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<br />Uurfott-s Covatsawra. Borrower and Lender covenant and agree az follows: ~~ ~j " 0 6.1+
<br />t. ltiPmar a/ PrlarlPal and Islesar. Borrower shall promptly pay when due the principal of and interest on the
<br />irrdebtedrtea evidenced by the Note, prepayment and late charges as provded in the Nae, and the principal of and interest
<br />on an Fmurc Advances secured by This Dent of Trust.
<br />1 !'atdr far Tr W hawtree. Subject to ttpplleshk law or to • written waive by Lender, Borrower dull pay
<br />to Lender on the day monthly imtallments of principal and interest :rc payabk under the Note, until the Nolc is paid in full.
<br />a sum (herein "Ftwda") egwl [o one-twelfth of the yearly lazes sad assessments which may attain priority over this
<br />Deed of Trent, and ground renu on the Property, if any, plus one-twelfth of yeuly premium installtnenu for hazard rnsurana,
<br />plu one-twdith of yearty premium installments for mortgage insuntrtt, if any, all as rcasonabty estimated initially and from
<br />time to time by Lender on the basis of asaessmenu and bills and reasonable comets thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which arc inured or guaranteed by a Federal or
<br />craw agency (including Lender if Linder is such an institution). I.-ender shall apply the Funds to pay said taxes, assessments.
<br />imunnce premiums and ground rents. Lender may rat charge for so hokding and applying the Funds, analyzing said account
<br />or verifying and compiling avid assenments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />pennies Lender to make such a charge. Borrower and tender 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 such agreement is made or applicable law
<br />requires such interest to he paid. Lender shall not 6e required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, withom charge, an annwl aamrnting of the Funds showing credits and debits to the Funds and the
<br />ppuurptue for which each debit ro the Funds was made. The Fonda are pledged u additional security for the soma secured
<br />by Chia Deed of Trwt.
<br />If the amount of the Funds heed by Lender, together with the future monthly imtallmenu of Funds payabk prior to
<br />the due dates of taxes, assessments, irounna: premiums and ground tens, shall exceed the amount required to pay said taxes.
<br />asaasmenu, imunnce premiums and ground rents as they (all due, such excess shall be, at Borrowers opton, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installmenu of Funds. If the amount of the Funds
<br />held by Lender shall trot be suB'icient to pay taxes, assessments, insurance premiums and ground rents az they fall due.
<br />Borrower shall pay to Lender any amount rreceasary to make up the deficiency within 30 days from the date nmice rs mailed
<br />by Lender to Burrower rcgrratiag payment thereof.
<br />Upon payment le full of all sums secured by the Deed of Trust, Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph I8 hereof the Property is sold or the Property +s otherwise acquired by Lender. Lender
<br />shall apply, no later than rmmedutdy prior to the sale of the Property or its acquisition by Lender, any Fonda heW by
<br />Lender at the time of ication u a credit apinst the sums secured by this Deed of Trust.
<br />7. APNkallaa Unkxs applicable law provides otherwise, all payments received by Lender under the
<br />Note and puagraphs 1 and 2 hereof shall 6e applied by Lender first in payment of amounu payable Io Lender by Borrower
<br />under puagraph 2 hereof, then to interest payabbkk on the Note, then to the principal of the Note. and then to interest and
<br />prirtcr-m) on any Future Advances.
<br />~4[.. CYaaBaq IJe~. Borrower shall pay all taxes, assessments and other charges, fines and impositions atlribulabk to
<br />tiro Property which may attain a priority over this Dad of Trust, and leasehold payments or ground renu, if any, in the
<br />meaner 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 notices of amounts drre under this patagnph, and in the
<br />event Borrower shall make payment directly, Borrower shall promptly furnish to Lender rcceipU evidencing such payments.
<br />Borrower ahW promptly disclrar~e any Ikn which haz priority over this Eked of Trust; provided, that Borrower shall not I+e
<br />required to discharge any :uch Iten so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a mangier acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in.
<br />legal pm~dinga which operate to prevent the enforcement of the lien or forfeiture of the Properly or any part thereof.
<br />S Bfaaad Lwrastte. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />agairu[ lass by fire, hazards included within the term "extended coverage", and such other hazards az Lender may require
<br />and im such amounu and for such periods as Lender may require; provided, that Lender shall na require that the amount of
<br />streh coverage exceed that amount of coverage required to pay the sums secured by this Dent of Trust.
<br />The imunnce rattler providing the insurance shall be chosen by Norrower subject to approval by lender; provided.
<br />that wa6 appoval shall not be unreasonabty withheld. All premiums on imurance policies shall be paid in the mariner
<br />provided wader praaaph 2 hereof or, if not paid in srrch manner, by Borrower making payment, when due, directly to the
<br />imuraaoe canier.
<br />All irmrtarrtx pdicies and renewals thereof shall be in form accepuble to Lender and shall include a standard mortgage
<br />deuce in favor of and in form accepubk 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 anJ all receipts of paid premiums. In the event of loss.
<br />Borrower shall give prompt notice to the inwnrrce carrier and Lender. Lender may make proof of loss if not made promptly
<br />by Borrower.
<br />Unktas Lerder and Borrower otherwise agree in writing, insurance proceeds shall bo applied to rstonlion or repair of
<br />the Property damaged, provided such restoration or repair rs economically feasi6lerrd the security of this DeeJ of Trust is
<br />not thereby impaired. 1[ such raloralioa or repair is not economically (eaabk or if the security of this Deed of Trust would
<br />6e impaired, the irourance proceeds shall be applied ro the sums secured by this Dced of Trost, with the excess, if any, paid
<br />to Borrower. If the Property is abarabned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
<br />date rrolice is mailed by Lender to Borrower that the insurance carrier offers w seek a claim for insurance benefits, Lender
<br />is wthorised to collect sad apply the inuarance proceeds at Lender's option either to rstontian or repair of the Property
<br />or to the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such application o[ proceeds to principal shall not extend
<br />or postpone the due date of the monthty insuilmems referred to in paragraphs I and 2 hereof or change the amount of
<br />such mstallrrtenla. If udder paragraph I8 hereof the Property is acquired by Lender, all right, title and interest of Bovower
<br />in and to any insurance policies anndd rn and to the proceeds thereof reselling from damage to the Property prior to the Sala
<br />or acquisition shall pass to Lender to the extent o[ the wins secured by this Deal of Trust immediately prior to such sale or
<br />acquisition.
<br />f. PnaerssraYsa seed Mals4esase of PraPerry; Leaaehokls; Cardoarleirs.e; Plaaeed UaN DevcisPraeals. Borrower
<br />shall keep the Property in good repair and shall rain commit waste or perms impairment or Jeteriorauon of the Properly
<br />and shall comply with life provision of any lease if this Deal of Trust is on a leasehold. If this Deed of Trust is on a unit in a
<br />cortdominirun or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration
<br />or covenenu ctuling or governing the cotdominium or planned unit developmem, the by-laws and regulations of the
<br />cartdomioium or plaomed unit devebpmem, and conslituem documents. It a condominium or planned unit development
<br />rider is executed by Borrower and rerorded rogether with this Deed of Trust, the covenams and agreemenu of such rider
<br />shall 6e irtcorponted into and shall amend and wppkment the covenams and agrtemenu of this Deed of 'i rvU as if the rider
<br />seers a pre hereof.
<br />7. Psseacslsa al LeaaePa Ssceeily. I[ Borrower fads to perform the covenams and agreements contained in this
<br />Dead of Trttat, or it any action or proceeding is commenced which materially aBects Lenderi inters! in the Property,
<br />including, but not limited to, eminent domain, insolrency, code enforcement, or arrangements or proceedings involving a
<br />badtNpl or duedent, than Lender al Lerder's option, upon notice to Borrower, may make such appearance, disburse such
<br />soma and eke such action az is necessary to pprrotect Lender's interet, including, but not limited to, dishursenxm of
<br />reaaorubk attorney's tea and entry upon the Property to make repairs. If Lender required mortgage insurance as a
<br />canditiorr of making the loan secured byy thts Deed of Trust, Borrower shall pay the premiums required to maintain such
<br />iarrrarsce in erted un4l such time az the requirement for such insurance terminates in accordance with Borrower's and
<br />Leader's writkrt agreement or icabk law. Borrower shall pay the amount of all mortgage insunrce premiums in rho
<br />marsrrr Provided under p-6 2 hereof.
<br />irrrNM rfy aslOUWa d~aby Loader purauans to this paragraph 7, wish inters! thereon, shall become additions!
<br />ednsiw of Borrower second by this Dsad of Trnst. Unless Bornwer and Lender agree ro other terms of payment, such
<br />arrroireda shYl be payabks upon notice (ram Larder to Borrower requesting payment thereof, and shall bear infarct from the
<br />daNOldfiluraalwaM at the nu payabk from time to time on omstanding principal under the Notes unto payment of interest
<br />M awdt rate wadd be contrary to appltcabk law, in which event such amounts shall bear interest at the highest rate
<br />perntiltiibb wrdar a)tplicabk taw. Nothing contained in that paragraph 7 shall raluiro Lerukr to itttair •nY. upema or take
<br />say nylon heretrndar,
<br />•. Peat ftseYars. Lender may matt or cauta to be made rcasonabk rntrias upa~n anil rmpectiom q~:}~ , provided
<br />Chef !,ender shall gins Borrower notice prior W any such irrspatiun cpecifying rasonabk cause tkwte~or ey()r~a~ lu Lemter's
<br />IaNrsN is the Proesety. -
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