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$1--l~ti 140 Utvtrroaas Covawetvrs. Borrower and Lender covenam and agree as follows: 1. Pgnstat of Larlnefpd and Interest. Borrower shall promptly pay when due the principal of and interest on the indebtsdnssa evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest ore any Future Advances secured by this Deed of Trust. 2, 1E:tw8 far Vets atsd 9ltanraaee. Subject to applicable law or to a written waiver by Lender, Bortower shall pay to Lender on the day monthly installmmnts of principal and interest are payable under the Nods, until the Note is paid in fall, a sum (herein "Funds") equal to one-twelfth of the yearly taxes and asxssments which may attain priority over this Deed of Trust, and ground trots on the Property, if any, plus one-twelfth of yearly premium installments foe hazard insurance. p!!>a ors-tsv, Sfih of ysarty prmium installments for mortgage insurance, if any, all as reasonably estimated initialky and from tuna to time by Lender on the bazis of assessments and bills and reasonable estimates thereof. The Funds shall be held in an insh.ution the deposits or accounts of which ®re insured or guaranteed by a Federal ar state agency (including Lender if Lender +s such an institution). Lender shall apply the Funds Yo pay said taxis, assessments. insurance premiums and ground rents. Leader may not charge for so holding and applying the Funds, analyzing said account of verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing at [he time of execwion of this Dced of Trust that interest on the Funds shall be paid to Borrower, and unless such agreement is made ar applicable law requires such interest to be paid, Lender shall not fzc required to pay Borrower any imerest or earnings on the Funds. 1_ender shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds anJ the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Deed of Trust. if the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes, assessments, insurance premiums and ground rents'as-they fall due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds herd by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due. Borrower shalt pay to Leader any amount necessary to make up the deficiency within 30 days from the date notice is mailed by Lender to 13orrotver rcgtreuiag payttten¢ thereof. Upon payment in furl of all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower any Funds held by Lender. ff under paragraph I8 hereof the Propery is sold or the Properly a otherwise acquired by Lender. Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Deed of Trust. 3. Applieatlon of 1Payttseols. Unless applicable law provides otherwise, all payments receive) by Lender under the Note and paragraphs 1 and Z hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower tinder paragraph 2 hereof, then to interest payable on [he Note, then to the principal of the Note, and then to interest and p_atct¢a! on any Future Advances. ~ 4. Cirata¢s; LieOt. Borrower shall pay all taxes, assessments and other-charges, fines anJ impositions attribulablt to the Property which may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any, in the maitaer provi~d under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when dui, directly to the payee thereof. Borrower shalt promptly furnish to Lender all notices of amoemts due under the paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts eviJencing such payments. Borrower shall promptly discharge any lien which has priority over this Deed of Trust; provided, that Borrower shall not be required [o discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by such lien in a manner aceeptabh to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in. le ai pproceedings which o rate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof. 8 S. liasud Iasnrarrax~Bormwer shall keep the improvements now existing or hereafter erected on the Property insured against loss by Rrs, hazardsinduded within the term "extended covirrge'", anJ such other hazards as Lender may require and in such aroaun[s and for such periods as Lender may require; provided, that Lender shall not require that the amount of sw:h coverage exceed that amount of coverage required to pay the sums secured by this Deed of Tnist. The ir.s-u.an<-e terrier providing test insurance shaft be sheets ley Bar:awtr subject to approval by Lender: provide J. that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner provided ostler paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to ta_ ittturance carrier. All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage claiise in favor of and in form acceptable to Linder. Lender shall have the right a holil the policies and renewals thereof. sad Borrower shalt promptly furnish to Lender aB renewal notices anD ail receipts of pail premmms. In the event of loss. Borrower shall give prompt notice [o the insurance carrier anJ Lender. Leniler may make proof of loss if not made promptly by Bortower. Unxu Lender atxf Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damages, provided such restoration or repair is economically feasible and the security of this DeeJ of Trust is not thereby impaired. If such ratoration or repair is not economically feasible or if the security of This Deed of Trust would be impaittd, the lnsuranct proceeds shall be applied to the sums secured by this Decd of TrusI, with the excess, if any, pail to Harrower. if the Property is absndoneJ by Borrower, or if Borrower faits to respond to Lender within 30 days from the date iWtice is mated by Lender to Borrower that the insurance carrier otters to settle a claim for insurance benefits, !.ender is authorised to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property or to the stems secured by this Dad of Trust. Ualeas [.ender acrd Borrower otherwise agra in writing, any such application of proceeds to principal shall not extend or poslporte tht due dais of the monthly installments referred to in paragraphs !and 2 hereof or change the amount of such instalirrieriti U under paragraph I8 htreaf the Property is acquired by Lender, ail right, title and interest of Borrower in and to any insurance policies and m and to the proceeds thereof resulting from damage to the Properly prior to the sale or acquisition shall pass to Lertdsr to the extent of the sums secured by this Deed of Trust immediately prior to such Bali or acquisition. ti. Fetaesvstlon aad Maiatenaace of Property; Leaseholds; Coiidoiltiaiums; Planned Unit Developments. Borrower chat) keep the Property in good repair and shall not commit waste ar permit impairment or Jeteriarrtinn of the Property and shall comply with the provisions of any lease if this Decd of Trust is on a leasehold. If [his Deed of Trust is on a unit in a condominium or a piat[ntd unit development, Borrower shalt ptdorm ail of Borrower's obligations under the declaration ctr c9vtpants l:[srltigg p(: governing [he condominium or planned unit development, the by-laws anJ regulations of the condominium or planned unit development, and constituent documents. If a condominium or planned unit development rider is executed 6y Borrower and recorded together with this Deed of Trust, the covenants and agreements of such rider shall be incorporated into and shall amend and supplement the tavenants aaJ agreements of this Deed of TNSI as if [he rider wire a part 6ersof- 7. PsWeetion of Lender's Security. If Borrower fails to perform the covenants anJ agreements cantained in this Deed of Trust, or if any action or proceeding is commenced which materially aftec[s Lender's imerest in the Property, inettiding, but oat limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving :. bankrupt or decukn4 then Lentkr at Lender's option, upon notice to Borrower, may make such appearances, Disburse such sums acrd lake such action as is necessary w piidect Lender i driar~t, i- kg, b ..et ~itcd ta, d .,:::.emir,: c. reasonable attorney's fees and entry upon the Property to make repairs. ~11f Lenderurequired mortgage insurance as a cotiditiol of making the loan secured by this Deed of Trust, Borrower shall pay the premiums require) to maintain such insutattce in eAece until such time as the requiremtN rot such insurance terminates in accordance with Borrower's anD leaders written agreemetii or applicable law, Borrower shall pay the amount of ail mortgage insurance premiums in the manger provided tinder paragraph 2 hereof. Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thtreon, shall become additional imlebtediteas of Borrower taxurcd by this Dced o{ Trust. Unless Borrower and Lender egret to other terms of payment, such amounts :halt Ix paymbk upon notice from Lender to Borrower requesting payment thereof, and'shal! bear interest from the date of dabursetnent at the rate payabit [ram time io time on outstanding principal under the Note unless payment of interest at such raft would be cantrary to applicable law, in which event such amounts shalt tzar interest at the highest tale permissit~ utnier applicable raw. Nothing cantained in this paragraph 7 shall require Lender to ineur soy expense or take any attian hereunder. i• it~tsttion. Lstidcr may nuke or cause to be made reasonable entries open anJ inspections of the Property, proviJtil that Leotkr strait give Borrower notice prier to any such insptetion sptcifying reasonable cause thcrtfar related to 1_ender'v tntermt in the Property.