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<br />Utvt[+Oaxt Covt:rtnrrrs. Borrower and Lender covenant and agree as follows:
<br />1. Payetent of Principal and IeteraR. Borrower shat! promptly pay when due the principal of and interest on [he
<br />indebtedness evidenced by the Note, prepayment and.late charges as provided in the Note, and' the pdncipai of and interest
<br />on ang Future Advances secured by this Deed of Trust. - -
<br />2. [}tondo ferTaw-atad iminaaiY. Subject-to applicable law or to a written waiver by Lender,-Borrower shall pay
<br />to i.enderotrtheday monthly-installmems-of prncipal and interest are payabie:underthe-1VOte, until the Note is:paid--in fuil,_-
<br />a sum (herein "Funds"} 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.instailmertts for hazard insurance.
<br />plus one-twelfth ofyeady prerniuminstallments for mortgage insurance, iEany, atlas-reasonably estimated'initially-and frdm
<br />timcto-time by Leader on the basis of assessments andbifls-and reasonable estimates-.thereof: - - -
<br />The.Futtds shalt--bt held in an institution-the deposits or accounts of which are insured-ar guaranteed. by-a Federal -or
<br />state agency (including-Lender if Lendu is stic}2 an msfixvtionl. t,endcr shall apply the Funds is-pay said-taxes; assessments:.
<br />insurance premiums and ground rents. Lcttder 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 Borrowerinterest on: the Fonds and applicable-law -
<br />permits Lender to make such a charge. Borrower anti Lender may agree in writing at the time. of execution: of-- this
<br />Ueed of Trost that interest on rho Funds shall be paid to Borrower, and. unless such agrcement is made-or applicable-law
<br />requites such interest io 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 debitsto the Funds and-the -
<br />purptxe for which each debit to the Funds was made. The Funds are- pledged-as additional -security for- [he sums -secured-~
<br />by triis Deed of Tnut_ -
<br />If the amount of the-Funds held by 1_ender, together with the future monthly installments of Funds- payable- prior to
<br />trio due dates of razes. auessments, insurance premiums and ground- rents, shall.exceed the amount required'to pay said taxes,
<br />assessments, insurance premiums and ground rents as [hey fall due, such excess shall be, at Borrower's- option, either
<br />promptly repaid to Borrower or credited to Harrower on menthiy installments of Funds: It the amount of-the- Funds
<br />held by Lender shall not be suffident to pay taxes, assessments. insurance premiums and ground rents as they fa}1-due,
<br />Borrower shalt pay to Lender any amount necessary to make up the deficiency within 30-days from the date noticeismaile8
<br />by Lender to Borrower requesting payment thereof. -
<br />Upon payment in full of all sums secured by this Deed of Trust. Lender shalt oromptty re€und- to Borrower any Fiitids
<br />held by Lender. If under paragraph !R hereof [he Propetty es sold er the Property is otherwise acquired by Lender, Lender:
<br />shall apply, ne later than immediately prior to the sale of the Prapeny or its acquisition by Lender, any Funds held by
<br />!..ender at the time of application as a credit against the sums secured by this Deed of Trust. -
<br />3. Application of Payments. Unless applicnble law provides otherwise, all payments received by Lender-.under the
<br />Note and paragraphs 1 and Z hereof shall be applied by Lender first in payment of amoums payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Nate, then to the principal of the -Nate, and then to interest artd.
<br />principal on any Future Advances.
<br />4, Charges; Lierts. Borrower shall pay a!I 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 pavmeats ar ground rents, if any,- is the
<br />manner providtd under paragraph 2 hereof er, if not paid in such manner, by borrower making payment, whendue, directly
<br />to the payee thereof. Borrower shall promptly furnish to Lender all notices of nmounts due under this paragraph, and in the
<br />event Borrower shall make payment direct R', Borrower shall promptly furnish to Lender receipts evidencing such paymems:
<br />Barrawer shalt promptly discharge any Herr which has prorty over this heed at Trust; provided, that Harrower shall not he
<br />required to discharge any such lien so long as Borrower shall agree m writing to the payment of the obligation secured by
<br />ouch Gen in a manner accepwbie to Lender, ar shall in good faith contest such i[en by, ar defend enforcement of such lien in.
<br />logo! proceedings which operate [a prevem the enlarcement of the hen or forfeiture of the Property or arty part thereof.
<br />5. Eisaard Insurance. Borrower shall keep the improvements uaw existing or hereafter erecrcd nn the Property insured
<br />against toss by fire, hazards included within the term "evtended rnverage'", and such other hazards as Lender may require
<br />and in such amoums and for such periods as Lender may require: provided. that tender shall not require that the amount of
<br />such wverage exceed- that amount of cavecage reyuneri to pay the sums scoured by this Deed of Trust.
<br />The insurance carrier providing the insuronce shall ix chosen by- Borrower subject to approval by i_ender: provided.
<br />that such approval shall na[ lac unreasonably wifihetd. All premiums ur. insurance policies shall be paid in the manner
<br />provided undo paragraph 2 hereof or, if not paid ro such rnarner, by Borrower making payment, when due, directly to the
<br />iaaU[anet CatSiei.
<br />All insurance policies and renewals thereof shall be m Corm acceptable to !.ender and shall inaludc a standard mortgage
<br />clause in favor of and in form a-.ceptahle to Lender. Lender shall have the right to hoW the policies und renewals thereof.
<br />and Borrower shalt prompdy Yu: Wish to Lender aCl renewal notices and all receipts of paid premiums. In the event of loo<.
<br />Borrowu shall give prompt notice to the insurance carnet and Lender. Lender may make proof of lass if not made promptly
<br />by Botrawzr.
<br />Unless Lender and t3orma~er otherwise agile in writing. insurance proceeds shall be applied to restoratior. ar repair of
<br />the Property damaged, provided such restorntian or repaer i, economically feasible and the security of this Deed oC Trust is
<br />not thereby impaired. }( such restoranon ar repair is not ecanemically feasible ar d the seaarity of this L}eed o[ 'trust would
<br />hc' impaired, the insurance proceeds shalt be applied to the scans secured by this Uced of Trust with the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Bornower. or if Borrower tails ur respund to Lender within 30 bays from the
<br />date native is mailed lay Lender to Barrawer that tht insurance earner otters to settle a claim for insurance benefits. Lender
<br />is authorized to collect and apply the insurance pra:eeds at Lender's option either to restoratrmt ur repair of the Properly
<br />or to the sums secured b}° this Deed of Trust.
<br />Unless Lendet and Borrower otherwiu agree m venting, any such application of proceeds to principal shall oat extend
<br />or postporn the due date of the monthly installments referred to m paragraphs I and Z hereof or change the amount al
<br />such installments. if under paragraph IR hereof the Property is acquired by 1,ender, all right, title and interest of Borrower
<br />Sn and to any insurance pevtictes and in and to the proceeds thereof resulting from damage: to the Property prior to the sale
<br />or acquisition shat! pass to 1-ender to the extent of the sums securoeC by this Ueed of Trust immediately prior ro such sale ar
<br />acquisition.
<br />6. Preservation and Maiateuance of Property; Leaseholds; tottdominiums; Planmd Unit Devetopmems. Borrower
<br />shalt keep the Prapeny in ga?d repair and shat! not eummit waste or perrnn irnpairmcnt or deteronuion of the Property
<br />:rod shat! aatnply with [he provisions of any lease if this Deed of Trust is on a leasehold. If this Died of 77ust is an a trait in a
<br />condominium ar s planned unit development, Borrower shall pertarm all of Borrower's abtigatians under the declaration
<br />ar tmvenaats creating or governing the: coadaminiuna ar planned unit development, the by-laws and regulations of the
<br />condominium or planned unit developmert, and cansutuent dcaumcnts. If a condominium ar planned unit development
<br />rider is executed by Borrower and recorded wgether with this heed of "Gras} the covenants and agreements a[ such rider
<br />shall be ituorporated iota and shall amend and supplement the covenants and agreements of this L7eed of Trust trs d the rider
<br />wire a part hereof,
<br />7. PtuteteHon o[ Lender's Seenrity. if Borrower fails [o perform the covenants and agreements contained in this
<br />Decd of Trust, or if any action ar proeeedeag is commenced which materially allects Lender's interest in the Property,
<br />including, but rant limited to, emirtent domain, insolvency, code enforcement or arrangements or prcxeedings imelving .i
<br />haakmpt of decedent, then L.ctuter at Lender's option, upon notice to Barrawer, may make such appearances, dishurse such
<br />sums arad late such action as is necessary to pinta} tinders interest, including, but not limited to, disbursement of
<br />raaatatah!e attorneys fees and entry upon the Properly to make repairs. If !,ender r:~luired mortgage insurance as a
<br />c"attditiort of making the loan secured 6y thts Decd of Tivst, Borrower shaft pay the premiums required ro maintairs .uch
<br />iastuam-e in etTea untt1-such time as the requirement far such imurnnce terminates in accordance wrth Borrower's and
<br />t-eodar`a written agreement or applicable law. Bortt»ver shall pay the :}mount at all mortgage insurance premiums in the
<br />taaeacr provided utxkr paragraph 2 hereoL
<br />Aap- anmunta disbtttaed by Ltuder pvrauum to this paragraph 3, wish interest therernt_ shall taeceme additional
<br />iraiebtedtitaa of BofraWeF securtd Lay this DecK1 of Trust. Unless Harrower and Londu agree to other terms at payment such
<br />atnibyfrt[is sttailhe payable upon txatice (ram Lendar to Harrower requesting payment thereat, and shalt hear interest Iron the
<br />dtttastf d~iuraexttenrat the rate payable helm time io [itrrt an autstandmg pnneipai under the Nate }}Wiens paytttent of interest
<br />at atcb rats would Ix contrary fa appi~ic:able taw, nt which event such amounts shall beae interest at the hrghpt rate
<br />pcrr}kiaalt"stc tinder applfcaido Irw. Nath!ng contained in this paragraph 7 shalt rcyuire Londu to incur env expense ar take
<br />any ar;.$ir~t hcreumbar.
<br />!I. - Itr~. 1xns~r tray make ar cause to itc made reasnaabir entries crpota anti mspec'uons of the Property, prcavsded
<br />il'ut.lar±ilat`t+t~B';grvz )lartmxer nc[tica ptiat to any such inspectLcxa spec~'fyia8 reasrmatale cause [haretar related tc C_r-ader't
<br />+ntarmt-in the Ivrat>SatSY.
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