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<br />- LtVIFORT.t Cavnxnt.rrs, Borrawer and Lender covenant and agree a.+ follows: OG ""' t) Gl t~ ~ ~~ ,~,
<br />.t. Bayment af'Prineipaland: Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />mdel+[edness evidenced by thcNote; prepayment and late charges as provided in the Note, and the principal of and interest-
<br />on any Future Advances secured by this 17eed of Trust.
<br />~. I~[[ds for Ta:es and nsuronce. Subyect to applicable law or to a written waiver 6y :Lender; Borrower shat! pay
<br />to Lenderon ehe day monthl}~ installments of principal andinterest arc payable tinder the Nott, until the Note is paid in full,...
<br />a sum (herein "Funds") equalta one-twelfeh of the yearly taxes anti assess?vents which may attain priority' over thrs
<br />Dttd of"Trust, andground tentson the Property, if any; plus aneawciRh of }early premium-installments forhazard insurance,
<br />plus one-twelfth oEyeariy premium installments formortgxge insurance, if any, al[vsreasonably estimated initially and from
<br />ume to timeby Lender on-the basis of assessments and bills and reasonable eseimates thereof!
<br />The Funds shallbe held in aninsti[ution thedeposits or accounts bfwhich arc insured or guaranteed by a Federal or
<br />state agency (including Lender: if Lender ircuch an instihrtion)~ i.ender-shall apply .the Funds to pay said taxes: assessments,
<br />insurancepremiums and ground rents. Lcnde•r maynot charge forso holding and applying the Funds; analyzing saidaccount
<br />or:rerifying and compiling said assessments and hitls,uniessLender pays Borrower interest on theFunttsand-applicab(eiaw
<br />perritits [.ender tomake such'-a charge. iorrower';;nd:[.cndermay agrecin wrilingatthe iime'of execationnfxhis
<br />DtedofTrust thatinterev on the Funds sliallbe paidto Borrower and unless>suchagreement is madeorapplicable law- :
<br />requires such inicrest N fie paid:'Lendershaltnot berequired to pay Barrnwerany interesinrcarningsontheFunds.-Lender
<br />-shallgivetn Borrower, without-charge,-an annual accaimting of the Fitndsshowing credits and dehits tdthe Funds andalie-
<br />purpose #or which each. debit#o the Ftrnds was made. The Funds are pledgeri as additional security forfhe sums secured
<br />by this-Deed of Trust:
<br />ift}ieamountofthe-FundsheldhyLender;togetherwiththefututtimonthlyinstallmentsofFundspavahtepriorro
<br />-the clue, dates of fazes; assessments, iasurancepremiums and ground rents, shall exceed the amount required'to pay said tales,
<br />assessments, insurance premiums and ground rents as they fail due, such excess shall he:. at Borrower's option; either:
<br />promptly repaid to Borrower ar credited. to Borrowtr on monthlyinstal(ments qP Funds: If .the. amount of the Funds
<br />held by [xnder shallmot be,suflicient tapay taxes; assessmems; insurance premiums andgrtiundrents as they fall duce
<br />Borrower shall pay to Lenderany amount necessaryto make up the deficiencywithin30 days from theda[e notice tsmailed
<br />6v Leaderto Borrower requesting payment thereof.
<br />Upon.:paymentin ~ullofali-snmsaecuredhythirIked ot'Trust; Lender shall promptlyrefund..to Borrower any Funds
<br />held by Lender. If under paragraph Igbcreof thePmperty i5 sold or the Property is otherwise acquired tip i:ender Ltnder
<br />shalt apply, no later than immedrately prior to. the. salt of the .Property or its acquisition by [.ender, any Fiords. held by
<br />'" Leoderat the time ofappiication as a cred.[tagainstahesums secur+ed.. by this Deed of Trust.
<br />3.: Application.:of Payments. Unless.:apphca6le..law provides otherwise, all payments reserved: by Lender under the
<br />Noteandparagraphs1 and2 hereof shal[be appliedtiy Lenderfirstinnaymene ofantounts payable to Ltnder t,y Borrower
<br />.under paragraphZhereaf; thereto intertstpayable enthe:Note:.then to iheprincipal ofthc:Notes and Yhenta interest and
<br />principal on any Future Advances:
<br />4. Charges: Lieffi. Borrower shalt pay alt taxes: assessments grad other charges. fines and impositians attributable to
<br />the Property which may attain u priority:over this Deed of Trust, and leasehold payments or ground rents, if any;: in the
<br />manner provided underparagrap6 2 hereof or,. if: not paid tit sucfi manner, by Borrower making payment. when due: directly
<br />ao :he payee thestof..Horrower shall pmmpdy furnish to Lender all notices of amounts due:under this paragraph, and in the
<br />'`.event Borrowtr shall make payment direct#y, Borrower shall promptly furnish to Lender receipts evidencing such payments
<br />Borrowershal[promptigdischarge anytitnwbich: has-priority overihisDeed-gf.Tnrst:provided, that Borrower shall not be
<br />required to.:dischargeany such lien solongas Borrower shaltagrec in writing teiehe payment of theoblgaiibn secured b}•
<br />-sttch lien is a manneraeceptable to Lcnder,or shall ingnod faithconrest such heaby,or defend enforcement of such lien in.
<br />legs[ pprottedings which operate to prevenrthe enforcement of the ten or forfeiture of the Property or any part<thercof.
<br />S. Hasard latwraece. Borrower hall keep the improvements now e!cisting or hereafter erected on the Property. insured
<br />againsrfoss by Ere„hazards included within the teem "extended:coverage", anti such ether hazards as Lender may. require
<br />sand in such amounts-and for such ptriods as i.endermayrequire:provided, that Lender shall no[req uire.[hat the .amount of
<br />such coverage exceed that amount of coverage regtured m pay xhe sums secured ti}• this Deed of Trust.::
<br />Theinsurance'carrier providingtheinsurancc'shallbe :hoses. hy: Borrower stabjecttaapprwal` fiy:Lender; provided.
<br />that such,approvalshall nor be unreasonablywithheld. Ali. premiums oa insurance policies shall be. paid in the manner
<br />provided tinder para~rap6 2 htreaf or, if not paid in such manner, by Bonowermakipg payment, when-due, directly to the
<br />imt[rance'carritr.
<br />AI[ insurance policies and rertewats thereof shall. be in Inrrn acceptaole 4o Lender and shall include a standard mortgage
<br />clause iu favor of and in farm acceptable to Lcnder...Lender shall have the nigh[ to hold thepolicits and. renewals thereof,
<br />. .and Harrower shag promptlyfurnish to .Lender ail rettewal-notices and all ru;eiptsof. paid premiums Io the event-cif loss,
<br />Borrowtr Ball give prompt notice to the insurance carrier and.. Lender. Lender may make p;oof of loss if not made. promptly
<br />by Borrowtr.
<br />Unless Lender .and Borrower otherwise agree inurittng. insuranceproceeds shallbe applied to restoratiou ar repair aC
<br />the Property damaged, provide3such restcratien or repair as u:nnomtcalty. ft..rsibleand the security of thiS:Detd of.Trust is
<br />not thereby impaired:lf sad[ restorationor repairisnnrecononticaliyfeasi6le or-if the security of this Deed of Tnist would
<br />be impaired, the insurance proceeds shall. be applied to the sumssecurtd by {his reed. of "Trust,: with the excess, if. any, paid
<br />to Borrower. If the Property is abandoned by Borrower; ar if Borrowtr tads to respond to Lender within. 30 days .from the
<br />:date noticeis mailedby Lendarao Borrov.~er that the insurance carrier, offers to settlers claim :for insurancebeneft[s.,Lender
<br />~. is authorized to collect andapply the nsuraxeproecedsat.Lender'soptian ertherto'7tstorafion or repairof the-Property
<br />or to the ums secured by this Dced of Trust
<br />UnlessLenderand Borrower ptherwise agrttin writing, any such application of proseedsto principal shall norexeend
<br />or postpone the dtre date of the monthly; installments_refereed to in .paragraphs t need 2 hereof orchange the amount of
<br />suchins[aBments. if-under paragraphf$hereofthePropBrtyisacquired. byLender;.aiinght,4deand:nterestofBorrower
<br />'m and io anytnsurance policies and in and rn the. proceeds thereof resulting from iianrage to the. Properly' prior io the sale
<br />"or ace~uisiton shall pass to Lender to thrextem of the sums secured by. thfsDeed of Trust immediately .prior to suchsale or
<br />acgtustttar>_
<br />6. Preservationaad Mriateoaoce ofProperty;,L•easehoids Condaptiniums; Planned Unit Develapmenls. Borrower
<br />shall keep the Propeny in goodrepatr and shall nor comma waste or ptrmn impala°meat er detenoration. of ehe Property
<br />and shallcamply wittithe provisions of any least if this Deedof Trust is on a leasehold, if this Deed of Trust is qn uimit in a
<br />condominium or aplanned unit development, Bonou•er shall: perform all: of Borrower's obligations under the declaration
<br />or covenants creating: ar governing the enndominium or planned nmt development, the by-taws and regulations. of the
<br />condominium x planned unit development, sad eonsti[ucncdocuments. If a condominium or planned. urzit develupoterii
<br />rider is esecmed by $orrower and recorded together with this Deed of Trust, the, covenants and agreements of such rider
<br />shall be incorporated. into andsha![ amendand supplement the spvenants and agreements of this Dead of °l'rust as if the rider.
<br />were a cart het~f.
<br />7. Protection of. Lendetr Security.. if Borrower fails to-, perform the covenants and agreements contamcd in. this
<br />Deed of Trust ,~r ifaay a~tiou or proceeding is commenced whish rnaterialfy affects Lender's inieresi"in [hePxoperiy,
<br />incktdiag, but not iiniited to. eminent domain, insolvene}~, etideanloacement, ararrangemenzsor proctedingsinvciivinga
<br />bankrupt ar decedent, then Lender at Lender's option„upon riotiee to Borrower, may make such appcarsncts, dishucs-e_such
<br />sums and take such aai~n as is necessan° to protect Lender'sintsres[;induding,'trui not7zmrted to, disbunernant of
<br />rcz.anahie attoraep's fees and entTt upu+ ;he Property to.mak~ -rpairti; If Lender required ;nortgaRc msurar:c-e as n
<br />::ondirion of mom.:tg the loan soured os tuts Deed oI Trust,Borr-„wershall,pay.the'premiumsrtquiradtonmintainsueh
<br />- irsorance in effect entil lost; time as the regwrerrsent fvr such:insurance tettninaies in-actnidanee with Rnrrowtr`s and
<br />_ LeudeYs wnttc, agr~emcat or applicable Iau Florrawer shalt .pay the amount al'. all mortgage imursnccpremiumsin the
<br />n: user pros ded under paragraph Z hereof.
<br />,Roy atnounu disbursed by Lender pursuantto this paragraph: 7: with. interest thereor„ shall become nddiK.n::?
<br />- ~ ir.rebtsdness of Borra~er s surd by 1Sisa>eezl pf Tryst. EJnIt55 $ortowcrand Ltt)dcr pigrec tabthar irrnts of payment, .:ct;
<br />~~ am >un'c shad ?x papabh ,_t,,n relics from L.cndtr,[aHcurnwec requcwting payme;d Bsc .of. sod shah bear interest fr,,,n , Fr
<br />~ s f dishursentcnt at the race pa ahi Rom time to time nn outstanding prrnE~pai uncle to ~ Note nnl~s paytnen i f i~~~~ r ~•
<br />ai srh rate u•au!d ho cntr;rn t spp;::ablt law,"in which ei ens such amntens ,te. ben,- inicrest at the higlmst ..t;c
<br />pe n ~astble under npp` +bi~ la+r. tiathrng contained ih :his paragraph? shaiirtgwre ._e~ <lea` to .ncut~ tie}' eapenst ur take
<br />: ar,~ aCtian hcrM.ndtr.
<br />~ losper+tk+r- I-ender rrtap• fttakc or cause tc be mach reasml6te eattrics t a t n and sn pee :ox~s t the Pr.+garrty t •ot i
<br />tha7 Lender shall gir`e Borrower notice prix: to any SaCh ;nspeciion specifying rtsoxxibic .,,ausa° ihkrct.>i rclatn[ i 1.4+.+ ter c
<br />in?arcs: iO ti'7< Pttlperty.
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