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r I L I 83- 006626 UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: .1. ~of Pril\clpalaad 10_. Borrower shall promptly pay when due the principal of and interest on the- indebtedness evi~ bY.lhe Note, prepa)'lllCl1t and late charges as provided in the Note, and the principal of and interest on any Future Advances secured by .this Deed of Trust. %: FliBds for TlilllIlI.... 1_. Subject to applicable law or to a written waiver by Lender, BOp-owersbaUpay to Lender on the day monthly installments of principal and interest are payable under tbe Nnte; untiltbe Note is p,lid:in filii; a sum (herein "Funds") equal to .one.twelfth of the yearly taxes and assessmenlswhiehmay attain priority over this Deed.ofTrus\' and ground renlSon the Property, if any, plus one.twelfth of yearly premium installments for hazard insurance, plus ooe-twelfth of )'e3rly premium installments for mortgage insurance. if allY, all as reason:obly estimated initially and from time to tim." by Lender On the basis of ......ments and bills and reasonable estimates therent: The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by aF""IeraLor stateageney (including Lender if Lender is such an instilulion). Lender shall apply the Funds to pay said ta~es. asSC$Sll1ents. insurance premiums and ground rents. Lender may not charge for so holding and applying tbe Funds, analyzing.aideaceount. or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on .the Fimds andapplicablelaw. permits Lender to make.- such a charge. Borrower and,Lender may agree in writing, at'-the rime_- of-,ex.ecutio,!:-_or:this Deed of Trust that interest on the Funds shall be paid to Borrower~ and unless such--agreeme.nt is: made- _or-:aPt!(i~able.- law requiJes .uch interest to be paid. Lender shall nOI be required 10 pay Borrower any interest oreamin~s on: the,'Furidsi. Lender shall give to Borrower~ without charge, an annual accounting of the Funds showing credits and,deblts.to-the'<Funcb_~nd.lhe purpose for which each debit to the Funds was made. The Funds are pledged as additional security for Ihe sumasecured by lhis Deed of Trust. . . If the amount of the Funds held by Lender. together wilh Ihe future monthly installments of Ftmds payable prior to the due. dates of taxes. assessments, insurance premiums and ground rents, shall exceed tbe amount required to pay said laxes, assessments,. insurance premIUms and ground rents as they faU due, such excess _ shall be~ at _ Borrower's orion9' e~ther promptly repaid to Borrower or credited to Borrower on monthly installments of Fumk If the amount 0 the Funds held by Lender shall nOl be sufficient to pay taxes. assessments. insurance premiums and ground rents.. they fall due. Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 day.. from the dale notice is mailed by L:nder to Borrower requesting paymenttbereof. Upon payment in full of ail sums secured by this Deed of TrusL Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph IR hereof the Propeny IS .<>ld or the Property is otherwise acquiTedby Lender. Lender shaU apply. no later than immedtately prior to the sale of the Property or its acquisition by Lender. any Funds held by Lender at the time of application 3$ a credit against the sunu secured by this Deed of Trust. 3. Application. -of Payments. Unless appHcable law provides otherwise. all payments received by lender under the Note and paragraphs t and 2 hereof shall be applied by Lender first m payment "f amounts payable to Lender by Borrower under paragraph 2 hereof, then to interest payable on the Note. [hen to the principal of the Note. and then to interest and principal on any Future Advances. 4. Charzts:: ~ Borrower shall pay all tax~, a~sessments .lOd other charges. fines and impositions attributable to the Property wbich may .ttain a priority over thIS Deed of TrU5t. and leasehold paymen.. or ground rents. if any, in the manner provided under paragraph 2 hereof or, jf not paid in such manner, by Borrower making payment, when due. directly to the payee thereof. Borrower shaU promplly furnIsh to Lender all not.ices. of amounts due u~der this paragraph. and in the event Borrower shall make payment directly, Borrower shall promptly I urmsh to Lender receipts evidencing such payments. Borrower sball promptly dtscha~ any lien which has priority over this Deed of Trust: provided. that Borrow.er shall not be reqmred to discharge any such hen $(1 long as Borrower shaH agree in writing _to the payment of the obligauon secured ~y such lien in a manner a<::c.eptabte to Lender. or :shall 10 good faith conrest sucillten by, or defend enforcement of such lien m. lep.l p~ which operate 10 prevent the ("uforcement of the lien or forfeiture of the Property or any part thereof. 54 IDIIIf'8ft~ Borrower shall keep the Improvements now e.Hstmg or hereafter erected on the Property insured against loss by fire. h.azards included. within the term "e"tended coverage'., and such other hazards as Lender fY'~V require and in such amounts and for such periods as tender may require; provided. that Lender shan not require that the L,. ....unl of <mcb coverage exceed that amount of coverage required to pay the sums- secured by this Deed of Trust. The insurance carrier providing the- insurao_ce shaH be chn-sen by Borr~wer subject t<? appro\'al by L.ender: provided. that such approval shall nol be unreasonably "1!bheld. All premiUms on msurance polic... shall he paid in th, manner provided UDder paraarapb 2 hereof Of. If not paid 10 ,sw;:h manner, by Horrower rnaking payment. when due. directJy to the ioswl..QCe -ean:ies:. AU insurance policies and renewals thereof !ohaU be in form acceptable lo Lender and shall include a standard mortgage clause In favor of and in Conn .a.cccprablc: to Lender. Lender shull have the right to hold the policies and renewals thereof. and Borrower shall promptly furnish to Lender aU renewal notices and aU receipts of paid premiums. In the event of loss. Borrower shall give prompt notice to the Itt!iunlK.'"C ~rrler anu Lender. Lender may make proof or loss It not made promptJy by Borrower. UnJeu lendec and Borrower otherwise agree in wilBng. insurance proceeds shall be applied to restoration or repair of the Property_ damaged. provided ~uch restoration or nep<Sl( IS e,,:o,:\nnHcally h,:,uslble and the security Qf this Deed of Trust IS notthereby impaired. If such re.touuon or repair lS- not ecoOt)mf{;~Uy featuble or tf the security o~ this Deed of Trust wou~d be unpaired. the imurance Pf()(.-ecds shall be applied to Ihe iom~ iecured b~ this Deed of Trust. wuh the_ excess, If any. paid to 1lolTOwcr. If the Property l1 abandoned by ,Borrower. or if Horrower huls. to respond to Lender within 30 days from the date tlOtice ii mailed by lender to Borrower that Ihe Insurance carner oifers to seWe a claim for insurance benefits~ Lender IS authorized to collect and &lpply (be iOIiW'anl."C'- proceeds. at Lender'!\. option euhcr to resroration or repair of the Propeny or to the sums secured by thIS Deed 01 Trust. Unless LCDdef and 8onower otherwi", agree m wriling. any such application of proceeds 10 prmcipal shall not extend or pu!ltpone the due date of tbe nWllthly installments relerted to in paragraphs I .nd 2 hereol or change lbe amount of such installments. If under paragraph 18 hereol the Property" acquired by Lender, .11 rtght, title and inlerest of Borrower tn and to an)' insuran<< policies and to and 10 the p~ thereof resulting from damage to the Property prior to the sale or acquisilion sball f"l"" 10 Lender to the extent of the su"'" secured by .bi. Deed of Trusl .mmediately prtor to sucb sale or acquisilion. 6.. ~....... AM l.tll1l. t:~ of PropeI'tJ; I....easehoIds; (~OItdolll"lianaa; Pl."ned Unit Devdopnte-ats. Borrower ~h;k)l keep the Property In good repair and $haH o-ot l:omml1 waste or pernllf impairment or deterioration of the Property ..ad.shall comply with the provisions of any lease if thlS Deed of Trust IS on a leasehold. If this Deed of Tnl$t is on a unit in a ~um -or a planned unit development. Borrower shall perform aU of Borrower's obligations. under the declaration or c.ovenaIIU cteatina fir governing the condominium or planned unit development. the by~Jaws and regulations of the condomiaiwn or planned unit development. and constituent documents. If a condominium or planned unit development rider is Q.cculed by Borrower and recorded together with this Deed of Trust, the covenants and agreemenb of -such rider sbaII be incorporated int<> and shall amend and supplement the covenants and agteements of Ihi, Deed 01 Trust as if tbe rider were a pall hereof, 7. ~ of I..etMIer's Seearity. If Borrower -rails to perform the covenants and agreenlcnts contained in this Deec1 of Trust, or if any action or proeeedina is comme""ed which malerially .tr"".. Lender's inte....t in the Properly, i~ but DOllirnited. to. eminent dom-ai~ -insolvC'8C)'~ code enforcement. or arran~menb or proceedings lO\"olving a ban&:nlpt or doeedeot. then Le--nd.er at Lender's option~ upon notice: to Borrower, may make such appearances. dishunte MtCh SUIRI and take &UCh action as .is n<<:es5a.r)' to protect Lender's _ interest. Including. hut not limited. to. d.isbursement o( ~ -a-I~'s-f__ -and_ entry upon the Property to makt repairs. If Lender required mortgage insuran(;e ",So a .:ooolmonof makin, !be Ioall.-.red by this Deed of Trusl. Borrowet shall pay the premiUtll> required to mamt.to such insaraaee in cffecrt until suc:b__time__ the requiremenl for such insurance terminatts in accordlln","C with Borfl:)Wc-r'~ and I...... .. wri_ ~ble law. Borrower shaJ. I pay tbe amount (.f ..II lllortgage i",uram:e premiums in.. the ___ p-o:lridod lIIlIIIr Pw 2 hereof. ^~__. .by Lender pursuant 10 tb.. paragraph 7. w,.h mle....t thereon. shall be<:omc addiu"",l indiln _of.~ te<\JftI4 by thi> Deed of Trutll. Unles> Borrow..r '00 lender .,roe 10 other lern.. of paymeRt. sueh "-'* ...... be PW)'able upon llOIice front Lender 10 Borrower requestin, payn"'"t lhereof. .nd ,hall h<<r inlerest from lhe ...at lIiIIl.. t IT Ttat tl,.._ paJabfA from. t'- t., time on _slanding principal under Ibe NOIe unl... payment of intemt &l1lICh .... .......w be ooatrary. k> applicable law. in which evenl such amount, ,hall bear interest 'I Ih. higbe>l rate ~ lIIlIIIr applleabIo law. Nothittt rontaioed in this para.,.pb 7 ,hall requ,.., lender to ,""ur an)' ..pense or tlllte ..., ....~. J. . ~... Umder lI1&Y 1Mb or.c,.._w be made reasonable elll...... "p...n anJ .u.pcclion. of .rbe Pmpert).. pwv,<.h:J tlMl ~~ &Mo. ~ .lOI.... pr_ tn. any .uch lIt1pcc"tion SpocilYlDJ _s""able ,a_ tberetor ..Ialed \0 Lwd." i_Ul~~.