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~I-1)0214
<br />UNIFORM COYP.N~NT$. BOrrOWCr rind Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Notc, prepayment and late charges as provided in the Note, and the principal of and interest
<br />nn anyy Future Advances secured by this DeeJ of Trust.
<br />Z, Fonds for Tares and Insurance. 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-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Deed of Trust, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance.
<br />plus one-twel[th of yearly premium installments for mortgage insurance, it any, all as reasonably estimated initially and from
<br />time to time 6y 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 are insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments.
<br />insurance premiums and ground rents. Lender may not charge Cor so holding and applying the Funds, analyzing said account
<br />ar verifying and compiling said assessments and bills, unless Lender pays Borrawer 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 o(' 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. i_ender
<br />shall give to Borrower. without charge, an annual accauming of the Funds showing credits and Debits 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 sums secured
<br />by this Deed of Trust.
<br />If the amount of the Funds held by Lender, tagethcr with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed [he amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents as they Iall due, xech excess shall he, at Borrowers option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amourt of the Funds
<br />held by Lender shall not be sufficient to pay taxes. rise§sments, insurance premiums and Ground rents as they fall due.
<br />Borrower shall pay to Lender any amount necessarv 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 all sums secured by this DecJ of Trust, Lender shall promptly refund to Borrower any Funds
<br />held by Lender If under paragraph 18 hereof the Property is cold or the Property is otherwise acquired by [,ender. Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its acgnisnion by Lender, any Funds hell by
<br />Lender at the time of application as a credit against the sums secured by this Deed of Trust.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall he applied 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 No[e, and then to interest and
<br />principal on any Future Advances.
<br />4. Charges: Lierts. Borrower shalt pay all razes. assessments and other charges, fines and impositions attributable to
<br />[he Property which may attain a priority aver this Deed of Trust, and leasehold payments or ground rents, if any, in the
<br />manner provided under paragraph 2 hereof or. if not paid in such manner, by Sorrower making payment, when due, directly
<br />to [he payee thereof. Borrower shat! promptly furnish to Lender all notices of amounts due under this paragraph, and in the
<br />event Borrower shall make payment Directly, Borrower shall promptly (urnich to [.ender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Deed of Trust: provideJ, that Borrower shall not he
<br />required [o discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a manner acceptable tv Lender, i)r shall in gooD faith contest such lien by, or defend enforcement of such lien in.
<br />legal proceedings which operate to prevent the enlorcemen[ of the lien o. forfeiture of the Property or any part thereof.
<br />5. Harard Insurance. Borrower shall keep the emprovements now existing or hereafter erected an the Property insured
<br />against loss by fire, hazards included within the term "extended coverage". anD such other hazards as Lender may require
<br />and in such amounts and for such periods as f_cnder may require: provided. that 1_ender shall not require that the amount a(
<br />such coverage exceed that amount of coverage required ro pay the sums secureD bq this Decd of Trust.
<br />The insurance carrier providing the is ~ •trance shall be chosen by Borrower subject to approval by Lender, provideJ,
<br />that such approval shall not be unreasonably withheld. All premiums or. insurance policies shall he paid in [he manner
<br />provided under paragraph Z hereof or, if not paid in such manner, by Sorrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and n.newals thereof shall be in form acceptable to 1_ender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lender shall have the right to holJ the policies and renewals thereof.
<br />and Borrower shall promptly furnish to Lender :dl renewal notices anD :dl receipts of paid premmms. In the even[ v( loss.
<br />Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss i( not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall he appbed A+ restoration or repaer of
<br />the Property damaged, provided such restoration or repair is ecanomicully feasible and the security of this Deep of "trust rs
<br />not [hereby impaired. If such restoration or repair is nut economically feasible ear i( the security of this Dced of l7:nt would
<br />be impaircD, the insurance proceeds shall be appiie~i tv the sums secured by this Deed of "Trust, with the excess, if any, paiD
<br />to Borrower. If the Properq• is abandoned by Borrawer, or if Borrower fails to respond to Lender withe,t 30 Days from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier offers to settle x claim for insurance benefits. Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Propeny
<br />or to the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall no[ extend
<br />or postpone the due date o[ the monthly installments referred to in paragraphs I anD ?hereof or change the amount of
<br />such installments. If under paragraph I8 hereof the Property is acquired by Lender, all right, tide and interest of Burrower
<br />in and to any insurance policies and in anD to the proceeds thereo[ resulting Ervin damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the extent of the sums secured by this Decd of Trust immediately prior to such sale or
<br />acquisition.
<br />6. Preservation and Mtaotenance of Property; Leaseholds; Condominiums; Planned Unit llevelopmenLS. Borrower
<br />shall keep the Property in good repair and shall not aanmrt waste or pcrnut impainnert or Jclcrioretion oti the Property
<br />and shall comply with the provisions of any lease if this Decd of Trust is on a leasehold. If this Deep of Trust is on a unit in a
<br />condominium ar a planned unit development, Borrower shall pecfarm all of Borrower's obligations under the declaration
<br />or covenants creating or governing [he condominium or planned unit development, the by-laws anD regulation, of the
<br />condominium or planned unit development, and constituent documents. If a condominium or planneD unit development
<br />rider is executed by Borrower and recorded together with this Deep of Trust, the covenants and agreements of such rider
<br />shall be incorporated into and shall amend and supplemem the covenants and agreements of this Deep tit Trent as if the rider
<br />were a part hereof. -
<br />], Protection of Lender's Security. If Borrower fails to perform the covenants anJ agreements contained in this
<br />Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Property,
<br />including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
<br />bankrupt or decedent, then Lender at Lender's optivn, upon notice to Borrower, may make such appearances, Disburse such
<br />sums and take Sneh action as is necessary to protect Lender's interest, including, but nut limited t0. Dishursemem of
<br />reasonable attorney's fees and entry upon the Property to make repairs. If bender reyuired mortgage insurance m a
<br />condition of making the loan secured by this Deep o[ l'rust, Borrower shall pay the premiums reyuired to maintain such
<br />insurance in eSect until such time as the requiremeru for such insurance terminates in accordance with Borrower's and
<br />Lender's written agreement or appiicable law. Borrower shall pay the amount u( all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by [.ender pursuant ro this paragraph 7, vnth interest thereon. shall become additional
<br />indebtedness of Borrower secured by this Deed of Trust. finless Borrower and Lender agree ro vther terms of payment, such
<br />amounts shall be payable upon notice from Lender to Burrower requesting payment therevf, and ,hall tzar interest from the
<br />date of disbursement at the rate payable from time tc+ time on outstanding principal under the Note unless payment of interest
<br />at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable law. Nothing cont:.ineD in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />8, hsepectioa. I-ender may make or cause to he made reasonable entrees upon and inspecunns of the Pnpcnc, pmseded
<br />that Lender shall give Borrower nvtecc prior to any srh ia;apection speciiymg reasonable cause therefor relate) iv LcnDer's
<br />interest in the Proot:rty.
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