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<br />002492
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<br />UNIFOIllM COVENANTS. Borrower and l.ender covenant and agree as follows:
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<br />I. rilytriCftf of Principal .nd Inle-I'df. Borrower shaH prompriy pay when due the prmcipal of and intere..' on lhe
<br />Indebtedness evidenced by rhe Note. prepayment and late charges as provided in the Note. and the principal of and inlerest
<br />on any Future ^dvanc~ secured by this Deed of Trus1.
<br />1. ..... for Tn_.nd IlISIII'aIK"r. Subject to applicahle law or to a wrinen waiver by tender, Borrower shall pay
<br />10 Lender on the day monthly installments of principal and inlercst are payable under the Note. until the Norc is paid in full.
<br />a sum (herein "Funds") equal to one-twelflh of the yearly ta1l:CS and asse.Cismcnls which may atlain priority over thi...
<br />Deed of Trust, and ground rents on the Property. if any. plus one-twelfth of yearly premium installments for hazard insurance.
<br />pius one-twel[lh of yearly premium installment~ for mortgage insurance. jf any. all as reasonably estimaled initIally and from
<br />time to time by Lender on the ba5is of asse..~ments and bills and reasonable estimates (hereof.
<br />The Funds shall be held in an imuitution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />srate agency (including lender if Lender is such an institution)_ Lender shall apply the Funds to pay said taxes. as<;eSSnlcnts-.
<br />Insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds. analyzing said accounl
<br />or verifying and compiling said assessments and bills. lInle~s Lender pays Borrower interest on the Funds ilnd applicable la....
<br />permits Lender to make such a charge, Borrower and Lender may agree in writing at the time of c"cculion of !his
<br />Deed of Trust that interest on the Funds shan be paid 10 Borrower, and unless sllch agreement is made or applicable law
<br />requires stich interest to be paid, Lender shall not be required 10 pay Borrowt:r any intereM or earnings on the Fund.., Lcnder
<br />shall give to Borrower. without charge. an annual account 109 of the Funds showing credits and dehits 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 />hy lhis Deed or Trust.
<br />If the amount of the Funds held by Lender. together with the future monthly installments of Funds paY:lble prior ({\
<br />the due dates of taxes. assessments. in51Irance premiums and ground rents. shall exceed the amount required to pay said taxes.
<br />assessments, insurance premiums and ground rents as Ihey fall due, such ex.ce,...s shall be. al Borrowers option. either
<br />promplly repaid 10 Borrower or credhed to Borrower on monthly installmenrs of Funds. If the amount of the Fund<1i
<br />held by Lender shall not be ~ufficient 10 pay tau:... assessments. insurance premiums and ground rents as they fall due.
<br />Borrower shall pay to Lender any amount necessary to male up the deficiency within 30 days from the date nOlice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by thiS Deed of Trusr. Lender shall prompriy refund to Borrower any Funds
<br />held hy Lender. If under paragraph 18 hereof the Propcny is sold or the Property is ot~erwise acquired by Lender. Lender
<br />shall apply. no later than immediately pnor 10 the s.ale of the Propeny or its acquisr!lon by lender. any FlInd~ held by
<br />Lender at the lime of application as a credit againsllhe sums secured by Ihis Deed of Trust.
<br />3. Applic.tion of Payments. Unles..s applicable law provides otherwise. aU paymenls rece-ived by Lender under the
<br />Note .and paragraph.... I and 2 hereof shaH he apphed by Lender first in payment of amounts payable to Lender b'y 8orrower
<br />under paragraph 2 hereof. then to interest payable on the Note. then 10 the prinCipal of the Note. and rhen to mterest and
<br />principal on any Future Advances.
<br />4. Ch.....es; Ue-. Borrower shall pay all ta.Aes_ a.-.scssments and other charges. fines anu Impositions attributable to
<br />the Property which may altain a priority over thiS Deed of Trust. and leasehold payments or ground rents. it 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 />10 the payee thereof. Borrower shall promptly furnish 10 Lender all nOlices of amounts due under ihis paragraph. and in the:
<br />event Borrower shall make payment directly. Borrower shaJ.1 promptly furnish to lender rec~jpts evidencing such payments-.
<br />Borrower shall prompliy discharge any lien which has pnonty o'ller thiS Deed of Trust; prOVIded, that Borrower shall not be
<br />reqUired 10 discharge- any such lien so long as 8orrow~r shall agree in writing fO the payment of Ihe obligation secured by
<br />"lith hen In a manner acceptable to lender. or shalllfl good faIth COnlest such hen by. or derend enforcemem of such lien ,",
<br />legal proceedings which operate (0 prevent the enforcement of the hen or (or rei lure of the Propeny or any part thereor.
<br />5. HuanI 111111....<<. Borrower shall keep the Improvemf:nlS now eXlstlOg or hereafler erected on rhe Property insured
<br />against loss by fire. hazards includ~d within the term ..extended ,,",overage". and such other hazards as Lender may_ n;quire
<br />and in such amounts and for ~uch pc:flods as Lender may require; provided. that lender s.han not require thaI Ihe amount -of
<br />~uch coverage exceed that amount of coverage reqUIred to pay the sums secured by this Deed of Tnls!.
<br />-me: insurance carner provtdintt the in~uranc-e "ihall be chosen by Borrower subf~ct to appro....al by Lender: provided.
<br />lbat such approval shall not be unreasonably withheld. All premiums on insurance policies shaH be paid in the _manner
<br />provided under paraarapb 2 hereof or, If not paid in such mannel", by Borrower making payment. when due. directly to the
<br />insurance carrier.
<br />All insurance policies and renewais thereof shall be In form acceptable 10 lender and shall include a standard mortg..ge
<br />clause in favor of and in fonn 31;"c.eplable to Lender. Lender shaH have the- right 10 holu, the pol,icies. and renewals thereat
<br />and Borrower shall promptly furmsh to Lender aU renewal notices and all recelpls of paul premiums. In the event of Joss.
<br />Borrower shall give prompt nmice to Ihe IOsurancc carner ami Lender. Lender may ma~e prooC of loss if nol made promptly
<br />by Borrower.
<br />Unless lender a.nd Borrower \)lherwl5e a.gree in .....ntlOg. Insurance proceeds shall be applied 10 restoralion or repair of
<br />lhe Property damaged. p-ro~tded such resloration of rcpalf I~ economKally fcasible .and the security of this Deed of Trust i~
<br />not thereby impalted. If such restoration Of repair Ii;] nOI economically feaSible or If the security of this Deed of Trust would
<br />be Impatf-ed, the iO'iliuran,,"e prt.-xeeds shall be applied to Ihe sums secured by (hiS Deed of Trust. with the excess. If any. paid
<br />10 Borrower. H the Property is aband(lOCd by Borrower. or if Borrower fail_~ to respond 10 Lender within 30 days from the
<br />dale notiCe is mailed b~ Lender to Dorrov.er that Ihe Iflsurance carller offers to settle a "aim ror inslIrarn:e benefits,. Lender
<br />l'i authorrud to coHect and apply the msuran.:e pf\A:eeOS al Lender's option either to rc."'SlOralion or repair of the Propcny
<br />or to the sumS. secured by thiS Deed of Trusl.
<br />Unless-lender and Borro,*'cr olherwise agree In wntmg. any such apphcation of proceeds to principal shall not extend
<br />\)r postpone the due date of the monthly IOslallmerHs referred 10 In paragraphs I and 2 hereof or change the amount of
<br />:\uch installments., If under ~ragraph 18 hereof (he Property '" acquired by Lender, all right title and intcres.t of Borrowe-r
<br />10 and to.any tn~urance policlcs and 10 and hI thc__ proceeds thereot re~ulh.ng from ~amage to the Property prtor 10 the sale
<br />l'\r acqulSlltOn ~hall pass [0 Lender to the c\(ent ot the sums :;.c:clIfed hy thiS Deed 01 Tru\t immediately prior to such \ale or
<br />acquisition.
<br />6.. Pracn.lioa ad M.'en.lK:~ of Properly; lA'awhokb; Condominiums; P"nned Unil De"elopmenls. Borrower
<br />,-hall keep the Property In gOt,,",J repalf ..md ,haU not ..;pmnllt ....aslc \\1 pi:flllll Illlflillrmcnt or Jct~rinralit\n of the ProperlY
<br />;lnd sh411l compl)" ~llh the provlMons of an) lca~ If thrs Deed of Tru~t IS on a leasehold. If thts Deed of Trust is on a unit In a
<br />..'ondommium or a planned Untt development. BOflQWCr shall pctform all of Borrowcr's obligations under the declaration
<br />or covenants crealtn~ or ~ovcrning the condomlOlUm or pt;~nn{"d un.! de'....('I(\p!1~m. !he by-Jaws. :!rH.! regu!Jtinn\ :"f the
<br />condomlOium or planned umt development. and coos-bluent docurncnls If a ..:ondominium or planned Unit development
<br />nder 15. executed by BorrvVt'cr and recorded IOgether wuh thiS Deed of "Trusl. lhe covenants and agreemenls of '!.ollch rider
<br />shall be mcorporated Into and shall amend and !oupplemem the c,-Wcnanh ,and .agreements of Ihl~ Deed of TrU'ot ;l'!.o If the rider
<br />were a P.r1 hereof.
<br />1. Protection of leader's Securil)'. If Borrower falls (0 perform Ihe covenants and agreement~ conlamed in rhl'
<br />Deed of Trust, or If an) aCHon or proceedmg IS commenced whIch rnalcnally affect!t Lender's IOtcrC:)t in !he Propert\,
<br />mcludtng. hUI not hml(ed to, cmlll~OI dotn~un. Hlsol\'cnq. code cniurcemenl. or arr~ngemenb or procecdlng~ In..'oh-iOg ',I
<br />bankrupt or decedent. then Lender at Lender's option. upon nOllc( to Borrower, ma, ma"'e such al:"pearall(;e~. dl\.hllf"C \Ui..'n
<br />sum, and lake such aCtlon as, IS. n-ecessary to prole\:t Lenders mterest. sncludlOg.. hut not limited to. dISh\H..cmcnt n!
<br />re~$Oo.bic a.H)rne)'.~ fees and entry upon the I-ropcuy 10 mai..e re-pam,- H Lender rC~Ulred mo~tgage lrl\lIr.IIIl-(.' .1'- ,I
<br />condihon of mak.mg the: loan .s.et:ured by rhls Deed of TrU'H. Borro\Wcr s.hall pa> the premiums requtred to mal!ll.1l11 "1I..h
<br />Insurance In effect un'il !Such time a~ the requirement for su<.:h Insurance !('rminales 10 ac.;.:ordancc wlIh ANfo>Acr".. .Jnd
<br />Le-nJer', wnHcn .agreement Of applicable la~ Borro....cr shalt pa) lhe .amount (ll all mortgage iO,urancc pf\:lJ'1l1lnh 111 Ill\:
<br />m-anner provided und~r paragraph 2 here-of.
<br />^ny amounts dIsbursed b) l.end-er punuaOl hI thl\ pafagraph 7. 'Nilh lfIh~rc't IherclHL ..!-tall h(-,.;PfllC .1I.1UIII"IU:
<br />Indebh!:-dness of Borrower s<<ured by thIS Deed of lr\l~t Linle-St\ Borrower and I ('noer ugrcc In (Hher fl.'fll',> n! r<l>menl \u"h
<br />.HlM)unls ~haU be payable: upon notlce fr(,\rt1 I.ender 'n RQrro\,\-cr reque\ltn8 paymefH Ihen.'(Jf. i;tnJ \h..n toe.u Infeft''! !11'ln lhc
<br />date. o.f disbvrsement a-Ilht r.ate P'lyablc from time tu liO~-e o-n ,-'-ut';,tanJmg prlm:lpal under In" ~OfC llnfe-ss payme-rlt ,If Inlere"l
<br />at luch ral~ would be '.:tlntrarv h,) J:l.ppiH:ahte 11'1\'\'. :n WhKh event \\!ch affiOun!' ..h"i1 ~ar In{t"J-t:',-t ;jl the hf~hc'.! I alt
<br />permisSible under apphc-ahle la~, NOfhlng ..-vnIdlOtd In ~hls paragr&'l~)h 7 $hdH reqUIre Lender 11" IO,,"Ur an'v C"\flIl"n~c '_'f I<I;\..(
<br />ilf\l .cHon hereunder
<br />.~ lM,Ndioa. L-e.fntcl may mai..c or (au~ to b<: made tt:0l~'il4bic entnc_'!o IlplHl Mhl In'\f.\Cdlon.. \'t Ihe Pri\I":!I\-
<br />t~l tf"nde.'t _\haH 8rvc Borrowcl mHi\:(' pOOl to ;]ny ~u~h Hts-ptl.:tHin r.pc-":lf}'mg. fCa.\-(:<!l,able- 1"lIht' lht'feh~/ rl;"lul,'J [,' \"t,dd'
<br /><n-tC'.tUl on the PfODUt\'
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