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g~ -~ 001899
<br />U~irus sr Cuvr!vn~as Borrower and I ender covenant and agree :a follows:
<br />1. Payment of I'rinripal and Interest. &,rrnwcr ,hall prnmptfv pav when due the pnncq?:d of and intcre,l un the
<br />indebtedncs es ulenccd by the Note. piepaymem anA Luc charges as provided m the Note, and the prince pad of and interest
<br />un an - f'uRUr AJs.unc„c<urrd h} this Ih•rd of l nisi
<br />~. Rands for Taxes and Insurance. Subject to applicable law or to a unnen waiver by Lender, Borrower shall pay
<br />io Lender r=n the d.i} monthly installmenn of ponce pal and inicrosl arc payable under the Note, until the Natc is paid in full,
<br />a sum therein "Funds"1 equal to one-twelfth of the yearly lases and assessments which may attain priority over this
<br />Uecd of Tnist, and ground rents an the Properly, d any, plus one-twelfth of yearly premium installments for hazard insurance.
<br />plus once-twelfth of }early premum installntenis (or mortgage insu ranee, if :my, rill as reasonably estimated initially and from
<br />ume a. time by Lender nn the basis of a cessments and bilk and reasonable estimates thereof.
<br />The Funds shall he held in an institution the deposits or accounts of which arc insured or guaranteed by a Federal or
<br />state agency Onduding Lender if l,cnArr is such an institution). Lender shall apply the Funds to pay said taxes, assessments.
<br />nisur once premiums and ground rents. Lcndcr may not charge for sa holding and applying the Funds, analyzing said account
<br />nr aen(ying and compi6 rig rani assessments and hills. unless Linder pays Borrower interest on the Funds and applicable law
<br />permits I ender to make such a charge. Borrower and I ender miry agree m writing at the time of execwinn of this
<br />Decd of "Trust that imerect on the Fund, .hall he paid ;o Ba"rower. and unless such agreement is made or applicable law
<br />regwres such interest m he p.iid, Lender shall not be reywred to pay Borrower any interest or earnings on the Funds. Lender
<br />,hall give to Borrower. without charge .in :uunial ucaemtmg of the Funds shooing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for tht sums secured
<br />M' this Deed of Trust.
<br />If the amount of Chi Funds held ht Lcndcr. 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 />assessmenh, insurmcc premium. and ground rents as they fail due, ouch excess shall he, at Borrower's option, either
<br />promptly repaid to Borrower or Credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held M' Under shall not he udHaent to pa} taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower ,boll pay m Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by 1_ender to Borrower requesting payment thereof.
<br />Upon payment in fill of all sams secured by this Dced of Trust, I ender shall promptly refund to Borrower any Funds
<br />held by Linder. I( under paragraph IR hereof the Property is sold or the Property is otherwise acquired by Lender, Lentkr
<br />shall apply, no later than immediately poor to 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. Applicatlon of Payments. Unless appliriMc law provides otherwise, all payments received by Lender under the
<br />Nate and paragraphs I and 2 hereot shall be applied by Lender first m payment of amounts payable to Lender by Borrower
<br />tinder paragraph ?-hereof, then to interest payable on the Nore, then to the principal o[ the Note, and then to interest and
<br />principal nn any Future Advances.
<br />4. Charxes: Lietss. Borrower shall pay all lases, assessments and other charges, fines and impositions at[ributabk to
<br />the Property which may attain a priority over this Deed of Trust. and leasehold payments or ground rtm[s, if any, in tht
<br />manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making~paytttmt, when due;'diralaly'
<br />to the payee thereof. Borrower shall promptly furnish to Linder all nouces of amounts due under this paragraph, and in'tltt
<br />even[ Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such paytneMS.
<br />Borrower shall promptly discharge any lien which has priority over Chu Deed of 7"rust provided, that Borrower shall not be
<br />required la discharge any ,uch lien ,o tang a, Bon ewer shall agree m writing to the paymem of the obligation seeurt:d by
<br />such lien m a manner acceptable u, Lender, or shall u, geoJ faith mmest such hen by, or defend enforcement of stieh.lienin,
<br />legal pmceedings which operate n? prevent the enforcement of the lien or forfeiture of the Properly or any pan Iheteof.
<br />5. Nuard Insurance. Barrouer shall keep the improvemems now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended coverage", and such other hazards as Lemke' may require"
<br />and in such amounts and (or such periods as Lcndcr may require; provided. drat Lender shall not require that theamount-at
<br />such coverage ¢xcecd that amount of coverage rcyuired to pry the sums secured by thrs Deed of Tntst.
<br />The insurance carrier providing the imurantr shall be chosen by Borrower subject to approval by Lender; proyidedi-
<br />that such approval shall not be unreasonably withheld. All premiums on insurance policies shall 6e paid in [hr<_ tttippllf-
<br />provided uoder paragraph 2 hereot or, ii not paid in such manner, by Borrower making payment, when doe, dirtpcUy lO~thq,
<br />insurance carrier. -
<br />All insurance policies and rrtnewals thereof shall be in form acceptable to Lender and shall include a s[arida[d tnon~a>s
<br />douse in favor of and in form acceptable to Lender. Lcndcr shall have the right to hold the policies and renewakthereof;
<br />and Borrower shall promptly furnish to Lender all rcnewai notices and cell receipts of pail premiums. In the-tvenF,ofaoas: _
<br />Borrower shall give prompt notice to the insurance sanier and Lender. Lender may make proof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower oQierwise agree in unung, insurance proceeds shall be applied to restoration or rep~tt of
<br />the Property damaged, provided such restoraton or repair is ca>numicall}^ feasible and the st:eurity of this Deed of Trial"jt
<br />not thereby impaired. If wdt restoration or repair is not economically feasible or d the security of this Deed of Tnut would.
<br />be impaired, the insurance proceeds shall be applirJ to the sums craned by this Lamed of T'nts4 with the excess, if any, paid
<br />to Boroower. If the Property is abandoned by Borrower, or if Borrower fads to respond to Lender within 30 days ftWtt"ih0
<br />date notice is mailed by Lender to Borrower that the insurance earner offers to settle a claim for insurance benefits, LatttkP
<br />is authorized to collet[ and apply the insurance pnxeeds at Lender's option either to restoration or repair of the Properly:
<br />or to the sums secured by this Decd of Trust.
<br />Unless Lender and Borrower otherwise agree m wrung, any such application of proceeds to principal shag riot extend,
<br />or postpone the due date of the monthly installments referred to in paragraphs I and ?hereof or change-the"atnount;ot,
<br />such installments. If under paragraph IK hereof the Proper[} i5 acquired by Lender, all right, title and interesFof ~otrotveb-'
<br />in and to any insurance policies and m and to the proceeds thereol resuhing from damage to the Property prior to the talc
<br />or acquisition shall piss to Lcuder ro the extent of the sums secured by this Decd of Trust imtttediately poor to such sale or.
<br />acquisition.
<br />4 preservation and Maiateiwoce of Property; Leaseholds; Condominiums; Planned Ueit DtwehipweNt. Borrower
<br />shall keep the Properly in goa.i repair and shall not comma waste or permit impainucm or delcrioration of the. Aroperfy
<br />and shalt comply with the provisions of any lease if this Iked of Trust is on a leasehold. If this Decd pf Ttvsl 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 condominium or planned amt development, the by-laws and regulations of the.
<br />condominium or planned amt development, and tonsutuem dxuments. If a Condominium or planned unit developnt-.nl
<br />rider is executed by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such rider
<br />shall be incorporated into and shalt amend and supplement the covenants and agreements of this Decd of Trust as if the rider-
<br />were a part hereof.
<br />7, protection of Lender's Security. li Borrower fads w perform the covenants and agreements Contained in this
<br />Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Properly,
<br />including, trot oat limited to, eminent domain, insolvency, Cade enforcement, or arzangementy or proceedings involving a
<br />banktvp[ or decedent, then Gander at Lender's option, upon notice to Borrower, may make such appearant:es, disburse such
<br />wrtn and take wch action as is necessary to protect Leader's imeresf, including, but not limited to, disbursement of
<br />reasonable attorney's fets and entry open the Property to make repairs. If Lender required mortgage insurance as a
<br />CoadiUon of making the loan secured by this Deed at Trust, Borrower shall pay the premiums required to maintain such
<br />insurance in effect until such time as the requirement for such insurance terminates m nccordunce with Bormwer's and
<br />Lxnda's written agreement ar ceppLicable law. Borrower shall pay the amount of all rnartgage insurance premiums in the
<br />L manner provided under paragraph 2 Hereof.
<br />Any amounts disbursed by [•ender pursuant to this paragraph ?, with interest thereon, shall b¢come additional
<br />indebtedness of Borrower secured by this Dyed of Trust. Unless Borrower and Lender agree to outer terms of payment, such
<br />amtwnts shalt M payable upon notice from Lm?der to Borraw¢r requesting payment thereol and shall bear interest frvm the
<br />:ate of dhbursement aR the rete payable from lime ro time nn auLStanding principal under the Mute unless payment of interest
<br />at wch rate wtnttd be Contrary to applicable law, in which event such amounts sfial! Mar mtarest at the highest rate
<br />permissible under applicable law. !lothing contained m this paragraph ' .hail rryuiie Lcndcr to incur ony expense ar take
<br />any action hereunder.
<br />g. faR/tetlaa C.amfer may make ar cateee tr, hC made r'ra4onab(e intriex upi=u oriel ^„pec bons of the Property. pea, ided
<br />that t_tmder xt:atl ghFts Bartawer rwNce prior to an;~ sts.:h inap¢<tiai, sf>ear tying ransr.,nahlc ;:ruse rhrrefar reinted t.. I,en.h•r'.
<br />~nterass in the Pzatxnv
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