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<br />82....~}05U~=~~
<br />UN/FOaM CoveN~n'rs. Borrower and 1_ender covenant and agree as follows:
<br />I. torment of Principal aad Iotereat. Borrower shall promptly pay when due the principal of and interest nn the
<br />indebtedness evidenced by the Note, prepayment and Tate charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Decd of Trust.
<br />2. Ftmds for Too and hattoraace. Subject to applicable law or to a written waiver by Lender, Bortower shall pay
<br />to Lender an the day monthly installments of principal and interest are payable under the Note, until the Note is pail in full,
<br />a sum (herein "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 o(yearfy premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reawnably 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 arc insured or guaranteed by a Federal ar
<br />stale 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, analy-ring said account
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower mterest on the Funds and applicable law
<br />permits Ixnder to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Deed of Trust that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings tin the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and dehits to the Funds :rod the
<br />purpose for which each debit to the Funds 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 with the future monthly installments of Funds payable prior «,
<br />the rifle dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes.
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall be. at Borrower's option, either
<br />promptly repaid to Bortower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they Fall due.
<br />Bortower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Gender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this DeeJ of Trust. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph I8 hereof the Property is sold or the Property is otherwise acquired by Lender, 1_ender
<br />shall apply, no later than immediately prior to the sale o[ the Propert}• or its acyuisnion by Lender, any Funds hell by
<br />Lender at the time of application as a crdit against the sums secured by this Deed of "trust.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Charges; Liet¢ Borrower shall pay all taxes. assessments and other charges. tines and impositions attributable 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 ur, if not paid in such manner, by Borrower making payment, when due, directly
<br />to Ute payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the
<br />even[ Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Deed of Trust; provided, that Burrower shall not be
<br />required to discharge any such lien sa long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith contest such lien hy, or defend enforcement of such lien in.
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5. IHarard I~urantt. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included wit}tin the term "extended coverage", and such other hazards as Lender may require
<br />and in sdch amounts and for such periods as Lender may require; provided, that Lender shalt not require that the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Deed of Trust.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provideD.
<br />that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. fender shall have the right to holJ the policies and renewals thereof.
<br />and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss,
<br />Borrower shall give prompt notice to the insurance carrier and Lender Lender may make proof of loss if not made promptly
<br />by Borrower:
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair is cconamically feasible :rod the security n( this Deed of Trust is
<br />not thereby impaired. If such tstorauon or repair is not economically feasible ur it the security oC thic Deed o('T'nist would
<br />be impaired, the insurance proceeds shall be applied to the sums secured by this Decd of "Trust, with the excess, if any. paid
<br />to Borrower. if the Property is abandoned 6y Borrower, or if Borrower fails to respond to Lender within 30 days Crom the
<br />date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim fur insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or to the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments. If under paragraph IS hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resulting Cram damage to the Property prior tit the sale
<br />or acquisition shall pass to Lender to the extent u[ the sums secured by this Deed oC Trust immediately prior to such sale or
<br />acquisition.
<br />b. Preservation and Maiotenartm of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />shall keep the Property in gaud repair and shall not commit waste or pa nnit impairment or deterioration of the !'nrpcrty
<br />and shall comply with [he provisions of any tease if this DeeJ of Trust is an a leasehold. IC this Deep n( Trust is on a unit in a
<br />condominium or a planned unit development, Borrower shall perform all nt Borrower's obligations under the declaration
<br />or covenants creating or governing the condominium or planned amt development, the by-laws and regulations of the
<br />condomiaium or planned unit development, and constituent documents. If a condominium or planned unit development
<br />rider is executed by Borrower and recorded together with this DeeJ of Trust, the covenants anJ agreements of itch rifer
<br />shall be incorporated into and shall amend and supplement the covenants and agreements of this Deed tit "Trust as if the rider
<br />were a part hereof.
<br />7. PrwcetYon of Leodtr's Security. if Boerowcr fails to perform the covenants :mD agreements contained in this
<br />Deed of Trust, or if any action or proceeding is commenced which materia!!y affects l._ender's interest in the Property.
<br />including, but real limited to, eminent domain, insolvency, Cade enforcement, or arrangements ur proceedings involving a
<br />bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower, may make such appearances, Disburse such
<br />sums and take such action as is necessary ro protect Lender; interest, including, but not limited to, disinu semem of
<br />reasonable attorney's fees and entry upon the Property to make repairs. IC Lander required mortgage ;rsurance as a
<br />condition of making ibe loan secured by this DeeJ o[ "Total, Borrower shall pay the premiums reyuiral to maintain such
<br />insurance in effect until such time as the requirement for such insurance terminates in accordance with florrower~ anD
<br />Lender's wriUwt agrcetnent or applicable !aw. 8orrower shalt pay the amount of all mortgage insurance prcmiutns in the
<br />manner provided under paragraph "_ hereof.
<br />Any amounts disbursed by 1_cnder pursuant to this paragraph 7, with interest thereon, .itsii ~~•~„me additional
<br />indebi ness of Borrower secured by this Deep of Truu. Unless Harrower and Lender agree to other ~? payment, such
<br />amounts shall be payable upon notice from Lender W Harrower regtecsrng payrrsent thereof. and shat ~... ~ntereat from the
<br />daft of disbursement at ?bt raft pxyabie from time to lion: tin ountanding principal render the No~c nnlass payment o/ interest
<br />at such raft would bt contrary to applicable law, in which event such amrnutts fiall bear mterest at the highea rate
<br />ptrrttiasible under applicable law, Nothing contaiced in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />&. inspection. t_erxler may make ur caose to be nead~ reasonable entrees upon and mspeenons of the Pn?{rent', pt oviJcd
<br />that Ixnder shall give Borrower notice poor to :my such insptcuon sptcifyutg reesoaalrle .au>a thcrs+lur rcl:rtrai ro I ender',
<br />+merest in the Prooerty,
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