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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
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<br />.1. Payment of Principal and Interest. Borrower shalt 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, Funds for Tax.. and Insurance, Subject to applicable law or to a written waiver by Lender, Borrower sballpay
<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 rcnts 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 estimated initially and:.from
<br />~ime to ~ime by Lender on the basis of assessments and bins and reascnab!e est!me!e_s thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are- insured or guar3;nteed by a, Federal-.o~
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessmen.ts,
<br />insurance premiums and ground rents. Lender may not. charge for so-holding and-applying the Funds" analyzing _said accou",t
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower inter~t -on -the Funds and applicable.1aw
<br />permits Lender to make such a charge. Borrower and Lender may agree -in writing at the, time of execution of th,is
<br />Deed of Trust that interest on the Funds shall be paid to Borrower, and unless such agreement is made or' applicable Jaw
<br />requires such interest to be paid, Lender shall not be required to pay Borrower any interest-or earnin,s on- the-,Punds.,_ 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 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 optio~_, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the 'F,:l1nds
<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 up the deficiency within 30 days- from the date notice -is ,_mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in fulI 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 Propeny 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. Application of Paymen's. Unless applicable law provIdes otherwise. all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be al--died by Lender first in paym":nt of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof. then to interest payable on the Note. then to the. '.ncipal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Charges:; l.iens. Borrower shall pay all taxes. asses . ,.:-nts and other charges, fines and im;iOsitions attributable to
<br />the Property which may attain a priority over this Deed of Tmst, 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 shaIl 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 writing to the payment of the obligatiQn secured by
<br />such lien in a manner acceptable 10 Lender, or shall in good faith comest 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 Property or 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 Lender may require
<br />and in sllch amounts and for such periods as Lender may require; provided, that Lender shall 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 shaIl he chosen by Borrower subject to approval by Lender; provided,
<br />that such approval shaH not be unreasonably withheld. All premiums on insurance policies shan be paid in the manner
<br />provided under paragraph 2 hereof or, jf not paid in such manner, by Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renewals thereof shaH 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 :111 renewal notices and all receipts of paid premiums. In the event of loss,
<br />Borrower shaH give prompt notice to the insurance carrier and Lender. Lender may make proof of loss jf not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds ~hall be applied to restoration or repair of
<br />the Property damaged. provided such Tcstoration o~ repair is e<.;onomically feasible <lnd the security of this Deed of Trust is
<br />not thereby impaired. If such restorat:on or repaIr :s not economically feasible or Jf the security of this Deed of Tiust would
<br />be impaired. the insuram:e proceeds shall be applied to the sums secured by this Deed of Trust, with the excess, if any, paid
<br />to Borrower. If the Propcny is abandoned by Borrower, or if Horrower Cails to respond to Lender within 30 days from the
<br />dale notice is mailed by Lender to Borrower that the insurance carrier oilers 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 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 amounl of
<br />such installments. If under paragraph 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />in and lO any insurance policies and in and 10 the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender lO the extent of the sums secured by this Deed of Tf!Jsr immediately prior to such sale or
<br />acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit DeveJopments. Borrower
<br />shall keep the ProperlY in good repair iJnd shall not l.:lmHllit wa~lt: or permIt impairmenl or dr:lerior.uit,n of the ProperlY
<br />and shall comply with the provisions of ;:my 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 Borrowers obligations under the declara[ion
<br />or covenants creating or governing the condominium or planned unit deveiopment, the by-laws and regulations of the
<br />condominium or planned unit development, and constituent documents. I f a condominium or planned unit development
<br />rider is executed by Borrower and recorded together with this Deed (If Trust, the <.;ovenants t.1nd agreements of sllch rider
<br />shall be incorporated into and shall amend and supplement the nwenants and agreements of this Deed of Trust as if the rider
<br />were a part hereof.
<br />7. Protection of Lender's Security, If Borrower fails to perform the covenants and agreements contained in 1hi..
<br />Deed of Trust, or if any action or proceeding is commenced which materially affects Lemler's interest jn the Property,
<br />including, but not limited to, eminent domain, insolvency. code enforcerncnl. or arrangements or proceedings involving <l
<br />bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower, may make such appcaraIKt.:s, Jishur:-.c -such
<br />sums and take such action a.s is necessary to protect Lender's interest, including, hut not limited ro, disbursement l11
<br />reasonable attorney's fees and entry upon the Property to make repairs If Lend~r required mongagc insurance ,h ;l
<br />condition of making the loan secured by this Deed of Trusl, Borrower shall pay the premiums required 10 maintain such
<br />insurance in effect until such time as the requirement for such insurance terminatc~ in ~lccordan(:c with Borrower." and
<br />Lender's written agreement or applicable law. Borrower shall pay the ..IUount of all l11ortg3ge insuran(';c premiullls in the
<br />manner proviued under paragraph 2 hereof.
<br />Any amounts disbursed by Lender purs.uant 10 this paragraph 7, with Jlltcrcsi lhereon, shaH become additional
<br />indebtedness of Borrower secured hy this Deed of Trust. Unless Borrower and Lender agree to other rerillS of p..lymcnt, sll~h
<br />amounts shalT be payable upon notice from Lender to Borrower requesting p<lyrncnt thereof. and shall hear intcrCl'.l fWlll rhe
<br />date of disbursement at the rate payable from time to time on outstanding principal under the Nole unless payment of irllcn.'st
<br />at such rate would be contrary to applicable law, in whil~h event stll:h amounts ~h::dl bear interest at the hii!:hc:\t rale
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall require l.ender II) incur afl\" \;'XPt:llSC or w.ke
<br />any action hereunder. .
<br />8. Inspection: Lender may m~ke or.cause to be made reasonable cnLrjc~ upon anJ inspccti()n~ of the PrOptTty. prll\'ldctl
<br />(h.at L,co.der shall gave Borrower notice pnor to any such inspcl,:.tion ~pccifying rca:'i.onahlc C3USC therefor related to LenJer":-.
<br />Interest 10 the Prooenv.
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<br />84-003731
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