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<br />UNIPORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />.1. hymeat of Prindptd ami Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Notej 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 Trust.
<br />2. F'1mtIsfor Tax.. and I_ranee. 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 "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-twelfrh of yearly premium installments for hazard insurance.
<br />plus one-twelfth of yearly premium instal1menrs for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to time by_Lender on the basis of asse8Smenb 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 shaH 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 bllts, unless Lender pays Borrower interest on the Funds and applicable Jaw
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Deed of Trust that interest on the Funds shan be paid to Borrower. and unle.o;s such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings: on the Funds~ Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits. and debits to the Funds and -the
<br />purpose for wbich each debit to the Funds w",' 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 of taxes. assessments, 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 shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shaH not be sufficient to pay taxes. a~sessments, insurance premiums and ground rents as they fall due.
<br />Borrower shaH 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 aU sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, lender
<br />shall apply. no later than immediately prior to the sate 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. 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 by Lender first in payment of amounts payable to -Lender by 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. 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 the 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 receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority ('lver this Deed of Trust: provided, that Borrower shaH not be
<br />required to discharge any such Hen 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 shaH in good faith conlest sllch 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 part thereof.
<br />S. Hazanllnsunmce. Borrower shall keep the imprO\'cments now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br />and in such amounts and for such periods a~ Lender may require: provided. that lender shall not require that the amount of
<br />such coverage exceed_ that amount of coverage required to pay the sums secured by this Deed of Trust.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided.
<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 or, jf not paid in such manner, by Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renewals thereof shaH be in torm acceptable lO Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lender shall h,lVe the right to hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums, In the event of loss.
<br />Borrower shaH give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />the Propeny damaged, provided such restoration or repair is economically feasible and the security of this Deed of Trust is
<br />not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Deed of Trust would
<br />be- impaired, the insurance proceeds shall be applied to the sums secured by this Deed of Trust, with the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to 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 Lender's option either to restoration or repair of the Property
<br />or tl) the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or JXlSlpone the due date of tbe monthly installments referred to in paiagraphs 1 and 2 hereof or change the amount of
<br />such installments, If under paragraph 18 hereof the Property is acquired by Lender. all right, title and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acquisition shall pass to lender to the extent of the sums .secured by this Deed of Trust immediately prior 10 such sale or
<br />acquisition.
<br />6. Preservation and Maiatenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />shall keep the Property in good repair and shalJ not commit waste or pcmlit impairment or deterioration of the Property
<br />and sball comply with the provisions of any lease if this Deed of Trust is on a leasehold. If this Deed of Trust is on a unit in a
<br />condominium or a planned unit development, Borrower shaH peaorm 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 of the
<br />condominium or planned unit development. and constituent documents. If a condominium or planned unit developmenl
<br />rider is executed by Borrower and recorded together with this. Deed of Trust, the covenants and agreements of such rider
<br />shall 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 J>ereof.
<br />7. Protectlo.. of Leader's SeauitY4 If Borrower fai!s to perform the covenants and agreements contained in this
<br />Deed of, Trust~ or if any action or proceeding is commenced which materially affects Lender's interest in the Property,
<br />jncJudin&. but not limi~ to1 eminent domain, insolvency, code e-nforcement. or arrangements or pc()(.;eedings involving a
<br />ba:nk..nJpt or decedent, then Lender at Lenders option, upon notice to Borrower, may make such appearances, disburse suc.h
<br />sums_ and take such action as ;s necessary to protect Lender's interest, including, bul not limited lO, disbursement of
<br />rcaiOJ;lab,Je attorneY's fees and entry upon tbe Property to make repairs. If Lender required mortgage insurance as a
<br />Cl)nditil)n .of makinl\ the loan secured by this Deed of Trust. Borrower shall pay the premiums required to maintain '\lch
<br />insura..nce in -effect until suc;;h'- time u the requirement for such insurance terminates in accordance with Borrower's and
<br />~..s wrIUCo' _a~t or avPlicable law. Borrower shaH pay the amount oC an mortgage insurance premiums in the
<br />mUIler.pro"ided Underparagrap6 2 hereof,
<br />,~y alDO~b dis~_ by Lende_f pumJant to this paragraph 7, with interest [hereon, shall become additional
<br />i~ or Borrower secured by this Deed of Trust. Unless Borrower and Len~ agree to other terms of paymenl, such
<br />SBtmIJ1ts shoIll bepayahle upon notice frnm Lender to Borrower requesting payment thereof. and .hall be.rinterest from the
<br />date of ~t at the rate_paya~, fron~ time to time on outstanding principal onder the Nole unless payment of interest
<br />at aKh tate would be contrary to applicable law. in which event such amounts shall bear inte.rest at the highest rate
<br />plIrtniulbMtmder applicable law. Notbing contained in this paragraph 7 shall re.quire Lender to incur any expeuse or rnke
<br />any actIml~dor'
<br />.... ~~,~ mAY make, or cau$C to be made teiUi(7-nabie-entri~ UPO!l and in.spections of the Property. provided
<br />tb.Jt ~~~ awe Botro-wcr not<<:.e prior to auy J;uch in$pe'tlon specifying reasonable came thcrefiw related h") Lcndcr\
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<br />005274
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