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<br />004174
<br />UNIFOJlM COVENANTS. Borrower and l.ender covenant and agree as follows: 8~--
<br />.t. Pay_ of PrItIdt-I .... Iltterest. Borrower shall promptly pay when due the princlp~ of and inlereSI on the
<br />indebtedn... evidenced by the Note, prepayment and late charges as pnlVided in the Note, and the principal of and inleresl
<br />on any Fulure Advances secured by this Deed of Trust.
<br />2. ...... for T_ .... 1_. Subject 10 applicable law or 10 a wrillen waiver by Lender, Borrower shall pay
<br />10 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-twelflh of Ihe yearly laxes and aSSC!lsmenls which may altain priority over this
<br />Deed of Trusl, and ground renls on lhe Property, if any, plus one.lwelflh of yearly premium inslallmenls for hazard insurance.
<br />pl~ one-twelfth of yearly premium installments for mortgage insurance. if any, all as reasonably eslimated inilially and from
<br />time 10 time by Lender on the basil of assessments and bills and reasonable estimales thereof.
<br />TIle Funds shall be held in an institution the deposits or accounts of which are insured or gllltranleed by a Federal or
<br />state agency (including Lender if Lender is such an instilution). Lender shall apply the Funds 10 pay said taxe., as.essments,
<br />insurance premiums and ground renls. Lender may nol charge for so holding and applying the Funds, analyzing said account
<br />or verifying and compiling said _ents and hill., unle.. Lender pays Borrower interest on the Fund. 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 lhe Funds shall he paid 10 Borrower, and unles. such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not be required to pay Borr<lwer any interest or earnin~ on the Funds. Lender
<br />shall give to Borrower, without charge, an annual acc01lntmg of the Funds showmg credits and debns to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged 3.S additional security for the sums secured
<br />by this Deed of Trust.
<br />H lhe amount of the Funds held by lender, IOgether with lhe fulure monthly installmenls of Funds payable prior 10
<br />the due dales of lax... assessments. iMuran"" premiums and ground rents, sball exceed lhe amount required 10 pay said laxes.
<br />assessments, imu,ance premiums and ground rents as lhey fall due. such excess ,hall he. at Borrower's option, either
<br />promptly repaid to Borrower or credited 10 Borrower on monthly installmenls of Funds. If Ihe amount of Ihe Funds
<br />held by Lender shall nOI be suffiCJenl 10 pay laxes. asscssmenr.. insurance premiums and ground renl. as they fall due.
<br />Borrower shall pay to Lender any amol1nl necessary to make up the deficiency WIthin 30 days from the date nOlice is mailed
<br />by Lender to Borrower reqU&.lting payment Ihereof.
<br />Upon payment in full of all sums secl1red by th.. Oced of Trust. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph IR hereof Ihe Properly" :;old or the Property is olherwlse acquired by Lender. Lender
<br />shall apply, no later lban immedtately pnor to the sale ut the Pmperty or its acquiSItion by Lender, any Funds held by
<br />Lender at the time nf application as a credit againsl the sums secured hy thlS.Deed of Trust.
<br />3. AppIkadoft of Payments. Unle... applicable law proVIde. otherwise. all payments received hy Lender under the
<br />Nole and paragra~ I and 2 hereof shall be applied hy Lender firs. m payment of amounts payable 10 l.ender by Borrower
<br />under paragraph.. hereof, then to inleres. payable on the Note. Ihen to the pnnclpal of the Note. and then to inlerest and
<br />\>nncipal (lfl any Future Advances.
<br />4. C'Itaqa.; I..ie8I.. Borrower maJl pay aU ta:o\:e.... assessmenf'> and other charges. fines and imprnntions auributable to
<br />the Property whieh may altam a pnority over .hlS Oced of Trust. and le"""hold payments or ground rents. if any, in the
<br />matt""T provided under paragraph 2 hereof or. if nOI paid In ",ch manner. hy Borrower makmg payment. when due, directly
<br />10 lhe payee thereof. Borrower ,hall promptly furnISh to Lender all nOllee' of amounts due under this paragraph. and in Ihe
<br />eYenl Borrower shall make paYnKnt ditectly. Borrower shall promplly f"rnlSh to Lender receIpts evidencing such payments.
<br />Borrower .nall promptly di>eharJe any lien which has pnonty over th" Deed of Trust: proVIded. that Borrower shall nol he
<br />requtred to docharge any such hen", long as Borrower .hall agn,e In wrUmll Hl Ihe paymenl 01 the ohilgalion sc<:ured by
<br />such !ten ,n a manner acceptable to Lender, ,)f shllll in good (;lIlh <,<>nle>! ",ell Iren by. or defend enforcement of such lien in.
<br />legal ~ls which operate to preVent th<: enhm:ement of the hen or forfeiture of lhe Property or any part thereof.
<br />~,..... 1__, Borrower shall keep the .mprovemenlS now e"stong or hereafter ereeted on Ihe Property insured
<br />~gain" loss by fire. h~zards induded withIn lhe leno ~ex[ended ",veraI!<''' and "Kh other haLllrds as Lender may require
<br />and m such amoun.. and for weh per.nd. a, Lender may require, proVided. that Lender shall not reqUIre Ihal the amount of
<br />\uc-h coveraee e.\c<<d that amount of coverage rcqwrcd h.l pay the sums '-e~ufe-d by thiS Deed of Tntst.
<br />The insuraw:--e t;:atrier provu.hng the in~uram:e '\-hall be ~hO~fi t'<y Horrower $ubiect to approval by Lender; provided.
<br />that sucll approval shall not be unre.uonably withheld. All premlu'.n, on ,"surance policll'" shall he paid in the manner
<br />provided undot par1OJf&Pb 2 bereot or, If not paId III such manner. h~ !k>rrower maklOg payment, when due, directly 10 th.,
<br />ioauraooo anio:l.
<br />All,rnurauce poilcie> and renewals Iherevt .hall he III 1m", a"ccptable to Lender and ,hall include a standard mongage
<br />clau.., in fllvor 01 and in form a"eptable 10 Lender Lender ,hall have Ihe rIght to hold lhe policies and renewali Ihereof.
<br />and Borro.....' .hall promptly furnish It.. l.ender all renewal "<llIc"" and all rI..,~e.pU of paid premiums. In the evenl of Io>s,
<br />Bo'roy,~ shall g.ve prompt not.ce ((l Ih. ">~ural"'< ca'..'" .tnJ Lender. Lender "'.Y make proof of loss If nol made promptly
<br />by Borrower.
<br />Unless LenOe-f and Borrower otncrwl.SC .itire-e 1ft \.\- ntH\g. ws-unuH.:C pf(X.'ee<.b :Jlall be applted to restoration or repatr of
<br />lhe Property damased.. pruvided such restorahon or fcpan 1"- t"~(iJ1omt(ally fea~jblc iH\d fhe security of this Deed of Trust IS
<br />not <<hereby impaired. If such resH....'lfatuln Of fCp3Jf 1\ nol c,,;unonlK"Uy fealJb1c uf If the iecurity of thiS Deed of Truli-t would
<br />he ,mpaired, the insurance procC<!ds .nail be applied to Ihe sunu secured hy this Deed <If Trust, With Ihe exce.... if any, paid
<br />IQ Borrow..r. It.he Property" abandoned!>y BoHowe.. 0' if Bo,wy,er I.tls 10 n"pond 10 Lender within 30 days from the
<br />dak notIce is mailed hy Lender to Borrower Ihat Ihe Hlsur..nc" carl"'r ..,ffer. 10 settle a clam> for insurance benefils, Lender
<br />is ..ulhori~<i to eoileet and apply tbe inluran... proceeds at Lender'. opllon eilher 10 reslorati"n or repair of lhe Property
<br />or to the SUlm _ured by Ihis Deed of Trust.
<br />Un'- t.ender and Borrower orhetwi", agree '" wHlIng, any ,w:h appllcallon of proceeds to principal shall nol extend
<br />")f politpone the due dllte of the monthly irntallments re/erred 10 In paragraphs I and 2 hereof or change lhe amount of
<br />~b inSlllUments. If underparagrapb I S heron! the Properly" aC<jUl,ed by Lcndel, all nght, lille and Interest of Borrower
<br />'ll and 10 lIIlY lowran<:e poheie>. aoo in and to the proceeds thereof resulting lrom damage to Ihe Property priol 10 lhe ..Ie
<br />or lICqUisilion shall pass to Lender to lbe e"'lent 01 the sums secured by Ihis Deed of Trust imme<!iOlely prior to .uch sale or
<br />acqWs.itiOll.
<br />6. ~ IIIId MMIlc-.: of Property: Lu.ebolds; CuR40minlums; P1auaed Unit DenlopmeDls, Borrower
<br />_\thaU keep the ProP:'=rt)' in good re_paiif ;dnd s.haH not cnlunHt Was.te ,-)r pcrmll imp.i.urmcnt i.)f 4.Jetefiorati~)O of the Property
<br />and shall comply WIth the pro"i.;o"" 01 any lea.., if thIS Dew of Trust IS nn a lea,ehold. if thi, Deed of Trust is on a unit in.
<br />condominium or a. planned unit de>,'e.lopment, Borrowel ,hall peeorm all 01 Borrower's obligations under the declaration
<br />or co_. crealtf\B or lIOYeming lhe condominium or planned unit development, the by-laws and regulalions of Ihe
<br />condominium or pl.anned unil development, and constiluelll documents. If a condominium or planned unil development
<br />rider i. executed by 8ol'fower and ",curded together with this Deed of Trust, the covenants and agreemenls of such rider
<br />sbaJl be tncorporated inlll and shall amend and supplemem lbe c""e""nr. and agreement> of Ihis Deed of Trust as if Ihe rider
<br />were a pan hereof.
<br />7, I'tIIcecdoa of ~a Security. II Borrower fails to perlorm lhe covenants and agreemenl. contamed in Ihi,
<br />Octcd of Trust. or if MY action or prooeeding i. commenced which materially alfecl. Lender's interest in Ihe Property,
<br />i~ but not limited to, eminent domain, ins<>ivell(;}, code enforcement, or arrangement. or proceedings involving a
<br />bankrupt or doccdent. then Lender at Lenders option, upon nork" to Borrower, may make such appearances. dishu..e ,uch
<br />_ IInd take such action as i. neceuary te protect Lender', imerC$t. oncluding, but nol limiled 1<'. disbor",menl of
<br />~ M~'S. fea and entry upon tbe Property to make repai..... If Letlder required. mongage msuntnce ., a
<br />c~ of _1.!tI the loall ~ by lhil Deed of TI'II$i, Borrower sball pay lhe premiums requiled 10 mamla," ,uch
<br />,~ in clIllct lUltll su.;b tI~ ll!l tbe requirement for ,U(;h iOilurance lerminales in accordance with BOfl'owen a!ld
<br />~....'s wtitleI1.'. ....~ or appl~. law. Borrower shan pay the amount <>f all mortga~ in.urance prem!u"", in the
<br />,... ph2~f
<br />by under JlUrwant 10 Ihis paragraph 7, wirh Interest thereon, shall become addttw"ai
<br />c .. ... . ... . . Ji!IWfcd by lh!s Oee.d 01 Trull. Unle.. Borrower and Lender agree to Nher rerms of paymenl. sllch
<br />~.. be> pl.~ upon.1\Qtke fn:m> I..en<lcr to Borrower reqUll;\llna payment thereof. ...d shall heM interest frum lhe
<br />tliuct tl/'.~ at, IlMl'llw paya.blo ll(lm f~ tl> time on rnJtslanding principal under lhe Note unl.,.. payment of Intere.t
<br />\it tU<:h ,. WOOld he rontrary w ~icable law.. hI which evetit sllch .mriunt. shall hear interest .1 the highesl rale
<br />~ Illlde.r ~ble Ill..... Noi.liing contained in thi$ par..graph 7 .ball require Leode, io lncur any ".pense or lake
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<br />:t nEC:::l :: ~~Ut:' ~:y~:h1":~~~b~:':ci}~g"=:'~;~;:'r.~~b.,~~I~~ f~r:n l'::d~
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