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<br />83-006112
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<br />UNIFORM COVENANTS_ Borrower and Lender covenant aod agree as follows:
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<br />.1. Pay_nt of Prindpal anti Interest. Borrower shall pr,'",~rly pay when due rhe principal of and intelest 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. Fonds for Tu.es aDd lusul'8IICe. Subject -to applicable %aw or to a "f/ritten 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 fuJI,
<br />a sum (herein "Funds") equal to one~twelfth of the yearly taxes and assessments which may attain priority over this
<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 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 nOl charge for so holding and applying the Funds, analyzing sa:n account
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<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 unJes.~ such agreement is made or applicable law
<br />requires such interest to be paid. Lender shall not be required to pay Borrower any interest Of 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 amounr of the Funds held by Lender, together wirh 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 ta.xes,
<br />assessments, insurance premiums and ground rents as they fall due, such excess shaH be, at Borrower's option; either
<br />promptly repaid to Borrower or credited to Borrower on monthly instal1ments 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 shaH promptly refund to Borrower any Funds
<br />held by Lender. If un~er ~aragraph 18 h~reof the Property is sold or the Pro.perty is. o.t~erwise acquired by Lender, Lender
<br />shall apply. no later than ImmedIately pnor 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. all payments received by Lender under the
<br />Note and paragraphs 1 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 10 the principal of the Note. and then to interest and
<br />pi mcipai 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, jf an)'. 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 aU 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 such payments.
<br />Borrower shaH promptly dic:.:harge any lien which has priority over this Deed ')f Trus~: provided [hat Borrower shall not be
<br />required to discharge any such lien so long as 8~""'o":.~'er ~hall agree in writing tr ihe. .' ~i]l:nt of the obligation secured by
<br />such lien in a manner acceptable to Lender, or sh<tl~ in good faith comest such 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 />5. HazanlIasuraace. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards induded within the term "extended coverdge", 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 />~uch coverage exceed that amount of coverage required to pay the Slims 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 sball not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
<br />provided under paragrapb 2 hereof or, if not paid in such manner, by Borrower making payment. when due, direcrly to the
<br />imuranc:e t:'-ar:rier~
<br />All 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 form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof,
<br />aDd Borrower shall promptly furnish to Lender aU 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 economically 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 Trusr, with the excess. if any. paid
<br />to Borrower. If the 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 (0 Borrower that the insurance carrier offers to seule 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 tbe sums secured by rhis 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 tbe monthly installments referred to in paragraphs I and 2 hereof or change the amount of
<br />such installments. If under paragrapb 18 hereof rhe ProperlY is acquired by Lender. all rigbt. tille 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. Pnlervadon aDd MaiutelUlllCe of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />shall keep the Property in good repair and shall nOl commit waste or permit impairment or deterioration of the Properly
<br />and shall comply with the provisions of any lease if this Deed oi Trust is on a leasehold. If this Deed of Trust is on a unit in a
<br />condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration
<br />or covenants creating or governing the condominium or planned unit development, tbe 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 together with this Deed of Trust, the covenants 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 pan hereof.
<br />7. Pro&edion of Leader's Security. If Borrower fails to perform the 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 />inclwliDI, 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 necessary to protect Lender's inIercst. including, but not limited to, disbursemeni of
<br />rea_sonable attorney"s fees and entry upon the Property to make repairs. rf 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 />ilDl:1aJ1(;C.in effect Until such time. as the requirement. for such insurance terminates in accordance with Borrower's and
<br />Len. deer." w. ri.Uen.~nt.or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paralrapli 2 hereof.
<br />Any amounts. disb~rscd by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indcbt~ncu. of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shan be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interesl from th.
<br />. date of disbunement at !be rate payable from rime to time on out'tanding principal under the NOle unless payment of interest
<br />at such rate would be contrary to applicable Jaw, in which event such amounts shall bear interest at the highest rate
<br />pennjssjble under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or rake
<br />any llCllon hereunder.
<br />&., ~~, Lender may make or cause to be made reasonable -entries upon and inspections Q[ the Properly, prm.-idelt
<br />tbat ~ .l:ball &lye BolTOWe-r notice prior to any li-uch inspection specifying fC'ouonabtc cause therefor related to Lender'!,
<br />interelt in the ProDCrtv.
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