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<br />81-utj36~?
<br />UtVIFOaM a:JoveNatvrs. Borrower and Lender covenant and agree as follows:
<br />i. Payntant o1 PriatiPal and Interwf. Borrower shat! promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on anyy Future Advances secured by this Deed of Trust.
<br />2. Faada tin Ta:ea utd irtsarsncc. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Linder on the day monthly installments of prindpal and interest arc payable under the Note, until the Note is paid in full,
<br />s sum (herein "Fundi') equal to one-twelfth of the yearfy taxes and assessments which may attain priority over this
<br />Dr~d of Trust, and ground rent: on the Property, if any, plies one-twtlflh of yearly premium installments far hazard tpsur:rice,
<br />plus onrtwelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and Pram
<br />lime to time by Lender on the hula of asseuments and bills and reasonablc estimates thcreof.
<br />The Funds shall be held in an institution the deposits or accounts of which arc insured or guarameed by a Federal or
<br />stale agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments.
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits fender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Decd of Trust that interest on tht Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not bt required to pay Borrower any interest or carnin~s on the Funds. Lender
<br />shat! give to Borrower, without charge, an annual accounting of the Funds showing credits and debris to !fie 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 Dttd of Trust.
<br />If the'amaunt of the Funds held by Lender, together with the future monthly installments of Fiends payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes.
<br />assessments, insurance premiums and ground reins as they fall due, such excess shall be, at Borrower's option, zither
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. if the amount of the Funds
<br />held by Lender shop not be sufficient to pay taxes, assessmems, insurance premiums and ground rents as they fall due.
<br />Borrower shalt pay to Lender any amount necessary to make up the deficiency within 30 days from the dale notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon paymeet in full of all sums secured by this Dttd of Trust, Lender shall promptly refund to Borrower any Funds
<br />held by Lender. if under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender. Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Lender at the time of application as a credit against the sums secured by this Decd of Trust.
<br />3. Application of Payments. Unless applicable law provides otherwise, all paymenu received by Lender under the
<br />Note and paragraphs !and 2 hereof shat! 6c applied by Lender first in paymeet of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principa( of :bt Nore, and then to interest and
<br />principal on any Future Advances.
<br />4. Charges; Liens. Borrowtr shall pay all taxes. assessments and other charges. fines and impositions miributable at
<br />the Property which may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any, in the
<br />moaner provided under paragraph 2 hereof or, if not paid in such manner, by Borrowtr making payment, when due, direct!/
<br />to the payee thtteof. Borrower shall promptly furnish to Linder alt notices of amounts due under this paragraph, and in the
<br />event Borrower shall make payment directly, Borrower shall promptly furnish to Lander receipts evidendng such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Deed of Trust; provided, that Borrower shall not tx
<br />required to discharge any such lien so long as Borrower shat! agret in writing to the payment of ;he ob:igmion sccwed by
<br />such lien in a manner acceptable to Lender, or shalt in good faith contest such hen 6y, or defend enforcement of such lien in.
<br />legal pproceedings which operate to prevent the enforcement of the lien or forfemire of the Propeny or any part thcreof.
<br />S. Hasard fasuraaea Borrower shall keep the improvements now ex,strng or hcreaf[er erected or. the Property insured
<br />againstioss 6y fire, hazards inc':_'.d within the term "extended coverage", and such other hazards as Lender may regrure
<br />and in such amounts and for such periods as Lender may require; provided, tha; Lender shall not require :hat the amount of
<br />sorb coverage exceed that amount of coverage required to pay the wins secured by this Deed of Tnrt.
<br />The insurance carritr providing the insurance shall be chosen by Borrower Subect to approves! by Lendcr: provided.
<br />that such approval shall not tx unreasonably withheld AI{ premiums an insurance policies shall be paSd in the manner
<br />provided under paragraph 2 hereof or, if not paid m such manner, by Borrower making payment, whin dot, directly to [he
<br />ituuraace carrier.
<br />All insurance policies and renewals thereof shat: tx m form acceptable to Lender and shalt include a standard mortgage
<br />clause in favor of and in form acceptable to Ltnder. Ltnder shall have the right~ta hold the policies and renewals thereof.
<br />and Borrower shalt promptly furnish to Lender all renewal naucts and al! receipts of paid premwms. In the even; of loss.
<br />Borrower shalt give prompt notice to the insurance carrier and Lender. Ltnder may make proof of ?ass if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in wnrng, insurance proceeds shah bt applied to restoration ar repair of
<br />the Property damaged, provided such restoration or repair is tconom,calfy feasible and the stairity of this DttJ of Trust is
<br />not thereby impa+red. tf such restorahon or repair is not economically feasible or .f the stccray of this Dced of Trust would
<br />bt impairtd, the insurance proceeds shat[ bt applied to the sums secured by thrs Decd o('f rust, wnh the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrowtr, or if Borrowtr fails m respond to Lender within JO days from the
<br />dart notice is mailed by Lender to Borrower that the insurance comer otTcrs to settle a claim (or insurance benches. Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restorahon or repair of the Propeny
<br />or to the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any wch esppliCation of proceeds to principal shall not extend
<br />or ppstpctne tffe.~pe daft of the monthly installments rc(erred to in paragrephs ! and 2 hereof or change the amount of
<br />such inital{mepts. !f under paragraph "8 hereof the Propeny is acquired by Lender, all rght, tide and interest of Borrower
<br />in and to any insurance polities and in and to the prxeedz thereof rewhing from damage to the Property poor to the sale
<br />or acquisition shag pass to Ltnder to the exam of the sums secured by this Deed of 'gust immediately prior to such snit or
<br />acquisition.
<br />6. Preserratfon and Maialenance of Property; Leaseholds; Condominiums; Planned Unit Derelopmen[s. Borrower
<br />sha8 keep the Propeny in goad repast and shall not conmtit waste or perm:! impairmm~t or JCteriorauon of the Property
<br />and shall comply with the provurons of any !case if ibis Deed of Trust is on a leasehold. !(this Deed of Trust as an a aria in a
<br />Condominium or a ptanntd unie de vttoamna, Borrowtr shall perform all of Borrower's obhgahons under the declaration
<br />of. c4vFppipts prsptip6 PC governing *, ht condominium or planne6 unit development, the t?y-laws and regulations of the
<br />condomirwm or ptanntd urot dtvetopment, and consGtuem documents. tf a condominium or planned ,mil development
<br />rider is executed by Borrower and recorded together wnh this Dttd cf Trust, the covenants and agrctmuns of such rider
<br />shalt bt inCOrporaied into and shat! amend and supplement the covenants and agreemen is u! this Detd ui Truss as :f the rdtr
<br />Wert a pan hereof.
<br />7. Proteclioa of Leotkr't Security. If Borrower foils to perform the covenants and agreements contained in this
<br />Deed of Trwt, or if any actors or proceeding is commenced which matena!ly atTens Lender's interest in the Propeny,
<br />including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements of proceedings involving a
<br />bankrupt or decedent, then Lender at Lender's option, upon netfct w Borrower, may make such apptarantxs, dubunC such
<br />auma and take sorb action as is necessary to protect Lender's interest, including, but not !imiicd to, disburscmcm ul
<br />reasonable aiWrnty's fees and entry upon the 'Property to make rtpairs. !f Ltnder required mortgage insurance as a
<br />condition oI making the loan secured by this Decd of Trust, Borrower shalt pay the premiums required to maintain wch
<br />,nsuranee in efttxt un~il such drne as the requirement [or such insurance terminates in accordance with Borrower's anil
<br />Lender's written agrtttMnt or applicable taw. Borrower shall pay the amount of ail mongage insurance premiums in eht
<br />manemr ¢rorided under paragraph 2 hertol.
<br />Any arnounu disbursed by Ltnder pursuant t0 this paragraph ~, with interest thereon, shalt became addiuanal
<br />itsdebsednass of Borrowtr stcurcd by this Dced of Trust. Unless Borrower and Lutder agree to other terms of payment, such
<br />amounts steal! be payable upon notice from Lendcr to Borrower requtxting payment thtreoi, and shat; tzar mitres[ from the
<br />date of disbu rstttttnt at the gale payable from time to time an outstanding principal under the Nutc unless ;ssyment of anttrest
<br />at such rats would 4e contrary to applicable taw, in wh,ch event such amaums snail bear interest at the highest rats
<br />parmissi$ie under app'.iCabie law. Nothing tontaintd in :his paragraph 7 shat) require Ltnder to incur any expense or txke
<br />any action hereunder.
<br />i. las¢cctlon. Lendcr may make ar cause to be malt reasanabie entries upon amt +nspect:aria of the Property, provided
<br />that ~ttdet shat! give Burrower Warier prior to any such inspechar+ specify=rig reasonablc roust thcrtfor resoled .o ..enter-s
<br />interest to the PraDettY.
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