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$2- t~t~473i~
<br />Utstr'ottnt Covert~ivTS. Borrower and Lender sovenont and agree as (allows:
<br />i. Payment of Principal and Interest. Borrower sh:dl promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provrded in the Note, :rod the principal of and interest
<br />on anyy Future Advances secured by [his I~eJ of 'i nest.
<br />Z. Foods for Taxta and htwtnnce. Subject to applicable law or [n :+ written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly installments of principal and interest an: payable under the Note, until the ;Vote is paid in full,
<br />a sum therein "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, plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium installments far 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 guarantced by a Federal or
<br />state agency (including Lender if Lender is such an institution}. Lender shall apply the Funds to pay said taxes, 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 satd assessmems and bills, unless Lcndcr pays Borrower interest un the Funds and applicable law
<br />permits Lender to make such a charge. Borrower :rod Lender may "+gree in writing at the time of execution of this
<br />Deed of Trust that interest on the Funds shall tie paid to Borrower, add unless such ,agreement is made ur applicable law
<br />requires such interest to be paid, Lender shall our he required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose-for which each debit [o the Funds was made. The Funds are pledged as additional security for the sums secured
<br />by this Deed of Trust.
<br />If [he amount of the Funds held by Lender, together with the Future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, ,hall exceed the amount required to pay Bard taxes,
<br />assessments, insurance premiums and ground rents as they tell Jue, such excess shall he, '+t Aorrower's upuon, either
<br />promptly repaid to Borrower or credited to Aorrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall not he 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 the date notice rs mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of ail sums secured 6y this Deed of Trust. !.ender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 boreal the Property is sold or the Property is otherwise acquired-by Lender. Lender
<br />shall apply, no later than immediately pour to the side of the Property or its acquisition by Lender, any Funels held by
<br />Linder at the time of application as a credit against the soots secured_by this Decd of Trust.
<br />3. Application of Pavmeuts. Unless applicable i.r..- provides otherwise. all payments received by Lender under the
<br />Note and paragraphs ?and 2 boreal shall t>c applied h} i <nder first in payment of amounts payable to tender by Borrower
<br />-under paragraph 2 hereof, then to interest payable on the Vote, then to the principal of the Note. and then to interest and
<br />prinnPal on any Future Advances.
<br />4. CharlSes; Liens. Borrower shat! peg ai rases, asszssments :mJ other charges, finer :rod rmposidons auributa6le 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. it not paid in such manner, by Borrower making payment, when due, directt}•
<br />to the payee thereof. Borrower shall promptly furnish ro 1 ender all notices of amounts due under this paragraph, and in the
<br />event $orrower shalt make payment directly, Aorrower shalt promptly Furnish to Lender receipts evidencing such payments.
<br />Aorrower shall promptly discharge any lien which has priority aver this Deed of "T7ust: provrded. that 1orrower shall not he
<br />required in discharge any such lien sn long as Aorrower shall agree in w ritine to the payment of the obhgauon secured by
<br />such lien in a manner acceptable u: Lender, or shall .n good forth contest larch hen hy, or defend enforcement of such lien in,
<br />legal pproceedings which operate «i prevent the enforcement of [hc lien ar forfeiture of the Property or one' pan thereof.
<br />5. Hattard insurance. Borrower shat[ keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended euvrraee", and such utiter hazards as Lender may reyuire
<br />and in such amounts and for such periods as Lender may reyuire: provided. that Lender shall not reyuire chat the amount of
<br />such coverage exceed that amount of coverage reyuired to pay the sums secured by this Decd ut Trust. -
<br />The insurance carrier providing the insurance shall be chosen by Aorrower subiect to approval he Lender, provided.
<br />that such approval shall not 6e.uneeasonahly withheld. Ali premiums nn insurance policies shall he paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, b} Borrower making payment, when due, directly to the
<br />itsurance carrier.
<br />Al! insurance policies and renewals thereat shall he in form acceptable u, I ender and .boil include a standard mongagc
<br />clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof.
<br />and Borrower shalt promptly furnish to Lcndcr all renewal notices and .dl receipts of pail premiums'. In the event of lass.
<br />Borrower shall give prompt notice m the insurance carrier :rod Lcndcr. Lender may make proof of loss rr no: made prompt)}~
<br />by Borrower _
<br />Unless Lender and Borrower otherwtse agree in wrung, :na+rancc }+roceeds ,hall be applied to resrorat ion or repa+r of
<br />the Property damaged, provided such restoratiim or repair is economicatl} feasible and the securn}• of this Decd of Trust rs
<br />not thereby impaired. if such restoration ar repa+r is nut ecunomicap}° Feasrblr ur :1 the sce_unty of this Deed of Trust would
<br />be impaired, the insurance proceeds shall be applied to the sums secured by this Decd of l nest. +cnh the excess, if any. paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Aorrower fans to respond «, Lcndcr within 3(3 days from the
<br />date notice is mailed by Lender to Borrower that the +nsunnce-carrier olTets to settle a claim for msuranrr benefits. Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Properly
<br />or to the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such appheauuu ul proceeds to principal shall not extend
<br />or pc~[pone-the due date of the monthly installments referred to in paragraphs 1 and_ hereul nr change the amount of
<br />such installments. If under paragraph 18 hereof the Property rs a~quircd by Lender, all right, title and interest of Aorrower
<br />in and io any insurance potines and in and to the proceeds thereof resulting from Damage to the Property prior to the sale
<br />ur acquisition shall pass to Lender to the extent of the sums secured by this DeeJ of 'Trust immediately prior to such sale or
<br />acquisition. - -
<br />b. Pteservatiotr and Mainterwnce of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />shall keep the Property in goof reparr :rod shall nix commie waste or penurt imparnnent or Jeterwration ul the Property
<br />and shat) comply with the provisions of any leax if this DeeJ of ")`rust is u^ a leaseheW. If this DecJ of Trust is on a unit in a
<br />condominium or n planned unit development, Borrower shall perform all c+1 Borrower's obligations under the declaration
<br />or eovenanfs creating or governing the condominium or planned unit development. the by-laws anJ regulations of the
<br />condominium or planned unit devetaprnent,-and eanstituent dceuments. if a ~unduminium or planned umt development
<br />rider is executed by Borrower and recorded together with this Ueed of Trust, the covenants and agreement,-ol such rider
<br />lira!) tie inrnrporated into and shall amend and sunptemem the covenants anJ agreements of this Decd oI Trust as rf the rider
<br />were a part hereof:
<br />7, Protectlttn of Lend=r's Security. If Borrower fails to pzrform the covenants and agreemenh contanrcd in this
<br />Deed of Trust, or if-any action or proceeding is carnmenced which ruateri:aly a8~ects LenJer's interest in the Pmpem".
<br />including, but not limited to, eminent domain, nuoivencv, axle enforcement. or arrangements or pr+,~~ecdings mw:hrng .e
<br />bankrupt or decedent, then Lender at 1-tinder's option, upcm notice to Borrower, may make such appraraaces. disburse .uch
<br />sums ettd take-such action as is necessary to protect lxnder'; interest, irtciuding, but not limned to, Jrsbursement ut
<br />reasonable attorney'; fees and entry upon the Prupeay to make repairs. i( Lcndcr :cyuired morgage insurance as ,.
<br />condition of making the loan sextited by this Deed of Trust, Aorrower shall pay tfie prcnuums required a, mrintam such
<br />insusateee in et[eet unit! su.;h time as the xegwrement for such ;nsurunce ternfi!tatcs in accordance wr!h Nnrruwer's and
<br />-Lender's written agreement or applicable law. t3orrows: steal? pas the atnounl of alE mongagt +nsuru- ~ -~.;wms in ttir
<br />manner provided under paragraph 2 hcrcitf.
<br />Any amounts disbursed t:y I-ender pursuant to this partgraph 7, with uuerest thereon. sh~3s r_.onn• addwonal
<br />indebtedness of ~Aarrower sceureal tsy this Iced of Trust_ Guts Borrower and Ler+der agree tc+ ether te++us of pajureui, suet+
<br />amounts shall be nayabia upon notice from LetiJct io Borrower reHUCating pay:netu thereof, and shalt Iran interest lean= the
<br />daka of dis{autsentent at the talc payable from time to time on omstanding principal under the :'vote tuucss payment tit i+ueresr
<br />at sUCh rate would Oro contrary-tu applicable taw, in which even! such amounts shall hear interest at the htgheu rate
<br />perirtistibla under applicable taw. ?viothing .~antaipnd iu thts puragraph 7 shall reyuire Lender t,+ inGUr any expense ur take
<br />any action hereunder,
<br />>L irape:ction. Lender Wray ntalca os cause to rie erode reasonable anvics uptsn and ms{xauuns ai the Properly, Pn,vLted
<br />that l.et+det 3IraI( give Bo€t,•rwer rint'ace prior to any stx.:h-lnsl~cnan s{+r::ilyirag reasonable cause there3or related to Lender`s
<br />rntettai ;n the-Protxrty.
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