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<br />84 - 005629
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />,1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of a"d 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, Fonds for Tax... and Insnrance. Subject to applicahle 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, pius one-tweifth or yearly premium instaihnents 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 bills 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 shall apply the Funds to pay said taxes, assessmenls,
<br />insurance premiums and ground rents, Lender may not charge for so holding and applying the Funds, analyzing said account
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable Jaw
<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 applicablelaw
<br />requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Fund.. Lender.
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds andtbe
<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 wilh Ihe future monthly inslallmenls 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 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 fall due;
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from tbedate notice;s 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 is otherwise acquired by Lender,Lender
<br />shall apply, no later than immedIately prior to the sale of the Property or ils acquisition by Lender, any Funds held by
<br />Lender at the time of application as a credit against the sums secured by Ihis Deed of Trust, ,
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under Ihe
<br />Note and paragraphs I and 2 hereof shall be applied by Lender fir" payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, ihen to interest payable Gn llll'; N~}',; I., lJ the princip@: .:;f the Not.e~ ana th~n to interest and
<br />principal on any Future Advances,
<br />4. Charges; Liens. Borrower shall pay ail taxes, asse5Sm~llts and other charges, fines, and impositions attributable to
<br />the Property which may attain a priority over this Deed of Trust, 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 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 to Lender, or shall in good faith conlest such lien hy, or defend enforcement of such hen 10.
<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 included within the term "extended 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 thai the amount of
<br />such coverage exceed that amount of coverage required to p"y 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 acceptable to Lender and shall include a slandard mortgage
<br />clause in favor of and in form acceplable to Lender. Lender shall have the right to hold the policies and renewals thereof,
<br />and Borrower shall promptly furnish 10 Lender all renewal notices and all receipts of paid premiums, In the event of loss.
<br />Borrower shall give prompt notice 10 the insurance carrier and Lender, Lender may make proof of loss if not made promptly
<br />by Borrower,
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoralion or repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the security of this Deed of Trust is
<br />not thereby impaired, If such restoralion or repair is not economically feasible or if the security of this Deed of Trust would
<br />be impaired, the insurance proceeds shall be applied (Q Ihe sums secured by this Deed of Trust. with the excess, if any. paid
<br />10 Borrower, If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender wilhin 30 days from the
<br />date 'lotice is mailed by Lender to Borrower that the insurance carrier offers 10 settle a claim for insurance benefits. Lender
<br />is authorized to collecl and apply the insurance proceeds at Lender's option either to resloration 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 I and 2 hereof or change the amount 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 to any insurance policies and in and to the proceeds thercof resulting from damage to the Property prior 10 the sale
<br />or acquisition shall pass to Lender to the extent of the sums secured by this Deed of Trust immediately prior to such sale or
<br />acquisition.
<br />6. Preservalion and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />"hall keep the Property in good repair and shall not commit waste or permit impairment or lIeterioration of the Property
<br />and shall comply with the provisions of any lease if this Deed of TrUSI 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 Borrower's obligations under the declaration
<br />or covenants creating or governing the condominium or planned unit development. the by-laws and regulations of the
<br />condominium or planned unit development. and constituent documents. If a condominium or planned unit development
<br />rider is executed by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such rider
<br />shall be incorporated into and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider
<br />were a part hereof.
<br />7, Protedion of Lender's Secnrity, If Borrower fails to perform the covenants and agrcemenls contained in this
<br />Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Property,
<br />including, but not limited to, eminent domain. insolvency, code enforcement, or arrangements or proceedings involving a
<br />bankrupt or decedent. then Lender at Lender's option. upon notice to Borrower. may make such appearances. dishurse such
<br />sums and take such action as is necessary to protect Lender's interest. including, but not limited to, dishursement of
<br />reasonable attorney's fees and entry upon the Property to make repairs. If Lender required mortgage insurance as a
<br />condition of making the loan set:ured by this Deed of Trust. Borrower shall pay the premiums required to maintain such
<br />insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and
<br />Lender's written agreement or applicable law. Borrower shaH pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereoL
<br />Any amounts disbursed by lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment, ~uch
<br />amounts shaH be payable upon notice from Lender to Borrower requesting payment thereof. and shall hear interest from the
<br />date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of interest
<br />at such rate would be contrary to applicable lay\-'. in which event sm:h amounts s.hall bear lOterc.st :1t the highest rate
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall rcquirl~ Lt.~nder to incur any expense or take
<br />any action hereunder.
<br />8. Inspedion. Lender may make or cause to be made rcasOllablc l.:!ltrics up(.:m and In\pect!ons ni th~ Property, pro\,jd~J
<br />that Le~der shall give Borrower notice prior to any s.uch inspection specifying rea~t)nahlt' cause then:~for related to 1.t'nd(.~r"'"
<br />lnlerest to the Pronertv.
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