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<br />83-lJU1,hJJ
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<br />UNIFORM CoVENANTS. Borrower and Lender covenant and agree as follows:
<br />I. P.yment of Prinripa' and Interest. Borrower shall promptly pay when due the principal of and interest .on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and lhe principal of and mlerest
<br />on any Future Advances secured by this Deed of Trust.
<br />2. FaIIds for To... and Insuranee. Subject to applicahle law or to a written waiver by Lender, Borrower ~hall pay
<br />to Lender on the day monthly installments of principal and interest arc payable under lhe Note, untilth~ Note IS paId," full,
<br />a sum (herein uPunds") equal to one-twelfth of the yearly taxes and assessments ~hlc~ may attam pnoTJty. over this
<br />Deed of Trust, and ground rents on the Property, if any, plus one-twelfth of yearly premIUm ,"stallments for hazard msurance,
<br />plus one~twelfth of yearly premium installments for mortgage insurance, if any. aH 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 accollnts of which arc insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an institution). Lender s~all apply the ~unds to pay said ta~es, as~essments.
<br />insurance premiums and ground rents. Lender may not charge for so holding and ap'plYlOg the Funds, analyzmg sal.d account
<br />or verifying and compiling said assessments and bills, unless Lender pays Borr~wer l':l~crest on the .Funds and ap~hcable la~
<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 slIch 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 />shan give to Borrower, without charge. an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made, The Funds are pledged as additional security for the sums secured
<br />by this Deed of Trust.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments. insurance premiums and ground rents, shaH exceed the amount required to pay said taxes.
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly inslallments of Funds, If the amount of the Funds
<br />held by lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due.
<br />Borrower shall pay to Lender any amount necessary to make up 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 lhe Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior 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 secured by this Deed of Trust.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall be applied by Lender first in payment of amounts payable to Lende, by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and lhen to interest and
<br />principal on any Future Advances,
<br />4. Cblllles; Liens. Borrower shall pay all taxes, assessments and other charges. fines and impositions attributable to
<br />the Property which may allain 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, if not paid in such manner, by Borrower making paymenl, when due, directly
<br />to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in tbe
<br />event Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments,
<br />Borrower shall promptly discharge any lien which has priority over this Deed of Trusl; provided, that Borrower shall not he
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligalion sccured by
<br />such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in.
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />s. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the lerm "exlended coverage", and such olher hazards as Lender may require
<br />and in such amounts and for such periods as Lender may require; provided, thaI Lender shall not require that the amount or
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Deed of Trust.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lcndcr~ provideu.
<br />that such approval shall not be unreasonably withheld, All premiums on insurance policies shall be paid in the manner
<br />provided under paragrapb 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender, Lender shall have the right to hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of 105......
<br />Borrower shall give prompt noti~ to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
<br />by Borrower,
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the security of this Deed of Trust is
<br />not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Deed of Trust would
<br />be impaired, the insurance proceeds shall be applied to the sums secured by this Deed of Trust, wilh the excess, if any, paid
<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 carrier offers to settle a claim for insurance benefits. Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of Ihe Property
<br />or to the sums secured by this Deed of Trust,
<br />Unless Lender and Borrower otherwise agree in writing, any such applicalion or proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
<br />such installments, If under paragraph I ~ hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to Ihe sale
<br />or acquisition shall pass to Lender to the exlent of the sums secured by this De<-d of Trust immediately prior to such sale or
<br />acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments, Borrower
<br />shall keep the Property in good repair and shall nol commil waste or pcrmil impairment or delerioration of the Property
<br />and shall comply wilh the provisions of any lease if tbis Deed of Trust is on a leasehold, If this Deed of Trust is on a unit in a
<br />condominium or a planned unit development, Borrower shall pedorm all or 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 the covenants and agreements of this Deed 01 Trust as if the rider
<br />were a part hereof,
<br />7. Protection of Lender's Security. If Borrower fails to perform the covenanls and agreements contained in this
<br />Deed of Trust. or if any action or proceeding is commenced which materially affects lender's interest in Ihe Property,
<br />including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
<br />bankrupt or decedent~ then Lender at Lender's option. upon notice (0 Borrower, may make such appearances, disburse such
<br />sums and take such action as is necessary to protect Lender's interest. including, hut not limited to, disbursement 01
<br />reasonable attorney's fees and entry upon the Property to make repairs. If Lender required mortgage insurance as a
<br />condition of making the loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain ~lIch
<br />insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and
<br />Lender's written agreement or applicable Jaw. Borrower shall pay the amount of ,III mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof. -
<br />, Any amounts disbursed by Lender pursuant to this paragraph 7, with inlerest thereon, shall necome "dditional
<br />Indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender "gree to other lcrms or paymenl, such
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, 'lOd sh,III near inlerest from ,he
<br />date of disbursem<:nt at the rate payable from time 10 time on outstanding principal under the Nole ullless payment of interest
<br />at su!,h, rate would be, contrary to ap~licable law, in which event such amounts, shall hear ,"Ie rest at the highest rate
<br />permllS!ble under applicable law, NOlhmg contamed '" th,s paragraph 7 shall reqUIre Lender to incur any expense or take
<br />any action hereunder,
<br />L IJllPedioB: Lender may m~ke or cause to be made reasonable entries upon and inspections of the Property, provided
<br />~hal l...e~der shall give Borrower notice prior to any .such inspeclion specifying remionable cause therefor rclaled to Lender.,
<br />IQtCteSl IQ the PtooertV,
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