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81-e0 0 2'7?? Q~E- retCoRrl ~'--~
<br />UNIFORM Covetvsrrrs. Borrower and Lender covenant and agree as follows: v ~ '~' t) `j ~ " o
<br />indeb~e~tam~c~ ot~phdNa feleraf• Borrower shall promptly pay when due the principal of and interest on the
<br />Y p payment and late charges as providett in the Note, and the principal of and interest
<br />on any Future Advances secured by this Dced of Trust.
<br />2 Psi far 7L:ea trrd httttaraatce. Subject to applicable law or io a written waive:' by Lender, Borrower shalt pay
<br />to Lender on the day monthly installments of Principal and interest are payable under the Note, until the Note is paid in fu16,
<br />a sum (herein "Fonda^) equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Deed of Trusd, and ground rents on [fie Prnperty, if any, plus one-twelfth of /early premium installments for hazard insurance.
<br />phn one-twelfth of yearly premium ittsta}tmenis for mortgage insurance, if any, at( as reasonably estimated initially and from
<br />time to tirnt by I-ender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be Reid in an ins#i#ution the deposits or accounts of which arc insu:..1 or guaranteed bya Federal or
<br />state agency (ineludmg Lender if Lender is such an institution). Lender shall apply the Funds to pa said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said accotmi
<br />or verifying and compiling said assessmrnts and bills, unless Lender pays Borrower interest nn the Funds and applicabk law
<br />permits Lrnder to make such a charge. Borrower and !.ender 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 agreement is made or applicabk law
<br />requires such interest to be paid, Lender shalt not be required to pay Borrower any interest or earnings oo 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 />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 />Lf the amount of the Funds held by Lender, together with the futt:re monthly installments of Funds payable prior Kr
<br />the due dates of taxes, assessments, ivnurance premiums and ground rents, shall exceed the amount required m pay said taxes.
<br />assessments, insurance premiums and ground rents as they tall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower'om monthly installments of Funds. [f the amount of the Funds
<br />held by Lender shall not be sufficient tc pay taxes, assessments, insurance premiums and ground rents as they fall due.
<br />Borrower shall pay to Ixnder any amount necessary to make up the deficiency within 30 days from fhe dale notice is mailed
<br />by Lender to Borrower regttestirrg payment thereof.
<br />Upon payment in fait of all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower any Funds
<br />held by [.ender. If under paragraph I8 hereof the Property is sold or the Property s otherwise acquired by Lender. !.ender
<br />shall apply, no later than immtdtatety prior to the sale of the Propene or its acquisitimt by Lender, any Funds held by
<br />f-ender at the time of application as a credit against the sums secured by this L~.ed of Trust.
<br />3. Applitatlon M Ptyorp~. Unless applicable law provides ^therwtse, all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall rte applied by i.cnder 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 Note. and thrn eo interest and
<br />prixipal on any Future Advances.
<br />~~ ~ Lies. Borrower shall pay all taxes, assessments and other charges. fines and impositions attributable to
<br />the rmperty which may attain a priority over this Decd of Trost. and leasehold payments or ground rents, if any, in the
<br />roamer provided uttdtr paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly
<br />to the payee thereof. Borrower shalt promptly furnish to Lender all notices of amounts due under this paragraph, and in the
<br />event Borrower shall make payment directly, Borrower shalt promptly furnish ro (.ender receipts evidencing such payments.
<br />Borrower shalt promptly discharge any lien which has priority over this Uecd of Trust; provrded. that Borrower shall not t+e
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such Tien in a manner acceptable to Lender, or shall in good faith comest such lien by, er defend enforcement of such lien in.
<br />legal roceedings which operate to prevent the enforcement of the hen nr forfeiture of the Property or any part thereof.
<br />a• H>rara fawsaata Borrower shall keep the improvements now cxrsnng or hereafter erected on the Property insured
<br />against loss by fire, hazards indttded within the term "extended coverage'. and such other hazards as i.cnder may require
<br />sad in such amounts seed for such periods as 1_ender may require: provrded, that Lender chap nai require that the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured by th+s Dted of Tn+st.
<br />The insurance carrier providing the insurance shall Ne chosen by Norrower subtcct to approval by Lender. provided.
<br />that suchta~pdpetroval smtB trot be unreasonably withheld. All premiums on insurance policies shat! be paid in the manner
<br />i#~u ~ prrjarparaara~ 2 hereof or, i[ tent paid in such manner, by Borrower making payment, when due, difecHy to the
<br />All rrtsurarrce policies seed renewals thereof shall bt rn form acceptable u, Lender and shall include a standard mortgage
<br />cbgtsx in favor of artd io form acceptable to Lender. Ixnder shall have the right to hotel the policies and renewals Thereof.
<br />and Borrower shah promptly furnish to Lender all renewal rwtices and all receipts of paid premiums. In the event of loss,
<br />Borrower shall give prompt notice to the insurance earner and Lender. Lender may make proof of loss rf not made promptly
<br />by Borrower.
<br />Uaka Lender ar+d Borrower otherwise agree in writing, insurance prexeeds .hall be applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair a r~onom+cally fe:uihle and the security of th+s Deed of "foist is
<br />not thereby impaired. If such restoratiors or repair is nut eeonuntiealty feas+ble or ,f the u-curtly of this 1Jted of Trust would
<br />be impaired, Ilea insurance proceeds shall tit applied to the sums secured by this Decd of Trust, wish the excess, it any, paid
<br />to Borrower. tf the Property is abandoned 6y Borrower, or if Borrower fails to res}xmd ro Lender within 30 days from the
<br />date notice is mailed by Leri~r to Borrower that the insurance earner oilers w settle a claim for msurana; benefits, lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option ether to restoratiat or repair of the Property
<br />or to the sums secured by this Dced of Trust.
<br />Unless Leader and Borrower otherwise agrt. ~n writing, any such application u! prtxceds m principal shall nut extend
<br />or postpone the titre date of the monthly installments relerred to in paragraphs 1 and 2 hereof ur change the amount of
<br />sac, rnstallmertis. If under paragraph t8 hereof the Property is acywred by 1 ender, all right. title and interest of Borrower
<br />in seed to any insurance policies and m and to the proceeds thereof resulting from damage to the Property prior to the sate
<br />or acquisition shall pass to Leraler [o the extent tit the sums secured by th+s Deed of 'Dust immediately prior to such sale or
<br />acq[nsitioo.
<br />6' PreaervaUom sad MatWenance of Property; L.easefattldfi Coadotniniurns; Phoned Unit Ueveloyoieats. Borrower
<br />shill keep the Property m good repair and chat! not comma waste or t>.rrnnt irnpaumr^; .rr Jctcnorauun of the Property
<br />and shall comply with the provisions of -any Rase if this Deed of Trost i> nn a leasehold. It this [tied of Trust is on a unit in a
<br />condominium or a planned unit developmem, Borrower shaft perform ;,tt tit Borrowe(s obhgaGons under the declaration
<br />or covenants creating or governing the condominium or planned amt development, the by-laws and regulations of the
<br />condominium or plattaed unit development. and constuuent documents. If a cunduminmm or planned unit development
<br />shall 6e irtcarpora[edBnto and shall amt deand ~ pplement the cc~narts a ~ ragre~ements o(tth Decd eei~ cwt as ifs a rider
<br />wire a part lrerrnf.
<br />7, PauhYfioa of Ixtader's Scenery. !f Borrower fads to perform the covenants and agretmcnts contamcd in this
<br />Deed of Trost, or if any action or procetdmg as commtnccYt which rnatenaily affects Lender's interest in the Property,
<br />+ncluding, but not limited to, eminent domain, msolveitc}, code enforcement, ur arrangements or proceedings involving a
<br />bankrupt or decedent, then I.errder at Lender's option, upon notice ter Borrower, may make such appearances, disburse such
<br />soma at+d take such action as is necessary to prutat Ixnderi interest, including, but not limited lei. dishunenrent nt
<br />reasonable attorracy'a Eep and entry upon the Property to make repairs. If I.endcr reyuircd mortgage insurance as a
<br />condition of malting the loan shirred t:y this Deed of Trust, Borrower shal3 pay the premiums required to mamtarn ,uch
<br />iaruratter Rn t(feu until such time as the requirttrteni for such insurance termmatea in accordance wuh 8orrower's and
<br />~r's~o tt~ un~ ~tag[a pl ~ rntw. Borrower shalt pay the amount of a:l mortgage insurance premiums ;n the
<br />Anp iunOWlt3 disb[rrsttl bypft[2-ender pursuanS to this paragraph ', with interest thereon, shalt iu~ome addrtronal
<br />ittdebtsdoeu of Borrower secured by this [teed of Trust, ll nless Borrower and lender agree to other icrnta ,:f payment, :uch
<br />amciunts shall Itt payt~ open notice from Ixnder to Borrower rt uesiir+
<br />data of dBbtiraetuent at fhe tale payahle from time to lime tin auistanding prnciputtundtt the,Ntsslehmllesa payrme tsofr eter~ t
<br />at such raft w'<xtld bt ion#rary to applicablt law, in which event ouch amczunts chat! hear in[ere+t at the h,ghest rate
<br />p+ermlaibh under appticahte law. Nothing a?ntained in this paragraph 7 shalt require l.rnder to incur any sxpeusc ear take
<br />any X ~ hereunder.
<br />ghat l.ttt#Ist}vexBnrtowerynvlict prior to any such i~nsper:ticrnbspecifying rt~arscnatsSr cause}€herct<,ra rPct ~tcc3f ~E , I r~nJrr :t
<br />intetettt in the; Pritoerty,
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