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I 83-00 12 :,:~ UN'FORM CovENANTS, Borrower and Lender covenan' and agree as follows: I. ~ of Prlad,.. ..... Inleftllf. Borrower shall promptly pay when due the principal of and interest ~n the indebledness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest on any Fulure Advances secured by this Deed of T rusl. 2. .,....,or Taxa ....'-n. Subjecl 10 applicable law or to a wrillen waiver by Lender, Borrower shall pay to Lender on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full, a sum (herein "Funds") equal to one-twelfth of the yearly taxes and as.oes.oments which may attain priority over this Deed of Trust, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance, p1usone-twelfth of yearly premium installments for mongage insurance, if any, all as reasonably estimated initially and from time to time by Lender On the basis of assessments and hills and reasonable estimates thereof. T11e Funds shan be heJd in an institution the deposits or accounts of which are insured or guaranteed by a Federal or state agency (including Lende, if Lender is such an institution), Lender shall apply the Funds to pay said taxes, assessments, insurance premiulJI5 and ground rents, Lende, may not charge fo, so holding and applying the Funds, analyzing said account or verifying and compiling said assessments and bills, unless Lender pays Borrower interest On the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may agree- in writing at the time of execution of this Deed of Trust that interest on the Funds shall he paid to Borrowe" and unle.. such agreement is made or applicable law requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds, Lende, shan give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made, The Funds are pledged as additional security for the sums secured by tbi. Deed of Trust. If the amount of the Funds beld by Lender, together with the future monthly installments of Funds payable prior to the due dates of taxes, assessment~. insurance premiums and ground rents, shall exceed the amount required, to pay sajd taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option; either promptly repaid to Borrowe, or credited to Borrower on monthly inslallments of Funds. If the amount of the Funds held by Lender shall not be .sufficient to pay taxes, as...;es-~ments, insurance premiums and ground rents as they faU due. Borrower shall pay to Lender any amoUnt necessary to make up the deficiency within 30 days from the date notice is mailed by Lender to Borrower requesting payment thereof. Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any Funds held by Lender, If under paragraph 18 hereof the !'ropeny is sold or thc Property IS otherwisc acquired by Lender, Lender shall apply, no later than immediately prior to the sale of Ihe Property or ilS acquisition by Lender, any Funds held. by Lender at the time of application as a credit against the sums secured by this Deed of Trust. 3.. Applicadon of Payments.. Unless applicable law providcli otherwise. all payments received by Lender under the Note and pa,agraphs 1 and 2 hereof shall be applied hy Lender first in paymenl of amounlS payable to Lender by Borrower under paragraph 2 hereof. then to interest payable on the Note. then to the principal of the Note. and then to interest and principal on any Future Advances. 4. Cbarps; Lieas.. Borrower shall pay all taxes, assessments and other charges. fines and un positions attributable to the Property which may attain a prio'ity over this Deed of Trusl, and leasehold payments or ground rents, if any, in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish to Lender all nollces of amounts due under this paragraph, and in the event Borrower shaU malte payment directly, Borrower shall promptly furnish to Lender receipts evidcncing such payments, Borrower shall promptly discharge any lien which has priority over this Deed of Trus!; proVIded, that Borrower shall not he required to disc-harge any such Hen so long as: Borrower shall agree 10 writing to the payment of the obligation secured by s.uch Hen in a manner acceptable 10 Lender, or shall in good faith comes! such hen by. or defend enforcement of slIch lien in. legal proceedings which operate to prevent the cnforcement of thc Irell or forfeiture of the Properly or any part thereof. 5. .HaanI~. Borrower shaU keep the Improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended i.:overagc". ~lnd ~uch other hazards as I.cnder may require and in such amounts and for 3uch periods a." Lender may require; provided, that Lender ~hall not require that the amount of such cove{"age exceed that amount of coverage reqUired to pay the sums ~ccured by thIS Deed of Trust. The insurance carrier pro\'lding the insurance shall he chosen by Borrower s.ubject to approv.,) by Lender: providec..l. that such approval shall not be unreasonably withheld. All premiums on insurance policies shall he paid in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the insurance carrier. AU insurance policies .and renewals. thereof' shall be In form acceptable to Lender and shall include a standard mortgage clause. in favor of and in form acceptable lO Lender. Lender s.haH have the nght to hold the policies and renewals. thereof. and Borrower shall prompt-ly furnish to Lender aU renewal nut ices and all receipts of paid premiums~ In the event of Joss. Borrower shall give prompt notice to tbe insurance carner and Lender, Lender may make proof of loss if not m~lde promptly by Borrower, Unlas Lender and Borrower otherwise agree in writtn.8, msurance proceeds ~hall be applied to restoration or repair of the Property d~ provided such restoratton or repJur I~ economIcally feasihlc and the security of this Deetl of Trust IS not thereby impaired. if such restoration or repair is nol economically feaSible 0( if Ihe security o[ this Deed of Trust would be impaired, the insurance proceeds shall be applied to lhe sums secured by Ihis Deed of Tn"t, with the c<cess, if any, pai.t to Borrower. If the Property l'i abandoned by Borr()w~r. or if Borrower fails 10 respond 10 Lender within 30 days from the date 001l<< is. mailed by Lender to Borrower that the msurance carrier offers to ~ettie ~t daim for insurance benefits. Lender is authorized to collect and apply the insuraooee proceeds at L.ender's oplion either to resloration or repair of the Property or to the sums secured by this Deed of Trust, Unleu Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shall not extend or postpone the due date of tbe monthly installments referred 10 10 paragraphs I and 2 hereof or change the amoUnl of such installments, If under paragraph I X herellf Ihe Property is acquired bv Lender, all ri.ht, tiUe and interest of Borrower in and to any insurance policies and in and to Ibe proc~s thereof resultlO'g trom damage'to Ihe Property prior to the sale or acquisition shall pass 10 Lender to the ex.tent 0-1 the sUms. secured by this Deed 01 Trust immediatel)' pri-or to such sale or aequisi.tioD, 6. Praerv....... MataleJuuoce of Property; u,asdtoJds; Condominiums; Planned Unit Developments. Borrower shaH keep the Property m gooti repair and shall no~ commll wasle l)r penHll impairm\.'flt \.If dclcril}ralion of the Property and shall cqmpiy with the provisions of any lease if this Deed of Trust IS ,lI1 a leasehold. If this Deed of Trust is on a unit in a condominium or a planned unit development. ~rrower shaH pedorm. .'III of Borrower's obligations under the declaration or covenants creating Of go~ernlng the ~ondomlnium or planned unll development. the by~laws i.lOd regulation~ of the coodomin.ium Of planned unit development, and constituent documents. 1 f a condominium ur planned lInlt development rider is. exeeu~ by Borrower and rec-crded together with this Deed of Trusl, the covenants and agreemenls of such rider shalt be incorporated into and shall amend and supplement the covenant-. and ..greements of rhis Deed of TrulJt as if the rider _ a part. hereo(, 1. ....... of LeIMier'~. Sec=lIritY4 If Borrower fa.lls to perform the covenants and agreemenh contained in thi"i ~ ~ Tf'tJS~ Of J.e ~y actIOIl.Of pcoceed!ng.Is commen\.'-td which materially affeclS lender':) intcre~t in Ih~ Property, mcludiQa. but not luni-ted to. eminent domam. Insolvency, code enforcement. or arrangements or proceedings Involving ;:1 bankrupt Of decedent.. then Lender at Lender's option, upon notlce to Borrow~r. m~y make such appearances, dishurs.... .<ouch sums and take such .action as is necessary to protect Leoder"s interest. including, but not limited to. dis.bur\~fHcnt of ~ a.ttor~y's fees.. and entry upon "the Property 10 make repairs_ If Lender reQuirt.~ mQrtgage in~UfalKe a'$ .t ~~. of makUta the loan -secured by thas Deed of Trus1. Borr{)wcr ~hali pay the pr~miums re14uircd to maintaul \U4:h t~ jft. C<<ec. liI1-ttl such time- u the requ~rement for such insurance terminates in accordance with Borrower.... and ~'I ~ apccmcmt or-appikabJe. law. Borrower shaH pa)' the .amount of all mortgage insurance prclniums in the n_ provided unQu paraarapb 2.bereot Aoy-. ~ _ditbutsed by Lender punlUant to' ,hi~ pafagraph 7, with interest I hereon. :-haU become additional j~of Bofruwer _ured by tbi< Deed of Ttu>t. \Jnles. Borrower antll.ender agree to other Icrms of payment. StIch ___ aha" be ~ upon II<>t<<:<olrom Lender to Borrower reque",i"g payment thereof, and ,halt be" inte""'l irom .he .......(>, ~ at tbcl'll\e payable from time to time on outstanding prlOcipal under the NOle ulIl""s payment of interesl atllUfh r.... l\lOllld be c_.1)' to aPPl",..ble law, ill which event StICh amounts. ,hall hear IOter",t at the highe't rate ~ ~ *pplicabllllllW, NothUlI cuntamed in thl> pan....aph 7 shall requltc Lender to Illc"r any e<pense (It takc ...,..~ '--dff, _ L ~ l~ may ~~ Of ,~lf-me to be ~ tea)\")nable ~~lries. tlpt.""lU and m'peu.I~)fis of the Propel1y, pt"iwided mat~roblill.."" Bol'_ _0<< ptl<>r '" .ny ouch IIIO"""I",n o-".f-inl reaS01l.lbk "'".'" theretor relaled '" I ,'nd",', ....i..tlw~. ..- , .... .