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<br />83-0(16739
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<br />UNIFORM COVI!NANTS. Borrower and Lender covenant and agree as follows:
<br />I. Payment of Prinri.... and Interest. Borrower shall promptly pay when due Ihe principal of and inlerest on Ihe
<br />indebtedness evidenced by the Note, prepayment and tatc charges as provided in the Note, and the- principal of and interest
<br />on any F~ture Advances secured by this Deed of Trllst.
<br />2. ......... fOr T_ and I_re. Subject 10 applicable law or 10 a written waiver by Lender, Borrower shall pay
<br />to Lender--on 1he day monthly installmenfs of principal and inrerest are payable under the Note, until the Note is paid in fult
<br />a sum (herein "Funds") 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 Pr-operty. 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. all as reasonabJy 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 />state agency_ (including lender if Lender is such an institution). Lender shall apply Ihe Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge for so hoJding and applying the Funds, anaJyzing said account
<br />or verifying: and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable Jaw
<br />permits Lender to make such a charge. Borrower and Lend~r 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 />shaH 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 rhe amount of the Funds held by Lender, together with the future monthly instaJlments of Funds payable prior to
<br />lhe due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxt.."S.
<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 monfhly installments of Funds. If the amOlmt of the Funds
<br />held by Lender shaH not be sufficient to pay taxes. assessments. in!o:urance premiums and ground rents as they fall due.
<br />Borrower shall pay to Lender any amount necessary to make up Ihe deficiency within 30 days from the dale notice is mailed
<br />by Lender to Borrower requesting paymenl thereof.
<br />Upon payment in full of all sums secured by this Deed of Trust. Lender shall promplly refund to Borrower any Funds
<br />held by Lender. If under paragraph t8 hereof the- Property is sold ('Ir Ihe Property is otherwise acquired by Lender. Lender
<br />shall apply. no later than immediately prior to the sale of the Property or its acquisition by Lender. any Funds hetd by
<br />lender at the time of application as a credit against the sums secured by this. Deed or Trust.
<br />3. Applkation of Payments. Untess applicable law provide~ otherWise, all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shaH 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 Notc, then 10 the principal of the Note. and then to interest and
<br />principal on any Future Advances.
<br />4. Charges; Liens. Borrower shall pay all laxe.;;, assessment" and other charges. fines and impositions atlribUlable to
<br />the Propeny which may attain a priority over [his Deed of Trust. and leasehold payments or ground rents. if any, in the
<br />manner provided under paragraph 2 hereof or, jf not paid in sllc,h manner. by Borrower making payment, when due. directly
<br />to the payee thereot. Borrower snail promplly furnish to Lender all notices of amounts due under this paragraph, and in the
<br />event Borrower shall make payment directly, Borrower shall promptly furnish to Lender rec~ipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has pnority over thiS Deed of Trust: prOVided. that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall agree in writing to the paymenl of the obligation secured by
<br />such lien in a manner acceptable to Lender. or shall in good faith conteSf such lien by. or defend enforcement of Stich lien in.
<br />legal proceedings which operate to prevent the enforcement of the hen or forfeiture of the Property or any part thereof.
<br />5.. Hazard JD5UnDC~. Borrower shall keep the improvements now existing or hereafter erected on the Proncrty insured
<br />against loss by fire~ hazards included ~ithin the term "extended COvcr..lge", and such other hazards as LCnl.l ,nay require
<br />and to such amounts and for such penods as Lender may reqUIre: provu.icd. that Lender shall not require Ihat {he amount of
<br />such coverage exceed that amount of coverage- required to pay Ihe sums se~ured by this Deed of TmsL
<br />The- insurance carrier providing the insuram:c shaJl he cho<;,cn hy Horrower subject to approval by Lender: provided.
<br />that such approval shall not be unreasonably withheld, AU premiums on insurance policies shall he paid in the manner
<br />provided under paragraph 2 hereof or, if not {Tolid in such manner. oy Borrower making payment. when due. directly to the
<br />insurance carrier.
<br />All insurance policies and renewals thereof shall he in torm acceptable [tl Lender and shall include a standard mortgage
<br />clause in favor ot and in form -acceptable to Lender. Lender :.half have the right to holJ lhe policics and renewals thereof.
<br />and Borrower shall promptly furnish to Lender all renewal notices and all rCcclpts of paid premiums. In the event of loss.
<br />Borrower shall give prompt notice to the Insurance carrier and Lender. Lender may make proof of loss if not made promptly
<br />by Borrow"".
<br />Unless lender and Borrower otherwise agree in writing. Insurance prol:ccds shall be applied to resiOration or repair of
<br />the Property damaged, provided such restoration \Jr repair i'i economically feasible ~tnd the security of this De-ed of Trust 1';
<br />not thereby impaired. If such restoration or repair IS not C'con~)micalJy feasible or If the sc(;t1rity of thi~ De~d of Trust would
<br />be impaired. the insurance proceeds shall be applied to the slims se~..'urcd by Ihis Deed of Trust, with the ex.cess. If any, paid
<br />to Borrower, If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
<br />date notice is mailed by Lender (0 Bonower Ihat the insurance carrier olfers. to scutc a claim for imH:rance benefits. Lender
<br />IS authorized to -collect and apply the insurance proceeds at lender's option either to restoration or repair of the Pr0pcl1y
<br />Of to the S-UDl.'i secured by thlS Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall 110t cxten~
<br />or postpone the due date of the monthty installments referred to in paragraphs I and 2 hereof or change the amounl 01
<br />~uch installments. If under paragra~ 18 hereof the Property IS acquired hy Lender, all righr, title and interest of Borrower
<br />m and to any insurance policies and In and to the proceeds thereof resulting from damage to the Property prior to the ~alc
<br />or acquisition shall pass to Lender 10 the extent of the sums secured by thll) Deed of Trust immediately prior to ~uch sale or
<br />acquisition.
<br />6. Preserowaticm _41 Maintenance of Property. Leaseholds; Condominiums; Planned Unit Developments. Rorrowcr
<br />-,hail keep the Property in gO(Jd .repair and ..halt nOI _':llmnllt \\<a::.lc l)~ penH It Impairl11~nt or deterillration llf the Property
<br />and slntH comply with the provisIOns of any lease jf [hiS Deed of Trusl IS on a leasehold. If this Deed of Trust is on a unil in a
<br />condominlum or a planned unit development, Borrower shalt petform all of Borrowc..(s obligalions under the declaration
<br />or -covenants creating_or governing the condominium or planned unit development. the bYMlaws and regulations- of the
<br />.condominium or planned unit development, and constituent documents, If a condominium or planned unit development
<br />rider is executed by Borrower and recorded together with this Deed of Trust. Ihe covenants and agreements nf slIch rider
<br />shalt be incorporated into and $-haH amend and supplt::melH the covenants and agreements of this Deed of Tru~t i.l'> if Ihe rider
<br />were a part herepf.
<br />7. P1oIedIoa of l.eIIdtf'ts Security. If Borrower fails to perform the covenants and agreements (;ontaine-d in this
<br />Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Property.
<br />incJucijng. but not limited to, eminent domain~ insolvency, code enforcement. or arrangements or proceeding~ involving a
<br />bankrupt Qf deudent. then Lender at Lender's option, upon nOlice to Borrower. may make such appearanc~s. dis-bll~e such
<br />sums and ta.-ke such action as- is necessary to protect Lender's intercsI. induding, but not limited to. disbursement ot
<br />teuouabIe auorney"" fees and entry upon ,the Propert)' to mak.e repairs. If L,.cnder requin.-d mortgage insu~anc.e as a
<br />~nditi(ln of mWAg the loan secured by tbtS Deed of Trust, Borrower shall pay the premiums required to mamtam MICh
<br />tnsur.ance in etI'tCt until such- time as the requirement for such insurance terminates iI' accordance with Borrower'j<i and
<br />Lalde..~s written -asreement or applicable law. Borrower shall pay the amount of all mortgage insurance premll.Jms in the
<br />__ pr<Wi<led under paraarapb 2 herepf.
<br />_ Any amounu disbursed by Lende-r punuant to this paragraph 7. with Hlterest ther-eon. :shall becmne additional
<br />h~ of Borrower secured by .this Deed of Trust. Unless Borrower and Lender agree to other terms of payment. ~uch
<br />~ shalt be. payable upon nOll<.:e- from Lender to Qc)rrower ,.equ~.ing paymeot thereof. and shall hear interesl f.lOm the
<br />-- oldiibu~t,.t the rate payable from time to time on oUl-standing principal under the Note unles.., payment (~t interest
<br />at wclt rate w-OOld be contrary to applicable taw, in wh!ch e''-erll Iliuch amounts, 5.haU bear interesl a{ Ihe htghe:;.t rar.e
<br />per~boIe UnOeT .applicable law. Nothins c.cutained in thiS p.1Hillfaph 7 sha.H reqmre- Lender to incur any expense or take
<br />""Ylll;_~.
<br />.. ........... Lemler: ~y -make Of ca\JM: to be made (-t;uonabte entri~ upon ilnd lO:ripecuons of _the- Property. pflwiJe-d
<br />~bat ~ ..-.u arv-c BorfOW'C:f nOliee-, pOur to any -such im_pecuon Jpecifymg reallQnabk ~ause therefor rdated h, l_codcf \
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