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<br />Umivaat fovv*txtvrs. Borrower acrd i.ender covsnam ctrl agrce as fallows-
<br />1. hr7tneM of Pr;eNpY [rid lehrul. Borrmver shall prompty pay when dtre the principal of and interest on the
<br />irdebtedness tv!dtnced by the Note. prepayment and lam charges ax provided in the Note, and the principal of and interest
<br />on any Future Advances secured try th!s [kt[I of Trust.
<br />1 Frria far True rttr6 fawrrt•€e. Sitbjat to applicable law or w a written waiver by Leader, Bonowcr shall Lay
<br />to [.ender an the day monthly irtstaAmenfs of principal and interest arc payable under the Nae. until [he Note is paid in full.
<br />a strm {her€in "Funds^) alas! to one-tweiNh of the yearly taxes and assessments which may attain priority over this
<br />Eked aC Trust, and grourd rents on the Properly, if any, plus orre-twelfth of yearly premium installments for hazard insurance.
<br />pteis one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasooably estimat~J imtiaNy and from
<br />time to time by Linder on the basis of assessments and bills and reasambk estimates thcrtoE.
<br />Tito Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />slam agency {includ'mg Larder if Lender is such an institution). Lender shall apply the Funds to pay said razes, assessments,
<br />imurance premiums ctrl ground rents. [xrder may na charge for so holding and applying the Funds, analyzing said account
<br />or verifying and compiling said assessrtmrrts and bills, anless Lender pays Borrower interest on the Funds and applicable law
<br />permits I ender fo make such a charge. Borrower and Ixnder may agree in writing at the time of execution of this
<br />Eked o/ Trust that interest on the Funds shat; ce paid to Borrower, and unless such agreement is made ar applicable law
<br />r€quires such rnttrest to be paid. Lender shall not Ix required to pay Bortower any interest or earnings on the Funds. Larder
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and dehr[s to the Funds and the
<br />purpose for which each debit to the Funds was made. The Fantle are pledged as additional security for the sums secured
<br />by the Dced of Trust.
<br />If the, amoum of the Funds held by Lender, together with the future monthly irrstall:nenes of Furls payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents as they tall due, such excess shall he, a[ Llorrawer's option, either
<br />promptly repaid to Borrower or credited to Borrower nn monthly installments of Funds. If the amount of the Funds
<br />field by Lender shall trot 6e sufficient to pay taxes, assessments. insurance premiums and ground rents as the}• fall due.
<br />Borrower shall pay to Linder any amoum necessary to make up the defrciency within 30 days from the date notice is mailed
<br />by Lender to Bortower requesting payment tfurrwf.
<br />Upon payment in full of all sums secured by [his [lead of Trust. Lender shall promptly refund to Borrower any Fumis
<br />hail by Lender. If under paragraph Ig hereof the Propery is sold ar the Property rs otherwise acquired by Lender. Lender
<br />shall apply, no lattr than Immediately prior to the sale of the Property or its acauisuion by Lender, any Funds held by
<br />Lender at the rune of application as a credit against the cams secured by this Deed of Trust.
<br />3. Appticatlon rN Payraep[s. Unless applicable law provides otherwise, aII payments received by Lender under the
<br />Note and paragraphs t and 2 hereof shall bt applied by Lender first in paymcm 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 Nate, and then to interest and
<br />principal on any Future Advances.
<br />4. CbarRCS; LieAS. Borrower shall pay all taxes. asxssments and other charges. fines and impositions attributable to
<br />the Property which rosy attain a priority over this Deed of Trust. and leasehold payments or ground rents, if any, in the
<br />mariner provided under paragraph 2 hereof oq if not paid in such manner, by Borrower making paymrnt, when due, directly
<br />to the payee thereof. Borrower sfiaB promptly furnish to Lender all notices of amounts due under this paragrapfi, and in tfre
<br />event Borrower shall make payment directly, Borrower shall promptly famish to Lender receipts evidenong such payments.
<br />Barrawer shall prompNy discharge any lien which has priority over Chu Deed of Trust: provided, that Borrower shall not he
<br />repaired to discharge any such lien so long as Borrower shall agrce in writing to the payment n( the obhgatian secured by
<br />such lien in a manner acceptable to 1_ender, or shafi m good faith centtst such hen 6y, nr JetenJ enforcem€nt of such ben m,
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any pan thereof.
<br />5. Haaard loereraree, Borrower shall keep [he improvements now existing or hereafter erected on the Properly insured
<br />against loss by fire, hazards included witfiin'the term "extended coverage", and wch other hazards as !.ender may require
<br />and in such amounts and for such periods as Lender may require: provideai. that LenJer shall not regwre that the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured by Chu Deed at Trost.
<br />Toe insurance Carrier providing the insurance shall (x chosen by Borrower subject m approval by Lender. provided.
<br />[Lea[ such approve! shall not Fit wueasonably withheld. All premiums on insurance policies' >hall he paid in the manner
<br />provided titsdar paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />tmurance carrier.
<br />Ail insurance policies and renewals thereat shall be is form acceptable to Lender and shall indudC a standard mortgage
<br />C!anaC in favoe of and in form ac:.zptable to Lender. LenJer shall have the right to hold the policies and renewals thereat.
<br />=ml A.orrawer shall promptly famish to Lender ail renewal oat ices and all rrroetpts of part premiums. in the event of Inc,
<br />Barrawer shall give prompt noiiat is ilia insurance earner anJ i,en,ler. i ender may make proof of Inss it net made promptly
<br />by Ban~ower.
<br />L'rdess had€r arx.' Borrower otherwise agrce in wtiung, insurance pwceeds .hail tin applied Io revtora[ion or repau of
<br />the Property da=naged, provided such resoralion cr repair a nunom+cally tensible .,rid the security of ;his UeeJ of ~fnut ,~
<br />not thereby impaired. If such restoration or repair is nut eeononrically ftas,blt or it the securny of this Deed of t nit would
<br />be impaired, the it~urance proceeds shall be applied to the rums secured by this Decd of Trust, witlr the excess, if any. part
<br />to Borrower. If the Property is abandoneJ by Borrower, or if Borrower fails to respond to Lender within 30 days from the
<br />date notice is mailed by Linder to Borrower that the insurance carrier otitis to settle a dame for insurance benefits. lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option euher to restoration or repa,r of the Properly
<br />or to the sutra secured by this iked of Trust.
<br />Unless Larder and Borrower otherwise agree m writing, any such applrcaton of proceeds ur princpal shall not extend
<br />ar postpone the due date of the monthly installments referred m in paragraphs I and ?hereof or change the amoum of
<br />such installments. If under paragraph 18 hereof the Properly o acywred by Lender, all right, title and mtere>t n( Borrower
<br />in and to any insurance policies and m and ro the proceeds thereof rt>ulung from damage to [he Property poor w the Sala
<br />or acquisition shat! pass to Lender to the extent of the soma secured by this Deed of Trutt tmmediatd9 prior to wch sale ur
<br />acquisition.
<br />6. Preseraat:on sod ?~I~.t•®aace of Property; I<asehoWs; Cordominiums; Planned Unit Ikveiopments. Borrower
<br />she!! krtp the ; rcperty m ga>J repair ,oJ shall not Coconut waste or pcrnm unpainncm nr Jdcnor aluer of the Pn>t~m
<br />and shall comply with the provisrons of any lease if this Iked ut fro>[ i, on a lea>ehold. If this Used nl Trust n un a amt in ,
<br />condominium or a planned unit development, Borrower shell perform all of Horrower's oMigauons under the Aeclarauun
<br />or Covenants creating or guvenung the Corulomimum or planned unit decdopmtnt, the by-laws .nrd regulanons of the
<br />condominium or planned unit development, and consutuent dacunteut>. If a condominium nr planned r.nit JesrL,pmrnt
<br />rider is txeeuieJ by iorrower anJ recorded together wrth thin Eked of trust, the covtnanu anJ agrrcorenu .~( such ndrr
<br />stall be incorporated into and shaft amend and suppkmetn the covenants and agreements of Chu DeeJ nl Trus1 a> if the rider
<br />were a part hereof.
<br />7. Prottcllpa of Leader's Sectrrity. If Borrower fads to perform [he covenants anJ agreements eontameJ u. this
<br />Deed of 'frost, or if any action or proceeding rs commenced which mamnally affects I ender's intaxe>t ur the Pn,per,}.
<br />sxindrng, but i:ai iimiied to, en:inem domain, insalvcnCy, cede entoictment, or arrangements nr pru..reJmgs .naoiv wg .i
<br />harkrupt ar dectdeni, then I.trider a[ L,erder's opi+oq upon nohee to Borrower, may make such appearanacs, J,vhurse such
<br />stuns and take such action as is necessary to protect Lenders rotates[, mduJrng, liar not limited u., di>hununem ~~i
<br />reasonable attorney's tees and tnVy upon the Property to make repairs. If Lender reywreJ mortgage mwrance a
<br />candiiion of making the loan secured by this tktxl of Trust, Borrower sha0 pay the premiums required u, maunam .u.h
<br />iostuattce in effect tm'il such tune as the regmrement for >tu:h insurance tenninalcs :n accorJance wuh Borrowers enJ
<br />l..tnder's written agretnron[ ar applicable law. Borrower >hall pay ilia anwunl ul all mortgage insurance pmnuums in the
<br />manner provided under paragraph ?hereof.
<br />Any amounts disbursed by Lender pursuam to this paragraph ?. web mtere>t ;hereon shall htc,mn• adJ^n~e.,~
<br />-- ` ~euness or ratrrowtr secured by This oeeJ n( Trust. 1 inkaa Borrower and !.coder agree to other terms of pa} mtnl..uat~
<br />amounts shalt fx: payable upon notice from Linder to Borrower reyuesung payment themoL and >hall Lrai interest Iwm the
<br />date of disburserrmnt at [ire rata payable from tints to ume nn outstanJing principal under the Note uultss payment of rntertst
<br />at such rate would hoe contrary 7a applicable law, in which event such amouns shall bear :nteresl ar the highest rate
<br />LtermissiMe uadtr appllcable law- . Nothing ContaineJ rn Chu peragral>tr '. shall require LcuJtr to incur any rxptnse or take
<br />any action tu:rtunder.
<br />6, ltssprcailaa, LCrdtr may make or aaost 1U he made reas.rnabh rntncs upon „rid rmpeaum> of Elie Propertv. pn.. rdcJ
<br />that 1 ruJa; -fiat! give trorrowe: no[ict prior w any such inspecuon .pecefYing reawnable ~ar,>.: themtoi relate) u, 1 rnJer
<br />,nts-rest rn ilia Pro€srty.
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