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<br />83-n02713
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as foHows:
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<br />I. Payment of Prlnciplll and Interest. Borrower shall promptly pay when due .the principal of and interest on the
<br />indebledness evidenced by the Note, prepayment and late charge. as provided in the Note, and the principal of and intere.t
<br />on a"l FutureAdvances secured by this Deed of Trlls!.
<br />- ~_ fer T......~ ...d IreurJUK.c. Subject to appiicabie iaw or to a written waiver by Lender, Borrower shan pay
<br />to tender on the day monthly installments of principal and interest are payable l",der the Note. un.til 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 tbe Property, if any; plus one. twelfth of yearly premium installments for hazard insurance,
<br />plus one.twelfth of yearly premium installments for morlgage insurance, if any. all as reasonably estimaled initially and from
<br />time to time by Lender on the basis of assessments 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 Federal or
<br />state agency (including Lender if Lender is such an institution). Lender shan apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge for so hnlding and applying the Funds, analyzing said account
<br />or verify-ing and compUing said assessments and bilts, unless Lender payS: Borrower interest on the Funds and applicable law
<br />permits Lender to 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 />require~ sltch interest to be paid, Lender shall not be required to pay Borrower any imerest or carnin~s on the Funds. Lender
<br />shall give to Borrower. without charge, an annual accounting of fhe Funds showing credits and dehlt<; to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security' for the sums secured
<br />by this Deed of Trust.
<br />If tne amount of the Funds held by Lender. together with the future monthly installments of Funds payable prior to
<br />Ihe due dates of ta;l(e~, assessments, insurance premiums and ground rents, shalt exceed the amount required to pay said taxes.
<br />assessments, insurance premiums and ground rents as they faU due, such excess shall be. at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds, If the amount of the Fund~
<br />held by l.ender shall not be sufficient to pay taxes. asr.:essmenls. insurance premiums and ground rents as they fall due.
<br />Borrower man pay 10 Lender any amount necessary to 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 aU sums secured by (his Deed of Trust. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof Ihe Propeny i, sold or the Propeny " otherwi,e acquired by Lender, Lender
<br />shaJl apply. no later than immediately prior to the sale of the Property or its acqul"ition by Lender, ~lOy Funds held by
<br />lender at the time of application as: a credit against the sums secured by this Deed of Trust.
<br />J. Application of Payments... Unless applicable law provide'i otherwise. all payments received by lender under the
<br />NOle and paragraph, 1 and 2 hereof shall be applied hy Lender first m payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note, {hen to the principal of the Note. and then to inrerest and
<br />principal on any Future Advances.
<br />4. Charaes; '.Jens. Borrower shall pay all ta.\C\. assessments .md other ~harges. tInes and Impositions attributable to
<br />the Propeny 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. if not paid in such manner, hy Borrower making payment. when due, directly
<br />to the payee jhereoL Borrower shall promptly furnish to Lender all nOtices of amounts due under this paragraph. and in the
<br />event Borrower shall make payrnenr. direcriy, Borrower shall promptly furnish to Lender receipts evidencing stich payments.
<br />Borrower shall promptly discharge any lien which has priority over this Deed of Trust; proVided, that Borrower shall not he
<br />required to discharge any such lien 'iO long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such hen in a manner acceptable to Lender. or shall :n good fallh conlesl sllch hen by, or defend enforcement of such lien in.
<br />legal proceedings which operate to prevent the enforcement of the lien or forfcilurc (If the Properly or any part thereof.
<br />5_ Hazanllosu....<<. Borrower shaH keep the improvements now eXlstmg or hereafter erected on the Property insured
<br />against Joss by fire. h-azards included within the term "exlended coverage", and such other ha.zards as Lender may require
<br />and in such amounts and for such periods as Lender may require; provided. ihat Lender "hall not require that the amount of
<br />such coverage exceed that amount of coverage required 10 pay the sums set:ured hy this Deed of Trust.
<br />The insurance carrier providing the insurance shall be -::hosen by Borrower subJect to approval hy Lender: provideu.
<br />that such approval &ball not be unreasonably withheld. All premiums on !Osuranee policies shall he paid in the manner
<br />provided under paragrapb 2 hereof or, if not pa.d in such manner, by Horrower making payment. when due, directly to the
<br />insurance carrier.
<br />AU insurance policies and renewals thereof shall be in form ~cceptabl~ to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender- Lender shall have lhe right to hold the policies and renewals thereof.
<br />and Borrower shall promplly furnish to Lender all reney..al nolict:~ and all receipts of piiiJ premiums. In the event of loss.
<br />8orrowet shall give prompt notice to lhe insurance carner and It.~nder. Lender may make proof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower Olherwise agree in writing. lOsurance proceeds s.hall be .lpplied to restoration or repair of
<br />lhe Property damaged. provided such restoration or repair is c(:onomu.:ally feasible ;Illd the sccmity of this Deed of Trust is
<br />not thereby impaired. If such restoration Of repair is not economically feasible or If the security nf this Deed of Trust would
<br />be impaired. the insurance proce.:ds shall be applied to the sum, secured hy this Deed of Tru't, wilh the e.,cess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Horrower fails 10 re.pond to Lender within 30 days from the
<br />date notite is mailed by lender to Borrower that the insurance ~arrier offers to settle a cla.m for insurance benefits.. l.ender
<br />is authorized to collect and apply the insurance proceeds at Lender's oplion either to restoration or repair of the Property
<br />or to the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwi"" agree In wriling, any such application 01 proceeds 10 pnncipal ,hall nol exlend
<br />or postpone the due dale of Ihe monthly installments refetred to In paragraphs I and 2 hereof or change Ihe amount 01
<br />sueh installments, If under paragraph 1 ~ hereof the Propetty " acquired by Lender. all right, tille and inlere,1 of Borrower
<br />in and to any insurance policies and in and to Ihe proceeds lhereof resulrlOg from damage to the Property prior to the :sale
<br />or acquisition shall pass to Lender to the ex lent of the sums secured hy this Deed of TrUSI immediately prior 10 such sale or
<br />acquisition.
<br />6. Pr-.vatlon and Malatenanee of Property; Le....holds; Condominiums; Planned Unit De..lopments. Borrower
<br />.;;haJl k<;cp th~ Property in gouu repair and shall nol ..:on101l1 wasle or pcrmll JmpUlffllcnt O_f Jeterloration (If the Pr~pcrty
<br />and shall comply with the provisions of any lease if this Deed of TrusI i, on a leasehold, If thiS Deed of Trllst I.' on a UOlt in a
<br />condominium or a planned unit development, Borrower shaH peIiorm all of Borrower's obligations lInder the declaration
<br />or covenants creating or governing the condominium or planned unit development, the by-laws ;:Ind rcgu(aliom of the
<br />condominium or planned unit development. and constiluclH document;;;. If a condominium or planned unit dc\"cl()pmcnt
<br />rider is executed by Borrower and recorded together with this Deed (if Trust, the covenants and agrecmcnb of ~llch rider
<br />shall be incorporated into and shall amend and supplement the covenants iind agreement~ of this Deed of Tru~t as if the rider
<br />were a part hereof.
<br />7. Protection or lAnder.. Security. If Borrower f.llls to perform (he covenants and agreemcnb contatncd in this
<br />Deed of Trust, or if an)' action or proeeeding i:s commenced which malerially i1tTccb Lender's interest i.n Ihe Properly,
<br />incJudi.ng~ but no1 limited to. eminent domain, insolvency, code enforcement, Clr arrangements 0r procceJlllgs involving a
<br />bankruPt.9T d.eced~nt. .hen Lende.r at Lender's option, upon notice 10 Borrower, may make such. appcar.trl(,:cs. dishurse su....h
<br />SU.ll1S., ,and._ take such action us is necessary to protect Lender's interest, ind,uding, hut nol limited w. d!:,>ouf'\l:ll1cnt 01
<br />l'e;l$Onable at1(lrney's fees and entry upon the Property to make repairs It Lender re4uir~d mortgage Ins.lIrath:l.~ a'o ;\
<br />con_dition ()f. making the loan $C(:ured by thh~ ~d of Trust, Borrower shaH pay the premium!> required to maintain '\Ih,:h
<br />ill~l:'-_~~e 10 effect until such time as the requirement for such insurance tenninatt\ If1 <1c\.'ordan,e Wllh B~)r~\)wer\ anJ
<br />tC",~r'S,wrtu-en a_8Jt:cme.nt Of applicable law. Borrower shall pay the amount of all mortgage in::.urancc pn:mwms In the-
<br />mannc:r provided undtt. paragraph 2 hereof.
<br />"nr amOtm~s disbUned by Lender pursuant to this paragraph 7, wilh interest thereon. 'ihall hecome additl(}fHll
<br />In_~btedf'lCss llf llon-owcr secured by this Deed of Trust. Unless Borrower and Lender ;'Igfee to other terms of payment. \tl\.:h
<br />Jlmounts shall be payable upon nolic~ from I..endtr to Borrower reque'ting l,aYOle", thereof, and ,hall bea, .ntere,t from ,he
<br />~te of.dlsbursementatthe rate payable from time 10 time OIl nutslanding prinCipal under Ihe Note HUIe" payment o! interest
<br />at SUth. "'te. would be contrary to applicable law. in which event ,"eh .mo"n". ,hall beat wtcrest at the highest rate
<br />permiuible under appH':ll.ble law Nothing contained !O thl! pnragraph 7 ,h:lll reqmre Lender 10 meur any expense or t.ke
<br />any ....!ion hereundtt.. .' ~
<br />-s. 'IaIped_. Lender may ma,k.e {1rcause to be made- fta$onahic er~fne\ lIpon and HI:~pCclh,')n... ot the Propo.."t;ty, pr\J\'idcd
<br />fhat l-Ander 'ibatf give Borrower nmiee poot h~ ;toy 1uch in1<pectfon s.pcclfying rea~ort:Jblc ClH"(' ~h\:rdor ft'!aie-d h) t r-n(kr '\
<br />interest in the Prot>eI1V
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