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<br />83- 005362
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />.1. Payment of Principal anti 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 />Z. Funds for Tax... .ntll_rance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly instaUments of principal and interest are payable under the Note. until the Note is paid in fun;
<br />a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Deed of Tnlst, and ground rents on the Property. if any. plus one-twelfth of yearly premium instaUments for hazard insurance.
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, an 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 shan 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 :aw
<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 shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requires stich interest to be paid. Lender shall not be required to pay Borrower any interest or earnin~s on the Funds, Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and deblt.s 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 10
<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 ilS 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. asses~ments, 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 Ihereof.
<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 he:reof the Property is sold or the Propert.y is othcf\.\'ise acquired by Lender, Lender
<br />shan apply. no later than imme(hately pflor 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. AppUcation of Payments. Unless applicable law provides otherwise. all payments received by Lender under the
<br />Note and paragraphs I 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 slIch 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 contcst such lien by. (lr defend enforcement. of sllch lien in.
<br />legal f.roceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />. Hazard lusunmce. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire. hazards included within the term "ex.tended coveragc.., and such other hazards 3S Lender may require
<br />and in such amounts and for such periods as Lender may require; provided, that Lender shall nol require that the amount of
<br />~uch 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 />AU insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in focm 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 unu Lender. Lender may make proof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writlllg, insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair is cCfHlomically feasible and the security of this Deed of Trust is
<br />not thereby impaired. If such restoration or repair is nol 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 TnJst, with the excess. if any, paid
<br />to Borrower. If lhe 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 to the sums secured by this Deed of Trust.
<br />Unless lender and Borrower otherwise agree in wriring, >lOY such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred 10 in paragraphs 1 and 2 hereof or change the amount of
<br />such installments. If under paragraph I ~ 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 ihe extent of the sums secured by this Deed of Trust immediately prior to such sale or
<br />acquisition.
<br />6. Preser..ation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />shall keep the Propeny in good repair and shall not commit wasre pr permit impuirmenl or deterioration of the Property
<br />and shall comply with the prOvisions of nny lease if this Deed of Trusr is on a leasehold. If this Deed of Trust is on a unit in a
<br />condominium or a planned unit development, Borrower shall per:form all of Borrower"s obligations under the declaration
<br />or covenants creating or governing the condominium or planned unit development, the by~laws >lnd regulations of the
<br />condominium or planned unit developmem. and constituent documents. If a condominium or planned unit development
<br />rider is executed by Borrower and recorded together wirh this Deed of Trust, the covenants and agreements of such rider
<br />shall be incorporated into and shaH amend and supplement the covenants and agreements of this Deed of Trust as if the rider
<br />were a part hereof.
<br />7~ Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this
<br />~ of Trust. or if any action or ptoceeding is commenced which materially affects Lender's interest in the Property.
<br />mcluding. 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, disburse such
<br />sums and take such action as is ne-cessary to protect Lender's interest. including. but not limited to, disbursement of
<br />reasonable attorney's fees and entry upon tbe Property to make repairs. If Lender required mortgage insurance ,as. a
<br />condition of making the loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain such
<br />insurance in effect until such time as the requirement for such insurance terminates in ~Iccordance with Borrower's and
<br />Lender's written agreement or applicable law. Borrower shaU pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by lender pursuant to this paragraph 7, with int~[cst Thereon. shall become additional
<br />indebtedness of Borrowe.r secured by this Deed of Tru~t. Unless Borrower and Lender agree to other terms of payment. such
<br />amou.-"1u shan be pay.hle upon notice from tender to Borrower requesting payment thereof. and shall bear interest (rom the
<br />date of disbursement. at the rate payable from time- to time 011 outstanding principal under the Note unless payment of inierest
<br />at such rate would be contrary to applicable law, in whtch c-vent ~uch amounh .,halt bear inh.m~st at the highest rate
<br />ponniJaible. under applicahle taw, Nothing: contained in this p~i.cagrap-h "'1 ghllll ft"quire Lender to incur an)' expense or take
<br />any action her1>!Inder.
<br />I. ........... l..ender m.ay make Of cause to be- made re3s(~IH,bJt en(ri~ UP'll" ,mJ In~pedi(\llS of the Propeny. pr~lvided
<br />~hAt Le~ shafl live Borrower notice prior to any :;u<:n iO$pC''''t;on .specifying reasonable- Cause therefor related to 1 \.'odcr\
<br />tnte'. m the Pfollel'1V,
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