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<br />84 - 004600
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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 c;hall 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 Taus and Insurance, 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-tweifth 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 estimated initially and from
<br />time to time by Lender on the basis of assessments and biHs 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 shaH apply-the Funds to pay said taxes, assessrrients~
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing,said--aecount
<br />or verifying and compiling said 3...l;j,sessments 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 shall 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 FUl)ds. Lender
<br />shaH 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 sum. secured
<br />by this Deed of Trust,
<br />If the amount of the Funds held by Lender, together with the future 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 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 faU 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 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 the Property js 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 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 pilymr..,t of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note. then to the p(. lcipal of the Note, and then to interes[ and
<br />principal on any Future Advances.
<br />4. Charges; Liens. Borrower shall pay a;i taxes, :1"--'it;:ssment:; :.; ;_ other charges, fines and impositions auributable to
<br />the Property which may attain a prioritY over this Deed of Trust. and leasehold payments or ground rents, if any. in t..l1e
<br />manner provided under paragraph 2 hereof or, if not paid in stich 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 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 writing to the payment of the obligation secured by
<br />such lien in a manner acceptable 10 Lender, or shall in good faith contest 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 />5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire. hazards induded within the term "ex.tended 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 shall not require that the amount of
<br />such coverage ex.ceed that amount of coverage required to pay the sums secured by this Deed of Trust.
<br />The insurance carrier providing ihc insurance shaH 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 jn 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 />A!! insurance policies and renewals thereof ~hali he in form acceptable to Lender and shall include a siandard mortgage
<br />dause in favor of and in form acceptable to Lender. Lender shall have the flght to hold the policies and renewals thereof.
<br />and Borrower shaH promptly furnish to Lender ::111 renewai notices and all receipts of paid premiums. In the event of loss.
<br />Borrower shaH give prompt notice to the insurance t:arncr and Lender. Lender may make proof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower \Jlherwi~e agree in writing. insurance proceeds shaH be applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair 1:-. economically icasiblc and the security of this Deed of Trust is
<br />not thereby impaired. If such restoration or rCptUf is nut eC{)(lOmic~liiy feasible or If the security of this Deed of Trust would
<br />be impaired. the insurance proceeds shall be applied to tl,e sums secured by this Deed of Trust, with the excess, if any, paid
<br />to Harrower. If the Property is abandoned by Borrower. nr if Harrower fails to respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that [he insurance carrier oticrs to settle a claim for inslIrance benefits, Lender
<br />is authorized to collecl and apply the insurance proceeds at Lender's option either to restoration or repair of the Propel;Y
<br />or to the sums secured bv this Dt..--ed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal sh~\1I not extend
<br />or JXlstpone the due date of the monthly installments referred to in paragraphs 1 and :2 hereof or change the amount \11
<br />such installments. If under paragraph I ~ her~of the Property IS aCLjuired hy Lender, all right, title and interest at lJorrower
<br />in and to any insurance policies and in and to the prol.'ecds then..'of resulting from damage to the Property prior to the s.lie
<br />or acquisition shall pass to Lender to the extent l,r the sums secured by thiS Dc~J of Trust immediately prior h) such sale 01
<br />acquisition.
<br />- 6. Presenation sod Maintenance of Property; Leaseholds; Condominiums; I~ianned Vnil Developments. BOrll..l\\Cl
<br />..hall keep the Property In good repair <Iud shall lllJ[ Cl\llll11lt \\ aslt: ,'If p\."rmlt impalrml..'nt or d~tcritlri.Hilln t'lf the Property
<br />and shall comply with the provisions of any lease if this Deed (If Trust is 011 a leaseholJ. If this Deed of Trust is {ll1 a uni! in a
<br />condominium or a planned unit development. Borrower sh,llI petiorm ,Ill of Bormwer"s obligations under the declarall(l-Il
<br />or covenants creating or governing the i,'flfidominiun1 llf rbn!1~d unit de\'e1oplnent, the by.:::iwS ;iilJ rcgulaii-.:....ns ~-,i the
<br />condominium or planned unit development, and constituent documents. If.a condominium or planned unit devdl)plllClll
<br />rider is executed by Borrower and recorded Together with this DecJ of Trusl, the I.:O\'c:nanls and agreclllcnls (l-( slIch nuel
<br />shall be incorporated into and shall amend and supplement the cl..wenanh and agrccm..:nts 01 thiS Deed ,--'1 Trm_l a~ If lile ! idcr
<br />were a part hereof.
<br />7. Protection of Lender's S<<urity. If Born..)\~lcr falls It) rcdonn tht: 1.:0\ocn~-Ults and agrc-cOlCl1b i..:unt~lIn~J in Ihis
<br />Deed of Trost. or if any action or proceeding is ~ommcf1ccd ,-".hich ll1ateri..lily affects LenJer'~ interest in the Propcrt~'.
<br />induding. but not limited to, eminent domain, insolvency, ..;odc cnfor~ement. Of arraogemenb. or proct:t.:Jing~ Ji1\-ulvlIlg i.l
<br />bankrupt or decedent. then Lender at Lender's option, upon notice h) Borrower. may make slKh .Ippcaranccs. di-;bur"c ::'lh.:h
<br />sums and take such action as is necessary to protect Lender's. mterc~t, Including, hi! nOI limited h', \..hshur:.CIllt:lIl I.t
<br />reasonable attorney's fees and entry upon the Property to make repairs. If l.ender reyuircd flltlltgagc- inSUI,l.lh.:1' ;l~ ;t
<br />~ondition of making the loan secured by this Deed of Trus,l, Bor.r0\\CI ::.h:.\lI pa} the premiums re4uirc~ td Ill;UHliHll ~lfch
<br />Insurance in effect until such time as the requirement for such II\SllraIKt: termlll~tlcS 111 accorJalH:c wl!h Borrnwcr.;-. ,illl.i
<br />Lender's wri~ten agreement or applicable Jaw. Borrowt:r shall pa} ,he .lHlOlIrH \'1 ail Ilwngage Hls.ur;lnCl' premium::. In the
<br />manner prOVided under paragraph '2 hereof.
<br />Any amounts disbursed hy Lender pursuant to this paragl.lph -: '-\ nh Interest therC~lH, ~11<.l1l t~~dllnl..' ;lddlill\[l:li
<br />indebtedness of Borrower s.ecured hy this Deed of Trust. Ulllcs.~ Borrowcl .lnd 1 l'IlJer ,lgr~c hl l)thcr "--'fillS ..)1 paYJllcnl. ,"i.h:h
<br />amounts shaH be payable lIpon nolkc frorn Lender h) Burr()wcr requesting paynh.:m thereof. [\lld shall hC~1l Intel est frl.1rrl lhe
<br />date of disbursement at the rate payable from time to time llill\ut~taliJing prim,'ip.ti under the 0lllle unless !)ayrnl'nt pf in!Cll~::.1
<br />at such rate would be contrary t{) ap-pb;abtc la\.., in wrw,:h evelll '\lI,.h amtlunl~ ..hall he.\! illlC"rcst ,It lhe ht~he~t fall'
<br />permissible under applicable law, Nothing conlained ill thiS palagraph -:' ~ha!) IC4uin.: Lender hI illCIU ;IilY 1.'.\fX'IlS(' t'[ t;lh.t"
<br />any action hereunder.
<br />8. haspection. LClldcl may mail.c Ilr \..au~c lu he made rca...0uabk cntnc,> (IPI)!l ;llld lll'orH.'dll'lI\ 1'1 lh~ Pl~)pt:n" i<kd
<br />Ihat Lcn,der shall give Horrower notice prior to illl) :-'lll.::h inspt:l:lillll ~pc~ifymg ,cit~lfnal>ll. \..-;jl.l_"C lhcjd~l\ ll.'i:dcd I,' t'::dLf"
<br />allerest m the Propertv.
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