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<br />83-1)06135
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<br />UNIFORM COVENANTS. Borrower and lender covenant and agree as follows:
<br />t. Payment of Prindpal and Inle..... 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 FUJure Advances secured by this Deed of Trust.
<br />2. Funds for Tu... and InSur8llce. Subject to applicable law or to a wrillen waiver by Lencler. 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 full,
<br />a sum (herein "Funds") equal to one~lwelfth of the yearly taxes and - assessments which may attain priority over this
<br />Peed 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 fOf mOftgage insurance, if any, aU 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 shaH be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />stale 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 saia 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 unles.-l) 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 />shall give to Borrower, without charge, an. annual accounting of the Funds showing credits and debits-to the Funds and the
<br />pul'pO!le for which each debit to the Funds w.. made. The Funds are pledged.. additional security fnr the sums secured
<br />by this Deed of Trust.
<br />If the amount of thc Funds held by Lender, together with the future monthly installments of Funds payable prior to
<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 they f~1I 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, 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 Borrnwer requesting payment thereof.
<br />Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly - refund to 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 immedtately prior 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 s~-cured by this peed of Trust.
<br />3. Applk-adon of Payme-nts. 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 to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. CharJ:es; liens. Borrower shall pay all taxes, assessmenfS 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 BOITower 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 such 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 f;:\ith contest such lien by, or defend enforcement of s\lch licn 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 In:suraace. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the ternl "extendeJ l'ovcragc", and such olher hazards as Lender may require
<br />and in such amounts and for such periods as Lemler may require~ provided. that lender shall nol require that the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Deed of Tnlst.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by lender: provided.
<br />that such approval shaH 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 thereol shall be in iorm 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 />and Borrower shall promptly furnish to lender all renewal notices and ~II 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 agrcl" in wntmg, IIlSurancc proceeds ~hall be applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair 1:0. clo.'onomically feasible and the security of this Deed of Trust is
<br />:lot thereby impaired. If such restoration or repair is not economkally feasible or if the security of this Deed of Trust would
<br />be impaired, the insurance proceeds shall be applied 10 the sums secured hy Ihis Deed of Trust, with the excess, if any, paid
<br />to Borrower, If the Property is abandoned hy 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 IIlsurance carrier otTers to settle a claim for insmancc benefits. lender
<br />is authorized to coUect and apply the insurance proceeds at Lender's oplion 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 wriling, any such application of proceeds to principal shaH not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments. Jf under paragraph I H hereof the Property is acquired by Lender, all right, title and inleresl 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.. Presenadon ad Maia.enance of Property; LeasehoJds; Condominiums; Planned Unit Developments. Borrower
<br />'ihall keep the Property in good repair and shall not ('omml[ waste or permit impairment or Jctcrioralion of the Property
<br />and shall comply with the provisions of any Jease if this Deed of 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 redorm 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 />c~d~iniwn or planned unit development, and canStl,tuenl, documents, If a condominium or planned unit development
<br />nder lS executed by Borrower and recorded together with thiS Deed of TruSl, the covenants and agreements of such rider
<br />shall be incorporated inlo and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider
<br />were a part hereof.
<br />7. Ptotectioa of Leaders 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 />incl~ but not limited to, eminent domain, insolvency, cooe enforcement, or arrangements or proceedings involving a
<br />bankrupt or decedent, then Lend.cr at lender's option, upon notice to Borrower, r~ay make such appearances, disburse sllch
<br />sums and lake such action as IS necessary to protect Lender's intereSl, includmg, but not limited to, disbursement of
<br />~bIe, aUo~y's f~ and entry upon .the Property to make repairs. If ~ender required mortgage insurance as a
<br />t:ondiuon of mattns the Joan secured by thIS Deed of Trusl, Borrowa shall pay the premiums required [0 maintain ~uch
<br />insurance in effect until such time as the requirement for such insurance terminates in accordance wirh Borrower's and
<br />~r's writte:n agreement or applicable law. Borrower shalt pay Ihe amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant 1.0 this paragraph 7, wnh interest thereon. shall hecome additional
<br />i-Ddcbted~ oC Borrower $CCured by this Deed of TrUS-l< Unle~ Borrower and Lender agree to other terms of payment, slIch
<br />amountS: IbaH be payable upon notice from Lender to Borrower reque~ting payment thereof, ~H1d shall bear interest frunt lhe
<br />date of ~t at the rate payable from time lo time on outslanding principal under the Note unless payment of interest
<br />at $Ut;h rate 'Would be -contrary to applicable law, in which event -such amOunts shaH bear interest at the highest rate
<br />pcmniss:ible under applicable l.w. Nothing contained in th~, paragraph 7 shall require Lender 10 incur any expense or take
<br />any llCtlOD hereunder.
<br />a.., 11IIIpedioa. tender. may make or i.:ilUSc to be made rea.k?nable, entrses upon and mspeclions of [he Property, provided
<br />lbat Le~r .ball 8-i~(:. Bouower notice prior (0 any $ouch iospt<;:tlOn ipecifytng reasonable- caUf>e therefor rdaled lO l.ender':..
<br />.ntel'lllll 1ft the Prooeny,
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