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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 83- 004056
<br />.1. PaymeDt 01 PrIndpa1 anti Interest. Borrower shall promptly pay when due the pnncipal of and interest on the
<br />indebtedness 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 Trust.
<br />Z. I!mttIir for T_ antIl_ce. 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 ground 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 mongage insurance, if any. all as reasonably estimated initially and from
<br />tiMe to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall he 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 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 />pennits 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 he paid to Borrower. and unless such agreement is made or applicable law
<br />requires such interest to be paid. Lender shall not he required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge. an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpoae 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 the amount of the Funds held by Lender. togelher wilh the future monthly installments of Funds payable prior 10
<br />the due dates of taxes. a'lSessments, insurance premiums and ground rents. shall exceed the amount required to pay said taxes.
<br />assessments, insurance 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 he sufficient to pay taxes. asse<sments. insurance premiums and ground rents as they fall due.
<br />Borrower shall pay to Lender any amount neassary to make up the deficiency within 30 days from the dale notice is mailed
<br />by Lender to Borrower requeuing 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 Lendec If under 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 ils acquisilion 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. AppIlcaIion of PlIymems. Unless applicable law provides otherwIse. all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall be applied by Lender first III payment of amounts payable to Lender hy Borrower
<br />under paragraph 2 hereof. then to interesl payable on the Note. then to the prinCIpal of the Note. and then to interest and
<br />principal on any Future Advances.
<br />4. Ch...a: Lie... Borrower shall pay "II tave<. assessments and "ther charges. fines and impositions attributable tc>
<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 nOuces of amounts due under this paragraph. and in the
<br />event Borrower shall make payment directly. Borrower shall promptly furlllsh to Lender receipts evidencing such payments.
<br />Borrower shall promptly dischar~e any lien which has pnorilY over Ihis Deed (If Trust; provided. that Borrower shall not he
<br />reqUIred to discharge any such hen so long as Borrower shall agree in writmg to the payment of the obligation secured by
<br />such lien in a manner acceptable 10 Lender, or shall III good faIth contest such hen by. or defend enforcement of such lien in,
<br />legal p~nls which operate to prevent the enforcement of the lien ,)I forfeiture of the Property or any part thereof.
<br />5. H ~. Borrower shall keep the Improvements now e"stmg or hereafter erected on the Property insured
<br />againSlloss by fire. hazards included within the tenn "extended coverage". and such other hazards as Lender may require
<br />and in such amounLS and for such penods as Lender may reqmre; pruVlded. that Lender shall not reqUIre that the amount of
<br />such coverage exceed that amount of coverage reqUIred to pav Ihe sums scctlred by thIS Deed of Trust.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject !" approval by Lender; proVIded.
<br />that sucb approval shall nol be unreasonably Withheld. All premiums on msurance policies shall be paid in the manner
<br />provided under paraaraph 2 hereof or. If nOI paid in such manner. hy Borrower making paymenl. when due. directly to the
<br />insurance carrier.
<br />All insurath.'e policies and renewals tm:reot shall be In form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable 10 LendeL lender shall have tm: nghl to hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish to Lender all renewal notices and all receIpts of paid premiums. In the event of loss.
<br />Borrower shall give prompt nOlice 10 the insurance carner and l.endeL Lem.ler may make proof of loss If not made promptly
<br />by Borrower.
<br />Unleu Lender and Borrower otherwise agree in wntmg. lnsurance proceeds shall be applied to restoration or repaor of
<br />the Property damaged. provided such restoration or rei,alf " economKally feasible "nd the security of this Deed of TrusI is
<br />notthereby impalfed. If such Je$torallon or repair IS not ecvnOlntcally feaSible or Ii the ",,,urily of this Deed of Trust would
<br />be impaired, the insurance proc<<ds shall be applied to the sums secured hy this Deed of Trust. with the excess. if any, paid
<br />10 Borrower, If the Property is abandoned by Borrower. vr if Borrower fails to respond to Lender within 30 days from the
<br />date nollce is mailed by Lender to Borrower that the IIlsurance carner otIers to seUle a claim for insurance benefits. Lender
<br />is authorized to collect and apply the insurance prOL-eeds at Lender's option eilher 10 restoration or repair of the Property
<br />or to the lumS secured by Ihis Deed of Trust.
<br />Unless Lender and Borrower otherwise agree III wruing, any such applicatIon of proc<<ds to principal shall not extend
<br />or postpone the due date of the montbly installments referred 10 III paragraphs I and 2 hereof or change the amount of
<br />such installments. If under paraeraph III bereof the Property IS acquared by Lender, all right. title and interest of Borrower
<br />in and to any insurance policio and in and to the proceeds lhereof resultmg from damage to the Propeny prior 10 the s"le
<br />or Sl;<juisition shall pass to lender to the ""tent of the sums secured by this Deed of Trust immediately prior to such sale or
<br />acqulsitioa,
<br />6. ~.... lI" 'r' 'I e of PrvperIJ; leMdaoJds; Condomilliums; P!allIled Vall Developmellts. Borrower
<br />shall keep the Propen.y in good repalT and shall not cumnllt wa.le ,,, permn impaormenl or deterioration of the Property
<br />and shall comply with the provisions of any lease if tbis Deed of Trust is on a leasehold, If this Deed of Trust is on a unit in "
<br />condominium or a planned unit development. Borrower shall petform all of Borrower'. obligations under lhe declaration
<br />or covenants creatin& or governing the condominium or planned unit development, the by-laws and regulations of the
<br />condominium or pIaoned unit development. and constituent documents. If a condominium or planned unit development
<br />rider i. executed by Borrower and recorded together with Ihis Deed of Trust, the covenants and agreements of such rider
<br />shall be incorporated into and sbaIl amend and supplement the coeenants and agreements of this Deed of Tntst as if the rider
<br />were a pan hereof.
<br />7. PruCedioII 01 LetMIer. Secllrily. If Borrower falls to perfonn the covenants and agreements contained in Ihis
<br />Deed of Trust, or if any action or prooeedinll is commenced whicb materially affects Lender's interest in the Property.
<br />inclu4inc. but not limited to, eminent domain, ill5Olvency, code enforcement, or arrangements or proc"eding:s involving a
<br />banltrupt or deeedent. then lender atl.ender's option. upon nOlice to Borrower, may make such appearance." dishurse such
<br />sums and take such action as is necessary to protect Lender's interest. including, but not limited to, disbursement of
<br />rtllIODllbIc altqmey"s fees and enhY upon the Property to make repairs, If Lender required mortgage insurance as it
<br />C!Hldi1ion of maltina the /oaQ $Cl:UUld by this Deed of Trust, Borrower shall pay the premiums required 10 maintalll >llch
<br />illlUtaDOO in elfeet writ such tlmo as. the nlquirem<mt for such .muranee terminales in accordance with Borrower's "ud
<br />leader. ......'.l ~.. . ...-r.. . or appljcable law. Borrower shall pay lhe amount of all mortgage insurance premiums in the
<br />.._ provided \IIldlDr paraaraPl1 2 hereof.
<br />Ail)'.1llIOUlltS ~ by Leader pursuant t(l this paraeraph 7, wilh IIlterest thereon. shall become additional
<br />i~ of Borrower SOC1mlCIby this Deed of Trust. Unless Borrower and Lender agree to other terms of paymem. such
<br />a~ .shaD be JIll~ \lpun notk:e from tender to Borrower request in, paymenl thereof. and shall bear interest from the
<br />. of ~at llM> "'14 JIllyab/o from time to time 00 outstanding principal under the NOIe unl_ payment of interest
<br />at ~ rue woWd be COIItrlllY to applicable law. in which event such amounts shall bear interest at the hlghesl rot"
<br />~ under applicable law. Notliina contained in this parasraph 7 shall require Lender to i~'Ur any expense or tab
<br />1Il!1~~.
<br />". ... .. ..... . .. .....'. ~ lIUly make Of Cl\utc I(.) he made reallOna.ble entries upon and u"pectiOO" 01 the Propert\-, provi<k-d
<br />tbat ~. .Jivc Borrower lIolire ptlot to any such inspection .pecifyina tUSOnable caU"e theret", relnted in tender's
<br />lllter_ 1ft y,
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