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<br />Uent~text Covetvntvrs. Bortower and Lender covenant and agree as follows•~ ~ ~ ° ~i ~ ~.~
<br />E, d 1Maaipl aaA !alersat. Borrower shah promptly pay when due the principal of and interest on the
<br />iexfebtaMess evidenced by the Note, prepsytnent artd late charges as provided in [he Note, and thz principal of and interest
<br />an an Future Advances sect.tred by this Deed of Trust.
<br />T 1lfris tar'Piue ua Itawragee. Subject to applicable law or to a written waivee by Lender, Borrower shall pay
<br />to t.atder on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in fulh
<br />At !!=trein "F:.:.ds") t;-~tsa! to o~-twelfth of the yP~rly ta.=.~ and assessments which may anain priority over this
<br />Dad of Trust, artd grouted rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />p;r~ otaz-t~rr`th of y~:,y pr~itttn itti`railnit:rtt% for mortgage insurance, if any, ail as reasonably estimated initiatty and €rom
<br />liens to time by [.apitr on the basis of assessnsetits and bills and reasonable estimates thereof.
<br />The Ftttt.•k shalt be held in an institution the deposits or accounts of which are insured or guarantetd by a Federal or
<br />state agt:rtcy findttdmg Lender if {.enderrs such an insfitution-~ Lender shat! apply the Funds to pay said taxes, assessments,
<br />irtsttcance ptrsttittms and grotmd tints. Lender may not charge for so holding and applying the Funds, analyzing said account
<br />or verifying and crrmpiling said assesstrsents and hilts, onless Lender pays Borrower interest on the Funds and applicable law
<br />ppeerrmmits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Dced of Trttst that interest on the Funds shall be paid to Burrower, and unless such agreement is made or applicable taw
<br />regtares sorb intereat to tx paid, [_ender shall not be required to pay Borrower any interest or camin~s on [he Funds. Lender
<br />shag give to Borrower, witltrwt charge, an annual accounting of the Funds showrog credits and dehns to the Funds and the
<br />pgtpae for which each debit to the Funds was made. The Funds are pledged ac additional security for the autos secured
<br />by this [lied of Trust.
<br />if the amount of the Frtreds held by Lender. together with the fu¢ure monthly installments of Funds payable prior to
<br />the due dolts of taxes, assessments, insurance premiums and ground rents, shalt exceed the amount required to pay said taxes,
<br />as~ssmerets, ittwrance premiums and ground rents as they tat! due, such excess shall he, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthty installments of Funds. If [he amount of the Funds
<br />held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due.
<br />Borrower shall pay io Gender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of alt sums secured by thrs Deed of Trust Lender shall promptly refund to Burrower any Funds
<br />held bf tender. If under paragraph IR hereof the Propene +s sold or the Property +s otherwise acquired by tender. Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />tender az the time of application as a credit against the sums secured by this Deed of Trust.
<br />3. Apptietdiae d Payseets. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by !.ender Srst in 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 />pririct'pai on arty Future Advances.
<br />fC. tYas, Borrower shall pay all taxes, assessments and other charges. fines and +mpositions attributable to
<br />the Property which may attain a priority over this Deed of 't'rust, and leasehold paymtnn or ground rents, if any, in the
<br />mamer provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment. when due, directly
<br />to the payee thereof. Borrower shall promptly furnish to !.ender alt ponces of amounts due under this paragraph, and in the
<br />event Borrower shalt snake payment directly, Borrower shalt promptly furnish m Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Deed of Trust: provrded, that Borrower shall not be
<br />required to descharge any such Ilea so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien m a manner acceptable to Lender, or shalt m good tarih contest u[ch Iron. by, nr eiefend enforcement of such lien in.
<br />legal PProceedings which operate to prevent the enforcement of the hen or forfeiture of the Property or any part thereof.
<br />S. lllasmd i~ttraoee. Borrower shall k¢ep the improvements now cxrsnng or hereafter erected on the Property insured
<br />against loss by fire, haaards irtdttded within the term "'extended coverage", and such other hazards as lender may require
<br />amt in such amounts atd for such psnods as Lender may reyuue; pronded, that Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage regtnred to pay the sum. secured by thrs Deed of Trust.
<br />The insuratxe earritr providing the insurance shall be chosen 6y Horrower suhlect to approval by Lender, provided.
<br />ttsu ateit app ai nffiB not bt unreasonably withheld. Aii premiums on insurance policies shall tx paid in the mantxr
<br />provided uaderovpatagnph 2 hereof or. if not paid in such manner, by Bon~ower making payment, when due, directly to the
<br />inxeragct carrier.
<br />Alt igsuratiss policies and rerrcwals thereof shall oc r~ form acceptable to Fender and sha8 include a standard mortgage
<br />clsux in favor of and in form acctptable to Lender. {.ender shall have the rtght to hold the policies and renewals thereof.
<br />and Borrov;,et shah prtHteptly famish to {.ender all renewal notices and ail receipts of patd premiums. !n the event of loss.
<br />Horrower shall give prompt notice to the insurance carrier and !.ender. Lender may make proof of loss tf not made promptly
<br />by Horrower.
<br />Unless Lemke acid Borrower otherwise agree in writing, insurance proceeds shall tx applied to restoration or repair of
<br />ttx Property dam_agxt, provided such rsszoratien or repatr rs rcaaomrcaHy €casiblc and the security of ibis Ihed of Tnrst is
<br />trot tberetxy impaired. If such nestoratirxt or report is not economically feasible or d the security of this Ihed of Trust would
<br />be impaired, the irtsttrance proceeds shalt be applied tt: the sums stcurtd by this Deed of l7ust, with the excess, if any, pate!
<br />to Borrower. If the Property is attarrdonsd by Borrower, er if Borrower fails to respond to Lender within 30 days from the
<br />Clete iwtice is matted by tender to Borrower that the insurance carrier elfers to settle a clarm for insurance benefits, (.ender
<br />is sutttorized to r:oilect and apply the insurance proceeds at Lendei s option either to restoration or repair of the Property
<br />or to the sums secured by this Deed of Trust.
<br />Untesx Ixrtder amt Borrower aherwise ogres rn writing, any wch application of proceeds to principal shah not extend
<br />or pastporte the due date of the tttonthiy installments reterrrd to in paragraphs 1 and ? hereof or change the amount of
<br />such instaBtrtertts. If ttmier paragraph IS heresrt the Property n acyuired by Lender, alt right, tint and interest of Borrower
<br />in and to nay insurance policies and rn amt to the proceeds thereof resulting from damage ro the Property prior to the salt
<br />or acytdsition she!! pass to Lender to the extent of [ht soots secureei 6y this Deed of Tn[st immediately prior to such sale or
<br />acquisitioe.
<br />G Truervtaliaa aid Alaisleatrse of Property; Lease/sgGis: Coxdotaiaiums; Flagged Ugit Developtgeals. Borrower
<br />shalt kelp tlw Proptny :n gxxrJ :epatr and ,ha!! +wt ,:omm.t uncle ,•r permit rmpaimtcnt or dttcrioranon of the Property
<br />and abail crompiy wdh the proviatum of any Isase tf thrs !&td of Trust :s on a leasehold. (t this Dted of Trust is on a unit in a
<br />condominium or a planned amt dtvrbpnxnt, Borrower shat! pedornt a!1 of Borrower's obligations under the declaration
<br />or eovenaots creating or governing the ~ondomimum or planned amt development, the by-laws and regulations of the
<br />condominium or piaatted unit devtiopment, amt cotvsnttrent documents. if a condominium or planned unit dtveloptnent
<br />rickr is executer{ by Borrower amt recorded together wuh th+s [ltd et I rust, the covenams and agreements of such rider
<br />shat! be irieaporated into acrd stall amt:xt and supplerrxnt the covenams and agreements of thrs [}eed of Trust as if the rider
<br />were a put tureof-
<br />9. 1Psateegga gf f,ealer's Stxgrity. If Berrowsr lolls to prrfenn the covenants amf agreements contained in this
<br />Deed of Tries, or if any action or proeeedtng a comtmnctd whtcit nwtenatl} attests f.rnder's interest in the Property,
<br />itscltrdiag, Our not limited to, tmircent domain, tmolvsncy, ;ode enforcemxnt, or arrangemenu yr procer_Ylings involving a
<br />hanltsup4 err decedtn4 then f.tnder at t.erider's option, upon notice to Eorrower, may make such appearances, disburse wch
<br />wins and take such action as is rsatasary eo protect Ixitders +nttrest, rtictudtng, bin net limned to, disbursement of
<br />reasonaabk attorsiey s [ces and rntry upon the Property to males rtpatrs If LentH:r tr,;uirtd mortgage inwrarcr a a
<br />conditimt of making the loan secured by this [ksd of Trust, Borrower shalt pay the premiums reyuirrd to maintain x[ch
<br />ittsuragct in effect tm'il such time as the requirement for such inwratnr ttrrninatrs m accordance wrth Horrowcr's and
<br />Lender's wntxg agreement ctr applicable law, Borrower shalt pa} the amount et alt mungagt mwrance premiums +n the
<br />manger provided under paragraph 2 her~f,
<br />An aenwtnta dis>ntrssd Ay Lender pursuant to tats paragraph ', with ;ntrrest ;hereon, .hall become addnienal
<br />t <rf Borrower soured by this Deed of Trust. !;niece Borrower and t cttdtr ogres to ether terms of payment, such
<br />amatrtnts shat! rte payable r:ptrn rtt>tits from bender to Horrower rtgittstrng payrttent thereof, .+nd shall hear interest lrrnn the
<br />data of dsabutseeaent at the rate payable from tints to time on outstanding pnncipai umitr the Notc. unless payment of interest
<br />a; wc#t rate would bs contrary to apphcalrle law, in whrclt event stxh amounts shall brat rnterrst ut the highest rate
<br />permisaihk ugkt appiieab{e law. Nothing tontatnsd in this paragraph 7 shat! require I.rndcr to incur any expense nr take
<br />nay aeta~t lveret~rdrsr.
<br />>k +~• Lender ngty matte er coast to be made rrawrtabie entnts upon and inslxttinns et the Property. previdcd
<br />that icr-da[ stroll Kivt Horrower ttutics prror to arty wch rtispectien specrfymg reasonable .aunt therefor related tc Lender-s
<br />:aterat to the hreratrav.
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