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<br />83-001909
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
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<br />I. P.yment of Principal and Interest. Borrower shall promptly pa.y w~en due the principal o.f and interest ,on the
<br />indebtedness evidenced by the Note, prepayment and lale charges as provIded tn Ihe Note, and Ihe pnnclpal of and mlerest
<br />On any Fllture Advances secured by this Deed of Trost.
<br />Z. Fuads for Tax... and InsulllDce, Subject to applicahle law or to a wriUen waiver hy Lender, Borrower shall pay
<br />to Lender on the day monthly installments of principal and interest arc payable under the ~OIC, until th? NOI.c i~ paid in ful.L
<br />a sum (herein "Funds") equal to one~twelfrh of the yearly taxes and assessments whlc~ may attain pnoflly . over thl!'\
<br />Deed of Trust. and ground rents on the Property, if any. plus one-twelfth of yearly premium mstanm~nls for hazard Insurance.
<br />plus- one-twelfth of yearly premium installments for mort~age insurance, if any, all as reasonably estimated initially and from
<br />time to time by Lender on the basis of assessments and bills and reasonable estimates.lhcreof.
<br />The Funds shall be held in an institution the deposits or accounts of which arc Insured or guaranteed hy a Federal or
<br />slate agency (including Lender if Lender is .such an institution). Lender shall apply the Funds to pay said taxes. assessments.
<br />insurance premiums and ground rents. lender may not charge for so holding and applying the Funds. analY71ng sail! account
<br />or verifying and compiling said assessments and bills. unless Lender pays Borrower il!tercst on the Funds and applicable lav.-
<br />permits Lender to make such .a charge. Borrower and Lender may agree in wflting at the Ume of cxccllti~n of t~i~
<br />Deed of Trust that interest on the Funds shall be paid to Borrower, and unless such agreement IS made 1.:1r applicable law
<br />requires such interest 10 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 accountmg of the Funds showing credits and Jchits to the Funds anu the
<br />purpose for which each debit to Ihe Funds was made. The Funds are pledged as additional security for the sums secured
<br />hy Ihis Deed of Trust,
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds. payable prior H)
<br />the due dates of taxes, assessments, insurance premiums and ground rents. shall exceed the amount reqUIred 10 pay said taxes.
<br />assessments, insurance premiums- and ground rents as they fall due. such excess shall bc. at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments ~)f Funds. ff Ihe amount of [he Funds
<br />held by lender shall not be sufficient 10 pay taxes, assessments. insurance pre~ruums and ground rents as lhey fall due-,
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency wlthm 30 days from the date nmice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in fuB of all sums secured by thiS Deed of Trust. Lender shall promplly refund ~o Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Property 1$ sold or the Property IS .otherwlse acqUIred by Lender. Lender
<br />shall apply, no later than immediately prior (0 the sale of thc Property or ,its acqUIsition by Lender, <tny Funds held oy
<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 pllwides otherWise. all paymenls received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lender first," paymenl of amounts payable to Lemler hy Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note. then to the principal of thc Nole. and then 10 interest and
<br />principal on any Future Advances.
<br />4. Charges; Liens. Borrower shall pay all taxes. assessmenls and olhcr charges. fines and Imp<l<;ltions ;ltfributable III
<br />the Property which may altain a priority over Ihis 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 payment. when due, directly
<br />to the payee thereof. Borrower shall promptly furnish (0 Lemler all notices of amounts due under this paragraph, and in the
<br />event Borrower shall make payment direcrly, Borrower shall promptly furnish to Lender recelpts eVldcnclIlg slIl'h payments.
<br />Borrower shan promptly discharge any lien which has pnorilj over t~IS Dc~d of Trust: prOVIded. lhat Borwwcr "hall not he
<br />required to discharge any such lien so long as Borrower shall agree In wrillng to the payment of the ohilgatllln secured by
<br />such lien in a manner acceptable to Lender, or shall 10 good fallh contest such he~ by. or defend ~nfon:cmcnt of slIch lien 10.
<br />legalf.roceedings which operate to prevent the enforcement of the hen or forfeiture of the Property or any pan thereof.
<br />. Hazard Insurance. Borrower shall keep the Improvements now C\ISlIng or hereafter erected on !he Property insllrcd
<br />against loss by fire, hazards included within the lerm .'extended coverage", anu such orhcr hazards as ~.cnd("r may rcqlllr~
<br />and in such amounts and for such periods as Lender may reqUIre. pro\'lded. that Lemler "hall not rcqulrt: ihat the amount 01
<br />such coverage exceed that amount of coverage reqUIred to pay the sum... secured hy thIS Deed t.lt Tmst
<br />The insurance carrier providing the insurance shall be chosen hy Borrower surnert fl.) approv.d hy lender: provldeu.
<br />that such approval shall not be unreasonably withheld. All premiums on Insurance policies shall he paid in the manner
<br />provided under paragraph 2 hereof or, if nOl paid in such manner, by Borrower making payment. when due. directly to the
<br />insumnce carrier,
<br />All insurance policies and renewals thereof shall be in form acceptable to. Lender and shall Include a srandard mOrlgagc
<br />clause in favor of and in form acceptable to Lender. Lender shall have the nght to holJ rhc policie~ and renewals thereof.
<br />and Borrower shall promptly furnish to Lender all renewal notices and all receIpts of r~lIJ premium~. In the event of lo:'is.
<br />Borrower shall give prompt notice to the insurance carner amI Lender. Lender may make proof of los~ d nm made promptly
<br />by Borrower,
<br />Unless Lender and Borrower otherwise agree in writlllg. Insurance proceeds ..hall be applied 10 ft.:'swration or repair of
<br />the Property damaged. provided such restoration or repair is ~conorlll.:ally feaSible ,md the 'iec.:mity of thl~ Deed of Trust I"
<br />not thereby impaired. If such restoration or repair is not economically feaSible nr If the ...cc.:unty of thi" Deed of Trust would
<br />be impaired, the insurance proceeds shall be applied 10 the sums s.ecured hy this Deed of Trust. Wllh the C\TCS\. If any, paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Borro,,"cr fails to respund to Lender V.lthlO 30 days from thl.:
<br />date notice is mailed by Lender to Borrower that the insurance t:arner otTt.'rs 10 settle a daml for lII~urancc b{'!Icfil'i. l.ender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to reslQrallOn or repair of Ihe Prnpen)
<br />or to the sums secured by tbis Deed of Trust.
<br />Unless Lender and Borrower otherwise agree In ''''TIling, any such application lIt' proceeds to prmc.:ipal ..hall not extend
<br />or postpone the due date of the monlhly installments referred h) in paragraphs I and ~ hcrcol IJf change the amollnt of
<br />such installments. If under paragraph I H hereot the Properl~ 1':'< aC411lfcd hy l.ender. ~dl right. title ~lOd mtcn.:"t 01 BOlTtlwt.'r
<br />in and to. any insurance policies and in and to the. proceeos thereof fC~UltlOg from ~amagc 10 the Prppcf(Y poor 10 Ihe .'l.alc
<br />or acquiSition shall pass to Lender to Ihe extent 01 the sums sc..:ured hy lhlS Dced l)l Tru~t Immediately pnor Il) \uch sale or
<br />acquisition.
<br />6. Preservation and Maintenance of Properl}': Leaseholds; Condominiums; Planned Unit Ue\'elopments. Borrower
<br />shall keep the Property in gooJ repair ..tInl "hall ntH ,:t'I111111t \I,.l:-.te ~l! pt.:rnlll impLlIl!ll1'1l1 lH" lktl'fKH.Hi~lll df the Propt.::rl}
<br />and shall comply with the provisions of any lease if this Deed (11' TrU~1 is t)(] a lea:o.chold. It thi~ Deed 01 Trust l~ on a lllllt in a
<br />condominium or a planned unit developrnent. Borrower shall periorm :ill of Borrower\ ohhgatJOns IlfHJer the de...:lar.ltltlll
<br />or covenants creating or governing the ..:ondommiurn or planned unit uc\clopmcnt. the hy-law~ ;ll1d regulation.. \\t the
<br />condominium or planned unit development. and (,;ollslltuent documents. If a ":l1ndommium. \)f plallot.'J lllll! dcvd(lpmCnl
<br />rider is executed by Borrower and recorded IOgether wllh thls Deed of rrllSt. thC' ';O\lcnants and .lgrcclHcnl:o. III ..uch nuef
<br />shall be incorporated into and shall amend and supplement the covcnallb and agreements ot thi:>. Deed \It Tnl..t ,l~ If the ridel
<br />were a part hereof.
<br />7. Protection of Lender's Se\:uril)'. If Borrower tails to perform the covcnants and :.tgrcemcnt.. l.nntalllcu in lhi..
<br />Deed of Trust, or if any action or proceeding is commenced which malenall}. atfecls Lender"s inlcrc:\t in the Property.
<br />including, but not limited to. eminem domain, insolvency. code enforcement. or arrangements l,)r proc('cdlllg~ 1Il\'olv1ng :1
<br />bankrupt or decedent. then lender at lender's option, upon nOtice to Borrower, may make such .lrpe~lrancc.\. dl'lhursc :-ouch
<br />sums and take such action as is necessary to protel.t Lcnder\ intcre~l. mcJudmg. hut not 11lnitcJ Ill. dl.\blH'lCmellt 01
<br />reasonable attorney's fees and entry upon the Propert)' 10 make repairs. If Lender rC4uired mong<tgc lIl'->lIf(JllCC a\ <l
<br />condition of making the loan secured by this. Deed of Trust, Borrower shall pay the premiums required to mamtaln :-ou-.::h
<br />insurance in effect until such time as the requlremefH for such insuranc.:e terminates in accordance with Borrower\ .IlKl
<br />Lender's written agreement or applicable law, Borrower shall pay thc amount ot all ll1ortgac.c Insurance orcmil.lms in the
<br />manner provided under paragraph 2 hereof. ' "
<br />. Any amounts disbursed by Lender pursuant to this paragraph 7. wllh Inlerest thereon. shall become additioni.li
<br />mdebtedness of Borrower secured by this Deed of Trust. Unles~ Borrower and Lender agree to uther tcnll:-. ot pavment. 'llI::h
<br />amounts ~hall be payable upon notice from lender to Borrower requesting payment thereof. ;IIlU shall hear lmeresl iWIll Ihe
<br />date of disbursement at the rate payable from time to time on outslanding principal under Ihe NOle lInlcs~ navrnent of interest
<br />at su~h. rate would be, contrary to ap~1icable l~w, if? wh.ich event o;;uch .lmounts shall beal mtcre<;\ ,it "the highest rate
<br />pcrmlss.lble under apphcable law. NOlhmg contamed Itl thiS paragraph 7 shall rcquir~ Lender to ,"cur .lD\' expense or take
<br />any actIon hereunder.
<br />&. IIb.-pedion: lender may m~ke or cause to be made rea~unable entn~s ilp<-l1l and m'lpt:L"llons oj till.' Pftlpcrty. pro\ IdeJ
<br />~hal Le~der shall give Borrower IloUee prtor to any such IOspeclton specifYlOg reit~l..)nah!c C;J,U\i.' lhcrdol r~lateu h) Lt.:'ndcr\
<br />mtefcst m lhc Propenv.
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