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y ~4..'."` 1J~09~0 UNIFORM CoveNeNTS. Borrower and Lender covenant and agree as follows: 1. Paymertt of Prineipd and interest. Borrower shall promptly pay when due the principal of and interest on the indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest on anyy Future Advances secured by this Deed of Trust. Z. Ftttnis for Toad and Ironrance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full, a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this Deed of Trust, and ground rents on the Property, if 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 on the basis of assessments and bills and reasonable estimates thereof. The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institutionj. 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 or verifying and compiling said assessments and bills, unless Lender pays Borrower tnterest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution-of this Deed of Trust that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law requires such interest to be paid, Lender shall not be required 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 [o the Funds and-the- purpou for which each debit to the Funds was made. The Funds are pledged as additional security for the sums uctued - by this Deed of Trust. If the amount of the Funds held by Lender, together with the future monthly installments of'Funds payable prior to the due dales of taxes, assessments, insurance premiums and ground rents, shall exceed [he amount required td pay-said.taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Bortower's option, either promptly repaid to Borrower or credited to Borrower on monthly installments of Fimds. If the amount of the- Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as theyfall:due: - Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the dates notice is mailed. by Lender to Borrower requesting payment thereof. Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any:Fuods - held by Lender. If under paragraph 18 hereof the Property is sold or the Property rs otherwiu 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 _6y. - - Lender a[ 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, all payments received by Lender under the- - Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable [o-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. CharEes; Liens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which may attain a priority over fits 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-.dut,.directly to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and-ioYhe~ event Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments. - Borrower shall promptly discharge any lien which has priority over this Deed of Trust; provided, that Borrower shall not be required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured.-by - such lien in a manner acceptable to Lender, or shall in good faith comes[ such lien by, or defend enforcement of such liemin. - legal PProceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thtrcof. 5. Harard 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", and such other hazards as .Lender mayfequire, -~- and in such amounts and for such periods as Lender may require: provided, that Lender shall not rctluire that the amount of ,- - such coverage exceed that amount of coverage required to pay the sums secured by this- Deed of Trust. The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by-Lender. proyideJ_--. - that such approval shall no[ be unreasonably withheld. All premiums on insurance policies shall-Ix paid in the-:manner _. provided trader paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directlytto the - insurance carrier. - - - All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include astandard mortgage, clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the-policies and-,renewals thereof: - 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. Lender may make proof of loss i( no[ made promptly - - by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration-or repair of the Property damaged, provided such restoration or repair is economically feasible and the security of this Deed of Tritst is. not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Deed of Tntst would- - be impaired, the insurance proceeds shall be applied ro the sums secured by this Decd of Trust, with the excess, if any, paid- to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender withim30 days from the date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits. Lender 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 13eed of Trust. Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone [he due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of such installments. If under paragraph 18 hereof the Property is acyuired by Lender, all right, title and interest of Borrower in and to any insurance policies and in and to the proceeds therevf resulting from damage to the Property prior to the sate or acquisition shat) pass to Lender to the extent o[ the sums secured by this Deed of Trust immediately prior to such sale or acquisition. 6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower shall keep the Property in good repair and shall not commit waste ar permit impairment or deterioration of the Property and shall comply with the provisions of any (ease if this Deed of Trust is on a leasehold, If this Deed of Trust is on a unit in a condominium or a planned unit development, Borrower shall perform al( of Borrower's obligations under the declaration or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the condominium or planned unit development, and constituent dcxuments. If a condominium or planned unit development rider is executed by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such rider shat! be incorporated iota and shalt amend and supplement the covenants and agreements of this Deed of Trust as if the rider were a part hereof. 7. Protection of Lender's Security. IF Borrower [ails to perform the covenants and agreements contained in [his 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, e-minent domain, insolvency, code enforcement, ar arrangements or proceedings involving a bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such sums and take such action as is necessary to protect Lender's interest, including, but not limited to, disbursement a[ reasonable attorney's fees and entry upon the Property to make repairs. if bender required mortgage insurance as a condition of making the loan secured 6v this peed of Trust, Borrower shall pay the premiums reyuired to maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. Borrower shalt pay the amount of alt mortgage insurance premiums in the manner provided under paragraph 2 hereof. Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall became additional indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other to nos of payment, such amounts shalt lx payable upon noire from Lender to Borrower reyuesting payment thereo€, and shall bear interest from the date of disbursement at the rate payable from time to time on outstanding principal under the Note wiles payment of interest at such rate would 6e contrary to applicable law, in which event such amounts shall bear interest at [fie highest rate permissible under applicable taw. Nothing contained in this paragraph 7 shall roquire Lender to incur any expense or take any action hereurtdcr. 8. Inspection, Lender may make ar cause to be made reasonable entrees upon and inspccuons of tha Property. provided that Lender shall give Borrower notice error to any such inspection specifying reasonable cause therefor related to tender's intcaest in the Property.