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kt~i538
<br />Uxat~ofua Covtavax'[s. Borrower arm I.tasdrr xvtnattt and ogee as folEows: 1 ,~ ~-"
<br />1. Pttirt•tat of PtHteFgtai ant lsAcserr. Borra~rter shalt promptly Pay what due '.she principal of and ineerest air tlbt
<br />i~ evidtmcaf by xhe Mott, ptepaytnent and tare charges as provKled in the Norc, acrd the principal of and inzcresu.
<br />on act Future Advances se=tried by this D~ of Trttst.
<br />Z. IPada fbr'Staas ssd Itaitasze. Suhyrct fa applicable law or is a written waiver by Lender, Borrower si>'! aay
<br />to Lender on ttte day monthly ittstallrrrems of principal artdsnterest art payable under tier Notc, urait the No[e is paidtn :_•:,
<br />a sum {herein "Ftmdtt") equal to one-twtlith of the yearly taxis and assessmenu which may attain priority avtr this
<br />Deed of Trust. and gsrntad reties on the Property, if any, plus ottotwtlfth of ycarlq premium instaltttxnts for hazard insurance.
<br />pltn ottc-twelfth of yearly praaium installments for mongagc insurance, if atty. ar7 as reasonably estirrtated initially and from
<br />tittle to ti»x by Leader on the basis of zssesstnents and bills and reasonable estimates thcrwf.
<br />The Fureda shall ice held in an institution the deposits or azcounts of which arc insured or guaranteed by a Federal or
<br />state agency {itxluding Lender if Lender is stilt an institution). Leader shall apply th- Ftmds to pay said taxes. asscssrrxrtts.
<br />insurance prctttttrrns and Bound rates. Lender may tent charge for so holding and spplying the Funds, analyvng said account
<br />or verifying and t:oatp~ling said assessments and bills, unless Lender pays $orrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may spice in writing at the time of execution of this
<br />Decd of Ttitat that interest on the Funds shad be paid to Borrower, and tmtess such agreetrttn; is [Wade or applicable law
<br />requites such interest to be paid, Lender shat) not be required to pay Borrower any interest or earnings on the Funds. Len~r
<br />shalt give to Borrower, without charge, an.annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose frn wfiich each debit to the Funds was made. The Funds are pledged as additional security for the sutra secured
<br />by this Deed of Trost
<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 taxes, assessments, insurance premiums and ground trots, shall eztxed the amount required to pay said taxis.
<br />atesesaments, insurance premiums and poured rents as they fall due, such excar shall be, at Borcower's option, afher
<br />pranptty repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amoum of the Funds
<br />held by Lender shalt trot be sufficient to pay [axes, assessments, insurance premiums and ground tents as they fall due,
<br />Borrower shall pay to Letuler any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Ltmder to Botrowes tegttttstittg payment thereof.
<br />Upon payment in full of all stems xcnred by [his Deed of Trust Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragra~th I g hereof the Property is sold or the Property is otberwix acquired by Lender. Lender
<br />shall apply, no later than imrttrdtately prior to the sale of the Progeny or its acquisition by Lender. any Funds held b}'
<br />Leads at the tittle of application as a credit against the sums secured by this Deed of Trust.
<br />3. Ap~Bca$sst of hyttaeefs. Unless applicable law provides otherwix, all payments received by Lender tinder the
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounu payable to Lender by Borrower
<br />under paragraph 2 hereof, [hen to interest payable on the Note, then to the principal of the Note, seed than to interest and
<br />principal on any Future Advances.
<br />1. Clae6es; Liens. Borrower shall pay all taxes, asxssmenis and other charges. fines and impositions attributable m
<br />the Property whleh tray attai_a a priority over this Deed of Trust, and leasehold paym;.tq or ground rafts: if any, in the
<br />ertaamier provided under paragraph 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 Lender all notices of amounts due under this paeagraph, and in the
<br />evtat Borrower shall make paytttent directly, Borrower steal! promptly furnish to Lender receipts evidencing such payments.
<br />BotTOwer shall promptly discharge any lien which has priority aver this Dad of Trust; provided, that Borrower shall not be
<br />required to dtschatge any such teen so long as Borrower shall 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 by, or defend enforcement of such lien in.
<br />legal protetdings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />3 Amid laprsttnea Botmwer shall keep the improvements now existing or hereafter erected on the Property insured
<br />against lass by fire, hazards included within the term "extended coverage", and such other hazazds as Lender may require
<br />and in such amounts seed for such periods as Lender may require; provided. that Lender shall not require that the amount of
<br />such coverage extad that amount of coverage required to pay the sums secured by this Deed of Tntst.
<br />Tex imutance carrier providing the insurance shall be choxn by Borrower subject to approval by Lender, providrd.
<br />that such approval shall trot lx unreasonably withheld. All premiums on insurance policies shat! be paid in the manner
<br />provided tinder paragraph 2 hereof or, if not paid in such manrxr, by Borrower making payment, when due, directly to the
<br />insurance eisrries.
<br />All insurance policies and renewals ibereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />claux in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof.
<br />and Borrower shat{ promptly furnish €o Lender ail renewal notices and alt receipts of paid premiums. In the event of toss,
<br />Borrower shall give prompt troiice to the itisuratrce carrier and Lt;ttder. Lender may make proof of toss if no€ maw promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwix agree in writing, insurance proceeds shall br applied to restoration or repair of
<br />the Property darttaged, provided such restoration err repair is ecanamicaiiy feasible artd the security of this Drcd of Trust is
<br />not thereby impaired. If such :~toratit>n or repair is r.« ; ~ onomica:ly feasible ur if the ucurity of this '~ted of Trust wot:ld
<br />be ittt~ired, the ittsurattse proceeds shall be appled io tot sums secured by this Deed of Trust, with the excess, if arty, paid
<br />!o Borrower= If r~ Pm~rry .s a6ttndt_+ned by Borrower, n: if Borrower faits to respond !o Lender within i(t dove from the
<br />date notice is mailed try Lender to Borrower that the imatnnce carrier offers to settle a claim for insurance benefits. Lender
<br />is authorized to collect anef apply the insurance proceeds at Lender's option tither to restoration or repair of the Proptny
<br />or to the stems existed by this Dad of Trust.
<br />Utiless Leader seed Borrower otherwix opts in writing, any such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount oi'
<br />such ittstalirttents. if under paragaph 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />in and to say insurance policies seed in and to the pra:eeds thereof resulting from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender [o the extent of the sums secured by this Deed of Trust immediately prior to such sale or
<br />acquisition.
<br />f. PnaervMbn srrtil Mtsiatermce of Property; Lcsaeholds; Cottdottaialaass; Planwed Unit Developrneats. Borrower
<br />shall keep the Property in good repair and shall not commit waste ar permit impairment or deterioration of the Property
<br />and shall comply with the provisions of any Ieax if this Detd of Trust is on a leasehold. If this Deed of Trust is on a unit in a
<br />condominium or a planned unit 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 Deed of Trust, the covenants and agreements of such rider
<br />shall be ittcorporatal loco and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider
<br />were a part hereof.
<br />7. Pnseetlast of Lentiler'a fieetuffy. If Borrower fails to perform the covenants and-agreements contained in this
<br />Dad of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Property,
<br />indtiding, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
<br />bankru~ or dceedeuf, ehen Lendee a[ Lender's option, upon notice to Borrower, may make such appearances, dist;urse such
<br />stems and take such action as is necessary to protect Lenders interest, including, but oat limited to, disbursement of
<br />resaonable attorney's fees and entry upon the Property to make repairs. If bender required mortgage insurance as a
<br />condition of making the loan sxurtd by this Deed of Trust, Borrower shall pay the premiums required to maintain such
<br />insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and
<br />Lender's written agreement or applicable law. 8orcower steal! pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Aayy amotmts disbursed by Lender pursuant to this paragaph 7, with interest thereon, shall become additional
<br />ittdebtedneaa of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shalt he payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest tram the
<br />date of dbbutaetrtent at the rate payable from time to tirtx on outstanding prinnpal under the Note unless payment of interest
<br />'at such cafe would be contrary to applicable taw, in which event such amounts shall bear interest at the highest raft
<br />pttirmiail>}a tender applicable law. Nothing rnntairted in this paragraph 1 shall require Lender to incur any expenx or take
<br />any action hereuadar.
<br />f!, ftttlptllan. Lender may make or cause to !x made reasonable entries upon and inspections of the Property, provided
<br />that I.ettdet shall give Borrower notice prior to any such irtspx[ion specifying reasonable cause therefor related to Lender's
<br />interest in the Proftaty.
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