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8J-x(:4141
<br />U!:Iroa xt Cove:enrlrs. Borrower and lender covenant and agmc as follows
<br />i. Payttunt of Priocipat artd interest. Barrowcr shah promptly pay when due the prineipat of and interest on tine
<br />;ndehtedness evidenced by the Note, prepayment and late charges as provide) in the Note. and the ptina9pal of and interest
<br />wt an:~ Future AJcances srcurcd by this IJccd of "trust.
<br />2. Fnrtds fee Taxes sad Itswanm. Subject to applicable law or to a written waiver by Lender, Borrower shaft pay
<br />to Lender on the day monthly installments of principal and interest arc payable under the Notc, until the Note is paid in full.
<br />a coin (herein "Fonds"t equal to one-twelfth of the yearly taxes and assessments which may attain priority' over this
<br />Deed of Trent. and ground rents on the Property. if any, plus ant-twttfth of yearly premium 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 />trine to ume by Lender on the basis of :+ssessments and bills anJ reasonable estimates thereof.
<br />The Fund=_ shall be held in an insiitutinn the deposits or accounts of which are insured or guaranteed by a Federal ar
<br />state agency fineluding 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 hoidieg and apptying the Funds, analyzing said account
<br />ar venfying and compiling sail assessment; and bills, unless Lender pays Borrower intcresi on the Funds and applicable taw
<br />permits Lender to make sueh a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />DeeJ of Trrst that interest on the Funds shall he paid to Borrower, and unless such agreement is made or appiieabte law
<br />reyuirs such interest to be paid. Lender shat! not he required to pay Borrower any inerest or earnings on the Funds. Ltnder
<br />shaft give to Borrowtr, without charge, an annual accamting of the Funds showing credits and Debits to the Funds and the
<br />purpose for which each debit to the Funds was rttade. The Funds are pledged as additional security for the sums secured
<br />by this Deer! of Trust.
<br />!E the amount of the Funds held by lender. together with the (orate monthly installments of Funds payable poor m
<br />the Jac Dates of faits. assessments, insurance premiums and groan) rents, shalt exceed the amount required to pay said taxes.
<br />assessments, insurance premiums anJ ground rents ;fs thc)• fail due, Bach excess ,hall he. at Aorrower's option, either
<br />pramptiy repaid io Borrower or credited to Borrower nn monthly installments of Funds. If the amount of the Fundc
<br />held by Lender shag not be suBicicnt to pay fain, assessments. insurance premiums and ground rents as they fall due.
<br />Harrower shall pay to lender any amount necessary to make up the deficiency within 30 days from the date notice rs mailed
<br />by I_mder to Borrower requcstiag payment thereof.
<br />t; pop payment in full of all sums secured by this Ih.cd of "Port. Lender shall pramptiy refund to 6orrawer any t-unds
<br />held by Ltnder. If under paragraph 18 hcreot the Property Ic s,Wd or the Property is otherwise acyuired by Lender, Lender
<br />shall apply, no later than immediately prior m the sate of the Property or its acquisition by Lcndtr. any Funds herd by
<br />!_ender ai the time of application as a credit against the sums secured by this Decd uf-Trust.
<br />3. AppBradtan of L?sytmnts. Unless applicable law provides oche;wise, all payments received by Lender under the
<br />Note and paragraphs 1 and '_ hereof shall he applied by Lender first m payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note. then to the principal of the Note. and then to interest and
<br />principal on any Future Advances.
<br />~. ChariGts; I,kas. Barrowcr shall pay all races. asszssmenic anJ other charges. fines and impositions attrihu[able to
<br />the Property which may attain a priority over this Deed of Trust, and IcaseholJ 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 promptly furnish to Lender all nouces of amounts due under this paragraph, and in the
<br />event Borrc:=er shall make payment directly, Borrower shat: promptly furnrsh to Lender rtcerpts evidencing such payments.
<br />Borrower shstl promptly discharge any lien which has priority over this Oetd of Truce provide), that Borraurr shall not he
<br />required to disharge any such Lien so long ac Bo: rower shall agree in writing ai the pa}•ment of the obligation secured by
<br />such Len in a manner acceptable to Lender, or shall m goad faith <amest such Len hy, ar defend en(oretment of such Gen in.
<br />legal pra:eedings which operate ra prevent the en(oreement of the li ar (arfeif ore of the Proptay ar any part thereof.
<br />S. 13azatd Imurantt. Borrower shall keep the improvements now ensung ar hereafter erected an the Prnptny insured
<br />against Ions by 5re, hazards included within the term "extended coverage''. and such other hasvds as Lender ma)' requim
<br />and in wch amounts and for such periods as t_endtr may rcyuire: provided, that tinder shat! oat require Iha[ the amount of
<br />such coverage exceed that amount of coverage required to pay the slims xarred h}' this Deed of Trust.
<br />The ipso: anct carrier providing the insurance shalt tee chosen 'rev l;ornswer suhjea to apprs~ai by i.endtr: provided.
<br />that such app: ova? shag not i±c unaasonah!y withheld. Ail prtmiums on insurance ptdicies shall he paid in the manner
<br />provided t:adtr paragraph 2 herecf or, if oat paid in sueh manner, by Barrowcr making payment, whin drte, directly to the
<br />iasuronc_ a carrier.
<br />i^.sura.^.ee policies and rtn^_wals ti+.ereai shah t+c in form acccprabie ru [ender and ~haii include a standard mangaet
<br />clause in favor of and in [orm areeptable to I_endea. Lender shah have the nght :u holJ the politics and mnewais Ihtreof.
<br />and Borrower shalt promptly furnish to LenJer all re~awal notices and ;tII receipts nt paid premium. In the even[ of Toss.
<br />Borrower shall give prompt notice io the ntsurance ^arner anal Lender. LenJer may make pr<u>f of loss r(nut made promptly
<br />by Borrower.
<br />Unless Lender and Borrower utherxvise agree in writing, insurance proceeds ,hall he appbed to resroralion or repair of
<br />the Properly damaged. provided such resmration or repair Ic camum:calVy icasihle :rod the security of thrc Deed nl -trust n
<br />not thereby impaired. If such rcstorauun ur repair is not economically Iees161c ur :f the security of thi, I7ced of I7ucI would
<br />be impaired, the insurance proceeds shall be applirl m the sums secumd by this UceD of "trust, w-nh the txca,..r any, pail
<br />io Borrowtr. if the Property is abandoneJ by Borrower, or i( Born:wer folk to :npand to Lender u-ithm l0 days from iht
<br />date notice is mailed by Lender to Barrowcr that the insurance carrier ulTcrs ht xettlc a claim for mvlraruc benefits. LenJer
<br />is authorized fo collect and apply the insurance proceeds a[ Ltndei s option either W revor.uran or togas of the Pwpeny
<br />or to the sums secured by this Geed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such applicauun u( proceeds m principal ,halt not extend
<br />or postpone the due dart of the monthly installments re(erreD to m paragraphs I and ? hereof ar change the amount of
<br />such ir-stalhnents. !f under paragraph 1 K hereof the Property is acyuired 6c Lcnilet, all petit, title ;mJ interne of Bormuer
<br />in and to any insurance policies and in :rod m the proceeds theratl resulr~ng Imm damage ui the Prnpeny poor to the sak
<br />or acquisition shall pass m Lender to the extent of the sums secw~eJ h} ties Deep o{ l7ust mtmtJrately pour a+ ,uch s;Jc ur
<br />acquisition.
<br />6. PreservafFon and Mainltuanct of Property; Ltazehulds; (bndominirtms; i'lamted Unit Ixvelopments. Borrower
<br />sh:dl keep the Pn,pen} m guoil rcp:ur .rod ,hall nuI a rtonw ss a, n• ar penurt inq+au nn•ni ar dcicrinralinn nl the Pnq,crty
<br />and shall comply with 8tc provisions of ony !cue if thisrDeeJ of Must rs on a leasehold. IC this Dced of "Trust i, un a emir in a
<br />condominium or a glassed unit Development, Barrowcr shall petlonn ail or Burrowers ohligmions under the do iarauon
<br />or covenants creating or guverring the condominium ar plmmed unit develapmem. the hp-laws and regulnoons of the
<br />condominium ar planned unit Jcvdopment, and mnstimtm dacumenrc. If a eonJnminium ur pimmcd and ekvdapmenr
<br />rider is e:ecined by Barrowcr and reca:'JeJ together with this DeeJ ul Trust, the ,'uvcaan!s soil agrccn+ent, u! ,uch rn'~r
<br />shall he incorporated into and shall amend and suPPhment the cuven;uds and agreernenis uY this Decd nl ~i taxi :~-. rl the rider
<br />were n part hereof.
<br />7. Protection of I,endec's Security. tf Borrower fails to per[arm the covenants oral agreements conLUnc•J in this
<br />DeeJ of "i-rust or if area' aziimt ar procceJing is n,mmenmJ whmh m:oennlh• aliccis 1 tinder's interest in Ilse Property.
<br />including, but not limited to, eminent Domain, inwlvene}, rode culorcemenr, ur ;u raneenttnt, a procceJing, urvuls mg .r
<br />hankni pt or decedent. then l.cnder at Lender's npripn, upon notice to torrower, pray make such aPpcarances, +inhunc such
<br />sums and take such .iclion :u is necessary to protect Lenders inierst, including, hul nut OouteJ U+, dnbu ncnicut o1
<br />reasonatsie attosrtty's {ties and emry alien the Propi:rl}• nr ntakt repairs. IY Lender rcyuiral nxxlgage ut,m;uise .i a
<br />condition of making the loan secureD h)' thu Ueed a( lout, BoR OSaer shall pas the picnvunn resiui:cd to n arnt:un ,uch
<br />insurance in effect until such time as the reyuiremem (or +uch insurance ienninatt, in accordance with Bonuwer', .end
<br />Lender's written agreement or applicable law. Bnrrosver shnil pa} Iht amount .d all mortgage msurancc prenuum, u. Iha
<br />manner provided under paragraph 2 hcreot.
<br />Any amounts disburse) by Lender pursuan~ to this paragraph 7. wish ina•rcsr there,,n. shall become aJJm,mal
<br />indebtedness of Borrower secured by this DeeJ of 'trust Unins Borrower aaD Lender agree to other tenus ui pe}niem, ,uch
<br />~maunts shall Me payable upon notice from LenJer to Ban'owcr requesting payment therttot, a:iJ shall hear inttreet from the
<br />date of disbursement at the rate payable from rime ra time on outstanding pnnnpal under the ~'nre unless payment nt ialcrest
<br />at such rote wool) he contrary k) applies blc law, in which event such :nuounn ,h;Ji hear ~n[crnr :v the lughe,i :arc
<br />rrmirsihtt under applicable law. Nothing coniaincd in this p:uagi'aph 7 chail rcywrc 1_enJer a+ incur anti expense or take
<br />any action hereunder
<br />it. inspzethtn. Lender stay make or - t ~~ to 'e mode n:ason~ trt t p -: n I . { t - -. J:c Pr:*pcrtro• - I ~J
<br />that isndcr ,hail grvs Bo+rtrwer u, ...a I,rictt .n .d.y such ins :.C:or str ~i:ine ... a....n:.F.l_ u.u-c .h~rUor rotate) io I c rdcr~s
<br />interest in the Procerty.
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