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<br />83- 005360
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<br />UNIFORM COVf.NANTS. Borrower and Lender covenant and agree as follows:
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<br />t. Payment of t>>rindpal and Inferest. Borrower ...hall promptly pay when dlle the principal of and inlcrc<.;1 {lll the
<br />Hldchtcdncsc; evidenced by the Note. prepayment and !;11L' charges as provided in the Note. and the principal of and interest
<br />011 any Future Advance"" sl'curnl by this Deed 01' 'I fU'\1
<br />2. Funds for Taxes and Insurant.'e. Suhject to applicahle law or to a written waiver hy Lender, Borrower shall pay
<br />In Lender on Ihe day monthly installments of principal and interest arc payable under the Note. untillhc Note is paid in full.
<br />a slim (herein "Punds") equal to one~twclfth of the yearly taxes and ilSSCs.sments which may attain priority over this
<br />Deed of Trust. and ground rents olllhe Property. if any, plus pnc-lwelfth of yearly premium installments for hazard insurance.
<br />plus one-twelfth of yearly premium installments (or mortgage insurance. if any. all as reasonably estimated initially and from
<br />time 10 time by Lender on the basis of assessments and hill\; and reasonable estimates thereoL
<br />The Funds Sh~lll be held in an institution the depOSits or ilt.'~(llmts of \.\,'hich arc insured or guaranteed hy a Federal or
<br /><:-Iate agency (including Lender if Lender is ...uch an institution). Lender shall apply Ihe Funds to pay said taxes, assessments,
<br />insllf,mcc premiums and grol.l~d rents. Lender may not charge for so holding and applying the Funds. analyzing said account
<br />or verifying and compiling saHI assc"sment<; and bills. lInle<;", Lender pays BOffm,,'cr interest on the Funds und applicable law
<br />permits. Lender !(} make stlch a charge. Borrower .~lnd Lender may agree in writing at the lime of exccuti~n of this
<br />Deed ()l' Trust tllat interest on tht: Funds "hall he paid to Borrower. and onle"" 'iuch agrcement IS made or applicable law
<br />requirc,> such interest to be paid. Lendcr shall nlH be rcqlllred hl pay Borrower any interest or carnings on the Funds. Lender
<br />shall give to Borrower. without ..:hargc, an annual accounting of the Fund" ..howing credits and debits to the Funds and the
<br />purpose for which ~ach debit to the Funds was made, The Funds arc pledged as additional security for the sums secured
<br />hI,.' this De-ed of Trust.
<br />. If thc.amollnt of The Funds held h')' Lender. logether with the futllre monthly installments of Funds payable prior to
<br />The due dates of laxes, asse.;;sment'>, insurance premiums. and ground rents, ~hall exceed the amount rcqui.rcd to pay said taxes.
<br />assessmcnts, insurance premiums and ground rt.'nls ;IS they t:dl uue, \uch excess ,hall he. at Horrower's option, either
<br />promptly repaid to Borrower or Lredit~d Il) Borrower no monthly installmcnrs of Funds. If the amount of the Funds
<br />held by Lender ",hall not be 511tllcicnr 10 pay laxes. (lSSCS,rnellIS, inslIrance premiums and ground rents as they fall due.
<br />Borrower \hall pay tn Lender ,my amount necessary 10 make up the deficiency \\iithin 30 days from the date notice is mailed
<br />by lender to Borrower requesting payment thereof
<br />Upon payment in full l)f all sums securcd hv thiS D~cd {1[ rru<;L Lendcr shajJ promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph I S hereof the PropCflV h 'wid or IhL' Pn~perty IS o!hcn....ise acquired by Lender. Lender
<br />shall apply, no later than immediately pnor t,1 The ,-,de 01 lhe Propeny Ilr its acquisition by Lender, any Funds held by
<br />Lender at the time of 3pp1ication ;IS a credit against the ~lIm<; :-.t:curcd Iw this Deed of Trust.
<br />3. Application of Pa:rments. Unh::ss. applicable I,tv. prlwldc>;; (Itht.'rv,..,sc. ail payments received hy Lender under the
<br />Note and paragraphs I and 2 hereof sh311 he apphcd hv I.cndcr fir>;;t 1fI paymerl! l)f amounts payable to Lender hy Borrower
<br />under paragraph 2 hereof. then to interest payabk nn the Note. thcn h.i Ihe principal of the Note. and then to interest and
<br />principal on any Future Advances.
<br />4. Chuf2es; l.iens. Borro\\'cr ...hall P::J.Y :dl t:l\CS. ;l'\sessmenls ..md (l[hcr charges. nnes and impositions attributable to
<br />the Property which may attain a priority over lhis Deed of Trust. :..tl1d k.'asehold payments or ground rents. if any, in the
<br />manner provided under paragraph 2 hereof or. if not paid in slIL'h manner. hy Borrower making payment. when due. directly
<br />to the payee thereof.. Borro\..:cr shall promptly fUfl1lsh to l.enoer ;t11 nollce:- of amounts dlll.' under this paragraph, and in the
<br />event Borrower shall make payment Jircl.:tly. Born.1\\:cr shall pmmp!ly furnIsh I,' I.coder r~celpts evidencing slIch payments.
<br />Borrower shall promptly discharge .Jny liell \\.hich has pnorl!v (l\Cr Ihl~ Deed 01 !"rusl: provided, that Borrower shall not be
<br />required to discharge any sllch li~11 :-.0 It)ng. as Burruwer "hall Hgrcc ill \'.filing t\.l the payment uf the obligation secured by
<br />such lien in a manner acceptable 10 Lender. nr sh311 In goud LUlh clHltest \uch Ilen by. or dcf~nd cnforcl:mcnl of stich lien in,
<br />legal proceedings which operate t() prevellt the ~ntorl.:emL"H (l1" the ill'll (,r fnrfcitUfe l\f the ProperlY or any part thereof.
<br />s. Hazard Insurance. Borrower shaH keep Ihe !Illprovements now C\lS-tlllg Llr hereafter ercl.:tcd on Ihe Property insured
<br />against loss by fire. hazards induded withlll lhc tCTn1 "exlended coverage.' .lfh! "uch olher hazards ;:IS I.ender may require
<br />and in such amounts and for sUl.:h pefJods a~ 1.L'IlJcr Illav ft.'L\ll!rL'; rrovllkd. that Lender sh<lll not require that the amoLlnt of
<br />stich coverage c,\.ceeu that amount of c()\'crage reljlm..:d in pa~ the SHill., ..,t.'L'lIrcd by thIS Deed (If Trust.
<br />The insurance carrier providing the in.,urancL' "hall be cho-:.en by Horn.lwer subjeL't Itl appruval by I.enuer: proYldeu,
<br />that such approval shall not be unreasonahly \\-ithhclo. All premiums on ill~uranLc poiicics shall he paid in the manner
<br />provided under paragraph 2 hereof or, II nut paid III :>uch m<.lUller. h~ Borrower making payment. when due, directly to the
<br />insurance carrier.
<br />All insurant..:e policic~ ,If'llJ n:"Il~w:lJs then:o! ~11all he 111 !I)rlll a":':t.'plabk III l.ender and shall lIh:lude a standard mongage
<br />clause in favor of and in lorm ~cccplabk I() Ll'nJer. l.enJel ~hall ha\t.' !he nghl to hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish to Lender .lll renL'\',al \lorice" :111U ;111 reu~.ipIS llf p,ud premiums, In the event of loss.
<br />Borrower shall give prompt notl~C' III the InSllran~t: ..:dJJtt.:f ;lnd 1.L'lh.lei.. l.t:nder may l11i.ll-..c proof of ioss if nol l!lade promptly
<br />bv Borrower.
<br />- Unless Lender and Bormwl.'r l)thcrWlse agll'~ ill \\ ntlng, InSUfilllU.' {H\xceds ...hall he applied In rt;~lori.Hion or repair 01
<br />the Property damaged. pruvilkJ ~Udl rCSlllratldli l'f rep~tlr I., 1.''':'\llI.Hllh':...tlly lea\ibl\.' ,mL! the ~cl.:llriIY l1f thIS Deed of Trust is
<br />not thereby impaired, If such restouiiion l'r fl'P,;!lf is flot e~l)IWflli":dJly fl:aSlblc O[ Ii lhe sCLurity l)f Ihb Dced of TrusI would
<br />be impaired, the instlrance pro('ceds sh;dl he ;Ipplied 1\) the sum:- ~L'(UICJ hy thi" Deco of Trust. with tht e\('css, If any. ralll
<br />to Borro""er. If the Properly i~ ~banol'ncd by BOrJoWL'f. ()!' if BOfrl)\l,Cr fail... hl rc~pl1nd hl Lender \\.ithll1 30 days from the
<br />date notice is mailed by Lender 10 Borrower th~lt Ihe II1Sur.l.IlCC earlier oller:. to settle il ..:laim for Insurance henefits. Lender
<br />is authorized tu ..:ollcl:{ ..md apply the insurao..:c pro..:eed.. :11 Lcnucr's l)plion eITher to resToratioll or repair of the Property
<br />or to the sums secured by thIS DeeJ l)f Trust.
<br />Unless Lender and Borrower otherwise agrr:~ in writing, ;In) :>.u-.:h ;qlpltCilllllH ,l[ pro..:ecus 11) prim:ip.ll shall not l.:'xtend
<br />or postpone the due date of the monthly in...tallm~n(s ic1errcu lu in p"r..lgraph~ 1 and 2 hereof or l..'hangc the amount 01
<br />such installmclHs, If under paragraph IS herciJf the Propat) I:>. aCYUircd hy Lender, all right. title and interest of Borrower
<br />in and to any insurance policies and in and to the prl)t:~;:::ds thereoi resulting frolll damage to the Property prior to the sak
<br />or acquisition ~hall pass (0 Lender to the ~.\lcnt of th~ surns. ~r,;curcJ by Ihis DccJ of Trust Immediately prior to such sale or
<br />acquisition.
<br />6. Preservation and Malntenulli:c of Propecl.)'; Leasehulds; Condominiums; I'tanned lJnit lle\'elopments. Borrower
<br />s.hall keep the Propeny in guod repair and shall llor ClHlllllll W.1st..: or permit impilil'lllCIH Ul" ~ktclior<ltion of the Property
<br />and shall comply with the provisions of any lease jf this Deco of Trll':'! is (In a leasehold. If this Deed of Tmst is on a unit in i.l
<br />condominium or a planned unit development. Borrower Shill! pct:form 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 do~umcnts. If a ,.;ondolllinium or planned unit development
<br />rider is executed by Borrower and recorded together with this Deed of Trust, the l,^:ovcnanIS and agreements of such rider
<br />shall be incorporated into and shall amend and supplement the co\'enanb anJ agreemenrs of this Deed of Trust as if the rider
<br />were a part h~reof,
<br />7. Protection of Lender's Securit,)'. If Borrower fails lO perform the covenants anJ agreements contained in thi.s
<br />Deed of Trust, or if any action or proceeding is commen.::eu which materially atIccts LenJer's interest in the Property.
<br />induding, but not limited to, eminent domain, insolvem.:y. code enforcement. or arrangements or proceedings involving a
<br />bankrupt or decedent. then Lender at Lender's optk"\n. upon notice 10 Horrower. may make stich appearances. disburse stich
<br />sums and take such action as is necessary to protect Lender's Interest, including, hut not limited to. disbursement of
<br />reasonable attorney's fees and entry upon the Property to !luke repairs. If Ll:ndcr rC411ircd mortgage insur..rncc as <l
<br />condition of making the loan secured by this Deed of Trust. Borrower shall pay the premiums required to maintain stich
<br />insurance in effect until such time as the requirement fl..1r ))uch insuram:e terminates in accurdancc with Borrower's and
<br />Lenders written agreement or applicable law. Borrower shaH pay the. amount of all mortgage insurance premium~ in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed .by Lender pursuant to this paragraph 7. with iotcreM thereon. shall become additIOnal
<br />indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shall be payable upon notice from Lender to Borrower requesting paymellt thereof, and shall near interest from ihc
<br />date. of disbursement at the rate payable from time to time on (lutsianding prin\.:ipal under fhe Note unlcs~ payment of interest
<br />at'such rate would he contrary to -applicable law, hI which event "llch amounb shall he.H' in!t.:rcst at lhe hight:st rate
<br />permissi,blc under applicable Jaw. Nothing contairlcJ in this p..tragraph 7 ~h;.tll f\.'yui,c L~nJL'r to incur ~my expense or takc
<br />any action hereunder.
<br />8. JnspecUon. Lender may make or cause to be made reasl)llahlc cntrje~ \lpon ,lOll inspl.'C1ions of Ihc Property. pr{lVi(kd
<br />that Lend~r !than give Borrower notice prior to i.lny su.;h in:spcl.:tli.\11 .o..,:pcdfying reU~tll1ablc ;,:au~\.' ,hl..'n:f~)j rel<ltcd to Ll.'lldl..'l"'~
<br />interest in the Prooertv.
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