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Urttroast Ctyvarrstrxs. 'Borrower and Ltnd+rr covenant and agree as fol3asws: ~ ~ ..~ l) i~ .~ ~, ~ ~.'
<br />1, 1-aprme+ai of irloetpil sad Lrtttsst. Borrower alsall promptly pay wlstts due the principal of atul interest ocs [late,
<br />indtSkctbtess evidenced by the Note, prepayptent and sate Charges as provided in the Note, and [he principal of and interest
<br />on any Future Advances stacwed by ;his Deed of Tnist.
<br />Z. 7~ ~ Tam aM Ies~aeee. Strbjat to applicable law or to a written waiver by Izndtr, Ltorrwxt,. -' all psq
<br />to Lender on the day mopthiy igstaltmtnts of pnncspal and interest are payable under the Note, until the Note is paid in full,
<br />a step {herein "Funds"} equal to one-twelfth of the yearly fazes and assessments which may attain priority over this
<br />Decd of Trust, apd groupd rents on the Property, i[ any, plus one-twelfth of yearly premium iruttajlrnents for hazard ntwranCe,
<br />plus orwtwelfth of ytariy premium instalirnents for mortgage insurance, if any, all as reasonably estimated initialfy and from
<br />tint to time by Linder on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />start agency (including Lender if L-ender is such an institution). Lender shat! apply tlu Funds to pay said taxes, assessmenu.
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account
<br />or verifying arrd compiling satd aaasssmenta and bills, unless Lender pays Borrower interest on the Funds and applicabtle law
<br />permits Lender [o make such a charge. Borrower and Lender may agree in wrifiing at the rinse of execution of this
<br />Deed of Tntat that interest nn the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Gender shall not be required to pay Borrower any interest or earnipgs on the Funds. Lender
<br />shall give to Borrower, without Charge, an annual accounting of the Funds showing crtedits and debits to the Funds and the
<br />for which each debit to the Funds was made. The Funds arc pledged as additional security fcr the sums scetrred
<br />y the Decd of Trurt.
<br />If chi amoupY of the Funds held 6y Lander, together with the future monthly ipstaUntertts of Funds payable prior to
<br />the drle dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's optton, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Leader shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due.
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice rs mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Deed of Trust. Lender shall promptly refund to Horrnwer any Funds
<br />held by Lender. If under paragrayh 18 hereof the Property is sold or the Property ss otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, spy Funds held by
<br />Lender at the time of a Licatiop as a credit against the sums secured by thts Deed of Trust.
<br />3. A~Hatlop of rays•epfs. Unless applicable law provides otherwise, all payments received by Lender under ttse
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Linder by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note. and then to interest and
<br />principal on any Future Advances.
<br />4. Ckr~ea; Lkes. Harrower shall pay all taxes, assessments and ether Charges. fines and impositions attributable to
<br />the Property which may attain a priority over this Deed of Trttst, and leasehold payments or ground rents, if any, in the
<br />manger provided under paragraph 2 hereof or, if no[ paid in such manner, by Borrower making payment, when due, directly
<br />to the pays thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the
<br />event Borrower shall make payment directly, Borrower shall promptly furnish to tinder receipts evidencing such payments.
<br />Borrower shall promptly discharge any ]kn which has priority over this Deed of Trust; provided, that Borrower shall not be
<br />required to discharge any such hen so long as Borrower shall agrce in writing to the payment of the obligation secured by
<br />such liep in a manger acceptable to Lander, or shall in good faith contest such hen by, or defend enforcement of such lien in.
<br />legal pprocadings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />S. Haaasd Iwrasret. Borrower shall keep the improvements now existing or keeafter erected on the Property insured
<br />against Loa by Ere, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lander may require; provided, that Lender shall not regwire that the amount of
<br />such coverage exceed that amount of coverage required to pay zhe sums secured by this Deed of Trust.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided.
<br />that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the mapper
<br />provided ttpder partagraph 2 hereof or, if rwt paid in such manger, by Borrower making payment, when dsx, directly to the
<br />irourapce carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of apd in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof.
<br />apd Borrower shalt promptly famish to Lender ail renewal notices and alt receipts of paid premiums. In the even[ of toss,
<br />Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agrce in writing, insurance proceeds chart be applied to restoration nr repev of
<br />the Property damaged, provided such resentatia:: or repair is economically feasible and the security of this Dced of Trpat is
<br />riot thereby impaired. If such restoration or repair is not economically feasible or it [he security of this Deed of Trust would
<br />be impait~l, thc'nsurartie procceds shall 6e appha.~.t to the sums secured by this Deed of Trvst, with the exc!'~s, if any. paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from [he
<br />date notice is mailed by Legdtr to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
<br />is authorized -o collect apd apply the insurance proceeds at Lenders option either to restoration or repair of the Property
<br />or to the wins secured by this Dad of Trust.
<br />Unless Lender and Borrower otherwise agrce in writing, any such application of proceeds to principal shall not extend
<br />or postpoce the dire date of the monthly installments referred to in paragraphs I acid 2 hereof or change the amount of
<br />attch installments. If tinder paragraph 18 hereof the Property is acquired by Lertder, all rigFst, tick and interest of Borrower
<br />in apd #o any inwrance policies anti in and to the proceeds thereof resultipg from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the extent of the sums secured by this Deed of Trust immediately prior to such sale or
<br />atxluisitiop.
<br />6. Itreservatlop ad Mitetutnce of Property; Leaseholds; Coiidoedelrms; Phpsied Uslt Devebppiems. Borrower
<br />shall kcep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Properly
<br />and shalt comply with the provisions of any Rase if this L?ad of Trust is on a leasehold. If this Iked of Trust is on a unit in a
<br />condominitun or a planned ugit development, Borrower shall perform all of Borrower's obligations under the declaration
<br />or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the
<br />condominium or planned unit development, and constituent documents. If a condominium or planned unit development
<br />rider is executed by Borrower and recorded together with this Dced of Trust, [he covenants and agreements of such rider
<br />shall be incorporated into and shall amend and supplement the covenants and agreements of this Dced of Trust as if the rider
<br />were s part hereof.
<br />7. RsoleeUoa~ of Lesider's 9atnrlty. If Borrower fails to perform the rnvenants and agrcements contained in this
<br />Deed of Tent, or if any action or proceeding is commenced which materially affects Lepder's interest in the Property,
<br />including, but pot limited io, eminent domain, insolvency, code enforcement, oe arrangements or proceedings involving a
<br />bagkrupt or decedent, they Lender at Legder's option, upon notice to Borrower, may make such xppearanccs, disburse such
<br />sums and take such action as is necessary to rotect [,ender's interest, including, but not limited to, disbursement of
<br />reasonable attoriiey's fees and-entry upon the Property to make repairs. tf Lander required mortgage insurance as a
<br />caaslition of making the loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain such
<br />IpaYTapCe Ip CffP+Ct pptll Such cline aS the requirement for such insurance terminates in acrnrdanse with Borrower's and
<br />Lender's wrtitten agreement or a bk law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner prodded under paragraph 2 hereof.
<br />An~yamounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />iudetttednas of Borrower sawed by this Deed of Trust. Unless Borrower and Lender agrce to other terms of payment, such
<br />amounts shalt be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br />date of disbirraement at the me payable from time to time on outstanding principal under the Note unless payment of interest
<br />It such rate would be coplrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br />parmiuibk under applicable law. Nothipg contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />{. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lerider"a~uU jive Borrower notice prior to any such inspection specifying reasonable cause therefor related to tinder's
<br />ipterat in the Prooaty.
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