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~~~.UG5266 _ . ,,',
<br />Urttroart Cot:etvenrs. Borrower and Lender catvenant and agree as follows:
<br />I. Paymeof of Principal and [nteresl. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provtdeJ ,n the Note, and the principal of and imerest
<br />on anyy Future Advances secured by this Deed of Trust.
<br />2. Ftra~ for Ttua and insuraace. Subject to applicable law or to a written waiver by Lender, Borrower shalt pay
<br />to Lender nn the day wanthly installments of princ+pal :mJ interest arc payable under the Note, anti! the Nate is paid in full.
<br />a stem (herein "Funds') equal to one-twelRh of the yearly fazes and assessments which may attain priority over this
<br />Deed of Trust, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard msurance,
<br />plus-oraatwelfth.Of.yeady premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to tittae by'Lender on the basis of assessments and bills and reasonable csnmates thereof.
<br />The Funds sha~tbe held in an institution the deposits ar accounts of which arc insured or guaranteed by a Federal or
<br />state agency (including 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 balding and applying FFie Funds, anafyzingsaid-account
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower tntcrest on the Funds and applicable law
<br />permits t_endec to make such ~a charge. Borrower and 1_cnder may agree in writing at the time of execution of this
<br />Decd of Tnrst that interest on the Funds shall he pnid to Borrower, and unless such agreement is made orapplieable law
<br />requires such interest to be paid, Lender shall not bs required to pay Borrower any imerest or earnings on the Funds. Lrrder
<br />shall give to 8orrowsG without charge, an annual awounting of the Funds showing credits and debris to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funcls arc pledged as additional security for the sums secured
<br />by this Decd of Trust.
<br />If the amount of the Funds held by Lender, tagcther with the future manthl}• installments of Funds payable prior to
<br />the due dales of taxes. assessments, insurance premiums and groan) rents, shall exceed the ;amount reyuired to pay easel taxes.
<br />assessments, insurance premiums and gnxmd ants as they tall due, such excess shall hc, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amaunt of the Funds
<br />held by Lender shall not arc sufficient to pap taxes, asussments, iosurance premiums anti ground rents as they fall due.
<br />Borrower shall pay to Ltndtr any amount necessary ro make up the deficiency within 30 da}'s from the date notice is mailed
<br />by Lender to Borrower requesting pa}~trent thereof.
<br />Upon payment in full of all snms scared by th+s Deed of Trust. Lender shall promptly refund to Barrower any Funds
<br />held by Lender If under paragraph IR hereof the Prupeny rs sold nr the Property rs othcnvrse acyuired by Lrnder, Lender
<br />shall apply. no later than immediately prior to the sale of the Pmperiy ar its acquisition by Lender any Funds held h}•
<br />Lender at the time of application as a eredat against the sums secured bt• this Deed of Trust.
<br />3. A~lieatloa of Paytoeots. Unless applicable law provide.-c otherwise, all pa}ments mceived by Lender u Eder the
<br />Note and paragraphs I and 2 hereof shall be applied h} Lrndcr first m payment of amounts payabic to i_ender by Burrower
<br />utKkr paragraph _ hereof, then to interest payabic on the Note, then to the principal u( !hc N~tc, and then to interest and
<br />principal on any Future Advances.
<br />{. CYaRes; Lieoa. Barrower shag pay a!1 nixes, assessments and other charges. fines and rmpositians attributable to
<br />the Property which may attain a priority over this Deed of Trust, and leasehold paymcnu or ground rents, if any, in the
<br />maorttz provided under paragraph 2 hereof or, if riot paid in such manner, by Borrower making payment, when due, directly
<br />to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the
<br />teat Botrowtt shall make paymenf directly, Barrower shall promptly fetrnish to Lender receipts evidencing such payments.
<br />Borrower shat) promptly discharge any Tien which has priority over this Deed of Trust: provided. that Borrower shall not be
<br />required to discharge soy such lien sa long as Borrower shall agree in writing to the payment of the obligatron secured by
<br />such lien in a tnantret acceptable to Lender, or shall in goad Earth contest suth lien hy, or defend enforcement of such lien in.
<br />legal pproceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />S. Nmrd f~rrnoee. Borrower shall keep the impros•ements now existing or hereafter erected on the Property insured
<br />against loss by tire. hoards included within the term "extended coverage'". and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may require: provided, that Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage regwred to pay the sums secured by th7s Dsed of Trust
<br />The insurance carrier providing the insurance stroll be chosen by Borrower subject to approx-al by Lender, provided.
<br />tot ouch approval shall rat be unreasotubly withfisld. Atl premiums on insurance policies shall be paid in the meaner
<br />ptovided tinder paragraph 2 hereof or, if rot paid in stub manner, by Borrower making payment, when due. directly to tht
<br />ittaurance artier.
<br />AR insurance paicies and renewals ihereoi shall bs in form acceptable to Lender and shall include a ~tendard; mortgage
<br />claatse in favor of and in form arseptatrle to Lender. Lender shall have the right to hot) the polisias artd renewals thereof.
<br />and Borrowu shag promptly furnish to Lsndsr all renewal notices and all recerpts cif part premiums. In the event of lass.
<br />Borrower shall jive prompt notice to the insuranre carrerrnd Lender- Lender may make prow( of lass +f not made promptly
<br />by 8ortowrror.
<br />Unless Lender and Borrower rnhcrwase agree in writing, insurance proceeds shall be applied to restoration ar repa+r elf
<br />the Property damaged. provided sauh restoration or repair is ecanom+caliy ieasihle .u7d the security ref thrs [had of Trust is
<br />teat thereby impaired. If such testoratioa or repast is not econurttically f~asrhle or it the security of this [heel of Trust would
<br />bC ittrpairax+, the insuntrt pra.etds shalt be ap,^.!7eJ to the sums secured by this Lh_rd of Trust, wuh the excess. if any. paid
<br />to Bavrowei. If the Frvpe[ty is abandatacd fiy &,rruwer, cu if Barrower tails Fo respond to (.ender within ?~ days from [hc
<br />date natict is mailed by Lender [o Borroxer that the msurance earner adcrs to scale a cia!m for msurancY benefits. tender
<br />is aatihori.sed to collect and apply the inwrancs proceeds at Lender's option either to restoration or repair of the Properly
<br />or to tare wins sKetrcd fiy this Deed of Trust.
<br />Unbar Lxttder and Barrower otherwise agree an wrrting, nny such apphcatxoex of proceeds to principal shall oat extend
<br />ur pastpont the date date of the rrranthly instatlment> referred to m paragraphs 1 anJ :hereof ur change the amount of
<br />such trestaBments. If under paragraph tat txrcnt the Proputy a acquired by Lender, all nghi, title and interest of Barrower
<br />in and to any insurotttt policies and m ar7d to the prexeeds ihetrof resultine from damage to the Property prior let the sale
<br />ar acquisition shall pass to Loader to the extent of the suaas secured h} ti:,s 13ccd of Trrst rmmcdiately poor to such salt ar
<br />aagisisition.
<br />lS. Pnserva6oa fad IMsiNenaots d Ptuperq; (xaselwaWs; Coradoaaidams; Plawared l~nii ixveiopments. Borrower
<br />shall keep the Ptaperty m ga7d repan arri she!! n,a cexateu:t was ,u Isrr,x,t +n717,+nncnt „r drtcrinratrun ul the Property
<br />and shalt fxsmply with the provisions of any tease if this [keel of trust rc ors a leasehold. !f th,s DesJ of Trust is on a unit rn a
<br />eorsdominium or a planned unit dsveiugment, Bar€awrr shall pt6crm .,il of Borrower s at,l+gations under the declaration
<br />ar rovtrupts creating or governing the condommiuna ur ptanned cxnit akvs!oprucnt. the h}-taws and reeulatiuns of the
<br />condomitfitrm or pian:retf snit devclopmeni, and constit uem drrcumems if a candaminium or planned amt development
<br />rider is esuutW by $otriwver arni recorded together with this Dssd of trust, the cosrnauts and agreements of such odes
<br />shalt be iatearparaied into artd shall amend seed suppleit:trt the cexenants and agreemeat~ ui th,s Decd c t Trust as if the rider
<br />wart n pat't leraof.
<br />7. lsesteKoa ~ [,eader's 3ecariry. 1f Borrower foals in pcriarm the coxtnants anJ agreements .oniamcd in thn
<br />Otec4 of Trttat, of if an}' action tit pruccedang ,s commence) which matcn:ail} atfe~ts Lender's mterist in thr Property,
<br />itrelttding, fiat trot limited to, emitaent domain, i:au*tvenc}, eocic sn;ercemeat, or arranca°msm, ;,r prccrt~ai,ngs rnvol:+ng a
<br />frranktupt ar decedent,:3hen Loader at Lender's uptiat7, upitrt notice to ttc+rrowcr, may m:tkc sa~eh appturunccs. dr,!.urx• such
<br />snms and take such action as is nscz.ssa; j to pprrtr,:. Lera'R~;'s imrrest. .nclud:ng. lieu ne: limited [n. cL.tfutscnxent c,i
<br />teaaofaafilc attorney's fees and [Wiry upon the Property to m.rke repair It I.sF-1cr rrym,ed morgage insurance :r, .r
<br />carrdit.an of ttrakin$ tfie loan secured by flits t)sed of Trust, Bart.twer ,h:+!I pa}' the prcnuunts rryuu cd t„ ma,nram ,etch
<br />tnrtuance in effect wail such time as Iht rs<quire[nent (or such +nsurance ternunatcs in accnrdancc wuh Borrow rr's and
<br />I..tttsler's written agreement tar applicable taw Barrow rr sh.dk pa} t}u: amount of al! mnrtgsgc ,n,rrr.r rise {+trn7+mns ,n the
<br />manner provided utuier porng[~ph 2 hereaf.
<br />qty amounts duhursed by t_endcr pursuant i,x this paragraph 7. w-rah +ntcrest thrrranr. ,haft ivrnnu .+dJ:;:ou.rl
<br />ifxlebta>dness t±f Butrowtt stcureJ b}• this Cad of Trust t'r+ies, Bavrnwsr anJ I ender at ice to other teris,s vt p:xSntrnt +,r-h
<br />amounts shall he payafitt upon notice fro+n Lender to Rorrawei cal+raung paymcm there,(. avJ shall bear n7wtes+ r^•r*, ;in~
<br />elate of Aabttrxrnrnt at the rate payable from Time ti+ imie on .,acct;mdtng principal nndcr tfic \'e±+c rioters paprticm , ! ,rite rrvt
<br />at Auh raft wou1J t+. cctttirary to app}irablc law. in whrrh corm .,+.h zimnunt, .h:+:l t>•<-.rr ,n+rrc,+ at rho ft,e;hr,t ;err
<br />pttroisaibb urukr applicahlr law. Notri7ng centainsd in this paragraph 7 shah tcyuut C rncltr to incur any expt7,sr :•r tale
<br />any aetian hereunder.
<br />F ~dira, L.tnder cosy maks ar ~ to tx~ made rtes r ai t• c-,ur - . p.m .,rid n,l>ti:~t. ns ~f rhr i'r+•p,-~+t, pr,~, ,,iael
<br />ilia! ttfN~r droll grvt $Orfawet raGiiEC prlar [n an} such in,}xatie Ixwt-'rat, rte s, mdhG :'m,i th-rclnr *rl.+ir=i ',~ I -n,ler ,
<br />interpt t0 [lit PfoperlY.
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