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<br />83- illl6737
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<br />UNIFORM COVENANTS. Borrower and lender covenant and agree as foHows:
<br />1. r.ymeat of Principal and Interest.. 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 />%. ........ fM Ta.. aDd I....rao"". Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />fa Lender on the day monthly instaUments of principal and interest are payable under the Note. until the Note is paid in fuJI,
<br />a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Deed of Tfust. and ground rents on the Property. if any. plus one-twelfth of yearly premium installments 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 of 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 />shUe agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments.
<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 charge. Horrower 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 Jaw
<br />requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on 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, together with [he future monthly installments of Funds payable prior to
<br />the due dates of taxes. ass.es"ments. insurance premiums and ground rents, shall 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 shall nOI be sufficient 10 pay taxes. assessments, insurance premiums and ground rents as they faU 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 to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Deed of Trust, Lender shaH promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Property IS sold or the Property is otherwise acquired by Lender. Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its ;)cquisition 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. Apptication of Payments. Unless applicable l:1w provides otherwIse. aU payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall he applJed 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 !O the principal of the Note. and then to inrerest and
<br />principal on any Future A.dvances.
<br />4. ChaJJ:es:- Liens. Borrower shall pay all ta\e... 3sscssments .and other charge.'i, fines and impositions attributable to
<br />the Propeny which may attain a priority over {his Deed of Trust, and lcasehoid payments or ground rents. if any. in Lie
<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. Bo-rrower shatl promptly furnish to Lender all notices of amounts due under this paragraph, and in the
<br />e\-'ent Borrower shaH make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien whICh has priority over lhl~ Deed of Trust: provided. that Borrower shall not be
<br />reqmred IO discharge any such lien ~o long as Borrower ..hall agree in writing to the payment of t.he obligation secured by
<br />such lien JO a manner acceptable to l.ender. or shall 10 gooo f~llth conlest slIch lien by. or defend enforcemenr of stich lien in.
<br />legalt.roceedings which operate !o prevent the ~ntorcement of Ihe lien or forfeiture of the Property or an~, . -'"I thereof.
<br />. Hazard 1_....<<. Borrower '\hati leep the Improvements now eXIstlOg or hereafter erecled on the Prop ny insured
<br />against loss by fire. hazards included within {he term "ex.tended coverage", and such other hazards as Lender may require
<br />and In such amounts and for such periods as l.ender may reqUIre; provided. [hat Lender shall not require that the amount of
<br />s-uch coverage e:\ceed that amount of ~overage reqUired 10 pay the sum.. secured by this Deed of Trust.
<br />Tbe insurance c.arric:r providing the insurance 'ihall he cho"Cll hy Borrower subject to approval by Lender: provided.
<br />that such approval shall not be unreasonably wlthheld_ All premiums on insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof or, if not paid m such manner, by Borrower making payment. when due. directly to the
<br />insurance carrier.
<br />All insurance policies and renewals [hereot ....haH be 10 form acceptable to Lender and shall mclude a standard mortgage
<br />clause in favor of and in form acceptable to Lender Lender \haH have the nght to hold the policies and renewals thereof.
<br />and Borrow-er shall promptly furnish to Lender J.1l renewal notIces and ,Ill receipts of paid premiums. In the event of loss.
<br />Borrower shall -give prompt notice to the Hlsuran.:c carner and Lender. Lender may make proof of loss if not made promptly
<br />bv Borrower.
<br />- Unless Lender and Borrower ntherWISC agree jn \\- ntHlg, msurancc proceeds shall he applied 10 restoration or repair of
<br />!he Property damaged. provided such restoration tJf n::p.Hr :.. cl.::ononllcaliy feaSible and the security of this. Deed of Trllst is
<br />not thereby impam:d. If -such restor;u;on or repair 1<; nol t:"Conoml.:-aJly feaSible or I i the ~ecurity of this Deed of Trust would
<br />be Impaired. the insurancl: proceeds !'.hall be applied to the sums secured hy this Deed of Trust. with the excess. if any, paid
<br />to Borrower. If the Property is abandolJcll by Borrower. N if Borrower j:tlls to respond to Lender within 30 days from the
<br />date noti..:e is maiJed by Lender to Borrower that the iI1surancc carrier otlcrs to seule a dalOl for Insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds ;tl Lender's option either to restoration or repair of the Property
<br />or to the- sums secured by thiS Deed of TruR
<br />Unless Lender and Borrower otherwise agree- in wf1tmg. any :o;uch application of proceeds to principal shall not extend
<br />or postpone the dUt'. date of the monthly installments rererTed 10 In paragraphs 1 and 2_ hereof or change the amount of
<br />such im~Uments. If under ,~ragrap~ IS hereof the Property 1\ at.:\}uucd _by t,_cnder. ail nght. title and interes.t of Borrower
<br />in and to any Insurance po-hCtes and In and to the pro\.:ecds thereof re-suillng trom damage to the Property pTlor to the sale
<br />or acqualtio-n shaH pass [0 Lender 10 the c.\.tent of the sums secured by this Deed of Trust immediately prior to such sale or
<br />acquisition.
<br />6. Preservation aad MahttelWKe of Property; Leaseholds~ Condol11jniu~; Plaoned Unit Devel~pments. Borrower
<br />..hail keep Ihe Propeny H\ gO('oi.i repair :1nd shall nDt Yl1mnHI \"a~IC ,It' pcrrlllt 100palrmenf ur uctcnnralion of the Property
<br />,lnti shall comply with "be proVisions of any lease If thiS Deed of TruSI I::" on a leasehold. If this Deed of Trust is on a unit in.)
<br />condominium or a planned up-it development. Borrower shall perform all of Borrower's obligations under the declaration
<br />or covc:nants crealing or governing the condQminium \~r planned Hnlt development. the by-laws and regulations. of the
<br />c~do.miDiurn or planned unit development. and ,:onSHtucnt document.~. H a condominium or planned unjt development
<br />nder 1$ executed by Bo-rrower and rfX'orded together with thi~ Deed HI Tru-sc the ":OVet~an[s and agreements of such nder
<br />sbaH be incorporated into and s.hall amend and supplement the COVenant~ and agr<<ments of this Deed 01 Trml ;is If th~ rider
<br />w"", a part hen:<>l.
<br />7~ P'rattctioa of leMk~li Security. If Borrower fails to pc.dorm fh~ covtnants and agreements contained in this
<br />Deed of Trust, (Jf if any 3ct10n or proceed~n8)s comrneoced which matenaUy affects. lender's Interest i.n the Propet1y,
<br />including. bur not limited t.o. eminent domam, '"solvency. code enforcement. or arrangements or procc<<imgs lIlvOIVlOg a
<br />bankrupt or decedent. then Lender at Lender's option. upon notice, It) Bono.wer, may make -such. appe.'1ran~eil, dishun.e SlKh
<br />sutn$ and take such action as IS necessary 10 protect Lender\ l(l!er~t, Indudll1g. but nut ltmlled to, dIsbursement ot
<br />reasonable .norne)"j fees and entry upon the Propeny to rnake repairs. rr ~ender requi-red mortgage HlltUntnCe ..\\ ;1
<br />condition ~f mat'ng tn.e loan secured by thIS Deed of Trust, Borrower :shali pay the premiums required to mairH~tln :-ouch
<br />Jh$.Urance tn elTect until s.:uch time as the requirement f('i-r such Itlsurancc terminates in ~\ccordance wlih Borrower':,\- .lfld
<br />Lendct'J written agfocIDCnt or applicable law, Borrower shaH pa)' the arn~,)Unl of all mortgage insurance pn:miullls III the
<br />"'""""" provide<! under I"'ragraph 2 henof.
<br />A.tJy amounts disbursed- by Lender pursuant to this pnragrap-h 7, with mterest thereon. shaH beclJme ,u.Jdiliomtl
<br />indebtednea Q{ BorrowC"r 5e4:ured by thl-S Deed of Trust_ Unl~5 Borrower and Lender agree to other terms \)f payment. 'Such
<br />~ll $ban be payable Upol1 [}(){ke from LernJer to lk.'lffOWer re.Questmg paymem thereof. and shall hear inter~1 fmrn the
<br />date- of ~t-at the rate pityable from time (0 time on outstanding pnncipai under the NOlt" unless payment of l-nleres.t
<br />iiI. web tate wouJd he_ contcary to ap~hcabfe law. io which eVent such amount~ shall bear Iflttre\t a! Ihe highcst rate
<br />~b1e undef .ppjkable law, Nothtng co-ntaH'led Ih lhl$ paragraph 7 $haU reqUire Lender to Incur an\' expense or take
<br />"'Y""_~r, .
<br />L ~ l~r may muc or \:'~u.\e, to be- ma~ reast"lna,ble .entn~~ upon and m~pectl(\ns of th(" Property. pn.videtf
<br />~"'t l~ ~btJf 'l~. Botr-ow-c:r n\>hct: ptjQr to any 1i.uch Hl$p<<h()fl: s.peclfYIng reuonable CiltNrt..! therefm reLal-('!d it) L('nd~t.-"
<br />"Hum in d. PfOOeft'Y,
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