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<br />Utvtros:vt roveNSr+rs. Borrower and Lender covenant and agree as follows: ~ -
<br />I. Payment of Principal and Interest. Borrower sha31 promptly-pay when due the principal of and interest on (heF~
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest -
<br />om any Future Advances secured 6y this Deed of Trust.
<br />2. Funds for Taxes and-Ittsoraner. Subject to applicable law or to a written waiver by Lender, Borrower shall,pay - -
<br />to i_ender ar, tF,e day monthly installments of principal and interest are payable under the Note, until the Nete is-paid in full,
<br />a sum (herein "Funds"} equal to one-twelfth of the yearly rases 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 instaliments for haurd insurance, -
<br />plus one-twelfth of yearly premium instaliments far mortgage insurance, if any, all as reasonably estimated initially and fiom-
<br />time to time 6y Lender on the basis oC assessments and hilts and reasonable estimates thereof. -
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed 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 said assessments and bills, unless Lender pays Borrower interest on the Funds and .applicable taw
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution- of this
<br />DeeJ of Trust [hat interest an 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 reyuired to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of [he Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />h_v this Deed of Trust. - -
<br />If the amnurt of the Funds held by Lender, together with the future monthly installments of Foods payable prior to
<br />the due dates of taxes, assessmens, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessnrrnts, insurance premiums anJ graund rents :is they fall due, such c.ccess shall be, at Borrower's option either
<br />promptly repaid to Borrower ar credited to Horrower on monthly installments of Funds. If the amaunt of [he Fundx
<br />held by Lender shall oat be sufficient io pay taxes, assessments. insurance premiums and graund rents as they fall due.
<br />Borrower shall pay to Under any amaunt necessary 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 alt sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any F[mds
<br />held by Lrnder. [f under paragraph 13 hereof the Property is sold or the Property is otherwise acquired by Lender. Lender
<br />shall apply. no later than immediatcl}' prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />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 receis ~Ki by Lrnder under the
<br />Note and paragraphs 1 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 an the Note, then to the principal of the Note. and [hen to interest and
<br />principal on any Future Advances.
<br />d. Char>Zes; Liens. Borrower shall pay all cases. assessments anJ other charges. fines :rod Impositions nttribuiablc to
<br />the Property which may attain a priority over this Deed of Trust, and IeaseholJ payments ar ground rents, if any, in the
<br />manner provided under paragraph 2 hereof or, if ^ot paid in such manner, by Borrower making payment, when due, directly
<br />to the payee thereof. Borrower shall promptly' furnish to Lender all notices of amounts due tinder this paragraph, rend in the
<br />event Borrower shall make payment directly, Borrower shall promptly furnish to t-ender receipts evidencing such payments.
<br />Borrower shall promptly discharge any Tien which has priority over this Deed of Trust: provided, that 8orrowrr shat) not br
<br />required to discharge any such Tien su long as borrower shall agree in •.+•riting [a the payment of the obligation secured bg
<br />such lien in a manner acceptable m Lender, or shall in good faith contest such lien by, or defend enforcement o[ such lien in.
<br />Icgal proceedings which operate to prevent the enforcement of the lien or Carfeiture of the Property ar any part thereof.
<br />5. Hazard Insurance. Borrower shall keep the improvements now existing ar hereafter crecteJ on the Property insured
<br />against loss by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may requ¢e: provided. that Lender shall not require that the amount of
<br />such caverace exceed that amount o! coverage rcyuved to pay the sums strured by this Dced of Trost.
<br />`Cho insurance ctrrrier providing the insurance .hall br chosen by Horrower subject to approc:d ly L.en ±cr, prmldeJ.
<br />that such approval shall not he unreasonably withheld. All premiums un insurance policies shall hr paid in the manner
<br />provided under paragraph '_ hereof or, if not pail m such manner, by Harrower making payment, when due. directly to the
<br />insurance terrier.
<br />:Z!3 insurance pahcies and renewals thereof shall rx' an term acce-ptable to Lender and sha1V include a standard mortgage
<br />clause in favor of and in torn aticcpiahie iv Lc-nJrr. i.cndcr shall haec the nght to half the policies and renewals thereof,
<br />~inci Borrower shall promptly furnish to Lender ;JI renewal notices anJ all rccetpts of n:ud premiums. hi the event of loss,
<br />Borrower slap grove prantpt ncciee to :fie uisGrance carrier :utci Lender. Lender may maize proof of toss if acx made promptly
<br />by Horrew'rr-
<br />Unless Lender trod Borrower otherw•msr agree in w rising, msuruuc proceeds +hall tx. applied to resteralirnr ar repau of
<br />the I'roprrty damage), provided wch restoration or rapau a catnonurally ic:uille clod the sccurin• of the Deed of "frost ;~.
<br />not thereby unpaired. tf such mstoration sir rrpu:r is not rcanomicully fe:tsthlr sir iP the security ot'this Dead of ~I'nut would
<br />be Impaired. [he insurance proceeds shall he applirJ to the sums secured by chi. Uced o! "Crust, -smh the excess. If an}. prod
<br />n; Borrower. if the Property is abandoned by Borrower, or it forrower fails to respunJ Io I_rndcr within ?D Ja}s from the
<br />date nonce is mailed by !.ender to Borrower that the insurance carrier offers to settle a claim for insurance ttrnefits. Lander
<br />is authotizeJ to cu'.lect and apply the insurance proceeds at Lender's option rlthrr to restoraton or repair of the Properly
<br />or ro the sums secure) h}' this Deed of 'Tnmst.
<br />Unless Lender and Borrower oche revise agree in wrung, :sit} wrh upphemion of proceeds to principal shall not eaten)
<br />or postpone the Jue date of the monthly instaliments retcrrCd to in paragraphs I :uiJ 2 hereof ar change the amount ni
<br />such installments. If under paragraph ! R hereof the Proper!} Is acquired b}' Lender, :dl nght, title anJ nnerrst of Borrower
<br />in and to am' insurance policies rend in and to the proceeds ihenot resulting from damage to the Property prnrr to the sale
<br />or atyuismtion shall pass to !.ender to the extent of the sums secure) h}' this Dced at Crust Ilnnrediare{y poor to such .ale or
<br />acyuisition.
<br />6. Presrrstuion anJ Motntenancr of Property; Lensrhulds; Condominlwns; Planned Unil Developments. Borrower
<br />shall kcip Ihr Proper t} iu goad n•pa:r auJ shall real eonunn w;ulc ,n pcrnnl imp.unncut .n~ Irtrnuru ion sit the Proper!}
<br />and shall cnntpl}' wnh the proyislons at any lease if this Deed nl l rust is on a leasehold. If this DeeJ of 'Polar a on a unit sit u
<br />rondaminium or a pi;umed unit development, Borrower shall pr rlonn all of Horrower's obligations under the Jrclar:uron
<br />ar revenants ereaung or governing the condominium sir planned and devclopmrnt. the by-laws :ntJ regulaueau of the
<br />condominium or planneJ unit developmcnL :rod cunstiurrm tlocuna•nts. if a condominium or planned urn drvrlopnrent
<br />rifer a execute) by Horrower and reconleJ together with this Deed crl I rust, the covcnmrts ~tnd agreement. of such rider
<br />shall br mcarporatrd into aaJ shall amend mid supplement trine covcuants :wd u~rr-enterers sit this DeeJ nt "i'rusm :u if the rider
<br />were a part hereof.
<br />7. Protection of 7 endrr's Security. If Borrower fads to prrlonu the c~vrnmus :;red akrrements ront:uneJ itt Ihts
<br />DeeJ of "Crust, sir if :my aeuun nr proceeding is commenced which nsucnally ,tlfects !.ender'. :referee in the 1'n+{terry,
<br />utchtding, but not IimiteJ to, eminent Jomain, insolvency. code en(orcenrent, or arr:mgrnmrnta or proceeding. m+olvmg :.
<br />bankrupt or decedent, then Lcndrr at Lender's option, open notice to Borrower, may mm~kc such appeortnc,~es, di,hnnr cuoh
<br />sums and take such action as is necessary to protret L.ender's imerest, inchtdmg, he' not !united to, disburwntrnf rt
<br />reasonalle attorne}''s fees and entry upon the Praprrty to make repairs. IF Lender reyuiretl mongu gr nlsuranec• us n
<br />condition of making the lastr secured by this Deed of 'T'rust, Horrower shall pay the premiums rcymrrd to ;n;untnm wch
<br />insunutec in effect until such time as the rcyuirement fur sue! insur:umcr tcrminntcs in accarcianm wul Iiomlwrr's and
<br />Lender's written agreement ar applicable law, Horrower shall prey the :unount of all nmongage in+ur:mcc pn•uuunis m the
<br />manner provided onJrr paragraph 2 herra[_
<br />.Any anraunls disbursed by Lender pursuant to this parugrt ph 7, with uucrest Ihrnaui, shall i~rrome addiuonni
<br />hxiehteJness of borrower secured by this Dred of Test. li nlrss Harrower anJ bender agree to other terms of paynmenf. xlth
<br />amounts shall he payable upon notice from Lender to Horrower requesting paynment ihercof. and ..hall hue internal tram ihy
<br />date at disbursement at. the rate payable from time to time on outshuuling principal under the Vote unless payment of interest
<br />nt such rate weal) br rnntraty to aPPlicable taw, in which event such nmmurn ,hall beam rearrest sit the highest rote
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall rcyuire Lender ro tarot any expense or take
<br />any action hereunder.
<br />R. Inspection. Lender may make I?r cause to 6e mady riascaeable ntrir.: -IP t im1 tins -e.ct~ons of the Praprrty. {uc~v:Jed
<br />that Lender shall give Darrnwer notice prior to :my sus.h m pt.ctiol -nt --dying r ~ , unahic s mr_-s therefor rrl-nett rn i,+•nJcr's
<br />interest in the Property.
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