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<br />[7trtFOaxt Cavetsatvrs. Botrorver and fender covenant and agree as follows: ~ ~ ~J ~>" ~ 3 ~ Q
<br />t. Fgyetaet d» attd ittterdt. Borrower shaft Promptly pay what dtie the principal of and interest on the
<br />indebtodneas evidenced by the Note, ptapaymrnt and late charges as provided in the Note, and the principal-of and interest
<br />on an Futwe Advances sxtired bq this Deed of Trust.
<br />3. Feats ~ Ts~-nerd )thee. t to applicable law ~ to a written taaivs by Lender, Borrower ahitFl pqr
<br />to Larder on the day monthly installmrnts of principal-std interest arc payable-under the Note, until the Note-is paid. in fuU,
<br />a sum (herein "Fura~") equat to one-tweiftlt of rise yeatfy taxes and assessments which may attain priority- over this
<br />ik~ of Trust, slid ground trnts on the Property, if any, plus one-twelfth of yearly-premium irtstallmrnts for hazard-rnsuranrae,
<br />plus otta•twdith of yeatiy premium installments for mortgage insurance, if any, all as reasonably estimated initially and f-orn
<br />time to dine by Lads on the hots of assessments and hilts and reasonable esttmates thereof.
<br />The Funds shall be held in an institution the deposits or accamts of which are iretued or guazanteed by a.Fedaral or
<br />state agency Cncluding. Lerdee if L-ender is such an ittstitMion}: Lender shaft apply the Funds to pay said taxest.af~fessmetus.
<br />ihs!~attca pretnituns std ground rents- Lender may riot charge for so holding and applying the Funds, attalyzingssid accotmt
<br />or verifying and rxmpifing said asnxstnrnta and bills, unless Lender pays Borrmver interest on the Funds sent applicable law
<br />pemnits Lender to make such a charge. Borrower and- Leger may agree in writing at the time of execution of this
<br />Deed of Trust that intenat on the Futrds shelf be paid to Borrower, and unless such agreement is made or applicable taw
<br />requires such intadt to be paid, Lender shat) not be required to pay Borrower any interest or carnin~ on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and ekbrss to 11te Funds and the
<br />purpose for vrhich each debit to the Funds was ttaade. The Ftmds are pledged as addi[ansl security for the suttts attxtttted
<br />by this Deed of Trent.
<br />if the-attwstat of the Futtds held by Lender, together with the future roonthiy insatlments of Ftaxls payable prior to
<br />the due dates of taxes, assessmend, irtsunttee premiums std ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, iffittratta premiums and ground rrnts as they fait due, such excess shall be. at Borrowers option, either
<br />Borrows shag pay to Lettds any amount necessary to make up the deficiency within 30 days from the date nonce is mauea_
<br />by Lender to Borrotrs tagttestittg payment titateaf.
<br />Upon payment in foil of ail srims secured by this Decd of Trust. Lender shall promptly refund to Borrows aoy Funds
<br />held by Lender. (f under pazagraQft 18 hereof the Property is sold or the Property rs otherwise acquired- by Len[kr- Lender
<br />shalt apply, rro tats thaw iinatedtatdy prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Lender at the tittle of application as a credit agaittsi the sums secured by this hied of "f rust.
<br />3. Ap/ikalfar of Aymu. Unless applrcabte law provides otherwise, all payments received by Lender under the
<br />Note and paragrapphs t and Z hereof shall rte applied by -.ender first in payment of amounts payable to Lender by 3ortower
<br />urtt~r paragraph 2 hereof, then to intetcst payable on the Note, then to the prittcrpal of the Note. and then to "interest and
<br />principal on any Fmute Advattrxs.
<br />t Crtage~ Lieat Barn+wer shalt pay at! taxes, assessments and cxher rhargts. fines and impositions attributable to
<br />tbs pmpertg which may attain a priority over this Ikea of Trust, and leasehold paymems or ground rents, if any, in the
<br />manner provided under paragraph 2 hereof or, if trot paid in such manner, by Borrower making payment, when due, directly
<br />to the ppaayee [hereof. Borrower shall promptly furnish to Lender alt novices of arnoirnts dtte under this paragraph, and in lire
<br />event Borfotrer shall trtake payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrows shall promptly dischu~e any lien which has priority over this Deed of Trust: prov+deJ, that Borrower shat( raw frc
<br />required to dachatge any such Iten so long as Borrower shall agree in writing to the payment of the obhgatinn secured try
<br />such lien in a manner acceptable ru Lrnder, or shall in good faith motes[ su:,h hen by, ur defend enforcement of snrh lien i
<br />legal oceedings which of-'zle ro prcvrnt the enforcement of the lien su torfeiwrc of the Property or any part iherrnf.
<br />Bltaswi Ysnsrt~ee. Borrows shalt keep the improvements now exrstrng or hereafter erected on the Property insured
<br />agairut toss by fire, harards ixtuded within the term "extender( coverage", soil such other hazards as !.ender may require
<br />std in such atttouots aad for such periods as Lender may require: provided, that Ixnder sfiall not require that the amount of
<br />such covera8e exceed the! amatot o[ coverage required to pay the sums securM by tfirs Deed of Trust.
<br />The umrrtrnce carrier providing the insurance strait be chosen by Borrower subtest to approval by Lender, provided.
<br />thu marlr appro !shalt trw be tenreasonably withbeM. Alt premiums on insurance policies shall tx paid in the mantes
<br />ttttda va~ragnpb 2 fteroof or, if not paid in stuh means, by Sortower snaking lmYment, when dtte, directly ta the
<br />utwtrar+tt earrset.
<br />AB ittsiarattce policies and rciatwais thereof shelf tic to form acceptable to Ixnder and chaff ittClt,de a standard mortgage
<br />douse in favor of attd in farm a ~ptabk to I.en.4r. Lsrrder shad have- ettc nght to hued the polecies and rerrewais thereof,
<br />attd Borrower shag prosaptfy faro' It to Lender a!! renewal nwu:es and ail rcc~+pts a( pa+d premiums. (n the ercnt of loss.
<br />Borrower shall give prompt nrrtice to the rnsurarxe carrier and Lender. Lender may make proof of Itxss if raw made promptly
<br />by Borrtrsrer.
<br />Unless Leader and Borrows otlserwiae agree in writing, insurance proceeds shall t+c applied to restoration or reparr of
<br />the Property damaged, provided such restoration or reparr +s ixorwm+caU}• feasible and the security of this Deed of Tn+st is
<br />trot thereby impaired If such tneoruion w repair is rem economically Feasrbte or ri the security of flits feed of Trust vrould
<br />bt ittaprired, the ittsurattr-e pmcxeds shelf rte applied to thr sumx satuod by thix t)ced of !'rust, with the excess, rf any, paid
<br />io Borrowe-. If the Property n abatidonal try Borrower. or if Bwrows fails to respurrd w Lender witMn 30 days from the
<br />data ttttiiea is taaikrxl by Lender to Borrower that the rnwrartce carrier offers to seuk n claim for insuratce trerrefits. 1_entier
<br />is authtxized to eolttct and apply the ittsttrattce proceeds at Lerplee's option ether to restoration or repair of the Property
<br />or to the sums secured by this l~aCd of Trwt.
<br />Unless Larder std mower otherwise agree rn writing, any such appltcauon of proceeds to principal shall not exteml
<br />or pone the due date of the mcmtbly installments :eferretl to in paragraphs t amt 2 hereof or change the amoum of
<br />such-ittstsBments. If tatdat paragnp~t It; isaraut the Property ra acquired by Larder, sit nght, title and interest of Borrower
<br />in and to any itaruratttx policies and m and to the proceeds thereof resulting Irom damage to the Property prmr to the sale
<br />or atquisition shelf pass to Lander to the extent of the sums xcurai by flier Decd of Trust rmntedia[eiy prror to such sate car
<br />PsaavsaYart std Itfaistdra~ce d Praptrty: t.eaaehal/a; Cardaiaiai+ars; tf'haaed Usk Derelopsaeets. Burrower
<br />shall keep the Praptrty rn good repair ern( shall +rw icunm+r w. astr su pcrnrrt rmpa,noarE wrr drteriorauoo of [he Property
<br />std shall comply with ate provisituK of any tease it this f)¢cal of Trust rs an a leasehold. II this [leaf of Trust is an a amt m a
<br />condatttiniutrt or a planned unit devebpntent, Borrower shalt pcdorm all of Bnrrt>wer's nbligaticvts unrkr the dtc{aration
<br />of mvenann creating or governing the cwttimmnium cu p(arrr:tai un+t development, the by-laws amt regulations of the
<br />~t or p{aoced unu drtvelopettent, aril constituent doa:umcMS. tf a cerrdominium or planned unit dcveloprtKnt
<br />rider is eaeeniad b}' Borrower and recorded togaher w+th flits Eked of t-rust. the covenants and agreemxnts of xuch rider
<br />sltdl bo incorporated info and shalt amend and supplnrtertt the covenants am( agreements o! rh,s Cked of Trust as if the ndcr
<br />waro a parE htttaot.
<br />7. }RtgrtNse of I.uriv's Bac~ity. }t Borrower farts to psform i.n cuvntants erne! agreerrserrts contained in this
<br />f)fad of Trop, a< if any action or pre -`mg o cutntnenctd wlth:h maitrraily aAecis l.eniler's rMCeest rn the Propert},
<br />Met trot krnitad to, aninati ss., n, ituofrcncy, coda enforcetrtrnt, rx arrangements tit pnxced+ngs rnvalv+ng :r
<br />haktNpl ~ decedem, than Leatdp at J_ender's option, upon notice to Boreixwer, may rrrake such appcaratrc€*.• drshurse +sy:h
<br />stems std take srselt actiost as is netxnary to protect l.emier's interest, im;ttding, tall trot i+mttaf tc. drsburvetrreos of
<br />raeoaaitQk rtttotney's fop aed awry upon the Properly eo make repairs- If lxndtr reyrnrrd rrwregage rnsura,s.e a, a
<br />Ccoditian d ttrakiaR Efts loan secured try tins Deed of Trtnt, Borrower shall pay the prenuWt» required to rnatntarn ,uch
<br />i io asst lentil strtdt time at t raquiratrerttt for stxh intwartcr termertatcti <n acccudancc with Bnnower's arrd
<br />LAgdp`s srFiHsn ag7aaaaaei a appkcabk law, Bonower shalN pay the amount of alt rrwrtgstte rnsurarx;e premrunrs rn the
<br />truuttrtu prrrvidad tt pratt~r ?hereof.
<br />k tpttpatW de~,Enaed atry~f.ander pursuant to tftis paragraph 7, wah rntcrest ittera+n, shat( t,ecoms addiucnat
<br />iadtNtpa of BiArra4+ai aactNed hY this Dead of Trust. t3nless Borrower and Lcttder agree tc tttlrer ternrs o[ payment, nucft
<br />atttotttNa s#ftsll bs peyabis upon twtee from [,attler to Borrower requeurng pa}nx+tr tteerav+f, and shill tsar m~rmt in+m the
<br />dt~aer[ra0a9ap at the iota payable tram liasR in time an nukslanrfing prirts ipaf under the Nova unkys paytttent of interrest
<br />~ such fah wttdd be contrary to applicsbla law. in which Brent atrch amounts chaff (rear ert;erext at -the highest rate
<br />~ tipdtrr applicable bw, :gOtldng contaittad in this paragraph ~ shad require Ixrtder to itteut any expense or take
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<br />1~tI11Bteflew, l.Rarder tray tt4ha rsr muss tb bs made raasurt+tbie mines upon araf inspettiunx o{ the Property. prc+vidcd
<br />flan t,andas akalf giara Botrowar natica prier to any smch irrapnt:tian stracifyitig reastxtahk catrx tlrercfur related x+ t.ettdcr's
<br />islalrarl-i& tics Praats-v.
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