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<br />Urrtroaat CovtavetwTS. Borrower and Lender covenant and agree as follows: 84 ~'~ Q 0 ~ 4 ~ 1
<br />1. !'a7asetA of thiacipal and latereat. Borrower shall promptly pay when due the principal of and interest on the
<br />sndebtedness evidrnccd by the Neae, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Deed of Tnrst.
<br />2. Ftnds for Tuna and lsteasruce. Subject to applicable taw or to a written waiver by Lender, Borrower shall pay
<br />to Lender an the day monthly installments of principal and imerest arc 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 rants on the Property, if any, p{usorie-twelfth of yearly premium installments for hazard insurance.
<br />plus ono-tweifth of yeady premium installments for mortgage insurance, if any, atI as reasonably estimated initially and from
<br />time to time byLendcron fha basis of assessments and-bids and reasonable-estimates thereof. -
<br />The Funds shall 1?e held in an institution the deposits or accounts of which are insured ar guaraotaed by a Retleral or
<br />state agency tirtcfading I:ender if Lender is such an institution). Lander shall apply the Funds to pay said-taxes, asscsstnents,
<br />insurancapeemiums and ground rents. Lender may riot charge for so bottling and applying the Ftmals, analyzing-said aecoitht
<br />or verifying and compiling said assessments and bills, unless lender pays Borrower intcrest on the-Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at rho time of execution- of` this
<br />Deed of Tntst that iaterrsi on the Ftmds shaft be paid to Borrower, and unless such agreement is made or apptirabk-law
<br />ragvires such interest to 6e paid, Lender shaft Writ be requred to pay Borrower-any interess orearnings an. the Funds. Lender
<br />shall give to Aorrawer, without charge, an annual accounting of the Funds showing credits and debits is the Funds and the-
<br />purpoae for which each del?it to fha Funds was made. The Fonds art pledged as additional xeurity for the sums secured
<br />by thin Decd of Trust
<br />If the amount of the Funds held by tender, together with the future monthly installments of Ftmds payabk prior to
<br />the due dates of taxes, assearttents, insurance premiums and ground rents, shall exceed theatttoum required~to pay said:taxes,
<br />assasamants, insuranar premmms and ground rents as they fat! data, such excess shall be, at Borrower's option; either
<br />promptly repaid to Borrower ar credited ro Bnrrnwer nn monthly installments of Funds. if the amount of the Funds
<br />held by Lender shat) not lee wffieient ro nay [aces, assessments. insurance premiums and ground rents as-they fall due,
<br />Borrower shall pay to tender any amount necessary to make up the deficiency within 3f7 days from the: date notieeis-mailed
<br />by Lender to Borrower regtresting papmant therrnt.
<br />Upon payment in full of alt sums seetsred by this Decd of Trust Lender shall prtxttptly refund to Borrowerany Funds
<br />hMd by Lender. if under paragrafsh 18 hereof [he Property se sold ar the Properly is atheru•ise acquired by lender. Lander
<br />shaft apply, no later chart tmmedrateiy prior to the sale of the l'roperry or its acquisatian by lender, any FuridS hekt by
<br />Lendar at the time of apptieatinn ax a credit against the sums secured by this Deed of Trust.
<br />J. ApplFcalbe of Faysneats. t==niece applicable taw provides otharwsse. atF payments received by Lendar under- the
<br />Note and paragraphs 1 and Z hereof shall tvr appiitd t?y Lendar fiat in p-ayaunt of amounts payable to Lender 6y [harrower
<br />under paragraph 2 hereof, then to interest pavable on the Kota, then to the principal of the Note, and then to interest and
<br />prattripal on any Future Advances.
<br />4« C.basxn; Lkna. Bmrower shat! pay sit taxes, assessments and other charges. fines and impositions anributable to
<br />the Property which may attain a pnnrity over this Daed of Trust, and IeasehaiJ payments or ground rents, if any, in the
<br />manner provided under paragraph 2 htreaf or, tf not paid m such manner, by Burrower making payment, when due, directly
<br />to the payee thereat. Borrower .hail promptly formed to Lender all ounces at amounts due under this paragraph, and in the
<br />even[ Borrower shall make payment diracth•. Barrt?wer shaft pnvmptly Turn ah to lender recapts evidencing such payments.
<br />Borrower shalt promptly discharge any hen uhasrh has priority over thrs t7r„ad of Trust: provided, that harrower shall not tx
<br />requred hs discharge any such tiers so long as B€srtower shall agree m writing to the paynstm of the obhgatian secured by
<br />sued hen rn a moaner acrtptable to (.ender, or chaff to gnat faith cnntest such hen by. or defend enlorctmem of such lien in,
<br />Magat ppractadmgs w~hrrh operate to prevarst the cMarcemtnt i~t the hen or forfeiture of the Property nr env pan thereof.
<br />S, liarard ltt~truee, Borrower shsii xaep she unprovrmonts ncu~ existing or hereafter erecter# art the Property insured
<br />agattset Foss by fire, hazards mriuded wuhm the term "ettanded t:svcrage '. and such ether hazards as tender may require
<br />and in such amosmes attd Ear such persuds as Lendar may requue: prnvrdcd, that Landar shall nn[ raqurre [hat fha amount of
<br />such snvcraga exceed that amount at' cavarage rcquvad tc? pay the sums secured by thss Dead of Tatst
<br />TTsa insuranca carrier provsding fha insurance shalt be ct?nscn lsv Berrawrr subject m approval fay [..ender; provsdad.
<br />that such approval shall not he unraasonahly wtthheid. .Ail premiums on insurance pohcias shall rx paid in the manner
<br />provided udder paragraph 2 txertof or, tf not paid in such manner. by Borrower making payment, when due„ directly to the
<br />insurance sxctfcr.
<br />All insuranca policies aced rantwals ttsarcaE shaft bz m faun ucr~ptat?}t to Leander and shall include a standard portgage
<br />.louse in favor of acrd in farm acceptabta en tender. tender shalt Nava the right to hold the policies and renewals thertvE,
<br />and Bc?rrowac shalt promptly furnish to F.endar ati nsrtwai notices and a!t receipts o[ paid premiums, In fha event aC lass,
<br />Borravvtr shall give prompt aotire to irxr :rtsurancc c.trrret and Lender- d-etntar mxy mske proof at Isms if not made promptly
<br />by Borrower.
<br />Urtkss under atn# Barruwar otharwr-se ague ir, untsn{t, insurance prsscards shalt ba applied to rasturatian nr repair nE
<br />fha Pcapcrty damaged, Provided such restcsrnu4*n our rep- er - r~gnonns:aF)y Eeasibta and the security of this Deed of 'frost rs
<br />not iharabv smpauad. If such ttstorat:ou or repau rs a u e- +nomica[fy teassble nr rf fha security af~th'ts Deed of 'trust wauid
<br />ht impaared, the msurarrrt prrxatds arsait tee apppEitd to the corm secured by this Dead of Tnsst, witfi fha eseess, if any, paid
<br />to Bortawer. ff the Property is ahavdorsad by Sorruwtr, ar if Barr.>war fails to respond to Lender within lQ drys from the
<br />date notice ix mailed bt lender to Borrower that fha ussuranea carrstr a€fen to satda a ci~im For insurance benefits, Lender
<br />is author#ztd to cotkei and apply the insurance pzncerds at t.endcr"s option sober to restaratinn or repair of the Yrapcrty
<br />ar to fha sums sarured by tlsis Deed of Trust.
<br />tlniass Lander and Borrower aiherwisc agrtt :as writrng, ,soy stsih applscation at proceeds to prrncipal shalt not extend
<br />ur postpoua fha due data of lira manehty tnsiaAmants referred na in paragraphs t and ?' harenf ar change the amount of
<br />stn:b installments. if under paragraph to hereof the Prcparty rs acquired by Lander, alt right title and inttres# al Borrower
<br />in and to say ittsufanct palic"see and in end to tlta prcrt`aads tlrtraat resulting from damage tat fha Pruparty prior ro the sate
<br />or aalttisltion shah pass tt? Lartdee to fha extent .>f fha sums secured by thts C)esetl of 'Trust immtdiatety prior to such sale ar
<br />aaquuftiou.
<br />E WaaerraKon and NoiNenaaee of Property; L,easehulds; 4'otdorniaiams; Planned Unit peveloptnents. Borrower
<br />shall keep fha Prnpeny in good repair and chaff not ctsnmsit a-assn ur permit itupaument ur deteriaraiien of ihu Property
<br />sad shall compty with fha ptcavisions of any lease tf brie Cyaeai of Trust rs an a iaasahotd. If ,this Detd of Trust is ou a unit in a
<br />condominium or a plannai ttnit dtvektptrsent- Bisrrawtr shat! padarm atl of Borrower's ohiigatrars under the declaration
<br />or ctpvenauts cceatirig ar governing the corntomimuna or plttarx`d unit devatopnstnt, the by-laua end regulations oC the
<br />candtrmiaiurss ar piartq+xS unit dtveiupmant and aorzsuruan[ dncurssams. tf a rondomfnium or planned unit daveiopmem
<br />cider is exactrted by Bnrrnwer and reaordad together with [his Dead nE T'nrst, fha covenants and agrearntnts aE such ride:
<br />shalt etc irtcorporatad ineu and shall amend and suppian:eat fha covenants and agreements of thts Dead of 'Trust :a d the rtdcr
<br />wcra a part haraaf-.
<br />7. Tsaeaetieo of Leader's Serat:ily. if Bnrrnwer faiLg to partorm the eovcnants and agrecnstnts contained in this
<br />Deed of Trost, or if any action ar proaeadiug is cnmmanced which matariaily affects L.tndar's interest in rho Property.
<br />an>rltedjsi>b but resat hmiterl in, eminent domain, insolvency, srnie cnfarcemant, ar arrangements or prac~etdings irsvolving a
<br />lstWk[trpt or d~atdeut. than Lander at Ltttders option: upae noticx tc Borrower, may make such appaaran:es, disburse sorb
<br />stiuuq?s xnd t>tkc s4cft action as is rsac~s&rv #e protect lender's iatarest, irtcttuling, but oat limited in, dishursemeni of
<br />ra.soaabk attor;actr's ftxs atsd gutsy upon the property W nrtka repairs. lE l;auder required mortgage insuratat~a as »
<br />co4diuon of maktug fha ioxn secrrrad 6r this ihcd of '~rttst, Borrower ahail paY fha praatiums required u~s rurinmsn such
<br />msurartre in cS(aa unoi such titre ai< the rrqudttrnaut fat streh irss`urana:. termtnatts sn aecordan4~ w+th Barrstwar"s and
<br />i:tsorkt's wriueri a/;rtCrrxait.4r applitabic i;tw. Burrower shall pap' the antottnt of aft maNgage insuranca premiums in the
<br />ttiaasnar provided under pa tagraptt ~ lttttaf. .
<br />Any arnutsnta distsuascd by l..ander pursuant Sc? tit#a. paragrypll 7, wstb ullatest Fheraastt, strati bes'tmta additianaF
<br />i+xScE.tcdaaas c.i Barr suer sctatred by this l~CCd of Trust l1'nltss Borrrnvar and Landar agnea to other tarrus of paytntm, xrcls
<br />a,nssxusta shat! ha payabk upon tx?tica 6rartxa-Lactc~r ttt 33t?rrowrr rayucsting-~paymaul tizatxt#', and sitaFl traaa~ inttrvwt from .ho
<br />date of tiistrsrssutartt at t ba rate payaWt frvxn t)nae ra trine nn atxYStanrling principal under tba Nnta uut,css payrnaatt of imCrast
<br />at wad colt wcuid he contrary n, apglxralile }aw, rrr which ty-€nt sus~la amounts shrill hear smarast at fha highest rate
<br />purnia?alaie utrslar apphcnl+lc !aw, Nothing eaxtlaitred in thss paragraph 7 shalt requite Lander #u itxur any expaassc ar take
<br />spay action hcroun€ier.
<br />f, last,-ctMw, fcndaF, may male or snatrxc to ba .made reatsnnabk tartrias upon and inspacunnx al Chc Prapstty, xavtdtd
<br />t has t~rsslitt xhaFi r'ivc fkurttW63 xFtuia:e prior ter any such irtspacttan sptxifying rr~.uarsalafe cattsa thereteu ~rtllt€ixl to ~enda: s
<br />i ntcme ~n ilpt ("t AtYellt. .
<br />b am .._ .x.
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