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<br />LTM7~oant CovEde>vTS. 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 merest on the
<br />mdehredness evidenced by the Note, prepayment and faze charges as provided in the Note. ;md the principal of and interest
<br />nn anv Future Advances secured by this Deed o(Trust.
<br />2. Funds for Taxes and insurance. Subject to applicable law or to a ;vntten waiver by Lender. Borrower shall pay
<br />to Lender on the day monthly installments of principal and interest arc payable under the Notc. until the 'vote is paid in full.
<br />sum (herein "Funds"} equal to one-twelfth of the yearly [axes and assessments which may auxin priority over thin
<br />Deed of Trost. and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insur;mcc.
<br />p}us one-twelfth of yearly premium installments for morgage insurance, if any, all as reasonably estimated initially :md (trim
<br />time to time by Lender on the basis of asscssmenis and bills anJ reasonah}e estimates thereof.
<br />'the Funds shat! he held in an institution the deposits or accounts of which are insured or guaranteed ny a Federal err
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pax said taxes. assessments.
<br />insurance premiums sad ground rents. Lender may not charge for so holding and applying the Funds. analyzing said account
<br />or verifying and compiling sail assevments and bills, unless Lender pays Borrower interest an the Funds and applicable law
<br />permits Lender to make such a c!targe. Aorrower and Lender may agree m writing at the time of execution of this
<br />Decd of Trust that interest do the Funds shall he paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to he paid. Lender shall not be required to pay Borrower any into:cu or earnings on the Funds. Lender
<br />shall give to Borrower, without charge- an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit [o the Funds was made. The Funds are pledged as additional security for the sums secured
<br />by this Dced of Trust.
<br />If tltc amount of the Funds held by Lender. together with the Cuwrr munthit• installments of Funds payable prior to
<br />the due dates of cases. assessments, insurance premiums and ground rents, shall exceed the amount required m pay said taxes,
<br />assessments, insurance premiums and ground rents as they tall due, such excess shall hc. at Borrower's option, either
<br />promptly repaid to Harrower nr credited [o borrower on cionthly installments of Ponds. If the amount a( the Funds
<br />held by Lrnder shall not he sulBcien[ to pay taxes. assessments, insurance premiums- and ground rents as then fall due.
<br />Borrower shalt pay to c-ender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />C;pan payment in full oI all sums tieaued by this Deed of Trust. Lender shall promptly refund to Borrower any Funds
<br />held by i.ender. tf ender p;tragraph IS hereof the Property is sold or Ihi Property is utherwi.ee acyuired by fender, Lender
<br />shall apnl}. nn later than immediately prior to the sac of the Prooerry or its acyuisiuon by Lender. atn• Funds held by
<br />Lender at the time n( application as a credit against the sums secured ~by this Deed of 'c'rust.
<br />3. Application of Pavmrnts. Lnicss applicable law provides otherwise. all payments received by Lender under rite
<br />Note and paragraphs t and 2 hereof shall be applied by Lender first in payment of amounts paynbic to Lender by Borrower
<br />under paragraph Z hereof, then to interest payable on the Note. then to ihc principal of the ?vote. and then to interest and
<br />principal on anv Future Advances.
<br />4. Charges; I,ims. Borrower shall pay all rases. assessments and other charges, floes ;utd impositions auributabic w
<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 or, if not paid in such manner, by Borrower making p;ixment, when due, directly
<br />to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under thrs paragraph. and in the
<br />event Borrower shall make payment directly, Borrower shall promptly furnish to 1_ender receipts evidencing such payments.
<br />Borrower shall promptly discharge anv lien which has priority over qus Ueed of Trust: provided, that Borrower shall not (x
<br />requred to dixharge any sua.h lien so long as Borrower shall agree in writing at ihc paymem of the ohligauon secured by
<br />such lien in a manner acceptable to Linder, or shall in good faith cmucst such lien by, nr defend enk,rcement of such lien in.
<br />toga( proceedings which operate to proven[ the enforcement of the lien or forfeiture of chi Property or am' part thireuL
<br />;. Hazard insurance. Borrower shat[ keep the improvements flow cxisung or hereafter erected on chi Pmper[y insured
<br />against loss by fire. hazards included within the icrm "extended coverage", mul such other hazards as !.ender Dray reyutrc
<br />and in such amounts and ter such periods as Lender may require: provided, th:u Lender shall not reuwre .hat the amount of
<br />such coverage exceed that amount of coverage reyu+red to pay the sums secured by the Died of "i`nst.
<br />The insurance earner providing ihc insurance shall he chosen by Borrower subiuet u, approv::i u}• l_endcr. pm.^ded-
<br />that such approval shall not be unreasenahly withhetd. Atl premiums on irurance p<uicics shat! be paid in the manner
<br />provided under paragraph'- hereof ur, if oat paid in such manner, by Horrnwcr staking payment, when due: directly to the
<br />insurance carrier.
<br />Ail insurance policies and renewals thereof shall i,e m torn acceuet6le ur Lender and +ha( :netueic a ~t.uutard mortgage
<br />clause in favor pf and in form accrptahic to Lender- Linder shall have the right m hoW the policies acd renewals thereof.
<br />and Borrower .halt prompter furnish to Lcndcr aft renewal notics and :di r e:pts nC paid premiums. Ln the crest ..f i -
<br />Horrower shall give erompt notice: to the insurance carnur uttd Lender. Lcndcr may make proof of loss ;I not :nude prornp[ic
<br />by Borrower.
<br />Uriess Lcrdrt' and Horraw_•r atnorwrse; a ... - ru~ng_ ,rt-:ur~ru.. _' " ,_e~s • • ,!I 6c ; ppiiid t~ s!cr-altos = cut ; .
<br />the Property damaged, provided etch restorancut~ar rc p;ur rs veonum:calivj feasible+.:nd the sicunrc of th:c }lied ~ni~ :rose n
<br />not thiribv impatrrd. If such mstotatmn av repair a not ci anami~a+it it. stoic or C th sc~uriry -} ~ «d : t -- - -. ordd
<br />be impaired, the insurance proceeds shat! be uppued to ihc sums secured by Ihn Decd nl' Trust. wish the~asscss. ;term ~pnnl
<br />to Borrower. If the Property is abandoned by Aorrower, or it Harrower' fiat. :n .u.Itond u, I-cndm wrthm ;U da}s Irom the
<br />date notice is mailed by Lender to Borrower that the utsuranec atrner ot}crs to ,oleic .+ eluun :or :nsu r:uin• •icnefits. Lcnde~.
<br />is authorized to collect and apply the insurance prucicds at Lender's opuan other m :istoru inn ~rr repnit of :he Prerperq
<br />or to the sums secured by this Decd of Trust.
<br />li mess i_ender rind Borrower otherwise agree in writing, :un• such apphc;wan of proceeds to punapal sh;dl not extend
<br />or postpone the due date of [he month}y insudlments referred to in paragraphs I and '_ hcmot or ~h;mge ihc dmaum of
<br />such installments. If under partgraph Ili hereof the Property a acyuired b} Lcndcr. .tit rhrhL alto :aid nui:est of Rot mover
<br />in and to anv insurance policies and in and m the proceeds Ihura+f rexduog from dam;:.•,r u, the Pmpc•m pour rit the ,aie•
<br />or acyuisiuon shall pass to Louder to the extent of the sums segued 6y the Dead ,!C Prusi unnx•dtamis pt!ur io such .a}c ar
<br />acquisition.
<br />6. Preservation and dluiotenance of Property; Leaseholds; Condominiums; 1'Iauoed L'nit Urvciopnumts. Burrower
<br />shalt keep ihc Progeny !n good n. p:ur ,:rid shall not .u:mun wnsu° or penn:t nnp;u nuco~ r,: ,ictenon:tnm :r the i'mpertc
<br />and shall comply wnh the provstous tit :my lease if this Dced of -Gnat a an a leasehold, If chi, Deiu ..q Trust :> oa a unn m o
<br />condominnun or .t pl:unted unit Jevolopntent, 6orn:wcr shall l,e rJUnu all tit Hurruwet s ,+hl+ganons undo: the dicta ru::~^
<br />ur covenants crcaiing or govrnnng thc• .:uudomiuium :?r pl:umcd unit devclupment, dtc by ~I;ew. ,uu} rcgulanom •,i ihc
<br />condominium or planned unH developmanl, sod consuutem doeume•nls, it u condnminuuu of plmmed .ant dcvcleputcw
<br />rider is executed by Borrower ;mrf recorded together with thin 17rc'<i of ~{ rust- the cuvcnauts and .tgreemem, ..r such ride:
<br />shall hr weurporatcd into and shall amend and suppienrcn[ the toven;nN,+;utd agrentnen[, ,ti this Decd at ~}1'u+t :rs :f ihr i i,ier
<br />were a part hereof.
<br />7. Protection of Leader's Security, It &nn,wcr Inds to perinrm rho cormuuns and agrerutenta -: omm~ird tit !}u.
<br />Oced u! Trust, ur :! anv sus-n =*!` ptisceeding a c-_a,wi geed whtch nt uc_!all} ;rtTe. :y ! endEt ~ u:tcrsst -a h; =-'st,pz~rt_,_
<br />including, huP not Hmited m, eminent domain, :usolccuc}, cod¢ enioiccntcnt, or :u t:uiz"ninCm+ or pn:caedutgs nia..fcntc .:
<br />bankrupt or decedent, then Lender at Lender's option, upon nonce to Horrnwcr, arty make etch ;y,pea ranees.:i;.J±u r.c •.nch
<br />SnmC and tnkc ~tIC}I aellUit as :S i1rl.'CJSary It„t pl'ulil'l I_elillet'~ Inc C.l esl, nlelnating, h1i! Iles :Ironed t:r. di~(,ln,~e'nt•, nl ~~
<br />t'easonahie attontey's tees nncf entry ;qwr. the Pnr~rty n+ make repairs. If ten+icr =rquucd arnUgut;c mvitancc .;+
<br />condition of making the loan scour-d by the quad of -fntst, Aorru+vcr sh:dl pay the prcanums rcyuue~ n~ mnnu.un ,vah
<br />insunutcr in etTect until such time as the reyuaentent for ,ueh nnur;toce renunruies tit uaeardancr: w~ii: Ilorn+a. e: ~ .;
<br />L_nnder's written ugrrement or npplicah3r law Ilarruwcr shall pay the annxuu r+I ail •.nuugupr ntsw once pu•nnwns .:r :fir
<br />manner provided under paragraph ^_ hereof.
<br />Any amounts disbursed by trndcr pursuant m thin paragraph 7, with intcrrst thireou. .hail be: onx: adduan:,:l
<br />indehtetlnrss of Borrower secured by This Dud tit -IYnst- t'~nlrss Annv,wer and I code: agr~ to ntha te:nn w pea n:c:n, ~u:=:
<br />amounts shall hr payable upon notice- Iront Lender to Aorrower reyue,tiug pa}n:em 6u•:cof, :+u.l -.h,:li itr:u ~utcrc,t I i..n::hr
<br />dote of disburvemuut at dtC tutu payabiu from flute to tinro on ;nusiunding pt inr:pnl under ihc L,ur ,miss I+a!nncrn et nncrrsi
<br />at such rate wouhl hi contrary to uppbcabic law. tit which event such .unoonn ;halt Ir,,-,~: c,: :+t t!:r h:t:hest r:qr
<br />pennitsiblr under applicable hew. Nothing contained m the. pu ragrnph ? :hat! reyu:rc Lrndm w meu:.nq .:-y,rnx w take
<br />anv action hereunder
<br />B. drepect{on. }coder may nu+kc or cau;i to be made :ia:.ouahie cntrie~ upo•i n,. ,n.pa~r: a+u, n: she Progeny, pn:.:ale,(
<br />that (.ender shall gror Burrower noucu• print to any such imlxautn ,ryec:fY ing t .~+.:.m:i,la : u:,r ihctutu: :vi,ue.d :u i ~~udet-.
<br />~ntereat m the Pntneriv.
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