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<br />" ~C~ -iiO 00179~~ 1s/ pp
<br />UtvtFOass Covetsanrrs. Borrower and Lender covenant and agree as follows: ~ -_ 00~ ! vo
<br />-l. raymeM of Mweipl wd IMereM. Borrower shall promptly pay when due the principal of and interest on the
<br />rndeMedness evidenced by the Nae, prepayment and late charges as provided in the Note, and the principal of artd interest
<br />an anv Furore Advances secured by this Deed o(Tntst.
<br />2. Pwai ter Ttaa awd Iwawrawxe. Subject to applicable law or to a written waiver by Lender, Ilorrorser shall guy
<br />h? Lender nn the day monthly installrtteats 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 reins on the Property, if any, phts ox-twelfth of yearly premium installments for haurdmsuratttx,
<br />plus one-twelfth of yearly premium inshllments for mortgage insurance, if any, all as reasonably estimated iwitially trod from
<br />acne to time by Leader on the basis of asseaments and bills and reaaonabk estimates thereof.
<br />The Futtdx shall be hdd in an institution the deposits or aaounh of which arc insured or gturanteed by a Federal w
<br />state agency (including Lender if Lender is such an instHUtian). Lender shall apply the Ftmds to ppaayy said faxes, asaeasmentc,
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Furth, analyzing said aecOlwrt
<br />ur verifying and compiling said assessments anti bills, unless Lender pays Borrower interest on the Funds and applicable taw
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Dead 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 oat 6e regwrcd to pay Borrower any interat or eamioga on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debns to [ha Funds and the
<br />purpose for which each debit to the Funds was made. The Funds arc pledged as additional stxuriry for the tttrnq aeatrad
<br />bV [hl6 Decd of Trust.
<br />If the amount of the Funds held by Louder. together with the furore 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 acid taxes,
<br />assessments, insurance premiums and ground rents as they Sall due, such excess shall be, at Borrower's option, either
<br />prompptly repaid to Borrower or credited to Borrower can monthly installments of Funds. If the amount of the Fonds
<br />held by Lender shall not be suKtaem to pay taxes. assessments, insurance premiums and ground rents as they fa@ due.
<br />Borrower shall pay to Lender any amount ncressary t,r make up the deficiency within 30 days from the dale notice is mailed
<br />by Leader to lbrtxnver requesting payment thereof.
<br />Upon payment in full of all sums secured by rhea Deed of Trust, Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 1 g hereof the Progeny n sold or the Properly is otherwise acquved by Lender, Lender
<br />shall apply, no later than immedutely poor to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Lender at the acne of application as a credit against [he sums secured by this Decd of Trust.
<br />3. Ahlicadww of hytrsewrs. Unlrxs applrcable tau prov,dec otherwise. all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall he applied by Lrnder first in payment of amounts payable to Lender by 8orrowW
<br />under paragraph 2 hrrrnf, then to r~terest payable on the Note. then to the princpal of the Nofe, and then to inkrcst and
<br />pnnnpal nn any Future Advances.
<br />~. Cbar~es: 13ews. Borrower chill pas :dI taxes. assessmens ante other charges. fines and impositions attributabk la
<br />the Property which may attain a pnonty over this Deed of Trust. and Irasehold payments or ground (cots, if any, 111 the
<br />manner pronded under paragraph 2 hercaf nr, d not gaol in such manner, by Burrower making payment. when due, directly
<br />to the payee thereof. Borrower shall promptly fnnush to 1 ender all notices of amounts due under thin paragraph. and in the
<br />event @orrower shall make paymem d,recti}. Borrower shall promptly hnnrzh ro Lender resroipta evidencing such payments.
<br />Borrower shaft promptly dixharge anv hen shrch has pnonty over this heed of Trust; provided, that Borrower shall oat Ipe
<br />r eywred to discharge any such lien so 6xig x, Borrower chill agree in wrung ur the payment of the abligauon secured by
<br />wch hen m a manner aczrptable n, !rndrr, nr shall us guixl faith coolest ,uch hen by, or Jefend enforcement of such lien in.
<br />legal PPnxeedmgs whrch operate to prevent the rnforcentent of the hen o: forfeiture of the Property or any part thereof.
<br />S. Hasa) lesarawse. Berrowrr shall keep the mtpmvrmrnts nun enistrng ur hereafter erected on the Property insured
<br />against lass by fire. hazards tacluded uuhm the term ~cxtended cnvrruge'-. anJ such other hazards as Lender may require
<br />and ro such amounts and for such perrxsds a, i ender mac require: gnewdcd. that Lender shall not require that the amount of
<br />ouch coverage exceed that amount of coverage reyuucd a+ pay the sums xntrcd by thn Decd of Trust.
<br />TTxe insurance earner pmndutg the mcurancc shall hr ch.*sen by Norrower xablect to approval by Lender: provided.
<br />that such appreval shall not tie unreasonably wnhhrld All prcmmms on irsurance policies shall be paid in the manner
<br />providaf under paragraph 2 hereof or, rt nut Bard ir. ,uch rnannrr, by Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />.111 msurancr prrleoes and renewaic therrot shall he m form a:ceptabir n~ Lrnder and shall include a standard mortgage
<br />clause in favor of and in form accegtahlr a, Lrnder Lender shall have the tight to hoW the policies and renewals thereof,
<br />and Borrower shall promptly furnish !o t rndrr a;l renewal nuticen and alt rrcrigts of Bard premiums. In the even) of loss,
<br />Borrower shell pert prompt Hance to the ,nsurancc ~amrr and Lrnder Lrnder may make prxwf of loss d not made promptly
<br />6v Borrower
<br />Unless tender and Barmwrr omerw,sr age cc• in wntmg. unurmxr proceeds shall be applied to restoration or repair of
<br />!hc Propene damaged. provxted such rcsroiannn ur rrnmi ,. .onunas. ally teasihle and the security o[ thu Decd of Trust is
<br />nut thereby ,mpaued. It such rcsrtuahun or repau r+ not rconnnuaally icasible u+ ,f the srcunty of this Deed of Trust would
<br />hr ,mpaurd, the msurancr pruc:erds shah far applied to the sum, sr. lard by rhea Decd of Trust, with the excess, if any, paid
<br />to Horcawer IC the Property is abandoned by Borrower. ,a~ d Bornwrr tads to reslwod to Lender within 30 days from the
<br />date ix»ire n marled tsy Lrnder to Borrower that the msurancc .:store ulcers u+ stale a clam for insurance henefits, Lender
<br />rs authonztd a+ wlleia and apply the maw suer preisrrd, at Ixndrr~s npuon either to rrstorauon or repau of the Properly
<br />or to the sours sea ured by this Derd of i-nest.
<br />Unless 1 ender and Borrower uthrrw rse agree m wrmng, any each apps icauon ui graceeds to pnncipal shall not extend
<br />ur Ix»iponr the due date ut the nxaahly installments rclerred to m paragraphs i and 2 hereof or ~hange the amoum of
<br />such mstallm€nrs. If under paragraph I a herrr?t the 1'ruprrty „ aeywred bs~ lender, all right, utle anJ interest of Borrower
<br />m and to soy mwranve pule. its and ur and ur the pnwruls therrot rrsulnng tmm damage to the Property poor to the sale
<br />or acywseion shalt pass to f.nrder to the extent at the sums ,rowed M th,x [kart of hrust immediately prior to such sale or
<br />acyuuiuon
<br />6, Praarralbw aw/ MaitNewtrwce of Property; l,eiMZtsolds; f~urrduminiwttss; Plasrwed Uair IkreMsprwewls. Borrower
<br />,hall prep the Pmpc try in gcsr.f repau anJ snail not .,,mow waste .u perm+t mtpaunient or Jrtenuruuon oV the Property
<br />and shall comply wnh the provisions of any tease rf th,a Deem .,f I near a on a Ieatirhold II thu Decd of Trust ,s un a uml m :a
<br />.ondonunwm ar a planned amt descloprnrnt, Barrow rr shall pr dorm vii o! Borrowers ohligahons under the declarahon
<br />ur :ovenants creaung :+r gocrnring the corufamrmum or p!annad unn deveVopmeut, the by-laws and regulahun, of the
<br />.undummium or planned unn Jevrlopmern. and :oneruuent dikumem, II a sundomuuum ur planned unit dccrlopmeni
<br />nder is executed h} Barruwrr an.l re..uidrd together uuh sh,s IkrJ a; 1 rust, the covenants and agreements of arch ndei
<br />shall tx inoorgxatcd ,otu and shall amend and suppiemrn, the c,n eosin.., n.7 agree mrn[s of the Ueed of Lni,t a, ,f the ndri
<br />were a part herwf
<br />7. horeetiww of Lewdeis 5ecarity. If Borroarr 'aJs to per corm Stet . ,rnanu and agwrmrnt. :,mtameai ,n Shit
<br />Deed aE frtw,[, or rf any actwn or pnxxedmg ,. ,onunenced which marer,alh atieaa l.ender~s vnerest m tht Property.
<br />melialmg, but cwt limited ta, rminera duma:u, ;i ,icncl ,.ode rnlurcemenr. or ur rangcmcnh or pr:xerdmgs mvoh-,rag .r
<br />haakrupt ur du-.cdent, thin Lender at Lender's oparon, upon neuce m Borrower, rosy make such aglxarancrs, dubursr wch
<br />sums sod take such acnun as is necessan la protect LenJrr s ,meta-st. :ndud:ng. but not lunued tn, ds,hw scment ,,.
<br />r'eawnahk artarriey's fees and entry apart the Propene :c. make reps, rs it Lender rcyuirrJ mortgage ,ncurance a
<br />cotaftpon n{ making 4te lawn securod by rhea Iked of T:mt. Burrowu ,hail pus the preuuunn reyuurd m mauxum ,u;h
<br />msurarice sn e$tct until stscb time as the rcyuiretnent for sash ,nsurancr irr:n,na[n :n a cordance wnh Ror,owrrs .,
<br />lrrirkri wntten agreomau ar agpficabk Saw Barrawrr shall pay ihr arnuunr .,1 a;i mortgage ,nsurance prrnuum, rr, the
<br />manoet proviiidi urulcr paragraph 2 hercreasf
<br />L Artyy aawunts disbursrtl by 1 ender gutsuant t.~ ~h+s paragraph ' w:lh ,ntrr rat thereon, shall hc-iornc add, u.,na
<br />,aakbtedrress of Barrawrr secured by this Lleexf et Trus, 1 nkss Borrower and f coder agree !.= rndrr terms ur pay mem..u.h
<br />seta+unts shaft ho payafsk again notice Crum Lender ro B.u rawer rryuraang pap incur tnetrof. and shat: hear increase !r.,m arc
<br />date bf dishuraomoru st tt~ taco payable from time t,r tune vn ,?utstandu+g prim,pai under the 'volt units, pay mini ,rf rntc re,r
<br />at awh rate wor;kf br umvutl to apfzl rcable law. , shah teem +,:ch am,>unr. ,hail f,za, ,ntr rest at !hr h,ghrst rate
<br />Ixsrrrirsubk under apgt.iuM€ iuw. liar lung cnnta,n€ci ,+n :his paragraph " ,hail reyu"r 1 rndrr r~.:n:ur anp expense ,.,r take
<br />any actiWt herramxkr-
<br />a, Le[nkr May mak€ ..[ ....:ter n• hr n~iade ra°=akmabie catne+.. ~,,: an,! ,n,~ irons or (hr Pt~ertv IauuJrd
<br />that fender dui6 git'e Botrosvxr esxtrd€ pr,rsr to any su.tr :.ispea::..v: slrr.ityurg ;assures;+lr :.eu.+r char ct.~r :rlxtrat ,o f rndrr
<br />axterrtat is tha Frooerty
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