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<br />83-uu6735
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<br />UNIFORM COVENANTS. Borrower and lender covenant and agree as follows:
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<br />I. Payment of Princlpall and IDI.~. 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 this Deed of Trust.
<br />%. F.... for Tans and 1-""""" Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lenderon~tbe day monthly installments of principal and interest are payable under the Note, unlilthe Note is paid in full,
<br />a sum (herein '~FundsU) equal to one.twelfth of the, yearly taxes and assessments which may attain- priority over this
<br />Deed of Trust, and ground rents on the Property, if any, plus one-twelfth of yearly premium installmenlSfor hazard insurance,
<br />plus one..twelfth of yea-rfy premium installments for mortgage insurance. if any, all as reasonably es_tima_ted initially and from
<br />time to time by Lender on the basis of aSSessmenlS and bills and reasonable estimates thereof.
<br />The Funds shall he held in an institution the deposits or accounts of which are insured or guaranteed by a Feder.lor
<br />state agency (including Lender jf Lender is such an institution). Lender shaH apply the Funds.to pay s_aid taxes,_:as~~ents.
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, 'analyzing said account
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the- Funds and applicable law
<br />permits Lender to make such a cha-rge. 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 shall nor be required to pay Borrower any interest or eamin,s on the Funds: Lender
<br />shall give to Borrower; without charge, an. annual accounting of the Funds showing credits-and debJts to the Funds ~nd-.the
<br />purpose for which each debit 10 the Funds was made. The Funds are pledged as additional security for the sums secured
<br />by Ihis need of TruSl.
<br />If the amount of the Funds held by Lender, together wilh lhe fulure monlhly inslallmenlS of Funds payable prior to
<br />the due-dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to'pay-said taxes,
<br />assessments, insurance premiums .:md ground rents as. they faU due. such excess shall be, _at Borrower's 4)ption, eitber
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Fund~. 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 fall due.
<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 10 Borrower requesting payment thereof.
<br />Upon payment in fult 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 Ihe Propeny is sold or the Property is otherwise acquired by Lender. lender
<br />shall appJy, 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. Applkation of Payments. Unless applicable law provides otherwise, all payments- received by lender under the
<br />Note and paragraphs 1 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. Charges; Liens.. Borrower shall pay all taxes. assessments and other charges. fines and impositions attributable 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 />eyent Borrower shaH make payment direclly, Borrower .shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrowt:r shall promptly di$Charge any Hen which has priority ovc-r this Deed of Trust; provided. that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall agree in \il,-riting 10 the payment of the obligation secured by
<br />'\uch fien In a manner acceptable fo Lender, or shall in good faith COni est stich lien by, or defend enforcement of such lien in.
<br />legal proceedings which operate to prevent the enfo~cement of (he lien o~ forfeiture of the Property or any ---"'rt thereof.
<br />s. Hazard lDSUJ'aDce. Borrower shall keep the Improvements now e.xlstlOg or hereafter erected on the ProIA I y insured
<br />against Joss by fire, hazards inciuded within the teon .'extended coyerage", and such other hazards as Lender may require
<br />and in such amounts and for such periods a\ Lender ma)' require; provided. that Lenuer shall not require that the am(llmt of
<br />slIch coverage exceed that amount of coverage reqUired to pay the sums secured by this Deed of TnlSL
<br />The insurance carrier prOViding the inxurance shaH be chosen by Borrower subject to approval by Lender; provideu.
<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 canier.
<br />All insurance policies aDd renewals thereol shalt be In form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceplable to Lender. Lender ..hall have the right to holJ the policies and renewals thereof.
<br />and Borrower shall promptly furnish to L-ender all rene.....al notices and aH receipts of paid premiums., In the eVent of loss.
<br />Borrower shaH give prompt notice to the Insurance l:~rfler and lender. Lenuer may make proof of loss If not made promptl}'
<br />by Borrower.
<br />Unless Lender and Borrower olhefwi-se agr~c in "^ ritlng. Insurance proceeds shall be applied to restoration or repair or
<br />the Property: damaged, provided such .restoration o~ re-p.ur ,\ c,:n!1oTnIl:ally fca~ible and the security of this Deed of Trust is
<br />not thereby ImpaJred. If such reSlOratlon or repair 1', mH c\.:onomil:ally fta~lble or If the !accurity of this Deed of Trust would
<br />be impaired. the msurance proceeds shaH be applieJ to the sums sCL'ured ~~ this Oeed of Trust, With the e.\cess. if any, paid
<br />to Borrower, If the Prop.:rty IS abandoned by Borrower, or if Borrower f::lIls 10 respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the lOsurant:c L'ilrrier offers lu settle a claim for insurance benefits. Lender
<br />is aUlhoriud to collect and ~ppl)' the insurance proceeds at Lender's option either to reSIOratjon or repair of the Property
<br />or to the sums secured by thiS Deed of Trusl.
<br />Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shall nol eXlend
<br />or J.XlStpone the due dale of the monthly installments reterred to in p<iragraphs I and 2 hereof or change the amount of
<br />such installments. Jf under paragraph I ~ hereof the Properly l~ acquired by Lender, all right. title and interest of Borf<lwer
<br />in and to,an)' insurance policies and in and to thc_ proceeds then'of rc,\ulling from damage !o the Property prior 10 the sale
<br />or acquiSition shall pass to Lender h.l the extenl ot the sums secured bv thiS Deed of Trust immediatel\! prior to ::ouch sale or
<br />acquisition. ->.
<br />6.. Presenadon and M8iatenance of Property. Leaseholds; eondominiums; Planned Unit I>eveJopments, Borrower
<br />..hall keep the Propefl)' If1 goo-J repair ~H1d shall nOl ;':t)llllllll .....a:.lc (Ir pC-nHI! itnpairmcfH or deterioration of the Property
<br />and shall ~ompJy with the provlsions of any lease if this Deed uf Trust is on a l.caschold. If this_ Deed of Trust is on .1 unit in it
<br />condomimum or a planned unit development, Borrower shall perJorrn .all ot Borrower's obllgatlons under the declaration
<br />or covenants \:reatlng or governing the condomlOlum or planned lHllt development, the by.!aws ano regulation~ of the
<br />c~minium or planned unit developmem, and constlluem. documcnls. If a condominium or planned unit development
<br />nder IS e.~ecuted by Borrower and recorded together with thiS Deed of Trust. the (.;ovenanlS and agreements of sU<.:h rider
<br />shall be Incorporated inlo and shall amend and supplement the C0venan~ anJ agreements of {his Deed of Trw~1 .is if Ihe rider
<br />were a parr hereof.
<br />7. Protectioa of L-endu~5 Security. If Borrower falls to perform the co\'enams and agreements contained in [his
<br />Deed of Trust, or if any action or proceeding is commenced which marerially afti.."Cts Lender's intercM in Ihe Proper1y,
<br />includlng~ but not limited to. eminent domain. insolvency, code enforcemenr, or arrangemems or proceedings involving ,1
<br />bankrupt or decedenr~ then Lender at Lender's option, upon notice to Borrower, may make such appearam:cs., dishuo.e such
<br />sums and take such action as is necessary (0 prolec{ lender's interest, including. hut not limited to. Ji~hursemenr of
<br />r~":,ble attorn~y's fees and entry upon. the Property to make repairs_ If ~endcr required mOrlgage in\jlH.m~e a~ a
<br />~ndtbOn of making the loan .secured by thl$ Deed of Trust, Bor.fOwer shall pay the premiums feqUll'e~ to m.aintam :\uch
<br />tnsurance- in etfect until 5-~h time as the requjrement for su-ch IIlSUfancc terrninat~ in accordance With B-orH.1\""cr's and
<br />lender's written agreement or appficable law. Borrower ~haJl pay the amount of all mortgage insuranl,;c premiums in lhe
<br />"'-"lner provided under par....aplt 2 hereof.
<br />. Any amounts. disbursed by Lender pursuant to (his paragraph 7, with IIltere..~t thereon, ~hall bCl:t.lffiC additional
<br />indebledneu of Borrower secured by this Deed of TruSL Unless- Borrower and Lender agree to other term~ nf paymenl, :\uch
<br />amoun15 shaU be payable upon notice from Lender to Borrower requesting payment thercoL ~lnd shall hear Illfe,resl from the
<br />dale of disbunemc-JIt at, the raw payable (rom time to ,time on oUlslanding prindpal under the Note unlC$~ payment of inlerest
<br />at Itk:h rate wO\IM be cootrary to apphc-able la..., lfl whIch event such amounts shaH /:lear mtcr-esl at th(. hlghe~{ rate
<br />permiuible u~ applicable law, Nothing contained in lh!s paragraph 7 shall require Lender to incur any tJ(pcn~e or lake
<br />MY ""lion hetew1der.
<br />I. ~ tender nay mak.e Of cause In be made fc-uonabl-e cn:tri:es. iJpon and Impe-ctwO'!, of ,the Pro~~rt)'. prm'idc_d
<br />thac 1.A:~f_ $".U ,.iv-c 8orro'\lu:r noti(:e pnof to an)' nu;;h l.O~ptCtlon S.pecf(ytng rea.\-i.lnahie ('-Aus.e therefor rchued to t...ndcr- <;
<br />"'ler...t "' lbe 1'_v.
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