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r UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 63.- () 0 4 3 87 1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest on any Future Advances secured by this Deed of Trust. 2. Funds for Taxe&.ud Insurance. Subject to applicable law or to a written waiver by Lender, Borrower sball pay 10 Lender on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full, a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this Deed of Trust, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance. plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by Lender on the basis of assessments and bills and reasonable estimates thereof. The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed hy a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments. insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account or verifying and compiling said assessments and bills. unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge, Borrower and Lender may agree in writing at the time of execution of this Deed of Trust that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law requires such interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge. an, annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Deed of Trust. If the amount of Ihe Funds held by Lender. together with the future monthly installments of Funds payable prior to the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes, assessments. insurance premiums and ground rents as they fall due, .such excess shall be. at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments. insurance premiums and ground rents as they fall due. Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed by Lender to Borrower requesting payment thereof. Upon payment in full of all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph 18 hereof the Property is sold or the Property IS otherwise acquired by Lender, Lender shall apply. no later than immediately prior to the sale of the Property or its acquisition by Lender. any Funds held by Lender at the time of application as a credit against the sums secured by this Deed of Trust. 3. Application of Paymenls. Unless applicable law provides otherwise. all payments received by Lender under the Note and paragraphs I and 2 hereof shall be applied by Lender first in payment of amounts payable 10 Lender hy Borrower under paragraph 2 hereof, then to interest payable on the Note. then to the prinCIpal of the Note, and then to interest and principal on any Future Advances, 4. Charges; Liens. Borrower shall pay all taxe". asses.sm.entli. and other charges. fines and impositions attributable 10 the Property which may attain a priority over Ihis Deed of Trust. and Iea.ehold payments or ground rents. if any, in the manner provided under paragraph 2 hereof or. if not paid in such manner, by Borrower making payment. when due. directly to the payee thereoL Borrower shall promptly furnish to Lender all nOlices of amounts due under this paragraph. and in the event Borrower shall make payment directly. Borrower shall promptly furnIsh to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has pnority over thIS Deed of Trust: prOVIded. that Borrower shall not be required to discharge any such lien so long as Borrower sball agree in writing 10 the payment of the obligation securcd by such lien in a manner acceptable to Lender. or shall in goed faith contest such hen by. or defend enforcement of such hen in. legal proceedings which operate to prevent the enforeement of the lien or forfeiture of the Property or any part thereof. S. Hazard Insurance. Borrower shall keep the Improvements now e"stmg or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended (Overage", and such other hazards as Lender may reqlllre and in such amounts and for such periods as Lender may reqUIre: proVIded. that Lender shall not require that the amount ot such coverage exceed that amount of coverage reqlllred to pa\' the sums secured by thIS Deed of Trust The insurance carrier providing the insurance shall be "hosen by Borrov.-er sub_icel to approval hy Lender: pnlVlded. that such approval shall not be unreasonably withheld. All premiums on insurance policies shail he paid in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment. when due. directly to the insurance carrier. All insurance pohcies and renewals thereof shall be in form acceptable ((, Lender and shall mdude a standard mortgage clause in favor of and in form acceptable to Lender. Lender shall have the nght to hold the policies and renewals thereof. and Borrower shall promptly furnish to Lender all renewal notices and all rCl.:'cipts of pald premIUms. In the event of loss, Borrower shall give prompt notice to the insurance carrier ami Lender. Lender may make proof of loss If nol made promplly bv Borrower. # Unless Lender and Borrower otherwise agree in \\ ritmg. Insurance proceeds shall be applied to re~toration or repair of the Property damaged. provided such restoration or repau is e~onomll.:ally feasible ;,md the security of thiS Deed of Trust I~ not thereby impaired. If such restoration or repair is not econt,)mkally feaSible or if the security of this Deed of Trust would be impaired, the insurance proceeds shall be applied to the sums secured by Ihis Deed of Trust, with the excess. if any, paid to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender withm 30 days from the date notice is mailed by Lender to Borrower that the Insurance carrier ,,-,tIers {O settle a daim for inslIram:e benefits, Lender is authorized to collect and apply the insurance proceeds at I.ender's option eIther to restorallon or repair of the Property or to the sums secured by this Deed of Trust. Unless Lender and Borrower otherwise agree 10 writing. any such appllcalion 01 proceeds to principal shall not extend or postpone the due date of the monthly installments referrc-d to in paragraphs I and 2 hereof or change the amount of such installments. If under paragraph I ~ hereof the Property" aCl.juired by Lender, all right, title and interest of Borrower in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale or acquisition shall pass to Lender to the extent of the sums "",ured by this Deed of Trust immediately pnor to such sale or acquisition. 6. Presenation sad MaIotenance of Properly: Le_lwlds: Condominiums; Planned Unit Developments. Borrower '\hall keep the Property in good. repair and shall nut Clmlnllt \\aSIC t..lr permit impairment t,)f Jt.:h:rit.)rafion t.)f the Property and shall comply with the provisions of any lease if Ihis need l'f Trust is on a leasehold. If this Deed of Trust is on a unit in a condominium or a planned unit development. Borrower shall petforO! all of Borrower's obligalions under the declaration or covenants creating or governing the condominium or planned unit development. the hy-Iaws and. regulations of the condominium or planned uoil development, and conslituent documents. If a condominium or planned unit development rider is executed by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Deed 01 Tn"t as If tbe nder were a part hereof. 7. Protection qf Lender's Securily. If Borrower fails to perform the covenants and agreements contained in this Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Property. including. but not limited to, eminent domain. insQlvency. code enforcement. or arrangements or proceedings involving ~l bankrupt or decedent, then Lender at Leeder's option. upon notice to Borrower, lIlay make such appearances. disburse sl!l'h sums and take such action as is necessary to protect Lender's interest, induding, hut not limited to. dishuf~cment l,J reasonable attorney's fees and entry upon the Properly to make repairs. If I.,ender rel.juired lIlortgage insurance as a condition of making the loan secured by this Deed of Trust, Borrower shall pay the premiums rel.juired to maintain such insurance in effect until such time as the requirement for such insurance termina~es in accordance with Borrower's and Lender's written agreement or applicable law. Borrower shall pay the alllount of all mortgage insurance premiums ill the manner provided under paragraph 2 hereof. Any amounts disbursed by Lender pursuant to this paragraph 7. with interest thercon. shall hecome additIonal indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other t~rms "I' payment. .such amounts shall he payable upon notice from Lender to Borrower requesting payment thereof. and shall hear interest fwO! Ihe date of disbursement altbe rate payable from lime to time Oil oUlstanding principal under the Nt,te unless payment of interest al such rale would be contrary to applicable law, in whieh event such amounls shall hear interest at the highest rate permili$ible under applicable law. Nothing cOlllained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder. I, IlItIpeCtion, Lender may make or cause to be made reasonable elltries upon and mspt,chons of the Property, provided that Lender shan give Borrower notice prior to any such inspection specifying reasonable cause therefor related 10 Lender's interest in the ProtlOrty.