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~4 --.~ t~(,0744
<br />Urot~ottar Covatsatm. Borrower and Lender covenant and agrtt as follows:
<br />/. )ngtaent tt( hiaeigal !tad lateness. Borrower shall promptly pay when due the principal of and intcresi nn the
<br />irtdebtednw evidenced by the Nde, prepayment and late charges n provided in the Note, and the principal of and interest
<br />on any Future Advances sawed by this Deus of Trust.
<br />i D~tls tar Tatar aN Iwtace. Subject to applicable law or to ^ wriaen waiver by Lender, Borrower shall pay
<br />to Leffler on the day monthly intallments of principal and imerest are payable under the Note, until the Notc is paid in full.
<br />a wen (herein "Fonda") equal to one-twelftA of the yearly taxes and assessments which may attain priority over this
<br />Deed of Trust, and ground rents on the Properly, if any, phts one-twelfth of yearly premium installments for heard msunnce,
<br />pltrene-twelfth of yearly premium inaullments for mongagc insurance, i( any, all as reawnably estimated initially and from
<br />lime to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an intitution the deposits or accounts of which arc insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an institwion). Lender shall apply the Funds to pay acid taxes, assessments.
<br />' inwnnce premiums and ground rcrts. Lender may not charge for so bolding and applying fhe Fends, analyzing said account
<br />or verifying and compiling said assessments and bills, unless !.ender pays Borrower interest on the Funds and applicable law
<br />permits under to make such a chuge. Borrower and Lender may agree in writing at the time of execution of this
<br />Deed pf Trwt that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such enterer to be paid, Lender shall not bt 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 debits to the Funds and the
<br />purpae for which each debit to the Funds was made. The Funds arc pledged as additional security for the sums secured
<br />by this Deed o[ Trtut.
<br />It the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates o[ taxes, assesatrtents, imunnce premiums and ground rents, shall exceed the amount required to pay earl taxes,
<br />assessments, insurance premiums and ground rents as they tall due, such excess shall be, at Borrower's optton, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall not be sufficient to pay razes, 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 Lentkr to Borrower rcgtttxting payment thereof.
<br />Upon payment in toll of all wens secured by this Deed of Trust, Lender shall promptly refund to Borrower any Funds
<br />held by 1_ereder. tf under paragraph IS hereof the Properly is sold or the Property is otherwise acquired by Lender. 1_ender
<br />shall apply, no later than immedratety prior to the sale of the propeny or its acquisition by Lender, any Funds held 6y
<br />Lender at the time of application as a credit against the sums secured by thts Deed of Trust.
<br />~. Apglkatlaa d hytrteals. Untess applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall be appPlied 6y Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payabk on the Note. then to the principal of the Note. and then to interest and
<br />prinu'pal on any Future Advances.
<br />(( CNr=n; Ilea Borrower shall pay all tatts. assessments and other charges. fines and Impositions attributable to
<br />the lroperty which may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any, is the
<br />maaoer provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due. directly
<br />to Ute payee thereof. Borrower shall promptly furnish to Lender all trances of amounts due under this paragraph, and in the
<br />event rtosver shall make payment directly. Borrower shall promptly furnish to Lender rcceip4 evidencing such payrnems.
<br />Borrower shall promptly dixhar~e wy Ikn which has priority over this Ueed of Trust: provided. that Borrower shall not be
<br />required to discharge any such hen so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such Tien in a rrtanoer acceptable to Lender, or shall in goof tarth contest such lien by, or defend enforcement of such lien in.
<br />legal PProcedings which operate to prcvrnt the enforcement of the lien or [orfeiture of the Property or any part thereof.
<br />S. Hearst lawnate. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hoards included within the term "extended revenge ,and such other hoards as Lender may require
<br />and in srtch amounts and for such periods as Lender may require; provided. that Lender shall not require that the amount of
<br />welt 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 Lender- provided.
<br />that sttc6 approval shall trot be unreasonably withheld. All premiums em insurance polices shall be paid in the manes
<br />provided tttsds paragraph 2 hereof or, i[ not paid in strch manner, by Borrower making payment, when due, directly to the
<br />iosusapcc tatrsier-
<br />All inurance policies and rctxwals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />claret in favor of and in form accepuble to Lender. Lender shall have the right to hoW the policies and renewals thereof.
<br />and Borrows shall promptly furnish to Leoder al! renewal notices and all receipts of paid premiums. In the even of loss,
<br />Borrows tthall give prompt notice to the insurance carrier and Lender. Lender may make proof of lass it not made promptly
<br />6y Borroter.
<br />Unleso Lender and Borrower otherwise agree in writing, msurance proceeds xhall 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 Tnsat is
<br />not thereby impaired. if such restoration or rcpatr n not economically feasible or i( the security of this Deed of Trust would
<br />be impaired, the inunnce proceeds shall be appliut ro the sums secured by this Deed of Trust, with the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower frets to respond to Lender within 30 days from the
<br />date slice is maikd by Lender to Borrower that the insurance carrier offers to settk a claim for insurance benefits, Lender
<br />is authorized m collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Properly
<br />or m the sums secured by this Deed of Trust.
<br />Unless Lender and Borrows otherwise ague in writing, any such application of 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 amoum of
<br />such installmeots. If under paragraph 18 herco[ the Property is acquired by Lender, all right, title and interest of Borrower
<br />in and to any inurantt policies and m and to the proceeds thereof reulting from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the extrnt o[ the sums orated by this Decd of Trust immediately prior to such sale or
<br />acquisition,
<br />tL frasarvaslaa aa1 Malateataace of hstperty; LeasehttNs; Coesbriafaau; Pleased UaN DevtlapaseNS. Borrower
<br />shall keep tbe Property in good repair and shall not comma waste or prrmlt impairment or detcrionnon of the Property
<br />and shall comply with the provision of any kax i( this Decd of Trust is on a leasehold- If this Deed of Trent is on a unit in a
<br />condaninium or a planned unit developtneni, Borrower shall perform all of Borrower's obligations under the declaration
<br />or tpveoants creating or governing the condominium or planned unit development, the by-laws and regulations of the
<br />condominium esr planted unit deveioptrtenl, and comtituem documents. I(a condominium or planned unit development
<br />rids u eaauted by Borrows and recorded together with [his Deed of Trust, the covenams and agrttmems of such rider
<br />shall be incorporated info and shall amend and wppkment the covenants and agreements of this Deed of Trust as if the rider
<br />wen a part hereof.
<br />7, Tsasstllaa of Leaiela 9eeasNy. If Borrower fads to perform the covenants and agreements contained in this
<br />Deed Of Trml, or if any action or proceeding is commenced which materially affects Lender's inters! in the Properly,
<br />incindiag, but rat Limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
<br />bartkrnpt or decedent, then lender al Lender i ogion, open notice to Borrower, may make such appearance, disburse such
<br />earn and lake such action as is necessary to elect Lemkr's interest, including, but not limited to, disbursemem of
<br />tsatottabk attoravy's fee and entry upon the Properly to make repairs. If Lender required mortgage insurance as a
<br />cortdition o1 making the: loan xcueed by this Oced of Trust, Borrower shall pay the premiums required to maintain such
<br />inwrantY. in elect until such time u the requirement for surfs insurance terminate in accordance with Borrower's and
<br />Lsusder'a written agreetttrnt or appiit:ahk law. Borrower shall pay the amount of all mortgage inunnce premiums in the
<br />tnattoar provided ands paragraph 2 Irarsof.
<br />L Aayy amouaht duhuefed by lertder pttrswnt to this paragraph 7, with inters! thereon, shall hpconte additional
<br />irwlelNadnass of Borrower aoctued by this Dread of Tract. Unless Burrower and Lender agree to oUts.fertiti ~ pyment, such
<br />amotsap ibal! h! gayshk ypon ratice from Lender to Borrows requsting payment thereof, ands , -~y;lastlrst from the
<br />der M dlahstnetrtntt u the rate payable from tine to time on ouutanding prinnpal under the Note a rat of interet
<br />u Mtth rate westld be contrary to applicable law, in which even! such amounts shall bear ~ Milkiest rate
<br />anasliwtele t~tnde bk law. Nothing contaired in this paragraph 7 shah require Leader m arq ~rts tx take
<br />~,
<br />g. 1aspMlart. Lanekr may make ur tease to be made reasonable enuse:s srprsn and irtspectioisigr(~~, -ovided
<br />that I.cals skis! give Borrower r'otic6 prior tit anp such inspecti3n spcoifying rusanabk cause theYe(or b er's
<br />inrarcsa is ilia Propnty. -.
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