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r L I" 84-- 004339 UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: .I.. Payment of Principal and Inferest. Borrower shall promptly pay when due the principal of and interest on the indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest on any Future Advances secured by this Deed of Trust. 2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full. a sum (herein "Funds") equal to one.twelfth of the yearly taxes and assessments which may attain priority over this Deed of Trust, and ground ren!s on the Property. if any. plus one-twelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by Lender on the basis of assessments and biIls and reasonable estimates thereof. The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed-by a Fe_~e:ral--,?r-' ~tate agency (including Lender if Lender is such an institution): Lender shall apply the Funds to pay said taxes, assessment.C>. Insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds. analyzing said- account or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Punds and applicable -law permits Lender to make such a charge, Borrower and Lender may agree in writing at the time- of executjon--of this Deed of Trust that interest on the Funds shalT be paid to Borrower, and unless such agreement is made or app.lkab1e:_: Jaw requires sllch interest to be paid. Lender shall not be required to pay Borrower any interest or earn'ings'on-the Funds. ;-Lender shaH give to Borrower. without charge, an annual accounting of the Funds showing credits and debits to the 'Funds-and-the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for -the sums' secured by this Deed of Trust, . Tf the amount of the Funds held by Lender. together with the future monthly installments of Funds payable prior to [he due dates of taxes, as..."\essments, insurance premiums and ground rents, shall exceed the amount required to pay-said taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's_ optionl _either promptly repaid to Borrower or credited to Borrower on monthly instaUments of Funds. If the amount of the- Funds held by Lender shall not be sufficient to pay taxe~. assessments. insurance premiums and ground rents -as they fall:'due. Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice-is-mailed by Lender to Borrower requesting payment thereof. Upon payment in full of all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower any Fim-cfs held by Lender. If under paragraph 18 hereof the Property is sold or the Property is otherwise acqu~red by Lender. Lender shall apply. no later than immediately prior to the sale of the Property or its acquisition by Lender. any Funds held by Lender at the time of application as a credit against the sums .secured by this Deed of Trust. 3. Applicadon of Payments. Unless applicable law provides otherwise, all pr.yments received by Lender un~er the Note and paragraphs I and 2 hereof shall be applied hy Lender first In p~ ~.;nt of amounts payable to lender by -Borrl.1wer under paragraph'! hereof. then to interest p<lyable on Ihe Note, ther i t principal of the Note, and then to interest and nrinC'ln~1 nn ~n'-' Fntl11"P- An1,l~"'--'p" ,._m.(,~-Ch~;g~:--Li~;;;. -B~-r~~:-;; ~hall pay allt.ne5. ;)~essmcn\s and other charges, fines and impositions auributable to the Property which may attain a priority over this Deed of Trust, and leasehold payments or ground rents~ if -any. -jn the manner provided under paragraph 2 hereof or, if not paid in sllch manner, by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish to Lender all nOllces of amounts due under this varagraph, and in the event Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrower shaH promptly discharge any lien which has pnority over this Deed of Trust: provided, that Borrower shall not be reqUired to disl:harge any 'Such lien so long as Borrower ..hall agree in '''''fiting tt.1 the payment of ti';;; obligation-secured -by such hen in a manner acceptable in Lender. or s.halllll good failh contest such lien by, or defend enforcement of such lien in. legal proceedings which operate tl) pn'vent Ihc ~ntor-ccmen[ of the lien or forfeiture of the Property or any pan thereof, 5. Hazard losursoce. Borrower ~hall keep ihe improvements now existmg or hereafter erected on the Property insured .tgamsl J()')S by fire. hazards included within the term .'extended <..:ovcfuge'., and such other hazards as lender may require and m ~uch amounts ;',lTld for such penods ,tS Lender may reqUire; prm.'iucd, that Lender shall not require that the amount of 'luch coverage c:\cccd that amount of coverage r~qlllrC'd 10 pay the sums sc-cured by this Deed of Trust. The iasurancc i..:arner providing lhe in:mrancc .,hall he l-hosen by Borrower subject to approval by Lender: provideu, fhat such approval shall not he unreasonably withheld, All premiums on insurance policies shall be paid in the manner provided under pard.grapb 2 hereof ur, if not p-+Jid in such manner, by Borrower making payment. when due. directly to the insurance carrier. Ail jnsuranc~ pohci~s .mu renewals lhen:ot ~hail be In 10r01 acceptable III Lender and shall include a standard mongage clause in favor ot 3nd in form a(,;{.'eptablc 10 Lender. Lender "haH have the right to hold the policies and renewals thereof, and BorlOwer :shall pfl.mpily lurnis.h to l.cnJer all renewal nO(Ke~ and ali receipts of paid premiums. Tn the event of loss. Borrower shaH give prompt nOllce lu lhe Insurance carner and Lender. Len\Jer may make proof of loss if not made promptly bv Borrower. . Unless LenGel and ll-oIrowcr ntherWlse agree In wflllllg. Ini-uran..:e proceeds shall be applied to restoration or repair of Ihe Property damaged, p!o\rided ~u(:h .e~[\H'atloll \)f r~p.i!r IS c(unol11l(uHy feasible and the security of this Deed of Trust is !lot thereby impalreJ, If ,>u..:h ~sfOralH.m (.\r repaIr l~ nol \.'couomi(:aHy feallolbJe 01' if the sc(:urity of this Deed of Trust would be Impaired. {he IOsuran<..:c pflx:eeJs ~haH be applted io the SlHll'i; ~c(:ured by this Deed of Tmst, with the excess. ii any. paid to Horrower. If the ProperlY is ;jba.nJon~d hy BorhW.-cr. Iff It Borrt..hvcf f;jib;. to n:sp\md to Lender within 30 days from the Jate 11I)1I..::c is. mailed by Lender {O Bono\ol.cr that the mSUfan(C ..:arner otTers. to settle a claim for insurance benefit~. Lender IS- authoriud h.\ ..:oliel,,:i and ;ipply the insuran;.;~ rlO..:c~d~ at 1 cndL'r"s oplion either to reslomtion or repair of the Property or to the sum:,> sci:un..'d hv thiS Dee...1 of TnIM. Unless Lender and BOfft..)Wel ;)(hcrWISc ;lgrce III wntlng, dll] .~lli.:h application of proceeds to principal shall not extend l)l" t~)s{JX)nc (he dUI: Jate \.)t the Illonthly im,tallmclllS retcrred h) III paragraphs 1 :illd 2 hereof Of change the amount of such installmc-~H~. l{ unJet p~ragraph IS hercnl the Profl\:lt~ 1\ ;1~411lfcJ hy L\.~nder. ~dl right. title and interest of Borrower III .md h-'..Ul}' lrl::..ur.UKC p\JilC1C::. and In and to the pr4,.)"':ccos ther~l)1 rC~Lllll.ng trom ~ilmagc to the Propertr prior tn lhe sale ~'r J.cqms,Hlon ~hJ.!! pa~s IG Lender ll} the cxtent ;.}1 the ~um5 :e:.;.'\.-ul.:d hy thIS Dc~d 01 Trust immediately prior to SlKh sale Ot _IC4UisitIOU. 6. Preserullion and Maintenance of Properly; Lt.'"1lS\'-hoJds: Condominiums. Planned lJnit Del'elopments. BOrfo\"'-cr ,hall kc\.'p [he Prllpcny III g0l..'d n,'pollf ,111(1 ,hall not commll v..lsIC 1\J pnnw llllp.unnl'nl or dctcrillratJ\m of the Property dOJ shaH curnply with the pro\'isioru. (\f any lease If this Deed ltf Tru.:.1 1:-. on .1 kaschold, If this Ol.-ed of Trust is on a unit in a (0ndOlnimum or a planned unit development, Borro.....er shall pctiorm all of Borrower's ohligations. under the declar.lllun or co\.'enants creating llf gl.)'..crning the ;:ondominium \)r pbnneJ unil development. [he hy~taws and regulations of the -.::ondominium or planneJ unit development, ~nd (ul1s.1ituenl dtxumcnts. If a t:ondominium l)[ planned unit d\:velopmcnt rider i~ c\.ccu[cd hy BOrrvWl:f ,:mJ rc~ordc-J togclhc! \~ lIh thl~ f)~ed llf 1'ru:-,!, the ~o\'cn~nts .mJ ,tgrcc'~mellls l)f slIl.:h ridel shaH be tn':l)rpuf~Hc-J lutl) ~tnd :ionall amt.:nJ anJ :-.uppl~mcll! [he L'uv.:ll<lnb and agl'e~ment~ lit InlS DccJ ld Tnl\t a~ If the ridcl: were a part hereof. 7. Protection of Lt'oder's Securit~,. if BOfli..)\\-(:f tails to pcdnrm Ihe cownanls and agrci.:mcnt~ ":i.\1l13l!lCJ in lhi~ Deed of Trust, or it any ~ldll\n Of prl..).:eeJmg i~ ..:U-llHnelll.:cd whtch materially alTt:"\:ts LenJer\ interc::.t In the.' Prl\pcrty. l!1cluding. but not lirlllted to. eminent domain. in~ol\'cn~~. ;';~)-lk enforcement, or :af.!ngcmcnb l)r procL:cJing:-. 111\ olving a bankrupt 01' de.:cdcnt. then Lender at Lender's Qprion, upon lhJtiL"t' (\J BUrrl)Wcr. Illay make s-u~:h app(:;ir.:1n(~~_ di\hur~L" C'ou...:h sums ~nd :akt' such i.lctiC'1l as is nc(:e~s.ary tL) protcC( I.cnJer\ 1IHCI 1;;:::.1 , induJlng, r-U[ !ll)! hmi::cd to, Ji:iblll:-'Clnellt ,1i rc-ason<lblc aJIUmey'~ fec~ and entry upon the Prvpcn) !p Jlla~l.: rcp<-.tlr.., If L(nJl'r n:~llircJ lllongagc in,'ou..Uh:t: .1\ condition l~f making the loan sccun.'-d by this Deed i.}f Trust, HOIW\-\Cf :-.hdlj P;l\ !h~ prt.:lJ\illm~ reylJlreJ til m;~illt.tin lIlsurancc in effed until such time as [he requirement for ~ll..::h )n~uraIK~ ll.'r!lJ;n<.!(~') in ,h:t.:nnhuh.c Vo'ilh Hl\n\)I,l,-cr\ Lcnder\ wriuen agreement er applicable l~t\\ ROrrO\lCr \hall pa~ lhc ,lllil-'ll:ll I,f ,Ill !llOilg.agi; ilbUf;:I!l1...t' pfl..miullb in In!.' manner provided under paragraph:! hcrCt.)f An}' amounts. disbursed hy LenJ~r pmSU<ifH hI 11m, p;trJgr,.ph -: v, ,lh '!lIt O.....l thc,~!'I..,\ll. ,h.d! h;I.',1111t.' ,hlJltllin.l; lIldebtedness of B('trrow\.~r sc\'ured hy thi~ D~ed (If Trul-~ t'lIh:.;;~ BOfTOV.t.'i ,1l1...1 J (.'l\u\.~r al;fi."I.' [I' \lthl..'f !nHII, \,1 pa)!lH:llt.. ~lkh ;),mounl~ ..hatl he payable upon I)f)tit..:c fr\)m lender 10 HUI fQWr:r re4u\.~~ting jJ.\Y:1\l:'!\t !he!'l','L ilnd 1>haH he,ll inll:n:...! U\"~1 !iw date of disburstmcnt ~It the rate pay.lble fwm timc'. h' tlm~ l'H '~\lblallding l'rint.'!p;tI \!rHh:r- the '.;l)!\" Ul\k:-;~ pa) m\.~ni ,'I inkfi.':-,! ilt sut.:h rate would he nH\lr~lry II) appli":<ihk 1~1"\, in ,~hl..:h ('ven! '.(,\.h anwun:,_ .,~1.l(! ht.~;if ;i1h-n...~! .\, !hL' h\~hc.,l r;~l(' pe_~missible under applkilble hn'- Suihillt; ,dnUlllL'd '(1 \iw.. p-.\1;1g!~lph .., ,,-h.-o;~ l'-'-iU;~~' ! codel 1,- :n~'ur ,11'1\ t'\f)"~Il\e \'1 l~\k\. }tOY fiction hcreUlluec s. 11l.'.PKtion. Lender m<ty fH.\;..C "1, .W....l' In 1'0: fl\a~k !:',t"['i1dhle P'''''~'''f1'' Ih,H Lender shan giVt' n(Jrf(w,'t'r !l\l!k-C prli)r h) ,ln~ Hh:h ,0:.\-"<..\:11'-'0 ~r~"'lt,lfIg ,'l,l:c.l i.' ~i1fNt'5t in the IJ.rover1Y 84.-- OO,1;J;W