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<br />82-~ 002301
<br />Utstttnaxt Covexarrrs: Harrower andLendercoveaantandaeree as-follows:
<br />-1. Payment of Principal-and Interest. Borrower shall promptly pay'when due the.principal -of ands interest on the
<br />indebtedness evidenced bV the Note, prepaymentandlate charges ac provided in<the Note, and the principal ofand: interest
<br />nn an}~ Future Advanceti aewred by this Deed efTri.rt. :
<br />2. Fantle Eor Taus and7asmaoce. Subject to applicable-law or. toa wrilten waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly installments"of Principe! and interest are payable underthe Note, until the Note is paid in full;
<br />a sum (basalt. "Funds"i equal to one-.twelfth of the yearly'tazes and' assessments whtch" may attain priority over this
<br />Deed of Trust, andground rents on [he Property, if any, plus one-twelfth. of yearly premium installments for hazard insurance,
<br />`Pius one-twelfth of yearlypretnium installments for mortgage insurance; if any; all as reasonably estimated'initially and from
<br />htne to time by Lender on She basis of°assessmen¢srand bills and ~easanable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured ar guaranteed by a Federal or
<br />state agency (ncluding Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments;
<br />insurance premiums andground rents. Ixodermaynot charge for so holding and'applyingthe'Funds'ana3yzing said account
<br />or verifying and compiling saidassessments and bibs; unless Gender pays' Borrowerinteres[ gnthe'Fundc and applicable law
<br />permits .Lender to-make such a charge:' BarTOwer and Lender may agree in writing at. the time of cxecutiod of this
<br />Bead of.Trusrtha[ interest on the Funds shall Ue paid to Borrower, and unless such agreement 9s -made or applicable law
<br />requires,such intetestto be paid; Lender sha19 not be required to pay Borrower any interest orearnings an the"Funds. Lender
<br />shall giveao Borrower, without charge, an annual accounting of the,Funds showing credits and debits to the Funds and she
<br />..purpose forwhich each debittothe Funds was made: The Fundsarepledgedas additional security forthe sumssecured
<br />by this Deed of Trost
<br />If the amount of the Funds held by Lender,. togeffier with the future monthly installments of Funds payable Prot o
<br />the due°dates of taxes; acsessrttents, irtsurattce premiums and groundren[s, shall exceed theamountrequired topay said taxes,
<br />assessments; insurance premiums and ground rents as they fat! due, such excess shalt begat Borrower's option; either
<br />promptly ropaidta Bor:~~ r: or credited to Borrower on monthly. installments of Funds:" 'If the amount of the Funds
<br />held by Lender shall not besufficient-to- pay taxes, assessments. insurance ,premiums and ground rents as tfiey fall :due.:
<br />Borrower shall pay`to Lender any amount necessarytn make up the deficiency within 3o days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Uponpaymenrin 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 i8 hereof thePropem• issold or the Property is otherwise acquired by Lender, Lender
<br />shall apply. nolater than immtdrately prior to the sale of ihePmperty ania acquisitions fiy Lender any Fundsheldby
<br />Lender at the time of application as acredi[agains[ the sums secured by this Deed of Trust. -
<br />7. Application of raymutts. Unless applicable law provides otherwise, all payments received. by Lender under the
<br />Note and'paragraphs.7 and 2 hereof shallax applied by Lenderfirst in payment of .amounts, payable to GenderbyBorrower
<br />under paragraph 2 hereof; then to interest payable on the Note, then to he principal of the Note, and then to interest and
<br />prince al on any Future Advances.
<br />•. CYargesc.Lkrs. Borrower shall pay all taxes.'assessmems andother charges, fines and impositions attrifiutable to
<br />the. Property, which mag attain a priority over this Deed of Trust. and leasehold payments or ground rents, if any, in the
<br />manner provided undeFparagraph 2 hereof os, if not paid in such mantles, by Borrower making payment, when due; directly
<br />to the payee thereof Borrower shall promptly furnish to Lender al[ notices of amounts due underthis paragraph; and inahe
<br />event Borrower shall make payment directly, Borrower shall promptly fitrnish to Lender receipts evidencing such payments:
<br />Borcower shall promptly discharge anyJien which has priority overthis Deed of Trust; provided, that Borrower shall not' be
<br />requiredodischargeany suchlien so IongasBorrower shallagreein writing. to thepayment of the obligation secured by
<br />such lien in amanneracceptable to Lender, or shall ingood faith contest such lien by, ordefendcnforcement of such lien in:
<br />legal pproceedin which operate to prevent the enforcement of the Ilan ocforfeiture.of tltc Property or any part thereof.
<br />S.' Flfari Itw~f~te. Borrower shall ktep the improvements now existing or hereafter erected. on the Prvperty .insured
<br />against loss',by fire, 6azardx'induded within the ternt"extended coverage", and such otherhazards as Lender may require
<br />and in such atttounts and for such periods as Lender may require; provided,: that Lendershall not require that the amount of
<br />ouch coverage exceed that atnouot of coverage retauircd to pay the sums secured by tlfis Decd of Tntst:
<br />The insurattce'camec providing the insurance shall' be chosen by Borrower subject to .approval by Lenderi provided.
<br />that such approval shall riot be unreasonably withheld. All premiums on insurance policies shall he' paid in the manner
<br />provided.under paragrapb Z hereof err; if not paid in such manner, by Borcowee making payment,. when due, directly to the
<br />imttrancecarriier.
<br />AB' insurance policies and ttnewals ahcreof shad[ be in form acceptable to Lender and shall includq a standard mortgage
<br />elatne in Eayor of and in form actxptabk to L,endeC Lender shall havelhe right to hold the policies and'renewals'thereof.
<br />and. Borrower shall promptly furnish to Leader a19:renewal notices and all receipts of paid premiums. In ahe event of loss,
<br />Borrower shall give prompt notice to the insurance Barrier and lxnder."Lender may make proof of toss i f not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwiseagrec in wriung, insurance proceeds shall be applied to restoration or repair of
<br />the property damaged, provided such restoration or repatr is ecanomical(y feasible and the security of this Decd of Triter is
<br />not thereby impaired, If such restoration or repatr is nureconomically feasible or if [he security of this lked of "i"rust would
<br />be impaired, the insurance proceeds shall be applied o thesums secured try this Deed of Trust, with the excess, if any;. paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrowerfails to respond ao Lender within30 days from ahc
<br />date notice ds mailed by Lender to Borrower that the insurance carrierotlers to settle a claimfor insurance. benefits,. [:,ender
<br />es authorized to collect and apply the insurance proceeds at Lender's option eitherao restoration or repair of the Property
<br />or to the Gums secured by this Dad of Trust
<br />Unless Lettderand Borrower otherwise agree in writing, any such application of proceeds to principal shall notcxiend
<br />or postpottethe due date of"the monthly installments referred to in paragraphs f and 2 hereof or change the amount of
<br />such insWlt»ents. II under paragraph ig 6ereef tbe Property is acquired t>y Lender,all right; title and in[eresi of Borrower
<br />in and to any insurance paiicies and in and to the pracoeds [hereof resulting from damage to the Property prior to the sale
<br />or acquisition shalt pass to Lender to"the extentof the: sums. secured by this Dced of Trust immediately-prior to such sale cis
<br />acquisition:
<br />~ !'raervalior Gird )ld•lalenance ofPropetty;::Lease6olds; :,oodominiuws; :Planned Unit Developments. BOrrowxr
<br />shall keep..the Property in good repair and. shall not commit :waste nr permit impairment or deteriorarinn of the Propc.rt
<br />and shall comply with: the provisions of any lease if this Deed of Trust is on a Seasehold; if thfs Deed of"Trust is on a trait. in a
<br />-condominium or a planned unit devetopmeat, Borrower steal! perform ail of Borrower's obligations under the declaration
<br />or coveitanls creating or ggverning the condominium or planned unit development, the by-taws and Tcgulations of tfie
<br />condominium or planned unit deyeiopmen[, andconstituent documents. 1f a condominium or .planned .unit developmcm
<br />rideris executed by Sorrawtc and recordedtogetherwiththisDecdofTrust; the covenants and agrecments'of suchYider
<br />shall be incarporattd into andshallamend and supplement ffie covenants and. agreements of this Deedof Trust as if the rider.
<br />..:were a part hereof
<br />7, Ptmsecfioa of Leader"::Security. If Borrower fails o perforsn the covenants and agreements contained in; this
<br />Deed of Trust, or if any action or proceeding-is commetrced which materially affects Lender's interest in the Property,
<br />mctirding, but not limited to, eminent domain, insolvency, code enforcement, brarraueementsor .proceedings. involving a
<br />bankrupt or decedent then Lender at Lender s option, upon notice to Borrower; may make such appearances, disburse such
<br />srztns and take such action az is necessary. to protect Lenders interest; including, but not limned to, dssburscmcnt of
<br />reasonable attorney's tea and entry :upon the Property to make repairs, if Lender rcyuired rnortgagc insurance as a
<br />eonditian af'makirtg tbe loan secuzed by :his Deed of Trust; Borrower shalE pay the prcmiams reGused to rnairaain such
<br />insuratux-in effect until such time az the;requitemeni Eor su:h insurance tesrninates in accordance with Borrowc~s and
<br />Leuder'swritten agreement orapplieable law. $orcower shall:.pay the amount of all mortgage insurance: premiumsin the
<br />manner provided under par~gr ph Z hereof
<br />L .any amounts disbursed by Lender punuan4 to this paragraph 7, with interest thetco.~, shall became additic±naP
<br />indchted:tess of Borrovrcr secetrtxiby this Decd of Trust. Unless Harrower and bender agree to other termsof payment, such
<br />amounts shalE t>< payable upon notice tram Lender to Borrower requesting payment thereof, and shall ts=ar it}Cerest from the
<br />date of disbursement at the rate payable from time to i~me on outstanding princtpat under the Note unless payment of interest
<br />at such rate wotdd be:contraryto applicable law, is which. event sueh..amoun[s shall hearinierest: at the ltighastraic
<br />ptrmissibk under appiicablelaw. Noihingcontained in ahisparagraph.7 shall require Lender to incur any. expensaor take
<br />..any action hsrcunder,
<br />& ltrapeefkm. Lender may makeor cause to 4te. madereascsnable entries upon anu' inspections of the Property, provided
<br />tisat Lcndrr shaft grvc$orrower natkc pricer to any such inxpectien specifying, reasonable cause thctefor related to l.etadtC s
<br />interest in the Prnpcrty.
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