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<br />UNIFoaM COVENANTS. Borrower and Lender covenant and agree as follows: J U 03 2
<br />.1. hymeat of PrIadpaJ .... I.....rest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedn... evidenced by the Note. prepayment and late charges as provided in the Note. and the principal of and interest
<br />on any Future Advam;es secured by this Deed of Trust.
<br />2. ........ lorT_ "'"' I-..n<<. Subject to applicable law or to a written waiver by Lender, Borrower sball pay
<br />to Lender on the day monthly imtallments 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 installment. for monege insurance. if any, all as reasonably estimated initially and from
<br />time to time by Lender on the basis of ......ments and bills and reasonable 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 Funds to pay said taxes. assessments,
<br />insuratKe 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. unles.. Lender pays Borrower interest on the Funds and applicable law
<br />permits I..ender to make such a charge. Borrower and Lender may agree in writing at the time of executio!l Qf this
<br />Deed of Trust that interest on the Funds shall be patd to BOrrower. and unless such agreement is made or--applicable Jaw
<br />requires lluch interest to be paid. Lender shall not be required to pay Borrower .my interest or earninsss on the Funds. Lender
<br />shaH 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 the Fund. was made, The Funds are pledged as additional security for the sums secured
<br />by Ihis Deed of Tmst.
<br />If lhe amount of the Funds held by Lender. logether with the future monthly installments of Funds payable prior to
<br />the due dales of taxes, a'Uesamenf~, insurance premiums and ground rents, shaH exceed the amount required to pay said taxes.
<br />asses,sment$. insurance premiums and ground rents as they fall duc, such excess sh~n he, at Borrower's option. either
<br />promptly repilid to Borrower or credited to Borrowe,r on monthly installments of Funds. If the amount of the Funds.
<br />held by Lender shall not be sufficient 10 pay taxe~. as.4ie~sments, insurance premiums. and ground rents as they fall due.
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is nlailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in fun of all sums "ccll-Ted bv this Deed ()f Trust. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph J 8 hereof the Property is sold or the Property is. otherwise acquired by Lender. Lender
<br />shaH apply, no tater than immediately prior to the sale of the Property 0:- hs acquisition by Lender, any Funds held by
<br />Lendt.r at the time of application as a credit against the sums secured by this Deed of Trust.
<br />3. Applkllfion of ....yme:nfs. Unless applicable law provides otherwise. all payments received by lender under the
<br />Note and paragraphs l and 2 hcrr:of shall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph i hereof, then to interest payable on the Note. then to the principal of the Note, and- fhen to interest and
<br />principal on any Future Advances.
<br />4. Cbarga; LiellS. Borrower ,c;.haJl pay alt fa.xes. assessments <lnd l~rher charges, fines and impositions 3nribmable to
<br />the Property which may attain a Prlority over thjs- Deed of Trust'. and leasehold payments or ground rents, if any, in the
<br />manner provided under paragraph 2 her~of Of, if not paki in such manner. by Borrower making payment. when due. directly
<br />to the payee thereof. Borrower shaU promptJy furnish to Lender all notices.. of amounts due under this paragr'dph. .and in the
<br />event Borrower shall make payment directly, Borrower shaH promptiy furnIsh to lender receipts- evidencing such payments.
<br />Borrower sball promptly discharge any lien which has priority over thl's Deed of Trust: provided. that Borrower shall not be
<br />required to discharge any such lien ro long as Borrower shalt agree in writing to the: payment of the obligation secured by
<br />such lien 10 a manner acceptable to Lender. or !ih.nH in good f.uth conte-s-t such llen by. or defend enforcemenl of such lien in.
<br />legal f.roceedings which operate to prevent the enfo~cement of the lien or forfeiture 01 the Property or any part thereof.
<br />~ Hazard Ill5UI"1I!Iee. Borrower shaH }',e-ep the ImprO-vements now e,xlsting or hereafter erected 00 the Property insured
<br />against loss- by tire. hazartb included within t.he term "extended clwerage!', and ~uch other hazards as Lender may require
<br />and in such amounts- and lor such penod.s lit} Lender may require; provided, that unuer shall not require that the amount of
<br />'ue-h coverage exceed that amount of coverage r-eq\ilred to pay the sums secured by thjs De-~d of Trust.
<br />The- insurance carrier providing the insurance shaH be Chillie-~ by Horr.ower subject. 10 approv.ll by Lender: provided.
<br />that such approval sballllOt he unrea,,?nably withheld, Ail premiums on 1llSurnnc-e. policies shall be paid in the manner
<br />provided undu paraarapb 2 hereof or, If not paid in such manner. by Borrower making payment. when due, directly to the
<br />insurance carrier.
<br />An insunmce pohc-ie$ itnd renewal" thereof shaU be in form ao.::ceptablc: to Lender and sha.H mclude a standard mortgage
<br />clause in fa\lor of and in form acceptahle to L(lodef. Lender $hnH ha...'c: the flght to hold the policies .and renewals thereof.
<br />aoo lJorrower shall promptly furni$h to Lender ~tH renc:wal notices anti ali rectlpl-s of paid premiums, In the event of Joss.
<br />Borrower shall give prompt notice to the insunm..-:e carrier and Lender, Lender may make proof of 10"" if not made promptly
<br />by llorrower.
<br />Unles..'i Lender and Borrower ()otherwise agree in writIng, Insurance proceeds shaH be applied to restoration or repair of
<br />the- Property dama~, provided such re.~(Onltl-O-H '.)1' tCpa:f IS ct:"fi'Jmi..:-ally tci:t!!\iblc find the 5e-t.:urity of this Deed of Trust IS
<br />oot. thereby impaired. It su(:h restoration or rep~lr IS not e<;ofloffih.:ally feaSIble Of if the .s.ecurity of this.- Deed of Trust would
<br />be Impaired. the insuflmce proc-e-eds shaH be applied to the sum~ secured by this Deed of Trust. With the eXc~s. If any, paid
<br />to-Borrower. If!he Property is. abandoned by 8orrowc:r. Of if fJ()ffo......er fails to re!.pond to Lender within 30 days from the
<br />dale notK:e is mailed bv Lender to Borruw~r that (he HlSUfltnCe I.::arner offer:i to ~eule os claim for insurance benefits. Lender
<br />l'S authoriud to coIlect~ and apply the iO$unmce proceeds ;11 Lender's option either to restoration or repair of the Propeny
<br />or to the roms secured by this Deed of Tn>sl.
<br />Unless Lender and Borrower otherwise agree In writing. uny such application of proceeds to principal shaH not extend
<br />O[ ~tpone the- due date of the monthl)' Installments rt"lcrred to In _paragraphs I and 2 hereof or change the amount of
<br />sUGh installments. If under paragraph IS heret)! the !).roperty is aCi.lUlred by Lender, all right, title and imeres.t of Borrower
<br />in and to aD)' insurance poHclQ and in and 10. the proceeds thereof resulting from damage to the Property pnor to the sale
<br />or acquisition shaH pa.u to Lender to the e.~lent 01 lhe sums .se..:ured by [hi~ Deed of Trusl immediately prior to such sale or
<br />acquisition,
<br />6. "'-o-aIloa aa4 MIlIa"".....,. of Property; Le...holds; Condominiums; Planned Unil Develop_uls. Borrower
<br />.,.hatl k.eep the Pn-.perty in good rep.au and shail not commH "'_a-ste or pernllf imp-.,Urment or deterioration of the Property
<br />and shaH comply with the provisions of any tease if tbiS. Q.eed \.If Trust is on a leasehold. If this Deed of Trust is on a unit in :\
<br />condominium or a planned unit de.\!'ciopment. Borrower shaH periofm all of Born.)wer's obligations under the declaration
<br />or ~~.,anb creating -l...)f gcverni."l8- the condominium or planned unit development, the by-laws and regulalions of the
<br />c~m Of' planned umt de\'clopmcnt. and constituent. docurncnls_ If a condominium or planned unit development
<br />rider is executed by Borrower and re.:orded together with thiS Deed of Trust, the COVeo&nts and agreements of ~uch rider
<br />shaU be Incorporated into and shaH ~mend and supplement the co\'enanb and agreements of this Deed 01 Tru~t a~ if the fider
<br />.....re a part bereQi.
<br />,~ Pmtedioa of I..eatierll Sec--urity. t.( Borrower fails to perform the covenants and agreements contained in this
<br />~ of Trm.t~ Of if ~y action or proceeding is -commenced which materially affects Lender's interest in the Property.
<br />l~ ~ not limited _ to, cnnncnt domain, insolvency. code enforcement, or arraugements or proceedings- InvoJvlng .1
<br />bankrupt or deccderit. then Len.du at Lender's optioIl, upon notice- to Borrower~ may make soch appearances. dishurse such
<br />Illm;i and t>>.ke- such action as is necc:::$Ul)' tu protect Lender's inter~t. !ndurling. but not limited to, disbur$Cment of
<br />~~ a.Uorncy'.s fCC$ and entry upon the Property 10 make repairs. If Lentler required mortgage insurahce as il
<br />~. of llIl\ki.1'Il the loan ~by. Ihis J)eedoI 1'rWol. Borrower .ball pay Ihe premiums required 10 maintaIn s,J<h
<br />i~ in_ dfect_ until $UCb ~ -. the: -requirement -for such il1surance [erminllte~ in accordance with Borrower's ;,md
<br />~". wriU#n~'~ or applicable- law. 8orrQw~r shall pay the amount of aJi mortgage, insurance premiums in the
<br />~. l;'lOvldccl. \JIlder P'lrapph '2 llereoL
<br />.. AAy __ dkbiuM:d by l.ender pun....nl to thi. paujlraph 7, wilh mlere't thereon, ,hall hecome additional
<br />indetlledr_ of Dor:rower lIeCurod by this Deed of TfU6t. Unleos Borrower and Lender agree to other lerms of paymenl. ,,,,,h
<br />~ ~ he JlIIyllb!e upon noIk:# from Lender to Borruwer ''''l....tilljl P'lyrnent the",or. and .hall bear interest fmm Ihe
<br />_,,(~~ at tbe.,..te pily,"*ItOllllime lu time On ",,"tanding principal ul.der theNDle ""leu payment of inlere.t
<br />at: 1Ildl, ~ woold be rotttrJU)' 10 _pp1icable I...... in which event .u,b .mount> ,han bear interest at the highe.st rale
<br />perno . bl.l.w, NOlhinl1 ",..llIilled in Ih,. pIIfDiT'ph 1 ,ball require Lender to i""ur auy expense or tale
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<br />may ~ Qr,'AUif: to be made rc:MOnabk c-ntnet- UP'll" and in~pec-tiotls of the: Pr-Q-p(fty, pnY"-J~,I(.~J
<br />1Jorr0\lf<< u.QtK:C .Pf"iQf to any weh iN-pectkm ~pcdtrjnl r~nab'e .('Stlt$oe therefor a.tafed h,1 Lender's
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