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<br />83- 006624
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<br />UNIFORM COVENANTS. Borrower and I~ender covenant and agree as follows;
<br />1. Pllymeat of PrlnclpalllJld Inkrest. 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 Adva.,lCes..secured by this Deed of Trust.
<br />j. .......... for T.....lIJId (-.mce. SUbject to applicable law or to a written waiver by Let:der, Borrower .hallpay
<br />10 Lender on the day monthly installments of principal and interest are payable under the Note; until the Note is paid in full,
<br />a sum (herein "Funds") equal to ;me-twelfth of the yearly tax.. and a.....ments which may attain priority over this
<br />Deed of Trust, and ground rents on the Property , if any, plus ODe-lwelflh of yearly premium installments for hazard insurance,
<br />p1usone-lwelfthof yearly premium install.......nts for mortgage insurance, if any, all as'reasonablyestimated initiaUy and from
<br />time- to-time by Lender on, the basis of assessments and bHis 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 />stale agency (including Lender if Let:der is such an institution). Lender shall apply the Funds to pay said tax.........ments,
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying IheFunds, analyzing saidaceOunt
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds: and applicable law
<br />permits l..ender to make such a charge. Borrower and 'Lender may agree in writing at. the time of ~tion-- of,-this
<br />Deed of Trust that interest on the Funds shall be paid to Borrower, and unless such agreement is made, or applicabl~ ,'law
<br />requires such interest to be paid. Lender shall not be required to pay Borrower any interest or earnings dn the_ Funds. Lender
<br />shall give to Borrower~ without charge. an,annual accounting of the -Funds showing credits and debits to the 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 the amount of the Funds held by Lender. logether wilh the future monthly installments of Funds payable. prior to
<br />the, due dales of taxe!-, a'1iSeSSMents. insurance premiums and ground rents, shall exceed the amount-required-to' pay'said taxes.
<br />assessmentsj insurance premiums and ground rents a-s they fait 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 shan not be sufficient 10 pay taxes. assessments, insurance premiums and ground rents as they faU due~
<br />Borrower shalt pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice -is mailed
<br />by Under to Borrower requestiug payment thereof.
<br />Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Property i\ sold or the ProperlY is otherwise acquired by Lender.- Lender
<br />maJJ apply. no later than immediately pnor to the sale of the Property or its acquisition by lender. any Funds held by
<br />Lender at the Hme of application as 3 credit against the s-ums secured by this Deed of Trust.
<br />3w Application of Payments. Unlc'\s applicable la\I,.' pn.wides otherwise, all payments received by lender- under the
<br />Note and paragraphs I and 2 hereof shall be applied hy Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof. [hen to tnterest 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. Borro.;ver shall pay all la,xes. assessments and (lther charges. fines and impositions auributable to
<br />the Property which may attain a priority over rhis 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 makirg 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 Borl"QWer shall make payment directJy, Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower sba11 promptly discharge any lien which has pnority over this Deed of Trust; prOVided. that Borrower shall not be
<br />required *.0 discharge any such lien so long as: Borrower \hall agree in writing to the- payment of the obligation secured ~y
<br />such lien In a manner acceptable to Lender, or shallm good tanh conlest such lien by, or defend enforcement of such lien In.
<br />legalProu:::~ wruch operate to prevent the enforctment of the lien or forfeiture of the: Propeny or any pari thereof.
<br />5. I~~ Borrower ~han keep the irnpro..'cments now C'-IsllOg or hereafter erected on Ihe Property ins.ured
<br />against lass by tire. hazards included within the term "extended J..'overagc", and s.uch olher hazards as Lender may require
<br />.and in such amounts and for such periods as Lender may require: provided, that Lender $haJl not require that the amount of
<br />such co\'et'age -exceed that amount of covrrage required to pay the $um~ secured by thIS Deed of Trust.
<br />The- if1$urancc: carrier providing the Insurance '\hall be cho~n hy Borro-'wer subjecl to approval hy Lender: provided
<br />that such approval sbaU not be unrea.woa.bly withheld, All premiums on Insurance policies shaH be p3ld in the man..
<br />provided under panllUph 2 hereof or, if not paid in such manner, by Borrower making payment. when due, dIrectly to tLe
<br />insurance carrier.
<br />."11 Insurance pohcie$.and renewal!. [he~(l' -shall be In form a.;ceptable to Lender and ~hall indude a standard mortgage
<br />clause in iavor of and in form ac-eeptlilblc: to Lender. Lender ..hall have the fight 10 hold the policies. and renewals thereof.
<br />and Borro\\."ef sh~H promptly 'l.:'mish to lender all renewai n()rit:e~ and all receipts of paid premium5. In the event of loss,
<br />Borrower shall gIVe prompt ooth:C to {he msuranc~ \~arner ;mJ Lender. lender may make proof of loss II not made promptly
<br />bv Borrower.
<br />- Unless Lender and Borro'k1::f ntherWtSi:- agree in wntlOg, IOSuratH:e pn)ceeds sh~\1l be applied to restoration or repaIr of
<br />the. Property, damaged, provided such ~toratlon or, rcpa,r I\, ct:t:lfloOllcOilly fe~15,ihle ~n-d the securiry of ihis Dt.--eu lJf Trmu i~
<br />not thereby Impau'C'd., If such restoration or repair l~ m){ economically fea'-Slble or It the secuflt)' of this Deed of Trusl would
<br />be impaired. the Im.-uram:e: proceeds. shall be applied In the $ums secured by this Deed of TruE!. with the excess, If any, paid
<br />to Borrower. If lbe Property i~ abandt."lftt':d by B\')f'"wwer, t~r if BOfr('lwer fails. 10 respond to Lender within 30 days, from the
<br />~at-c notk"'e n mailed by l.ender to Borrower that the Insurance carner offers to settle J claim for insurance hcnefit~. Lender
<br />IS authorized to collect -and .apply the inSUr31'k."e pn;u,,~s at Lc:;nder's "(Hion either to re~toratlon or repair of the Property
<br />or 10 the lUrns secured bv thi, Deed of Trust.
<br />Unless lender and Borrower otherwue agree ,n writing. any such appiicatlon of proceeds to principal shall nOl extend
<br />-or ~tpone the due date of the: DlQnthly in\'itaUmenls rettrred to in, paragraphs ,I -and 2. here~f or c~nge the amount of
<br />such installments. If under paragraph t S hereot the Property I!. acquired by l,.ender. all nght, title and HHerest of Borrower
<br />In aDd h),ao)' in$ur.nee policies and in and to lhe proceeds thereof resuhmg rrom damage .to the. Propeny prior 10 the ~ale
<br />or acqUiSdion ~h.1I pass to Lender to the C.\tenl ot the lriUflU s.ecurcd by this Deat 01 Trust Immediately pflor (0 slIch sale or
<br />acquisition.
<br />6. .............. Md MaiaIeaanc:~ of I"roperty: UtieIooIds; Condominiums; Planned Uni. t>enlopments. Borrower
<br />,hall keep the Properl)' In good repair .HUj ""hall not i.:OOlOlH """,SIC ur permIt unpaument or d('(crior,tllon of the Property
<br />..00 -shall comply with the provisions of any lease .if this Deed of Trust is on it leasehold. If this Deed of Trust IS on a untt In ,iI
<br />condonunium or .1. planned untt development, Borrower shall ~tform .111 of Borrower's. obligations under the declaration
<br />Of" co~nts crntmg Qr govemlOg the ,,-ondommjum or planned uml development. ~he by~taws and regulauons ()f the
<br />\..~ftium 0{' planned untt dcvtlopmcnl. and c01l$tl.'ucm _ d(..l(:uments. If a c,ondominium or planned unit development
<br />rider JS executed by Borrower -and recorded tvge-ther wun thiS Deed ut Trust, the- covenants and agreements of such rider
<br />,mati be -incorporated inlo and shall amend and :supplement the CO\-'enanb and agreements of this I)eeiJ of Trml as. If the ridcr
<br />were a part hereof.
<br />7. ........ 01' ~ Security. If Borrower (ails to perform the ,-'Ovenants and agreements contained in thi~
<br />Deed of Trust, Of' if an)' action Of proc:eedin-g is commenced which ma1crtaUy affects Lender's inlefC$t in the Property,
<br />IndudiDJ. bU1 not limited to. e-miDent domain. IIlsolv-t'RCy. code enforcement, -or arrange-menb or proceedings involYing a
<br />bankrupt or decedent. tbe" Lender at Lender's option,.. upon noclce 10 Borrower. may make such appe.arances. disburse ~uch
<br />1iU'IPS and tak,e sud1 action as is necessary to prOlect Lender's Interest, including, hur not timired to, disbursement of
<br />TCalQtQ.lWe .nomcy.' fees ..oct entry upon lhe Property to make repairs. If lender required mortgage insuran~e ;1~ a
<br />cectdilJoft of .r.nakina tb;c' loan -secured by this ~ of Trust, Bo-r,rower shali pa~' the ~lemiums required to maintain :o.uch
<br />i~ in effect until such time as- the requ-.rement for such lO$Uranl;C te011lnales In accordance wllh 80ff('Wef'S rlnd
<br />Lcoder.... Wri~ ~ or applicable Jaw, Borrower shaH pay the amount of all mortgage insurance premiums in lhe
<br />"'- ptOVided IlIlder ~ 2 hereof.
<br />Afty aftlOWItI- d~, by l,...ender p\lBU&Bt to thiS paragraph 7. With inh:re:st thereon. shaH h<<:ome ddditional
<br />il1.1flbu h ut,of ~-.eeured ~y ihil. Deed of TI"laL Unless Bor-rower and Lende-r agree to other terms of payment, such
<br />_Iball be pII,..,ble upon noh.. from lender to Borrower "'q"",ung payn>ent lhereof. and .hall bear !Oteresl from Ihe
<br />... of ~_. the- rate: payable {-rom dtnlt to. .Lime ()t'I out5tanding pnncipal under the No~e un1eu payment 'l,."l( intcrc!$l
<br />at -.ch .... would be cont,..., to aJJI!Uc.able- taw, _m wht-Ch even.t <meh atl'IDunh _\hall bear ,"Itl~r at Ihe ht,he!(l( nue
<br />............ undtt &pIllicable la..., Notbin, conlAined in th.. paraarapb 7 shall require tender to ",.;ur .ny e.pen... or take
<br />..., - "--'1<<.
<br />a.., ~ l~ may mMc or ('--4U$1 to M madt< reuona.t4e entnn upon and in:if)eCtioos of the Property. pnwjded
<br />t.... ....... thd aWe ~ ~ -ptlm' to any ~~.h. .nspcc:t~oo lIpec:ltyt-ng RM(''Inab-lc c-au$e therefor relatffi io Lctldcr'!',
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