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<br />83-0G5061
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<br />UNIYOltM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of PrIndpaI and lnt.rat. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by lhe 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 T fusL
<br />%. V..... for T_ aM 1_.. Subject to applicable law or to a written waiver by Lender, Borrower sball pay
<br />to Lender on the:: day.monthly installments of principal and interest are payable under the Note, until the Note is paid in fuU.
<br />a sum (herein "Punch") equal to oneMtwelflh 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 any. all as reasonably estimated initially and from
<br />time to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The: Funds shaH be held tn an instttution 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 lhe Funds to pay said taxeS,. assess.ments.
<br />insuran(:e 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 writjng at the time of execution of this
<br />Deed or Trust that interest on the Funds ~hall he paid to Borrower. and unles,.~ sllch agreement is made or applicable law
<br />requires such interest to be paid. Lender shall not he required to pay Borrower any interest or earnings on the Funds. Lender
<br />~hall 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 Funds was made. The Funds are pledged as additional security for the sums secured
<br />by ,his Deed of TrUll.
<br />1f Ihe amount of the Funds held by Lender. together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes. as.'i:essments.. insurance premiums and ground rents. shall exceed the amount required to pay said taxes.
<br />assessments, insurance premiums and ground rents as they fall due, such excess ~hall be. at Borrower's option, either
<br />prompdy repaid to Borrower or credited to Borrower on monthly Installments of Funds. If the amount of the Funds
<br />held by Lender shall not be sufficient to pav taxes. assessments. insurance premiums and ground rents as they fall due.
<br />Borrower shall pay to Lender any amount necessary 10 make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower request;ng payment thereof.
<br />Upon payment in full of all sums secured hy thiS Deed ()f TrU\L Lender shall promptly refund to Borrower any Funds
<br />held b~' Lender. If under pa.ragraph 18 hereof the Propen}' IS ...old or the Properly is otherwise acquired by Lender. Lender
<br />shall apply, no later than immediately prior [(1 the sale of the Property or its acquisition by Lender. any Funds held by
<br />Lender at the time of application as: a credit against the sums secured by this Deed of Trust.
<br />3. Applkilfion of Payments. Unless applrcable Jaw provlde5 otherWise. all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall be applied b~' Lender first l!l payment of amounts payahle to Lender by Borrower
<br />under paragraph 2 hereof. then 1.0 interes.t pavablc on the Note. !hen 10 the principal of the Note. and then to interest and
<br />principal on any Future: Advances., .
<br />4. ChaI'lU; Liens:. Borrower shaH pay ill! taxes. J~e\sment" ami olher charges. fines and impositions auributable to
<br />the Property which may altain a priority over rhl.'i Deed of TrusL and leasehold payments or ground rents. if any. in the
<br />manner provided under paragraph 2 hereof ()r. if nor paid in such manner. by Borrower maklOg payment. when due. directly
<br />to the payee (hereof. Borrower shall promptly furnish h) Lender all notlCc'S l'if amounts due under this paragraph. and in the
<br />event Borrower shaH make pa)'mcllI directly. Borrower shall promplly furnish to l.ender receipts evideO(.~jng such payments.
<br />Borrower shaU promp11r discharge any lien whIch ha$ pnority over this Deed or '[rust; prOVided. that Borrower shall not he
<br />required to discharge any s.uch lien ~l long a:-. Borrower ..hall agree in wriling to the payment of the obligation s.ecured by
<br />'tuch lien in a manner acceptable to Lender. or 'Shall Hl good faith l:Onte5t \i1U..:h lien by. ,)r defend enforcement of such lien in.
<br />h:gal proceedings. which operate to prevent the cnlorccmcnt of the !ten or forfeilllre of the Property or any part thereof.
<br />s. Hazard Insvraau~ Borr-ower ~hall keep the Improvement\ now c.\.I!\tlng or hereaflcr erected on the Property insured
<br />against loss by fire. hazards included within the i.erm .'c'\tcnded covera~c", ami "iuch other hazards as Lender may reqUIre
<br />and in such amounts and tor such pcrlod~ as l.ender may reqUIre: proVIded, that Lenuer ~haH not reqUIre that (he amount of
<br />such coverage exceed that amount of coverage reqUIred to pay the sums ~\.:urcd by thiS Deed of Trust.
<br />The insurance carrier providing the insurance "hall be ch(\<;en by Horrower slIb)c-Ct t(> approval by l.ender: provldeJ.
<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 Of. If not paid 1ft such manner. by Borrower makin-g payment. when due. directly 10 the
<br />insurance carrier.
<br />All Insurance: poJICieS and renewals Ihereol ,;hall be In form a>.-'f.:cptable In Lender and sh..tll indude a standard mongagc
<br />clause in favor of and in form acceptable W Lenuer. I coder ~hail hJ.vc the right to hold the policies .and renewals thereof.
<br />and Borrower shall promplly furnish to Lender .:all ft:rH:~al H\)tKe.. ;t1uJ all rcct':ipt!i;. llf paaJ premium..... In the event of lo\l'I,
<br />Borro~er shall give prompt notu:e to lhe lfl:.unUKt' ~arne' and 1 codc,. Lender may ma.ke proof of Inss If not made promptly
<br />bv Borrower,
<br />. Un~~ Lender and Borwwer 1.11hcrWlSC iigr~'t in .... ritlng. In~Urancc pro-.::ecds 'ihall be applied In restoration or repair of
<br />the Property damaged. prQvi\ied such n."slOritll\)O or rcpatl. " c..:ononucally feasible and the st..'t:urIIY of thl" Deed of Trust I"
<br />not thereby imp_nred, If $uch restor..tlOO or repair ,.. not ('(l)flt1mu:ally feaSible or If the ~ecunty of thi.. Deed of TW'it would
<br />be lmpaired. tilt' losunnce prOl.:ceds ~haH be applleJ 10 the sum\ secured hy lht~ Deed of Trust. WIth the excc~s. if any, pallJ
<br />to Borrower. If the Pn."lpcrty i~ abandoned by 8lHf\)'Wer. \)r If }iorro'f'l;cr f.lIb tu rC'!lpund to Lender withm 30 days from the
<br />date notice i~ mailed by Lendet to Borro,^,er that the Insurance ~af'f1f.:r offers tv seule a d;um for in~lIrancc benefits. Lender
<br />i\ authorized to collect and apply the insurance pff.x.:eeu'!) al Lcnd~(s oplion either lO reslorarlon or repair or the Propert,
<br />or to 1M sum'\; secured by thiS Deed of Trus.t.
<br />Unless Lc-nder and Bo'!ower orherwise agree m vt'fit~ng. >Jny su;.::h application of proceeds to princii,al shall not extend
<br />Of ~Ipone the due date 01 the monthly lIhtallmenb. retCHed 10 111 paragraphs I and 2, hereof Of change the amount of
<br />~uch mstallments. If under .p~ragraph is berc(l1 the Properly J:'\, acqUired by l.ender. :tll nghl. mle and interes,t of Borrower
<br />m and to any insuraoce pohcles and 10 and lO the pf(}c;eed~ thereof re~ultll1g from damage to the Property pnor to lhe sale
<br />01' ac.quisi(ion shaH pass to Lender to the extent 01 the sun1S 5eJ.;ured by this Deed ot Trust immediately prior to such sale or
<br />a.c.quwtton.
<br />6. P.....-adoa aDd M8iatenance of Properly; l..easeholds. Condominiums; Planned Unit Developments. Borrower
<br />~all keep the Property 10 go\)d rep,uf and shall nol \.:ommH .....astc- (.Ir rem!!l Imp:'lirnlt:nl {)r JClerioration ~)f the Property
<br />and lhall comply with (he prOVisions of any Jea1ioC if thiS Deed of Trust jj on a leasehold, If this Deed of Trust is on a unit in a
<br />condominium or a planned unit developmll:ot, Borrower sMll petform all of Borrower's ohligations. under the declaratilm
<br />or cQvenanlS creating or governing the condominium 1,')[ plann<<1 UOIt development. the by.b.lWS and regulations. of the
<br />c~inium or planned unt<< devt!-opmcnt. and -constituent documents. If a condominium or planned unit development
<br />rider IS executed by Borrower and recorded together with thi~ Deed of Trus(, lhe covenants and agreements of .-iJuch nder
<br />malJ be Incorporated into and shall amend and suppiement the I.:ovcnant~ and agreements of thiS Deed of Tru!I-l a~ If the nder
<br />were a pan hereof,
<br />7. Protedioa -of Leader'. Security. If Borrower fails to perform (he covenants and agreements contained in this
<br />Deed of Trust, or if any actton or proceedmg is. l;:ommen\::ed which matenaHy affects Lender's interest in Ihe Property,
<br />including.. but not limited to. eminent domain. in~tvenc;. ...':Ode enforcement. Of arrangemenlS or proceedings. involving :1
<br />bankrupt or decedent, then lender at Lender's ophon. upon nOln:e, to Borro"'rer. may make such appearam.:es.. di!Jbur~e such
<br />wm& and take such :ilcttOn as IS n<<:euary to protect lender's mteresl, mcluding. bur not limited to. dlsbur'!loernent of
<br />~~We auorn;er's fee:5 and entry upon .the Property to make repairs. If l,em.ler required mortgage jn~Ulan\:e a\- il
<br />-condition of m.a.kU1& the- loan $ecured by tbls Deed of Trus-I, Bon.ower shall pay the premiums required t;.l m:untam ~uch
<br />f1l$Utancc in: effu..'t until sU(,;h time as the r~UifCmenl for s.Ui,;h IOMmmce lerminale~ in ili.'"Cordance with 8orn)wer\ a.nd
<br />~'Ii wntten ag.rc:emest or applicable law, Burrower shaH pay the <:tmol.lOl of all mortgage ins.uranLc premiums in the
<br />__ provided under paraaraph 2 hereof.
<br />^=:nlS dil-buncd !:tV l.ender pllf$Uan1 to thIS paragraph 7, with mttrest lm:rcon, shall he<omc additional
<br />~ndebt of Borrow-cr _u-red by lhi$ Deed of TnJSL Unltt.\ Borrow-a and LtlHdcr a.glte to other te-rms of payment. slIch
<br />amounu thall be payaWe upon noli" from Lender to 8(lrrower requn:tmg payment lhett:of. and -shaJl hear mtcrcst (tom the
<br />.. of ~t at lbe rate payable from drne 10 lime on outstanding principal un~r the Note unless payment of interesl
<br />.. ~. r. would -be, contrary to a~i(..ble Jaw. in WhKh event such amountli-, shaU hear int~rest at the highest rate
<br />-pet~We under .ppI~ law. N(.)1h-joJ ~ootaUled iI'! Ihl5 para8-faph 7 shali reqUJfC Lender to incur any <<pense or rake
<br />...y ""-~.
<br />.. ~,Le.m:iu .may make Of '-1lt.lSt to be m~ reasooA.We tnu~ upon and irn.p:-ctton-'i ot the PrQpot:rty. pr...lvJded
<br />tb.t Lender. JJ\alt 1"''4 Iotrf)'WCf flOtf(:e: prwt' lO Any -'-UGh m5~hon spc('-tfytnl- re.~mal-Je came therefor rd4ited \(l L('ndcr\
<br />,_ '" lbe PI",,*,V.
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