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<br />82 -~~ !~ 4.1 X3'7
<br />Uxteoant CoveNnrtrs. Borrower and fender covenant and agree as follows:
<br />.1. Payment of Principal and Interest. Borrower shalt promptly pay when due the principal of and. interest an the
<br />indetrtednessevidencedbythe Note, prepaymene andlatc charges as provided in the Note, and the principal of and. interest
<br />' ~ on any Future Advances securedby this Deed of Trust.
<br />2. Fonds for. Taxes and Insurance. Subject to applicable law or to a written waiver Gy Lender,. Borrower shall pay-
<br />to Lender on the day-monthly installments of principaland. interest are payable under the Note.vntil the Nate is paidin. full,
<br />a sum (herein. "Funds") equal to one-twelfth of theyearly rases and assessments which may attain-priarityover this'.
<br />Deed of Trust; and ground rents on the Property, if any, phis one-twelfth of yearly premium installments for hazard insurance;
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, ail as reasonably estimated initially and from
<br />time to timebyLenderon the basis of assessments and bills and reasonable cstimatesthereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed ny aFederai or
<br />stale agency (including Lender if Lender is such an institution). Lendershall apply the Fundrto paysaid taxes, assessments;
<br />insurance premiums and ground rents. Ia:nder may not charge for so holding and applying the Funds,analyzing said account
<br />or. verifyingandcompiling said assessments and bills, unless Lender paysBorrow•er interest on the Funds and applicabledaw
<br />permits Lender to make such a charge. Borrower and Leader .may agree is writing at. the time.. of exe~utian.. of -this.
<br />Decd of Trust that interest on the Funds shall tre paid to Borrower, and unless such agreement is made or applicable law.
<br />requires such interest to bepaid, Lender shall not be required topay Harrower any interest or earnings on. the Funds. Lcridcr.
<br />shallgive to Borrower, without charge, an annual accountine of the Funds showing credits and debits to the Fundsandthe
<br />purpose for which each debit to the Funds was madco The-Funds are pledged as additional security for the sums' secured
<br />by this Deed of Trust.
<br />7fthe: amount. of the Fonds held by Lender, together with the future monthly installments of Ftinds payable prior to
<br />the due dales of taxes, assessments, ~°~urance premiums and groundrents.shall. exceed the amount required topay saidtazes;
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall he; ai Borrower's. option; either
<br />promptly repaid to Borrower or credited to Borrower an monthy installments of Funds: If the amopnr of the Funds
<br />held by Lender shall not ?x sufficient to pay taxes, assessments. insurance premiums and ground rents as they fail due;
<br />Borrower shall pay toLender any amount necessary to makeup the deficiency within 30 days from the date noticeis mailed
<br />by ].ender to Borrower requesting payment thereof.
<br />.Upon paymenLin full of all sums secured by this Deed of Trust, Lender shall promptly refund toBorrowerany Funds
<br />held by Lender. It under paragraph 'g hereof the Property is sold or the Property rs otherwise acquired by: Lender,.i_ender
<br />shall apply, no laterthan ammedia[ely prior to [hesale of theProperty orits acquisition by Lender any Funds held by
<br />Lender at thetiine of application as a credo againsttfic sums secured by this Deed of Trust.
<br />3. Application of Payments. Unless applicable law providesotherwise, all payments received by I_endcr under the
<br />Note and paragraphs l and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph2 hereof; then tointcrest payable on the Note, then *,athe principal of the Note, andthen to interestand
<br />principal on any Future Advances.
<br />4. Charges; Liens. Borrower shall pay all taxes. assessments and other charges. fines and impositions attributableto
<br />the Property which mac attain a. priority over this Deedaf Trust. .and .leasehold payments or .ground rents, if any; in the
<br />manner provided under paragraph 2 hereof nc if not paid in Bach manner, by Horrow•ermaking payment,whendue;direct]}'
<br />[o.thepayee thereof. Borrower shall promptly furnish to l-ender all notices of amounts daeunder this paragraph: and in the
<br />event Borrower shall.make payment directly, Borrower shall promptly f;irnish to .Lender receipts evidencing such payments.
<br />Borrower stsall promptly discharge anyJien which has priority over this Deed of Trusr provided, (fiat Borrower sha1L not be
<br />required to discharge, any such lien so long as Borrowershall. agree im writing: to the :payment of ahe ~btigation. secured by
<br />such lien ina manner acceptable to Lender; or shall in good faith nontesi sack lien by, or defendenforccment~f such Benin,
<br />legal proceedings which operate to prevent the enforcement of the lien offorfeiwre of the Property or any part [hereof: l
<br />5. Ha:ard Insurance. Borrower shalt keep the improvements now existing orhercaftei crested odthePropert}' insured
<br />against loss by fire.: hazards included within the term "extended coverage's .and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may rcyuire. provided. that Lender shalt not require-that. tlic amotmt of
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Deed of. Trust.
<br />The-insutancccarrier providing the insurance shall be chosen by Borrower subject. to_approvai by Lender; provided:
<br />that such approval shall not be unreasonably withheld. All premiums on msurance policies shall'be paid in the manner
<br />provided under paragraph 2 hereof or, if nnf paid in such manner, by Borrower making payment, when due, directly to the
<br />instrance carrier.
<br />All :insurance policies and renewals thereof shall be in torrn a._ .ptable to lender and shallSinclude a standard mongagc
<br />clause ihfavorofandin form acceptable to I-ender. Lender shall Stave the right to holdthepolicies andrenewals thereof:
<br />and'Borrower shall promptly furnish to Lender aII renewal notices and'all receipts bf paid premiums. In the evenrof loss,
<br />Borrowershail give prompt notice to the insurancecarrier and. Lender. Isnder may make proof of loss ifnat madepromp[ly'
<br />by $orrower,
<br />Unless Lender and Borrower otherwise. agree in writing, insurance proceeds shall6e applied to restorationor repair of
<br />thePropertydamaged, provided suchrestoration or repair is cconomicaily feasible and the security of this-Deedof Trustis
<br />notthereby impaired. if such rcstorationor repair is noFCCOnomicaliyYeasiblear. iCthe security of this Ueed of'.T'rust would°
<br />beimpaired, the insuranceproceeds sha]i beapplied to the sums secured by thisDeed ofTrust,with ¢he. excess, if any. pard '
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower fails o respond tq Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the insurance cariieroffers to seede a claim-for insurance benefits, lender.
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of jhe Property
<br />or to the sums secured by this Decd of Trust.
<br />Unless' Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall nor: extend
<br />orpostpone the due date of the monthly installments referred to in paragraphs' I and ? Hereof or change the amount of
<br />such instaIIments. if under paragraph IRhereof the Property is acquired by Lender; allrighi, title and intcrestof Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resulting trorn damage to trio Property prior to 4he sale
<br />or acquisitionshailpassio Lender iothe extent of the sumssecured by this Deed of Trustimrnediately prior. touch saleor
<br />acquisition.
<br />6...Preservation and M~iatenanc6oEProperty;Leaseholds;Condominiumsq.Planned:UnNDevelopments. Borrower
<br />shall keepthePropeny in goodrepair andshalf-not commitwasteorpermt impairment or detcriaratiaiiaf the Property
<br />and shall comply with the provisions of any lease if this i7eed of Trust is on a leasehold: [f this. Deed of'I'rus[ is on a union a
<br />condominiumdra:planneduoit-development, Borrower shatlpetforma(lof Borrower's otrligations under .the declaration
<br />or covenants creating ocgoverning the condominium or planned uniC development, the by-laws and regulations of the
<br />condotninium or planned .unit development, and constituem documents. if a condominium. or planned unit development
<br />rider is. executed byBorrower and recorded together with this Deed of Trust, the covenantsand agreements of such rider
<br />shall beincorporated into and shall. amend and supplementthe covenants and agreements of this Deedaf Trust as if the rider
<br />were a part hereof.
<br />7. Protection of Lender's Security. [f:Borrower faits to perform the covenants and agreemen4s contained in this
<br />Deed oP Tntst; or if any action or proceeding. is commenced which materially affects Lender's interest in the Property.
<br />including, but not limited. io, eminent domain, insolvency, code enforcement, or arrangements er proceedings .involving a
<br />bankntpt or decedent, then Lender at Lender's option, upon notice to Borrower; may make such appearances, disburse such
<br />_sums and[akesuchactionas is necessary toprotecrLender's interest, including,but not limited. to, disbiusernent of
<br />reasonableatiorney'sfeesanden[ryuponthe Property to make repairs.lf Lender requiredmortgageinsurance asa
<br />condetion of making the loan secured. by this Deed of Trust, Borrower shall pay the premiums required to maintain such
<br />: insorancein'effect until such:-timeas the requirement for such' insurance terminates in accordance wish Borrower's. and
<br />fender's .written agreementpr applicable law.. Borrower shelf pay the amomH of aftmortgage insurance premiums in the
<br />manner provided under paragraph thereof.
<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 ternis of payment, such
<br />amounts shall bepayableuponnoficefrom:l-endertoBorrowerreyuesting.payment thereof, and shall bear interest from the
<br />' date of disbutsementartherate payable from. time to. Yime on outstanding principafunder the Noteuniess payment of interest
<br />at such rate would be contrary to applicable law, in which event. such amounts shah bear :nteresY at the highest rate
<br />permissible uaderapplicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expenseortakc
<br />any action .hereunder:
<br />8. .inspection. Lender may make or cause to tre made reasonable entries upon anti inspections of the Property, provided
<br />that bender shall give Borrower-.notice prior to any such inspection specifying. reasonable cause therefor related to ]:ender s
<br />interest in the Procertv.
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