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<br />Uxtraant Covrtxexrs. Borrower end Lender covenant and agree as follows:
<br />I. Payment of Principal and interest. Borrower shall pmmptly pay when clue the principal of and interest tin the
<br />;ndehttdncss evidenced by the Note, prepayment and late charges as provided in the hots, and the principal of and imerest
<br />nn arc: Future AJcances secured by this DeeJ of Trust.
<br />2. Bends for 'taxes and Insurance. Subject to applicable law or to ;t written waiver by Lerdtr, Borrower shall pay
<br />tc? bender cn the day monthl}• installments of prinapai and interest are parable under the Note. until the Note s paid in full,
<br />a sum (herein "Funds") equal to one-fwal(th of the yearly taxes and asscssrrcuts whi fi rosy attain priority over this
<br />Deed of Tnrst, and ground rents on the Property, rf any, plus nnc-nvclfth nC yearly premium instalimcats for hazard insurance.
<br />ptus one-twelfth of yearly premium installments fur mortgage insurance, if any, till as reasonably estimated initially and from
<br />time to time by Lender on the basis oft assessments and bills •anJ reasonable estimates thereof.
<br />The Funds shall be held in an insiitution'thc deposits or accounts of wfiich ae insured or guaranteed by a Fede: of nr
<br />state agency tincluding fender if Lender is such an institution}. Lender shalt apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Louder may nut charge for su holding and applying the Funds, analyzing said account
<br />or verif}•ing and compiling said assessmcros and hills. unless (_ender pays Aorrnwer interest on the Funds and app(icable tau
<br />permits Lender to make such a charge. Borrower and i.ender may agrcc in writing at the time of execution of this
<br />DceJ of Tnrst that imerest on the Fund, ch:dl be paid to 13ormwer. and unless such agreement is made or applicable taw
<br />requires such intemsi :a be paid. Lender shall not t>c required to pay 13nrrnwcr any interest ur earnings tin the Funds Lerdcr
<br />shall give to Bnrruwer, without charge, an annual accounting of the Funds chnwing credits and debits to the Funds and the
<br />vurpose for which each debit to the Funds was made. The Fund; are pledged as additional security for the sums secured
<br />by this Dced of Trust. -
<br />If the amount of the Funds held by Lender. !ogether with the future monthly installments of Ftmds oa}•able prior to
<br />the due dates of rases, assessments, :nsurance premiums and ground rents, shall cscceci the amount required to pay said taxes,
<br />assessments, insurance premiums :md gmm~d rents as they fall due. such excess shall be, at Borrower's option, either
<br />promptty repaid to Borrower ur credited to Borrower on monthly installments of Funds. IC the amount of the Funds
<br />held by Lemler shall not be sufficient to pap taxes, assessments. insurance premiums and ground rents as they fall due.
<br />Borrower shall pay to Lender any amount necessary in make up the deficiency within 30 clays from the date notice is mailed
<br />by fender to Borrower requesUOg payment therrnf.
<br />Upon payment in full of all sums secured he this Dced of 'Crust. Lender shall promptly refund to Burrower any Funds
<br />held l?y fender. If under paragraph 18 Norco!' the Property is sold or the Property a otherwise acyuircd by Lender, !.ender
<br />shall apply, no later than immediately prior a? the salt a( the Property' or its acquisitlnn i?y Lender, any Funds held by
<br />tender at the time of application as a credit against the sums secured by this Died of "Crust. '
<br />3. Application of Ferments. Unicss applicable law prm•ides nthcrwise, ail paymtnls received by Lender tinder the
<br />Note and paragraphs I and 2 hereof shag he applied by Lender first m 1?aymant cif amounts payable to Lander hy' Borrower
<br />under paragraph 2 hereof, then to interest payable tin the Ndte, then 1o tlic principal of the Note, and Ihtn to interest and
<br />principal on any Future Advances. .
<br />4. Charges; Liens. Borrower shall pay alt taxes. assessments :md. of pher chatgcs. fines end imposiiinns attributable to
<br />the Property which may attain a priority over this Decd of Trust. and teasehole4 payments or ground rents, if any, in the
<br />manner provided under paragraph 2 hereof or, if not pail in such manner, by Borrower making payment, when due, directl}•
<br />to the payee thereof. Borrower shall promptty furnish to i_ender all notices of amounts due under this paragraph, and in the
<br />event Bo¢ower shall make payment directly, Borrower shall promptty furnish to Lender receipts evidencing such payments.
<br />Harrower shall promptly discharge any lien which has pnoriq• Deer this Dced of Trust: pnrvide[i, that Borrower shalt not he
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, or shalt in good fa«h contest ouch lien hy, or defend enforcement of such lien in.
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5. Sazard Insurance. Borrower shalt keep the improvements now existing nr hereafter erected on the Property insured
<br />against Vnss by fire, hazards included within the term "extended coverage", and such other hazards as Lender ;nay require
<br />and in such amounts and for such periods as Lender ma}• require; provr<Iect, that i..tnder shat) not require that the amount of
<br />such coverage exceed that amount of coverage required to pay the sums sneered by ;his Decd of 77use.
<br />'The insurance carrier providing the insurance shall be chosen by Be'+rrr u•cr suh;cc; to approv;d by i.cnder, provrdeJ.
<br />that such approval shall not 6e unreasonably withheld. .q1I premiums nn insurance pnlicttts shall !w paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower :Waking payment, when des, directlq to the
<br />it'3nranCC CarrieF.
<br />s,II insurance pnrlicics ..nd renewals tharem sizuli he i~ roan ";:ep.tbly r,: I.c t.1 .rnd •-hat n. ic#:^^. t,' -~ t-•rd rr?o rrgage
<br />clause m favor of and m lotto acceptable to Lender i_en3..r sn uh h~tsc thirv roght e hai+i the, pnhcics ,md rutr~wais thereof.
<br />°;.d Barr er =ha 1 prampr~y u ~uslt t ~ertder al( oettewar + +tP.es a[ u ~Jl :~c'tactad; : :um.. I=~• the , cot of lc?ss.
<br />Botrower~5ha11 gi re prompt retire [o the ruzsurencc currier and Lander. 'l .odor met make •pruot of los::f nut tousle nrnmptlti~
<br />by $arrower.
<br />Unless Lender and Borrower otherwise agree in wnhng, a»u;ance pmcceds .hail he ap(s Lad ro rcuorauon or repau of
<br />the Prepetty damaged, provided such restoration or repau rs aconomicully teasiblc .ind the >.cavur .,f thn Used nl Tntst n
<br />nor thereby impaired. If such restoration or rep:ur is not cconomicJ7Y h•avMr or rt the .ecunry of this Dced of i-rent would
<br />ht impaired, the insurance proceeds shall 6e applied ro the sums secured h}' this Uecd rrt trust. ~.+n:-: the e,cas. J an}, n:uJ
<br />m Borrower. If the Prnpcrt}' is abandoned by Borrower, or ii Bar rower tarp to rrspnied io Lcedtr +, ohm 30 days Irom the
<br />date roirce i; maileJ by Linder to $orroucr that the insurance earner of{ors to souls :; ,_iaim for rm~u~aucc henctirs. Lender
<br />is authoracd to aolicct and apply the msur;ntcc I+t occrds at Lrndcr'+ upuen cnhar ro resrnranon or repau .+t the Prnpcrt}
<br />or to the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agrcc m wining. ,mc such .apphcaui+n ,.l pmeeeds to pnnc:pal ,hail not extend
<br />nr postpone the Jue date of the month!} installments re[erred tom ,narm:,raphs i and hereor or ebani!e the amount of
<br />such installments. If under paragraph IS hereot the 'Property h acyuircd h} l,.aul4r, alt neht, nlle :rnd uxerest of Bnrntu tr
<br />hz and to :my insurance Ix?licies and Bt a+rJ to the proceeds thereof resulre',e Irotvt Jamage to the Proptrts Pnur to the sale
<br />or acquisition shalt pass to Lender to the extent ,+t the vents secoreJ M rfris DeeJ i?f !Yost rmmedtuttly poor io ,uch .;Je or
<br />acquisil'.ioa
<br />6. Presen atinn and Maintenance rat Property; Leaseholds; Condominiums; Planned knit 6trtlopntenw. liar m~.. cr
<br />~,hali ki:ap !hc Nrt+pertc ! +o.l npa:r .red ,h:Ji nut .onunu wauc ,,. t.cnnd mtn,rrrmcn! o~ Jurors*eruoa o. rht ! ens
<br />.rnd shall .rnnpiv with the ~provisionx of any least if this UecJ of Tnn.t is on .+ IcaachuiJ if the iiecd of Trust a o,r a amt in .+
<br />cundomimm~t or .+ planned unu deveiopntcnt. 13nrrnwer sh:dl Ix: r3onn all tit l3orrowcr~s nhLgau:~rn wnlet tbt decla: ar:,rr
<br />or enverants creating or go+trnmg the condominium or planned unit Jtaekipment, the M-law. :rnd regulations .•t the
<br />condominium or planncJ amt derelolzmem. and consptutm document.. IF a condominium or planned unu Jes eh q*tnent
<br />ndtr is executed by Bormwer ;md recorded torethcr w«h ihls DeeJ tit hrust, the covenants .urJ .?graemanu o tire!? radar
<br />shall he inccrr(riziattJ iota and shall ;unenJ and supplement the cos-+-sane crud ;+greernents rt ihs f)e-cd of f;ua :a +i tt+e r+drr
<br />were a par[ hereof.
<br />7. Protectian of Lender's Securitp. If 13orrsnver (ads to perinnn the covenants aaJ agrtemcm: :nntmr,ed m rho
<br />Dced of Trtcst, nr if ant action rr proceeding rs commenced which nta[en ally :d. sets Candor's interest m the Property.
<br />nt.°luding. h=at rot limited to, ennnent Jotnain, uuoh~enc}-, coda enfnrcernent, r~r arr,tngetuent, r,i pr<x:etdings a„rah e ..
<br />hankntpi or decedent. then Lender at Lender's option, upon notice rn Borrnwrr, map make +uch ;q+pta r.:nccs, ~i:,t:;n,cm~rch
<br />stems and take sai.h action as is ^eces.wt}• rtr protect Lender'. mron•~t, including, but nut IrmiteJ tr . ,h,hur+emurt ,a
<br />reasonable attorney's fees and entry anon the Pmpcrt4 to make repairs. I( Lender icyuueJ mortgage m,uran,c .. ..
<br />condition oY makrnW the loan ,ecureJ i,x this Decd of Tent, Borrower shall p:n~ thr pn•nvums n•murcJ n, ~:.~~msm ,~~n h
<br />insurance in affect until such time as the requirement for .uch insurance terminates rn accordan,e +vuh Bor n,w er-• ~nJ
<br />Lenderc wntttn agreement or apolirdtla law_ Borrower shall par rho amoum .d :JI mor[gaec insur:rxe iTMemnrm. ~n dx
<br />manner prrn~ided under paragraph ' hereof.
<br />Anv amounts disbursed try Itnxiar pursuant to this paragraph ., wuh m[crcnr nc~rer+a ,boil btnnu addn~,.r~.~l
<br />indebtedness of Borrower secured he this Decd n('Cr ust_ Unles Borrower ;md 1 ender scree to other terns .+t p.+? mein .uch
<br />amounts shall he payable upon notice fmm Lcndtr to Bornnver requesting paynrcnr d:dreo('. and ,hall hear intcresr ii •:+ the
<br />date of disbursement a[ the rate pa}:ablc from time rn timr nn outstanding principal under the mom uni¢ss paymcnr nl inren•51
<br />at such rats +aou1J be contran• to applicable law, in which went etch :mcun;s ,hall hear ~nteresr at the hrehest rate
<br />permissible under app!ic^,hle law. Nothing contained in this paragraph 7 ch-sii rcyuur C_ender to rrcur any expense or take
<br />any action hereunder.
<br />f;. 1. ~ptc:san. fender ;oat' make or cause to he made reasr,nahle ~ntnes open and :nspech. ns of the Pm^.trtr. pn sidcJ
<br />that Lender shalt give Borm•.wer notice pnc,r n+ ant ,uch inspection ~pecdy mg reaa~~natde .:n„e ihere:or icl:«eJ .n L<rrJrrA
<br />interest in the Prorenv.
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