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<br />84- 002616
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<br />UNIFORM COVENANTS. Borrower and lender covenant and agree as follows:
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<br />,I. P.yment of Pri..d.... ..... I..t...... 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 />2. F....... for T_ .... I......"".. Subject to applicabl. law or to a writt.n waiv.r by Lendor, Borrow.r sb8l1 P8Y
<br />to Lender on the day monthly installments or principal and interest are payable under the Note, until the Note is paid in full.
<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 cn the Property, if any. plus ene-twelfth of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium just.llments for mortgage insurance. if any, all 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 ~I;edera' or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to (Jay said'tax~s, asse:~lIlerttS.
<br />insurance premiums and ground rents. Lender may not charge for 50 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' applic_able' ~aw
<br />permits lender to make such a charge. Borrower and Lender may agree in~ writing at the time .of exe<;ution'-:,of., th,s
<br />Deed of Trust that interest on the Funds shall be paid to Borrower. and _ unless sllch agreement is made :or "applicab~~]aw
<br />requires such interest to be paid. Lender shall not be required to pay Borrower any interest-or eaming$-on-:the~;~~~;';i ~,~~~
<br />shall give to Borrower. without charge. an annual accounting of the Funds showing credits and debits ,to the, -FP-nds -al1.cI---the'
<br />purpose for which ..clMIebit to the Funds was made. The Funds are pledged as additional security for the .um.seeured
<br />by this Deed or Trust,
<br />If the amount of the Funds held by Lender, logether with lhe ruture monthly installments 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'-tax~~;,
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borr,owe_r!s option, ,e!.lier
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the- Fun"s
<br />held by lender shan nO!: be sufficient to pay !a~..es. assessmen!s. insurance premiums: and ground rents as t."tey fan -dt."e:.
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date'noticejs_m~ileli
<br />by Lender to Borrow.r requesting payment thereof"
<br />Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any Fun'ds
<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 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. Applicldlon 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. Ch....es; 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 />event Borrower shall make payment directly. Borrower shall promptly furnIsh to Lender receipts evidencing such payments,
<br />Borrower shall promptly discharge any lien which has priority over this Oeed of Trust; provided, that Borrower shall not be
<br />required t.o discharge any such lien so long as Borr~wer shall agree in writing ,to the payment of the obligation secured by
<br />such lien In a manner acceptable to Lender. or shall In good faith contest such hen by. or defend enforcement of Stich lien in.
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the ProperlY or any part thereof.
<br />S. HazanllosunlKe, Borrower shaH keep the improvemenrs now existing ('Ir hereafter erected on the Property insured
<br />against loss by fire. hazards included within the term "extended coverage", and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may require; provided. that lender shall not require that the amount-of
<br />ltuch coverage exceed that amount of coverage required 10 pay the sums secured by this Deed of Tmst.
<br />The insurance carner providing the insurance shaH be chosen by Borrower subject to approval by lender; provided.
<br />that such approval sball 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 carrier"
<br />All insurance policies and renewals thereot shaH be in form acceptable to lender and shall include a standard mortgage
<br />clause in favor of and in form acceplable to Lender. Lender shall have the right to hold the policies and renewals thereof,
<br />and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss.
<br />Borrower shall give prompt notice to the insurance carrier anti Lender. Lender may make proof of loss if not made promptly
<br />by Borrower,
<br />Unless Lender and Borrower otherwise agree in wrlllng. Insurance proceeds shall be applied to restoration or repair of
<br />the Property. damaged, provided such restoration or repaIr IS ct.:onomlcally fcasibl~ and the security of this Deed of Trust is
<br />not thereby Impaired. If such restoration or repair is not economically feasible or If the security of this Deed of Trust would
<br />be impaired. the insurance proceeds shaH be applied to the sums secured by this Deed of Tmst, with the excess. if any, paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to lender wjthin 30 days from the
<br />date notice is mailed by lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits. Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair oC the Property
<br />or to the sums secured by this Deed of Trust.
<br />Unless lender and Borrower otherwise agree '" wriung, any such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly instaJlments referred to in paragraphs I and 2 hereof or change the amount of
<br />such installments. If under paragraph 18 hereof the Properly is. aC4uired by Lender, all right. title and interest of Borrower
<br />in and to any insurance policies and in anJ to the prot.:ceds thereof resulting from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the eXlent of the sums secured by (his Deed of Trust immediately prior to such sale or
<br />acquisition.
<br />6. PreM:nadon aod M.tenance of Property; Leaseholds; ('ondominiulDS; Planned Unil IHt'eloplRents. Borrower
<br />...hall keep the ProperlY In good reral[ and shall nOI 1.:0010111 waste llr pernw impairment or deterioration of the Property
<br />and shaH comply with the provisions of any lease if this Deed of Trust IS on a leasehold. If this Deed of Trust is on a unit in a
<br />condominium or a pianned unit development. Borrower shall periorm all of Borrower"s obligations under the declaration
<br />or covenants creating or governing the condominium or planned lInlt development, the by-laws and regulations of the
<br />condominium or planned unit development. and conSIHuent documents. If <I condominium or planned unit development
<br />rider is executed by Borrower and re\.":orded iOgcther wilh thIS Deed \,,If l'rusl. the I,.:ovcnants and agrecmcnlS of slIch ridt:r
<br />shall be Incorporated into and shall amend and supplemenl the C'lwcnanlll and agret:ll1cnts of Ihis Deed of TruSI as if the rider
<br />were a pan hereof.
<br />7. Protection of lADder's Security. if 80rnJwer falls to pcrfoml the L::o"cnants anu agn:emenb contaIned in this
<br />Deed of Trust. or if an)' action or procccdmg is I..-ommenced which matcnaH:y affects Lcnder's intere~t in the Property,
<br />Including, but not limited to, eminent domain. insolvency, code enforcement, or arrangemenls or proceeding\ involving a
<br />hankrupt or decedent, then Lender at Lender's option. upon notice to Borrower, may make slTch appearance...., di~burse lollch
<br />sums and take such action as is necessary 10 protect Lender's Inlerest, llldudmg, hut not lunited to. di:-.bur\cl11cnl nl
<br />reasonable attorney's fees and entry upon the Proper.t)' (ll make repairs. If LcnJcr rC4uired mortgage insur;ulI..'c a'l a
<br />~ondition of making the loan secured by thIS Deed of Trusl. Borrower shall pa~' the p:renllutll:t rcqmr~d tn m;,ulll:.un :'I.llch
<br />msurance in effect until such time as the require-ment for such UlSUfallCC lenlllnalc~ lfl ':lccordi.lnce with Borrower\. .Uld
<br />Lender's wriu-en agreement or applicable law. Borrower shaU pay the amount l.lf ;'111 mortgage Insurance premium:, in Ih(;"
<br />manne-l provided under paragraph 2. hereof
<br />Any amounts disbursed by Lender punuant to Ihls paragraph 7, wllh llllcreSl ,hereon, \hall bC\:l1mc ;.llldtllnnal
<br />mdebtedness of Borrower secured by this Deed of Trust, llnless Borrower and Lender agree w other lC'rms of paymenl. :>>u..:h
<br />lilIDOunts shalt be payable upon notice from Lender 10 Borrower re-i.juesting pa\'ment ther~of, and shall be.ir interest fWIl1 thl'
<br />date of disbursement at the rale payable from time to lime on oUI:r..tandmg prlO~lpal under Ihe Nl)tc unless p1wmenl l){ intcrC5.1
<br />at such rate would be. contrary to apptkable la'W. In .....hl;,,:h ClI'l'nt 'ill..::h amount... \h<tlJ ht.~ar HHere:-.1 al lhe hlghl~sl raft'
<br />permiuib1e UOdel apphcable law, Nothmg ~,-)f)tall1t.~d lH llw. piHagrllph 7 ..hall n."t.jwrc Lt"m1er II, lBcur lln~ <.".\pense \lr lake
<br />any ""lion hereunder,
<br />I. ~....~ t.ender may make or \;au~c 10 oe made rt"a!l.~mao-Ie cntflc." Hfl".lO and lIl\~~dilm" 01 till' Propert\ I'lll.. h.l...d
<br />dHU Lender Shall Irve Borrower notJ~e pnuf to. oW), 5-ul.:h Hl'1S-J1e1;lHJl1 \peCdYlOg n.~.n(lnahk .:.Hl~C Iht'rl.'hH i("!..I!l'\,,! 1<' 1 ~'fHkr"
<br />lntcrat in the ProDettv.
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