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<br />83_ 006265
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. hYmenl of Principal and Interesl. Borrower shall promptly pay when due the principal of and. interest on the
<br />indebtedness evidenced by the-Note, -prep;~yment 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; .."""" for Tax.._ I....rance. Subject to applicable law or toa writ"'n waiver by lender, Borrower shall pay
<br />to Lende:r on the ~ay monthly installments of-principal and interest are payable under the' Note,' unti-I.thc- Note -is- POliti--in fU,JI.
<br />a sum; (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain' priority over thl~
<br />Deed of-Trust, andgrou~d rents on the Property, if any. plllsone-twelfth of yearly premilll~ insrallmcnts for-hazard insurance.
<br />plus one-twelfth of yearly- pre,mium installments- for mortgage'insurance, if any, aH as reasonably estimated initially -and, from
<br />time-'to time by Lender on the basis of_assessments and -bills and reasonable cstim~tes-thcreof.
<br />The-Funds:shaU be held in an institution the deposits or accounts of whj~h arc insured or guaranteed by:a Pe:ueraF(lr
<br />state-agency (including Lender if Lender is stich an institution). Lender shall apply Ihe Funds- to pay- said"ta~cs, asses~mcn(s:
<br />insurance premiums and ground rents. l.ender r"":lY not charge for so holding and applying thc,Fllndt;, <lnalYltng s.uld'acrount
<br />or verifying and compiling said assessments and bilts, unless Lender pays Borrower intcres~ on the Funds and applicable-law
<br />pemlits Lender to make such a charge. Borrower and Lender may agree in writing at the lime of exn:ution ('If.- [his
<br />Deed of Trust that interest on the Funds shall be paid to Borrower. and unless such ag~~rncnt- is -made or applicable- law
<br />requires such interest to be paid, Lender shall not be required to pay Borrower any intereSl or earnings on"the Funds. Le-ndcr
<br />shaJl give to Borrower, without charge, an annual accounting of the Funds showing credits and dehils to the Funds and ,the
<br />purpose fOf' which each debit to the Funds was made. The Funds are pl~dged as additional security for the sums secured
<br />by this Deed of Trust. Un Iform Covenant 2. hereby wai v~d bY LeDder'. .
<br />If the amount of the Funds held by Lender. together with the future monlhly instaHments of Funds payahle prior te'
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount req,uircd-to pay saidtax._~s.
<br />assessments, insurance premiums and ground rents as Ihey fall due, such excess shall he, aL Borrower's option, c_,!her
<br />promptly repaid to Borrower or credited Lo Borrower on monthly installments of Funds. If the ilmount ()f~ 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 shan pay to Lender any amount necessary to make up the deficiency within 30 days from the-date notice is cmailc~_
<br />by lender to Borrower requesting payment thereof.
<br />Upon payment in futl of all sums secured by this Deed of Trusl., Lender shall promptly.refund 10 Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Properly is sold or the Properly IS o.thcrw'se acquired by Lender, Lender
<br />shan apply. no later than immediately prior 10 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.ecured hy this need of Trust.
<br />3. Applkadon of Payments. Unless applicable law plllvides otherwise. all payments recclved by Lender under the
<br />Note and paragraphs 1 and 2 hereof shaH be applied hy Lender first in payment of amollnts. payablc to Lender hy 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. Charges; Liens. Borrower shall pay all taxes. assessments and olher charges. tines and impositions attributable to
<br />the Property which may attain a priority over this Deed of Trust. and leasehold payments or ground renlS, if any, 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 all notices of amounts due under this paragraph, and in the
<br />event Borrower shaH make payment directly, Borrower shaH promptly furnish 10 Lender receipts cvidcm:mg such payments.
<br />Borrower shall promptly discharge any llen which has pnority over thiS Deed of Trust; provided, that Bor.wwer shall nol he
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment t~f the nbl1gallon secured by
<br />such lien in a-manner acceptable to Lender, or shall in good faith contest such hen hy, or defend cnfon.:cmcnt of slIch lien in.
<br />legalt.roceedings which operate 10 prevent the enfo~cement of the lien or forfeiwrc llf the Property or any part thereof.
<br />. HazanlIDSUl1l8ce. Borrower shall keep the Improvements now eXisting or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended coverage", and slIch other hazards as Lender may rt"quire
<br />and In such amounts and for such periods as Lender may require; provided, that Lemler shall not reqUIre (hat the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Deed of Trusl.
<br />Tbe insurance carrier providing the insurance ...hall he cn(\~cn hy Borrower subject 10 approval hy I cntlcr: pro\'ldcu.
<br />that such approval shall not be unreasonably withheld, All premiums on insurance policies shall he paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in s:lch manner, hy Borrower making payment. when due, directly to (he
<br />iDSurance carrier.
<br />All insurance policies and renewals thereol shall be in form ai.:ceptablc 10 Lender and shall include a Sl:,Hldilfd mortgage
<br />clause in favor of and in form acceptable to Lender. L\::nder sh:t1J have the right to hold thc policies and r~newals Ihereof.
<br />and Borrower shaU promptly furnish to Lender all renewal notices and all r~celpls of paid premium":. In the event of loss.
<br />Borrower shall give prompt notice to Ihe insurance carrier allJ Lender. Lender may make proof of loss if nol made promptly
<br />by Borrowet.
<br />Unles..'i Lender and Borrower otherwl~ agree in wrilmg, insurance pn.1Cceds ~hall be applied to rc<;toratiun or repair 01
<br />the Property damaged. provided such reSlOri1lioil or repair is cl.:ononw:ally fca~lhlc ;llld the <;cl"tlrity of Itlls DccJ of 1 rllst i~
<br />not thereby impaired. If such restoration or repair is nOI economically feasible or If Ihe !<.ccurity nf lhl" Dc(,~d of Tru!lt would
<br />be Impaired, the insurance proceeds shaH be applictl to lhe sums. secured by lhis Deed of Trust, with the CXI.:l;'>". if any, paid
<br />to Borrower. If lhe Propert)' is abandoned by Borrower, or if Horrower fails to respond to Lender with III 30 days from the
<br />date notice is mailed by Lender to Borrower that the IOsuranc~~ carrier otTers 10 sell Ie a daun for IOsuraul.,:c henefits, Lenuer
<br />is authorized to collect and apply the insurance pft)ceeds at Lender's opllon cHher 10 rcslOratioll or repair of the Property
<br />or to the sum~ secured by this Deed of Trust,
<br />Unless Lender and Borrower otherwise agree ITl writing, any such apphc;.Hioll of rrol:ceus 10 principal ."hall nol c:>\tcnd
<br />or postpone the due date of the monthly installments referred to 111 paragraphs I and 2 hereof or t:h.\Ilge the amount 01
<br />such installments. If under paragraph I~ hen:ot Ihe Propen} IS <.\l;411lfCd by t.e-nuel'. ail right, tit1c and inlcn':~1 \\{ Bnrnw,:cl
<br />in and to any insurance policies. and in and 10 Ihe proceeds thereof resuhing from damage to the Pruperty prior 10 the ,.,ale
<br />or acquisition shall pa~ to Lender lO the ~.\.tem vf Ihe sums sel.:ured by this Deed ~)f TrU!<.l llnmcdw.tdy pr;(lf t~, ,.,uch sale or
<br />acquisition.
<br />6. Presenation and Maintrnance of Property; Leaseholds: <:ondominiurns; Planned linit I)evt"lopmcnts. Bonw~-\'cf
<br />!i.hall kct:p Ihe Property In goou repair ;.Iud :<.naii not ...-:onWlli .....,lS!l' or pClllllt llnp.wlllL"t\l 1.11' dL'ICfltil';_dil'll \\f the Property
<br />and shall comply with the proVisions of any lease If this Deed of Trust is ,)11 ~ !ea~chold II thi~ Deed of Tru!<.t I~ lm a unit in a
<br />condominium or a planned unit deYelopmcnl. Borro'<o\.:;, shaU pcrJorm ,lil of Borrowcr\ obllgatlon:o. Ilnder. th~ dechu.lllon
<br />or covenants crealing or governing the c\)ndominium ~)r planned unit devclopmcnl, the hy.law~ ~llld regulali'')lh \)1' the
<br />condominium. or planned- Unit development. and conslHuenl doclllllt:n!\. If ,I condominium or pianllC"u Imlt dc\dopmcllt
<br />ri~er is exe-cuted by Borrower and recorded logether wilh this Deed uf Trust. the: co\'cnarHs anJ agrccmenb of ~uch rider
<br />shall be incorporated into and shall amend and supplement the C"o\'cnam:-. ;\llJ agr~cments of this Deed nl Tru~t ;1\ if Ihe ndcr
<br />wen:: a part hereof.
<br />7. Protection of Lender's Security. If BO,Trower fails to pcrf~lrm Ih~ cov~nalH~ and agreement'. C..I\I~II11i..'d in thi"
<br />Deed of Trust, Ot if any action or proccedlOg IS commclli.:cd which matenally alTcets Lenuer's inh:rt:'!lt 10 the Prupetty,
<br />including,_ but not limited to, eminent domain, insol\'e-ncy, cod~ enfon.:emcnl. or arral1gcment~ or pn..Kel.:ding-s. _ involVIng, .1
<br />~ankrupt_or decedenl, then Lender at Lender's option, upon nOllce to Borrower, nlay make such .ippcarillH.:c,>, JI:-.huD,C :-uch
<br />wms and take such action as i~ necessary to protCl.:l Lender"s inkrcs.l. IOduuing, hu: not iimileu to. di\hw.\t:lHcnl oj
<br />r~nable attorney's fees and entry upon lhe Property to make repalr:.. If Lender requlfeJ. mortgage Jlbllr<lIlI.."C ,1\ ,;
<br />CQndiliQn _of m.king the loan secured by this Deed of Trust, BQr_rowcr shall pay tht': premiums required !o mainl.wl ..,\h.:h
<br />iR$.tlrana;_ irLe:fIecl until s.uch time as the requirement for ~w.'h IIlsurancc IcrnH!lalc~ in al.:COrdafH':-c wilh Horrower's .old
<br />Len(kr's W,r;tlen agreement ~.r applic,A_tl1e law. Borrower shall p.ay the amount ot all mortgage ins.uranc,", prcrnium~ in Itw
<br />manner provided under paragraph 2 hereof.
<br />An.}f amQ-Unts d~bu:rsed by _Lender pursuant tu this paragraph 7, wllh llHeres.t thereon, ~h..dJ hc\.'umc lIJdtllonal
<br />lndcbtC4~ Qf Borrower secured by tbis Deed of Trust. Unles~ Borrower ;jnd J cndt;r ~,grc:c tn ,,{her lcrms of payment. :.,ut:n
<br />amf?unt$, !:l-h~lUlC;_ pa_r~blc upon. notice., from Lender to Bt.1frowcr rC4ue').fmg payment thercof, and shall heM IOterc:st ! rom lhe
<br />~te ofdis~u~~ment-at the_ rate pa)'able fmrtltiqte to time (~n out~landing firiheip",l under the NUIC unlc-!<.~ pawneut of iah.m::-!>t
<br />., auc.n_ rate: would, be: contrary to applicable law, in WhH:h e\'en! :;;.uch amount:i shall be.;J.r lnterC"i at -lhc tllghc'It rli(~
<br />pcrmi~~leu~r &ppticabte'ta.w. Nothing ci.-'fitaincd in this paragraph 7 ::.hall n.:qulrc Lender to illl.7UI' iW} (".\pcn~e 0f take
<br />any al'Wln heteunder.
<br />S. 1~~_. tender ma)' make- Of ,,:;au..w- to be made .fC'a~-Onablt;: entries. upon and ;n<,.pt'J."tiom. of thl: PIOj)t-f1Y. pW~"l\"h.:'d
<br />lhal Lender -shaH gh'c Borrowe.r ootict pnOf to- ;lUY such lflspe:c{H)n '\,i'C-dfying r~d.~\mJ.bh.:- (JI,i~t: lht:f("h"11 fd~l-!(:'~l In , t'lhlt-r'.,
<br />interat in tbe Pronertv
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