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<br />UN1FORM COVENANTS. Borrower and Lender co\'cn3!11 and agree as t['!lows:
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<br />1. Paymmlt l~ PriillcipaJ and Interest. Borrower 5haii promptly pay when due ,he principai 0f and interest G:1 the
<br />mdebtedness evidenced by the Note. 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 1'rust.
<br />2. Funds iior TUftland IDS1II'1IIKe. Subject to applicable !;:.", or to a written waiver by Lender. Borrower shall pay
<br />to Lender on the day monthly installments of pnncipal 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 0,( yearly premium installments for mortgage insurance. if any. al! as reasonably estimated initially and from
<br />time to time by Lender ,)n the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds 1,hallbe held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />slate ageocy (including Lender if Lender is such an institulion). Lcnder shall apply the Funds to pay said talltes, assessments,
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds. analyzing said account
<br />or verifying and compiling said assessments and hills, unless Lender pays Borrower interest on the Funds and applicable law
<br />petmits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of thIS
<br />Deed of Truslthal' 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 nOI be required to pay Borrower any inte'rest or earnings on the Funds, Lender
<br />shall give to Borrower. without charge, an.annual accounting of the Funds showing credits and dehitsto the Funds and the
<br />pU!"pO!!e for which ~C;:h debit to the Fll!1d~ was made. The F!Jnd~ are pledged as additional security for the slims secured
<br />by this Deed of Trust. -
<br />[f the amount of the Funds held by Lender, together with the fUlllre monthly installments of Funds payable prior tD
<br />the due dales of taxes, assessments, insuraIlce premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, ins~lrance premiums and ground rents as Ihey tall due. slJch 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 Funds
<br />held by Lender shall not he sufficiellt 10 pay taxes. assessments. insurance premiums and ground rents. as they fall due.
<br />Borrowershal! pay to l.ender any amount necessary In make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting paymem thereof,
<br />Upon payment in full of all sums secured by this Deed of T'rusl, Lender shail promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph I g hereof llle Properly" sold or the Property is otherwise acquired by Lender, Lender
<br />shall a.pply, no IME~r than immediately prior to Ihe sale of the'. Property or its acquisition by Lender. any Funds held by
<br />Lender at the time of applicsti()n as a credit against the slims secured by this Deed of Trust.
<br />3, Appliclldo,ft of "Payments. Unless applicahle jaw provide:; otherWise, all paymems. received by Lender under the
<br />Note and paragraphs I and 2 hereof shall be applied bv Lender first m payme.nt of amounts payable to Lender by B.orrower
<br />under paragraph 2 hereof. then to interest pllyabk~ 011 the NO!e. then to the prinCIpal of the No!(~. and then to interest and
<br />principal on any Future Advances.,
<br />4. Charges; Liens. Borrower ~hal! pay all ,.axes. li'iSCSSll1CIHs <md olher charges. fines and .mposllions attributable 1.0
<br />the Property which may attain a priority over this Deed of TrUSl. ,1Ild leasehold payments or ground rents, if any. ill the
<br />manner provided under paragraph 2 hereof or. if not paid ill such manner, by Borrower making payment, when due, directly
<br />to the payee lheTieoL Borrower shaH promptly furnish hl Lender all nOllce, of amounts dllt~ under this pilrag.raph. llrid in the
<br />event Borrower .hall make payment directly. Borrower shall pmmptly furmsh to Lender receipts evidencing such paymllnts,
<br />Borrower sha.H promp!!y discharge any lien which !\liS priority over this Deed of Trus!: provided, .that Borrower sball not be
<br />reqUired to discharge any such hen so long liS Bormwcr shall agreem writing to the pllyment of Ine,)bligation St'curcd by
<br />such jienin a manner lli::ceptablc to Lender, or shall m good faith COnIeS! $och lien by, or defend cl1fol'c,~mcnt of such lien in.
<br />legal proceedings which operate 10 prevent the enforcement (11' lhe lien or forfeiture of the Property or any part lhercl1t'.
<br />S. Hazard btsurncc, Borrowe~r shall keep lhe Improvcm'~nts now CXI51mg or hereafter erected on the Property insured
<br />ag.amsll()S$ by llire" hllza.rds included within the term "extended cover;lgc', and snch other hazards as Lender may reqnire
<br />and in such am('Ulll~ and for such periods ;,s Lender may reqUIre; provided, that Lender sfHlll nOI require that the amount 01
<br />such coverage cxce:ed that amount of i.:o~'crage rcqUlri.:'d to pay the sums se\:ured by !his Deed of Trust.
<br />rhe insurance carrier providing the il'lsunuH:c Shllll be chosen by Borrower subj,:;;:l to approv,tl by Lender; pl'Ovided.
<br />that such approval shll.1l not be unreasonably withheld. All prerniums on losurance policies shaH be paid in the maImer
<br />provided under paragraph::? hereof Ot, 111101 paid in such rnarmer, by Borrower !l1a.king payment. when due, directly to the
<br />ill$u.raJ1Ce carrier.
<br />AU msucan<::e policies and renewals thereol shall be 10 torm a,:eeptable to Lemler and shall Hldude a standard mortgage
<br />dause in favor of llod in form <ieceplable to LerH.i<~r. Lender Sh,lll h:we till: I(! hold rhe pnlicies and renewals thereof.
<br />and Borrower shiill prornplly furnish 10 Lender alt reney,al qotK"CS and all .'1 p~ld p!'emiums. In the eV4~nt of loss.
<br />8orrower shall glVf: prompt notice to the InsuraIH:,: can,,:! and Lender, Lender may m:ikc proof of loss If !wt made promptly
<br />by Borrower.
<br />Unles~ Lender and Borrower otherWise in wfltmg. If1sur;UKC shall he a(>plied tt\ n:s\mllllon Of replm of
<br />the Property damaged, provided sllch . or rcrall " tCi.sibk ;md the s"i;lIrity of this Deed or Trust is
<br />not thlm::by lmpain=d. Ii such restoration ;,)r repa;>: IS not feasible or Ii the ,ecurity of this Deed of Trust would
<br />be impaired, tbe iI1SUYiHH.:e proceeds shaH be ;applied to Ihe ;wnl, secured by Ihis Deed of T'rust, with lhe eXt:ess, il allY, paid
<br />10 Borrower, If lhe Property I:> abandoned by Bn!T()wli:'. Ill' Borrower !'illls 10 I(l Lender within 30 days from the
<br />dale n(rtiee is mll..iled by Lender to Born>wer Ihat the inSUl"illlCe carrier olfers \0 ,1 chum for ,m,manee benefits. Lender
<br />is IUlthorized h1 colle(:t lUldapply the insul'<ince pWi:I'.'eds ,It Lender's "plion eIther 10 l'eSWralion or repair of the Property
<br />~)r tOIM sums secured hy tlU$ Deed of Trust. .. .
<br />Unless Lender and Borrower OIhcrwis.e agre,~ III wdlmg, such :lpphcati.on of proceeds w principal shall nlll extend
<br />or po8lpQne the due date of the monthiy Illstallments referred III paragJaphs I and her<"-lf or d1ange the amount of
<br />such illl,tallments. if under paragraph 18 hereollhe Properly I., ;.c:quired by Lender, all ti!le and interest of Borrower
<br />!nand to allY illsuT<lI'u:e policks and in aJ1d lU the pro<:eeds thereof resulting from dam~ge the Property prior to the sale
<br />()f acquisition S.hllll p2$S to Lender 10 the extent of the sums secured by this Deed of Trust immediately prior to such sale or
<br />ac~uisitkm<
<br />IS. Preservation and M.tenllnt'c l>f Property; Leaseholds; Condominiums; Plullned Volt I>evelopments. Borrower
<br />~h.a!! kc.ep the Property lfl glXI<j rep;ur :ll1d shall no; ,(Hnnlll. waste \11 lX;rmll. 01" cktel'ttlrali<m of l.ne Property
<br />.and shall comply with the oj allY leasc if this /)(.x~d of Trusl is on a If this Deed of Trust is on a unit in II
<br />cond.ominiullI (,r de'~elopmenl, BOl'mwer sll:,1I ail of Bon'"wefs ohligallo!'ls under tile declaration
<br />or CO\lCtllUlts governing the condominium or unit development, the by-laws ;1Od regulations of the
<br />condominiwn unit development. and COI.l,slltuent do<;uments, If a .:ondominiWIl or planned Llo.it developmcm
<br />rideri:s and recorded together with lhis Deed of Trust, lhe covenants and agreements of sLlch rider
<br />shail be shall amend and supplemelll the l.:<well:illltJi ,100 agreements of tbis Deed of Trust <\s jf the rider
<br />were".
<br />7.
<br />.~
<br />including,
<br />bankrupt or
<br />1\:utnIl <I.!'ia
<br />reasonable
<br />CmW:it$Oll
<br />iniUnll"U;.e
<br />l.c~'$
<br />
<br />lhe covenants and agreements ill this
<br />malcnally affects Lemler', intercSi ill Property,
<br />enfor.:emenl, or arr;mg:ements or involving a
<br />notice W Borrower, IN,>, make "uch appearal\CC~, such
<br />including, but limited to, disbursement of
<br />H l,cndc;r mortgage insurance as a
<br />shall the rcquired !O niaimain '.;\11.:11.
<br />with I.k'!r<lwer's and
<br />pn:mlums in the
<br />
<br />punuant to
<br />r~d of Tn.t.!
<br />Lender w a.,rrOWCI
<br />fate pAyable from lime to lime on
<br />I.,) applicablf Ill","" in whl\:h Itvenl
<br />law, Nothing ~onl.i\.mcJ m 1111' jlar;llll'aph '
<br />
<br />interest thereon. ,hall
<br />Lender :Igre<<: 10 other \er!"tl~
<br />and $haH beat lhe
<br />NQll' Imll::!iS paymem of il\l~r<:s!
<br />.U'IWlmh "hall bell( Inkr<'"l ill the hlghe.st nne
<br />~hl{li li:quilC LCl'luet 10 m;':1Jf ,Hll" t"xpo:n1t\'~ nr lake
<br />
<br />
<br />{,r CIHlJ>e 'n ~ m~.de rtu'\''lll:,bk
<br />ph'lf 1(; :tIlY ~Udl in~pe<;t"~l'l
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<br />'.l~)I,'>n 'H,d m,pc'uml1' Ilf Ill..:
<br />rehson~hk \:;~nl'j( thr:r-ChH
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<br />(fHler'\
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