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<br />84 ---v 002691
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
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<br />1. P.yment of Principal .nd Interest. Borrower shaH promptly pay when due the principal of and interest on the
<br />mdebtedness 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. Fa'" for Tu,. .nd Inm...nce. Subject to applicahle law or to a written waiver by Lender, Borrower shall pay
<br />10 Lender on the day monthly installments of 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 on the Property, if any, plus one-twelfrh of yearly premium installments for hazan:wnsurance.
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to time by Lender on the basis of ~'isessments and bills and reasonable estimafe~ thereof.
<br />The Funds shan be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />stale 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. llnless lender pays Borrower interest on the Funds and applicable la","
<br />permits I.ender to make such a charge. Borrower and Lender may agree in writing at the time of execUlion of Ihis
<br />Deed of Tr.ust that interest on rhe Funds shall be paid to Borrower. and unless such agreement is made or applicable law
<br />requires stich interest to be paid, lender shall not be required to pay Borrower any inlerest or earnings on the Fund... 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 />hy this Deed or Trust.
<br />If the amount of the Funds held by Lender. together with the future monthly installments of Funds payable prior to
<br />the due dates of faxes. a.'iSessments, insurance premiums and ground rents, shall exceed the amount required to pay said ta~cs.
<br />2:sse5sments. ins.urance premiums. and ground rents ,,'I. lhey fall due, such excess shall be. at Borrowers option, eirher
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />heid by Lender shall not be sufficient to pay taxes. assessmeni:s. insurance Picmiums and ground tents .:1S they fa!! due.
<br />Borrower shall pay to Lender any amount necessary 10 make up the deficiency within 30 days from the datt notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of al1 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 Property is sold or the ProperlY IS otherwise acquired by lender. lender
<br />shall apply. no later than immediately prior to the sale of the Property or ils 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. Applic.tion of P.yments. Unles.'i applicable law provides otherwise. all payments received by Lender under th~
<br />Note and paragraphs I 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 Note. Ihen to the principal of the Note. and then to interest and
<br />principal on any Future Advances.
<br />4. Ch_J'lft; Liens. Borrower shall pay all taxes. assessments and other charges. fines and Impositions atlributable to
<br />the Propeny which may altain 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 manncr. 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 Stich payments.
<br />Borrower shall promptly discharge any lien which has pnority over this Deed of Trust; provided. that Bor.rower shall not he
<br />reqUIred to discharge any such lien so long as Borrower shall agree in wrlring to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender. or shall In good faIth contest such lien by, or defend enforcement of such lien in.
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Propeny or any part-thereof.
<br />5. Huanllnsu~ce. Borrower shall keep the improvements now existing or hereafter erected on Ihe Property insured
<br />against loss by fire. hazards included within the term "extended coverage". anti such other hazards as .Lender may require-
<br />and in such amounls and for such penods as Lender may require: provided. that Lender shall not require that the amount of
<br />such coverage c:\ceed Ihat amount of coverage required to pay the sums secured by this Deed of Tmsr.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by lcnder: provided,
<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, it not paid in such manner. by Ronower making payment, when due, direcrly to the
<br />insurance carrier.
<br />All insurance policies and renewals Ihereol shall be in form acceptable 10. Lender and shaH include a standard- mongage
<br />clause in favor at and in form acceptable to Lender. Lender shall have the fight 10 hold the policies and renewals thereof.
<br />and Borrower shail promptly furnish to Lender all renewal notices and all receipts of paid prcmiums. 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 Borrower.
<br />Unless Lender and Borrower olherw"lSe agree in writ 109, Insurance proceeds shall be applied to restoration or repair of
<br />lhe Property damaged, provided such restoration Of repair is economIcally feasible and Ihe security of this Deed of Trust i:;;
<br />not thereby Imp8lfed. If such res'Ofalton or repair is not economically feasible or if the security of this Deed of Trusr would
<br />be ImpaIred. the insurance proceeds shall be applied to the sums secured by this Deed of Trust, with the e:c;ce..'\s. if any. paid
<br />to Borrower. If the Property is abandoned by Borrower. or if Harrower fails to respond to Lender within 30 days horn -the
<br />date notice is mailed by lender to Borrower that the Insurance ,;arrier offers to seule a claim for insurance benefits. Lender
<br />IS authorized to collecl and apply the insurance proceeds at Lender's option eilher 10 reslOration or repair of ,he Property
<br />or to the sums seclIred by this Deed of Tnlst.
<br />Unless Lender and Borrower otherwise agree 1I1 writing. any such appllc31lon o! proceeds to principal shall nor extend
<br />or postpone the due date of the monthly inslallments rderrcd to in paragraphs I and 2 hereof or change the ,amount 01
<br />'::ouch installments. If under paragraph I ~ hereol the Properly l~ aCl)uired by Lender. all right. title and interest of Borrower
<br />In and to any Insurance polICIes and 10 and 10 the proceeds thereof re!.ulllng from damage to the Property prIOr to Ihe sale
<br />or aC'Iuisition shall pass to Lenuer to the C\lent of Ihe sums :o.ecured by this Deed of Trust immediately ~)rior 10 ~uch sale or
<br />acquisition.
<br />6. Prescnadon and M.alntenance of Propert)': Leaseholds; Condominiums; Planned Unil Dellelopmenls. Borrower
<br />...h.lll keep the Property III good repan .wd shall nol I.:lHlHWt \l,a~le lH pcrnlll Imp.lirmcnl nr Jeterioralion of the Propcrt)
<br />.lOd shall comply WIth the proviSions of ,tny ie<lse if thiS Deed of Trust I~ 00 a leasehold. If this Deed of Trust IS on a unit in a
<br />.::ondominium or a planned Unit developmenl, Borrower shall periorm .tll of Borrowers obligations under the declaration
<br />llf covenants. creallng or governmg the I:ondominlum or planned unit dcvelopment. the by~laws anJ regulation... pf the
<br />condominium or planned UOIt development. and constlluent documenb. If a cllndominium or planned lInlt development
<br />nder is c:\ccuted by Borrower and recorded together wllh thIS Deed 01 frust, Ihc covenants and agreement~ of '\uch rider
<br />shaH be Incorporated lnll. and shall amend and supplemenl the cm-cnanh anu agre~mcnls of Ihls Deed of Tru...1 <.I... If Ihe nJcr
<br />were a part hereof.
<br />7. Protection of Lender's Securit)'. If Borro.....er falls to perform the covenants and agrecmenh contalOt:d In thi,
<br />Deed of Trust, or if ':lny action or proceeding 15 commenced which materially affects Lender's interest In the Propcn).
<br />mdudlOg, bur !lot limited 10. eminent domalll. inS01YCnC). (ode eniorccmenl, l)r arrangemenb or procecdlng~ In\-'lll\lng .1
<br />bankrupt or decedenl. then Lender at Lender's oprlon. upon notll:;:C 10 Borrower, may make such appearancc~, JI'th.ll\c '>lh:h
<br />'\ums and take such action as is necessary to protect Lenders Inlelcst. IOdudlllg. hut n(lt limited !l). t!t\hur,cnll,:nr ,\1
<br />fcaso.nable attorney'~ fees a,10 eOlry upon the Property 10 ma"'e repaIrs If f.,cnder r~4Ulrcd 1l1Oflgagc 111\\JI.Jn,c .1' 01
<br />condItIOn of makmg the loan ..cured O} IhlS Deed of rrust. Borru'Wcr "hall pay the preflHum~ reqUired III In.1I111.1,1j 'lkh
<br />lnsuram:c 10 effect un'd su\;h lllne a!. the requlremenl lor ~lIJ.:h ln~tlf.am.e ICfl111oatC"I In accordance wnh B"rrp....Cl' .i!lli
<br />'enders. WHiten agreement 01 ~ppliLablc la.... Borrower ~hall PH} lhe' ,unuUlll lIt oll! rnorl~agc iO\m.:Ull..'l.' Pf('flllll!1l\ ,r; lhl.
<br />manner prov~dcd under paragraph 2 hereof.
<br />Any amount!. dl~hurs.eJ b) l.endt;r pursuant to thIS paragr.iph 7. \\Ilh Interest thercPlI. \h,llI bt~~ui1le .ldd,]H'II.1
<br />lndcblt.>-tlncss. of Bono.....cr ~('\.urcd b) !hl~ D,,~cd of Tru~l. t:nle~\ Borro\locl' ,JnJ ll'llJcr .Jgrec to other h'tnl~ ul P<l\lllt:nl 'III f
<br />",lfIollnH, ,hall be payanle upon rWII~C IftHn LC:IIJcr III &\rrUWCl rcyUC'\llng pOi...nll:1l1 IhcICIlf. ;lI\d ..h.Jll !-oeM 1ll!1'1l;~! ,Ill
<br />date of disbursement ~t the rate p~lyablc from time to tlnte on l111I~t;HlJH\g rl'Ln~lp..l.l under lhe :"HllC lHdL'\~ payment .\1 I fl!l:rc.:' \
<br />.it SHieh rate would be ..:onllar} to .appil..:ablc la". H'l \.I.,hlch evenl 'IKh "mounl, ...h.ll1 heal .i!lUC,l ,II 11"1l' hiL:hnl r.ltt
<br />petmiu.ible under appllcabh: lav.,. ~O!hllig (ontamed In lhl~ p,tl<lgraph -: "h,lli IC'ylllf( Lcndt~1 ll' dhur ..Hi\ npcn~c ,It :a~l'
<br />an'.' adion }lt~reundt'.t
<br />. It lMpt-ctiun. 1 cndet may make 1.1( dlll!>C h' t't' m~de 1~:,l"Plt,lbk nltoc-, llfh.,n .Hhl :n',~'t:..;i<lil, ,)~ ~hc P'dp~j!\ p.,
<br />ihoat L~nd-ef ~hall gt~e U":)ffl,.",el nnlKe pflur h; .W) \11\.h In..~...ll,l!l '.~1'l';..dYlHg rc.n,'rub!.: \..Hi'L lh~.fl'k' .<I.It,'d 1
<br />ntt~C\1 III the p'rooen\
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