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83- 006595 UNJFORM COVENANTS. Borrower and Lender covenant and agree as follows: J. P.,._ of PriaclpOlllUld IDle...,. Borrower shall promptly pay wheo due Ihe principal of and interest on the indl:bt,edn....,evidenced by the Note; prepayment and lale charges as provided in the Note, and the principal of and interest on any Ftlture Advances secured by this Deed of Trust. %. Fndtofor 1''''''' _~ Subje<:tto applicable law or to a written waiver by Lender, Borrower shall pay to. Lender on the day monlhly installments of principal and. interesl are payable under the Note, until the NOleis 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 renbon the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance. plusone-twelfthoLyeaTly premium installments for mortllage insurance. if any. all as reasonably estimated initially and. from time 10 time by Lender on the basis of ......ments and. bdlsand reasonable estimates thereof. The Funds shall be held in an institution the deposits or accounts of which are ins=d or. guaranteed by a Federal. or state agency (including Lender if Lender is such an institution), Lender shall apply the Funds to pay said ta"e.. assessments. insurance premiums and ground rents, Lender may not charge for su holding and applying the Funds, analyzing said account or verifying and compiling said assessments and bills. unless lender pays Borrower interest on the Fund>; 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 shall he paid to Borrower. and unless such- agreement is made or.applicable-Iaw requires such interest to be paid. Lender shall not be required'to pay Borrower any interest or earnings on the Funds;,Lender shalt give-to Borrower. without charge. an. annual accounting of the Funds s.howing'credits and debits to the -Punds...and the purpose for which e<lcl1 debit to the Funds was made. The Fonds are pledged as additional security for the sums secured hy this Deed of Trust. [[ the amount of the Funds held by lender. together with the future monthly installments of Ronds. payable prior to the due ~tes'of taxes, assessments. insurance premiums and ground- rents. shall ex.ceed the amount requir-ed_to'pay said taxes. assessments. insurance premiums and ground rents as they fall due, such excess shall be. at Borrower!s option,- either. promptly repaid to Borrower or credited to Borrower on monlhly installment. of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes., assessments. insurance premiums and, ground rents' as they fall 'due. Borrower 'mall--pay to Lender any amount necessary to make up the deficiency within 30 days from the_date notice- is mailed by u..der to 8orrower requesting payment tbereaf. Upon payment in full of all sums secured by IhlS Deed of TruSl. Lender shall promptly refund to Borrower any Funds held by lender. If under parag~h 18 hereof Ihe Property IS sold or the Property is otherwise acquired by Lender. lender shall apply. no later than immedIately poor 10 the sale of the Property or its acquisition by Lender. any Funds held by lender at the time of applieation as a credit against the sums secured by this ,Deed of Trust. 3. Application of Payments:. Unless applicable law provides otherwise. all payments received: by Lender under the Notcand paragraphs I and 2 hereof shall be applied by lender first in payment of amounts payable to lender by Borrower under paragraph 2 hereof. then to intere.cot payable on the Nore, then to the prinCipal of the Note, and then to interest and principal on any Future Advances. 4. Ctaarces; LieDs. Borrower shaH pay all taxes. assessments and other charges.. fines and impositions aHributable to the Property which may attain a priority over !his Deed of Trust. and leasehold payments or ground rents. jf 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 ~rompdy furnish to Lender an notices of amounts due under this paragraph, and in the event .Borrower shall make payment directly, Borrower shaH promptly furnish to Lender receIpts evidencing such payments. Borrower shall promptly discharge any lien which has. priority over t~i, Deed of Trust; provided, that Borrower shall not be required to discharge any such lien so long as Borr~wer shall _agree m writin~ :0 the payment of the obligatIOn secured ~y 'i-uch lien in a manner acceptable to Lender. Of shall In good faIth conlest such hen by. or defend enforcement of such lien m. legal proceedings which operate to prevent the enforcement of the Ii~n or forfeiture of the Property or any part thereof. S. HaDnt l.....-.ace. Borrower shall keep the Improvements now eXisting or hereafter erected on the Property insured against Joss by fire~ hazards included within the lerm '\~:\tended coverage". and such other hazards as l.ender may require and in such amounts and for $uch perJ(xls as Lender may require: pro\'lded. lhal Lender shall not require that the amount of such coverage exceed that amount of coverage reqlllred 10 pay the sumlJ. secured by this Deed of TmSL llle insuranc-e carrier providing the insurance shaU be cho..en by Borrower subject tt1 approval by Lender. "vldeo. tlult sucb approval sbaU not be unreasonably withheld. All premiums on insurance policies sha!l be paid in the manner provided ui1de! pa.ra.grapb 2 hereof or~ if not paid in such manner, hy Borrower making payment, when due. direcUy to the Insurance carner. An insurance policies and renewals thereof shaU be In form acceptabk h\ Lender and shaH include a srandard mortgage clause in favor of and in form aC\.-"1:ptable to lender. l.coder sh~1J have the right to hold the policies and renewals thereof. and Borrower shall promptly furnish to Lender aU renewal o\.'Jtices and ~1I receipts of paid premiums. In the evenl of loss. Borrower shall give prompt notIce w the Insurance carner and Lender. Lender may make proof of loss: if not made promptly by Borrower, Unless Lender .and Borrower atheN'ise agree in writlfig, Insurance proceeds shall be apphed to restorallon or repair of the Property damaged, provided such restoration OJ repair 1$ t;.;onomlcaily feaslhle and the security of this Deed of Trust is not thereby impaired. 1f such feS-loratlOn or repair is nat economically feaSible or if the security of this Deed of Trust would be impaired. the insurance proceeds shall be app-ti-ed (0 the sum... secured by this. Deed of Trust. with the ex.ceo.5S, if any. paid to BolTtlWef. If the Property is abandoned by 8orn.."lwcr. i.)r if Borrower hils to respond to Lender within 30 da.vs from the date: notice. is. mailed by Lender to Borrower that the l(1sunmce carrier I,)tfers to setUe a dalm for insurance benefits. lender is authorized to coUec:t and apply the insurance proceeds at lender's option either to restoration or repair of the Property or to the .urns secured bv this Deed of Trust, Unless Lender and Borrower otherwise agree: In wl"iting. an)' such applieDlion of proceeds to principal shall not extend or postpone the due date of (he monthly Installments referred to III paragraphs 1 and 2 hereof or change the amount of ~uch im:caUmen~, If under ~faph. 18 hereoi the Property IS- acquired by Lender, all right. title and interes,t of Borrower In and to aoy insurance policIes and to and to the, proceeih thereof resultmg ffOm damage ,to the Property prior to the sale or acqUisition shall pass t....' Lender 10 the tl\tent ot the sums secured by thiS Deed of Trust Immediately pnor to such sale or acquisition. 6. ~ _ M.......... of Properly; le_holds; Condominiums; Planned Unit l)evelopments. Borrower ,hall keep the Propcny in good repair and shall m'}t (,:~lf1mllt '<'-<ute or pcrmll impilirment or dctcrioratkm of the Propeny .too shall comply with the provisions of any lease If this Deed of Trust lS on a leasehold, If this Deed of Trust is on a unit in n condominium or a _ planned unit development. Bor~owcr shall pedorm all of Borrower's obligations under the dedaration or CO\'eDants creatmg or governing the condommlum or ptanned unit development, the by-taws and regulations \,If the ~' Of plalw.ed unit de,,-elopment, and constituent documents. If a condominium or planned unit development nder is. aec-.--.!ted by Borrower and recorded t<>getbe. with this Deed of Trust. the covenants and agreements of slIch ridel' shall be i-ncorporated into and shall amend and supplement the covenants and agreements of Ihis Deed oJ Trust a~ if the nder we", a part hereof. 7. Protediea of L.tIIder'a Secvrity. If, Borro",'er fails to perform the covenants and agreements contalOed in Ihis Deed of TtuIl. or jf any action or ~fRg is t-ommenced which materially aff<<ts Lender"s interest in the Property. Indudina. but not. limited to, ermnent domain. insolvency,. code enforcement, or arrangements or proceedings involving a bankrupt. or decedent. then Lender at Lender.! option~ upon nOlice_ to Borro,wer. ':lay make such appearances.. dishurse such $UftII and tate such action as i5- necessary to protect Lender's Inlc-rest IOdudm&, but nO.1 limited to. dlsbursemenl {)f fCMOBabkt attomcy~s fees and entry upon the Property to make repain_ If ~c:nder reqUtred mongage insurance ~'\ a C1lIIditicm.of II1Uina the loan secured by thIS Deed of Trust. Borrower shall pay ,he premiums required to mainlalO such is:aunoce in effect untilluch time &$ ,be rcquircmeoc for such insurance terminates in accordance Wilh Borrower's imd l..i8ter-~s wriUen a.p:ecmeot or, appW:ab!e Jaw. Borrower $h.aU pay the amouJU of all mortgage insurance prC'mmms in the _ ~ underparapph 2 hereaL AAy __ ditbuned hy lender punuant to Ihis paragnoph 7, "',lh IOterest thereon. ,hall heeome addilional i~ of ~ sea..... by tm. Deed of Trust Unless Borrower and Lender agree to other lerms ot paymen'. such .- olWl be ~ upon llQ(i<:eJrom lender 10 Borrower requesung paymenl thereof, and shall bear ,nter..t from .he d:Mc-of-~_. the:...- payable from time to time on outstanding pr~nclpal under the Note unless paymenl of inlere~t at. ... ,.... ~ be ":ODtrary to apphcable law. in wht<:h event ~uch amounts shalf bear Internl at the highest rate ~ under applicable law. NOlhin. contained in lh.. paragraph 7 ,hall r<<luire lender to incur any ..pen.e or take _ 8dioA............. ... ............ l.cadu mal' ~c Of (;4.UK 10 be mg, teAS4.)nable c~tflC'i: upon and ins.pection~ of the Property, pf{Hrii.kd thad ~ ~ &pe- Borrower nottCe -pI1or to sny .ucla inspectmn ipccdyin, re-uot1able ,aUK therefor related In I_cnder's ,_'nlhe~.