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<br />83-006100
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<br />UNIFORM CovENANTS. Borrower and Lender covenant and agree as follows:
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<br />1. hyment of Prindpal aDd Inlerftt. Borrower shall promptly pay when due the prineipal of and interest on the
<br />indebtedness evidenced by the Note. prepayment and latc charges as provided in the Note, and the principal of and interest
<br />on-any Future Advances secl.lred by this Deed of Trust.
<br />%; F'lnHIs for T...... .... 1_.... Subjecllo applicahle law or to a written waiver by lender, Bnrrower shaJlpay
<br />to Lender on the day monthly instaJlments or-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,' this
<br />Deed of Trus't. and ground rents on the Property, if any, pIllS 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 or assessments and bills and reasonable estiinates thereof.
<br />The Funds shall be held in an institution the deposits. or accounts or 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' accotint
<br />or-verifying and compiling said assessments and bills. unless Lender pays Borrower interest on the Flmds and applicable Jaw
<br />permits lender to make such a charge. Borrower ~md 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 />shan give to Borrower. without charge, an annual accounting of the Funds showing: credits and debits to the Funds and the
<br />purpose for which eaeh dehit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />hy 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 as Ihey f<lll 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 amo!~nt of the' Funds.
<br />held by Lender shall not be sufficient to pay taxes. assessmeOCs, insurance premiums and ground rents as they fall due.
<br />Borrower shall pay to lender an)' amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by lencler to Borrower requestiog payment thereof.
<br />Upon payment in full of aU sums secured by this Deed of Trust. Lender shall promptly refund 10 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 immed18tely prior to the safe of the Property or ~ts 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. ApplicatioD of Payments. Unless applicable l.ilW provides otherwise. aU payments received by lender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied hy 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. Cllas'Jes; 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. jf 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 stich payments.
<br />Borrower shaU promptly discharge any lien which has priority oYer this Deed of Trust; provided. that Borrower shall not he
<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 Jien in a manner acceptable to lender. or shall in good faith contest stich lien by, or defend enforcement of slIch 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. Hazard IlI5Uraatt. Borrower shall keep the improvements now exisfing or hereafter erected on the Property insured
<br />against loss by fire. hazards included within the term "extended coverage", and s.uch 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 Ihls Deed of Tm~t.
<br />The insurance carrier pro~iding the insurance shall be chosen hv Borrower subject to approval by l.cndl;r: provided,
<br />that sueh approval shaH not be unreasonably withheld. All premiulfls 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 and renewals thereot shall be in form acceptable 10 lender and shall include a standard mortgage
<br />clause in favor of and in form ac("eptablc to Lender. Lender shall have Ihe right lO holJ the policies and renewals thereof.
<br />and Borrower shan promptly furnish to lender all renewal notices and an rct:eipls of paid premiums, In the event of los-'\_
<br />Borrower shall give prompt notice to the insurance t,;<lrrier and Lender, Lenuer may make proof of loss if nut made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance prtli.;ecds ~hall be applied to restoration or repair of
<br />the Propcrty damaged. provided such .resloralion or repair is economICally .feasible and the security of this Deeo of Trusl is
<br />not thereby impaired. If such restoratIon or repair is not economically feaSIble or If the security of this Deed of Trllst would
<br />be impaired, the insurance proceeds shall be applied 10 the sums secured by Ihis Deed of Trust, with the c:~;ccss. if any. paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Horrower f.lils to respond to Lender \vithin 30 days from the
<br />date notice is mailed by Lender to Borrower lhat lhe insurance carner olTers 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 Propeny
<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 exlend
<br />or postpone the due date of the monthly instailments referred to in paragraphs 1 and 2 hereof or <.:hange the amount of
<br />such installments. If under paragraph IX hereof the Property is. .icquircd 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 acquisilion shall pass to Lender to the ex.tent of Ihe sums secured by this Deed of Trust immediately prior to such sale or
<br />acquisition.
<br />6. Presen'atioa and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Ue-velopments. Borrower
<br />shall keep the Propcny in good repair ;'lOd shaH not commit wasl~ (lr f)l'rmu impairment or deterioration of lhe Property
<br />and sball comply with the provisions of any lease if this Deed of Trust is on a leasehold. If this Deed c.f Trust is on a unit in a
<br />condominium or a planned unil development, Borrower shall petform allot 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 (,.'ofiStituent documents. If a condominium or planned unit development
<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 Ihe covcnanb ami agr~clllcnts of this Deed of Trm.l as if the ridc-r
<br />were a part hereof.
<br />7. Protectioa of Lender's Security. If Borrower fails to perform the covenants and agreements ('ootaioed in this
<br />Deed of Trust, or if any action or prOCt.~ding is commenced which materially affects Lender's interest in the Property.
<br />inclu4ing. but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proc;ccdings involving"
<br />bankrupt or decedent, then Lender at Lenders option, upon notice to Borrower, may make such appearances, disburse such
<br />sums_ and take such action as is necessary to protoct Lender's inlere~t. including, hut not limited to, disbursement of
<br />reasonable_ attorney's fees. and entry upon the Property to make repair~. If Lender required mortgage insuranc.;c :1\ ;.\
<br />condition of making the_ loan secured by this Deed of Trust. Borrower sh~H pay Ihe premiums re4uired to maintain :>lH.:h
<br />iftSl.ltafiCC in effect uneil such time as the requirement for s!Jch insurance terminates in ;'lccordancc wilh Horrvwcr's and
<br />LeDder's wri.Ueu_agreeplent or applicable Jaw. Borrower shall pay the amount of all mortgage insurao1;c premiums ill the
<br />manner provid~ under paragraph 2 hereof.
<br />Any amoun_~ di.bursed by Lender pursuant to this pamgraph 7, wiJh interest thereon, shall nCCOfnC additi\m;l'
<br />indebtedness of Borrower se<:ured by this Deed of Trust. Unle~ Borrower and Lender agree to oth~r tern\s of payment, ."uch
<br />am.o~~ts.$~n be _payable upon notice from Lender to Borrower requesting payment thercof. and Sh;lll hear interest from thl'
<br />date of ~mmenlal the fate payable from time to time on outs.tanding principal under the Note unless payment i.)f interest
<br />at .such- rate would be c.p-ntrary to applicable law, in which event !'ouch amounls shall bear interest ~lt the high!.':st nUe
<br />pcrmita,ible under applicable law. Nothing contained in this paragraph 7 soall require Lender to incur any ~xpense t'r take
<br />any acti<>n hereunder.
<br />.. ~tkm... Leudel' may make or ~ause to be made reao;onable cntoe-. upon JfH.i impccrjol1s of" the Prop.;rt)', PH.)\- idi..~t!
<br />!hal Lender i:hall-live Borrower notice- prlor to allY s.uch inspection s.pc.cifying realioonablc cau.sc therdo-r relarcd III l.ender':-
<br />'ntereot in !heProocrtv.
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