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~~--`11v1017 UNtroast CovtavnNrs. Borrower and Lender covenant and agree as follows: 1. Payment of Principal and Interest. Borrower shall promptly pa}' when due the pnncipal of and interest on the mdcMedncss evidenced by the Note, prepayment and Luc charges ;u provided m the Notc, and the princpal of and interest un any Arturr AJvanecs seeureD by th,s UceJ n1 '1 ruN. 2. Foods for Taxes anA Insurance. Subject to applicable law ar to a written waiver by Lender, Borrower shall pay to Lender on the day monthly installments of pnncipal and interest arc p:ryable under the Nrne, until the Note is paid in full, a sum lhere+n "Funds'I equal to one-twelfth of the yearly taxes and assessments which may attain priority over this Ueed of Trust, and ground rents an the Property, if any, plus one-twel[th of yearly premium installments for hazard insurance. plus one-twelfth of yearly premium installmenK for mortgage insurance, il' 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 in. station the Deposits or accounts of which are insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institution}. 1_ender 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 anJ bills, unless Lender Rays Borrower interest 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 Deeil of Trust that interest on the Funds shall he paid [n Borrower, and unless such agreement is made or applicable law requires such interest to be paid, Lender shall not be required hr pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, :m 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 Deed of Trust. 1(the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due dates of rases, assessments, insurance premiums anD ground rents, shall c.xcced the amount required to pay satd taxes. assessments, insurance premmms and gnxmd rents as they tall Jue, such excess shall fie, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on month)}' installments of Funds. If the amount of the Funds help by Lender shall not be suBicicnt ro pay nixes. assessments, insurance premiums and ground rents as they fall due. Borrower shag pay to Lender any amount necessary to make up [hc deficiency within 30 days from the date 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 Funds held by Lender. If under paragraph I S hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later than immediately prior to the sale al the Property or its acquisition by Lender. any Funds held 6y Lender at the time of application as a credit against the sums secured by this Dced of Trust. J. Application of Payments. Unless applicable law provides otherwise, all payments receive) by Lender under the Note and paragraphs 1 and 2 hereof shall he applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof, then to interest Rayablc on the Mute, dten m the principal of the Nute, and then to interest and principal on any Future Advances. 4. Charges; Liens. Borrower shall pay all taxes, assessments and other charges, tines 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 ur, if not paid in such manner, by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish to Lender all antic s of amounts due under this paragraph, and in the event Borrower shall make paymem directly, Borrower shall promptly tarnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has prtority u+cr this DecD of Dust; provided, that Borrower shall not he required to discharge any such lien so lung as Borrower shall agree m u ruing u+ the payment of the obligation secured by such lien in a manner acceptable to Lender, or shall m good faith comcst such hen by, ur defenJ enforcement of such lien in. legal proceedings which operate to prevent the enforcement of the lien or lorfcintre of the Property or any part thereof. 5. Hazard Insurance. Borrower shall keep the improvements now extstmg ur hereafter erected on the Property insured against loss by fire, hazards iuchided within the term -'extendeJ coverage", and such other hazards as Lender may require and in such amounts and for such periods as [ender may require; provide). that Lender shall no[ require that the amount of such coverage exceed that amount of coverage reyuued to p:q• the sums secured by this Deed of Trust. The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender: provideD. that such approval shall not he unreasonably withheld. All premiums on insurmcc policies shall be paid in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Burrower making payment, when due, directly to the insurance carrier. All insurance policies and renewals thereat shall be m form acceptable ;:- Lender and shall include a standard mortgage clause in favor of and in form acceptable to Lender. I ender shall h:ne the nght to hot) the policies and renewals thereof, and Borrower shall promptly furnish to Lender alt renewal notices :md all rece+pts of paid premiums. In the event of loss. Borrower shall give prompt notice to the insurance earner :uxl Lender. tender may make proof of loss if oat made promptly by Borrower. Unless Lender and Burrower mherwtse agree in writing, utsurance proceeds shall he applied to resroration or repair of the Property damaged, provided such restoration or repair is eaawnueally feasible and the security u! this DeeJ of Trust is not thereby impaired. tf such resturauon or repair is nut economically feasible or it the security of this Deed of Trust would be impaired, the insurance proceeds shall he applied to the sum, secured by this Deed of 'Trust, with the excess, if any, paiD to Borcower. If the Property is abandoneD by Burrower, or if Borrower fails u> respond to Lender within 30 days from the date notice is mailed by Lender to Borrower that the insurance carrier ulTers to settle a claim fur insurance benefits, Lender is authorized to collect and apply the insurance proceeds at Lender's upnon either to restoration or repair of the Property or to the sums secured by this Deed of Trust. Uttless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall nut extend or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments. If under paragraph 18 hereof the Property is acquired by lender, all right, Gtle and interest of Borrower in and [o any insurance policies and in and to the Rroceeds thereof resulting from damage to the Property prior to the sale or acquisition shall pass to Lender to [he extent of the sums secured by thin 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 or Rennn impairment ur Deterioration of the Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold, if this Deep of Trust is on a unit in a condominium or a planned unit development, Borrower shall per3onn all of Borrowers ohligations 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 documents. 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 shall be incorporated into and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider were a part hereof. 7. Pttetlectbn of Lender's Security. If Borrower fads to perform the covenants anD agreements contained in this Deed of Trust, or if any action or proceeding is commenced which materially atTects Lender's interest in the Property, including, but not limited !o, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a bankmpl ar decedent, then Lender a[ Lender's option, upon notice to Borrower, may make such appearances, disburse such sums and take such action as is necessary to protect Lenders interest, including, but nut limned ta, dishursement of reasonable attorney's fees and entry upon the Property to make repairs. If Lender required mortgage insurance as a condition of making the {oan. secured by this Deed of Trust, Borrower sh;tll pay the premiums required to maintain such insurtttice in. effect until such time as the requirement for such insuratce tenninares in accordance with Borrower's and Lender's written agreement or applicable law. Borrower shall pay the amount oI all 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 become additional indebtt~txsa of Borrower secured by this Dced of Trust Unless Borrower and I-ender agree to other terms of payment, such amounU shalt be payable upon notice from Lendor to Borrower requesting payment thereof, and shalt boar interest from the data of disbursetttent at the rnte payable from time to time an outstanding principal under the Note unless payment of imerest at arch rate would be contrary io applicable law, in which event such amounts shalt trear interest at the highest rate permisaibte utuler pppficable law. Nothing contained in this paragraph 7 shall require Lender m uuur any expense ur take any action hereunder. ti, hatpet•IGtit, { ender may make ar cause to bo tirade reasonable cot ties upon and inspections of die Property. pnwidrd that Lender shag give $orrowtr ttotice Rrior to ang such inspecuun spccdying raasunabie cause rhercfur related to Lender's interest irr the Proocrty.