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$4 -- i~010f0
<br />UNIFORM CoveNetvrs. Borrower and lender covenant and agree as follows:
<br />.f. Payment of Principal and Interest. ~ryrrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepaymggr and late charges as provided in the Note, and the principal of and interest
<br />on env Future Advances secured by this Deed pf 'Trust.
<br />f. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />m Lender nn the day monthly installments of Principal and interest are payable under the Note, until the Note is paid in full.
<br />a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Deed of Trust, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to time by Lender on the basis of assessrents and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federa6 or
<br />state agency (including Lender if Lender is sugh an institution!. Lender shall apply the Funds to pa said taxes, assessments,
<br />insurance premiums and ground rents. Lendeh Rtay not charge for so holding and applying the Funds, analyzing said-account
<br />or verifying and compiling said assessments aqd hills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender m make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Deed of Trust that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid. Lender shall hot be required to pay Boroower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an anqual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose far which each debit to the Funds was made. The Funds are pledged as additional security for the autos securod
<br />by this Deed of Trust_
<br />if [he 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 exceed the amount required to pay said taxes-,
<br />assessments, insurance premiums and grounq rents as they fall due, such excess shall be, at Borrower's option; either
<br />promptly repaid to Borrower or credited to (;orrnwer on monthly installments of Funds. If [he amount of the Funds
<br />held by Lender shall not he sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall dtte;
<br />Borrower shall pay to Lender any amount necessary [n make up the deficiency within 30 days from the date notice-is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured 6y this Deed of Trust. Lender shall promptly refund to Borrower any Furids
<br />held by Lender. If under paragraph I8 hereof the Property is sold or [he Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immedtately prior td the sale of the Property or its acquisition by Lender, any Funds held- by
<br />Lender at the time of application as a credit against the sums secured by this Deed of Trust.
<br />3. Applrcaflon of Payments. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by [.ender first in payment of amounts payable to Lender by Borrower
<br />under paragraph Z 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. Charles; Lints. 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, ii not paid in such manner, by Borrower making payment, when due, directly
<br />to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the
<br />event Borrower shall make payment directly, Bpr[ower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Deed of Trust; provided, that Borrower shall not be
<br />required 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 in good faith contest such lien by, or defend enforcement of such lien in.
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5. Hasard Insurarrtt. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against bas by fire, hazards included within thg term "extended coverage", and such other hazards as Lender may require-
<br />and in such amounts and for such periods as Lender may require: provided, that Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage fequired to pay the sums secured by this Deed of Trust.
<br />The insurance carrier providing the insurance shall he chosen by Borrower subject to approval by Lender: provided.
<br />that such approval shall not be unreasonably withheld. Alt premiums on insurance policies shall be paid in the matinee
<br />provided under paragraph 2 hereof or, if not paitl in such manner, by Borrower making payment, when due, directly to the
<br />msuraoce carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to LePtler. Lender shall have the right to hold the policies and renewals thereof,
<br />and Borrower shah 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 and Lender. Lender may make proof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing. insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoratiop or repair is economically feasible and the security of this Deed of Trust is
<br />not thereby impaired. If such restoration a~ repair is not economically feasible or if the security of [his Deed of Trust would
<br />be impaired, [he insurance proceeds shall be applied to the sums secured by this Deed of '('rust, 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 [he
<br />date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or to the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise ogees in writing, any such application of proceeds [o 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 iostallments. If under paragraph 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the extent OF the sums secured by this Deed of Trust immediately prior to such sale or
<br />acquisition.
<br />6. Preservation and Maintenance of properly; Leaseholds; Condominiums; Planrred Unit Developments. Borrower
<br />shall keep the Property i^ good repair and shall not commit waste or permit impairment or deterioration of the Property
<br />and shall comply with the provisions of any lease if this Deed of Trust is nn a leasehold. If this Deed of Trust is on a unit in a
<br />condominium or a planned unit development, Qorrower shall perform all of Borrower's obligations under the declaration
<br />or covenants creating or governing the condotinium or planned unit development, [he by-laws and regulations of [he
<br />condominium or planned unit development, and constituent documents. If a condominium or planned unit development
<br />rider is executed by Borrower and recorded k[gether with this Deed of "Trust, the covenants and agreements of such rider
<br />shall be incorporated into and shall amend and sypplement [he covenants and agreements of this Deed of Tn[st as if the rider
<br />were a part hereof.
<br />7. Protection of Lender's Securitg. If Borrower fails to perform the covenants and agreements contained in this
<br />Decd of Trust, or if any action or proceeding is commenced which materially alfects Lender's interest in the Property.
<br />including, but not limited to, eminent domain, inuthencv. code enforcement, or arrangements or proceedings involving a
<br />bankrupt or decedent, then Lender at Lender's option, upon notice [o Borrower, may make such appearances, disburse such
<br />sums and lake such action as is necessary to protect bender's interest, including, hu[ not limited ta, disbursement of
<br />reasonable attorney's fees and entry upon the Property to make repairs. It Lender reyuired mortgage insurance as a
<br />condition of making the loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain such
<br />inswance in effect until such time as the requiyernent for such irsurancc terminates in axordance with Borrower's and
<br />(xnder's written agreement or applicable taw. Borrower shall pay' the amount tit a!I mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant U+ this paragraph 7, wuh interest thereon, shall become additiwrd
<br />indettedness of Borrower secured by this Deed o{ trust. T-mess Borrower and lender agree to other terms of payment, such
<br />stnaunts shalt be payable upon notice from I..enaj`r to Borrower reyuesting payment thereof, anal shall hear interest tram the
<br />deco of disbursement at the rata payable from ti[gg to tin'rc on outstanding principal under the Note unless payment of interest
<br />at such rate would lx contrary M applicable Ig+e, in whrrh es~nt such amoums shall bear interest at Q[c highest rate
<br />permissible under applicable taw. Nothing contained in !hu paragraph 7 sh:d1 require Lender to incur an3~ ex(x rye or take
<br />any action hnrcunder.
<br />ff. Iuyectkrn, i ender may make or cause tp be made reasonable entrees upu^ eon inslxcuerts rat the Property. pros idcd
<br />that Lender shall give Borrower notice error to aPS' Such rnspecurrn specSfying rcau>nabte ruuc therefor related ro t coder ~.
<br />~reterest in the Pruoreriv.
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