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<br />B3~i06542
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
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<br />1. hy_of PriDcipal _ hdoresl. 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 Future Advances. secured by tnis Deed-of Trust.
<br />%. P..... for TlW!IO ad 1_ Subject to applicable law or to a written waiver by Lender. Borrower sball 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 &urn (hereIn "Puods") equal to one-twelfth of the yearly - taxes and assessments which may attain priority over .this
<br />Deed oJ Trust. and ground rents on the Property, if any. plus oDe-twelfth of yearly premium instaUments for hazard insurance.
<br />plus one,..twelfth of yearly premium installments for mortgage insurance, if any. aU as reasonably estimated initially and from
<br />time to time by Lender on the basis or assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held In an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said-taxes. assessments.
<br />insUr'dnce premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account
<br />or verifying and compffing said assessments and bills. unless lender pays Borrower interest on the Funds. and applicable law
<br />permits lender to make such a c.harge. 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 unless such agreement is made or applicable law
<br />requires such interest to be paid. Lender shaH not be required to- pay Borrower any interest or earnings on the Funds; Lender
<br />shaH give to Borrower. without charge. an, annual accOllnting o-f the Funds showing credits and debits to.the Funds and the
<br />purpose for which each debit to the Funds was made. TIte Funds are pledged as additional security for the sums secured
<br />by this Deed of Trust.
<br />If the. amount of the 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. s.halJ exceed the amount required to pay said taxes.
<br />assessments. insurance premiums and ground rents as. they fall 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 s.halt 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 mak.e up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment tbereof.
<br />Upon payment in full of all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower any Funds
<br />h~ld by Lender. If under paragraph 18 hereof the Propert~: is. sold or the Property is ~therwise acquired by Lender. Lender
<br />maU apply. no later than immediately pnor (i) the ~ale of the Property or Hs 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. AppIicatioa of Payments. Unless applicable- b", provides otherwise. all payments received by Lender under the
<br />Note and paragraphs t and 2 he-reoC shaH be apphed by Lender first In paymenr of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof. rben to interest payabk on the Note~ then 10 the pnncipal of the Note. and then to interest and
<br />principal on any Future Advances.
<br />4. ~ Liens. Borrower shaH pay all t3'!.es. a\Sc,-'\.ments ,JOll other charges.. fines and Impositions attributable to
<br />the Property which may attain a priority over thiS Deed of Trusl. and leasehold payments or ground rents, if any. in the
<br />manner provided under paragraph 2 hereof nr. if not paid in such manner. by Borrower making payment. when due. directly
<br />to (be payee thereof. Borrower s.hall 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_ furnls.h to Lender receJpts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has pnority over thiS [~ed of Trust; provldeJ. ,that Borrower shall not be
<br />reqUired to discharge :lO)' such lien so long as 8orrower ~hall agree in wflting to the payment of the obhgauon secured by
<br />such lien in a manner accep'.1bJe W Lender. or shali 10 goc'ld faith conte.'it such lien by. or defend cniorcement of slIch lien in.
<br />legal proceedinp which operate to pre\'ent the enlon.."cment of the hen or forfeiture l)f the Property or any part thereof.
<br />5.. RaZIInIlaIIIJ'IUK"f:. Borrower li-hall keep 1he Improvements now eXlsflng or hereafter erected on the Property insured
<br />against Joss by fire. hazards included within the term "C',,;tended c\.lVerage". and \ut:h Of her hazards as Lender may require
<br />and in .such amounts and ror such perttxh as l.ender may t-equlfe: prOVided. (hat Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage reqUIred 10 pay the sum.. secured by Ihls Deed of Trust.
<br />The instirance carrier providing the insurance ..hall he cho,e-n ov Horrower subje-t:t to approval by Lender: provideu.
<br />that such approv;:tl shall not be unreasonably Wfihhdd All premmffis on Insurance policies shall be paid in the- manner
<br />provided under paraarapb 2 hereof or. If not paui in such manner. hy Borrower making payment. when due. I..J. tly to the
<br />insurance carrier~
<br />AU insurance pohcies. and renewals thcre-tH .shall be ltl form 3cr.:cptabk I(~ J ..cnder and ..hall Inelude a standard mOr1gagc
<br />dause in favor of and in form acceptable 10 Lender. Lender shall have the nght to hold the policies. and renewals thereof.
<br />and Borro\\o-er shan promptiy furnish (1,) Lender alt renewal notices and all receIpts of p.lid premllllns. In [he event of loss.
<br />Borrower shaU give prompt notice to !h~ Insurance carner and I ,coder , I.ender may make proof of loss If not made promptly
<br />bv Borrower.
<br />. Unless Lender and Borrower otherWI5e agree- in wntlOg. lO'iuram:e pn"'.::eeds ..hall be- applied 10 re::uoration or repair of
<br />the Property cbmaged. prOVided s.uch ~storation Of [c-p:ur 1\ cJ.;oOt}mK.llly IC3sible and the security of this DL"etl t)f Trust i:-.
<br />not thereby impaued. H \och restoration or repaJf IS not c..:nnnmlCaUy h:a:ilbh: or If the- xecurity of this Deed of Trust would
<br />he Impaired. the tnsurance pr~-eeds s.hali be apphed to the sums secured hy rhis Deed of Trust. wi1h the exces'i, if any. paid
<br />to Borrower. If (he Property IS- abanth)ncd by Borrower, Hr if Borrower fails. 10 respond to Lender withm 30 days from the
<br />date notice n mailed bv l.ender 10 Borrower that the- lfl.s.urao~e carner offers h) settle a claim for insurance benefits, Lender
<br />IS authorized to \.'011<<1 and apply the insurance pH)(:eeds at Lcnder"s option eHher to restoration or repair of the Property
<br />or to the SUJOS ""'u~ by this ~ of Trust.
<br />Unless Lender and Borrower otherwise agree III wntlng, any ~Ut:h applkation of proceeds to prindpal shall not eMend
<br />or postpone the due date- of the monthly instaU~nl$ rderred In m paragraphs I and 2. hereof or change the amount of
<br />$uch lnSlaUI1\C'Dts:. If under paragraph I lot he-ceo! the Property IS a~qulred hv Lender. all fight, title and interest of Borrower
<br />in and to any ins.uunce policies and to and to tM proceeds lhercof re.-lUlling from damage to the Property prior to the ulc
<br />or acquisition shaH pass to lender to the ex.tent or the SU'TlS ~ecured by this Deed of Trust immediately pnor to ~uch sale or
<br />aequisitron.
<br />6. ~ ad _ of Property; Leaoebolds: CoBCiominiums; PlonDed Unit De..lopm.nts. Borrower
<br />..h;tU keep (he Propel'1y in glXld repaIr and -shaH not ~t'tmmlt .....aste l~r pcrrnll impairment or JcteriorOltion nl the Property
<br />;:tOO shall comply with the: proViSionS of any lease If this Deed Qf Trust is on a leasehold. If this Deed of Trust is on a unit in ;:1
<br />condominium or- a, planned unit development, 8<?rrower shall pedorm aU of Borrower's obligations under the declaration
<br />or 'Covenants. creatmg or go-veming the condominium or planned unit development. the by-laws ..od regulations of the
<br />c~inium or planned unii development, and consutuem. document.s. I ( a condominium or plannl-"<I Unit development
<br />rider no executed by Borrower and recorded together with thiS Deed ot Trust. the covenants and agrec.ments of ,'Such rider
<br />shall be Incorporated into and shall amend and supplement the -covenants and agreements ot this Dt.-ro ot Trusl a,:> If the rider
<br />_re & part hereof.
<br />7. ProtectIoII of 1..ea4a"-s Seatrity. If Borrower fails to perform the covenanls and agreements ,-'uot3lned in this
<br />Deed: -of TnlIt. Of :if any action or proo:eding: is commenced which mafcnaUy affec!s Lendet.s iOlerest in the: Property.
<br />lncludiDg.. but ROt Umited to, eminent domain. inwlvency. c~ enforcement. or arrangements or proceeding1 involving a
<br />tJaQkrupt or decedetlt. then Lender at Lender's option, upon noHCC". to Borrower~ r~'ay make such al?pearances.. di-shur~e such
<br />5UIftI and take sut:h action as is no:e:ssary to protect lender's Jflrero.t. includmg. hut nO,t limned \0. j.,hsbur'1.emeot of
<br />~ attorney's' fees and entry upon the Property to make repairs. If L,ender requm~d mongage insurance as .1
<br />~ of ~.the loan secuted ~y this ~ of Trml. Borrower shall pa~ the p:remiutns- required 10 mamtaln ,-uch
<br />i~ in.-dfect until sucb time.- tIS the requtrernent for :'I;uch insurance terminates In accordance with Borrower's and
<br />l......,.~s.Wl"itten a.peeme:at or applicable taw. Borrower shall pay the- amount l1f all m6rtgage insurance premiums 111 the
<br />_ provided undu parqraplt 2 hereof.
<br />.::z amouata diSbursed by t..eftder punuant to lhi:! paragraph 7, wtlh Inlerest tben'oo. shall h~cl1n'e additional
<br />hKie . lW$f of ~r secured by thm Deed of Trm1. Unleu Borrower and Lender agree to other terms of payment. ~uch
<br />_lllh.oll be "",able upon noti<:c from Lender 10 Borrow". requ..ting payment thereof, and shall bear interest from ,h.
<br />date. ot'~~( at the- rate payable trtm1 time to hme on outstanding prmcipa! under the Note unleS-'S payment of lute-rest
<br />at .. nde. would be. C(fIltJ'ary to apphi:.ble law. in wht-ch event ~uch amounts ih.U bear mle'f$t at the high~t rate-
<br />~wtder IIpIlIieable ,.... Nothing """IlUled in ,hi< pa....,1noplt 7 shall require tender to IDcur any expense or take
<br />..,. aotioIl bonuodot,
<br />.. ~ Letldot<. m.y mab Of cauoe to be made r"".",,&hle ent"", upon ami InspectIOn! 01 tbe Property. prtwidcd
<br />that 1Amdet tlIIIl)ive IortOWJu not~ phor to any JUCb lMpCCuon l.pcc,ilYtn, ~"\n-abre -ca\l5e 1heret'Q. rehued to Ltnoet'''$
<br />1ft"" to. t.' rm.-t'f"
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