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<br />83"-006280
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />I. Payment of Principal and Interest. Borrower shall promptly pa.y w~en due the principal o.f 3;nd interest .on the
<br />indebtedness evidenced by the Note. prepayment and lare charges as provided 10 the Note, and the pnnclpal of and mterest
<br />on any Future Advancc..; secured by this Deed of Trllst.
<br />2. Fauds for T."es .nd Insurance. Subject to applicahlc law or to a written waiver by l~ender. Borrower shall pay
<br />to Lender on the d:IY monthly installments of principal :lOd interest arc payable under the ~Olc. unlil th~ NOI~ i~ paid in ful.1.
<br />a sum (herein "Funds") equal to one-twelfth of the yearly laxes and assessments ~hlc~ may attam pnonty. over thIs
<br />Deed of Trust. and ground rcnts on the Property, if any. plus onc-twelfth of yearly premlLlm Installm~n(s for .h~z:ard Insurance,
<br />plus. one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated Inltlally and from
<br />time (0 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 arc insured or guaran!ced by a Federal or
<br />state agency (including Lender if Lender is such an institution). Lender shaH apply the .Funds to pay said ta~es, as.sessmcnts.
<br />insurance premiums arid ground rents. Lender may not charge for so holding and applymg the Funds, analyzmg s31.d account
<br />or verifying and compiling said assessments and bills, unless Lender pays Borr~wer l':l~erest on the .Funds and ap~hcablc la~
<br />permits I.ender to make such a charge. Borrower and I.ender may agree m writing at the t,lmc of exccuuC?n of thIS
<br />Deed of Trust that interest on the Funds shall be paid to Borrower, and unl~ss such agreement 15 made or applicable law
<br />requires such interest to be paid. lender shaii not be required (0 pay Borrower any interes.t or earnin$-s on the Funds. lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showmg cr~d.lts and de~lIs to (he 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 thc- amount of the Funds held by Lender. together with the future monthly Installments of Fl!nds payable pflor to
<br />the due dates of taxC1i, assessments, insurance premiums and ground rents, shaH exceed the amount reqUired to pay .sald t~xcs.
<br />assessments, insurance premiums and ground rents 3S they fall due. such excess shall be. at Borrower's optIOn, eIther
<br />promptly repaid 10 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 faU ~ue.
<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 aU sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof [he ProperlY is sold or the Property is otherwise acquired by Lender~ lender
<br />shall apply, no later than immediately 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 secured by this Deed of Trust.
<br />3. Application of Payments. Unless applicable law provides otherwise. aJl payments received by Lender under the
<br />Note and paragraphs I 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. Chal"2es; Liens. Borrower shall pay all t~xes. assessments and olher charges. fines and impositions attributi.lble 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 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 nol he
<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 faith contest stich lien by. or defend enforcement of stich lien in.
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any pari thCicof.
<br />S. 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 "extended coverage", and such other hazards as Lender may require
<br />and in such amounts and for such periods as lender may require; provided. thaI Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Deed of Trust.
<br />The insurance c;lrricr providing the insurance shall be chusen by Horrower suhjcct to approval hy Lender; provided.
<br />that such approval shall 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 (hereof shall be in form acceptable (0 Lender and shall include a standard mongage
<br />clause in favor of and in form acceptable to lender. Lender shall have the right to hollJ the policies and renewals thereof.
<br />and Borrower shall promptly furnish to lender all renewal notices and all receipts of paid premiums. In the event of loss,
<br />Borrower shall give prompt notice to the insurance carrier am.! 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 fe.tsible and the security of this Deeo of Trust is
<br />not thereby impaired. If such restoration or repair is not 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 Trust. with the eXCes.Ii, if any, paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 day~ from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier offers to seUle u claim for insurance benefits, Lender
<br />is.~uthorized to collect and apply the insurance proceeds at lender's option either to restoration or repair of Ihe Propeny
<br />or to the sums secured by this Deed of Trust.
<br />Unless l.ender and Borrower otherwise agree in writing, any such applicalion of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred 10 in paragraphs I and 2 hereof or change the amount of
<br />sueh installments. If under paragraph I N hereof the Properly is a<;quired by Lender, all right, title and interest of Borrower
<br />in and to any insurance policies and in and to [he pro<;eeds thereof resulting from damage to the Property prior 10 the sale
<br />or acquisition shall pass to lender to the ex.tent of the sums secured by this Deed of Trust immediately prior to such sale or
<br />acquisition.
<br />6. Preservation alld Maintenance of Properly; Leaseholds; Condominiums; Planned Unit [)evelopments. Borrower
<br />shall keep the Property in good repair and shall not commit waste l}f permit impairment or deterioration of the Property
<br />and shaH comply with the provisions of any tease if this Decd 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 periorm all of Borrower's obligations under the declaration
<br />or covenants crci.lIing or governing the condominium or planned unit development, the by-laws and rcgulalion!\ of the
<br />condomin~um or planned unit development, and conslituent documents. If a condominium or planned unit development
<br />rider is ex.ecuted by Borrower and recorded 10gether 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 ridcr
<br />were a part hereof.
<br />7. Protection of Lender'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 />including. 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 sllch
<br />sums and take such action as is necessary to protect lender's interest, including, but not limited to, disbursement of
<br />r~sonable atlorn~y's fees and entry upon the Property to make repairs. If Lender required mortgage insurance as a
<br />cond,ition of making the loan secured by- this Deed of Trusl. Borrower shall pay the premiums required to maintain such
<br />insuran(;c ill effect until SUCIl dOle as the requirement for such insurance terminates in accordance with Borrower's and
<br />lenc:ie(s written .agree_menl Or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manlier provided. under paragraph 2 hereof.
<br />Any' .mouQt~ dis,q~rseo by lender pursuant to this paragraph 7, with interest thereon shall become additional
<br />tl1debt~d~ClSi.of Borrower sec:ured .?y this Deed of Trust. Unless Borrower and Lender 3Q-ree to other terms.of paymenl, such
<br />~mou,nts &hall, be. pa;yablc upon n01JC,C from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br />~te. Qf;d~s~ur54;ment at the- rate payabl_e (rom time to .time ~n oLJtstanding principal under the NOle unless payment of interest
<br />at: SlJ~hJ~te. W5>u1d b~.. cor:ttr~ry to apphc.able law, In which event stich amounts shall bear inlerest a.t the hiohe.c;,t rate
<br />=;n::c-:llg~ffh~~.~~~;:lucable law. Nothing contained, in this paragraph 7 shall require Lender to incur any expense -or take
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<br />tNH~. ~hlJMht~i1~ L~nder may m~ke or,causc to be ma~e reas<,?nable e~(ri~s lIpon and inspeclions of the Property, provided
<br />int,e.r..iinof~ ~tO~v,orrower notice pClor to Dny such inspectIon speclfYlOg reasonable Cause therefor reJalcd (0 lcmJe(~
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