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<br />84,.......' 002893
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
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<br />-1. P.Ylllent of Prineiplll and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and latc 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. Fullds for Tn. amlllmIl'llnce. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly installments of principal ::md 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~twelfth of yearly premium installments for hazard insurance.
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estjmated initially and from
<br />time lo 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 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. Borrower and Lender may agree in writing at the time of execution of this
<br />Deed of Trust that interest on the Funds shali be paid to Borrower. and unless such agreement is made or applicable law
<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 accollnting 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 />bv this Deed of 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 taxes. assessments, 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 not be sufficient to pay taxes. assessments. insurance premiums and ground rents as they fall due.
<br />Rorrower 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 aU sums secured by this Deed of Trust. Lender shall 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 />shaH 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. Application of Payments. Unless applicable law provides otherwise. all payments received by Lender under the
<br />Note and paragraphs I 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 Lcnder all notices of amounts due under this paragraph, and in the
<br />event Borrower shall make payment directly. Borrower shall promptly furmsh to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority 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 wrh;ng to the payment of the obligation secured by
<br />stich lien in a manner acceptable to Lender. or shall in good faith contest such lien by, or defend enforcement of such lien jn.
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of [he Property or any part thereof.
<br />s. Hazard Insunace. Borrower shall keep the Improvements now eXIstmg or hereafter erected on the Property insured
<br />againsl 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 shan not require that the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Deed of Trust.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender: provided.
<br />that such approval shall not be unreasonabJy 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 thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable 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 aU receipts 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 Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged. provided such restoration or repair is economically feasible 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 shall be applied to the sums secured by this Dced of Trust, with the excess, 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 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 of the Property
<br />or to the sums secured by this Deed of Trust.
<br />Unless l.ender and Borrower otherwise agree in writing, ;-lny such application of proceeds to principal shall nol extend
<br />or postpone the due dale of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
<br />such installments. If under paragraph I B hereof the Properly is acquired by Lender, all right, title and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the extent of the sums secured by this Deed of Trust immediately prior to such sale or
<br />acquisition.
<br />6. Presenadon aDd MaiatenaDce of Property; Leaseholds; Condominiunts; Planned Unit De'Velopntents. Borrower
<br />shall keep the Property in good repair and 5hall nOI comllllt Waste or perllllt impairment or dcterioration of the Property
<br />and shall comply with the provisions of any lease jf this Deed of Trust is on a leasehold. If this Deed of Trust is on a unit in .a
<br />condominium or a planned unit development. Borrower shall petform all of Borrower's obligations under the declaration
<br />or covenants creating or governing the condominium or planned unit development, the by-laws 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 logether with this Deed of Trust, the covenants and agreements of such rider
<br />shaH be incorporated into and shall amend and supplement the I.:ovenants and agreements of this Deed of Tru~t as if the rider
<br />were a part hereof.
<br />7. Protection of Lender's Security. If Borrower fails to perform the CQ\lCnalllS and agreements contained in this
<br />Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Property.
<br />including. but not limited to, eminent domain, insolvency, t.:ode enforcement. or arrangements or proceedings involving a
<br />bankrupt or decedent. then Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such
<br />sums and take such action as is necessary to protecl Lender"s interest. including, hut not limited to, disbursement of
<br />reasonable attorney's fees and entry upon .the Property to make repairs. If Lender required mortgage insurance as a
<br />condition of making the loan secured by thiS Deed of Trust, Borrower shall pay the premiums required to m.untain such
<br />insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and
<br />Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, wah interest thereon, shall become additiollal
<br />indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of paymenl, sUl:h
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, ~~nd shall hear interest from the
<br />date of disbursement at the rate payable from time to time on outslanJing principal under the Nare unless payment of inlerest
<br />at such rate would be contrary to applicable l~w, in wh.ich event "uch amounts ..,;hall hear interest at the highest rate
<br />permissible under applicable law, Nothing COOt31OCd III thiS paragraph 7 shail n~4Ulre Lender 10 Incur any expense or take
<br />any action hereunder.
<br />8. ~. Lender may mak.e or cause to be made rea~onable clHrlC::. upon Jl1ll lI1SpCCllOllS 01 the Property. rruvlJcu
<br />that Lender shall give Borrower notice pnor lo any such inspectIOn :>peciiYlllg rca~ondble caw,(: th~rcior related r,) LenJcr":\
<br />IOtera.t in the Prooertv.
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