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<br />UxteoeritCoveaterz•[•s Borrower atidLendercovenantand:agreeas-foAows:
<br />1. P~Yinent of Principal and-Interest. Borrower shalt pmmpily pay when due the piincipat vf: and. interest orr the
<br />-. indebeedttess evidencedbytheNote;.prepaymentandlate chargesasprovided inthe Note, and the principal:oPandinterest'
<br />on anyy Future Advances securedby this.Ih:edofTnrst.
<br />2. Fnra[ls for Taos aadInsnrance. Subjectto applicableaaw or to a writtenwaiver by Lender, Borrowershall pay
<br />tp Lenderon the day monthly instaRmentsofpriocipal and interest ~re payableunder the Note, until theNoteispaid infull,
<br />a' sum (herein "Funds") equal Eo true-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Deed of Trust, and ground rents4n the Property, if any, plus one-tw@tfth'.vf yearly premium installments for hazard insurance,
<br />_ plus one-txyeltth of yearly premium .installments forlmor[gageinsurance, if any; a!1 as reasonablyesiimated initially,and`$om
<br />ume to ame by Lender on ttie basis"of assessments and bills and reasonable estimates thereo€
<br />The Funds shall"be heldinan institution Yhedeposi[s or accountsofwhich are insured ocguaranteed' by a Federalor'.
<br />:state agency(includingLender if Lender issucb an instihition)."Lendershall apply'ifieFundstopaysaidgaxes,'assessments;
<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.Borroa~er interest on the Funds and applicable law
<br />:permits Lender to make such a charge, Borrower and Lender may agree in w•ritirg at the time-of execution of this
<br />Deed of. Trust that interest on theFunds shall be paid to Borcower, and unless suchagreemen[. is madeor applicable law
<br />requires such interestzo be paid; Lendershal3 not he rtgvired to pay Borrower ;[ny interest or earnings on the Funds:.: Lender
<br />shall give fo Borrower; withouf cfiarge; an anmtal accounting of the Funds showing credits and debits to the Funds and the
<br />".purpose for which eachrdebitzo thaFunds 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 witn the funire monthly installments of Funds payable prior to
<br />the due datesbf taxes; assessments; insurance premiums and grouod YcMS, shall exceed the amouni7equiied tgpay said taxes,
<br />- assessments,.insurance.:premiums and ground rents as thzy tali due,such e~cesrshall be;. atBorrower's option, :either
<br />promptly repaid to Borrower or credited to Borrower vn manthly installments of Funds: IE the amount of ific Funds
<br />held by Leader shall not besufficientto.pay taxes. assessments: insurance. premiumsand ground rentsas tfieyfall due:
<br />Borrower shall pay to Lendepan}• ae+ounr necessary tq make up the deficiency within 30 davs from the date notice is mailed
<br />by Lender to Borrower requesring payment thereof:
<br />' Upogpaymenrinfull of a;isumssecured tiythisDeedof Trust. Lender shall promptly refund to Borrower anyF!rnds
<br />held by Lender. If under paragraph 18 hereof the Property is sold or [hc Property is otherwise: acquired by: Lender: Lender
<br />shelfapply, no laterthan. immeutately prior to Yfie sale'of the Pruperty orits-acquisition by`Lender,"any Funds held by
<br />Lender at[he Cme of application as a creditagainst the sums secured bythis Deed of Trust.
<br />1. AppBradoe of Payments. Unless' applicable taw provides otherwise, all paymentsreceived by !'ender under the
<br />Note and:paragraphs ITand2 Hereof shall. applied,by 1_ender first mpayment vfamountspayable to Lender by Borrower
<br />:underparagraph 2 hereof;then to interesf`payableon tfie.Note,:then to the principaloftheNote; andthe,~ ,.,..;.,...psi and
<br />princ[ppal on anyFuhire Advances.
<br />4.. Charxes; Lien. Borrower shalfpay alltaxes, assessments and-rnher charges:fines anct imposnions attributable to
<br />the Propercy which may attain a priority over this Deed of Trost, and leasehold payments or ground rents, if .any, in the
<br />.manner provided under pazagraph 2 hereof or, if notpaid in such manner, by.Borrowermaking payment,.when due: directly
<br />tothe payeeahereof. Borrower shallpromptty furnish.:io Lender all,iotices df amounts due under this ~aragrapti: andin the
<br />event Borrower shall:makepaymeni directly; Borrowershall:promptly furnish toLender receip[sevidencingsuchpayments.
<br />8orrowerahallpromptly discharge any lien which has priorit}• ovcrthis Deed ofTrustt provided,ihat.:Borrowershalinot 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 />suchlienin.amannecaccep[abletoLender,orshalLingoodfaithcomestsachlienby,ordefendenforcementofsuch'Benin:
<br />egal proc_ eedings which operate to prevent the enforcement of the lien or forfeiture b( the Property or any part whereof.
<br />S HaaaM It[s[irance. Borrower shallkeep the improvements now existing or hereafter erected on the!Property in_::red
<br />againstlossby tare; hazardsincludedwithinthe term"extended coverage'": and such otherhazards as lender mayrcquirc
<br />and in such amounts and for uch periods as Lendermay requr;provided: that Lender shall not require thatthe amountol'
<br />such coverage exceed-that amount of-coverage required to pay the sums secured by ihrs Deed of Trust:
<br />The insurance carrier providing the insurance shalt be chosen by Borrower object to approval by Ifendea: provided.
<br />hatauch approval shall oocbe unreasonably withheld Alf.;premiums on insurance policies'shall he paid m the manner
<br />providt:d under paragraph 2 hereof or, if not paid in such manner„by Borrower staking payment, when due, ijirectly to the
<br />imursnce carrier.
<br />All insurance policies and renewals thereol shall tn: inform a~..aptable ur Lender and shelf include a standard mortgage
<br />clausein favor of and in form acceptable to Lendnr...Lcnder. shall have: the. riphttohold thcpoficies and renewals thereof.
<br />and Horrowershall promptly furnish to LenderallSrenewal notices anti ail receipts of'patd premiums: In the eveni'of loss..
<br />Borrower shall givepromptnotice toche'csuranceearrier and Lender. Lender tea}• make proof of loss if riot made prompdy
<br />by Borcower.
<br />Unless Lender and Borrower otherwise agree in writ+ng, insuranceprrneeds +haii be applied to reuorauon nr repair of
<br />the Property: damaged, provided such restoration or repaFr rs economically feasible ;ind the see[irity of thr~ (Deed of Trust n
<br />not (hereby impaired: If sucF restoration orrepazr ispot economically feasible ur if the Securuyo( this Deed n( "trust wo[;id
<br />be impaired,the3nsurance proceeds shall be applied tohc sums secured by crisis llecd of "Trust,w;th the excess. ;t any: paid
<br />to Borcower: If the Property is abandoned by }Iorrowcr, or if Borrower fails to respond [u Lende; within 3Q days from the
<br />datenoticeismailedbyLenderloSorroaer[hatiheinsurancecars[eroBerstoscttleaclasmfar:.insurancebenefits.`Lender
<br />isauthorized to collect and apply the insinance proceeds st Lendei s option enher [o. resivration or repair of tfie Property
<br />or to the sums secured by this-Deed of Trim.
<br />UnlessLender_and Borrower o[herwiseagree mwriting, angsuch application ol: proceeds: to principal. shall notexte^d
<br />or postpone, the due date of the monthly installments referrtid to in paragraphs l :uid 2 hereof or change the amount e;
<br />-'such installinrnzs. If under paragraph I$ hereot the'Properiy isacquiredby. Lender;. all nght;ti¢le and interest oLBorrpwer
<br />in at[d to any insurance policies and in and to thrproceeds thereof resultingSrom damage io the Property': prior to the-sale
<br />or acquisition shall pass to Lender io Lhe extent of the runts secured by :his: Deed of Trust immediately prior iv such ale or
<br />'aCqutsi[ion:
<br />6. PreservalioaaadMafntenanceaf'Property;:'Leaseholds;Condominiums;Planned Unit"Developrnents..Borrower
<br />-.shall keep;the Property m good repair and shalE not commit W-rite or permit-impairment cis de[erioratigm of the. Property
<br />:and shall comply wi[tr the provisions of any leasef this, Deed:of "(rust iron a leasehold If this'Deed of Trust is nn a unit in a
<br />condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration
<br />or covenants creating or govctning the condominium or planned unit. development,'the by-taws and regulationscof the
<br />condominium or planacJ unit development,. and constituent dzxuments. I(a condominium orplanned unit development
<br />rider is executed by Borrower and recorded ogether wsth this Deed of Trust, the covenanzs and agreements of such'rider
<br />shall be incorporated into and shall amend and supplement the covenants and agreements of this Deed of Truu as ;f the rider
<br />were a part hereof.
<br />• T. PTOIeMionof:Lender's Security:.lf Borrower fails tvperfvrmthecvvenants andagreements containedin th[s
<br />Deed ofTrust, or ifapyacticn or proceeding is cammenced'w~hich:materially affects Lender's ...estin the Property,
<br />iiuluding, but not limited to, eminent domain, znsok•ency, codeenforcement, or arrangementsor proceedings involving a..
<br />bankrupt'oc decedent; ihen`Lender at Lender's option: upon' notice to Burrower, may metre such appearances, disti+trse such
<br />sums and-take suchaction as is necessary to protect Lender"s'interes[,.including, :butnot3imitedto, disbursement of
<br />reasooa6le attorney's fees and entry upon the Propert}• to nsake repairs: If Lender required mor!gagc insurance as a
<br />conditionnfmaking tteeloan ecured by.thts Deed, ofTrust; Borroter shall pay the premiums-eeyt;"~c~i ti> ntainlain such
<br />insurancein effect. until such ditite as the.:requirement for sucfi insurance. Germinates in accordancewfth Birrmwer'sa nd
<br />Lender's:written agrtemenror applicable law. Borrower shall pay the amount of allmortgage.:insurancepremiums in the.
<br />L mantter provided prder paragraph 2 hereof:
<br />Ao amounts discussed by Lender pursuant to this paragraph 7, with interest therein, shall tn:come addinvnai
<br />indebtedness of BOrrON'~r soured by thisl~ced of Trust. Unless Borrower and Lender agree to other terror of payment,. such
<br />antvunts sha'.1 be payable upon notice from Lender to Borrower requesting payment thereof. and shalptiaarinteres4 from the
<br />date of disbtirstment at zhA rate payable from time !c time on outstanding principTi under the Note unlesspaymentcf ir;terest
<br />at such rate would ire contrary to applicable law, i~ which event such amounts shall bear interest az the highest talc
<br />permissible underappticable law;,Nothrog contained in this paragraph 7<shall require Lender io incur any expense or take'
<br />any nciion hereunder;
<br />' fI. Ir;~peNMn.': Lender may make or cause tobemade reasonable Potties upon tmtf rntpcctions of the Ptopcrty,provided
<br />.that Lender shall gs`veBarrower notice priorty :+ny such mspeciivn specif~~ing reasoriihtccausc; thcreforrxlat~:l to t.ender'~
<br />interest in the Prarertv.
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