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<br />Utvtroax+ Coveruwrs. Borrower and Lender covenant and agree as follows: ~~ ~_ 1J11098Jr
<br />1. Paysaeat et PriaaipY sari lattrrpl. Borrower shall promptly pay when due the principal of and interest on the.
<br />mdebtednesa evidenced by the Note, prepayment and late charges as provtded in the Note, attd the principal of and'•intered~-
<br />on anyy Future Advances secured by this Deed of Trust. -.
<br />2. Fststi far Taal tri Istwr~ee. Subject to applicable -law or to a written waiver by Lender. Borrower shall ply
<br />to Lender on the day monthly installments of principal and interest are payable under tfie Note, tmtiPthb Hole is paid in full,
<br />a sum (herein "Funds") equal to one-twelfth of the yearly taxes and asaessttrenu which may attaitF ptior8y over -this
<br />Deed of Trust, and ground renu on the Property, if any, plus one-twelfth of yearly premium- installments-for ha~rrd insurance.
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated--initially and from
<br />Ume to time by Lender on tht basis of assessments and bills and reasonable estimates' ffieeeofl~ -- -
<br />The Funds shall be held in an institution tfie deposits or accounts of which-are-insured-.ot_I-guaranttxd by a Federal or
<br />stale agency (including Lender if Lender is such an insntutian). Lender shall apply thaFupdt:to pay said taxes, assessmenu,
<br />insurance premiums and ground rents. Lender may not charge for so holding.and applying--ahe`Funds, analyzing saidaceount
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower inteteslon'tlie"Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agrce- in wriBOg~-at.rhe'-time-of execution of this
<br />Deed of Trust that interest on the Funds shall be paid to Borrower, and unless such "agrcetltenl is trade or applicabk law
<br />requires such interest to be paid, Lender shall not be required to pay Borrower any-inteiesFOr earnings on the Funds. Lender
<br />shall give to Borrower. without charge, an annual accounting of the Funds showing credits and-"d"ebits to the Funds and the
<br />purpox for which each debit to the Funds was made. The Funds are pledged as additional security-for the sums secttred
<br />by this Deed of Trust. -
<br />Tf the amount of the Funds held by Lender, together with the future monthly installments of -Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exccedthcamounttequired to pay said taxes,
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall' be, at~BOlr4wer's option; either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If [he'-alnounc -of the Funds
<br />held by Lender shall not 6e sufficient to pay taxes, 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_notiee is mailed
<br />by Lender to Borrower requesting payment thereof. _
<br />Upon payment in full of all stuns secured by this Deed of Trust, Lender shall promptly refund. to-Borrowerany Funds
<br />held by Lender. If under paragraph 18 hereof the Propetty is sold or the Property is otherwise-acquired` by Lender, Lender
<br />shall apply. no later than immediately poor to the sale of the Property or its acquisition by Lendei;-any Fundsareld by
<br />Lender at the time of application as a credit against the sums secured by this Deed of Trust. - -
<br />3. Applkatba of Payrrsents. Unless applicable law provides otherwise, all payments received by Lender undeithe--
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lender frrsrin payment of amounts payable to Lender- by Borkower -
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Chat}les; Liars. Borrower shall pay all taxes, assessments and other charges, fines and impositions -attributable to.
<br />the Property which may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any, in the.
<br />manner 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 [.ender all notices of amounts due under this paragraph, and-in the
<br />event Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such paymenu.
<br />Borrower shall promptly discharge any lien which has priority over [his Deed of Trust; provtded. [hat Borrower shall rtol be
<br />regwred to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, or shall m good faith contest such lien by, or defend enforcement of such lien in.
<br />lagal proceedings which operate to prevent the enforcement of the lien or torfeiture of the Property or any part thereof.
<br />5. Huard Insuruce. Borrower shall keep the improvements now exts[ing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended coverage". and such other hazards as Lender may require
<br />and in such amounts and foe such periods as Lender may require: provtded, that Lender shall no[ require that the amount of
<br />such coverage exceed that amount of coverage required to pay [hc 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 such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renewals thereof shall he in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lender shalt have the right to hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss.
<br />Borrower shall give prompt notice to the insurance carrier anJ Lender. 1_ender may make proof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree m writing. insurance proceeds shalt lx applied to restoration or repair of
<br />the Propert}• damaged, provided such restoration or repatr is economicaly feasible and the security of this Deed of Trust is
<br />not thereby Impaired. If such rcstorauon or repine is not economically feasible or d the security of this Deed of Trust would
<br />be impaired, the insurance proceeds shall tx apptieJ to the sums secured by this Decd of l7ust, with the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
<br />date notice is malted by Lender to Borrower that the insurance earner uKers to settle a claim for insurance txnefits, Lender
<br />is authorized to collect and apply the insurance proeerds at Lender's option either to restoruion or repair o[ 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 of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments. If under paragraph IS hereof the Property a acywred by Lender, all right, title and interest of Borrower
<br />in and to any insurance pobcies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acyuisition shall pass to Lender to the extent of the sums secured by this Deed of Trust imrnediati9y prior to such sale or
<br />acquisition.
<br />6. Preservation and Maiolenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />;hall keep the Property m good repair and shall not convnn ++astc ~+r pennn imp:+umem ar deterioration of the Property
<br />and shall comply with the provisions of any lezse if this Ueed of Trust ~s on a leasehold. If this Deed of l'rust is on a unit in a
<br />condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration
<br />or covenants creating or governing the n>ndomuuwn of planned unit developmem, the by-laws and regulations of the
<br />condominium or planned unit development, and censument documents. If a condominium or planned unit developmem
<br />rider is executed by Borrower and recorded together wuh rho Deed of -trust, the covenants and agreements of such rider
<br />shall be incorporated into and shall amend and supplement the covenant, and agreements of this Deed ul Trent as i( the ndrr
<br />were a part hereof.
<br />7. Protection of Leader's Security. if Borrower fads to perform the covenants and agreements conutmed in this
<br />Deed of Trust, or if any action or proceeding is commenced which rnatenally a0ects Lender's interest m the Property.
<br />including, but nor[ limited to, eminent dornam, insolvent}, code onto recment, or arrangements ur precredmgs uwoivmg :a
<br />bankrupt or decedent, then Lender at Lender's option, upon notice m Borrower, may make such appearances, d~shurse such
<br />Burns and take such action as is necessary to protect L.ender's interest, in:audmg, but not limited to, dicbursemrm of
<br />reasonable attorney's tees and entry upon the Property to make repairs. tl L,ender rcquimd mortgage imurancr a, ~
<br />condition of making the loan secured by this Ueed of Trust. Borrower ,hall pay the prennums regwred to m:u nlam wch
<br />insurance in effect until such time as the regwrement for such insurance tennmatcs m accordance wnh &>rruwer's .utd
<br />Lender's written agreement or applicable law. Borrower shall pn} the amount of all mortgage insurance premium. ~^ the
<br />manner provided under paragraph 2 harm(.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, w~tb interest Ihercon, shall hecomc addrounal
<br />indebtedness of Borrower secured by this Deed >t Trust. t'nlrss Borrower and 1 ender agree to other terms of payment, sudt
<br />amoanis shalt be. payable upon nonce from Lender to Borrower requesting payotent Ihcrcof, and shall bear uverest loon the
<br />date of disbursement at the rate payable from time to time on outstanding orineroa! under the Nutr unless payment of interest
<br />at such rate would be wnttary to applicable law, in whxh event wch amount, shall bear uucre,i at the highest rate
<br />perntissibte under applicable taw. Northing contained tit this paragraph ' sh;dl regwre Lender to incur any expense or take
<br />any acuoa hereunder.
<br />g. layrctlon. Lender may make tit +.ause to br made reawnatale entries up4+n and ~nsprcnwts of the Pnlpcrty. proudrd
<br />that L,.r~nder shall give Borrower nonce pour to any such insp»non specdymg reasor:ablc cause therefor related w 1-erdet"+
<br />interest rn rho Prooetiv
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