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<br />83,:;,;. () [I 5181
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<br />UNIFORM COVENANTS. Borrower and lender covenant and agree as 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 of Tnls\.
<br />2. Foads for Tax... and Insursnce. Subject to applicable ION or to a written 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 sum (herein uFundsU) equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Deed of Tn!st. 2.nd gn:mnd 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 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 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 />insurance 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 writing at the time of execution of Ihis
<br />Deed of Trust that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to. be paid, Lender shall nat be required to. pay Borrower any interest or e~rnings an the Funds. Lender
<br />shall give to Borrower, without charge, an. annual accaunting 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 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 o.f taxes, assessments, insurance premiums and gr~und rents, shall exceed the amount required to. pay said t~xes.
<br />assessments, insurance premiums and ground rents as [hey tall due. slIch excess shall be. at Borrower's option, either
<br />promptly repaid to Borrower or credited to. Barrower or. manthly installments of Funds. If the amount of the Funds
<br />held by Lender shall nat be sufficient to pay taxes. assessments. insurance premiums and ground rents as they fall due.
<br />Borrawer 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 full of all sums secured by this Deed of Trust. Lender shall promptly refund to Barrower any Funds
<br />held by Lender. If under paragraph 18 hereaf the Propeny is sold or the Property is otherwise acquired by Lender. Lender
<br />shall apply, no later than immediately prior to the sale of the ProperlY 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. Application of Payments. Unless applicable law provides otherwIse, all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied hy Lender first in payment of amounts payable to Lender hy Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note. then to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Charges; Liens.. Borrower shall pay all taxes. .lsscssments 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 the payee thereo.f. Borrower shall promptly furnish to Lender all notices. of amounts due under t~is paragraph, and in the
<br />event Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts eVldcncing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Deed of Trust: provided. that Borro,^:cr shall not bt:
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith conles[ sllch lien by. or defend enforcement of such lien in.
<br />legal proceedings which operate to prevent the cnfo~cement (If the lien or forfeiture of the Property or any pan thereof.
<br />5. Hazard Insuraoce. Borrower shall keep the Improvements now eXIsting or hereafter crccfed on the Property insur.cd
<br />against loss by fire. hazards included ~'ithin the term "extended i.:overage'", and such other hazards a~ Lender may rcqlllre
<br />and in such amaunts and for such penods as Lender may reqUire: proVIded. that Lender. shall not reqUIre that the amount of
<br />such coverage exceed that amaunt of coverage reqllired to pay the sums secured by thiS Deed of Trust.
<br />The insurance carrier providing the insurance 5hall be chosen by Borrower subject to approv,ll by Lender: provided.
<br />that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manDer
<br />provided under paragraph 2 hereof or. if not paid in such manner. by Borrower making payment. when due, directly to the
<br />iDSuraoce carrier.
<br />All insurance policies and renewals Ihereoi shall he in form a.::ceptable 10 Lender and shall IOclude a standard mortgage
<br />dause in favor of and in form acceptable to Lender. Lender sh~lI have the right to hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish to l.ender all renewal notices and :.11 receipts of paitl premiums. In the event of loss.
<br />Borrower shall give prompt notice to the insurance carrier and Lender. LenJer may make proof af loss II not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherWise agree in writ 109. lm,urancc proceeds shall be applied to rc:-.lOration or repaIr of
<br />the Property damaged, provided such restoration or fep.ur I~ c...onomically fca:)ible and the securily llf this Deeo of Trust J~
<br />not thereby impaired. If such reslOration or repair is not economically feasible or ii the security of this Deed of TrusI would
<br />be impaired, the insurance proceeds shall be applied to the sums secured by Ihis Deed of Trust. with the excess. if any, paid
<br />to Borrower. If the Property is abandonel.l by Borrower, or if Borrower fails to respond (0 Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the Insurance carrier offers to settle a claim for insurance benefits, Lender
<br />is authorized to collect .and apply the insurance proceeds at Lenders .option either 10 restoration or repair of the Propen)'
<br />or to ,he sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any !l.uch application of proceeds to prinCipal shall not ex.tend
<br />or postpone the due date of the monthly installments referred to in paragraphs J and:! hereof or change the amount of
<br />such installments. If under paragraph IX hereof the Property IS aC4uired by Lender, all right. title and Hllerest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resulling from damage to the Property prior 10 the sate
<br />or acquisitIon shaH pass to Lender to the extent of the sums secured by this Deed of Trust immediately prior to such sale or
<br />acquisition.
<br />6. Preen.doa and M.te~e of Property; Leaseholds; Condominiums; ~Ianntd Unit Developme~lS. Borrower
<br />shall keep the Property in go(xl repair and shall not commll V,;Jstc or perll111 imp~lUmcnt l)f ucterima[inn 01 the Property
<br />and sball comply with the pravisions of any lease if this Deed of Trust is on a leasehold. If this Deed of Trust i~ on a unit in it
<br />condominium or a planned unit development. Borrower shall peuorrn all of Borrower's obligations under the: declaration
<br />or covenants creating or governing the condominium or planned unit development. the by-laws and regulations (1( the
<br />condominium or planned unit development. and constituent documents. If a condominium or planned unit development
<br />rider is executed by Borrower and recorded together with this Deed of Trust. the covenants and agreements of slH.:h rider
<br />shaH be incorporated into. and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider
<br />were a part hereoL
<br />7. ProtKUoa of Lenders Security. If Borrow~r fails to perform the covenants and agreements I,:ontaincd in this
<br />Deed of Trult, or if any action or proceeding is commenced which materially affects Lender's interest in the Property.
<br />including. but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
<br />bank.rupt or decedem, tben Lender at Lender's option, upon notice to Borrower, may make such appcar;Jnces. dishlJrsc ~uch
<br />sums aad take such action as is necessary to protect Lender's interest. includine:. bUl not iimi~ed tv, disbursement of
<br />reasonable auo-mefs. fees and entry upon the Property to make repairs. If l\endcr required mortgage in~uram:e ;.l::, a
<br />condilion -of making the loan secured by this Deed of Trust, Borrower shaH pay the premiums re.quired to maintain 311ch
<br />ift5urance In effect until such time as the requirement for such insurance terminates in accordance with Borrower\ ~nd
<br />Len~'s wr~en agreement or applicable Jaw, Borrower shaH pay the amount of all mortgage insurance premium!!. in th.;
<br />J1'IllllMr proVided under parallraph 2 hereof.
<br />Any amounts disbursed by Lender pursuam to this paragraph 7. with lnleres.t thereon. shall bCi.:on'IC addifional
<br />indebtedness of Borrower secured by this. Deed of Tru~t. Unless Borrower and Lender agree to other terms Qi paymcni, ~uch
<br />amount$' shalt be payable upon notk:c Jrom l.ender tn_ Borrower rc-tfuesting payment thcreof. and shaH ~-ar interest from the
<br />date of ditbu~nt at the ~ payable trom time to time on nuhtanding princ'ipuJ under fhe Note Hnles!J. payment of interest
<br />at such rate would be contrary to app'licabJe Jaw, in Wh,iCh event ..neh amounts. shall hear in.lereS:l at the highest ralC
<br />penn-i.Hjb!e under appl<<:abl~ law. Nothmg t'Onlained in thla paragraph 7 "hall require Lender to incur any expense or take
<br />ldlY a.;tioo hereunder,
<br />L ~ 1...J:~t may male or came 'tQ be made (clUuni:tbk entT1~!' upon J_OU iMpe,"'hi,)m of the Property, pr{l'tdt.J
<br />that l.eudef.!ha11 Jwe Bo-Hower notic-e pC-lOt' to :.tny ~u,h wspedh:1'n spedfymS re-.tsunabh: cau~i,': therefor rdated !I.) I cnJcr'"
<br />mlereol ." the l'roPCrty,
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