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<br />UN1FORM COVENANTS. Borrower and Lender covenant and agree <is follows:
<br />1. Payment of Principal 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 01 Trust.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a wrillen 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 slim (herein "Funds") equal to onc-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Deed of Trusl, and ground renls on the Property, il any, plus one-twellth 01 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 Irom
<br />time to time by Lendc-f on the basis of assessments and bills and reasonable c~(imates thereof.
<br />Tbe Funds shall be held in an institution the deposits or accounts 0' 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 lor 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 10 make such a charge. Borrower and Lender may agree in writing at tbe time of execution of this
<br />Deed of Trust that interest on the Funds shall be paid to Buerower. 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 thc 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. a~essments. insurance premiums and ground rents, ",hall exceed the amount required to pay said taxes.
<br />assessmc-nts. insurance prcmiurns and ground rents us Ihey fall Jut:. such c~\:css shall be. at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower \111 monthly installment" \11 Funds. If the amount of the Funds
<br />held by Lender shall not be sutlicienl to P3Y tax~s. assessments, il1~urancc premium:.. and ground rents as. they fall duc.
<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 [uli of all sums securcd by this Deed 01 Trust. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof lh~ ProperlY j" sold (If the Pn.'pcrty is otherwise acquired by Lender. Lender
<br />shall apply, no later than immediately pnor to the sale of the Property or its :-li..:quisltion OJ' Lender. any Funds. held by
<br />Lender at the time of application as a credit against the slims sccl~rcd hy this _Deed of Trllst.
<br />3. Applit.~ation of Payments. Unles.s applicable la\\: prOVides nthcrwlsc. all paymcms received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall he applied by Lender fir"t in paym('nt nf amounts payable to Lender by Borrower
<br />under paragraph 2 hereof. then to interest payable on (he Nple, ihen to the rrll1cipal of the Note. ~H1d then to interest and
<br />principal on any Future Advances. _ .
<br />4. ChaJ1tcs: Liens. Borrower s.haJl pay all taxe". ~hSeSSm('nts and l'thel" charges, fines .mtl IInposlllons :lltributable to
<br />the Property which may attain a pnority over this Deed of Trust. and 1c3schoJd payments: or ground rents. if any, in the
<br />manner provided under paragraph 2. hercof or. if not paid in such mJnner, by Borrower making payment. when due, directly
<br />to the payee thereof. Borrower shail piomptly furnish h) LCl1(J~r all 1l0Ih:C\ l'f amounts due ll~lder t~is paragraph. and in the
<br />event Borrower shall make payment Jircctly. Borrower sh31l promptly fnrOlsh t(l I.cndcr receIpts cVldencmg stich payments.
<br />Borrower shall promptly dischar~e am' lien \I,-hich has pflorilY ll\'Cr thl" D~cd l'[ Trll"l~ pro\/!d-ed..that BOl".ft.',^:cr s.hall not be
<br />required !,O tli>:.chargc any such !ten s{) illng :\.;; BtJrf{~wcr "hall agree III wrItmg !<) th-.- pJymcnt ot the obbgalll.111 sccu~cd by
<br />such lien In a manner acceptable to l.ender, ('I( shallm good fanh contest ~lH.h IH:n bv, ~'r defend cn(l,1f\:cmcnt ~)f Slll'h hen in.
<br />legal proceedings which operate to prevent the LnflHcemcnt ~,r the lien or f~}ffeiHlrc t'( the Property or any pan thereof.
<br />S. Hazard Insurance. Borro,,,"cr shaill..cep the improvements no\\.- ~'\IS14n~ l'r hcrt.'aftrr erected em the Property insured
<br />against loss by fire, hazards included \'.ithin the t~fm "cxtcndcJ Lovcr~lg.c", ~Hld S.Udl L'lhcr hazards. as Lemler may require
<br />and in sllch amounts and for su~h pCflods as Lender m~IY rcqwrc: prnvlI..kd. that Lender shall nl'! rcqUln: that the amount of
<br />such cove-rage exceed that amnulll of CL1vt.'ragc requireu III P:.I,: the SUI)" ,,-.:curcd hy tlw.. Deed of Trust.
<br />The insurance carrier providing thc insuran,,'c shall he chosen by ih,rn.)\\,-l'f SUbP':d h.' approval hy l.ender: pllwided.
<br />that such approval shall not he unreasonahly withhcld All premiums 1..)0 insurance pt)!icil~S shall be paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in ~uch manner, by Borr,-",wcr making payment. \l,'hen due. directly to the
<br />insurance carrier.
<br />An insurance policies anJ rencv.-';)js Ihere..)1 shall bC' in tl'fm a.:C\:ptabl~ tl1 Lender and shail include a standard 1l11)rtgage
<br />dausc ill favor of and in form :t;:("epl~tbk to l.ender. Ll..'IH.icr ~h.dl have the right to h01d the p\")lkics and rencwais then:oL
<br />:.Jnd Borrower shall promptly furnish (;,) Ll.:'ndcr all renc\\al th.'tKe... anJ al! rc..'clph {If paio premIUms. In the Client of loss,
<br />Borrower shall give prompt notice 1\1 the UlsuranCt: ..:arner and Lender, Lcndl'"f m.1Y make prot'f of loss If rwt Inade ~)I"\Jmptly
<br />by Borrower.
<br />Unless Lender and Borrower otherWIse agrCt' in \\fitmg, msuralh.'e prn\.:et.:'ds ,hall be applieu lu rc~toration or h.:pair of
<br />the Property damaged, provided such rc<)t~lf~ttion \Jr n:p.Hr h c..:on\.-'111I\.';111)" feJ.sihle and the sc\..'urity of Ihi\ Deed nf Trust i~
<br />not thereby impaireJ. If slI\.'h restora!lon or n:pa1r i;; Ill\{ t.'\..'t)n<'mil.'alty iC;J'iI/:llt: ur If the ",cl:urity of Ihi'i Deed of.1 rust \\ould
<br />be Impaired, the ln~llratlCe pnxc\.:us shall be applied to th\: ~unh :"c\..'tHl..'d by Ihi" Deed i.lf Trust, \..lth the C\..,:t.'S'>. If any. paiJ
<br />10 Borrower. If the Prop~rty is abandoned hy 8nrr\lWi..~r, I)r if B,)f(\l\I,CI (;111... l\l IC"ll"llUJ t() l.t:fHJcr within 30 day... from the
<br />dale noti..:c is mailed bv Lender 10 BorrOWt.:l lhal the ltl~urancc (arl Ie! plkr... h) 'i.cl1ie ..1 eli.urn fnr llbllralh.:C bcncfih, Lender
<br />i'\ authorized to (:OIlCL:l and apply lhl~ insurant:t: pr01..'CeJs at Lender's opli'-lll I..'lther 10 n.'''ltlJ.dtlon llr rep~ur or the Propert~
<br />or to the sums ~ecu1"ed by this Deed of Trust.
<br />Unless Lender and Borrower othef\~'isc ~lgrc~ in wrltlllg, ~my \lll..'h ~lppIKall{m {If pn.)\,,'ccds to prinCipal shall not c\tenJ
<br />\lr postpone the due dale of (he monthly lIlslallrncnt~ referred Il) in p,lragf'~'phs I and 2 hereot lll' t.:hange the amount 01
<br />such installments, If under paragraph IS herl:ol the Propl'"rty is a"'::4U1(cd b} l.emkr, all right. title anu illtcrcs.t ot llOrrO\.ld.;r
<br />in and to any insurance p()licic~ :wd :n ~nd 10 the pn.)\.'('cJs thCIC1.lf rc~uhlOg from da111agc hl the Property pnor to the Silk
<br />or acquisition shall pass to Lender to the c:\lcnt \.)t the sums ~ct:urcd hy this DCt:J of Trust inuncdiatdy prior tl1 \uch sate or
<br />acquisition,
<br />6. Presen.atwn and Maintenance of Property. l.easeholds; Condominiums; Planned Unit Developments. Borrower
<br />shall keep the Pn,"'pcny III g\.."t(ld rcpalr ~iTHj shall not ....tHlllllil WaSIL' ~,r rl'fl111! imp~lilllh..'nl or dt:t~ri{)ralit'l1 of the Prl1pcrty
<br />~nd shall comply with the pro\isi;,,)ns. of any lease if Ihis Deed PI' Tru~t is lln a lc~l~choIJ, It this DccJ of Trust i::.. on a unit in a
<br />condominium or a planned unil dc\'ch.lpmcnl, Borhlwer shall ~X'dOfJll ali {11 BmTO\\-cf~ ~",hligatitHls lllHJcr the dcd~lralion
<br />or covenants creating or governing the condominium ~\f planneJ ui1Il dl,.'\clopment. the hy~laws ~uld rcgulall(\llS \'If the
<br />condominium or planned unit dcv('!opmcnt, and (.;onsfllucnt df\('Umi.'l1h. If a cOllo{lminium \,)r phullled unit d~\"l:h_lrmcnt
<br />rider is executed by Borrower and re:..:on..lcJ wgcthcr With lhl~ Deco l\f l"nl"t, the 1.:~)\'l..:n..lnts and agreements of ~lh:h riller
<br />shall he incorporated into and shnll amend and supplement the L:oven<.tnb ;lflJ :1grecll1ents of this Deed of Trust a" If the rider
<br />were a part hereof.
<br />7. Protection of Lender's Securit)'. If Borrl..}wa falls to perform the covenants and agreements ulntaincd in this.
<br />Deed of Trust. or if any action or proceeding is ~ommenced which matcnally alfects Lender's intcrc:st in the Pro pert! .
<br />including, but not limited to~ eminent domain. insolvency. ....ode cnforccmctH. ~lr :urangcmenlS Of prOl.:Cculngs in\"olvmg ;j
<br />bankrupt or decedent. then Lender at Lender's option, upon notice It) Botrnwt.:r, may make ~lh::h a ppCaf;.i IH..:C:-' , di:-..buf\C such
<br />sums and take such action as is ncc~sary to protect Lcnocr':i interest, in..:luding, hut not limited to. di)buf::-'CIHl.:l1t of
<br />reasonable attorney's fees and entry upon the Property to make fe-pairs It L.~nucr required mortgage insuralKl' ~I'" :l
<br />condition of making the loan secured hy this Deed t'f TnJ~t, Borrower sh~.d! pay the premiums required [0 Ill~tinLiin slll..:h
<br />insurance in effect until such timc as the requirement tl)r such in~uranlt.: h;rminatcs in ,1(\:onJan(:l' with llornmcr\ ~ll1d
<br />Lt;n~ers. written agreement or applicable law. Borrower shall pay the ;Jl1h.)Unt of all mortgage insurance prcfllillm~ III the
<br />manner provided under paragraph 2 hereof. . .
<br />Any amounts disbursed by Lender pursU'lOt to this paragraph 7. WIth mlerest thereon. shall he"wl1e addit;,'n.,1
<br />indebtedness of Borrower secured by tbis Deed of TrusL Unless Borrower and Lender agree to other terms of payment. su"h
<br />amounts shall he payable opon notice from Lender to al1rtower requesting payment thereof. and shall bear mterest from the
<br />aMe Qf d4bursement at the rate payable from time to time On outstandin;; principal under the Nelle lInless payment of inlere,t
<br />at such rate would be contrary to applicable law. in whICh event stich amollnts shall bear inlercst at the highest rate
<br />pe:rmiuible under applicable law. Norhing contained in this paragraph 7 shaH require Lender to incur any expense or take
<br />any action hereunder. .
<br />8. lupection-. Lender may male (.11" C~HISC to be. made rcasonahlc cntrle!i. upon .mJ inspe.ctiuos of the Propl..'fty, IHO\ idcu
<br />that tender shan give Borrower notice prior to any _ such inspcctlm\ specifying n~asonahll~ C~HJ'IC thcF.:-for rcJah.~d Ip I .t~lld~'I \
<br />illlerest in the Prooc:rtv.
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<br />83- 004504
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