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<br />83- 005077
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
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<br />.1. P.,.- of PrIndpaI .... 1."'...... Borrower shall promptly pay when due the principal of andinterest on the
<br />indebtedness eviden<:ed bythaNoIe, prepayment and late charges .. provided in the Note. and the principaJof an..d Int. erest.
<br />on any Future Advances secured by this Deed of TnlSl.
<br />%. ....... f... T_.... 1_. Subject to applicable law or to . written waiver by Lender; Borwwer;lbalfpay
<br />to Lender on tbe day montbly installments of principal and interest are payable under the Note,ilntiltbe NOIe'is'paidJn full; ,
<br />a sum (herein "Funds") equal to one.twelftb of the yearly taxes and assessments which may attain priority over this
<br />Deed of Trust, and ground renlS on the Property, if any, plus one-twelfth of yearly premium Installments for hazard insuran<:e.
<br />1'1115 one-twelfth of yeally preminm installments for mortgage insurance, if any. all as reasonably estimated initially and from
<br />time to time bv Lender on the basis of _ments and bills and reasonable estimales Ihereof.
<br />The Funds shall be held in an institulion the deposits or accounts of which are insured or guaranteed by. a. F<K.Jer'aI. oc
<br />slale agency (including Lender if Lender is such an institution). Lender sball applYlhe Funds 10 pay saidtaxes,assessII)eJllS;
<br />insurance premiu.... and ground rents. Lender may not charge for so holding and applyit1g the Fun<k<analyzingsaid'liccoun~
<br />or verifying and compiting said assessments and bills, unless Lender pays Borrower interest 00 the Funds.and.applicable law
<br />permits Lender to make such a charge.- Borrower and Lender may agree in writing _ at the- time 'of .exC<:ution___of this
<br />Deed of Tn"t tMt interest on the Funds shall be paid to Borrower. and unless sucb agreement is made or applicable law
<br />requires such interest (0 be paid~ Lender shall not be required to-pay Borrower_ any interest or earnings-on- the FuJ1ds. ,Lender
<br />shan 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 arc pledged as additional security for the sums secured
<br />hy this Deed of Trust.
<br />If tbe amount of the Funds beld by Lender. logether with tbe future monlhly installments of Funds payable prior to
<br />the due daleS of taxes. assessments. insut'3nce premiums sou ground rents, shall exceed the amount required to pay said taxes.
<br />a.sscsame-nts, insurance premiums and ground rcnts as they fall due. such exces$. shall be, at Borrower's option, either
<br />promptly repaid 10 Borrower or credited to Borrower on monthly installments of Funds. If. the amout1t of .thc Funds
<br />held by Lender shall not be suftic.ient to pay taxes. assessments, insurance premiums and ground rents ~s- they fall due~
<br />Borrower shaU pay to Lender any amount nc'ccs..'l.ary ro make up the deficiency within 30 days from the date _notice is mailed
<br />by Lender 10 Borrower requestiog payment thereof.
<br />Upon payment in full of all sums secured by this Deed of TnlSt. Lcnder shall promptly refund to Borrower any Funds
<br />held by Lender. It under paragraph 18 hereof the ProperlY IS sold or the Property is otherwise acquired by Lender, lender
<br />shall apply, no later than immediately pnor to the sale of the Property or Hs acquisition by Lender. any Funds held by
<br />Lender at the time of application as: a credit against the s.lIms secured by this Deed of Trust.
<br />3~ AppIkadon of -Payments. Unless applicable law provides otherwise, ail paymen[s received by Lender under the
<br />Note and paragraphs. 1 and 2 hereof shall be- applied by Lender first in payment o~ amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable 00 the Note, lhen to the prinCIpal of the Note, and then to interest and
<br />principal on any Future: Advances.
<br />4. CIaatgu; 1..ieDs. Borrower shall pay all taxe.... assessments and other charges. fines and impositions attributable to
<br />the Property which may attain a priority over this Deed of Trust. and leasehold payments or ground rents, if any. in the
<br />manner provided under paragraph 2 hereof or, if not paid in such manner. by Borrower making payment, when due, directly
<br />to tbe payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the
<br />event Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipt$: evidencing such payments.
<br />Borrower &haU promptly discha:Je any hen which has pnority over this Deed of Trust; prOVIded, that Borrower shall not be
<br />required to discharge any s.uch hen so loog as: Borrower shall agree in writing to the payment of the obligation secured by
<br />'l;uch lien In a manner acceptable tn Lender, or shall in good faith conlest such lien by, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any pan thereof.
<br />5. Hazard 11ISIJI'aDCr~ Borrower &haH keep the improvements now eXisting or hereafter erected on lhe Property insured
<br />against loss by fire, hazards included within (he lenn "e,-tended coverage". and such other hazards as Lender may require
<br />nnd in such amount. and tor such penods ItS Lender may reqUIre: provided, thai Lender shall not require that the amount of
<br />~lU(;h c-Ove:rage exceed that amount of coverage rC4uired 10 pay the sums sCl:ured by this Deed of Trust.
<br />The insurance carrier providing the insurance shall be dlO$en by Borrower :subject to approval by Lender: prOVIded.
<br />that such approval shall not be unreasonably wit~held. AU premiums on insurance policies shall be paid in the manner
<br />provided under paraaraph 2 hereof or, if not paid ltl ~uch manner, by Borrower making payment. when due. directly to the
<br />insurance carrier_
<br />AU insurance policies 3J)d renewals thereof ~haU be 10 form acceptable to Lender and !\haH Include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lcnder shaH have the right to hold the policies and renewals thereof,
<br />and Borrower s.h.U promptiy furnish to Lender all renew~l notjces and aU receipts of paid premiums. In the e-vent of loss.
<br />Borrower shall give prompt notice fa the immuncc: carner and Lender. Lender may make proof of loss jf not rnade promptly
<br />by Borrower.
<br />UnJess Lender and Borrow~r otherwise agree in w nung, msur allce proceeds shaH be applied lO restoration or repair of
<br />the Property damaged. provided sU\:h fe$toralion or rcp,a'f ,.., c:c(Joomically feas.ible ~nd the security of this Deed of Trust is
<br />not thereby impaired. If such ratorauon or repair is. not economicaUr feasibJe or if the security of this Deed of Trust would
<br />be impaired. the insurance proceeds shaH be applied 10 the sums ~ecured by this Deed of Trust, with the excess. if any, paid
<br />to Borrower. If the Propeny is abandoned by Born.,lwer, or it Borruwer fail.~ to r~pond to Lender within 30 days from the
<br />dale notice is mailed by Lender (0 Borrower thai {he insurance carner otfcrl!. to seitle a claim for irisuran<:e benefits. Lender
<br />is authociZitd to conect and apply the insurance proceoo$ al Le-nder's oplion either to restoration or repair of the Property
<br />or to the sums secured by thi, Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, .to}' ~uch application of proceeds to principal shall not extend
<br />Of postpone the due date of the monthly instaUmenh- referred to in paragraphs I and 2 hereof or change the amount of
<br />$uch installments, If under paragraph 18 hcn,.'of the Property i~ acquired by Lender, all right, title and interest of Borrower
<br />in and to any insuranee policies and in and 10 the proceeds Ihereof resuUing from damage to the Property prior to the sale
<br />or a~~!&itjon shall pass 10 Lender to the extent of the sums secured by this Deed of Trust immedialely prior to s.uch sale or
<br />acquwu~.
<br />6. Prelenatloa aDd Maiatenaoce of Properly; Lo_IwIds; Condominiums: Planned Unit Developmeuts. Borrower
<br />shall keep the Propeny in good repair and lihaH not commJt waste. or pern111 impairment or dClcrioralion of the Property
<br />and shaU compl-y with the provistons of aoy lease if this Deed of Trust is on a leasehold. If this Deed of Trust i:;; on a unit in a
<br />condominium or a planned unit dc"elopmeol, Borrower shall peaorm aU of Borrower's obligations under the declaration
<br />or covenants creating or governing the condominium or phmned unit development. the by-laws and regulations of the
<br />COBdoQliniwn or planned unit deveiopment) and COfliutuenl dOCu.menb. if.a c-lmdominium or planned unit development
<br />rider is executed by Borrower and r<<orded together with this Deed of Trust, the covenants and agreements of such rider
<br />sball be incorporated into and Schall amend and supplement the c-ov-enants and agreements of this Deed of Trust 3S if the rider
<br />were a pari hereof.
<br />1. Protectiea of .Leoda"s Security. If 8orrower (ails. to pedorm the covenants and agreements conta~ncd in this
<br />Deed of Trust..- or if any action .or proceeding is commenced which materially affects Lender's interest in th~ Property.
<br />indudin... but nQt Jimi1ed to. eminent domain, imolvcncy. cvde enforcement, or arrangements or proc:ccdings Hlvotviog a.
<br />bank_rupt or decodent. then Lender at Lender's Qption~ upon notice it) Borrower. may make such appearam:es., disburse.': 'li-uch
<br />Ium& and take such action as is- neceuary to protect Lender\' inlere.lil. including, hut not limited to, dlshursement of
<br />f'tIaIOUbJe- attome)"$ f-ees and entry upon the Propenv to make repairs. If Lender r~uired mortgage in~uHtI1ce <l~ a
<br /><:<lIlditiol1ofmaltio& the loan sectIfed by this Deed of frQSl, Borrower sMII p.y ,be premiums required to mainlalfl such
<br />1~ in dfeI;t_ unlil such U__ "M_ the requirement fOf _such i.nsur.H1cc, termina(~ in af..'Cordance with Borrower's and
<br />~".W:rit1cn.~ or applicable-Iaw, Bo-JT('twer shall pay the amoum of all mortgage insurance premiums in the
<br />_ providcduoder paraaraph 2 hereof.
<br />. Ally -.nIT> diobuned by Lender pursuanl 10 ,his para&r#pb 7. wi,h interes' 'hereon. shan !>ccome addition.1
<br />i~_ of.Bon-01ler secured by this I)ea,d_ of TNlL Unless Borrower and Lender agree to other terms 01' payment. slt~h
<br />_II .ball.... pay.bleupotl~ lrom Lender to Borrower r""'....'ing paymenl thereof. alld .hall bear interest fmm the
<br />dale of ~lIlt"""""p,,y.bkl front time to Ii"", on <>ntslanding principal under.he No.e linless p.yment of imeresl
<br />at -" rate w<lilld lie contnry to applicable law, in wb,<h eVent ""''' amounts ,h.1I bear inte"",t at the highest role
<br />~bIe under applka!>1e Ia... Nothing contained in Ihi, par....aph 7 shall "'<tuire lender to incur OilY ""pense or take
<br />aoy~~.
<br />... ~ Lendct ma.y make Of CIl1.l>>C: to be m" rt\lls.o-uahle enlne$ upon and mapeclions of the Pr-opt<rty. pr'onded
<br />0.* ~._tW ...._ Borrvw--itt !'tOll" prior to al}Y s~h i-tl$~tkm -spedfyin, reaJooable ,*we ther-et-Ctf related w I cndcr'~
<br />lil_llI,.tlIerPrO_V.
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