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<br />84~
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<br />003401
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<br />UNIFORM COVENANTS. Borrow.r and lender co"'lIfnl and agree as follows:
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<br />t, Payment of Prlntlpal and Intereo!, Borrower shall promptly pay wh.n du. Ihe principal or and interc,' nil Ihc
<br />Indchtcdncs.'.l eYldenced by the Note. prepayment and late charges as provided in the Note, and the principal of :lnd intcre~l
<br />on any Future ^Jvance~ !ilt."Curcd by thi, Deed of TnHiL
<br />%. Fund! for Tax.. and IMUflluce. Subject to applicabl. law or 10 a written waiver by lender, Borrower shall pay
<br />10 Lender 0': the dltY monthly Installments of prmcipal and interest are payable. under the Note. until the Note is paid in full.
<br />a stirn (herem "Funds") equal to one~twelfth o! the yearly taxes and asses.sments which may attain priority over thi~
<br />Deed of Trusl, and ground rent~ on ~he Property, It any, plu~ o!"e-twelfth of yearly premium installment~ for hazard insurance.
<br />~Ius onc~twelfth of yearly premfU".' Installments for mortgage lO~urance. if any. all as reasonably estimated initially and from
<br />tlme III ttme by Lender on the ba~us of aueument~ and bil1!l. and r~~!U"n!f:tl~ ~s!jma!t'! thereof.
<br />1bc Fund!i sh3~1 be held i~ an institl;ltion the d~~its. or accounts of which are insured or guaranteed by a Federal or
<br />~tare agency (iO~ludmg Lender If Lender IS such an institutIOn). Lender shall apply the Funds to pay said faxes. asses.fi.mcnts.
<br />Insurd!'lc~ premium.. a,!~ grou!'d rents. Lender mar. not charge for so holding and applying the Funds. analyzing said account
<br />or ve!1fymg and complhng saId asseumenfs and bills, unles!t lender pays Borrower interest on the Funds and applicahle law
<br />pemua I coder to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Decd of Trust that interest on Ihe Funds shall be paid to Borrower, and unless such agreement is made or applicable Jaw
<br />requirec; such interest to be paid. lender s.hall not be required to pay Borrower any interest or eamin,s on the Funds.. Lender
<br />shalf give to Borrowcr, withoul clmrge. an annual accounting of the Funds showing credits and d.btts to the Funds and the
<br />purpose for which .ach debit to the Funds was mad., The Funds are pledged as addilional security for the sum. secured
<br />bv lhls Deed of Trust.
<br />If thc .mount or Ihc Funds held by l.end.r, togetb.r with the future monthly installments or Funds payabl. prior to
<br />Ihe due dales of tax~. a~Clj,sment't. Insurance premium~ and ground rents. shall cJtceed the amount required to pay said taxes.
<br />assessmcnh. insurance premiums and ground rC'n1~ as they (all due. such excess shall be. at Borrower's option. eirher
<br />promptly repaid 10 Borrower or crediled to Borrower on monthly installments of Funds. If the amount of Ihe Funds.
<br />held hy Lender shall nol be sufficient to pay taxcs. a.sSC!!isments. in!;urance premiums and ground rents as they fall due.
<br />Borrower shaH pay 10 lender any amount necessary 10 make up rhe deficiency within 30 days from the date notice is mailed
<br />by lend.r to Borrower requesting payment thereof,
<br />Upon payment in rull or all .ums sccur.d by this Deed of Trust, l..nder shall promprly rcfund ro Borrow.r any Fund.
<br />h.ld by l.ender. If und.r paragraph 18 hereor Ibe Property" sold or thc Property is oth.rwise acquir.d by l.ender, l..nder
<br />shall apply. no latcr than immediately prior to the sale of rhe 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. App\kadon of Payment., Unl... applicable law provides olherwise, all paym.nts received by l.nd.r und.r the
<br />Note and paragraphs I and 2 h.reof .hall he applied by Lcndcr first 111 paymenr or amount. payable to lender by Borrower
<br />under paragraph 2 hereof. (hen to !nterest payable on the lte. then (0 the principal of the Note, and then to in1erest and
<br />principal on any Future Advances.
<br />4. Ch...es; Liens. Borrower ,hall pay all taxes. a'iSessment~ and other charges. fines and impositions attributable to
<br />,he Property which may altain a priority over this Deed of Trull, and I.asehold payments or ,round =t.. if any, in the
<br />manner provided under paragraph 2 heft'~~ or, if not paid in slIch manner, by Borrower making payment, when due, directly
<br />to the payee chereof. Borrower shall promptly furnish to under an notices. of amoun~s due under chis paragraph. and in the
<br />event Borrower shall make payment directly. Borrower shall promptly furnish Co 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 shaH 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 conlest such lien by. or defend enforcement of slIch lien in.
<br />legal proceedings which operatc to prevent the enforcement oC the lien or forfeiture of che Property or any part thereof.
<br />5. Hezant lnaun:ace. Borrower shall keep the improvements now eXIstmg or hereafcer erecled on the Property insured
<br />against loss by fire. hazards included within the lerrn "extended coverage". and such olher hazards as Lender may require
<br />and in such amounts and for such periods as Lender may require: provided. (hat Lender shan not require that rhe amount of
<br />such coverage exceed that amount of coverage reqUIred to pay the sums secured by Ihis Deed of TmsL
<br />The insurance carrier providing rhe insurance shalt be chos.en by Borrower subject to approval by Lender: provided.
<br />tba~ such approval sball not be unreasonably withheld. All premiums on in.uranc. policies .hall be paid in lhe manner
<br />provided und<;r paragraph 2 hereof or, if 1101 paid in such mal1ner. by Borrower makinl payment, when due, directly to the
<br />tMUUnce camer.
<br />All insurance policies and rene-wals thereof shall be in form Icceptable (0 Lender and shall include- a standard mortgage
<br />clause in (avor of and in (orm acceptable to Lender, lender ~hall have the right to hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish to lende-r all renewal notices and aU roceipls of paid premiums. In the event of loss.
<br />Borrower shall give prom pi notice to the insurance carrier and lender, LenJe-r may make prooC of 101$ if noC made promptly
<br />by Borrower,
<br />Unless lender and Borrower otherwise agree in wriling. insurance procee~$ shalt be appljed t~ restoralion or repair of
<br />the Property damaged, provid.d .uch resloration or reparr IS economically feaSlblc :lOd Ih. security of this Deed of Trust is
<br />nOI thereby impaired. If such resloration or repair is nol economically feasible or If the security of thk Deed of TrUSl would
<br />be impaired, the insurance proceeds shall he applied to the lums secur.d by this Deed or Trost. with the e.c..., if any. paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to r.spond 10 lender within 30 days from the
<br />date notice is mailed by Lender 10 Borrower that the insurance carrier offers to seule a claim for insurance benefits. lender
<br />is authoriz.ed to coUecc and apply che insurance proceeds at lender's oplion eilMr to restoration or repair of Ihe Property
<br />or to the sums secured by this Deed of Trost,
<br />Unl... Lender and Borrow... olherwise agree in writing. any such application of proceeds to principal shall not extend
<br />or postpone the due: date of t~ monthlv jn~t.U~nts ft!::fe:rred 10 in par"granhs land 2 hereof or change the amount of
<br />~uch install~ts, If unG"r ,paragraph 18 hereof ,he Property i. acquired by lender, all right, Htle and interest of Borrow~r
<br />In and to any tn.surance poliCies and in and 10 the proceeds lhereof fQuiltng ffom damage to lhe Property pnor 10 the sate
<br />or acqui.ition .hall pass to Lender 10 the e.tent of the sums secured by tbis Deed of Trusl immediately prior to such sale or
<br />acquisition.
<br />6. l'raen1llloa _eI MaIa_ce of .........r1y; Le_boIds; CoacIomJDiD_ P1uaed UDlt Devdopmentl. Borrower
<br />shall keep the Property in good repair and shall not commit wast. or permit impairment or deterioration of the Property
<br />and sbalI comply with the provisions of any lease if this Deed of Trust is on a l.....hoId, If this Deed of Trmt is on a unit in a
<br />condominium or a planned unil d.velopment. Borrow... shall pedorm all of Borrower'. obligation. under the d.c1aration
<br />or covenants creatinl or /IOvemin. the condominium or planned unit. development, the by-laws and regulations of the
<br />condominium or planned unit development, and cOOllituent documents. If a condominium or planned unit development
<br />rider is execulCd by Borrower and recorded to..ther with this Deed of Trust. the covenants and agreements of such rider
<br />.baI1 be incorporalCd inlo and shall amend and supplement the covenanrs and agreements of t1,is Deed or Trust.. if the rider
<br />...ere a pert hereof,
<br />7. Protedloa of Leader'a Seemly. If Borrow... rails to perIorm the coyenants and agreem.nts contained in this
<br />Deed of Truat, or if any action or Proc:eedinl i. commenced which materially affects Lender's interest in the Property,
<br />including, but notlimilCd to, eminent domain. insolvency, code enfo=men~ or arrangements or proceedings involving a
<br />bankrupt or deceI1enl. then Lender atlender's option, upon notice to Borrow.... may make .uch appearances, disbu.... such
<br />sums and ts.ke such action u is necesury 10 protect Lender's inleresl. including, hut nol Iimired to. disburiemenr of
<br />_able attorney's f_ and entry upOn the Property to make repairs, If lender required mortgage insurance as a
<br />COlIditlon of tnaklDJ the loan -..red by this Deed of Trusl. Bol'TOWCr sban pay the premium. required to maintain such
<br />i_ iD elfect utlti! such tillle u the requinoment for such insurance terminates in accordanc. with Borrow.r's and
<br />Leadu.....rille.n.~ or awlicablelaw, Borrower shall pay the amount of all mortgage insu.l1UlCC pr.miums ill th.
<br />~ provided under pan....pIi 2 hereOf.
<br />AI1Y. ... _ diIblIned by Lellder JlO.n. uanl 10 thi. paraara. ..Pft pit 7. with interesl theteon. shall become additional
<br />indob(od_ of Borrower secured by thia Deed of Tl'lJlt. Untea Borrower and lender al"'" 10 other tenns of payment. such
<br />alt\O\!ltts shall be payable upon notice from Lender to Borrow... requestinl payment tben:of. and .hall bear inte....t rrom the
<br />elate of dllbut'lClMllt. at tbe rate payable from time 10 lime on outllandinl principal under the Note unleos paymenl of int.rest
<br />al auch rtte would be cotIlrary 10 appIlul>Ie law, in which e~1 such amounts shall bear inlen:sl at the hilhest rate
<br />penttlaRble under app\k:able law, Notblnl contained in this paraaraph '.ball require ,LetId... to incur any expenae or take
<br />afty aetion beroullder,
<br />.. I1IlIpec1loL f..cnder may make or cauae to be made reuonable entries upon and impe.;hons of Ihe I'ropcrty, pro,jded
<br />tbat Lender tball Jive 8ort'QWer nork:cl prior to any _b illlpection .pecifyinl reasonable cause the....for rel.,ed '0 lender'.
<br />,nterear in lhe Prooenv.
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