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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 Trust.
<br />2. Fuds for Tn.. ud Insurance. Subject to applicable law or to a wrillen 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 "Funds") equal to one~twelfth of the yearly taxes and assessments which may attain priority over t~js
<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 -Punds shall be held in an institution the deposits -Of -accounts of which are insured_ or guaranteed by_ a Federal or
<br />state agency (including Lender jf Lender is such an institution). Lender shaH apply the funds- to pay-said taxes, assessments.
<br />insurance premium-s and ground rents. Lender may not charge for so holding and applying the Furids, analyzing said account
<br />or verifying and compiling said assessments and bills, unless lender pays Borrower interest on the Funds and applicable law
<br />pennits 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 shall be paid to Borrower, and unless 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 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 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 shall not be sufficient to pay taxes. assessments. insurance premiums and -ground rents as they fall due.
<br />Borrower 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 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 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. Application of Payments. Unless applicable law provides otherwise. aU payments received by Lender under the
<br />Note and paragraphs t and 2 hereof shall be appl~ 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 sllch manner, by Borrower mak.ing 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 sllch payments.
<br />Borrower shall promptly discharge any lien which has priority over this Deed of Trust; provided, that Borrower shall not be
<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 contest sllch lien by, or defend enforcement of stich 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. Hazanllnsunm<<. Borrower shall keep the improvements 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 as 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, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies aDd renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lender shall have 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 shall 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 Property damaged, provided such restoration or repair IS cl:onomically 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 f<11Is 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 to 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 postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments. If under paragraph I S 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 to such sale or
<br />acquisition.
<br />6. Preservation and MaIntenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />sha.ll keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property
<br />and shall comply with the provisions of any lease if this Deed of Trusl is on a leasehold. If this Deed of Trust is on a unit in a
<br />condominium or a planned unit development, Borrower shall petform all of Borrower's obligations under the declaration
<br />or covenants crealing 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 development
<br />rider is executed by Borrower and recorded togt:lher with this Deed of Trust, the coVenan~') 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 hereof.
<br />7. Proted:ioa of Lcuder~5 Securit).. If Borrower fails to perform lhe 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 />including. but not limited to? eminent domain, insolvency, code enforcement. or arrangements or proceedings involving a
<br />bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower~ may make such appearances, dishurse such
<br />sums and tak,e such action as is necessary to protect Lender's interest, including, but not limited to. disbursemt:nt of
<br />reaspnable altOl;ney's fees and entry upon the Property to make repairs. H ~ender required mortgage insurance as ;:\
<br />CQIIqition. of making the loan secured by this Deed of Trust, Borrower shall pay (he premiums required to maintain such
<br />ifl$U!raru;e in effect unt_iI sucb time as the requirement for such insurance terminates in accordance with Borrower's and
<br />Lender', Wri.ttcm aareemc. nl_or aP.,plicablC law. Borrower shaH pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragrapli 2 hereof.
<br />Any amounts _ disbuned _ by Le.ndet pursuant to this paragraph 7, wilh [')teresl thereon. shall become additional
<br />indcbte;dne:&$_of.Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payolenl. such
<br />amouot&--shaU be payable, upon notice_ from.limder to Bor:row-er requCS-ting payment thereof, and shaU bear interest from the
<br />dat<l of. dI$l1\I~t at the rate payable from time to lime on outstanding principal under the Note unless payment of interest
<br />~'_ ~ rate wO\dd -be contrary to applitable law; in which event ~uch amO\Jnts shaH bear interest at the highest rate
<br />pol-flUI.1.ibto.u.ndef .pp1ieable law. Nmhing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any _ benlunder,
<br />I. ~ Lender may make Of -caUK to be made reasonable entries upon and inspections of the Property. provided
<br />~t ~ .$hatl livo Borrower notice prior to a.ny iuch inspection specifying re~onabk: cause therefor re).ated to Lender's
<br />,nt_ In the Pro\'lCl'tv.
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<br />83- 005276
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