of Trust.
<br />The insurance carrier providing the insurance shah be chosen by Borrower subject to approval by Ltnde+ c..iwided.
<br />lbat such approval shall not be unreasonahly withheld. .411 premiums on insurance politics shall be paid in ti,e manner
<br />provided under paragraph 2 hheeof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renewals thereof shalt be in form acceptable to [.ender and shall include a standard mortgage
<br />clause in favor of and in form acceptable ro Lander. Lender ;hall have the nght to hold the policies and renewals thereof,
<br />end Borrower shalt promptly furnish to Lender all renewal noticzs and all receipts of paid premiums. In the event of lass,
<br />Borrower shall give prompt notice to the insurance earner and Lender. Lender may make proof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in wrung, insurance proceeds shall be applied to restoration or repair of
<br />the Prapert}• damaged, provided such restoration ar repau is eaunamizall_v fcasihln and the security aC this Deed of Trust is
<br />trot thereby imparted. tf such restoration or repair is nut economicaltt' feasible ur if the security of this Deed of '1-rust would
<br />be impaired, the insurance proceeds shall be applied to the sums scented by this Deed of Trust, with the excess, if any, paid
<br />to tlorrawer. If the Property is abandoned by Borrower, nr if Borrower fails to respond to Lender within 30 days from the
<br />date notice is mailed 6y Lender to Borrower that the insurance can~ier otters to settle a claim for insurance benefits, [.ender
<br />is authorized to coilett and apply the insurance proceeds at (..ender's option either to restoration or repair of the Property
<br />or to the sums secured by this Deed of Ttvst.
<br />Unless Ixnder and Borrower otherwise agree in writing, any such applicators oC proceeds to principal shall not extend
<br />or postpone the due date of the momhly installments referred to m paragraphs 1 and 2 hereof ar change the amount of
<br />such instaliments. if under paragraph 1 F hereat the Property is acquired by Lender, alt right, title and interest of Borrower
<br />in and to any insurance policies and in and to the pros:eeds thereat resulting from damage io the Property prior to the sale
<br />ar acquisition shall pass to Lender to the extent of the sums secured by this Deed of Trost immediately prior to such sale or
<br />acquisition.
<br />6. Preservation stud 1NaFolenance of Property; I,easehoMs; Condominiums; Planned Unit llevelopments. Borrower
<br />shalt keep the Property in good repair and shat! nut commit waste ur permit impairment or deterioration of the Property
<br />and shalt comply with the provisiotts of any lease if this Dced of 77ust is on a leasehold. if this Dced of Trust is on a unit in a
<br />cordominium or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration
<br />ar vvenants creating or governing the condominium er planned unit development, the by-laws and regulations of the
<br />condotttrnium or planned unit development, and constituent documents. If a condominium or planned unit development
<br />rider is executed by Borrower and retarded together with this Deed of Trust, the covenants and agreements of such rider
<br />shall be iorbrporated into and swill amend and supplement the covenants and agreements of this Deed o[ Trust as if the rider
<br />ware a part hereof.
<br />7, Protecfbn of Lender's Security. if Borrower fails to perform the wvenants and agreements contained in this
<br />Decd of Trust, or if any action or proceeding is commenced which ma[eriaily affects Ixnder's interest in the Pn+perty,
<br />including, but hat limited to, eminent domain, insolvency, cafe enforcement, or arrangements or proceedings involving a
<br />bankrupt or detralent, tbsn Lender st fender's option, upon notice to Borrower, may make such appearances, disburse such
<br />aurae and take sash action as is necessary eu protea.t Lenders interest, including, but not limited to, disbursement of
<br />rtasotrabk attorney's tees and entry upon the Property to make repairs. If Lender reyuired mortgage insurance a, a
<br />cgndidon of making the }oars scrotal by ibis Deed of Truer, Borrower shall pay the premiums reyuired to maintain such
<br />imnrance is e5ect until such time as the r«Iuirement for such insurance ternunates in accordance with Borrower's and
<br />fender's written ngreetnent ar applicable law. $arruwer shaft pay the amount of a!i nwngaga insurance premiums in the
<br />maatrer provided under paragraph 2 herarf.
<br />Any atnuuats tiislatrsed by Lender pursuant to this paragraph ?, with interest tharevn, shelf become additional
<br />inddntxlneas of Harrower aecwed 6y this 13,xd of Trust. unless Borrower and Lender agrtee to other ternu of payrncnt, such
<br />attiaitpts shall 6c piryabk upon rnriice Pram I_cnder to Borrower requesting payment thereof, and shall bear interest tram the
<br />dtdC u[ r#s6uracmcnf at ilte tale payable firm time to time an autsianding principal under the Nuta unless payment of interost
<br />rt welt rata would be znnfraxy to applicable taw, in whicir event snch amounts shall bear interest at the highest rate
<br />ptrmiariWe under applicable law. Nothing contained in this paragraph ?shaft require Lender to incur any expense ar take
<br />soy afG,i+t bercunder.
<br />3. #q~pecf4a. Landes may° make or cause to be made retrscrnabtc-cntrtes open and inspecnons of the Property, rovrdr;rl
<br />that lctrriar stroll diva Borrower notice prior to any such iuslrvrtiact sptsifying reasonable cause therctat related s+ ~ ender `a
<br />,ndarrut itt !ba ProoCiip.
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