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<br />83- 00623.2
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<br />UNIFORM COVENANTS. Borrower and lender covenant anti agree as follows:
<br />1. Payment or Principal Dnd Inlerl'!st. Borrower shall promptly pay when due the principnl of and interest on the
<br />tndehtedness evidenced by the Note, prepayment nnd lale chargt... as provided in the Note, and lhe principal of n.nd interest
<br />on any Future ^dva~ces ~ectlrcd by this Deed of Trust.
<br />Z. Funds. for Tuet,and-Insuranec. Subject to appricablc law or to a wrillen waiver by Lender, Borrower shaH pay
<br />to Lender-on lhc'-da>; tnQ:nihJy installments of principal and inlercst are payable lmdcr the !'latc, ,until.. th7 .Not~ i~ J~a_i4-_'h~,'ful.1.
<br />a sum (herein ~'Funas,") equal to onc~t'N.eUlh of the yearly taxes anu i1!isessrncnts WhlCh may ~ll31n prIOrity 'Over',-t1}IS
<br />Deed of Trust"',-and-gr()und rents on the Prot')Crty. -if any,' plus one_~lwclfth of ycarly- premium -installments for hriz~rd'-insu~a~c-c,'-;
<br />p1us'oncHwelCth of yearly premium_installments for mortgage insumnce, if ~ny. all ;:IS reasonably estimated inicially and from
<br />time c() dme.by' Le"'~_er on the basis of assessmcnfs and bilts and reasonable estimates thereof.
<br />The,'F-unds-shaU 'be held in nn institulion (he deposits or accounts of which arc insured or gu:uanleed--by il"FedetiL~r
<br />state'_agcncy (including -:Lcndet if lender is such an institution). Lender shaH- apr>lr the -Funds:to- pay said-taxes~__as.sessrrtents,
<br />insurance prem-.um!; and ground-rents. Lender may not charge for so holding and a_pplying the Funds, -analyzing said)l~c;;~U.l1t
<br />or verifying and compiling said assessments and bitls, unless Lender pays Borrower interest on the Fund's ;1O'd applica-ble,'Jaw
<br />permits Lender to' make such a charge; Borrowcr and Lender may agree in writing al - 'the timc' of exec.urion of' this
<br />Deed- of Trust that intcrcsc on the Funds shall be paid to Borrower, and unless sllch agreement is ~ade or applicable- Jaw
<br />requires such interest to be paid, Lender shull not be required to pay Borrower ,any interest or earning~ on the FU.l1ds~- - Lender
<br />shaH give to Borrower, without charge, an annual accounting of the Funds showing- credits and debits t.o the Funds and lhe
<br />purpose for which each debit to the Funds was made. The Funds arc pledged as additional security- for the surrts secured
<br />by this Deed of Trust. .
<br />If -the amount of the Funds held by Lender, together with the fulllre monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall excced the ~mount rcqt}ired to. pay said-taxcs,
<br />assessments, insurance premiums anti ground rents as they fall one, such excess shClIl 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 sufficicnt 10' p:lY taxes. assessments, insurance prcmiums and ground rents as thcy.f;tltdlJ.~._
<br />Borrower shall pay to Lender any amount necessary fO 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 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 />sh:lIl apply, no latcr than immediately prior lo the s:lle of the Property or ils :lcquisition by Lender., any Funds held by
<br />Lender at the time of appHcation"as a credit against the sums secured by- this Deed of Trust.
<br />3. Application of Payments. Unlc~s appliC<lblc I.tw provides othcr\-\'isc, all payments received by lender under the
<br />Note and paragraphs t and 2 hereof shall be applied by Lender first in payment of amounts paynble to Lender hy 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 />principal on any Future Advances.
<br />4. Charges; Liens. Borrower shall pay :111 t<lXCS, .lsscssments ;lntl 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 duc, _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, thnt Borrower shall not be
<br />rc:quired to discharge any such lien so long ;\s 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 conlest sllch lien by, or defend enforcement of sllch 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, Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />.against loss by fire, hazards included within the term "~xtcndeu ("overage", and such other hazards a~ Lender may requin:
<br />and in such amounts a.nd for such periods :IS- Lemler may rcqui~ ~; provided, thal Lenuer shall not reqUIre that ~hc -amount of
<br />such coverage exceed that llmount of coverage required to pay the sums secured by Ihis Deed of TnISl.
<br />The insurance cartier providing the illsur:lIlCc shall be chosen by Uorrowcr sllbject. to. approval by Lender: provided.
<br />~at such approval shall not be unreasonably withheld. AU premiums 011 insurance policies ,shall be paid in the manner
<br />provided under paragraph 2 hereof or, it not paid in such manner. by Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable 10 Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to LcnJer. Lender shall have thc right to hold the policies and renewals thereof.
<br />and Borrower shalt promptly furnish to Lender all r~ncwal notices and all receiprs of paid premiums. In the event of loss.
<br />Borrower shall give prompt notice to the insurance carrier anJ Lender. Lender may make proof of loss if not m~lde promptly
<br />by Borrower.
<br />Unl(:ss Lender and Borrower otherwise agree in writing, insunlfH.:c proceeds shall be applied to rc~(Oratjoll or repair of
<br />Ihe Property damaged, provided such rcslOrOtltOn or repair is economically feasible :lI1d the security of this Deed of Trust is
<br />not there9-Y impaired. If stich restoration or repair is not economically feasible or If the security of this Deed of Trust would
<br />he impaired. the insurance proceeds shall be applied lO the sums secured by this Deed of Trust, with the excess, if any, paid
<br />to Borrower. If the Prop~rty is abandoned by Borrower, or if Borrower ("ils 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 insllrance benefits. Lender
<br />is authorized to coUect and apply the insurance proceeds at Lender's option either to rcstomtion or repair of the property
<br />or to the s.ums secured bv this Deed of Trust.
<br />Unlc-ss Lender nnd Borrower otherwise agree in writing, :my such application of proceeds to principal sh~1I not extend
<br />or postpone the due date of the monthly installmcnls referred to in paragraphs 1 ;\Od 2 hereof or change the amount 01
<br />such inslallmcnts. If under paragraph 1 S hereof the Property is acquired by Lender, 0111 right. tillc and interest of Borrower
<br />in and to any insurance policies. and in ,lIld to the proceeds thereof resulting frorl) damage to the Property prior to the sale
<br />or l1cquisition shall pass to Lender to the extent of the sums secured by this Deed of Trust immcdiCltcly prior 10 such s:llc or
<br />acquisition.
<br />6. Preservation and MaiDtenance of l'mperty; Lt'3scholds; Condominiums; Planned Unil Developments. Borrower
<br />shalt keep the Properly in good repair <JIlU shull not commit waste or permit impairment or t1ctcrionuion of the Property
<br />a.nd sllal!, comply with. the provisions of any lease if this Deed of Trust is on Ol; IC.lschold. If this Deed of Trust is on a unit in ,\
<br />condominium or a phmned unit development, Borrower sh:111 pcdorm all of Borrower's obligations under the decimation
<br />ur covenants creating or governing the condominium or planned u~it development, the by~laws and regulations of the
<br />eondominium_ or planned unit development. and constituent documents. If a condominium or planned unit development
<br />rider is ~ecuted by Borrower and recorded together wilh thts Deed of Trust. the covenanls and agrCCf)lcnts of such rider
<br />sban be incorporated into and shall amend and .supplement the coven;}nts and ;}grecmcnts of lhis Deed of Trllst as if the rider
<br />were a part hereof.
<br />7. Pmte.ction of Lender's Securily. If Borrower fails to perform the covenants: and agreements contained in this.
<br />Deed_ of TfU$.~" _or if any action or proceeding. is commenced whieh materially <l(fccts Lender's interest in Ihe Property.
<br />il)cluding. .b':ll not limited -fe>, eminent dqmain, insolvency, code enforcement, -or arrangements or proceedings inVOlving a
<br />-ban~-rupt _or, decedent, then Lender at Lender's option, upon oolice to Borrower. may make such appc:lf:lOCeS, disburse such
<br />s~ :an(t-tak~ suc:h_, actiQIl__-aS. is_ ncccssa-ry (0 protect ,Len~er's interest, including. but not limited to. disbursement of
<br />rcasonab~ aUornc,"~ ft;et and__e":ltfY upo~, the Property to make repairs. If l~endcr required mortgage insurance :IS a
<br />cOl.ul~~n_-_~f,ma"i~$-tbc:]~an secured by this ~d of Trust, Borrower shal! p:lj' the premiums required ,~ nuintain 3uch
<br />I_~~,-i~ cIt~1.- UI)tU sueh, tlll1e 3$, -the requiremem for such insurance h:rminates in accordance wjlh ilorrower\ and
<br />L.e~(s:.-w:ritt .~t._-Orap-Plica~le law. Borrower shaft pay the amuunt of all mortga$c insurance prcl11-;ums in lhe
<br />mll\ll1C~ptQvi ~f)lllrap!> 2 he.reof.
<br />'A.lly _*" _ _ .tied by Lender punuant to this paragr~ph 7, with interest thereon. shaH become n.ddjtionnl
<br />indebled~ of Borrower secured ~y this Peed of Trust. Unless Borrower "nd Lender "gree to other terms of payment, such
<br />a~un_lS shilJ1-,ht; payal>>e- upon notice. (rom lender [0 B\.)trower requesting payment Ihereof. Cll\d shall hear interest from Ihe
<br />da~_,()f ~;._~~~etll at_lhq ,rate, pa)'~bte, frqm tiflle, to tim.e (~n outst~ll(ling principal under the NOlc unless payment of interest
<br />at_'~c.h' ratO.,-wov.J~ _be contra'" to -applka.ble: Jaw, in whtch event such amount.'i shalt bear illtcrc~t at the highest rate
<br />~i$sjblo-_~c;-r' appt~"blc-f-aw, Nothing conlAined in Ihis po.rng,raph 7 s.halJ require Lender to incur an)' e~pense or tf!kc
<br />Il!\)" a~tiOjl.Il!:ffill>"~r..
<br />I." f~p* t.-e-~d-cr m._y make {'f ~au$e tQ be made- rC:twnabfe entrie1 upon ;lnd inspccl.ions of the ProperlY, p({)Vidcd
<br />t.bat. ~ndcr .sfwiU,&ju. Born>-we.f noHce: priQr to an)" Kuch im \~lion spe(;ifyitlg r-eas(\ttable Cause thcrcfl,lf rdated to Lcnd-cr's
<br />}t}te.rt1t in the Prol)iOrtY.
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