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I 83-f)U 1 '70'; L UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: I. """at of Princi.... and IDteft!5t. Borrower shall promptly pay when due the principal of and interest on the indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest on any Future Advances secured by this Deed of Trust. 2.. 1'.... for Taus ..... I.......,e. Subject to applicahle law or to a written waiver by Lender, Borrower sball pay to Lender 00 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 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 hazard insurance, plus ooe-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by Lender on the basis of asse.~ments and bills and reasonable estimates thereof. The Fuods shall be held in an institution the deposits or accounts of which are insured or gu'!ranteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessmcnts, 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 interest on the Funds shall be paid to Borrower. and unless stich 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. Lender shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the PUIpOSe for which each debit to the Funds was made. The Fuods are pledged as additional security for the sums secured by this Deed of Trust, . If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due dates of tax.es. assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes. assessments, insurance premiums and ground rents as they fall due. such excess shall be, at BOfTower'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. assessments. 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 promptly refund to Borrower any Funds held by Lender, If under paragraph 18 hereof the Property is sold or thc Property IS otherwise acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by lender, any Funds held by Lender at the time of application as a credit against the sums secured by this need of Trust, 3. Application of Payments. Unless applicable law provides otherwise, all paymcnts received by Lender under the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts 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. Cbllfle5; Lie... Borrower shall pay all taxes. assessments and other charges. fines and impositions attributable 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 such manner, by Borrower making payment, when due. directly to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the eveot Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments, Borrower shall promptly discharge any lien which has priority over this Deed of Trust; provided, that Borrower shall not he required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by such lien in a manner acceptable to Lender, or shall in good faith canlest such lien by, or defend enforcement of stich lien in. legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof. S. H.....ID5Ul1ID.ce. Borrower shall keep the improvements now existing or hereafter erected on the Properly insured against loss by fire. hazards included withirr the term "extended coverage", and such other hazards as Lender may require and in such amounts and for such periods as Lender may require; provided. that Lender shall not require that the amount of such coverage exceed that amount of coverage required to pay the sums secured by this Deed of Trust. The insurance carrier providing the insurance shall be chosen by Horrower subject to approval by Lender: provided. that such approval shall not be unreasonably withheld, All premiums on insurance policies shall be paid in the manner provided under paragrapb 2 hereof or, if not paid in such manner, by Borrower making payment. when due, directly to the insurance carrier. All 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 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 paid premiums, In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. lende, may make proof of loss if not made promptly by Borrower, Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, provided such restoration or repair is economically feasible and the security of this Deed of Trust is not tbereby impaired, If such restoration or repair is nol economically feasible or If the security of this Deed of Trust would be impaired, the insuranee proceeds shall be applied to the sums secured by this Deed of Trust, with the excess, if any, paid to Borrower, If the Property is abandoned by Borrower. or if Borrower fails to respond to Lender within 30 days from the date notice is mailed by Lender to Borrower that the insurance carrier oilers to settle a daim for insurance benefits. Lender is autho,ized to collect and apply the insurance proceeds at Lender's option cither to rc'Storation or repair of the Property or to the sums secured by this Deed of Trust, Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or P<>!'tpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of sucb tostallments, If under paragraph I H hereof the Property is acquired hy Lender, all right. title and interest of Borrower in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale or a<:'l!-,~sition shall pass to Lender to the extent of the sums secured by this Deed of Trust immediately p,ior to such sale or acqmsltton. 6.. Praenatlolo..... MMolenanc:e of Property; Leaseholds; CondominiulDli; Planned Unit Developments, Borrower shall keep the Pro~rty in good repair and shall not commll wastc (,lr pamit impairmcnt or dctcrioration of the Property and sball comply w.th the provisions of any lease if this Deed of Trust is on a leasehold. If this Deed of Trust is on a unit in a condominium or a planned unit development. Borrower shall petform all of Borrower's obligations under the declaration or cov~a~ts creating or governing the condominium or planned unit development. the by~laws and regulations of the c~n~Dlum or planned unit development. and constituent documents. If a condominium or planned unit development nder .s executed by. Borrower and recorded together with this Deed of Trust, the covenants and agreements of such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider _ a part hereof. 7. PreIec:tioa of Lender's Security, If Borrower fails to perform the covenants and agreements containcd in this Deed !,f Trust, or i,f any action ,or proceeding ,is commenced which materially affects Lender's interest in the Property, IUcluding. but not hmlted to, emment domam, Insolvency, code enforcement. or arrangements or procet.~ings involving a bankrupt or decedent, then Lender at Lender's option. upon notice 10 Borrower. may make such appearances, dishursc such sums and. t!lke such action as is necessary to protect Lender's imerest, including. hut not limited to, dishur~clllcn( 01 reaso.n~blc atto~y's fees and entry upon .the Property to make repairs. If Lender required mortgage insurance .IS a ~tton of tnaktng tbe loan secured by thIS Deed or Trust, Borrower shall pay the premiums re<lui,ed to maintain "Hoh Insurance in e1fect until such time as the requirement for such insurance terminates in accordance with Borrower's and lenck..'s wri~en agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the manner provided under paraarapb 2 bereof, , Any amounts disbursed by Lender pursuant to this paragraph 7, WIth interest thereon, shall hecome additional .ndebtcd_ or Borrower secured by this Deed of Trust. Unless Borrower and I.ende, agree to other terms of payment, snch amounts shall be payable upoll not;"", from Le!,der to Borrower requesting payment thereof. and shall bear interest ("'Ill the dale of dllbulllClllCnl at the rate payable f,om tIlDe to ,time ,!n outstanding principal under lhe Note unless payment of interest at ~. ,ate would be contrary to apphcable I,!w, to whIch even' s\lch amounts sh.n bear interest at the highest rate ~ under appliable law, NOlhlOg contalOed ID thts paragraph 7 shall require Lender 10 incur any expense or take &II)' _ be(e\lllder, '" ~ tender may m~e oryause to be made reak-lnnble entries lIpon ;II}\1 in-s.pections of the Property, provided that ~ lball.tv" Borrower notJce pnor to an)' sw:b 'n>pection specifying reasonahle causc therefor relatc'" to Lender., ,""'"'" '11 tbe PrOMrtv.