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51-- 0(~.124~
<br />U[+rtoast Cov>:rt,trrrs. Borrower and Lender covenant and agree as follows:
<br />I. Pttyattrtt of Prltsdpd trod Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Deed oC Trust.
<br />Z. FsatM for Txaeo ttnd Iretstwace. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the-day monthly installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a sum (herein "Funds"] equal to one-twc'fth of the yearly taxes and assessments which may attain priority over this
<br />Deed of Trust, and ground rents on the Property, if any, pins one-twelfth of yearly premium installments for hazard insurance,
<br />plus Otte-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to time byy Linder on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shat! be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency (ietctuding Lender if Le:..~'cr is such an institution]. Lender shall-apply the Funds to pa said taxes, assessments,
<br />irrsurantt premiums and ground rents. Leader may trot charge €or so holding and applying the Funds, analyzing said account
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Deed of Trust that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accaunting of the Funds showing credits and debris to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sutras secured
<br />by this Deed of Trust.
<br />If the amount of the Funds held by Lender. together with the future monthly installments of Funds payable prior to
<br />she due dates of taxes, assessments, insurance premiums and ground rents, shalt exceed the amount required to pay said taxes.
<br />assessu merits, insurance premiums and ground rents as they fall due, such excess shall be, a[ Borrower's option, either
<br />promptly repaid to Borrower oc credited to Barrower an monthly installments of Funds. If the 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 shalt pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Leader to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under pazagraph 18 hereof the Property is sold or the Property a otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of [he Progeny or its acquisition by Lender. any Funds held by
<br />Lender at the time of applrcatian as a credit against the sums secured by this Deed of Trost.
<br />3. Application of Payments. Unless apphcabie taw provides otherwise, all payments received by Lender under [he
<br />Note and paragraphs I and Z hereof shall be appplied by Lender first 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 />principal OR any Future Advances.
<br />4. Charges; Liem. Barrower shall pay all taxes. assessments and other charges. fines and impositions attributable to
<br />the Property which may attain a priority over this Deed of Trust, and leasehold payments ar ground rents, if any, iR the
<br />manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly
<br />to the paytt thereof. Borrower shall promptly furnish to Lender all nouces of amounts due under this paragraph, and in the
<br />event Borrower shall make payment directly. Borrower shalt promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shelf promptly discharge any lien which has priority over th!s Deed of Trust; provided. that Borrower shall not be
<br />rtquired to discharge soy such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a manlier acceptable to Lender, or shall in good faith contest such lien by. or defend enforcement of such lien in.
<br />legal pproceedings w:.;ch aperaie to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5. lthsaed llmurasce. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />agaittstloss by fire, hazardsinciaded 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 no[ require that the amount ~f
<br />such coverage exceed that amount of coverage required *.o pay the sums secured ray this Deed of Trust.
<br />The insurance carrier providing the insurance shall be chosen by Borzower subject to appravaE 6y Lender, prov+ded.
<br />that sleek approval shalt trot be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
<br />provided trader paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />itssaraacc carrier.
<br />All i[tsurarxt poiicics and renewals thereof shaft be iu Corm acceptable tc Lender and shall include a standard mortgage
<br />deuce in favor of and in form acceptable to Lender Lender shalt navo the r fight w hold the policies and renewals thereof,
<br />sad Borrower sball promptly furnish to tender alt renewal notices and ati receipts of paid premmms. In the rven[ of loss.
<br />Btxrawer shat! give prompt notice to the insurance carrier and Lender. Lender may make praof of loss +C not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower atherwise agree in writing, insurance proceeds shat! t~E applied t~ restoration or repair of
<br />the Property damaged. provided such restoration or repair is economicalh teasibie and the security of this Deed of Trust is
<br />not thereby impaired. tf such restoration or repair is not ecunomica!ly fearibk or +f the s:curity of this Deed of Trust would
<br />be impaired, the insurance proceeds shaft fx applied to the sums secured by this Lhed of "(rust, with the excess. iC any, paid
<br />to Borrower. if the Property is abandoneJ by Barrower, ur it Borrower fails to respond to Lender within 30 days from the
<br />date notitt is mailed by Lender to Borrower that the insurance earner odors to settle a claim for insurance benefits, Lender
<br />is authorized La ealleet and 2pply the insurance proceeds al Lender's option either to restoration or repair of [he Property
<br />or to the sums stxured by this Dced of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such appticatwn of proceeds to principa[ shall not extend
<br />or postptwe the due date of the monthly iiistaflRtenu reftxreJ to m paragraphs I and 2 hereof or change the amount of
<br />such installtrtents. If under paragraph t S hereof ihr Property +s acquired by Lrndzr, aB right, title and interest of Barrower
<br />in artd to any insurance policies and in and to the proceeds thereof resufung from damage to the Property prior to the safe
<br />or acQuisition shall pass to Leer to ihr extent of the sums securrJ by th+s DeeJ of Trust immediately prier to such sale or
<br />acgttisirioa.
<br />tN Ptroservatioe trod Malatenaace oI Properly; Leaselaohls; C:ondomloeamss; I?laaaed Unit Devebpmenta. Borrawrr
<br />shall keep the Properly in goad repair an[! shall not comm+t waste .=r perm=[ impan merit i t Jcterioraunn of ihr Property
<br />and shalt wmply with the provisions of any lease if this Deed of Trust is on a IeaxholJ. If this Dced of Trust is on a unit m a
<br />condominium or a planned unit devebpmem, Borrower shall pedarm all of Borrower's obligations under the declaration
<br />of covenants creating or governing the sanduminium ar planned unit drvelopntent, the ray-laws and regulations of the
<br />coodaatiaiam of gleaned unit developmcru, and canstrtta=rat docutrients- If a condominium or planned umt development
<br />rider is executed 6y Borrower and recorded together with this Dted of Trust, the covenants and agreementseof such rider
<br />shaft be incorporated into and shall amend and supplement ihr covenants and agreements of this Decd of Trust as if the rider
<br />wire a part hcreef.
<br />?. PtroNrtloa of Lender's Secnrfty, If Borrower fails to perform the tt+venants anJ agrrernents contait[ed in this
<br />feed of Tnsst, w if any action ar procrcding is commenced which materially affects Lender's imerest in the Property.
<br />iachsding, but trot limited to, eminent dotrrain, irtsolvertcy, code enforcement, or arrangements or pra:rrdings involving a
<br />bas~rupt or decedent, then Lenckr at Lender's option, upon notice to Borrower, may make such appearancch, dishurse such
<br />stints and take such action as 3 necessary to protect Lender's inieresl, ioc{uding, but nut limr[rd ta, disbursrmrnt of
<br />rgwaable aEtorney's fees slid catty upon t n Property to make repairs. ]f Lender requited mortgage insurance as a
<br />ottMtditian of making the loan secured by ibis Deed of Trust, Sarrawrr shall pay the premiums required to maintain such
<br />iaattrrtace in effect until wch time as tl[e rcquirerncnt for sw:h inwrance terminates m accordance with Borrower's anJ
<br />teadtr'a written agreement or applicable taw. Borrawrr shall pay the anwunt of ail nwrtgage insurance premiums in the
<br />rrsataaea ttrovidsd under raph 2 Iroreof_
<br />A~alttout:tt dinb~v~txd by 1,xndar ptitsuan[ to this paragraph 7, with interest thereon. snail f,e4ome additional
<br />inckfet of Bexrower secured by this Dcrd of Trust. Unless Borrower and Lender agree to other terms of pay+nent, such
<br />amounts shall l+e payable upon twice from Lender to Borrower requesting payment tttercof, and shalt hear inlerrst from the
<br />data tit disbursemaat at the rate payable frwn tune ro tune an ottLStanding pr+nc+pat under ihr Nute .inlets payment of interest
<br />tit seek xatc w be contrary to appltca6k taw. in whisk event such atununts shaft hear imsrrst at the highest rate
<br />pIbLe waiter applicable law. Noihittg cantaiti,zcl in This paragraph ': shah rryuire Lender tit iiacur any expense or take
<br />salt action hitanttrtdcr.
<br />;{, f~aetioa. l.snder may ittadte ar cause to be made reatnrtabir entries xipavn anJ inspec:uans of the property, provided
<br />#hat l.endsx shelf gno Rorroww note prior to any such itsp~uan specity'ing rrasvnabte :ausr thrrefar rclatelt to Lender's
<br />inatxMt in t$~t Ptas'ta¢ty.
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