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<br />84 ---...003615
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />.1. Payment of Priocipal and Interest, Borrower shall promptly pay when due the principal or 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. Funds for Tax.. and Insurauce, Subject to applicable law or to a written waiver by Lender. Borrower shall pay
<br />to 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-twelfth of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium installments for mortgage insurance, jf any, all as reasonably estimated initialJy 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-jnsured or guaranteed_-by a Fedeialpr,
<br />state agency (including Lender if Lender is such an institution), lender shall apply the_Funds to pay said taxes, 3_sses5;l11;ents.
<br />insurance premiums and ground rents. Lender may not charge for so holding and -applying the-Funds, _ analyzing sajd-'ac~o~nt
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on,the Funds and app.lil::able laYo:'
<br />permits Lender to make such a charge. Bar:rower and Lender may agree in writing at the time of - e)(~ution of: this
<br />Deed of Trust that interest on the Funds shall be paid to Borrower, and unless stich agreement is made- or applicable:Jaw
<br />requires such interest to be paid, Lender shan not be required to pay Borrower any interest or earnings on the Funds. 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 />by this Deed or Trust.
<br />If the amount or the Funds held by Lender, together with the ruture monthly installments or 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 Ihey fall due, such excess- shall be, at Borrower's opti,on,. either
<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 shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents'as they:- fall _due~
<br />Borrower shall pay to Lender any amount necessary to make lip the deficiency within 30 days from the date notice, is maHed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all 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 Ihe Property is otherwise acquired by Lender, Lender
<br />shalJ 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 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, Ihen ... the principal of the_ Note, and then to interest-and
<br />principal on any Future Advances.
<br />4. Charges; Liens. Borrower shall pay all t<P'_cs. a:'~. .incnts and other charges, fines and impositions attributable to
<br />the Property which may attain a priority over this Deed (H Trust, and leasehold payments or ground Tents, if any; in the
<br />manncr provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making paymetit. when due, directly
<br />to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and incthe
<br />event Borrower shall make paymenl ,lirectly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Deed of Trust; provided, that Borrower shaH not be
<br />required to discharge any such lien so long as Borrower 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 sllch 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 Property Of' any part thereof.
<br />S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire. hazards included within the term "extended coverage"', and such other hazards as Lendc-r 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 /><;'lIch 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 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 thereof shall be in form accept.able 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 Holices and all receipts of paid premiums. In the event of Joss.
<br />Borrower shall give prompt notice ttl the insurance carrier and Lender. Lender may make proof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower tltherwise 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 Trusl is
<br />not thereby impaired. ]f such restoration or repair is not economically feasible or jf the security of this Deed of Trust would
<br />be impaired, the insurance proceeds shall be applied to the sums secured by this Deed of Trust, with the excess. if any, paid
<br />to Borrower, If the Property is abandoned by Borrower, or jf 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 daim for insurance benefils. Lender
<br />is authorized to collect and apply the insurance proceeds ~tt Lender's option either to restoration or repair of the Property
<br />or to the sums secured bv this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments, If under paragraph IS hereof Ihe Property is <.Icquired 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 />O( acquisition shall pass to Le-nder to the extent of the sums secured by this Deed of Trust immediately prior to such sale or
<br />acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />shall keep the Property in good repair and shaH not l.:Oll1mjt waste 01: pcrnllf impairment or deterioration of [he Property
<br />and shall 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 />~unJolUilliUlll or <J. piallflt::o Ullll ucveiopmclll, borrower sn~UI f->CIioflll <Ill o{ nUIIUWej -:, uuiigiUJ\!ih unJtl lfh: JC\..I<1I<1l;vJI
<br />or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the
<br />l.:ondominium or planned unit development. and constituent documents. If a condominium or planned unit development
<br />rider is executed by Borrower and recorded together wilh thj~ Deed or Tru!)t, the covenants and agreements of slIch rider
<br />shall be incorporated inw and shall amend and supplement the co\'cnanls HtH.1 agreements of this Deed of Trus.[ a;s if the rider
<br />were a part hereof.
<br />7. Protection of Lender's Security, If Borrower fails to pcrh'"<rm the covenants and agreements contained in this
<br />Deed ~[ Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Property.
<br />mcludmg, but not limited to, eminent domain, insolvency. ;"":odc enforccmc:nt. or arrangements or proceedings involving ~\
<br />bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower, may make sllch appearances, dlsbllr~c $0..:11
<br />sums and take such action as is nec~sary to protect Lender\. interest. including, but not limited w, di~hur:s.c:rnclll cd
<br />reasonable attorney's fees and entry upon the Property lo make repair::;. If Lender required mortgage insurance ~l!\ a
<br />>.:-ondition of making the loan secured by this Deed of. Trust, Bor.rowt'f shall pay the premiums required to m;lintain ~.;ut:h
<br />Insurance in effect until such time as the requirement for such lllsurancc !erminatc~ tn accordance wnh Borrower's and
<br />l.ender's written agreement or applicable Jaw. Borrower shaH pay the amount of ~l! rnortgage lo.surance premiums in On;
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender purSUJrH 10 this paragnlph 7, with interest thcr~on_ \hall becol11e additH'lIal
<br />indebtedness of Borrower secured _~y t~is Deed of Trust. Unless Borrower and I t.:ndcr agree t;.l other IcHnij of pt-tj'lnI:'IlL ~uch
<br />amounts shall he, payable upon notl<:c from Lender to Borrower requcstHlg paymcT1! lhercot. iHld s-h~l!f be_lit' interest from the
<br />dale of disbursem~nt at the rate. payable from lJmt'" to tiltH:: on outstanding principal under the NOlt~ unless payment of inh:rc~li
<br />at such fate would ~c comrary to applkabk law, in whkh event .-.tlch an1(lunh ..hall he,H mtt~rl'<;! ,~1 the hIghest rafl'
<br />permissible tinder app1i('abh~ law. Nothing contained !n {his parllgraJ)h 7 "h;\J; n::qUifC Lender In im:ur ,HI\" npcnsC' or lak-c
<br />any action hereunder, .
<br />8. 1Q.tpe<1lon~ Lender may m~kc Of.'-,;JHSi..' 10 l~\.', ma~c refJ",_~nahlc .:nlnc"- upon ;lnd
<br />lh.at Lender ~hall 'live BOfwwcr lli)tl\:(; poor 10 liB't :.u..:h Jt1:;,r)t-X:tH-'fl :-.pc-..:ifvwg fL;;I~,'n,1hk
<br />:n1~res1 i.o the PrODert\' , ~
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