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<br /> 200908584
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<br /> UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br /> 1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal and interest
<br /> indebtedness evidenced by the Note and late charges as provided in the Note.
<br /> 2. Funds for Taxes and Insurance. Subject to applicable law or a written waiver by Lender, Borrower shall pay
<br /> to Lender on the day.monthly payments of principal and interest are payable under the Note, until the Note is paid in
<br /> full, a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments (including condo- minium and
<br /> planned unit development assessments, if any) which may attain priority over this Deed of Trust, and ground rents on
<br /> the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly
<br /> premium installments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by
<br /> Lender on the basis of assessments and bills and reasonable estimates thereof. Borrower shall not be obligated to
<br /> make such payments of Funds to Lender to the :exterit.Jhat .Borrower..makes such payments to the holder of a prior
<br /> mortgage or deed of trust if such holder is an institutional lender.
<br /> If Borrower pays Funds to Lender, the Funds shall be" held in an institution the deposits or accounts of which are
<br /> insured or guaranteed by a Federal or state agency ) y (including Lender if Lender is such an institution .Lender shall
<br /> apply'<th'e Funds to"pay said, taxes, assessments, itisurace':premiums and ground rents -Lender may, not charge for so
<br /> holding and applying the Funds, analyzing said account or verifying and compiling said .;assessments and bills, unless
<br /> Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br /> Lender may agree in writing at the time of execution of this Deed of Trust that interest on the Funds shall be paid to
<br /> Borrower, and-unless such agreement is made or applicable law requires such interest to be paid, Lender shall not be
<br /> required t o pay to,~
<br /> annual accounBorrower 'any' interest or earnings on the Funds Lender shall gire orrower, without charge, an
<br /> ting of the Funds 'showing credits. and debits to the.Funds and the 'pur`pose' for which each debit to the
<br /> Funds was (made. The Funds. ar..e.p.ledged. as add itional..security''for the. s.Ums iseoured, bX:this. Deed of Trust.
<br /> If the.;amount of:the Funds held,by_Lender, together with the future n1on ly.ir!stallrilents of Funds payable prior to
<br /> the due dates of taxes, assessments, insurance premiums. and ground rents, shall exceed the amount required to pay
<br /> said taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's
<br /> option; either. promptly repaid to Borrower. or, credited, to Borrower on.mQnthly installments.of Funds. If the amount of
<br /> the Funds held hey fall. due,' Borrower shall panto tender~~rent to'bay bnf xes,' ary to ma e.ecmi mbred m as
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<br /> Y pay y`amoGnt'necessa to make'up the deficiency in ' one or pa ments
<br /> as Lender may require.
<br /> Upon payment in full of all sums secured by this Deed. of Trust, Lender.shall. promptly ,refund to Borrower. any
<br /> Funds held by Lender. If under paragraph 17 hereof the `Prop'erty is sold or the Property is otherwise acquired by
<br /> Lender, Lender shall apply, no later than immediately prior to the sale `of the Property or its acquisition by Lender, any
<br /> Funds held by Lender at the time of application as a credit 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
<br /> the Note and paragraphs 1 and 2 hereof shall be'applied by Lender first in payment of amounts payable to Lender by
<br /> Borrower under paragraph 2 hereof, then to interest payable on the Note, and then to the principal of the Note.
<br /> 4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations
<br /> under any mortgage, deed of trust or other security agreement with a lien which has priority over this Deed of Trust,
<br /> including. Borrower's covenants to make payments when due. Borrower shall pay or cause to be paid all taxes,
<br /> assessments and other charges, fines and impositions attributable to the Property which may attain a priority over this
<br /> Deed of Trust, and leasehold payments or ground rents, if any.
<br /> 5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br /> insured against loss by fire, hazards included within the term "extended coverage", flood and such other hazards as
<br /> Lender The"in may require
<br /> uranceuire and carrier in such rovidin the amounts and for iiisuraribo~ such periods a Lender may require.
<br /> ac est ble to Lender and shall include' a a 'standard hall by chosen by Borrower subject to approval by Lender, provided,
<br /> pp a y held. All insurance policies and renewals thereof shall. be in, a form
<br /> kt
<br /> p d mortgage clause in favor of and in a,form acceptable t6_Lerider.
<br /> Lender shall have the right to hold the policies and renewals thereof, subject to the terms of any mortgage, deed of trust
<br /> or other 1ecurity agreement with a Ii.en which has priority„ever this Deed of Trust. ..In the event of loss, Borrower.shall
<br /> give prompt„n.otice, to the insurance carrier and Lender. Le. rider may `make. proof of J4ss if`: oat made promptly by
<br /> Borrower.
<br /> If the Property i$; abandoned. by Borrower, or. If Borrower; fails to respond to Lender within .30 days from 'the date
<br /> notice is`maifed by Lender to Borrower that the insurance carrier offers to settle a cl'aim`for insuran:ne benefits, Lender,is
<br /> authorized. to collect and apply the insurance proceeds at Lender's option,e,ither to„ restoration or'repair of the Property
<br /> or to the stains secured by this Deed,of Trust.
<br /> 6 Preservation and Ii,amten:ence;of Prop
<br /> arty; Leasholds;;Gon.do.mmiums, Planned. k1nit Developments.,
<br /> Borrower shallkeep the Property in good repair and shall: not commii'waste"or permit. uripairmenf or de, terioration of the
<br /> Property and shall comply with the or of any lease if this Deed, of Trust is on :a leasehold: If. this "Deed of Trust is.
<br /> on a" unit' in a" condominium or a planned 'unit `development, Borrower `shall perform aII of Borrower's obligations under
<br /> the declaration or covenants creatn9 or. governing the condominium or planned .unit development, the by-laws and
<br /> regulations of the condominium or 01.anne.d unit development, and constituent documents. °
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<br /> ENE204 revised 10/2001 (LASER) 6840LL
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