|
81-002'22
<br />Unrtratxt Covetvartrs. Borrower anti fender covenant and agree as follows:
<br />lr )!"pmeut of aN hatesesf. Borrower shall promptly pay when due ti•.• principal of and interest on the
<br />irtdebtednns evidenced b~ y the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on an Futtrre Advances 5acured by this Decd of Trust.
<br />1 1lho~ tor'liau-ststi irrarasaee. abject to applicable law or ro a written waiver by Lender, Borrower shall pay
<br />to Leader on the day tttoathty installments of principal and interest are payabk under the Note, until the Notc is paid in fall,
<br />a sum (herein "Ftttt~'7 equal to cite-twelfth of the yearly taxes and assessments which may attain priority over this
<br />f3etd of Trust, and grwrrtd rents oft fire Property, if any, plus one-twelfth of yearly premium installments For hazard insurance,
<br />phn cite-twelfth of yearly prnrrium irtstafiments for mortgage insurance, if any, atI as reasonably estimated initially and from
<br />tune fo time by Leader on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds ahalE ire held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />Batt ageac}+ (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes-assessments,
<br />ittsurartce premiuttn and ground rents. Lender may not charge for so holding and applying the Fends, analyzing-said account
<br />or vetffyittg attd compiling said asstxstnents and bills, unless Lender pays Borrower interest nn the Fund`s and applicable !aw
<br />permas [ender 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 agreemem is made or applicable law
<br />regttirts such interest to tx paid, Lender shall not be required to pay Borrower any !merest or carninps on the Funds. Lender
<br />span give to Borrower, without charge, an annual acounting of the Funds showing credits and debits to the Funds and the
<br />putptiae far which each debit to the Funds was made. The Funds arc pledged as additional security for the sums secured
<br />..; this Deed of Trim.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payobk prior to
<br />the due deed of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes.
<br />assessments, imtrrance premiums and ground rents as tfiey faN due, such excess shall be, at Borewers option, either
<br />promptly repaid to Bottosrer or credited [o Borrower on monthly installments of Funds. )f the amount of the Funds
<br />held by fitxkr shat( not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due.
<br />Borrower shall pay to [.ender any amount necessary to make up the deficiency within 30 days from (fie date notice is mailed
<br />1-y I ender to Borroter regtrntirtg payme:tt tFtercof_
<br />Uprm payment in full of elf sums secured by this peed of Trust, Lender shall promptly refund to Borrower any Funds
<br />held by Linder, If under paragraph i$ hereof the Property is Bald or the Property is otherwise acquired by Lender. Lender
<br />shall apply, no later that imrnedratelp prior [o the sale of the property or its acquisition by tinder, any Funds held by
<br />[,trader at tfx time of application as a credit against the sums secured by this Deed of Trust.
<br />~• A~BgBats ref Pa3~eaN. Cntess applicable law provides otherwise, ail payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall lee applied by Lender firs[ in payment of amounts payable to Lender by Borrower
<br />under puagraph 2 hereof, (ben to interest payable on the Note, they, to the principal of the Note. and then to interest and
<br />prittp`pa! on any Ftrture Advarscea.
<br />44.. Chasles`, I3eas. Borrower shalt pay all [axes. assessments and ether charges, fines and impositions attributable to
<br />the Prnpvty whirl( may attain a priority over this L~ of Trust, and leasehold payments or ground rents, if <ny, in the
<br />maontt provided trader paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly
<br />to lire payee tbertof. Borrower shall promptly furnish to Lender all novices of amounts due under this paragraph, and in the
<br />event Burrower abatl moire payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shag promptly discharge any lien which has priority over this Deed of Trust; provided, that Borrower shall not he
<br />required to discharge any such Tien so long as Borrower shall agree in writing ut the payment of the obligation secured by
<br />such lien in a manner acstptable [o Lender, or shall in goad fadh contest such lien by, or defend enforcement of such lien in.
<br />legal gs which operate to prevent the enforcement of tbe lien or forfeiture of the Property or any part tfiereof.
<br />• lEltsrd lirsw[at•te. Borrower shall leap the improvements now r_xrsting or htrcafter erected on the Property insured
<br />against tom by fire, Ftarards ittduded within the term "extended coverage'". and wch csther hazards as tender may require
<br />attd in such atrtounts artd for such periods as tinder may require; provided. ?hat Lender shat( not require that Phe amount of
<br />such overage exceed that amount of coverage required to pay the sums secured by this Decd aF Trust.
<br />The imurattce canter provtdittg the insurance shall rte chosen by Burrower sables( to approval by L.cnder. provideJ,
<br />tFUiR snch approval shun not Fie unreasonably withheld. AU premiums on insurance policies shaft be paid in the manner
<br />provided tsadt:r ptuagraph 2 hereof or, if not paid in such manner, by Borrower making payrttettt, when due, directly to the
<br />tmtrraac carrier.
<br />All irffiutance policies and ruxwals thtteof shaft be in (orm acceptable to Lender and shaft include a standard mortgage
<br />clause in favor of and in form acceptable to !.ender. Lender shall have the right to bald the policies and rettewats thereof.
<br />and Borrower ahan promp[ty furnish to tinder sit renewal notices and all receipts of paid premiums. in the event of toss,
<br />Borrower shall give prompt odic( to fix insurance earner arxt Lender. Lender may make proof of lass rf not made promptly
<br />by Borrowm.
<br />Unleaa lender and Borrower atherwtse agree in wriung, insurance proceeds shall he applied to restoration or repair of
<br />the Property damaged, proviet>Kf srxh restoratrorr r>r repam a eeanwtrrcalry feasible artd the security of this Decd of Trust is
<br />ttW (}tetchy impaired. if such tatora[ron or repair is not economically frasrble or rf the security of this Deed of "fins( wautd
<br />be impaired, tftt insurance proc«da shag be applied to the sums secured hr this t3ecd of 'trust, with the excess, if any, paid
<br />to Borrower. If the Property n abandoned by Borrower, ar if ifarrower farts to respond to Lender within 30 days from the
<br />date notice is (nutlet by (.ender to Borrower u,at the msurarttt carrier offers to scare a elatm for insurance benefits, fender
<br />is suthortztd to tittles( and aPPFY ~ insurance prrrceetts at tenders option caber to restoration or repair of the Property
<br />a to the :two atcurcd by this Doed of Trerst.
<br />Unless LRtttkr and Borrower otherwise agree in writing, env such application of proceeds [o principal shall not extend
<br />or pos(pone the due dart of the monthly irotallmtnts referred to in paragrapfu 1 amt 2 hereof or change the amount of
<br />such iastallntarts. If tinder paragraph i$ htrsof ttre Property is ncyuired by Lender, ail right, title and interest of Borrower
<br />in and to any itsurance policies and rn arrd to the proceeds thereof resulting front damage to the Property prior to the sale
<br />or acgttisitittn strut! pass to Letxkr to tint extent of the sums secured by this Deco of Trust rmnrediately poor to such sale or
<br />tttqut:ttioa.
<br />6 MYtKevrofiti trsi Maiateauce of Praperq; I~nseAolds; Lrradarwiuma; PlaaeeA UuN Develepraen[s, Borrower
<br />shat( keep iht Proptriy m good repair aril shaft net comntrt waste or permit impa~rnrent or dcteriaration of the Property
<br />and atwlf comply with [Fie provisions of any Lease if this Deed of Trust is an a leasehold. tf [iris Died of Trust is on a unit in a
<br />cottdaarinitam or a planned unit dtvebprntnt, Borrower shall perform ail of Borrower's obligations under the declaration
<br />ur cmettanta creating or governing the candoenrnitrm or planrxd nett development, the by-laws and regulations of the
<br />condoatiaium or planned unit devefoptetent, and corratrtrrent dacumenis. if a condominium or planned unit devclopmcnt
<br />rrdtr is etttertsed try Borrower a~ recorded together with this Deed of `Trust, the cavtnants and agrcenttnb of such rider
<br />abet! be ittkwtporated lino artd shah amend and supplement the Covenants and agreements of this i)eed of Trust as if tbe rider
<br />~reT. Assrlsegae a[ t.ealkr'a 5eetttitX if Borrower faits to perform the wvenants and agreements contained in t`tis
<br />Datd 6f Trutt, M if any action or ptoceatiag is commenced which materially affects Lender's interest in the Property.
<br />tnehtdfa;, tea not Iitnikd ta, erurutnt domain, itssolvtncy, code cote+rcemtnt, or arrangements or practedings invoivrng a
<br />ttaakrttpt ~ + titan [.entkr at tinder's option, upon notice to Borrower, may make such appearances, disburse such
<br />sutrts and take attch action as is necessary to protest Tinder`s !merest. including, but not limited to, disbursement .+1
<br />rsesonairk aitatnty's foes and entry upon rise Property is rnaF.e repairs. 1[ Linder required mortgage insurance av a
<br />trpodshoa a[ soakrtrg tits loan stcrued by [Otis Decd o[ "1 rust, Borrower shall pay the premiums required to maintain such
<br />iastglaece m eAltct until such time as the :aJuit>Cratni far such insurance terminates in accordance wish Barrowerb and
<br />f.epdyr's writsen ~ or law, Btxrower shall pay the amount of ail mortgage insurarnce premiums in the
<br />ntttAatr provided under pUt~sph~2 abktranof_
<br />/~syy tea disFrw"ud by i.+rrndtr ptuWant to this paragraph 7, with imertst thereon. shah became addittru4ai
<br />t~wsa at Burrower seettrtd tsy thin Decd of Trust. tlniess Barrawer and Lender agree to ether (eons of paymem, sucl+
<br />ataptlA4f ahafF Fre_payabk upon troll(( from Lender to ibrrawer reyrresting paynttnt thtrtaf, and shalt Lsaar rntertst (ram the
<br />drie ttf tBshrsrsepreat art the net payable from slant to (tine on atxstanding principal under the Note unites paymrnt of inseres:
<br />at wch tart wotrkl t+t ronirary to apptrcabk law, in which event such awrttunts shall hear rntertst at the bights( rate
<br />P~ unxfW appiitaNa taw, Ntxlwng cortrairmf in this paragraph ?shelf require finder to incur any cxptnst ar take
<br />say ~ faCraitGda-.
<br />I.eadaa may nsake ur cause io be mad( rtasanabk entries upon and inspeauatts at the Property. provided
<br />tFpt F,.enskr shttf give Bwrawu notice prior W say such irupscrxm apesityiag reascxtable cause rhett[s:r related rn L cnder'~
<br />trt(Otyei i4 thtt 1P-
<br />
<br />
|