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I" 83--n05209 ... UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: .1. Payment of Prlndpal 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. Fnnds for Tax... and InsuraJree. Subject to applicable law or to a written waiver by Lender, Borrower.haU. pay to Lender on the day monthly installments of principal and interest arc payable under the Note, until the Note is paid in full. a .sum (herein "Funds") equal to one-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 premium installments for hazard insutanee, plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initiany and from time-to time by Lender on the basis of assessments and bills and reasonable estimates thereof. The Fund~ shaH be held in an institution the deposits or accounts of which are insured or guaranteed by.a Fed~ral_or state_agency (including Lender jf Lender is such an institution). Lender shall apply the Funds to pay said taxes; assess":lents, 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 pennits 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 interest or earnings on the Funds~ Lender shan give to Borrower, without charge, an annual 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 tbis Deed of Trust. It the amount of the Funds held by Lender, together 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, sllch excess shaH be, at Borrower's option. either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount bf the Funds held by Lender shall not be sufficient 10 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 aU sums secured by this Deed of Trusr. Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph 18 hereof the Property is sold or (he Property is otherwise acquired by Lender. Lender shall apply, no later than immedIately prior to the sale of the ProperlY 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 otherwise, all payments received by lender under the Note and paragraphs I 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, Ihen to the principal of the Notc, and then to interest and principal on any Future Advances. 4. Charges; Liens. Borrower shaH pay all taxes. assessments and other charges. fines and impositions attributable to the Property which may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any, in the manner provided under paragraph 2 hereof or, if not paid in such manner. by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph. and in the event Borrower shall make payment direcUy, 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 Borrower shall not he required to discharge any such Hen so long as Borrower shall agree in writing to the payment of the obligation secured by such lien in a manner acceptable to Lender, or shall in good faith conlest sllch lien by, or defend enforcement of such lien in. legalf.roceed.ings which operate to prevent the enforcement of the lien or iorteiture of the Property or any part t.hereof. . Hu:ard IIISW'aIICe. Borrower shall keep the improvements now existing or hereafter erected on the Property Insured against loss by fire. hazards included within the term "extended coverage", and such other hazards as Lcnder may require and in such amounts and for such periods as Lender may requjre~ provided, that Lender shall not require that the amount of ~uch 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 by Borrower subject to approval by Lender; provided. that such approval shall not be unreasonably withheld. All premiums on insur;mcc policies shall be 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. An insurance policies and renewals thereof shall be III form acceptable to Lender and shall include a standard mortgage clause in favor at and in form acceptable to Lender. Lender s.hall have the right to hold the policies and renewals thereof. and Borrower sball promptly furnish to Lender ail renewal notices and all receipts of paid premiums_ In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender ma.y make proof of loss if not made promptly by Borrower, Unless Lender and Borrower otherwise agree in \",'riting. insurani.:C proceeds shall be applied to restoration or repair of the Property damaged, provided such restoration Of repaIr is economically feasible and the security of this Deed of Trust is not thereby impaired, If such restoration or repair is not economically feaSible Of if the security of this Deed of Trust would be impaired, the insurance proceeds shall be applied to the sums secured by this Deed of Trust, with the excess. if any, paid to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benetils, 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 se<:ured by this Deed of Trust. Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shaH not extend or poslpone the due date of the monthfy installments referred to ill paragraphs I and 2 hereof or change the amount 01 such installments. Jf under paragraph I ~ hereof the Properly is acquired by Lender, all right, title and interest of Borrower in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale or acquisition shall pass to Lender to the extent of the sums :secured by this Deed of Trust immediately prior to such sale or acquisition. (\. Preservadon lIJId Malatenam:e of Property; Leaseholds; Condominloms; Planned Unit Development.. Borrower shall keep the Property in good repair and shall not commit waste or permit impairmenl or deterioration of the Property and shall comply with the prOVisions of any lease jf 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, Borrower shall pedorm all of Borrower's obligations under the declaration or covenants creating or governing the condominium or planned unit development, the by.laws and regulations of the condominium or planned unit development, and constitucnt documents. If a condominium or planned unit dcvelopm~ot rider is executed by Borrower and recorded together wi!h this Deed of Trust, the covenants and agreement.s of slIch rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Deed of Trus.t as if the rider were a part hereof. 1. Pn:.ledion of l.eDder'. Security, If Borrower fails to perform the covenants and agreements contained in thi;:; Deed of Trust~ or if any action or proceeding is commenced which materially affects Lender's interest in the Property, including, but uot limited to, emineot domain. insolvency, code enfor~ment, or arrangements. or proceedings involving a bankrupt or decedent. then Lender at Lender's option, upon nmice lO Borrower, may make such ap~aranccs. disburse such sums and take such action as is necessary to protect Lender's interest, indudmg. hUl not limited to, disbursement of reasonable attorney's fees and entry upon tbe Property to make repairs. If Lt:nder required mOflgage ins.urancl: a:-. ;1 condition_of making the loan secured by lhis Deed of Trust. Borrower shall pay the ptemiuHls required to maintain sUl.:h haurance in effect until --such dme as the requirement for such insurance terminates in accordance with Borrower's and l.;.endc(s wri~n a~t or applicable law. Borrower shall pay the amount of all mortgage insurance premiumll in the mannct prov,ded un4er paragraph 2 hereof. An-y amounts d~bUned-, bi' Lender pursuant to thi$ paragraph 7, with interest I h.ett.'o-n , ~hail hel;omc additional indebtednes:! of BotroWcf .liecured by tbis Oec:d of Trust. Unless Borrower and I .ender agree to other terllls of payment, \llch iU)lQUntl- shaU be pay.ble upo-n no-tlce from Lender to Borrower rcquC$ting payment thereof. and s.halt hear interest f WOl {he \ule of diI~nllU the "te payable_ from thne to _time on outs.tanding principal under the NOfe llnle-s:!j payment of in(erc-.st -,"- Ntb rm woufd be_ contrary 1-U applicable law. in whkh event ~u<:h amOUfns :;haU ~ar interest at (he hlghest ntlc ~b1e-"nde-r apptkJlWt law. Nothing conbined in this paragraph 1 shaH require Lender h) irx'ur any e,\.pense or take any ""tWn hi!r~. Is ~ l..e:ndu may make Of C.tU,~ tQ N" made r-ea!itonab1e entrie~ up.nll .Hll.f IOS.pc-Ct!O-llS of the Pn:.~pcrty, pnJ\ ide...! (bit :L..cnder ~ 1.Nc, JQt-rowe-r notice ptior to ~ny ';.u\:-o in3ipct:li!)l) tipedfying reaM_H1ahle cause thcrd,)f relafed to 1 end~(" llltt_ i.. !.be .J'r<>Ifeln>.