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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />,1. Paymeat of Principal and Interest, Borrower shall promptly pay when due the principal of and interest on' the
<br />indebtedness evidenced by the Note. prepayment and laIc cbarges as provided in the NOle. and the principal of and inlerest
<br />on any Future Advances secured by this Deed of Trust.
<br />2. Fun'" for Taus and Insurance, Subjecl to applicable law or to a wrillen waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly installments of principal and interest arc payable under tbe Note, until the Note is paid in full,
<br />a sum (herein "Fund,,") 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 are insured or guaranteed by 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. 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 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 wbich eacb debit to tbe Funds was made. Tbe Funds arc pledged as additional security for the sums secured
<br />by rhis Deed of Trust.
<br />If the amount of Ihe Funds held by Lender, together witb the future monlhly inslallmenrs 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 they fall due, such excess shall he. at Borrower's option. either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amollnt of the Funds
<br />held by Lender shall not be sufficient 10 pay taxes. assessments. insurance premiums and ground rents as they fa!! due,
<br />Borrower shaH pay to Lender any amount necessary 10 make lip 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 by this Deed of Trust. Lender shall promptlY,refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Propen~ IS sold or the Property IS orhen\Tlse acquired by Lender. lender
<br />s.hall apply. no later than immedIately pnor 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 ~ecured hy this Deed of Trust.
<br />3.. Application of Payments.. Unless applicable law prOVide,> othcrv.'lse. all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall be applied hv Lender first In payment of amollnts payable 10 Lender by Borrower
<br />under paragraph 2 hereof. then to interest payable on the NOIe. then to the principal of the Note. and then to interes.t and
<br />principal on any Future Advances.
<br />4. Charges; Liens. Borrower shall pay ::III 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 under paragraph 2 hereof or, jf not paid in such manner. by Borrower making payment. when due. directly
<br />to the payee thereof. Borrower shaH promptly furnish to I.ender 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 such payments.
<br />Borrower shall promptly dischar~e any lien which has. priority over t~is I~~d of Trust: prOVided. that Bor.ro~er shan not be
<br />required to discharge any such hen so fong as Borrower shall agree 10 wrHlng to the payment of the oblIgation secured by
<br />such lien in a manner acceptable to Lender, or shall in good failh contest such hen by. or defend enforcement of sllch lien in.
<br />legal proceedings which operate to prevent the enforcement of Ihe lien or forfeiture of the Property or any part thereof.
<br />5. Hazard lusullUlce. Borrower shall keep (he Improvements now existmg or hereafter erected on the Property insured
<br />against loss by fire. hazards included wit.hin the term "ex.tended ~ovC'ragc". 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 amount of
<br />'1uch coverage exceed that amount of coverage required to pay the sums secured by thiS Deed of TnlsL
<br />The insurance carrier providing the insurance shall he chosen hy Borrower subject to approval by Lender: prOVided.
<br />that such approval shall not be unreasonably withheld. AIi premiums on insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof or, if nOI paId in such manner. by Borrower making payment. when due, directly to Ihe
<br />insurance carrier.
<br />All insurance policies and renewals thereof shall be In form acceptable ro lender and shall include a standard mortgage
<br />dause in favor of and in fonn acceptable to Lender. Lender shall have the fight to hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish to Lender all r~newal notices. and all receipts of paid premiums. In the event of Joss.
<br />Borrower shall give prompt notice to the insurance ,arrier and Lender. Lender may make proof of loss jf not made promptly
<br />b~' Borrower,
<br />~ Unless Lende-r and Borrower otherwise agree in writlllg, insurance proceeds shall be applied to restoration or repair of
<br />(he Property damaged~ provided such restoration or repair j~ c<.:onoffilcally feasible :.i.nd the security of this Deed of Trust is
<br />not thereby impaired. If such restoration or repair is nOf economically feasible or if the security of this Deed of Trust would
<br />be impaired, Ihe insurance proceeds shall be applied 10 Ihe sums secured by this Deed of Trust. with Ihe excess, if any, p"id
<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 "arrier otlers to settle a claim for insurance benefits, lender
<br />is authorized to coHect and apply the insurance proceed'i at Lender's option either to resloration or repair of the Propeny
<br />or 10 the sums secured by Ihis Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shall nOl extend
<br />or postpone the due date of tbe monthly installments referred 10 In paragraph, I and 2 hereof or change the amounl of
<br />such installments. If under paragraph 18 hereof the Property IS acquired hy Lender, all right, title and interest of Borrower
<br />in and to any insurance policies and in and 10 the proceeds therc'(,f resulting from damage 10 the Property prior to the sale
<br />or acquisition shall pass 10 Lender to the exlenl of Ihe sums secured by Ihis Deed of Trust immediately prior to sucb sale or
<br />acquisition.
<br />6. Preservadon and MalatellllllCe of Property; te_bolds; Condominiums; Planned Unit Developments, Borrower
<br />shall keep the Property in gcxx1 repair and shaH not commit waste or pemlil impairment or deterioration of the Property
<br />and shall comply wilh the provisions of any lease if this Deed of Trust is on a leasehold. If this Deed of Trust is on a unil in a
<br />condominium or a planned unit development. Borrower shall per10rm aU of Borrower's obligations under the declaration
<br />or covenants creating or governing the condominium or planned unit development. the by-laws and regulations of the
<br />condominium or planned unit development. and constituent documents. If a condominium or planned unit development
<br />rider is executed by Borrower and recorded together with this Deed of Trust. the covenants and agreements of such rider
<br />shall be incorporated into and shall amend and supplement Ihe cOVenants and agreements of Ibis Deed of Trusl as if the rider
<br />were a pan hereof,
<br />7. Protection of I-eader's Security. If Borrower fails to perform the covenants and agreements contained in this
<br />Deed of Trust, or if any action or proceeding is commenced which materially atlects Lender''S interest in the Property,
<br />inc1udins, but not limited to, eminent domain. insolvency, code enforcement. or arrangements or proceedings involving a
<br />bankrupt Of decedent. then Lender at Lender'~ option, upon notice to Borrower. may make such appearances. disburse such
<br />sums and take such a.ction as is necessary to protect Lender's interest, including. hut not limited to. disbursement of
<br />re.uooable attoutCy's fees and entry upcJn the Property to make repairs. Jf Lender n..."quired mortgage insurance il'\ a
<br />condilion of making the loan securlOd by this Deed of Trust, Borrower shall pay the premiums required 10 maintain such
<br />i06urance- in tffect until such time AJ the requirement for such insurance terminates in accordance with Borrower's and
<br />Letldec's wrntenagreemcmt or applicahle law, Borrower shall pay the amount of all mortgage insurance premiums in the
<br />~ pI'O\'ided under paragraph 2 hereof.
<br />. An)' amounts disbuned by tender ponuant 10 Ihis paragraph 7, with interest thereon, ,hall hecome additional
<br />l~ of Borrower secured by this Deed of Trust. Unl... Borrower and tender agree to otber lerms of payment. such
<br />amounts sfuIll be pi!)'&bIe upon noli.., from l.ender 10 Borrower Hoquesting paymenl thereof. and shall hear inleresl from Ih"
<br />date of disbunement at the rate payable from time to time on outstanding principal under the Note unless payment of inlerest
<br />at M.<:II rate would be contrary to applicable law, in whkh event s\Jch amounts .hall hear mteresl at the highest rate
<br />ptlnDiIaibIe under applicable Ill... Notbinll e"ntaine<! in ,h,s paragraph 7 sball require Lende, 10 incur any expen.e or take
<br />IG)' actIOI1hom1Dder.
<br />~ .......... tCb.Cler may ~ke or came to be made rea$(,~n3.bJe cntnes upon and in'&pectlons of the- Property. ~')flwidcd
<br />that ~ slMlIlJi1te IIorrowcr nolI"" prior 10 any such mspec!lon .peei!ying reasonable caU$< there/Of rdated 10 I.ender\
<br />IfIlc:'. fit the ~.
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<br />83- 0010','
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