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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />.1. Pay_ill of Prindpal and Interest. Borrower shall promptly pay when due the principal 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 />2. Fn.ds for TlIXes ad Insudllee. Subject to applicable law or to a written waiver by Lender, Borrower sball pay
<br />to Lender on the day mobthlyinstallments 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 ,ny, all as reasonably estimated initially and from
<br />time to time 'by Lender on the basis of aSsessments and bills and reasvnable 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 />state agency (including Lender if Lender is such an institution). Lender shall apply the Fund, 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 Trust that interest on the Funds shall be paid to Borrower, and unles.. 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 tbe 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 tbe 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 tbe Funds
<br />held by Lender shall not be sufficient to pay taxes. assessments, insurance premiums and ground rents as tbey fall due.
<br />Borrower shall pay to Lender any amouut necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment tbereof.
<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 immedtately prior to tbe sale of the Property or its acquisition by Lender. any Funds beld 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 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragrapb 2 hereof, tben 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; Liens. Borrower shall pay all taxes, assessments and other charges, fines and impositions auributable to
<br />the Property which may attain a priority over Ibis Deed of Trust. and leasehold payments or ground rents. if any, in the
<br />manner provided under paragraph 2 bereof or, if not paid in such manner, by Borrower making payment. when due. directly
<br />to the payee thereof. Borrower shall promptly furnish to l.ender all notices of amounts due under this paragraph. and in the
<br />event Borrower shall make payment 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 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 fa.th contcst such lien by. or defend enforcement of such lien in.
<br />legal proceedings whicb operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5. Hazard lasuruce. Borrower shall keep the improvements now existing or hereafter erected on tbe Property insured
<br />against loss by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br />and in such amounts and for sucb periods as Lender may require; provided. that Lender shall not require that the amount of
<br />.uch coverage exceed that amount of coverage required 10 pay the sums secured by this Deed of Tnlsl.
<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 all renewal notices and all rc'Ceipts of paid premiums. In the event of Joss.
<br />Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in wriling. msur.nee proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair is economICally feasible llnd the security of this Deed of Trust IS
<br />not thereby impaired. If such restoration or repair is nO! economically feasible or .f the securily of this Deed of Trust would
<br />be impaired, the insurance proceeds sball be applied to the sums secured by this Deed of Trust, with the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrower. or if Borrower fails 10 resfoond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier offers to sett . a claim for insurance benefits. Lender
<br />is authorized to collect and apply the insurance proceeds at I.ender's option either to resto~ation 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 I and 2 hereof or change the amount of
<br />such installments. If under paragraph III 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 to the Property prior to the sale
<br />or acquisition shall pass to Lender to the extent of the sums secured by this Deed of Trust immediately prior to such sale or
<br />acquisition.
<br />6. Presen..lIon and Mmtenanc:e of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property
<br />and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. If this Deed of Trust is on a unit in a
<br />condominium or a planned unit development, Borrower shall pet:form all of Borrower's obligations under the declaration
<br />or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the
<br />condominium or planned unit development, and constituent documents. If a condominium or planned unit development
<br />rider is executed by Borrower and recorded together with this Deed of Trust. the covenants and agreements of such rider
<br />shall be incorporated into and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider
<br />were a part hereof.
<br />7. ProledIon of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this
<br />Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in lhe Property,
<br />including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or procecdings involving a
<br />bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower. may make such appearances. disburse such
<br />sums and take such action as is necessary to protect Lender's interest, including. but not limited to, disbursement of
<br />reasonable allOf!ley's fees and entry upon tbe Property to make repairs. I f Lender required mortgage insurance as a
<br />coD,ditionof makin8tlte loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain such
<br />insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and
<br />L.eIl4er'. written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />man~r provided under.paragraph 2 hereof.
<br />Any. amqunJs disbl.u'sed by Lender pursuant to this. paragraph 7. with interest thereon. shall hecome additional
<br />indebtedtiesa of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment, sllch
<br />. amo\!l:ltSshaU be paya~1e upon notice from Lender to Borrower requesting payment thereof. and shall bear interest from the
<br />date o~ ~nt at t~ nte payable from time to time on outstanding principal under the Note unless payment of interest
<br />at such ra.tc would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br />pcr~b1e UDder applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any 3C. .
<br />S. Lender may make or cause to be made rea.sonable entnes upon and inspectJOns of the Property. provided
<br />thaI Le . ... .... live Borrower nolice prior to any such inspection specifying reasonahle cause therefor related to Lemler's
<br />inter. In the Prollertv.
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