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I" 83......1)06257 UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: t.. Payment of 'Prin~ip" 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 p!<',wided in the Note. and the principal of and "interest on_ any. Future Advances secured by this Deed of Trust. 2. FondS for T"".. amIlnsnnlllCe. Subject to applicable law or to a written waiver by Lender. Borrower shall pay to Lender on the dBY monthly installments of principal and interest are payable under the Note, until the Nottds paid in full, a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may _ attain priority over this Deed of Trust, and ground rents on the Property, if any. plus'one-twelfth of yearly premium installments for hazard.insurance; p~u~ one:-twelfth of yearly premium installments for mortgage insurance, if any, all-as reasonably- estimated -initially' arid fro~ 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 pf which- are- insured- or guaranteed- by a Fe<ienil ,or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes;,- asse~m-enlS~ insura.,ce premiums and ground rents. lender may not charge for so holding and applying the Funds, an~lyzing said account or verifying and compiling said assessments and bills, unless Lender pays Borrower interes,t on-the-,Punds and applicable,,'law permits Lender to make such a charge. Borrower and lender may agree in writing at the time of - execution. of- - this Deed of Trust that interest on the Funds shaU be paid to Borrower, and unless such agreement is made or 'applicabl~_ law requires such'interest to be paid, Lender shalf not be required to pay Borrower any interest or earnirig~_,on the Funds~ - Lende,r shall give to Borrower, without-charge. an. annual accounting of the- Funds showing credits and debits to the Funds-and.-,the purpose for which each dehit to the 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 mont~ly installments of Funds payable prior to the due d~tes of ta~es, assessments, in~\1rance premiums and ground rents, shall exceed the amount required to'pay said taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall be, at -Bof.l'ower's optio~~ either promptiy repaid to Borrower or credited to Borrower on monthly instaiimenrs of Funds. If the amount of the Funds held by Lender shaH not be sufficient to pay taxes. assessments, insurance premiums and ground rents as - they fail 'due. Borrower shall pay to lender any amount necessary to make up the deficiency within 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 the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later than immediately prior (0 the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Deed of Trust. 3. Application of PaymeDt~ Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrowt-r under paragraph 2 hereof. then to interest payable on the Note. then to the principal of the Note, and then to interest and principal on any Future Advances. 4. Charges; Liens. Borrower shaH pay all taxes, assessments and other charges. fines and impositions attributable to the Property which may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any, in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the payee thereof, Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the event Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Deed of Trust; provided, that Borrower shall not be required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by such lien in a manner acceptable to Lender. or shall in good hith contest such lien by, or defend enforcement of slIch lien in. legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof. 5. Hazanl InsuraD<<. Borrower shall keep the improvements now existing or hereafter erected on the Property 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 Lender shall not require that the amount of such coverage exceetfthat amount of coverage required to pay the sums secured by this Deed of Tmst. The insurance carrier providing the insurance shall be chosen by Borrower subject 10 approval by Lender: provided. that such approval shall not be unreasonably 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 acceptable to Lender and shall includ..: a standard mOTlgage clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof. and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss. Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if nol made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, provided such restoration or repair is economkally feasible and the security of this Deed of Trust is not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Deed of Trust would be impaired, the insurance proceeds shall be applied to the sums secured by this Deed of Trust, with the excess, if any, paid to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date notice is mailed by lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, lender is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property or to the sums secured by this Deed of Trust. Unless lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of such installments. If under paragraph I ~ hereof the Property is acquired by Lender. all right, litle and interest of Borrower in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale or acquisition shall pass to Lender to the extent o[ the sums secured by this Deed of Trust immediately prior to such sale or acquisition. 6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower ~hall keep the Property in good repair and shall nOl commit waste or permit impairment or Jcterioration of the Property and .Jiall comply with the provisions of any lea~ if this Deed of Trust is on a leasehold. If this Deed of Trust IS on a unit in .1 condominium or a planned unit development, Borrower shall pedorm all of Borrower's obligations under the declaration or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the condominium or planned unit development, and constituent documents. If a condominium or planned unit development rider is executed by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such rider shall be incorporated into and shan amcnd and supplement the covenants and agreements of this Deed of Trust as if the rider were a part hereof. 7& Protection of LeDder's Security. If Borrower fails to perform the C0venants and agreemenis cot"!.tained in this Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Property, including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower, ma)' make such appearances. disburse such sums and take such aclion as is necessary to protect Lender's interest, including, but not limited to, disbursement of reasonable auomeY-s fees and entry upon the Property to make repairs. If ~ender required mortgage insurance as i.l condition of_making the loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain ~uch insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement_or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in lhe manner provided under paragrapb 2 hereof. Any amQunts disbursed by lender pursuant to this paragraph 7, with interest thereon, shall become additional i~debledness.of BOrrOWl;'f secured by this Deed of Trusl. Unless Borrower and Lender agree to other terms of payment, such amounts shalt be payable upon notice from. Lender to Borrower requesting payment thereof, and shall bear interest from Ihe date ()f,~unement. at the rate payable from time to time on outstanding principal under the Note unless payment llr interest 'at su~h rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate permiu~ble under applicable law. Nothing contained in this paragraph 7 shall require, Lender to incur any expense or take any action hereunder. 1._ J~D. Lender: may make or cause to be made reasonable entries upon and inspections of the Property, provided ~bat uD;dtr shall give Borrower notice prior to any such ins~tion specifying reasonable cause therefor related h.1 Lender', 'nterostln the Prooerrv.