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~ UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows: 83- 001476 I. P.yment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest'"n the indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest on any FIJture Advances secured by Ulis Deed of Trust. %. Ji'lmds forT_ and l-.ante. Subject to applicahle law or to a written waiver by Lender, Borrower shall pay to l.ender on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full. a sum (herein "Fundsn) equal to one-twelfth of the yearly taxes and assessments 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 haza,d insurance, pldS one-twelfth of yearly premium installments for mortgage insu....nce, if any, all as reasonably cstimated initially and from time to, ti~e by lender on the basis of assessments and bins and reasonable estimates thereof. The Fundli shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes. assessments, insurance premiums and ground rents. Lender may not charge for 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 inlerest on Ihe Funds shall bc paid 10 Borrower, and unless such agree men I 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. Lender shall 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 this Deed of Trust, If the amount of the Funds held by Lender, logether with lhc future monthly installmenls of Funds payablc prior to the due dates of taxes. a..~essments. insurance premiums and ground rents, shall exceed the amount required to pay said taxes, assessments. insurance premiums and ground rents as they fall due, ~uch excess shall he, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, asses.'iments. insurance premiums and ground rents as they fall 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 promprly refund to Borrower any Funds held by Lender. If under paragraph 18 hereof the Property" sold or the Property IS othcrwlSc acquired by Lender, Lend-, shall apply, no later than immediately prior to the sale of the ProperlY or its acquisition by Lender, :lOy Funds held by Lender at the time of application as a credit againsllhe sums sc<:ure<! hy lhis D<.-ed of Trust. 3. Application of Payments. Unless applicable law provides otherwise. all payments received by Lender under the Note and paragraphs I and 2 hereof shall he applied by Lender first in paymcnt of amounts payable to Lender by Borrower under paragraph 2 hereof. then to interest payable on the Note. rhen to the principal of the Note. and [hen to interest and principal on any Future Advances, 4. Cb.aq:es; Liens. Borrower shall pay all taxes, assessments and other charges. fines and impositions .lttributablc to the Property which may attain a priority over thIS Deed of Trust, and leasehold payments or ground rents, if any, in the manner provided under paragraph 2 hereof or, if not paid in slIch manner. by Borrower making payment. when due. directly to the payee thereof. Borrower shall promptly furnish to Lcmler all notices of amounts due under Ihis pa....graph, and in the event Borrower shaH make payment directly, Borrower shaH promptly furnish 10 Lender receipts evidencing such payments, Borrower shall promptly discharge any lien which has. priority over this Deed of Trust: prOVided. that Bornlwer shaH not he required to discharge any such lien so long as Borrower shall agree in wriling to the payment of the obligatil\n secured by such lien to a manQCr acceptable to Lender, or shallirl good faiih COnlest sHch lien by, ()r defend enforcement of sllch lien in. legal proceedings which operate to prevent the enforcement of the IIt:n or (odeiluce of the Property or any part thereof. 5. Hazard IDSUnlltt. Borrower shall keep the improvements now C\ISllng or hereafter erected on the Property insured against loss by fire. hazards included within the term "extendeu (overage", and such other hazards as I.coder may require and in such amounts and for such pen ods as Lender may reqUlrc~ provuJcd. that Lender shail not require that the amount of such coverage ex.ceed that amount of coverage n:qUlred 10 pay lhe sum... secured by rhl'" Dcl."t.i of Tnlsl. The insurance carrier providing the insurance ...hall be chosen by Borrower sublect t(l approval by l.ender: prOVided. that such approval shall not he unreasonably withheld, All premiums on insurance policies shall be paid in the manner provided under paragraph 2 hereof or, If not paid in such manner, by Horrower making payment, when due, direclly to the iosuraoce carrier. All insurance policies and renewals thereot shall be in lorm 3i:i:cplablc to Lender and shall include a standard mongage clause in favor of and in fonn acceptable to lender. Lender shall have the right to hold the policies and renewals thereof. and Borrower shall promptly furnish to lender all renewal notices and all receipts of paiJ premiums. In the event of loss, Borrower shall give prompt notice to the IOsuram..'"e carner anJ lender. Lender may make proof of Joss I f not made promptly by Borrower, Unless lender and Borrower otherwise agree in wriung, insurance pnX'eeds. ,hall be applied to restoration or repair of the Property damaged, provided such restoration or repair I.... ei.:onomu:ally teasible and the security of this Deeo of Trust is not thereby impaired. If such restoration or repair i'i. not economically feaSible t\r If the s.cl'urity of this Deed of Trust would be impaired. the insurance proceeds shall be applit."'d to the sums secured b)' Ihis Ot.'Cd of Trust. with the C"I.:CSS. If any. paitl to Borrower. If the Property is abandoned by Borrower, t'r if HorroYlcr fails to resplmd hl Lender Within 30 days from lhe date notice is mailed by Lender to Borrower fhat the msurance carrier otTers h.' S\:tlle ~i ...'Iaun for in!\urance hcnefits. Lender is authorized to collect and apply the .insurance proceeds at l.ender"s. option either to r\.~lorallon or repair of the Property or to the sums secured hy lhis Deed of Trust. Unless lender and Borrower otherwise agree 10 .....riling. any such appllcalton 01 pro..'ceds to principal shall nol extend or poslpone the due date of the monlhly i"_lallmenh leierred l(I In par~gr.phs I and 2 hereol ,)f change the amount 01 such ins.tallments, If under paragraph I ~ hereot the Property IS a"::4uuW hy l.ender, ,all right. title and inlerc~t uf 8orrower in and '.o.~ny insurance policies and in and to the. Pf\l\.:t.-eUs therc,-}t' rouhmg hom d~magc to the Property prior 10 the sate or a'-:.-q~~sltlon shaH pass to Lender to the exlent l.'1 the sums ~c\:ured hy Ihls Deal 01 rrust Immt:dlalcly pnor to ~lIch sale or acqUISItiOn, 6. Pr.enalloa ad MaIale_ or Properly; b_holds; (:ondominiulllS; Planned Vnil I)t:velopmt:nls. Horrower shall keep the Pro~rt)' III g()O~. repalr. and shall ,nUl (1.11llnUl \\a:"t~ ti~ p...-rnlll impaHIHt:"I~l or tklCril.lralillll (If Ihe Pn~perty and shall comply With the prOVISIOns ot any tease If thiS Oeed of Trust I~ 4.1n a h:aM:hold. Ii thi~ Deed of Trust is on a UOIt in it condominium or Cl planned unit development, Borr(\wer shall pedorm ail of Borrowers ohhgalions unuer the dedar:uion or cov~.nts creating or go~erning the ,,:ondominium or planneJ unit de\'clopm~nl. the hy-Iaws ..In\! rl'gulation~ 1.'1' the ~~lDlum Of planned umt development. and constituent documenb. If a ~ondom'nium or planned unil develupment ruler IS ~xecuted by ~rrower and recorded together ~-ilh this Deed ot rrusl, the \:ovenanls and agreemcnts t'lf such rider shall be ItlCofpQrated Into and shall am.:nd and supplement the \.'t~\cnanl~ and agreements of thiS Oct..... 01 Tru~t as if the rider were a part hereof. 7. Pro&ectioa of Leader.s Security. If Borrower falls 10 perform the covenanls ami agreements (on tamed in thi.. ~ ?f Trost, or ~f ~ny action .or proceed~ng.is commem:ed which rnalerially affects Lender's int-crest In lht; Property. IOcludlng.. but not !trotted to, eOlmeRt domam. msoh:ency, code entofcement, ('r arr-.mgements or procl.~uing~ IOVDlvIflg ;1 bankrupt or decedent~ t~n Lender at lender's option. upon notice to Rorrow~r, I~lay male such appearanl.:cs. dishurse s\I(h :sums and take such action as is necessary 10 protect Lender's inter~t, mcludl1lg, but nor linutcu to. disbursement \'1 fc.ast.l.n:abte attor~Y'$ fees and entry upon .the Propert)' to make repairs. If Lemler required mo~tgagC' insuran.:c ~l' d ~-ODdition ,?f makmg th;e loan ~urcd by thIS l~ of TnlSt, BOf.rower shall pa~' the rrenuums reqUlreo to rmunt.Hfl :<oIH:h Ubura~ to e.tfect un-tf such tune as the requirement f(.'r such tnsuran.,;c tefllllnah.~ In accordalll:c With Borrnwer\, ~1IH.1 Lender's written alrecmcol or applicable law. Borrower s.haH pa) the anlount of ;tli mortgage lI1surancc prcmillm~ 11\ lhc mlUl_ provided under fl&llI&rapli 2 hereof, . Any aJIlOU.Qt5. disbursed by Lend_cr pursu~nt 1(1 this paragraph 7. With imcrt\t thercc-'u. shall OeCIJlllC .H.ldHlt~n;li Indebtedness of Borrower $.C(;ured ~y thu, Deed of Trus.1. Unless 8orro~er and Lender ilgrce h,\ other (eflllS (~t payment, \tu.:h ~QII $ball be payable upon notl<< from Lender to Borruwer rel1ues.tlOg pa)'nlCut thereof, ;1114.1 shall hcaf 1Illerc!tt !rlml lht' date- of-dilbunement at the rate payable (rom time to ,time on outs,t~Utd~ng priflcipal under the NOle unless pa.yment ()f intcrc~t at ~. rate would be, COfttntry to apphcable 1~'4". I~ wh!~h event su~h amounh_ ."h.lll hear mh~h~'l ,it Ih,,' highC5.t rate ~ _under .ppb~able I.",.. Nothmg t,,'ontamw In th.s par.agraph 7 shall require Lender to Illcur an\! c\pen$c or take any llI:tK1o beteullder, " .... I~ I.ender- may m~"c Qr_lo:al.lSC to be ma~ r'(:a,it(~nable e-t~ln~ llf.'Klll ~-Hld 1Il<;.pci.:tio.ns of the Property. l'hwi...kd that l..~r d\aU Jtve &frower oott\:~ pnor to un)' such HupecU(in sp<<:lfymg rea~.,)n.ahlc L.HI~ Ihcrclm ldated hl 1 ..'nd..~r " .nt_ In the p_,,"