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8~~--a i~t~0625
<br />t'^rur•ast Covevanis. Borrower and Lender covenant and agree as follows:
<br />I. Payment of Principal and Interest. Borrower shall promptly pay when due the pnncipal of and interest on the
<br />:ndchtedncss csrdenccd by the Nnte, prepayment and late charges as pmvtded m the Note, and the prinnpal of and interest
<br />nn any Fuwrc .4.Is noses vccun•d by tors Deed of f rust.
<br />2. Funds ter 'Faxes and Insurence. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />ar Lender nn the d:ry monthly installmetns of pnncipal :mil interest arc payable under the Note, until the Note is-paid in.fnll,
<br />a sum (herein "Funds'I equal to one-twelfth of the yearly taxes and assessments which may attain priority Aver"this
<br />Uecd of Trust, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for-hazard •InsuranCe.
<br />plus one-twelfth of yearly premium installments for mortgage insurance, it' any, all as reasonabty estimated initially and from-:
<br />tame to time by Lender on the basis of assessments and hills and reasonable estimates thereof. ~ -
<br />The Ftinds shaft be held in an institution the deposits or accounts of which are insured or guaranteed-bg aFgdtral or
<br />gate agency pncluding Lender if Lender is etch an institution/. 1_ender shall apply the Funds to pay Said taxe4;assessments.
<br />rnsur.mce premiums :mil ground rents. Lender may not charge for so holding and applying the Ftinds, analyzingsaid dccount
<br />or verifying and compiling snit assessments and h[Ils, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits 1 ender to make such a charge. Borrower and lender may agree in writing at the time of execution of this
<br />Deal of Trust that interest on the Funds ,hall be pand to Borrower, and unless such agreement is made or applicable-law
<br />reginres such interest to be paid, I ender shall not be required W 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 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-aurna'seeored
<br />by th+s Dced of Tn.ist. -
<br />If the amount of the Funds held by Lender, ingather with the luture monthly installments of Funds payable prior [o
<br />the due dates of taxes, acsesments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes.
<br />.rssessmtnts, insurance premmms and ground rants as they lull Jue, such excess sha0 be, at Borrower's option, either
<br />promptly repanl to Horrower ur reedited to Borrower nn monthly installments nt Funds. If the amount of [he Fonda
<br />held M Lender shall not he sutticrent to pay rases, assessments. insurance premiums and ground rents as they fall due;-
<br />Borrower ,hall pay w Lender any smount necessary to make up the deficiency within 30 days fmm the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in lull if all sums secured by rtis Ch;ed of Trust. Lender shall promptly refund to Borrower any Ftinds
<br />held by Lender. If under paragraph 13 hereof the Propert}~ r, Bold or the Property is otherwise acquired by Lender, Lender
<br />+hsll apply. no later than unmediately poor to the ,ale of the Property or its acyuisition by Cender, any Funds held by
<br />Lender at the time of nppbcation as a credit against the sums secured by this DeeJ of Trust.
<br />3. Application of Payments. Unless apphcablc L,w provndes otherwise, all payments received by Lender under the
<br />Note anJ paragraphs I and ~ hereof shall br applied hp Leader first ro payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable. rm the Note, then ur the principal of the Notc, and then to interest and
<br />principal on any Fuuue Advances.
<br />J. Charges; Liens. Borrow•cr shall pay all risrs.:nsessments anJ other charges. fines nits! impositions attributn6le to
<br />the Property which may attain a pnonry over thrs Geed of Trust, and leasehold payments or ground rents, if any, in the
<br />manner provided under paragraph 2 hereof nr. if not paid in such manner. by Burrower making payment, when due, directly
<br />to the payee thereof. Borrower shall promptty furnish to Lender alt onuses of amounts due under this paragraph, and in the
<br />event Borrower shat! make payment threctly, Borrower shall promptly f urntsh to Lender recenpts eviilencing such payments.
<br />Borrower shall pa?mptly discharge any hen which has prority m-er rhi, Decd ut Lrusr, provrded, that Horrower shall not 6e
<br />reyinred to discharge any such hen w lung :r, Borrawcr shall agree rn wntine n, the payment of the obligation secured by
<br />such hen m a manner acceptable to 1 ender, nr shall m gooil Loth contest such fern hy, or defend enforcement of such lien in.
<br />Icgai proceedings which operate to prevent the enh,rermrm of rhr hen or iorfciuire of the Propert}• or any part thereof.
<br />5. Hazard Insurance. Borrow cr shall keep the tmpnrvnments now esrsung er hereafter erected on the Property insured
<br />against loss by fire, hazards uicluded within [hc term 'rstcnded coverage". ;mil such other hazards as Lender may require
<br />and in such amounts and for such penods as I eerier msy nymre: prnvnded. than Linder shall not require that [he amount of
<br />such coverage exceed that amount of uweraec reymn•d w p,i+- the sums secured h} this Derd of Trust.
<br />"I'he insurancr earner pit^v riling the iuvuanre ,hall b~ ~trnsen he Burrmver subject to approval by Lender; provided.
<br />that such approval shall not he unreasonxhh• svuhhcld All premuuns on nmurmcs pobcies shall he paid in [he matttser
<br />provided under paragraph- boreal er, d out pand m such ;Wanner, bs Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance poLcies nod renewals ther_•ot shall hr in to+m acsepiable ur Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable ro Lcndrr I ender ,hall h;nc the nght to hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish to f enJcr ..ii reurw al uourc, anJ alt n•errpts of part premiums. In the event of loss.
<br />Borrower shall give prompt nonce ui the mauarne ..ir:er .end I enJcr LcnJer ma} make proof of loss d not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower rnherwrse agree m u nu ng, ~.::,w niter pr o~crJs ,hall hr applied to restoration or repair of
<br />the Property damaged. pros-rdrJ suci~ resterat a-n „r :spate r, c,.rnunueally icasrhic ,mil the ,enmity of thu Deed of Trust is
<br />not thereby rmpanreJ. II such maortuon on rc•pa~r :, nut econevnn,Jiy rcavble ur it the xruniy u( this Deed of Trust would
<br />he +mpaired, the insurancr pnnerds shall he appined to the sum, ,soured by the [)cad of 1-rust, wuh the e~ccss, sf any. paid
<br />to Borrower. if the Property :, abandoned by Borrower, ;.r tf Horrower farts u, re,pond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the :Hsu ranee earner otfrn to settle a rlarm for insurance benefits. Lender
<br />its authorized to collect and apply the insurance pro..rsd, at t rnder~s npwon tuber to restoration or repair of the Property
<br />or to the sums secured by this Deed of Trust.
<br />Unless Lender and $orrnwer otherwise agree rn witting, am such appiic.+uon of proceeds to pnncipal shall not extend
<br />or postpone the due date o[ the monthly mstalhnruts rater reJ ro m paragraphs I and ?hereof or change the amount of
<br />such installments. If under paragraph I M hereof the Property n acgmrcd h} Lender, all nghl title and interest of Borrower
<br />m and ro any insurance pohrnes and m and m the proceeds thereof resulting from damage to the Property poor to the sole
<br />or acyuisition shall pass tit LcnJer to the extent of the Hums secured by thu Dred of 1 rust immrdrately prior to such sale or
<br />acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />shay keep the Property m grx~d «•pa,r and shall not unmoor waste w pcrn:rt mtpmr moot or detenormon nl the Property
<br />and shall comply with the provisions of an}' lease rf this Deed cf Tnrat r, o^ a Icasshold. It this Decd of Trust its on a unit to a
<br />condominium or a planned unit development, Borrower shall pecfarm all of Borrowers ohligauons under the declaration
<br />ur covenants creating or governing the condnmuuum or planned unit development, the by-laws :mil regulations of the
<br />eoodominium or planned unit development, and cuasutuent documents. If a condominium or planned unit development
<br />rider is executed by Borrower anJ recordeJ mgsther wuh this Deed of tout, the urvenants and agreements of such rider
<br />shall be incorporated into and shall amend and supplement the covens nn and agreements a( this DecJ nt trust as d the nJer
<br />were a part hereof.
<br />7. ihotection of Isnder's Security. if Borrower ;ads to I>t;r form rhr covenants and agreemenn rontamsJ in this
<br />Decd of Trust, or if any action or prceerd mg s mmmsncrJ which neatcnally elfesb 1 rndsrs :ntere,t m rhr Property,
<br />including, but not limited to, eminent domain, insaivene}, cede enforcement, or arrangements or proceedings involving a
<br />banktvpt or dceedmt, then Lender at Lender's option, upon notice u> Horrower, may make such appearances, Juhurse such
<br />sums and take such aciian as is necessary to rutea Lenders interest, including. but not hooted u., dist+ursement of
<br />reasonable attarney's fees and entry upon the Property to make repairs It Lcndrr reyuusd mortgage insurance as a
<br />candilion of ma-ing she loan secured by this Deed of Trust. Horrower shall pay the premiums required to maintann wch
<br />insurance in effect until such time as the requirement for such msurmce tennmatcs m accordance with Borrower's and
<br />Loader's written agreement or applicable law. Borrower shall pat tfie amount of all mortgage inxaratuc prem,ums .n the
<br />manner provided under paragraph 2 hermf.
<br />My arttuunts d[sbuncd by bender pursuant to rh+s paragraph 7. wuh interest thereon, shall tx:come addumnat
<br />+ndebttmdrress of Borrower secured by this Desil of Trust. Unless Burrower and 1 ruder agree to other loons of payment, rich
<br />amettnis shag bt payable upon nutics fn.m ! ~rnder to Harrower rcyuest,ng paymetn thereof. ar,J shall twat inter 5t Pram the
<br />diie of disbutaemtnt at t}x rate payable from lime k+ nine on uuts[an.iing prmcipal under the `vote unless payment of imerest
<br />at wch rate would ix contrary to applicable law, in wh+eh event such amounts shalt gear irrtcrsst at the hnghest rate
<br />perrnitailzla under applicable Eaw. Nothing contaeneJ m this paragraph ? shalt ieyu,re Leader to incur an} expense r:r take
<br />any action hereunder.
<br />X. ftttrgectkrn. l.r:ader may make et cautst u> hs mails masx,i+ahle ante+ea upon and rnstx.t;ons of the P,op+:, tv prey+rded
<br />ttsai ltnJct shalt gwe Borrower return poor in any such rnspeeuca spec+KYmg roa5omblr case therei,v rc•IeseJ +.+ t enJcr ,
<br />rntatcst +n the Proncrty
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