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831')05428 UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: J. Payment of Principal 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 'he princIpal of and interest on any Future Advance!; secured by this Deed of Trust. 2.. Fands for Taxes and Insurance. Subject to applicahle law or to a written waiver by lender, Borrower shall pay fa Lender on the-day monthly installments of principal and inlerest are payable under the ~ole, untit the Not.c is paid in fnl.1. a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments whIch may altain Priority over this Deed of Trust, and ground renls on the Property, if any, plus one~twclfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly premium instaliments (or mortgage insurance, if any, all as reasonably estimated initially and from time to time by Lender on the basis of assessments and bills and reasonable estimates thereof. The Funds shall be held in an institution the deposits or accounts of which arc insured or guaranteed hy a Federal or state agency (induding Lcnder if Lender is stich an institution). I,coder shall apply the Funds to pay said taxes. ~Issessmcnt~. insurancc premiums and ground rents. Lender may nor charge for so holding and applying the Funds, .an<lIY/ing said account or verifying and compiling said assessments and bills, unless Lender pays Borrower mterest on the ,Fund.. and applicable law permits Lender to make slIch a charge. Borrower and Lender mitY agree in wnting :..It rhe tIme of execulion of this Deed of Trust that interest 011 the Funds shall be paid to Borrower. and unless slIch ~lgrccment is made or applicable law requires slIch interest (0 be paid, lender shall nor be reqUired to pay Borrower ,lilY mleres[ or earnings on the Funds. I.ender shall give to Borrower, without charge, an annual accounting of the Funds shOWing crt"dits and dchils to Ihe Funds and the purpose for which each debit to (he Funds was made. The Funds are pledged as additional security for the sums secured by this Deed of Trust. If the amount of the Funds held by Lender, together with the future monlhly installments of Fund!> payahle prior to the due dates of taxes, assess~ents, insurance premiums and gr~und rents, shall c;...:ccd the amount rcqlHrcd to pay said ta\~s, assessments, insurance preml\JOlS and ground rents as they lall due, such exce~s shall he. at Borrower's option, cilher promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amotlnt of the Fund.. 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 wlthlO 30 days from the date notice is mailed by Lender to Borrower requesting payment thereof. Upon payment in full of all sums secured by thIS Deed of Trust~ Lender shall promptly.refund to Borrower any Funds held by Lender. If under paragraph 18 hereof fhe Property IS sold or the Properly IS otherWIse ~cquired by l.ender, Lender shall apply. no later than immediaiely prior to the sale of the Property or its acquisitIOn by Lenuer. ;Jny Funds held by Lender at the time of application as a credit against the sums secured hy this Deed of Trust. 3. Application of Payments. Unless applicable law plUvides otherWise, all payments received by l.ender under the Note and paragraphs 1 and 2 hereof shall be applied by Lender first 10 paymen~ o~ amollnts payahle t,) l.ender hy Borrower under paragraph 2 hereof, then to interest payable on the Note. then to (he princIpal of the Note, and then to interesl and principal on any Future Advances. 4. Charges; Liens. Borrower shall pay all ta.\CS, assessments and nlhcr charges. fines and ImposItions allributablc t~, the Property which may attain a priority over this Deed of Trusl, and leasehold paymenrs or ground rents, if any, in the manner provided under parat. :-aph 2 hereof or, if not paid in such manner, by Borrower making paymenr, when due, directly to the payee thereof. Borrower shaH promptly furnish to Lender all nOlices of amounts due under this paragraph, and in the event Borrower shall make payment direcily, Borrower shall prompLly furnish to Lender receIpts evidencing such payments. Borrower shall promptly discharge any lien which has priority o\'t.:r this Deed of Trusi; prOVided. (hat Borrower shall not he required to discharge Olny such lien so long as Borrower shall agree in writing to the payment of the ohllgalltln secu~ed ~y such lien in a manner acceptable to Lender, or shall In good faith conlest such Iren by, or defend cnfon':l'nlcnt of stich lien In. legal proceedings which operate to prevent the cnfo:cemen( of the lien or forfeiture of the Property or any part thereof. S. Hazard InsursDce. Borrower shall keep the Improvements now eXisting or hereafter erected on !he ProperlY Insured against loss by fire, hazards included within the term "extended coverage'., and such other hazards as Lender may require and in such amounts and for such periods as Lender may require; provided, that Lemkr snail not require (hat the amount of suet. coverage exceed that amount of coverage f~qllired to pay the sums secured by this Deed of Trust. 'The insurance carrier providing the insurance shall be chosen by Borrower subject rn approval by I ~nder: provldeu. that such approval shall not he unreasonab.y withheld_ All premiums on insurance 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. All insurance policies and renewals thereof shall be in form a{;(;eptablc In Lemler and shall indude J. standard mortgage clause in favor of and in form acceptable to Lender. Lender shall h:..l\'c the right to hold the policies and n::ncwals thereof. and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paId premium". In the event of Joss, Borrower shall give prompt notice Lo the insurance carner and Lender. Lender may make proof of loss If not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writ mg. insuranl.:c proceeds shall be appltcJ ttl feS{llfalion or repair of the Property damaged, provided such restoration or repair IS t.:~onomh:ally feasihle ;llld the security l,r 1I1lS Deed of Trust i... not thereby impaired. If such restoratIOn or repaIr is ntH c~:onomically feaSible or if the security of thi" Deed of Trust would be impaired, the insurance proceeds shall be applied 10 the surns st:curcd by this Deed or Trust, vd[h the cxct.:ss. jf any, paid to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender \\ithm :1O day~ from thL' date notice is mailed by Lender to Borrower that the lnsuram:c ..:arner offers tLl scule a chum for II1Suratll;l: benefits. Lt:"IH.Jcr is authorized to collect and apply the insurance prol.:ceds at I.ender's option eIther to reswration or repair of the Property or to the sums secured by this Deed of Trust. Unless Lender and Borrower otherwise ugrec HI wfltlllg, any such applH::aLlon 01 pHKt.:eds {lJ print:ipal shall not extcnd or postpone the due dale of the monthly imtallments referred tl' in paragraphs I and 2 hereof or ~'hangc Iht.: amount 01 such installments. If under paragraph I ~ hereof (he Propertv I" <lC4tllfcd by Lcnder, all fight. title and nHert.::-.t L)f BOffowcr in and to any insurance policies and in and to the procecd~ thereof rcsu::ing from damage (0 the Prnpcny prior h' the ,.lll' or acquisition shall pass to Lender to the exlent of the sums secured by this Deco of Trust jmllledi<Jtcl~ pnol 10 such ~ale ,lr acquisition. 6. Preservafion and Maintenance of Properly; Lea~eholdsj Condominiums; Planned Unit De....elopmenls. Bornm'CI shall keep the Property In gL)lll! repair and "hall Illlt conH1Hl \\'dstC or pl'llllll imp..llrml'1l1 llr d\..'teri,'rdlll111 ,11" !he Properi.) and shall comply with the provisions 01 any Jca~e if this Deed l)f Trust i.., on a leasehold. II this Deed of' Trust IS on <t unit in.1 condominium or a planned unit development. Borrower shall perlorm all of Borrower's ~lbltgallOlls unoer the declaration or covenants creating or governing the condominium l)f phllmcd un!! development, the by~laws and regulation.. 01 the condominium or planned UllIt development. and constituent documents.. If a conuominium or plannl.'u unit dcvelnprm:nt rider is executed by Borrower and recorded together with this Deed of Trust. the covenanls and agreements oj stlch ridel shall be incorporated into and shall amend and supplement the (o\'ell<lllb alld agrt.:clllcnts of this Deed (11 TrU'~1 ;1.<' if the riLler were a part hereof. 7. Protection of Lende~'s Security. It BO,rrov.,'er fads to perform th~ CO\!cnanlS anJ agreement'- (.'ontallll:J in [hi" Deed of Trust, or jf any action or proceedmg l~ commenccd which matcflally afl'ecIs LenJ~r's lJlt~rest in the Property, including, but not limited to, eminent domain, insolvency. code enforcement, or arrangement.'> or pnh.:ceJing:. ill\olvlllg ,I bankrupt or decedent, then Len~er at Lender's option, upon notice, to Horrower, may nl~lke sllch appcar;lnccs. ,Jishur~l: ..,lKh sums and take such action as IS neccssary [0 protect Lcnder.s IntcrCS[, iHcludlOg, hut not lImited Ill. I..hSOlll:'l'll1Cnt 0! reasonable anorney's fees and entry upon ,the Properly 10 make repair:.. If Lender rcquireJ mortgage jn~u~;'lnce ;J~ ;J condition of making the loan secured by thiS Deed of Trusl, Borrower shall pay tht.: premiums rC4uln.:d tt' mallltaul -"ui.:h insurance in effect un-iI such time as the requirement for stich insurani.:c Icrminate~ in Clccordance with BOfflJWcr.... and Lender's wri~ten agreement or applicable Jaw. Borrower shall pay the iJIllounl of all mortgage insurallce pn.:rnjum~ 10 lht.: manner provJded under paragraph 2 hereof. . Any amounts disbursed by Lender pursuant to this p~ragr<lrh 7. v.:jth Interest thereon. "hall becollle adtllti,.ln:d mdebtedness of Borrower secured by this Deed of Trust. Unles~ Borrower and Lender agree 10 01hcr tcum oj paynlcnt. ,>uch amounts shall be payable upon notice from Lender to Borrower requesting payment thereof. anu ~h;d! ht.::..li interc~t fronl Ihe . date of disbursement at the rate payable f,rom time to time on outstanding prin(;ipal under the NOh; unkss rayment. of interest at such rate would be contrary to applicable law, in which event sllch amOUnl~ shall Deal In(i;rc,t al the hlghc:.t ralC permiss.ible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur ali} expense or take any action hereunder, 8. Inspection. Lender may make oryause to be made reasonable clltri,cs UP(!1l <lIhlll'i"pC\:tlGlJ:. oi (he Prup-crty, pfl!\ idcd ~hat Lc~der shall give Borrower notice pnor to any stll.:h iUfJpectlon specifywg rcasunablc -.:;\u.c ihl'rd,)I H.:LdL'd in I cndcr\ mterest In the ProDCrtV.