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<br />83-003683
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<br />UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows:
<br />~[. PayRlellf ~tf Prindpal amf Interest. Borrower shall promptly pay when due ,he principal of and interest on the
<br />indebtedness evidtmced 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 Tmst.
<br />2. Funds for Taxes amf Insunmce. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly installments 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 gro\Jnd rents on the Property, if any. plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any. all as reasonably estimated initially and from
<br />time to time by Lcnder 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 />statl: agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes. 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 bills. 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 Trustthat 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 not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shalLgive to Borro......er, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose Jorwhich 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 />Iff:heamount ofiheFundsheld by Lender, together with the future monthly installments of Funds payable prior to
<br />ti:!eduedates oUaxes, asscssments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />as.~essme~ts,jns~mmce premiums and, ground rents as they fall 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 Funds
<br />held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall duc,
<br />Borrower shall pay to 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 all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower any Funds
<br />held by Lender..If !lnder paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender. Lender
<br />shall apply, no later than immediately prior 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, Application of Payments. Unless applicable law provides otherwise. all payments received by Lender under the
<br />Note and paragraphs J and 2 hereof shall be applied by Lender first in paymcnt of amounts payable to Lendcr by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />principal on any Future AdVances.
<br />4, Charges; Hens. Borrower shall pay all taxes. assessments and other charges, fines and impositions atlributable to
<br />the Property 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. by Borrower making payment, when due, directly
<br />to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the
<br />event Borrower shall make payment directly, Borrower shall promptly furnish to Lender rcceipts evidencing Stich payments.
<br />Borrower shall promptly dischargc any lien which has priority over this Deed of Trust; proVided, that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith conlest sllch lien by. or defend enforcement of sllch lien in.
<br />legal proceedings which operate to prevent the enforcemcnt of the lien or forfeiture of the Property or any part thereof.
<br />S, Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended covt~rage", and such other hazards as Lendcr may require
<br />and in such amounts and for such periods as Lender may require; provided. that Lender shall not require that the amount of
<br />~uch coverage exceed that amount of coverage required to pay the sums secured by this Deed of Trust.
<br />The insurance, carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; proVided.
<br />that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policieS and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish to Lender al! renewal ootices and all receipts of paid premiums. In the eVent of Joss,
<br />Borrower shall give: prompt notice to the insurance carrier aod l.ender. Lender may make proof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in wriling, insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the security of this Deed of Trust is
<br />not thereby impaired. If such restoration or repair is not economically feasible Of if the security of this Deed of Trust would
<br />be impaired, the insurance. proceeds shaH be applied to the sums secured by this Deed of Trust, with the cxcess. if any, paid
<br />to Borrower. If the .Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier .offers to settle a claim for insurance benefits. Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or to. the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments, If under paragraph 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resulting from damage t.o the Property prior to the sale
<br />or acquisition shall pass 10 Lender to the cxtent of the sums secured by this Deed of Trust immediately prior to such sale or
<br />acquisition,
<br />6. Preservalion and Maintenance of Properly; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />shaH keep theJ'ropeny in good repair and shaH nOl ('()mmit waste or pcrmit imp;lirment or deterioration of the Property
<br />andsilallco01plywiththeprovisiOllS of any lease if this Deed of Trust is on a leasehold, If this Deed of Trust is on a unit in a
<br />cond,lminiurn pr a platlned unit development, Borrower shall perJonn all of Borrower's obligations under the declaration
<br />orcovenan.tscreating or governing the condominium or planned unit development, the by-laws and regulations of the
<br />colldoI'llinium or planned unit development, and constituent documents. If a condominium or planned unit development
<br />ri,jerisexecuted by Borrower and recorded.r.ogether with this Deed of Trust, the covenall!s and agreement.s of such rider
<br />shallbeincorPj)ratJe(iinlO and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider
<br />were a part hereof.
<br />'!. Prote~til)n of Lender's security. If Borrower fails to perform the covenants and agreements c'ntained in this
<br />DeedgfTrU:St, or)fanyaction or proceeding is commenced which materially affects Lender's interest in the Property,
<br />incjt<<iip.!S'llutn(ltJi~itedto, cnlincllt dl)n1,ain, insolvency, code enforcement, or arrangements or pwceedillgsinvoJvi.ng a
<br />banl,,"upt Pfdfll;edent, tben Lender at Lender's option, upon notice to Borrower, may make such appearances. disburse such
<br />sums. .andtake$uch action as is necessary to protect Lender's interest. induding.. hut nol limiled to, disbursement of
<br />andentryupoll the Pwperty to make repairs. If Lender required mortgage insurance as
<br />9ythisp~lof Trust, Borrowcr shall pay the premiums required to maintain
<br />too. require",.entfor slIch insuTllnee terminates in aceordllnc<). with Ik>rrower's
<br />bleJ~w. Borrower shall pay the amount of all (nortgage insuTance premiums in
<br />creoL
<br />pl.lfsuant to this paragr~ph7, with interest thereon, shall hecome add'tional
<br />Deed of TT'llst.. Unless.l.lorrower and Lentl<:T agree to other terms of payment, sllch
<br />1l.(jt1c.: from LenderlC1 Borrower reqllCSling payment thereof. and shallbe!o\r inlerest frOr!).lhe
<br />,~l11l;:ntatthe.l'alepllyabl~fromtimc to time on outsltwding princip,d under the Note unless paYment of interest
<br />l'II,fOtrch rat~. Wot1lll. be c:pnrury to applicilPle Jaw. in which evenl sueh amounts shall hellr infere,! 'It the highest
<br />permi$sitl'le underllPplict~ble law. Nothing conhlined in this 7 ,hall require Lender 10 IIlCI.lf any expenseoT
<br />!mY aPtll'tl.l!el'llulltllCI'.
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<br />l'IW[l and In.,p'~\'l'ons of th!.'
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