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~s~-- ;04304
<br />Liti 1FDR\i Cov sNn Nrs. Horrawer and tender covenant and agree as failows:
<br />i. Payrment of Principal and Interesa. Borrower shall promptly pay when Jt:c the principal of and interest an the
<br />mdeMedness evidenced by the Note, prepayment and i;ne charges as provided in the Note, and the-principal of and interest
<br />nn am' Future .4Jrances xcured by [his Deed of Treat.
<br />2. Funds for Tazes and Insurance. Subject to applicable law ar to a written waiver by Lender, Borrower shall pay
<br />to Lender nn the day' monthly installments of principal and interest arc payable under the Note, oniil the Notc is pail in fait.
<br />a sum (herein "Funds'') equal to one-twelfth of the }'early rases anJ assresments which may attain priority over this
<br />D+•ed o[ Trust. and ground rents on the Property, if any, plus one-iwelRh of yearly premium insmllments for hazard insurance.
<br />pins one-twelfth of }•sady premium installments for mortgage imurance, if any, ail as rcasana6ly estimated initially and [mm
<br />um: to time by Lender on the basis of assessments and bills and reasonable estimates thenroF.
<br />The Fundy shat: be held in an institution the deposits or accounts of which arc insured ar gw rameed by a Federal or
<br />state agency (including Lender if Isnder is such an institutiant. Lender shall apply the Funds to pay said taxes, assessments.
<br />insurance pmmiums anJ ground rent.. Lender may not charge for sn holding and applying the Funds, analyzing sail account
<br />or verifying and compiling said assessmenB and buts, unless Lender pays Borrower interest nn the Funds and apphcab!e law
<br />permits Lender to make such a charge. Bormwer and Linder may agree in wrung a[ the time of execution of this
<br />Dee) of Trust that interest on the FunJc shall he paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to fk paid. Lender shall not be rcgwrcd to pay Harrower env interest ar earnings an the Funds. 1-ender
<br />shall give to Horrow'er, w,thaut charge, nn annual accounting of the Funds showing credits and Debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds arc pledge) as additional security for ;he sums secured
<br />by this Dccd of Tntst.
<br />tf the amount of the Funds held by i.endcr. tagciher with the future monthly insi;dimcnts of Parade payable poor to
<br />the due Dates of taxes, assessmems, insurutcc premiums and gmund rents, ,halt exceed the ammmt «quired to pay said taxes.
<br />85~855n:C^.L. :n;::,'atYr pr¢mmm5 a.^.d gML•.^.d «nts as ;he}' fall due. su.h e.ccess shall hc. at &xrower's alk:ar., cater:
<br />promptly repaiJ m Borrower or credited to &trrosvcr an monthly instalimcnts of Funds. If [hc amount of the Funds
<br />held by Lender shall not t?c sufficient to pay (axes, assessments, insurance premiums and ground rents as they fait due.
<br />Borrower shat) pay m !_ender any amount necessary' to make up the deficiency within 30 days fmm the Jate notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon paymcid in full of all sums secured by this Dced of Trust, Lender shall promptly' refund to Borrower any' Funds
<br />held by Lender. If under paragraph 18 hereof the Property is sold ar the Property rs otherwise acyuired by bender. E,ender
<br />shall apply. no Iatcr than immediately prior to the sale of the. Property or its acquisition by Lender. any Fun): held hr'
<br />Lender at the time of application as a credit against the sutras secured by this:Deed of Trust.
<br />3. hpp63catioo of Payments. Unless applicable law provides otherwise; at[ payments recetveJ by (.ender under the
<br />tiote anJ pargraphs 1 and 2 herco( shall he applied by Lender first in paymcnt of amounts payable to Lcndcr by Borrower
<br />under paragraph 2 hereof, then w interest payable on the Note, then to the principal of the Nom, and then to interest and
<br />principal en any Future Advances.
<br />~. Charges: Lien. Borrower shall pay all taxes. assessments and other charges. fines and ,mpusitions aurihumhle 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 />matinee provided under paragraph 2 hereof ar, if not paid in such manner, by Borrower making paymcnt. when due, directly
<br />to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts dtte under this paragraph, and in the
<br />event Borrower shall make payment directly, Borrower shall promptly fi,rnish to Lender receipts evidrncing such payments.
<br />Borrower shalt promptly discharge any Tien which has priority over this Lked of That: pnw,ded, that Horruwer shall not hr
<br />required to discharge any such lien so long as Borrower shall agree in writing to the paymcnt of the obhg:nion secured by
<br />such lien in a manner acceptable to Lender, or shall in good [ai[h contest such ben by, or Defend enforcement of such lien in.
<br />Irgal proceedings which operate to prevenrthe enforcement of the hen or forleiwrc of d:e Property or any pan thereof.
<br />S =°=~rd iustsraaz. Barrawer shall keep the improvements now exatmg or hereafter erected x+n dtr Property insure)
<br />against loss by fire, hazards included within the term "encode) cavcrage", and such other hazy rtk as Lcndcr may requtre
<br />and in such amounts and for such periods as Lender may require; pn?r,JeJ, that Lander shall net require that the amount of
<br />su[h coverage exceed that amount of coveraGC requred to pay the scans secured by the Decd of )Yost.
<br />The insuronre carrier providing the insurance shall be chosen by Hornswer subject to nppnn'.J by t.endrr; pma,ded.
<br />that sorb approval shall not Fre unreasanabiy withheld. All premiums an insurance policies shall bc, paiJ in the manner
<br />provided uoeer paragraph 2 hereof or, if not paid in such ntanntr, by Harrower making payment. when due, directly' to the
<br />insurance carrier.
<br />rill insurance policies and renewals thereof shall be in loon acceptable ;n Leixler and shall inciu[L: a standard mortgage
<br />clause in (aver of and in form acceptable to Lender. Linder shall ha>•e.the right ip ,hold She-policic~ unit renewals thereat.
<br />and Borrower shall promptly €urnish W Lender :dl renewal ^uliccs unJ all teeeip(s of paiJ premiums. In the event of lass,
<br />Bormwer shall give prompt notice to the insurance carrier anJ Lcndcr. Lender may make prom of loss it not made promptly
<br />by Borrower.
<br />[lnless Lender and Borrower otherwise agree in +s riting, msw once proceeds shot) he applied to restoration ar repine of
<br />the Property damaged, provided such restoration or repair i, ceunorniudty Ir;aibic :util the security of this Ural al Trust u
<br />not thereby impaired. If such restoration or repair is not econamicully fcastbie or ,( the secnnty of this UceJ of )Yost would
<br />be impaireJ, the insurance proceeds shall be apphcd to the sum, securcJ by this Uccil of T7usi, with the escess, rf any, paid
<br />to Horrosvcr. 1f the Property is abandoned by Borrower. ar if Non ewer faih to respond to Lcndcr within 30 days from the
<br />date notice is mailed by Lender to Borrower that the msumnec earner alien to scvle a clam for mwrancc benefit,, i ender
<br />is authorized to collect and apply the insurmce proceeds at (_cnder's option caber m restartnon oc repair of the i'ropen}
<br />or to the sums secured by this Dced ui Trust.
<br />Unless f ender and Borrower otherwise agree in writing, ;tin such :rpp!icauon of prneceJs to pnncipnl shall not estend
<br />or postpone the due date of the monthly installments ref et rcJ to in paragrt phs 1 :uul "_" herco) or change the amoum of
<br />such insmilmenis. 3t under paragraph IS herco) the Propeny i+ acyuired to t cnJrr, ;di nght, title mtd interest of Bormwer
<br />in and to any insurance policies nail in anJ to the proceeds thereof rexf ug (rum d:unage to the Property prior to the sale
<br />or acquisition shalt pass to Lender to the extent rat the sums securcJ hr ::,,, Decd of Trent immediately prior a+ such sale ur
<br />acquisition.
<br />&. Preservat3on and Matotenunce of I'mprrty; Leasrhuld+: ('ondnwiuiumv; Planned unit Devclopmems. Horrawer
<br />+hail keep the Properly m good repair and shall not unnnm wu,~c or pa ni~! nup.w nu•m ur drleriormon of the Property
<br />and shall comply with the provistons et an}• lease tf this Ike) of l rust „ m? a ;. asuhulJ. 11 thi, DeeJ i.l ll'ust a nn o unit in a
<br />condominium or a planned unit development, Dorrower shall petiorm all of florrower's obligations under the declanumn
<br />ar covenants creating or governing the condominium or pianueil unit development, the by-laws and regulations of the
<br />condominium ar planned unit Jevelopmeob and consiituem d+k~unxnts. If a condominium or planned amt develapmcot
<br />rider is cxeruted try Doanwer and rccuraied legit her wuh rho UceJ rat lntsb the covenants ;nut agreements rat sve6 uairi
<br />shall be incarpuratc[i into nnJ shall amen) anJ Supt?Irntent the cuvrnanb m?d agieements of ihs Uccd oI )Yost as d the ndcr
<br />were a part herco[.
<br />7. Protection aF Lender's Security. If Harrower (ails to perform the covenants and agreements amtaurnJ m ihi,
<br />Decil of Trusb or it any action or pre?cecJmg is commenced +vhich ntatenally affects Lender's interest in rfm Preprny.
<br />including. teat not limited to. eminent Domain, insolvency, rude rnlorcemenb or arrangements or proceeding, nn.,lung ;,
<br />bmtkrupt or decedent, then 1-ender at Lender"s optiotL upon notice to Borrower, may make such appearance+, dubw,c such
<br />sums and take such action as is necessary to protect [.ender's intercsb including, teat nut limited to, .;~,,inu+en?cnt of
<br />reasonable ~vtorney's fees and entry upon the Properly H? make repairs. I( Lender «yuiteJ ntonguge nxurutec :, :?
<br />condiuan of making the lain secured by this Deeil of 'I'mst, Horrnwcr shall pay the premiums rcyuired h. m;u m;mi ,uch
<br />imurance in effect until such time as the requirement for such insurance terminates in accordance wilt Harmwrr's ;uul
<br />LenJer's written agreement or applica',!c buy. Borrower shall pay the amount of :JI mortgage uuuruue p«uuuni, m the
<br />manner provided tinder paragraph ~ hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, wish intere>t iherrrnt ,hall become aJ[h mrnui
<br />utdebtedness of Borrower secured by this Dced al' Trust. Unless Borrower anJ i ender agree la other Icrms of payn?em, wch
<br />amounts shall he payable span notice tram Lender to Harrower rcyucstinu payn+ent thereat, and shall hear n?tereci from the
<br />date ei disbursemem at the rate payable fnrtu time to time on outstanJing principal under the Noce antes, payment of in~crci
<br />at such rate would be nuHrary k? applicable law, in which event wch amounts ,hall hear u+tercv ;n the highr.i rate
<br />permissible attder appiicubie law. Notating camained in this paragraph '. shwa rc•qulre i,en+fcr to incur arty esps:nu or take
<br />env action hereunder.
<br />t3. Ittspeetion. !.ender may make o-cause to he made reasonable entries ulx?n anJ in.cpecuans of t}tr Pmpert v. pm+,Jed
<br />that Lender shalt give Horruwer note ~ prior to :my such inspection ,pecilping rea+,a?ahic cm,e therelm «lated io 1 ender ,
<br />imcrest in the Proeenv.
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