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8I--X02785
<br />Uritt:oarr COVENAN7.5. Borrower and Ltnder covenant and agree as fdbws:
<br />1. ltaytaetit of Priacipl ud IMereat. Borrower shall promptly pay when due the principal of and interest nn the
<br />indebtedness evidenced by the Note, prepayment artd late charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Dted of Trust.
<br />Z. Ftttttt~ (ar Ta;a alai Ieateamee. Subject to applicable law or to a written waiver ?rv 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, it any, plus one-twelfth of yearly premium installments for hazard insurance.
<br />phis one-twelfth of yearty premium installmtnts for mortgage insurance, if any. alt as reasonably estimated initially and from
<br />time to time by Lendtr 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 guaeanteed by a Federal or
<br />state agency (including Ltnder if Lender is such an instiiuhoni. Lender shall apply the Funds to pay said taxes, assessments,
<br />insuratue premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account
<br />or verifyirtg and compiling said assessments and bills. unless Lender pays Burrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agrce in writing at the time oh execution of this
<br />Deed of Trust that interest on the Funds shall be paid to Harrower, and unless such agreemem is mad[ or applicable law
<br />requires such inttrtst to be paid, I_rnder shall not be required to pay Borrowtr any intertst nr earnings nn. the Funds. Lendtr
<br />shall givt to Borrower. without charge, an.annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each ambit to tht Funds was made. The Funds are pledged as additional security far [he soma secured
<br />by this Deed of Trust.
<br />If tht amount of the Funds held by Ltnder, together with the future monthly installments of Funds payable prior to
<br />the due dates of texts, assessments, insuranct premiums and ground rents, shall exceed the amount required to pay said taxes.
<br />assessments, insurance premiums and gn+und rents as they fall due, such excess shall E>e, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Ba+rrowet on monthly installments of Funds. ff the amount of tht Funds
<br />held by Lender shall not tee sutTicient to pay razes. assessments. insuranct premiums and ground rents as they fall dot.
<br />Borrowtr shall pay to Lender any amount necessary to make up the deficiency within 30 days fmm [he date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all stems secured be this Deed of Trust. Lender shall promptly refund to Borrower any Funds
<br />held b}• Lender. [f under paragraph 1R hereof the Property is cold nr the Pruxny is otherwise acquired by Lender Lcndrr
<br />shall apply. no later than immediately prror fa the sale of the Properly or its acquisition by Lender, any Funds herd by
<br />Ltnder at the time of application ~s a credit against the sums secured by flits Uetd of Trust.
<br />3. ApplkaKon of Pavtaents. Unless applicable lau provides uffierw'rse, all payments received by [.ender under the
<br />Nntt and paragraphs € and 2 hercaf shall he applied try Ltrtder fist i., payment of amounts payable to Lender by Borrower
<br />under paragraph ? hermf. then to interest payable on the tiutr, then to the princrpal of the Note, and then to interest and
<br />principal on any Future Advances
<br />4. Charges; Liens. Harrower shell pay ail rates. assessments and o[her charges. fines and Impositions auributablt to
<br />the Property which may attain a pnoriry' over thee Deed of Trust. and leasehold payments or ground rents, if any, in the
<br />manner provided under paragraph 2 hereof ur, if oat paid in such m:mner, by Burrower making payment, when due. directly
<br />to the payee thereof. Burrower shall promptly furnish to 1_endrr all notices of amounts due under this paragraph. and in the
<br />event Borrower shall make payment directly, Borrowtr shall promptly furnish to Lender receipts evidencing such psymtnis.
<br />Borrower shall promptly discharge any Sien whrch €+as pnarity over rhrs lkrd of Trust: provided. [hat Burrower shall not be
<br />rtgwrcd to discharge any such lien sa long as Borrower shall agree in writing to the payment of Iht obligation secured by
<br />such I+en +n a manner acceptable u+ Lender, or shalt m goad faith contest ouch hen hy, ar Defend enforcement of such hen m.
<br />legal pproceedings whrch operate to prcvem the cniorcement ~..->f the Iirn or forfeiture of the Property er any part thereof.
<br />S. Hazard tastraaee, Borrower shat! keep the improvements now rvshng or hereafter erecmd nn the Property insured
<br />against !on by fire, hazards included within the temr "rxtendeJ covrragt•', anJ wch other hazards as Lender may reyuire
<br />and in such arttounts attd for such ptrtuds a, Lender may requue: pn?yideJ, that Ltnder shall nt.t reyuur that the amount of
<br />such coverage exceed that amoum of coverage requurd ro pat the sums secured by rhrs Ueed nt Tnist
<br />Tht insuranct a'arrier pravtd:ng the imurance .hail tx .hosts by Hormucr suhtec; t+, appn+val by Lendtr, provideJ.
<br />that stic6 approval shall not tx wueasonabiy u•+rhheld. AU premiums on rnsurtnic polities shall be paid in the manner
<br />providtd tinder paragraph 2 hercaf ar, if not paid m such manner, h} Borrower making payment, when dot, directly to the
<br />insurance carrier.
<br />Afl insurance polides and .--tuwals thereof shall ht to hum a.ceptahie to Lendtr and chail Include a standard mongage
<br />clause in favor of and in form acerptahtt to l..zndn !.rndcr shaft have the nght to ho!.i the pu{icres and renewals thereof.
<br />and Borrower shah promptly furnish to 1-cnJer ail rtnrwa! naritcec anJ sit rece+pts of part premtrtms. In the event of ]ass.
<br />Borrower shall give prompt notice to the ~tnurance correct and 1 miler LrnJer mss make pravf of loss +t nut made promptly
<br />by Borrower.
<br />Unless t.tnder acrd Baxrnwet othcrw+sr agree rn µrrtuig. ~rsurance prxteds ,hail ht applied ;++ rz,toration or reparr a(
<br />the Property damagtd, provided such rruurao.+n ur rep.ur ~, rrmnmueily tcasrbk end the security of ihr, beef of Trust u
<br />itW thereby impaunT. if such restarauon ur rrpau ~, not rcont*mically feasibit or r€ the sruirily of thn Lhed of l'nnt would
<br />be rmparreci, the insurance pnx:teds shall be apphrJ tc the rums securtd by this f)erd of "i~rust. with [he txcess. if env, pail
<br />to Borrowtr. LL the Proptrty is sbandaxteJ by B++nawtr, ;x if Harrower tads to respond to l_rnder within 30 day, (coin the
<br />dart npnce is rrtailtd by Ltnder tv 8orruwer chat the :nsurante cart ter oifzrs ro settle a ctarm for insurance benefits. L.endrr
<br />is authorrzrd to collect and apply rite insurance proceeds at Lender's option cuhrc to restoration or reparr of the Propen:
<br />ur to the sums securtd by this Detd of Trust
<br />Unless t.ettdtr and Borrower ntherwtse agree en wnhng, an} such application of proceeds to principal shall not extend
<br />or postpurce tht due date of the monthly installments relerred to m paragraphs t and ? hereo[ ur change the amount of
<br />such installments. If under paragraph t>; hereot the Propcn} ,s acyuued by tinder, all right. title and interest of Borrower
<br />in artd to any insurance poticies and in and to the pr<>vezds thereat resultrng from damage n the Property prior to the salt
<br />or acquisition shalt pass to Lender uz the extent of thz sums secured bs rhrs Ucctii o4 trust rmmedrately pour to such sale ar
<br />acquisition.
<br />6. Preaen~a[ba sad Malesttaaace of Property; Leaseholds: l'nrdomiaitwms; Planned Unit Developments. Borrower
<br />shall keep flit Pmpztty m gck*J reparr .u=.J ,hat! n;~t :omt2ut ~. rite ~•r pernut uu p.urrnent ar Jttrrioranon of the Property
<br />and shat! comply with the provolone of anti lease if rhrs [feed of Trust n Ofl a ?easehuld_ !f this Deed cf Trust is on a unit m a
<br />condominium ur a planntti unit development, Borrowtr sha`,i ptrio~m ail of Borrowrr~s ohligatiuns under the declaration
<br />ur covenants :,rating or governing the eundommium ur planned un;t development, the by-laws and reguiauons of the
<br />condominium or planrted amt development, and constituent d+>LUmcnts !f a condominium ar planned unit desclopnrrm
<br />rider is exrcuttd by Borrower xnd recurdcsf tugethtr with thy., I.?eed ++t Trust. the covenants and agreemtnts of such rider
<br />shall be rrtcorporatrd into and shall amend and supptztmnt the covenant, and agreeatrnts of this DeeJ of Trust as .f the rider
<br />weer a part lxrraf_
<br />7. htoteceioa of Leadtr's Srtrreit}'. if &aruwzr fads to perform fhr -ovznants anJ agreements centaincd in this
<br />Deed of Trtut, ar if any action or pructrdmg +s commenced whrch matcriall} atTects Lender's interest in the Property,
<br />including, but not limited to. eminent dusnain, inx*ivrnc}, isvdt enforcement, or arrangevtents ur proceedings involving +
<br />bankrupt or decedent, then [xnsier at Lender's option, upon notice Ea? Burrower, rosy make such appearances. di,t+irrse such
<br />sums acrd take such action as is necessary to tatert LenJzr'v rntesest. u+cfuding. but no[ 6mrted to, dtsbursr meat of
<br />reattomtdt attartity's tees acrd corn' :[pan the Pra>pert} to ;Hale [.pain f€ Lender rcyuired mortgage imurance as a
<br />cortdisaon of making tftt loan secured b; this L)eai a+f Trust. Barnswer shah pay the premiums required to mamta+n such
<br />rttsutatk.t in tfttct until such titrit as the reyuirernent fur such irssnrana trrmmates :n accordance with Borrower's and
<br />Lesxkra wriUtn agixrt~nf ar applicable law Barr~wer shall pa} the amount a€ aft mortgagt insurance premiums +n the
<br />manner provided urrdtr paragraph Z htrenf.
<br />Any aetxwnts disbursed- by Lender pursuant to rhrs paragraph i, wuh interest ihtrron. shall fxcunre aJd'tuona!
<br />itxleLtrdtKSS of Borrower soured by this Uttd of Trust Gnlrss Ht+ctower and Lendtr agre€ to other terms of paymtnt, ,uch
<br />attnrrnts shall lot payable upon orates Irarrt Ltndtr to Hr+rrswrr reyutsung Fa}'mint rfitreuf. and shall Mrur interest from the
<br />date t>f tusetgent ~ the Tait payabtt from tirite to time tin outstanding pnncipai under the Note tutlzss payment of interest
<br />at xM:h rata woukt br ccxtuary to apptr:•ablr !au'. to uhtth event ~uch amounts shall hear intertu at the highest rat[
<br />permiaasbit under appfitabk taw. Ncxhing cintiaineat to this paragraph T shall reyuire Ltndtr to incur any expense ar take
<br />any action lilt;under.
<br />B. ~ Ltndtr may rttakr ur cause ter fro mad[ reasrnafair rntnes up<ua and +nsptca+ms a€ the Pra+ptrty, ptc~. ideJ
<br />that l.snskr t3tall Bite Borrower twttce prior is any stash insp~rcuun sptr.•iCping era>arnat>Ec cause th+;r~for ce{xtCJ i., Lender',
<br />enfrtpi in the Ptotmgtr-
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