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81®U0.1~45
<br />Uxtt~otett Covexsx•ts. Borrower and i.erider covenant and agree as follows:
<br />!, Psg~ent of Ptrinetpd rind leeteteaf. Borrower shall promptly pay when due the principal of and interest nn the
<br />itideMixlness evidenced by the Note, prepayment and late charges as provided in the Note, and the peincipal of and interest
<br />on an Future Advances secured by this Deed of Trust.
<br />3. ) for Ttsas rued Ittastrsnce. Subject to applicable taw or to a written waiver by Lemkr, Borrower shalt pay
<br />to Lender ors tree 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-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Deed of Trust, and grouted rents an the Prop-rty, if any, plus one-twelfth of yearly premium installments for hazard msurance,
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any. all as reasonably estimated initially and from
<br />time to tithe by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which arc insured or guaranteed by a Federal or
<br />state agency firicludmg Lender if [.ender 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 holding and applying the Funds, analyzing said account
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower mterest on the Funds and applicable law
<br />permits tender to make such a charge. Borrower and Lender may agree in writing at the tune of execuhnn of this
<br />Deed of Trust that interest on the Funds shall be paid to Borrower, and unless such agreement is rttade or applicable taw
<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 accounting of the Funds showing credits and debits to the Funds and the
<br />p•~rptrse for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />by this Deed of Trust.
<br />Jf the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shalt exceed the amount required to pay said taxes.
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall he, at Borrowers option, eitleer
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. tf the amount of the Funds
<br />held by Leteder shat! not be sufTcient to pay taxes, assessments, insurance premiums and ground rents as they fall due.
<br />Borrower shalt pay [o Leader any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Ccrtder to Borrower requesting paytaent thereof.
<br />Upon payment in full of all slims secured h}' this Decd of Trust. tender shall promptly refund to Borrower any Funds
<br />held by Lender. if under paragraph Ig hereof the Property is sold or the Property rs otherwise acquired by Lender, [.ender
<br />shall apply, no later than imtrtedrately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Larder a[ the tint of applicateon as a coedit against the sums secured by this Dred of Trust.
<br />3. ApPlicaBoe of Pnymaets. Unless applicable law pro-rides otherwise, alt payments received by Lender under the
<br />Note and paragraphs I and Z hereof shall be applied bq t-ender first m payment of amounts payable to Lender by Borrower
<br />under puagraph 2 hereof, thin to interest payable on the Note. then to the principal of the Note. and then to interest and
<br />principal on any Fu4urc Advances.
<br />4. Chragra; [Jes. Borrower shall pay all taxes. assessment, and other charges. fines and impositions attributable to
<br />the Property which may attain a priority over this Deed of Trust, and leasehold payments yr ground rents, if any, in the
<br />manner provided under paragraph 2 hereof ur, if not paid in such manner, by Borrower making payment, when due, directly
<br />to the payee [hereof. Borrower shall promptly furnish to l.endcr all rwhces of amounts due under this paragraph, and in the
<br />r:veat Borrower shall make payment dirxtly, Borrower shall promptly furnish to tender receipts evidencing such payments.
<br />Borrower shalt promptly dischat~e arty lien which has priority over this F3eed of Trust: provided. that Horrower shall not tx
<br />required to discharge any such lien so long as Harrower shall agrce in writing to the payment of the v°~bgation secured by
<br />such lien in a mantra acceptable to Lender, or shalt m good faith comes[ such lien hy. or defend enturcement of such lien in.
<br />legal pttxeedings which operate to prevent the enforcement of the (ten or forfeiture of the Prol?erty or an7 part thereof.
<br />S. lllaai~d iar~atn~e. Borrower shall keep ttrc +mprovtments now t+tsnng or hereafter erteted on the Property insured
<br />against loss by Ere, hazards irnit~ed within the term "extended .:overage". and +uch other hazards as Lender may require
<br />and in such amounts attd (or such periods as Lender may regwrc: pmnded, that Lender sha8 nut require that the amount rr!
<br />weh coverage exceed thnt amount of coverage required to pay the sums secured 6+ this Decd of Tnrst.
<br />"flee insurance carrier providing eke insurance shall be ehuseu by Borrower subject to approval by 1 ender. provide.,.
<br />t6a< arJrdt approval shall [taf Ire unrr_asonably withheld. All premiums on insurance policies shall Fx pard in the manteer
<br />provided tsader pnraQapb 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />imutaott carrier.
<br />Alt insurance policies and renewals thereo[ shall be m form acceptable to Lender and ,hall mdtrdc a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the polic?cs and renewals thereof.
<br />and Borrower shalt promptly furnish to L.endtr art renews! notices and a!1 receipts u( pain premmm.. In the event of foss.
<br />Harrower shaft give prompt twltce to the inwrance carrier and Lender. tender may make prime of lass if nrx made promptly
<br />by BOrtower.
<br />Unless Lender and Horrower otherwise agree in writing, insurance proceeds shat! be app#red ta. restoration ar repair of
<br />[fit Property damaged, provided such resmratiort or repair +s cconumically ttasible and the security of this teed of "trust i+
<br />not t(xrcby impairtd. if such resrorativn or repair :s oat tcunvmicatty feasible or ii t!x secrtr;sy of this freed nt trust would
<br />)fe impairai, the jtrurrartce proceeds shall 6e applied to the sums secured by this i)eed ,>f 17ust, w+th the +~xce+s. at any. pant
<br />to Borrower. If the Property is abandoned by Borrower, ur if Borrower faits to respond to Lender within 30 days from the
<br />date nutlet is :naii~d by Lender to Borrower mat the (nwrance career otters to seine a :lame far mxuarice henefrt+. I.en.ter
<br />is authariuY! to collect and apply the insurance praxreds at Leader's apti_vn either to resroratirnr ur repair of the Prupe:rt}
<br />or to the wins secured by this Deed of Truss.
<br />Unttss Lettur"'r and Bvrraxer otherwise agree in writing, soy such appbcattun of proceeds to principal .hall nut extend
<br />or pastptnae list due daft of the monthly mstaltmenis referred to m paragraphs ! and ?hereof or change the amount of
<br />stic6 installments. If udder paragraph IK hereof the Proper[} is acyurred t+} Lender, all right, title and utterest of fivnower
<br />in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prnu to the ;sic
<br />ar acquisition shall pass to Lenaler to the extent of the wins stcurrd by this Decal of trust rmmediatcl} poor to such sale or
<br />acgWSiiion.
<br />i. Praaernstitn and 1Nalntenanct o[ PraPe11J; Leaseholds; Cortdomiaiatns; Plawned Unit DerrelopnseNs. Borrower
<br />.hall keep the Property u? gazxi repair and shat( nut cornmet weste ++r pcrneu ~mpaumeni or deter iurat+on of the Proper[}
<br />and shall tornpty with the provisions of any lease if this [kid of frwt is on a leasehold. tt this Decd of Trust is tin a unit m a
<br />condominium ar a planned unit development, $orrower shall pedorn? sit of Borrower's ohhgations under the dectarnuun
<br />cu covenants creating or governing the condominium or planned unit development, the by-law's and regulation. of the
<br />caadtxnintum or planned unit devetaprrtcnt, and constittu.nt documents. if a candwninium ur planned unit developrtrent
<br />rider is eze--:.iced hY Borrower and recorded together with th+s Deed tit Trust, the covenants and agreemen;s of wch rider
<br />shall be tn;:orporated into attd shat! atnetu! and supplarsent tkt crncnants and agreements rH this Dead of "('rust as ~f the rider
<br />trcre a part lxraoi.
<br />1. PNheUni of i.etader'a Security. ff Borrower fads to perform the covenants and agreements contained in thi.
<br />t7eed of Tnist, or if any action or proceeding is a>nunenced which matcnalty sitters l_enderi interest in the Property,
<br />including, but cwt limited ta, eminent domain, insoWtnc}, cods enforcement, or arrangements ur prosecdings invohu:g .+
<br />bankrupt or decedem, then Lendet at Leruter's option, upon notice to Borrower, may make such appearances. dishrusr .uch
<br />sums and take such aclion as is necessary is protect L.ende: s interest, including but not limited tu, disburxment ++t
<br />reasonable attorneys fees and enirv upon the Pr;:~F!y to make repairs. If lender required rnorgage msurance as a
<br />condition of making the loan secured by this Dced of Trust, Borrower shall pay the premiums reyuind to maintain +uch
<br />itttturance in effect uMit such tirtu as the requirement for suth insurance ttrmmates in accordance with Borrowed and
<br />Lender's writttn agreement or apptecabte law. Borrower shall pay the amount of alt mortgage insurance prenuums ~r. the
<br />rrarnraer provided ulster paragraph 2 hereof.
<br />Anyy atnotiots disbursed by Lender pursuant to this paragraph 7, with mterest thereon, shall hecomt additional
<br />indebledr+as of Harrower secured by this Deed of 'Crust. Unless Harrower and i ender agree to other terms of payment, such
<br />arttautnts shall tit payable upon ttaticc from Lender to Berruwer requesting payrncnt ihtrcof, atu! shall hear interest tram the
<br />date of diabtisxemtnt at the rate paytibte frcutt dine to tittle an outstanding prmc,pat under the Nate finless payment of interest
<br />at enk rate wauW be tvittrary tip applicable law', in which event such amounts shall tx:ar mterest at the highest rate
<br />~pisart~~bk~uridear a~rppflcablt law_ Npihing c,^.ntairted in this paragraph 7 shat) rcyuire Lrndar to incur any expense or [aka
<br />i. ~, l.endtr may rtiake ur cause to be made xtav~nahtc entries upon and mvpr:s:tivns ref the Property, prnv:ded
<br />tka! Lrrukr t;ltatt give @lxurcratr tuNis=t prior to any suck insp¢cii:=n specifying rtaxunsble cauu therefor related to Lender's
<br />rrittiaai in iht Pt-opcrty.
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