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<br />Urvrr'oak Covervnrvts. Borrower and Lender covenant and agree as follows:
<br />I. Payment of Principal and Interest. Borrower shall promptly pay when 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 am Future ,n Jvances secured h}' this Deed of Trust.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shah pay
<br />to Lender on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in toes,
<br />a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Decd of Trust, and ground rents on the Property, if any, plus Date-twelfth of yearly premium installments for hazard insurance.
<br />plus one-t+ve!fth of }•early premium installments for mortgage insurance, if any. all as reasonably estimated initially and from
<br />time to time by Lender on the basis of assessments and bills anJ reasonable estimates thcmof.
<br />'The Funds shall he 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 laves. assessments.
<br />insurmce premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account
<br />or verifying anJ compiling sail assessments anJ bills, unless Lender pays Borrower inttrest on the Funds and applicable taw
<br />permits Lender to make such a charge. Borrower and Lender may agree in wilting at the time of execution of this
<br />DeeJ of Trust that interest on [he Funds shall ate paid to Borrower, and unless such agreement is made or applicable law
<br />«quires such interest to hr paid. Lender shall no[ be regmred to pay Borrower anv interest or earnings on the Funds. Lender
<br />shall give to Aorrower, without charge, an annual accounting of the Funds showing credits anJ 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 stems secured
<br />by this Detd of Trust.
<br />If the amount of the Funds held by Lender. together with the future monthly installments of Funds payable prior to
<br />the Jue Jatcs of taxes, assessments, insurance premiums anJ grown) rents, shall exceed the amount required to pay Bard taxes.
<br />assessments, insurance premiums anJ ground rents as they tall due, such excess shall he, at Borrowers option. either
<br />prompth• repuiJ :n Borrower or credited to Borrower on monthly installments of Funds. if the amount of the Funds
<br />he1J by Lander .shall not he suf}icirnt to pay taxes. assessments, insuranct premiums and ground rents as they fall due.
<br />Borrower shall pay to Lender any amount necessary n, 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 lull of ail sums secured by the Deep of l-rust. Lender shall pmmpay refund :o Borrower any Futtefs
<br />held by Lender. If under paragraph IS hereof the Proptrt>• is sold or the Properly is otherwise acquired by !.ender. Lander
<br />shall apply. no later than immediately prior to the ;ale of the Property or its aeyuisition by Lender. any Funds held by
<br />Lander at the time of application as a credit against the wins secured by this DeeJ of Trust.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments recetveJ 6v Lender under tfie
<br />tiote anJ paragraphs t anJ 2 hereof shall }te applied by Lender first in payment of amounts payable to 1 crsder by Borroutr
<br />under paragraph 2 hertof, then to interest payable on the Note, then to the principal of rhr Note. and then to interest and
<br />principal on any Future AJvances.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments anJ other charges. fines and imposuinns attrihutabk a,
<br />the Property which may attain a priority over this Deed of Trust and leasehold payments nr 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. directly
<br />to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts Jue under this paragraph, and in the
<br />event Borrower shall make payment directly. Borrower shall promptly far, cosh to Lender receipts evidencing such payments.
<br />Borrower shall promptl}• discharge any lien which has priority Deer this Deed of Trust: proviJeJ, that &trnnver shall nett etc
<br />requred to Discharge any such lien so long :w Borrower shall agree in writing to the payment of the obhgauon secured b}'
<br />such lien in a manner acceptable to Lender, or shall m good farch contest such lien My, or Defend enforcement of wch lien m.
<br />Iegai proceedings which operate to prevent the enforcement of the lien or fittlriuue of the Properry• or any part thereof
<br />5. Hazard Insurance. Borrow-er shalt keep the improvements now- exsung or hereafter erected on the Property insured
<br />against loss h+' fire. hazards inclcAed within the term °extendeD rovrrage'", anJ +wch other hazards as Lender may reyinrc
<br />and m such amounts and for wch penods as LenJer may rcyui«; prmiDeJ, that Lander shall not reouirr the[ the amount of
<br />such coverage exceed that ammmt of eoveragr required to pay the sums mrured by this Deed of Trust.
<br />~fhe insuranct a,rritr providing the in+urancr ,half tat cho+en by Burrower subtect to eppro+ai b} Lender, proeiJeJ.
<br />that such approval shall not ate unreasonably wghheld_ All premiums on insurance purities shall hr pa:J in the manner
<br />provided under paragraph '_ hertof or, r[ not pard in such manner, by Borrowrr making payment, when due. Directly to [he
<br />insurance carrier.
<br />:\II insurance policies anJ renew als thtrrut shall hr m tnrm acceptable to Ixmier and .half :n iadt a >tanda rd mortgage
<br />clause :r. favor of and is form a_~tptaMe t_ Lcrder. Lender ;hall have the right to hold the purities and rent:+a!s lhereoL
<br />anJ Borrower ,hall promptly furnish to isndrr ..11 rneual notices anD :dl «ceipb of pail premiums In the event of los+.
<br />8orrouer .hall ¢.:e +trompi noucc u, nc~ utsurance caterer .+nti i.tuDtr, i.rneier mac make prcxd of loss .f not rt:dt prompth
<br />bV Borrower
<br />(!nless !.ender and Bot rower nthcru ise agrce ir. ,+nt:ng.:r:,urutrc proerrds .hall ix appheD to :e,toratioa ,:, :tpa+r •d
<br />the Properly danmgeJ. pt oriJcJ ;wch resn,ranon ur rep;nr n rcononneally tci,ihir .,nil the ,loran ,a du, Dec. ~n frost ~,
<br />not thereby impavtJ. 1( w:h reskx soon or repair is not econnmicalh- h•asihlr ur it the ,e~urnv .,t thn Used •a I iu,i wauW
<br />ht impaired. the inwruice prctcetds ,hall tar appheJ to the win, secured by this Uced nt 17u+t. „nh the t+. c,,..I ant. peril
<br />to Horrosccr. If the Yropcrt} i, .ibandoneJ M' Bntn,wrr. nr ii 8on~„wcr fad, to iespunJ u, Lcndtr ,, rlun i(l dot, Iron Ihr
<br />Date nouee is ensiled by Lander w Borrower that the unurancr r.:rntr infers to +ettlt a rlaun tar ~n,u; unto hr nefii,. I ender
<br />is authunzed to culiea and apply the insurance proceeds .n 1_enders option en her k, ~+,+a rrnon ,v :tpa~r n: the Pm{>em
<br />ar to tht sums vcanrd by this Dred of Tnist.
<br />Unless Lander anJ Borrower otherwut agree m wru inc, .ut+ ,wch .ippltcauun ,u pntcceJs t., pan, q,ai +hall not rstend
<br />or postprtne the Jue Date of the monthly installmxnt+ rater red to m paragraphs .wd ) hrrco! o. ;h,u:ge the amount n:
<br />such mstallmtnts. If under paragraph I ti hrreol the Property is acyuireJ h} 1_enJrr, .di i fight. watt ,nut ~atere+t of Born,wer
<br />in anJ to tiny insurance policies and m anJ to the pntceeJs tht«ol resulting tram Damage io the Ptaxrt+ pnrv in the ,ale
<br />or acyuisnntn +hall pass to I_xnder to the extent of the uum ,tone) nt this Decd of 1 rust nnntedwtrl+ ~ n; t„ ,wch .alt n.
<br />acyu6itiun.
<br />6. Preservation anJ Malatsnance of Property; ha•naeholds; t'ondominiums; PlanneJ !bit Uevrlopmrnts. Ho: r,,.. c:
<br />,hull Leap the hnry,c•rn nt gun) u•p.ui .,nil ,hall coq .Downs is a,ic :~i prima int P.n norm, o~ Jric n.•rau,•n .~' ;tu• Piuperts
<br />and shat! comply with the provisions nt any Iraxr if This DceJ .,f I rn+: n an ,, Itusrhuld It chi, Ik•m .~t Il u,i ., .m ,, ,.ant m :,
<br />condomirnum ur a planned unit development. Dotrowei ,hall ix [loon .ill of Hon-nwrr, ,:hhgatmn, :,n,tr: ;hc dt+l.u span
<br />or cu+xnants e«aung ur gu+erning the conJomunum ui planutD unit dt, rlopmtm. ihr ',+-law, :cod :eculanon+ „t the
<br />condominium or plunneD amt Jevrlopment, and ronsunicn: dnrumtnt+ It ;i a,nd,,minium or ,tonne) non Jc, rlopmcnt
<br />oiler i+ oxecottJ by Borrower nnJ rtt~orDtJ together with thi+ Dyed of I ntsl, the co+cnant+ ;inJ a¢«rn:con .q ,wch uJrt
<br />shall he incorporated into and shall acorn) anJ +upplcmcnt the a,tcu:nu, .inJ .igreeniems .,t ihr+ Deaf ,•; l ni,i ~, ,C der nDci
<br />weer a part hereof.
<br />7. Preleclbn of Leader's Secures}. If Borrower tints to prrtnnn the .tit cn:uus an.l aCretnunt, ,.~nuuncJ ui ihr.
<br />DteJ of 17iist, ur i( any aihon ur Prtnardutg i+ conunen~rJ which netenalh .uteri, Lewder', :nirn•,t :n the Pr„pcrty.
<br />including, but nut IimueJ to. eminent Domain. mx,h'rnet, axle rohactnrtnt. ,+r ;ur:mgement+ .+r proxcdmg+ nn,dt wig .i
<br />bankrupt or dreeJrnt. then LenJer ;u Lender's option, upon nrn.c to Rurmwrn m;,p make such .ipptarina., Di,l,nr,c ,uth
<br />sums and take wch action as is necessary m protect Lendt r', roar «+t. including, hid nut hooted to. ,h+hunemem :,t
<br />reasonable ~u lomev's fens anD curry ulxm the Propera to ntakc rep:ur, It Lendrr «yun rct i,uxtgaec m,w watt .i, .i
<br />condition of making the loan stcureJ by Ihia UetD of -Dust. Burr,awa ,hall pa} the prenuum, icywraJ i,, ~n:untaui ,ueh
<br />insurance in varlet until such time .u the rcyuirement l.,a ,wch insu,^.u!ct tennin;Ur+ in .,;urr,la,tcr •snh Hon nu cr~, _,nJ
<br />Lender's written agreement or ;applicable law. &+rn,u er ,hell pa) the :unuunt ,,I .dI mottea~e m,urancc• pn•nnum, in the
<br />manner provide) under paragraph '_ hereof.
<br />Any amounts Disbursed by Lender pursuant n, chi. paragraph 'r, wuh nuci cst ih.:ron. ,hall I•ccnrtn• adddi,mol
<br />htdebtedntss of Bon~uwer secure) by this DteJ of 'r'out t'nlt+, Honttwcr :cod 1 enter agree to other trnn+ al ~ at-mint. ,ueh
<br />~unounts shall hr payable up?n notice from Lender to Borrowrr reyutsnng payment the«ot, nod +hull Meat ~nrerest imm d+c
<br />date of disbursement :u the talc payable from time to tune tin outstanding pnocipul unJrr the ~nic Holes, payvtent ,d interest
<br />al such rate would be contrary to applicabl€ law, in which event ,wch amounly ,hall hear ntteresi .it the higM.t>t talc
<br />permissible under applicable law. Nothing cuntainrd in this paragraph ' +hall rryuirt LenJer to incur any expense ur take
<br />anv_ xchon htreundtr.
<br />g. tnsprrUou. Lender may make or cause to he made reasonable rntne+ upon :uui ~mpeciunn of :hc hrupcm. pmviJcd
<br />that Lander shall give Borrowrr iwlicr prior to anv +ueh itapecuon sprcifyin;; reaeounhle ruu+r ihen•lu: relined !o f ender,
<br />interest in the Prooeriv.
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