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I 83_ 004573 '"' UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 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 Taxes.and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to 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 onc-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 prCmi1.1m installments for hazard insurance. plus one-twelfth of yeady premium installments for mortgage insurance, if any, all as reasonably estimated initiaUy and from time to time by Lender on the basis of assessments and bills and reasonable estir,late.:; thereof. The Funds shall be held in an institution the deposits or accounts of which are Insured or guaranteed by 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 intcrest or earnings on the Funds. Lender shall give to Borrower, without charge. an aDnllal 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 the Funds held by Lender, lOgether 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 monrhly 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 hy 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 Payments. Unless applicable law provides othef\vlse. all payments received by lender under the Note and paragraphs. 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by 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 taxes. assessments and other charges. fines and irnposilions attributable 10 the Property which may attain a priority over !his Deed of Trust. and leasehold payments or ground rents, if any, in the manner provided under paragraph 2 hereof or, jf not paid in such manner. by Borrower making payment, when due. directly to the payee thereof. Borrower shaH promptly furnish to Lender all notices of amounts due under this paragraph, ~lnd 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 priority over this Deed of Trust: prOVided. that Born.1\,,'cr shall not be required to discharge any such lien so long as Borrower shaH agree in writing to the payment of the obligation secured by such lien in a manner acceptable to Lender, or shall in good faith conI est such lien by, Dr defend enforcement of sllch hcn in. legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thcreof. 5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by tire, hazards included within the term "extended covcragc", and such other hazards as Lcndcr may require and in such amounts and for such periods as Lender may require~ provided, that Lender shall not require that the amount of such coverage exceed that amount of coverage required to pay the sums secured by this Deed of Trust. The insurance carrier providing the insurance shall be chosen hy Borrower subject to approv~d by Lender: provided. that such approval shall not be unreasonably withheld. All premiums on insurance policies shall 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 policies and renewals thereof shall be in form acceptable to Lender and shall include a standard morlgage clause in favor of and in form acceptable to Lender. Lender shall have the right to hoill the policies and renewals thereof. and Borrower shall promptly furnish to Lender all renewal notices and 3.lJ receipts of paiJ premiums. In the event of Joss, Borrower shall give prompt notice to the insurance Larrier and Lender. Lender may make proof of loss if not m~de promptly by Borrower. Unless lender and Borrower otherwise agree in writing. insurance proceeds shall be applied to restoration or repair of the ProperlY damaged, provided such restoration or repair is economically feasible and the security of this Deed of Trust j... not thereby impaired. If such restoration or repair is not enmomically feaSible llr if the ~ccllrity of this Deed of Trust would be impaired. the insurance proceeds shall be applied to {he sums secured by this Deed ()f Trust, with the excess. if any, paid to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond 10 Lender within 30 days from the date notice is mailed by Lender to Borrower that the insur.ancc carrier olTers to settle a claim for insurance benefits. Lender is authorized to collect and apply the insurance proceeds at lender's option either to restoration or repair of the Property or to the sums secured by this Deed of Trust. Unless Lender and Borrower otherwise agree in writing, :lOy such application of proceeds to principal shall not extend or postpone the due date of the monthly installments referred to in p..tragraphs I and 2 hereof or change the amount 01 ~uch installments. ]f under paragraph It{ hereof the Property is acquired by Lender, all right. title and interest of Borrower 10 and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the salc or acquisition shall pass to Lender to the extent of the sums secured by this Deed of Trust immediately prior to ~uch sale or acquisition. 6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower shall keep the Property in good repair and shall not comma waste or permit impairmcnt or dctcrioration of the Property 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 condominium or a planned unit development. Borrowcr shall perform all of Borrowers obligations under the declaration or covenants creating or governing the condominium or planned unil development, the by-I:\ws amI regulations of the condominium or planned unit development. and constituent 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 of Trust as if the rider were a part hereof. 7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this ~eed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Property. lOc1uding, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving <l bankrupt or decedent. then Lender at Lender's option, upon notice to Borrower, may make such appearances. disburse such sums and take such action as is necessary to protect Lender's interest, including. but not limited to. disbursement of reaso.o.able attorney's fees and entry upon the Property to. make repairs. If ~enJcr required mortgage insurance as a condition of making the loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain stich insu.ran~_ in effect until such ttme, as the requirement for such insurance terminates in accordance with Borrower's ;1l1d Lender's written agreeme~t or applicabl~ Jaw. Borrower shall pay the ,.I01ount of <iil mortgage insurance premiums in the manner provided under paragraph 2 hereof. Any amounts disbursed by Lender pursuant to this paragraph 7. with inferest thereon, shall become additional indebtedness of' Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the date-of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of interest at su7h. f;lte would be contrary to applicable law, in which event s1.lch amounts shall bear interesl <It the highest rate per~tss~ble.-uIl.ger applicable law. Nothing contained in this paragraph 7 shall require Lender to incur .lny expense or take any actlon hereunder. 8. Inspection. Lender may make or caus.e to be made reasonable entries upon and inspections of the Property. pr'. "ided ~hat Len.der shall, give Borrower notice prior to any such inspection specifying reasonable cause therefor related 10 Lender's IOterest In the Proncrtv.