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<br />UNtt=tne~t CovetvAr+rs. Borrower and tender covenant and agree as follows: 8 ~ - (} ~ 3 4 r ~,
<br />!. hymeef o[ M[tcipl and Interest. Bottowcr shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and Tate charges a, provided in the Nnte, and the principal of and interest
<br />on any Ftuure Advances soured by this Dced of Trust.
<br />2. tlrntttds Nr 7ittea and llrtmance. Subject to applicabk law or to a written waiver by Leader, Borrower shalt pay
<br />w Lender on the day monthly ittstaltments of principal and interest are payable under the Note, until the Note is paid in fill,
<br />a wen (heron "Funds") equal to oast-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Deett of Trost, and ground rents on the Propttty, if any, plus one-twelfth of yearly premium installments for hazard insurance.
<br />plus tine-twelfth of yearly premium installments for mortgage inwrance, if any. all as reasonably estimated initially and from
<br />t'ttix to titre by Lender tin the basis of assessments and bdla and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits nr accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an inuiauion). Lender shall apply the Funds to pay said taxes, assessments.
<br />imtrrance ptemitmts aitd ground rents. Lender may rat charge for so holding and applying the Funds, analyzing said arcounf
<br />rx vttifying and campiGng said assessments and bills, unless Lender pays Bprrowtr interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time rat execution of this
<br />Deed at Trost that interest on the Funds shall be paid to Borrower, and unless such agreement is made ar applicable law
<br />requires such interest to be paid, Lender shad not be required to pay Borrower any interest or earnings nn the Funds. Lender
<br />shalt girt to Borrower, without charge, an annual arcmtming of the Funds shayvtng credits and debits to the Funds and the
<br />purppfe for which each debit to the Funds was made. Tht Funds are pledged ac additional security for the sutras secured
<br />by tMs Dted of Tr[rst.
<br />If rlit amount at the Funds held by Lender, together with the future monthly instalments of Funds payable prior to
<br />the due darn of taxes, assessments, insurance premiums and ground rots, shall exceed the amount required in pay said taxes,
<br />asstssmenb, itsurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited ro Hnrroater nn monthly installments of Funds. !f the amount of [he Funds
<br />held b'i t.ertder shat! not be sutbcitm to pay taxes, assessments. imurance premiums and ground rents as they fall due.
<br />Bottower shalt pay to Lender any arttotmt necessary to make up the deficiency within 30 days from the date notice is mailed
<br />loo t .,ut.r an rrnrmexr rmueuina nHV[OGIIt thereof.
<br />Upon payment in full of alt sums secured by th+s dot trust, Lender shalt prnmpuy retuno to orrower any un s
<br />held lay Lendtr. If under paragraph f 8 hereof the Propeny is sold or [ht Property is othzrwise acquired by [.ender, Lendtr
<br />shalt apply. rw later than immediately prior to the sate of the Property or its acquisition by Lender, any Funds held by
<br />Lendtr at the time of application as a credit against the sums secured by this Deed of Trust.
<br />3. Ap~lieaffoa of Paytsenrs. Unless applicable taw provides otherwise, al! payments received by Lender under the
<br />Note and paragraphs t and ?hereof shaft F,e applied h}• Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable nn the Nate, then in the principal of the Notc, and then to interest and
<br />principal on any Future Advances.
<br />4. Charges; Lkas. Borrower sha8 pay alt taxes, assessments and other charges, fines and impositions auributabie to
<br />the Property which tray attain a priority over this L3eed of Trust, and leasehold payments or ground rents. if any, in the
<br />manner provided under puagraph 2 hereof or. if not paid in such manner. by Borrower making payment. when due, directly
<br />to the payee thereof. Borrower shall promptly furnish to 1_ender all notices of amounts due under this paragraph, and in the
<br />event Borrower shall make payment directly. Harrower shalt promptly furnish to (.ender receipts evidencing such payments.
<br />Harrower shalt promptly discharge any Ron which has pnarity over this Dted of Trust: provided, that Borrower shag not be
<br />required to discharge any such lien so tong as Harrower shall agree in writing to the payment of dte obligation secured by
<br />such Tien rn a manner aceep[abk to I_eoder, or shall in good faith contest such hen by, or Jefend enforcement of such lien in.
<br />legal ¢rt~~t~ which operate to preve.;t the enforcement of the Tien or forfeiture of the Property or any part thereof.
<br />5. 1laarste. Borrower shall keep [he tmprovemtn[s new ex+sung or Hereafter crtcted on the Property insured
<br />against loss by fire, hazards included within the rerm "cxtertdtd cuveragc'". anJ such ether hazards .:s f.;:nder may require
<br />and in such amounts and for such penuds as Lender may reyu+re: prnr+dzd. [}tat Lender shall nut require that the amount of
<br />such coverage exceed that amour[ of coverage required to pa} the sums secured h}~ this Dee6 of "!nest.
<br />The inaaranre carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, prav+ded.
<br />that such approval shat) cwt be unreasonably withheld. All prcmtums oo insurance politics shall Ile paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renews{s thereof shall he in form acceptable to Lender and shall include a standard mortgage
<br />clause in faror of and in form acceptable to Lender. Lendtr chaB hate the nght to ho1J the policies and tenewats thereof,
<br />and Borrawtr shalt prampdy famish to I.tnder s?I renewal notices anJ :dl rote+pts of patJ prtmiums. In the event of loss,
<br />Borrower shad girt prompt notice [n the msttrantt carnet sod Lendtr Len.ler may mike proof of toss if nut made promptly
<br />by Borrower.
<br />Unkas Linder and Borrower otherwise agree in ..rung. ~nsurancc pra?ceeds shad he applied to restoration or repair of
<br />the Property damaged, Provided such resusrahon ar repair ~s tconemrs:ally feasible and the security of this Deed of Trust +s
<br />ntx thereby impa+rtJ. if such rntorauan ar repair is nut en,namicatty fersible or rt the secur+[y of this Deed of Trust would
<br />be impaired, the insurarxe prcreeds shall be applred to the suns securtJ by this Peed of Trust, with the excess, if any, paid
<br />to Borrower. If the Property +s abando[uJ by Htirruwtr, air it Harrower talc m respond to Lender within 30 days from flit
<br />date ratite is mailed b}' Let>i{er to Borrower chat the nuurance earner otters to settle a ttatm for insurance t±enefits, Lender
<br />is authorized to cotkct aad apply the inwran.:e ptas:ttds at Lettdtr's optti<sn tither [o res[ora[ion or repair of the Property
<br />w to ttte sums secured b (till Deed of True
<br />Unless (.(odor aed t~rrowtr sxtttrwist agrce +n v:tittng, an} stilt application of practids to prinrpat shalt not txtertd
<br />or poatpo€[t slit due date of the monthly installtntnts referred to m paragraphs t and ?hereof nr change the artwunt at
<br />such tnstalltnents. !t under paragraph 1 tl hertul the Property n acyu[rtxl by Linder, all right, title and interest of Borrower
<br />in and to any itnsurance polrctes at[d m anJ to the proxectr iheseoi resulurig from damage to [he Property prior to the sate
<br />or xyuisrtion shall pass to Lerxkr la the txttn: of the sums uturtd by this Deed of Trust immediately prior to such sale or
<br />acquisition,
<br />_ 6. Psatrvtatlnn and Maiteaaact of Property; Lrasehotdx L'ond+aeniuiams; ('Ironed Unit Developments. Borrower
<br />shalt keep the Proper} in gaxs.l rcparr anJ .}call no[ canto+i[ east( :~t txrnut impairment ur deterioration of the Property
<br />and shalt comply with the provisions of any base if then fked of Trust iz on a leasehold. It this Deed of T-rust is on a unrt in a
<br />condominium nr a planned unit devt?apnttnt. Borrower shall ptilornt alt of Borrawtr's obligations under the declaration
<br />or rnvettants creating ar govtrning the cundc:m:mum nr punned untt development, the by-taws and rtgulations of the
<br />condominitun or planned unit devttapmrnt, and tansutuent dacumtnts. If a condominium or planrted unit devttopmem
<br />rider is txeeuted by Borrower and retarded together with this fhtJ of Trttst, the covenants and agreements rat such rider
<br />shalt hz incorporated into and shall amend and supplement the custnants and agretmtnts of this Deed at 'i~ruyt as i( the riJer-
<br />were a part hereof.
<br />7. Pii>oicrtlnn art header's stearlty. !f Borrower falls to perform the covenants and agreements contained in this
<br />Dad of ?rust, ar- i# any action or proceeding is commenced which maieria{ly atfttts Letsder's interpi in the Property,
<br />ir~ludtng, but t+X liarited to, eminent domain, insolvency. code enforcement, or attangemertts nr prattedings involving a
<br />bankrupt or dr cedeny then Lender at l.xndtr's option, upon notice to Barrowzr„ may make such appearances, Disburse such
<br />soma and tak: such action as is ntt:essary to prate(( Lender's interest, ine{uding, but not limiteel to, disburstmtnt of
<br />raasppablc altornt}r's tees and entry upon the Property to make repairs. Lt L,endzr required mortgage insurance as :+
<br />condition ai mal<itig the loan secured by this L)eed of Trust, Borrower shall pay flit premiums required to maintain such
<br />insurance in eQecE anti! such tint( as the requirement for such insurance ttrminatew in accordance with Aarnswer's and
<br />L..ek>~St"s vrtittCU agrettntnt or applicable -taw. Borrower s2tatt pay the amount of alt rortgage insurance prenttums in ttu
<br />tmuo[fer provided tendon pat'agi'aph 2 hereof.
<br />An~y anwunts disbttrxa{ by Leader pursuant to this paragraph 7, watt interest [htrtms, attaA txcome additionat
<br />ttidahtad~ss of-Borrower xcured by this Decd of Trust. Unless Harrower and Linder ogre( to other terms al pavmenL such
<br />amaunfat .(soft be payable upon rwticr Pram Lendtr to &yrrower reytrrsting ps}°ment thereof, and shall tzar interest Eram the
<br />data iii d1~11fe914nt al flit talc payabk from time w tint( ati vutskanding prinnpal under the Nate unless psymtnt of interest
<br />at-writ. raft would be roniraty to applicable law, in which event strrfl amounts shalt bear interest at the highest rate
<br />pt9renifTiltio ttztder applicable taw. Nothing co»tained in thtx patagcaplt 7 shall require Lender to irt:-,ur any expense [sr take
<br />any actttm hercuader.
<br />- H. ~ Liaudcr may [stake rat cattle to ise made rtasanabit entries upon and mspeci+ons of [rte Prapcny. pr,vidcd
<br />that L..tndtC fluff! govt Borrower nati4e prio> to any stash inspection xpe.;i°fying teasanat±k (oust thcrefnr rotated to 1-endtt's
<br />ineetsatt in the Proacrty.
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