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79- uc;E35U3
<br />Uxtroana CovexnNrs. Borrower and Lender covenant and agree as follows:
<br />I. Payment of Principal and Interest. Borrower shall promptly pay whey. due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Deed oC Trust.
<br />2. Feuds for Taxes and fnsuratece. Subject to applicable law or to a written waiver by Linder, Borrower shall pay
<br />to Lender on the day monthly installments of principal and interest arc. pa}'able under the Note, until the Note is paid in full,
<br />a sum (herein "Funds"} equal to one-twelfth of the yearly [axis 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 for mortgage insurance, if any, all as reasonably estimated initially and Crom
<br />time to time by Lender on the basis of assessments and bills and reasonable estimates themoi.
<br />The Funds shall be held in an institution the Biposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an iestihrtionl. Lender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge for so holding and appl}•ing the Funds, analyzing said account
<br />or verifying and compiling said assessments and bins, unless Linder pays Borrower interest on the Funds and applicahic lax
<br />permits Lender to make such a charge. Borraxer 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 Burrower, and unless such agreement is made or applicable law
<br />requires such interest [o be paid. Lender shall not be required to pay Borrower an} interest or earnings on the Funds. Lender
<br />shall give tr. Borrower, x•ithotit charge, an annual accounting of the Funds chowmg credits and dchih to the Funds ;end the
<br />purpose for which each debit to the Funds was made. The Funds arc pled¢td as additional security for the sums secured
<br />b_v this Deed of Trust.
<br />If the amount of the Funds head by 1_endcr, together Frith the futive momhh insiallmenn of Fund. pa}ahte prior tx=
<br />the due dates of rases, assessments, insurance premiums and ground rents, ;hall cscecd the amount required to pa} said rase..
<br />assessments, insurance premiums and ground rents as they tall due. such excess shall be. at Boa-ower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. iC the amount of the Fund,
<br />held by Lender shalt not be sufficient to pay taxes, ascessntents. insurance premiums and ground rents as they fall due.
<br />Borrower shall pay to Lender any amount necessan' to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph IS hereof the Proptny is :old or the Property is otherwise acquired b} i_ender Lender
<br />shall app(}', no later than immediatel}• prior to the safe of the Propertc or its acquisition be Lender, soy Funds held b}'
<br />Lender at the time of application as a credit against the cams secured by this Ueed of Trust.
<br />3. Application of Patments. Unless applicable law provides othenvisa, ail payments raceiv'ed by Lender under the
<br />4nti and naraQranhs I and 2 hereof shall he analitd h} l-ender first in payment of amotmts payable to 1_ender by Borrox~er
<br />under paragraph ?hereof, then to interest payable on the: Note, then to the principal of the Note. and then to interest and
<br />principal en any Future Advances.
<br />3. Charges; Liens. Borrower shall pa} al! laic.. assessments ar.d other :barges. fines anJ rmposrtiotts attrihutablc to
<br />the Property which may attain a priority over th;s Deed of Trust. and leasehold payments nr ground rents. if an}'. in the
<br />manner provided under pazagraph 2 hereof or, if not paid en such manner, by Borrower making payment. when due, directly
<br />to the payee thereof. Borrower shall promp05' furnish to Lender all notice: of amounts dui under this paragraph, and in the
<br />eveai Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien xhich has pnerity ever this Deed of Trust provided. that Borrower shall not tx
<br />required io discharge any such 3ien so long as Borrower shall agree in u-riling to the payment of the obiigaron se^.urtd b}
<br />such lien in a mantrer acceptable to Lender, a shall in gs~::d faith comest such lien hv. or .lefend tnforcemeni of sn;h lien m.
<br />legal proceedings which operate ro prevent the enforxmant of the lien or forfeintre of the Propert} or any part thereof.
<br />5. Hanrd Itasvrnace. Bono=•er shall k:,ep the improvements now ejisting or hereafter erected on the Property insured
<br />against Foss by fire, hazards irciudeu within the +erm "extended coverage'". and su.h other hazard; as Lender ma} requrre
<br />and in such amounts and for such periods as I_endtr ma} require: provided- that Lender shad rein regtnrc that the amount o!
<br />stn;h coverage eseetd that amount of coverage required to pay the sums ;toured by this Deed of Tntst.
<br />The insurance cattier providing the insurance shall be chosen h}' Benower sub:ect to approval h}' (.ender. provideJ-
<br />ihat such approval shall no! be unreasonahh withheld. All premiums on insurance policies shall he paid in the manner
<br />provided under paragraph 2 hereof or, if oat paid in such manner, by Borrower making payment, when due, directly to the
<br />ittsutance Carrier.
<br />All insurance pohcies and renewals thereof shall tx: m form acceptable to 1 ender and steal( Include a standard mortgage
<br />clause in favor of and in form acceptable to I_tnder. Lender shall base thr nght to hold the pohciis and rentxals thereof.
<br />atad 8orrox•er shall promptly furnish to !.ender all renexal notices and a!1 receipts of paid pamiums. !n the event of loc..
<br />Sorrow°er shall give prompt notice to the msurance carrier and Lender. Lender ma? mai.e pro f o: ?oss +t not msdt prompti}-
<br />bv Sorroxer.
<br />Unless Lender and Borrower otht:w~ise agree in writing, insurance pr,ceeds shall ix applied to restoration or repair of
<br />the Property damaged, provided such restoration or reps*.r is econom+.a!!v tensible .,red the secant} o',' -file Deed of Trust is
<br />rwi ihertb}' unpaired. If such restoration or reparr + not economicsil} icas+hle or if the ,es:urit}• of this Deed of trust would
<br />bC tmpair,ed, t!~ inrrrasCe pr~r~s shall tx apphtd tc. the sums secured h}' this I?=td of Tn1st. x!th alit tit°:s..f an}. pal
<br />to Borrower. If the Ptnperty rs abandoned by &irrawtr. cr if Borrower fails to respond tc. Lender xuhtn i0 da}s (rona iltr
<br />date rxstice ;$ mailed 6y Leader to Harrower that the insurance carrier offer, to stole a ,:(aim for insnrance ixnefits. Ixnder
<br />is authariud to roiled and apply the insurance prtw.ttds at Leader's option erther to restoration or repair of the Propert}
<br />or to the sums secured by this Died of Trust.
<br />Unless Lender and Borrower otherwise agree in venting, an} such aPphcaucu of pr,<eeds «~ pnncipaf shall not extend
<br />or postpone the due diet of the month!} installments retorted Cis in paragraphs ' and '_ hereof or :hinge the amcn:m s=,
<br />sac!: instal3mtnis_ If under paragraph i8 hueoi the Proxrts m acquated t•} lz•ndtr, 3i[ nght, title and !merest of Borrox er
<br />in and to any insurance pohc+es and m and a' the proceeds thereof resulting from damage to the Propcrq poor to the snit
<br />su acquisition shall pass to Lender to the eiteni of the sums >tcure-d h} the-: Ik.rd of Trust immcdiatet} poor to woh saie~ or
<br />acquisition
<br />6. Ptesv~-atioa and Maintetutue of Propem; Lcasehotds; Condominiums; Plannr3 Uait llevelopmrnts. Sort,=x er
<br />s!;all leer thr Proper[, in gk+,~ repair and ;hail not :,~mn,;t was.e ._ ~~rrrn imps,rmer.t ,r fetrrit=rati=•n nt rho Pre=p-•n.
<br />.+nd shall comply with the pre,v;s:ons of tin}- fez,se if this Deed of Trust afore a ieasehuld. It this Deed of Trwt is on a unit to :+
<br />candominturn or a planned unit devtinpmtnt- Hornwtr shall pectorm ai? of Borrower- ot,;;gat~om under the declaration
<br />,r covenants .resting or gavetning tht condamsnium ns planned unit dtveiapment. the h;-lays and reguiatinns of the
<br />condominium or planned unit developrtrent. and constuucm daumtnts. li a condominium or planned amt eicselopmtnt
<br />rider is ezecuied by $orrawer area recorded tcetther with this Deed oS Trust, the .ovenems and agrcereznt, of such rider
<br />shat! lx in;xrrporated imo and shaft atnttad and supplement the covenants .,nd egreements ni this llced ,~; l rust as if the rider
<br />iserc a part hereof.
<br />7. Protection of Lender's Security. If $onowtr fads to perform the cottnams an.# a..reem_';!" =r!a,r.d in, the.
<br />Deed of Trust, ct if an} aCtiGn ar pt:~ted:rte mmeaced which ,z±atcr+alli atFecte fxnJer. !merest :n the Prnpirrx.
<br />itxltrding, but teat fimi[td to, eminent doma+n~ insolvenC}, code enfor,:trttent, or arrangement. ~=r prirceedines involving a
<br />Liaakrupt err da-edenL then fzndtr at Lender"s optron, open notice to Borrower, ma} make such appearrnce,. d»hune such
<br />sums and islet such action as is necessary to protect Lendei s mterest, mciudtng t,ut not limited u,, dishursemem of
<br />tteastxtab~ attort~vs fees and miry upon zbt Property to make repairs. if Lender required mortgage imurance as a
<br />condition of making the loan starred by this Deed of Trust, Borrower shall pay the premiums required to maintain such
<br />imurance sty t$txt until attdr time as the requirettrent for such insurance terminates in accordance woh Borrower's and
<br />f.enda's writtttt agraaxnt or appliealsk Law. Borrower shall pat the amount of ail mortgage msurance premiums in the
<br />rnarirter ptvvided under paragraph 2 6ereaf.
<br />Arty amounts dislxirxd by Isader pursuant to this paragraph 7, with intertsz thereon, shat! became additional
<br />i>adebttxtrtess of Borrower txcurtd b}• this Dad of Trent. Unless Borrower seed Lender agree to other terms of payment, such
<br />atrrotmts s`valf bt payatrk upon mXitx from finder to Borrmver requesting pa}'ment thereof, and shalt hear interest from the
<br />date t>f d~trsertaeat at tlft late payable from time to time on outstanding principal under the Note unless pa}'tnent of interest
<br />ai such rate would be Contrary ?o applicable Ittw. in which event such amounts shall hear interest at the highest rate
<br />permissible under applicable law. Afothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />enY Mfl~ IiC!'CUttdtr.
<br />&. Impeedon. [,ender may make or carne to bi made reasonable entries upon and inspections of the Propert}, provided
<br />that Leader shat! give &trrower notice prior to any such itnpection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
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