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<br />63-00 Hl2,7
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<br />iJ"Ui-'OitM t'ovF.NAN'rs. Borrower ,md , .ender covenant and agree 35 follows:
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<br />. I. ~ of PrII1d", .... 11Ife1eot. Borrower shall promptly pay when due the principal of and interest on'lhe
<br />Indebtedness evidenced by the Note, prepayment and late charges as provided in the NOle, and the principal of and interest
<br />on any Future Adyances secured by this Deed of Trust.
<br />2. 1'''' for T_ .... I.........." Subject 10 applicahle law or 10 a wrillen waiver by Lender, Borrower .ball poly
<br />to lender on the day monthly inslallments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may allain priority oyer this
<br />Deed of Trusl, and ground renr. on the Property, if any, plus one-Iwelfth of yearly premium inslallments for hazard insurance,
<br />plus one-Iwelfth of yearly premIum installmenls for morlgage insurance, ,,- any, all as reasonably estimated initially and from
<br />time to time by Lender on the basis of assessments and hills and reasonable estimates thereof.
<br />The Funds shall he held in an institulion the de"",its or accounts of which are insured or guaranteed by a Federal or
<br />s1a1e agency (including Lender if Lender is such an institution), Lender shall apply Ihe Fund. to pay said laxes, assessments,
<br />insurance premiums and ground rents. Lender may nof charge for so holding and applying the Funds. analyzing uid account
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower inlerest on the Funds and appliedble law
<br />permits Lender to make such a charge. Borrower and l.ender may agree in writing at the time of execution of this
<br />Deed of Trust Ihat inleresl on the Fund. shall be paid 10 Borrower, and unl",-, such agreement is made or applicable law
<br />requires such intereslto be paid, Lender .hall not he required 10 pay Borrower any interest or earnings on the Funds, lender
<br />shall give 10 Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />ptlrpolC for which each debit to the Funds was made, The Funds are pledged as additional security fo, the lums _ured
<br />by this Deed of Trust,
<br />If the amount of Ihe Funds held by Lender, together with Ihe fulure monthly installments 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 Ihey 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, If the amount of Ihe Funds
<br />held by lender shall not be sufficient 10 pay taxe., asse'-,menls, insurance premiums and ground rents as Ihey fall due,
<br />Borrower shall pay 10 Lender any amount necessary 10 make up Ihe deficiency wilhin 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 Ihis Deed of Trust, lender shall promptly ,efund to Borrower any Funds
<br />held by lender, If under paragraph 18 hereof Ihe Propeny i. sold or Ihe ProperlY is otherwise acquired by lender, lender
<br />shall apply, no laler Ihan immedIately prior 10 the sale of Ihe Properly or ils acquiSItion by Lender, any Funds held by
<br />Lender at the time of application as a credit against the .ums secured by this Deed of Trust, ,
<br />J. ApplktltIon of Payments. Unless applicable law provides olherwise, all payments received by lender under the
<br />Note and paragraphs I and 2 hereof shall be applied hy Lende, first in payment of amounls payable to lender by Borrower
<br />under paragraph 2 hereof, then to interesl payable on the Nole, Ihen 10 Ihe prinCIpal of Ihe Note, and then to interest and
<br />principal on any Future Adyances,
<br />4. Ch_ LIena. Borrower shall pay all taxes, assessments and olher charges, fines and impositions allributable to
<br />lhe Property which may allain a priorily oyer Ihis Deed of Trust, and leasehold payments or ground rents, if any, io 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 Lender all nolices of amounts due under this paragraph, and in the
<br />eYeot Borrower shall make payment directly, Borrower shall promplly furnish to Lender receipta evidencing such payments,
<br />Borrower shall promptly discha'J<' any lien which has priority over this Deed of Trust; provided, Ihat Borrower shall not he
<br />required to discharge any such hen so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lende" or shall in good failh conlest such lien by, or defend enforcement of such lien in,
<br />legal proceedings which operate to preyenl the enforcement of Ihe lien or forfeilure of the Property or any part thereof,
<br />S. 8aD1dl__. Borrower shall keep the improvements now existmg or hereafter erected on the Property insured
<br />against loss by fire, hazards included within Ihe term "exlended coyerage", and such other hazards as Lender may require
<br />and in such amounts and for such perinds as Lender may require; proVIded, Ihal lender shall not require that the amount of
<br />such coverage ..ceed that amount of coverage required to pay the sum. secured by this Deed of Tn..t.
<br />The insurance carrier providing the insurance shall he chosen by Borrower subject to approval by lender; provided,
<br />that .ud1 approval .hall not be unreasonahly wilhheld. All premiums on insurance policies shall he paid in the _
<br />provided UBilei' para....pb 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />illlUrance carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard monl..
<br />clause in favor of and in form acceplable to lender. Lender shall have the right to hold Ihe policies and renewals thereof,
<br />and Borrower shall promptly furnish to Lender all renewal nolices and all receipts of paid premiums, In the event of loss.
<br />Borrower shall give prompt nOlice 10 Ihe insurance carrier and lender, Lender may make proof of loss if nol made promptly
<br />by Borrower,
<br />Unless Lender and Borrower otherwise agree in wrilinl, insurance proceeds shall he applied to resloration or re;air of
<br />Ihe Property damaged, provided such restoration or repaor is economically feasible and lhe security of this Deed of TrUlt is
<br />not thereby impaired, If such realoralion or repair is not economically feasible or if lhe security of Ihis Deed of Trust would
<br />be impaired, the insurance proceeds shall be applied 10 Ihe sums secured by Ihis Deed of Trust. with the excess, if any, paid
<br />to Borrower, If the Property is abandoned by Borrower, or if Borrower fails 10 respond 10 Lender wilhin 30 days from the
<br />date notice is mailed by lender to Borrower Ihat the insurance carrier offers 10 settle a claim for insurance henefils, Lender
<br />is aulhorized 10 collecl and apply the insurance proceed. al lender's oplion either to restoration or repair of lhe Pn'perty
<br />or to the sums secured by this Deed of Trust,
<br />Unless lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or postpone the due dale of Ihe monthly installments referred 10 in paragraphs I and 2 hereof or chanF the amount of
<br />such instaUmenls, If under paragraph 18 hereof lhe Property IS acquired by Lender, all righi, litle and interest of Borrower
<br />in and to any insurance policies and in and 10 the proceeds Ihereof resultinl froOl damage 10 the Property prior 10 the sale
<br />or aequisilion shall pass 10 Lender to Ihe exlent of lhe sums secured by this Deed of Trusl immediately prior 10 such sale or
<br />acquisition.
<br />6. ............ ad ~ of 1'Jooperty; uMeloolds; C~ ....... UIIIt De"............ Borrower
<br />shall keep Ihe Property 10 good repair and shall not commil waste or pernlll impairmcnt or delerioration of the Property
<br />and shall comply wilh the provisions of any lease if Ihis Deed of TrusI is on a leasehold, If this Deed of Trust is on a unil in a
<br />condominium or a planned unit deYelopment, Borrower shall pedorm all of Borrower's obliptions under the declaralion
<br />or covenan.. creating or governing the condominium or planned unit deyelopment, the by-laws and regulations of the
<br />condominium or planned unil deyelopmenl, 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 he incorporated into and shall amend and supplemenl lhe covenanls and agreements of this Deed of Trusl as if the rider
<br />were a pan hereof.
<br />7. PretectIoII of LeMu'a Senorlty. If Borrower fa.ls 10 perform the covenants and agreements contained in this
<br />Deed of Trusl, or if any action or proceedinll is commenced which malerially affecls Lender's interesl in the Property,
<br />includinl, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involYing a
<br />bankrupt or deeedent, lhen Lender at Lender's option, upon notice 10 Borrower, may make such appearances, disburse such
<br />sums and take such aClion as is necessary 10 protecl Lenders inleresl, including, but not limited to, disbursement of
<br />reasonable auomey's fees and entry upon lhe Property 10 make repairs, If lender required mortpge insurance as a
<br />condition of making the loan secured by this Deed of Trusl, Borrower shall pay Ihe premiums required to maintain such
<br />insurance in effect until such. time as the requirement for such insurance terminates '0 accordance with Borrower's and
<br />Lender's written acreement or applicable law, Borrower shall pay the amount of all mortpge insurance premiums in Ihe
<br />manner provided under paragraph 2 hereof,
<br />Any amounts disbursed by Lender pursuant to Ihis parallraph 7, with interest thereon, shall hecome additional
<br />indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and lender agree 10 other terms of payment. such
<br />amounls shall he payable upon nOlice from Lender 10 Borrower requesling payment lhereof, and shall bear interest from the
<br />date of disbunement at lhe rate payable from time to time on oUlslanding p,incipalunder the Note unless paymenl of inlereat
<br />at Illdt rate would be contrary to applicable law, in which evenl sueh amounl. shall bear inleresl at the hilllesl rate
<br />permioaible under applicable law, NOlhing conlained in Ihis paragraph 7 shall require Lender 10 incur any expense or take
<br />any action herwnder,
<br />.. I.......... Lender may make or cause 10 be made rea",nable entries upon and inspections of lhe Property, provided
<br />Ihal Lender shall,;ve Borrower nolice prior 10 any such inspechon specifyin, reasonable cause lherefor related 10 lender'.
<br />IIIIe_ in the ProNrty,
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