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80-- (1~'t'i~(3~(9"~"7~
<br />UNIFORM COVENANTS. Borrawer and LCndeC cOVCnant and agreC :rS IOIIOWS:
<br />1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and imrrest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and intes`.<st
<br />on anv Future Advances secured by this Decd of Trust.
<br />2. Fonds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />tc Lender an the day' monthly installments of principal and interest are payable under the Note, until the 'j'ute i=, paid in full.
<br />a sum (herein "Funds") equal [o one-twelfth of the yearly taxes and assessments which may attain pno:ity aver this
<br />Deed of Trust, and ground rents nn the Property, if any, plus one-twelfth of yearly prcmwm installments for hazard insurance.
<br />plus one-twelfth of yearly 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 and reasonable esfimates Thereof.
<br />The Funds shall be held in an institution the deposits or accrnmts of which arc insured or guaranteed by a Federal ar
<br />state agency (including Lender if Lender is such an insiiumm~). Lender shall apply the Funds to pay said taxes, assessments.
<br />insurance premiums and ground rents. Lender ma•> not charge fur so balding and applying the Funds, analyzing said account
<br />or verifying and compiling said assessments and hills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the tame of execution of this
<br />Deed of Trust that interest an the Funds shall he paid to Borrower, and unless such aGreement s made or applicable law
<br />requires stch interest to Ix paid. Lender shall not he required to pay Borrower any interest 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 anal the
<br />purpose foe which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />by this Deed of Trust.
<br />If the amount of the Funds held h}• tender, together with the future monthly installments of Funds payable prior to
<br />the due dates of rases. assessments, insurance premiums and ground rents, ;hall exceed the amount required to pay said taxes,
<br />assessments. insurance premiums and ground rents as they fall due, such excess shall hc, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Harrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall not he sufficient to pay taxes. assessments, insurance premiums and ground rents as they fall due.
<br />Borrower shall pay to Lender any amount neccssan• to make up the defioency 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 Harrower any Funds
<br />held by Lcoder. If under paragraph lS hereof the Propery is sold or the Property is nthenvise acquired by Lender, Lender
<br />shall apply. no later than immediately privr to the sale of :he Property or its acquisiuan by Lender, any Funds held by
<br />Lender at the time of application as a credit against the ,ums secured by this Deed of Trust.
<br />3. Application of Payments. Unless applicable law pmvules nthenvise, all payments received by i +~nder under the
<br />Vote and paragraphs t and 2 hereof shall be applied by Lender first m payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest pa}'cble on the Note, then to the prinnpal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Chatt[es; Lietts. Borrower shag pay ail taxes. assessment. and other charges, fines and impositions anributablc to
<br />the Property which may attain a priority over this Deed of Trost, and leasehold payments ar ground rents, if any, in the
<br />manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making paymerr. when due, directl}•
<br />to the payee thereof. Borrawer shall prvmpt!p furnish to !.ender .dl notices of amvunts doe under this paragraph, and in the
<br />event Borrower shall make payment directly, Borrower shat! promptly furnish m Lender receipts evidercmg such payments.
<br />Borrower shall promptly discharge any lien which has p::ority over this Decd of Trust; provided. that Borrower ,hat! not be
<br />required to discharge any such Iien so tong as Borrower shall tierce in writing [o [lte payment of the obligation secured ht
<br />such Iien in a manner acceptable to Lender, or shall in gaud facto contest such tier. hy. or defend en foremen[ of such lien m.
<br />legal proceedings which operate to prevent the <-ntarcement of the lien ar farfeflure of the Property or any part therot.
<br />5. Hanrd lusttrun. Burrower shall keep the improvcmems now eaisung or hereafter erected ,gin the Property insured
<br />;tgainst loss by fire, hazards included within the term "extended cow:rage", and ,uch other hazards as !::rider may requuc
<br />and in such amoums and for such periods as Lender map require; prav,ded, that Lender ,hall oat requrrc that the antaunt of
<br />such coveraee exceed that amount of coverage required to pay the sums secured b}' this Decd of Trust-
<br />The insurance carrier prrniding the insurance ,hail be chosen by Borrower aibtect to appros al by Lender. pnmded.
<br />that such approval shall not be unreasonably w'ithhdd. .A!I premiums on insurance policies shall he yard m the manner
<br />provided tinder paragraph 2 hereof or, if not paid in such manner, h}' Borrower' making payment, when due, directly to the
<br />insurance txrrier.
<br />All insurance policies and renewals thereof shat! he rn [orm acceptable :0 1_ender and shnii include a standard mortgage
<br />ciattse in favor of and in faint act=eptable to Lender. Lender shall have the right to bald the policies and renewals thereof.
<br />attd Borrower shall pramptiy furnish to i_ender ail renewal notices and sit receants of Hari premiums. In the went of loss.
<br />Borrower shall give prompt nonce to the insurance carrier :mil Lender. Lender may ma~I.e prvat of loss ~~. ~•;,t made promptly
<br />bv_ Borrower.
<br />Unless Lender and Borrower nthenvise agree in noting, msurancr proceeds ,hail be app!,ed to restoration or repau of
<br />the Property damaged provided such restoration or repau is economically feavhle _ind lira sea:riry ,+ the Geed ,,: Trust r,
<br />not Thereby impairrd_ if such restoration or repair is not economicaR} (e-ss:bie or ~t the ,zcunip of the, Dted o: Trust wotdd
<br />be impaired, the insurance proceeds shall oe applied to the sums secured 6} :his Decd .~i Crus:. wuh the eacess, ii any, paid
<br />to Borro~~cr. Lf ±Lte Property is abardoaed Ity Bvrrvwer, or if Borrower ! ,,, resp~~t,.i s' I ender wuhi:; =;) date tram the
<br />date rmiice is rt~iled by Leader rv Borrvwer that the rrsurarce calmer o;Tzrs to settle ;: ~iain± for :n,uran,c benefit.. t_end.r
<br />is authorized to rnLLect and apply the insurance pnxeeds at Lrrder's upuan etihcr to ressor.,tian or reps:r of the Property
<br />or to the sums secured by this Deed of Trust.
<br />Unless Lander and Borrower nthenvise agree m venting, any >uch .,pphcauon rat prorecds to pone+pai .hail not extend
<br />or postpo~ the due date of the monthly installments inferred to to paragrapphit [ and hereal or change the amount of
<br />such imtailments. if under paragraph I H hereaf the Propert}~ is acquired b} (.ender, .,il right, title and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resu!ung tram damage to the Prapcrn prior to the sale
<br />or acquisition shall pass to Ixnder to the extent of the sums .>ecured bq thu Decd at i'rust immedi:ue!p prior m ,uch sale ar
<br />acquisition.
<br />6. Presen•atio>9 cad Mai~tettantt of Properly; Leaseholds; Condominiums; Planned Unit Devrlopmems. Barrotver
<br />shall keep the Property in gaxd repair .:rid .hail not cotnnttt ,sa>tc .,r permit :rnpa:rinent .,r detci,:,ration ,,f t!tc Pn,pert}-
<br />and shall •"'~Ply wish the prvvisivns a!, cry Ica if this Deed of ~l-rust ., an a'.casehaid. If tf.ia Deed .,f Trust s rn a amt tr•. ;:
<br />condominium yr a pianrted unit development, Batrrow•er shall prslarm till vi 8orrowe: ~s abhgauons under the dcciaration
<br />or cevenams creating et gmrmiag ihL usndantinium or plamted unit desalaprtent. the h}-law; aura ~ _,utaiions :d the
<br />condominiwn yr planned unit deve!apmem, and constituem decmnent> If a condominium ar planned s.mt development
<br />rider is executed by Harrower and recorded together with this lleed of Trust, the euveaants and agreements of such rider
<br />shag be incorporated into and shall amend and supplemem the atvenant> and agreements of th;s D td of Trust :a ;f the rider
<br />were a part bereof.
<br />7. ProleeNoa of Leiitider's Security. If Bo*rower fails tc perform the calenants and age emems tontamcd in this
<br />Deed of Trust, or $ any action ar oraeeeding is u~mnterced which rnatenally affects t Winder's int,: n•,t in the• Property.
<br />'ncluding, but not limited to, eminent domain, insolvency, code enforcement, or arrangements ~+r praccedines involving .+
<br />bankrupt or decedent, then Linder at Leader's vption, upon notice to Borrower, Tony make such appearances. di>Iturse such
<br />sums and take such action as is necessary to protect !.enders interest, including, lint not !ironed to, tii>hurscrnent of
<br />reasonable attorney's fees and entry upon the Rroperty to make repair-s. It Lender rquired mortgage mxursnce as a
<br />condition of staking the loan secured by this Derd aC 'Trust, Borrower shalt pay the premiums required n+ ntaurtnin wch
<br />insurance in effect until such time as the requirement fur such incur:+nce teammates :n :,cordani:c with Borrower's and
<br />Lenders written agreement or appGcabie !sw. Borrawer shall pit} the arnauut of ail mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Aay amounts disbursed by Lender pursuant to this paragraph 7, with interest ,hereon. ,hall hecente addituxiai
<br />indebtedness of Borrower secured by this Dead of Trust. Unless Borrower and 1_endec agree to tither terms of payment, xich
<br />amounts shat! tae payable upon notice from Lender to Harrower requesting payment [hereaf, and shall bear interest Imm the
<br />date of disbntsemrnt at the rate payable from time tv time an outstanding principal under the ~1ote unless payment of ir.tcrrst
<br />at such rate would br contrary to applicable law, Sit which event ,uch amounts shall bear interest at the highest Tarr
<br />permissible under applicable law. Not`:ing cvntaincd in this paragraph ?shall require Lender to incur any expense or take
<br />any action hereunder.
<br />8, latpectio'. Lender rosy melee or cause to be made reasonable entries upon and inspection, of the Property, provided
<br />that Lender shall give Borrower notice poor to any such inspection s~°cifying rrasana6le :;ai.>_ve therefor reiaad as t ender',
<br />interest in tbe Prooertv.
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