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py~A}.._.000909 L'^+moamt CovttrvanTS. Borrower :md Lender covenant and agree as (olluws: 1. Payment of Principal and interest. &+rrnwer shay promptly pay when due the prutcipal of and interest on the utdebtedncss evidenced by the No[e, prepayment and Irate charges as provided m the Note, and the principal of and interest nn any Future AJexnces secured by this Ueed of Taut. 2. Funds for Tares and Insoronre. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender nn the d:ry monthly installments of principal and interest are payable under the Note, until the Note is paid in full. a sum (heron "Funds") equal to one-twelfth of the yearly taxes and assessments which may a«ain prority over this Used of Trust, and ground rents nn the Property, it any', plus one-twelfth of yearly premium installments for hazard insurance. plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by Lender nn the basis of assessments and bills and reasonable estimates thereof. The Funds shad! be held in an institwion the deposits or accounts of which are insured or guaranteed by a Federal or state agency (including Lender if Lender is such an instiunionl. Lender shall apply the Funds to pay said taxes, assessments. insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account nr verifying and compiling said assessments and bills, unless Lender pays Borrower interest nn the Funds and applicable law permits I ender to make such a charge. Borrower and Lender may ogres in writing at the time of executeort of this Decd of Trust that interest on the Funck shall be paid m Borrower, and unless such agreement is made or applicable law requires such incerest to be paid, Lender shall not be regwred to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Dced of Trust. If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the Juc dates of saxes. assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes. assessments, insurance premiums and ground rents as they fall due. such excess shall he. at Borrower's option, either promptly repaid to Borrower or credited to Borrower nn momhly installments of Funds. If the amount nC the Funds held by Lender shall not be sutticient to pay taxes, assessments. insurance premiums and ground rents as they fall due. Borrower shall pay to Lender any amount necessarv m make up the deficiency within 30 days from the date notice is mailed by [_ender to Borrower requesting payment thereof. Upon payment in full of all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower anyFunds held 6y Lender. If under paragraph Ig hereof the Property is sold or the Property is otherwtse acquired-by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by 1_ender at the time of application as a credit against the sums secured by this Deed of Trust. 3. Application of Payments. Unless applicable law provides otherwise, ail payments received by Lender under the Note and paragraphs I and 2 hereof shall be applied 6y I-ender first m payment of amounts payable to Lender by Borrower under paragraph 2 hereof, then to interest payable on the Note. then to the principal of the Note, and then to interest and principal on any Future Advances. 4. Chartres: Liens. Borrower shalt pay all razes assessments and other charges. fines and impositions attributable to the Property which may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any, in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, dtrcetly to the payee thereof. Borrower shall promptly furnish to Lender all notice, of amounts due under this paragraph, and in the- event Borrower shall make payment directly. Burrower shall promptly furnish to Lender receipts evidencing such payments. Borrower shah promptly discharge any lien which has pnority over thrs Ueed of Trust; provrded, that Burrower shall not be required to discharge any such lien so long as Bon-ower shall agree in writing to the payment of the obligation secured by such lien in a manner acceptable ro 1_ender, or shall in good faith contest such lien by, or defend enforcement of such lien in. legal pproceedings which operate to prevent the enforcement aF the ben or forfeiture of the Property or any part !hereof. 5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage", anti such other hazards as Lender may require. and in such amounts and for such periods as Lender may require, provided, that Lender shall not require that the amount"-of such coverage exceed that amount of coverage requued to pay the sums secured by this Deed of Trost. The insurance carrier providing the insurance shall be chosen by Borrower subject to approval 6y f_ender: provided. that such approval shalt not be unreasonably withheld. All premiums on insurance policies shall be paid in the-manger provided under paragraph 2 hereof or, it not paid in such manner, by Borrower making payment, when due, directly to the insurance carrier. All insurance policies and renewals thereof shalt be in form acceptable w Lender and shall include a standardmortgage. clause in favor of and in form acceptable to Lender Lender shall have the right to hold the policies and renewals iheregf. and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss.. Borrower shall give prompt notice to the insurance carrier and Lender. Linder may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repairof the Property damaged, provided such restoration or repair is economically feasible and the security of this-Deed of Trilst is not thereby impaired. If such restoration nr repair is not economicagy feasible or if the security of [his Deed of Trust wo~l8. be impaired, the insurance proceeds shall he applied to the sums secured by this Deed of Trust; with the, excess, if any, _Paid- to Borrower. If the Property is abandoned by Borrower, or if Borrower tails to respond to Lender within 30 days from-._the date notice is malted by Lender to Burrower that the insurance carrier offers to se«le a claim for insurance benefits;-Lendet- is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property or to the sums secured by this Decd of Trust. Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principalshalf not-extend- or postpone the due dale of the monthly installments referred to m paragraphs I and 2 heregf or change-[he amqunl;,gf such installments. If under paragraph 16 hereof the Property is acquired by Lender, all righh title and-.interuC:-of Borriwer ~- in and to any insurance policies and in and [o the proceeds thereof resulting from damage to the Property -prior to dhe-sale- or acquisition shall pass to Lender to the extent of the sums secured by this Deed of Trust immediately prgrdo such sale.tir acquisition. 6. i?reservatlon and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developetenk. Borrower shall keep the Property in good repair and shall not commit waste or permit impairment ar deterioration;gf the, Property and shall comply with the provisions of any lease of this Decd of Trust is on a leasehold. Tf Ihis Deed of Trust is on a uniten..a condominium or a planned unit development, Borrower shall perform all of Borrower's obligations- under thedeelarftit5q~- or covenants creating or governing [he condominium or planned unit development,-the by-laws and regulationsofthr-- condominium or planned unit development, and constituent documents. If a condominium or planned- un«,develgpmgnf. rider is execP(ed by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such rider shall be incorporated into and shall amend and supplement [he covenants and agreements of this Deed of Trust as if therider- - were a part hereof. 7. Profeclion of Lender's &curily. If Borrower fails to perform the covenants and agreements contained in this Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Property, including, but not limited to, eminent domain, mspivetrcy, code enforcemem, or arrangements- or proceedings involving~.a. bankrupt>or decedents theai,ender at Lender's option, upon agues to Borrower, may make such appearances, disburse-such- sums attd take such. ectign as is necessary to protect Lender's interest, including, but not. limited- to, disbursement oC reatttiniible attgrrtey`s fees- and entry upon the Property tq make repairs. If Lender required mortgage insurance as a condition of making the loan secured b this bend of Trust, Borrower shall pay the premiums required to maintain such insurance in effect until such time as rho requirement for such insurance terminates in accordance with Borrower's and -,endeCs written agreement or applicable caw, Harrower shah pay the amount of all mortgage insurance premiums in the marutu provided under paragraph 2 hereof. AMrtyy amnttuts disbursed by !.ender pursuant to this paragraph 7, with inrerest thereon, shag become additions( indebtedness of Borrower secured by this Dead of Trust, Unless Borrower and Lender agree tq ether. terms o! payment, such _ atrtottnfs shalt be payable upon nonce [tom Lender to Borrower requesting payment thereof, and steal! hear interest from the date of-tfisbursemept at the~rate payable from time to time an outstanding prtnctpat under the Note unless payment of interest at sgch eft! would be contrary to applicable law, in which event such amounts shall hear interest at the highest rata pe[migiblo tuutaq fppiicable taw. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereottder. g. frrz/a9lu~: 1,enebtr may make or cause to be made reasonable entries upon and inspections of the Properly, provided tire[ I,.errder shaB.give Borrower notice prior to any writ inspeauon spextifying reasonable cause theretnr restated to Lender's intereu 'tn the Property.