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<br />83-004158
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<br />UNIPORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />,1, Payment of Prlnelplll and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indehtedness 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 />2. Fuds for Tuee ud IlJ5JJI'IJnee. 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 mortgage 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 be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />slate 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 liSSeSSments 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 Trust that 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 />shall give to Borrower, without charge, an annual accounting of the Funds showing 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 the sums secured
<br />by this Deed of Trust.
<br />If the amount of the Funds held by Lender, 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 />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 crediled 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 due.
<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 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 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 I and 2 hereof shall he applied hy Lender first 10 payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the NOle, and then to inlerest and
<br />principal on any Future Advances,
<br />4. CblllpS; Liens. Borrower shall pay all laxes. assessmenls and other charges. fines and ,mpositions allributable to
<br />the Property which may attain a priority over Ihis 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 thereof. Borrower shall promplly furnish to Lender ali nOlices of amounts due under Ihis paragraph, and in the
<br />event Borrower shall make paymenl directly, Borrower shall promptly furnISh to Lender receIpts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Deed of Trusl; proVIded. that Borrower shall nol he
<br />required 10 discharge any such lien so long as Borrower shall agree in writing .to the paymenl of the obligalion secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith contesl such hen by, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the lien or forfcilufC of Ihe Property or any part thereof.
<br />5. Huard IIISlIlJUICe. Borrower shall keep the Improvements now e"stmg or hereafler erected on the Property insured
<br />against loss by fire. hazards inciuded within Ihe term "extended coverage". and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may require: provided. that Lender shall not reqUIre thaI the amount of
<br />such coverage exceed that amount of coverage required to pay the wms secured by thIS Deed of Trust.
<br />The insurance carrier providing the insurance shall be chosen by Borrower suhject to approval hy Lender: provided.
<br />that such approval shall not be unreasonably withheld. All premiums on insurance policies shall he paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making paymenl. when doe. directly to the
<br />insurance carrier.
<br />All insurance policies and renewals Ihereof shall be JIl form acceptable 10 Lender and shail include a standard morlgage
<br />clause in favor of and in form acceptable to LendeL Lender shall have the nght 10 hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish 10 Lender all renewal nolices and all rece'pls of pa,d premiums. In Ihe event of loss.
<br />Borrower shall give prompl nOllce 10 Ihe ",surance camer and Lemler. Lender may make proof of loss ,[ nOI made promplly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree In writing. IOsurance pnx:Cf..."tis shali be applied to restoration or repair of
<br />Ihe Property damaged, provided such resloralion or repaIr" economIcally [easible and Ihe security of IhlS Deed of Trusl IS
<br />nol thereby impaired. If such restoration or repalf IS not economically feaSIble or If the security of this Deed o[ Trusl would
<br />be unpaired, the insurance proceeds shall be applied to the stUllS ,",cured by Ihis Deed of Trust, w'lh the excess. .f any, paid
<br />10 Borrower. If the Property is abandoned hy Borrower, or if BorrL',,'er [ails to respond 10 Lender withm 30 days from the
<br />date notice is mailed by Lender to Borrower thai the Insurance carrier offers to settle a daim for insuram;c benefits. Lender
<br />is authorized to coll""t and apply the insurance proceeds at Lender's option ellher 10 reslorat,on 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 ex lend
<br />or postpone the due date of tbe monthly installments referred 10 tn paragraphs I and 2 hereof or change the amounl of
<br />such installments. If under paragraph 18 hereof the Property" acquired hy Lcnder, all right, title and inlereSt of Borrower
<br />in and to any insurance policies and in and to the proceeds Ihereof resulllng from damage to the Prope.ty prior to the ,ale
<br />or acquisition shall pass to Lender to the extent of Ihe sums secured by thIS DeL'" of Trust immediately prior to such sale or
<br />acquisition..
<br />6. Presenlllloa..... MalBtenaace of Property; Leaseholds; Condominiums; Planned Unit De.elopmenls. Borrower
<br />shaH keep the Property in good repalf and shall nul commit y,aSlc \.If pennu impaifmCnl Of delcrillralion of the Property
<br />aod shall comply with the provisions of any lease if Ihis Deed of Trust is on a leasehold. If thiS Deed of Trust is on a unit in "
<br />condominium or a planned unit developmeot, Borrower shall petform all of Borrower's obligations under the declaration
<br />or covenants creating or governing the condominium L>f planned unil development, the hy-laws and regulations of the
<br />condominium or planned unit development, and const,luent documents. If a condominium or planned unil development
<br />rider is executed by Borrower and recorded togelher with this Deed of Trust, the covenants and agreements of such rider
<br />shall he incorporated into and shall amend and supplement lhe covenants and agreements of this Deed of Trust as if the rider
<br />were a part hereof.
<br />7~ ProtedIoa of Leader'. Security. If Borrower fails to perf'orm the covenants and agreements contamed in this
<br />Deed of Trust, or if any action or proceeding is commenced which malerjally affect> Lender's interest in the Propeny.
<br />includinll, but IlQt limited to, eminent domain, insolvency, code enforcemenl, or arrangements or proceeding> IIlvolving a
<br />bankrupt or <kcedCOI, then Lender at Lender's option, upon notice to Borrower, may make such appearances. dishurse such
<br />sums and, take such action as is nCCC$S8ry to protect Lender's inlerest, including, but not limited to. disbursement o[
<br />r~able attorney's fea and entry upon the Property to make repairs, If Lender required mortgage lIlsurance as a
<br />col1di1ionot.makiD& !be loan SCl:Ufed by tbis Deed of Trusl, Borrower shall pay the premiums r~'qujred to maintain such
<br />illS~in elfe;:( until such time as the requiremetll for such insurance terminates in accordance wilh Borrower's and
<br />Leuder'. wri~n IlJTeCIllCfIt or appllg,bie law. Borrower shall pay the amount of all mortgage insurance premiums in Ihe
<br />manmilr ~ldlld .~ parqraph :2 hereof.
<br />AIlY.~ d~ by IMlder pursUllnt to this paragraph 7, with interest thereun.shall hecome additional
<br />i~Qt B/)lTQW!lr $Cl:.uced by this Deed of Trust. Unless Borrower and lender agree 10 other terms of payment, such
<br />lIlllOUllts $ball hepayllble upon notice from l..eoder to Borrower requesting payment thereof, and shall bear interest from the
<br />_ of dhPu~.t IlM:rate payable front time to lime on outstanding principal under the Note unless payment of intere.st
<br />"",~hr.tc \ro\II4be COAkary to ll{lilIicable law, ill which event such amounts shall bear intere.st at the highest r.lc
<br />~ lIJlde('applh:able law, Notliing contained in this paragraph 7 shall reqoire Lender to incur any expense or lake
<br />i14Y lli:tilMl~.
<br />.. .. . . . may make or cause to he nlade rea.sonable enlries upon and inspect"",s of the Property, provided
<br />tbat Len;der Ik!'nowet notie:<: prior to any such in.pection specifying rea><:m.ble caus" therefor relaled to Lcmlc,',
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