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<br />81--003403
<br />Utrtt*mttvt Covettartrr. Borrower and Lender covenant and agree as follows:
<br />- I' pstTtaeN of Pdtactpl and 1 rtttereat• BOra delete chaprgemaptlPwidedhn~the Nate, and thelprinc pal of and interest
<br />indebtedness evidenced by the Note, P P Ymen
<br />on any Future Advances secured by this Decd of Trust.
<br />i Faris tor'i'asas and It~e. Subject to applicable law or to a written waiver by Lender, Bortower shall y
<br />to Lender on the day monthly installments of principal and interest arc payable under the Note, until the Note is paid in ulh
<br />a sutra (herein "Funds") equal [o one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Dad of Trust, and ground rents on the Property, if any, plus one-twelfth of yeasty premium installments for hazard insurance.
<br />plus orte-twelfth of yearly premium installments for mortgage insurance, if any. all as reasonably estimated initially and from
<br />time to tithe by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Futta~ shall fx held in an institution-the deposits or accounts of which are insured or guaranteed 6y a Federal or
<br />state agency including Lender if Lender is such an institution). Lender shall apply the Funds to pa said taxes, assessments.
<br />ittwrattce premiums and ground rents. Lender may not cfiarge for so holding and applying the Funds, anatyurt$ said account
<br />yr verifying std compiling said assessments and bills, unless Lender pays Borcower interest on the Funds and applicabk law
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing a2 the tithe of czecutton 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 />requites such interest to be paid, Lender shall hat be required to pay Borrower any interest or carnin~s on 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 Ftmds was made. The Funds are pledged as additional security for the sutra secured
<br />by this Deed of Trust.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of razes, assesatnents, insurance premiums and ground rents, shall exceed the amount required to pay said taxes.
<br />assessments, imurance premiums and ground seers as they fall due, such excess shall 6e, at Borrower's optron, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. if the amount of [fie Funds
<br />held by Letdcr shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due.
<br />_~~~ _ ~~^,~„~~„~~._~.. t ~nrr.e sov amnpnt,necessarY to make up the,deficiency,wrthin 30-days from the date notice is mailed
<br />by Lender to Borrower regtresuttg payment thereof.- ._-~
<br />Upon payment in full of aft stints secured by this Deed of Trust, Lender shalt promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Property is sold or the Property +s otherwise acquired by Lender. Lender
<br />shat! apply. no later than immediately prior to the sale of the Property or its acquisition by L-ender, any Funds held by
<br />Lender at the time of application as a credit against the sums seared by this Deed of Trust.
<br />- 3. Ap~lintlert of pytneats. Unless applicable taw provides otherwise, all payments received by Lender under the
<br />Note and paragraphs I and Z hereof sha0 be applied by Lender first in payment of amounts payable fo Lender by Borrower
<br />- under puagraph 2 hereof, then to interest payable on the Note, then to th° principal of the Nate, and then to interest and
<br />- princepal on soy Future Advances.
<br />•. ~: Lies. Borrower shalt pay all taxes. assessments and other charges. fines and impositions attributable to
<br />ttte property which may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any, is the
<br />moaner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due. directly
<br />[o the payce thereof. Borrower shall promptly furnish to Lender all notices of amounts due under thrs paragraph, and in tfie
<br />event Borrower shall make payment directly, Borrower shall promptly' furnish to Lender receipts evidencing such payments.
<br />- Borrower shall promptly dicaharge any lien which has priority over this Deed of Trust: provided, that Borrower shall not he
<br />required to discharge any such lien so long as Borrower xhali agree in writing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith contest such lien 6y, or defend enforcement of such lien in.
<br />Iegaf pprocadings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5. ~ lewrattr' Borrower shell keep the improvements now existing or hereafter erected on the Property insu, _d
<br />_ against loss by fire, hazards included within the term "extended coverage". and such other hazards as Lender may require
<br />and itt such amounts and for such periods as Lender may require: provided, that Lender shall hat require that the amount of
<br />such coverage exceed that atrtount of cnverage required to pay the sums secured by th+s Deed of Trust.
<br />The imurance carrier providing the insurance shag he chosen by Borrower subject to approval by Lender: pmvideil.
<br />that such approval shall rat Fx unreasonably withlxld. .4I1 premiums on rsurancc policies shall be paid in the manner
<br />provided tinder parasraph 2 hereof or, if not paid in such manner, by Borrower :Waking payment, when due. directly to the
<br />imurance carriv.
<br />- AB imurance policies and rctxwals therm[ shall be in form acceptable ur Lender and chaff +nclude a standard mortgage
<br />clause in favor of and in form acceptable to tender. Lender shall have the right to hold the policies and renew;ra~ thereof.
<br />Borrower shalt give promptlraticeito the +mnu sheet c:+rrezraand I critdar.d Leniler may+make proof ortr loss a rah mrde pr..mptlY
<br />by Borrower.
<br />Unless Lender std Borrower athetivrse agree in wnt+ng, +nsurancc prxeeds >hall hr applied to re++orat+on or repa+r o
<br />the property damaged, provided such restoration ar seems is economically tea>tbk amt the security cf this Tked of Trust +>
<br />not thereby +mpaired. If stuh restoration or repa+r +x nut economically ~eas+bte or +f the actuary Wf th+s [ked of -I rr.>t wm+ld
<br />be impaired, the insurance proceeds shag be applied to the sums xcured by this [)eed of 'I rust, w+th the c~cess. +t any, paid
<br />to Borrower- If the Property is abandoned by Borrower, or if borrower lints to respond to 1 ender within 30 days from nc~
<br />date ttotitt is mailed by L.entkr to Borrower that the insurance canner alters to settle a cta+m for msurar+cr benefits, Lender
<br />is authorized to collect std apply the insurance proceeds at Lender's aptian caber ro resoratiou ar seems of rM_ Property
<br />or to the :txm soured by this Decd of Trust.
<br />Unless l.etidet and Borrower otherwise agra in wr+ting, any such application of proceeds to pr+ric+pal shall not extend
<br />or postpone the due date of the monthly imtallments referred to +n paragraphs I and ? hcreut ur change the amount ul
<br />such installments. If tinder paragraph ! ti hereof the Propene is acymred by Lender, all r+gfit. title and veterest of Borrower
<br />in std [o any insurance policies a[d in amt +o the ptaceeds thereof rrsulring from damage :u the Property pour to the sole
<br />or acquisition shelf pass to L.eitder to the extent of the sums secured by th+s DesYf of Trust +mnrediately pna+ to such sale Or
<br />acquisitioa. -
<br />d, Pr'Yltx'ali•a sad Maiaaeaaace of Property: Leaseholds: CatdoiaiYiYtsis; Plaaad UAit Uertd+up+reats. Borrower
<br />shall keep the Property n gaud report and shall not commit waste or permit irnpainnent ar do+p nxation of the Property
<br />sad shag cromply with the prov+siom at any lease if this (ked of Trust rs on a ieasehaid- It thi> Iked of Trtut +> on a un+t in a
<br />coorlotninititn cx a ptanrxd emit devekspmenL Borrower shalt perform alt of Borrower's obligations under the declaration
<br />or covettatYS creating or governing the condominium or planned urn development, the by-laws and regufation> of the
<br />condomiYwm or platuted umi developrtreni, and const+tuent dex-urnents. li a condominium ur planned unit development
<br />rider n executed try Borrower sad rtxorded together with th+s Eked of r rust, the wvenm+is ant; agrecntcnts of such rider
<br />shall 6e ittcarpotated into and shall amend and supplement the covenants and agreements aC rho lkeJ of l'rux :+s if the rider
<br />ereie a prrt hereof.
<br />7. psaleetisa d Itadets StxtuitY If Borrower tints to perform the covenants and agreertrenrs contained in this
<br />Dteed of Treat, or if any ac!ioA or procxeding is commenced which materially affects !.ender', intuest in the Property.
<br />inctuditsY. ben not Iimittd to, eminent domain, +ttsotvency, code enforcerrtent, ur arrangententa ar procceding> mvulving :+
<br />batiktttpt oc d+xakm. then Leader at L.erder's option, upwe notice to Borrower, may make such appearances, J+ahune such
<br />saittss and eke wch -etian as is naessary •u prota:t L,erider's interest, +nclud+ng. t+ut hat lim+tcd tu, duhurscnient of
<br />reasonable attorney"s fors and miry upon the Property w make repair. If 1 Order required mortgage inxiranec us a
<br />coaditian of making the loan secured M this Dad of Trust, Borrower shall pay tF+c pre+niunu required to rmm~tmn .uch
<br />- irutrtanct in effect until such time as the requirement for such insurance term+nates m accordance wuh Borrower's and
<br />- Lender's written agreement or applicabk law. Borrower shalt pay the mnount of alt +rtortgagc instirance premium> in tM_•
<br />moaner provided tintkr par sraph 2 hermit.
<br />Arty itY(wnU disbursed by l,etder pytsuani to this paragraph 7, wuh interest thereon. shall became add+uunal
<br />i nesa of Borrower seared Icy this Dad of Trust. Unless Burrower acrd 1 ruder agree to other terms of payment. ,uch
<br />- amounts shall fx payable upon natrcc leom Leittkr to Brxrowcr rcyttesting payment rfiereof, and shatlt!eat interest iron the
<br />date of disbutaetnent at the rate payable from tittte to tithe on outstanding principal under the'Votr unless payment of interest
<br />ai atseh rate wautd bo contrary to sppl+cabk law, in which event such amounts shall hear interest at the h+ghcst raft
<br />ptrtttiss'tble tender apptjcabfe law. Nothing ccmtained in th+s paragraph ? shaft require I..ender to incur any expense or take
<br />any actiaa Iseretirtdar.
<br />i. is~ea4isn, Lender may snake tit cause to be made reawnable entncs upon and msprr tuns of the Property, pr.~videvi
<br />ttwt lxttder shall slue &trrawtr rmtice prior to auy such inspection specifying rcasanable ratue tfterefar relarecf u. f ender'S
<br />{tit$ra{t #n the PraosnY.
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