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r Utvteewezt Covetvnwrs. Borrower and Lender covenant and agree as follows: ~ ~ - t) () 3 4 X31 1. rRl"~t xtt Prieclea0 and Gttereet. Harrower shall promptly pay when due the principal of and interest an the indebtedness evidenced by the Nou, prepayment and late charges as provided in the Note, and the principal of and interest on any Future Advances secured by tfiss Deed of Trust. I. 1Padt ter 11is trtd Itsaertnce. Subject to applicable law or to a written waiver by Leutter, Borrower shat) ny to Lender on the day monthly installments of principal and interest arc payable under the i=.lofe, until the Note is paid in f ell. a sum (herein "Futtdx") equal to ottc twelfth oP the yearly razes and assessments which may attain priority over this Deed of Trust, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance. phrs one-twelfth of yearly premium installments Lor mortgage insurance, if any, all as reasonably estimated initially and from titre to tierce by Lem3er on the basis of assessments and bills and reasonable esnmates thereof. The Fwtds shall be held in an institution the deposits or accounts of which are insured or guarantced by a Federal or state agency (including Lender it tender is such an institution). Lender shall apply the Funds to pay said taxes, assessments. ittsurarrce premiums and ground rents. Lender may trot charge for sa holding and applying the Funds, analyzing said account or verifying and comp8ing said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law permits lender to make such a charge. Borrower and Lender may agree in writing at the time of ~execu+ion of this Decd of ;rust that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law requires such interest to be paid. Lender short not be required to pay Harrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an.annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Iced of Treat. tt 4he amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the dire dates of taxes, assessments, insurance premiums and ground rents, shall ezeeed the amount required to pay said taxes, ' assessments,` itsurance premiums and ground rents as they call due, such excess shall be, as Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds held by Len~r shall oat be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due. Borrower shall pay to I-titder any amount necessary to make up the deficiency within 30 days from the date notice is mailed ___ 4. i .,.L. ,... 6~~.....~_ ~~... ____ ~ ~~ _ Upon payment in full of alt sums secured by this Deed of Trust. Lender shall promptly refund to Borrower any Funds littd by Lender. If under paragraph 1$ heron( the Properly is sold or the Property is otherwise acquired by Lender. Lender shall apply, no later than emmedtately prior to the sale of the Property or its acquisition by Lender. any Funds held by [.ender at the time of application as a credit against fhe sums secured by this Deed of Trust. 3. Appttcatioe of Payments. Unless appbcable law provides otherwise. all payments received by Lender under the Note and paragraphs ]and 2 hereof shalt be applied by Lender first in payment of amounts payable to i_ender by Borrower under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and principal on any Future Advances. 4. Charges; Litres. Harrower shall pay all taxes. assessments and other charges. fines and +mpovtiorts auribu[abte to the Property which may attain a priority over this Dced of Trust, and leasehold payments ar ground renu. if any, in the manner provided untitr paragraph 2 hereof ar, if not paid in such manner, by Borrowee making payrtunt, when due, drrecdy to fhe payer thettof. Borrower shall promptly furnish to Lender all nofices of amounts due under this paragraph, and in the event Harrower sfiaB make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrower shalt promptly dixharge any lien which has pnority over this Deed of Trust: provided, that Borrower shalt not tx- rtquircd to disthatge any such lien so long as Borrower shall agree in writing to the paymem of the obligation secured by such lien in a manner acceptable to Lender, ^r shall in good faith contest such lien hy. or defend enhreement of such lien m. fegai ppraettdings which operate to prevent the enforcement of the lien or forfeiture of the Property ar any part thereof. 5. litarard Irmuraree. Boaower shall kelp the tmprovcments now exts;ing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended cavcrage~. and such other hazards as Lcndtr may require and in such amounts and for seen periods as Lender may regwre: provided. that Lender shalt not require that the amount of such coverage exceed that attwuni of coverage required to pa} the sums secured by this Deed of Tnrst. The insurance carrier providing the insurance shalt fie chosen by Borrower subject to approval by [.ender: pravtded. that such approval shall not be unreasonably witfificld. Ail pttmiunts an insurance policies shalt ere paid in the manner provited r puagrap6 2 hettof or, if not paid in such mantrer, by Borrower making payment, when dtrc. directly to the insurance carrier. Afl insurance policies and renewals thereat shall be m Corm accepiabte to Lender and shall include a standard mortgage ~latist in favor of artd in form acceptable to 1_rnder. Lender .Mall have the right to hold the policies and renewals thereof. and Horrowxr shall pranpily furnish to 1_ender all rcrtesval cauticev and all receipts of paid premiums. In the even of Inns. Borrower shall give prompt notice to ttte insurance carntr and Lertdtr. Lender may make prtwf of lass it not made promptly by Borrower. Unless Lemke amt Borrower atherwrse agree in urutng.:nsurance prtueeds shall tin applied to rcytaration or report of the Property damaged, provided such trsiorattoo ar repair is ecottamrcalty feasible .end the security at this Deed of Trust rs not thereby impaired. If sash testaratran or report is row etsmwnically fgascbk ar el the security of this Deed of T-coat would be impaired, the ittwrance prateeds shall Ix applteat to the sums se:ured by this Deed of Trust. with the excess, rf any, patJ to &utower, if the Property is abandorxd by Bwrawer, ar it Borrower fails to respond to Lendec within 30 days from the date notice is mailed by i..~tdtr to Borsower that the iasuratxe caterer offers to settle a claim for insurance benefits. l.emkr is authorized to collect and apply flu inwratu-r pracarLs at Ltrtdtr's option tuber to restoration or repair of the Property or to the st:ms secured by this Iked of Trust. Utttesx Leader and grower otherwist :rgra to wrrttng any such application of proceeds [o principal shalt nw exund or postpone the dire clue of the matrthty installments referred to m paragraphs 1 and ~ hereof or change the amount of su~hh installments. if trotter paragnph l X hereof the Property as acywrtd by tender, ail right. title and- interest of Borrower in and to any insurance polities and m and to flu proceeds ihercot resulting tram damage to the Property prior to the sale or acquisition shall pass to t.tntier to the ezum cH the Burns aecurtd by this Deeef of 'trust immediately prior to such sate ar acquisition. 6, psaervatloa awd Maieltaaxt of Ptroperty; Leaseleid-: t:oadomisiumc: Ptaeaed Uait Devebpattots. Borrower shall keep iIN: Properly in gaud repair and shall oat c=numrt waste .~r Ixrnut impauntrnt or deterioration nl the Property •end shalt totttply with the provisions of any lease if this T?ced of ~f7ust cs on a teaatfiold. if this Dtxd of Trost is an a unit in a condominium or a planned unit development, Bart~wer shaft perform eft of 8orrowet's obligations under flu declaration ar covtuattts creating ar governing the candortunmm or plaerntd unit deveiopmtni, the by-law's and regulations of the coadaminium or planned unit development. and constituent docunrcnts. If a etridominium ar planned unit development rider is executed by Borrower and recorded together witfi this Lked rl l nest, the cavenams and agreements of such rider shalt fie ituorparaud into sad shall amend and supplement the covenant, sad agreertitnts of this Decd of Trust as if the rider wort a putt hereof. 7. t?4etettigta of [,cadet's Security. If Borrower tails to perform the covenants and agreements contained in this DEed.of Trust, or if-any action ar proceeding is camntenced wfiich materially affects Lender's interest in the Properly. including, but oat limited to, eminent domain, itisolveoc}, code entarceriient, ar atrangetntnts or proceedings itrvotvcng a bankrupt or decedent, then Lender-at Lender's option, upon notice. to Borrower, may ?ake such appearances, disburse such sterns. attd taste such action as is necessary to protect Lender's interest, including, but not Limited to. disbursement of rtatonabtt atttxitey's fees and atury upon the Property to make repairs. If tender rcyuired mortgage: insurance as a ' titian of ma~itag the loan secured by this t~ri of Trust, Borrower shall pay the premiums rcyuired to maintain such insuratrtx is Meet itntit such time as Liu requirement for such insuratxe terminates m accordance with Borrower's and l~dub wtiltt>n agreement or ttpptxabk law_ 8ocrowtr shall pay the amount of all mortgage- insurance premiums in the rtrdrtoer ps~rnridtal under parttgrttph 2 hereof. _ My atntwnls disbursed by I.tadtr purwaat [a this paragraph 7, with interest thuean. shall fxeame additional it>x4~s o(.)rlotroa;ar scrsted by tfiis Deed of Trust. Unles- Harrower and Le:.der agree to other tcrrtts of payrrient, Beth atfttruttts tr~ralt fie payable upon notrcc frt}m Lender to Borrower regitestiug payment thereof, and shall bear interest Pram the date sit difhurae7nept to tlrc rate payable from time to tune on outstanding principal under the Natt utlless payment of interest aE such ride wand bt contrsry• to applicable law, in which event such amounts shall bear interest at the fiighest rate pea~p_usrcker applicable law. Nothing contained in this paragraph 7 sfiall require Linder to incur any expense or take ~< ~ Lender taay [Hake or cause to be made reasonable Cntriex ftpan and inspections of the Prer}xrty, provided that t.tndsr shat! grva Borrower notke prior to any such iiisptcGon specifying reasanabk cause therefor related to Lender'. interett fin thx Pcoe~ty.