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<br />c <br />... '-' <br /> <br />< ' <br /> <br />Borrower' covenants that Borrower is lawfully seized of the estate hereby conveyed and <br />has the right to grant and convey the Property, and that the Property is unencumbered except <br />for encumbrances of record. Borrower covenants that Borrower warrants and will defend <br />generally the title to the Property against all claims and demands, subject to encumbrances of <br />record. <br /> <br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: <br /> <br />1. Payment of Principal and Interest. Borrower shall promptly pay when due the <br />principal and interest indebtedness evidenced by the Note and late charges as provided in the <br />Note. <br /> <br />2. Application and Payments. Unless applicable law provides otherwise, all <br />payments received by Lender under the Note and paragraph 1 hereof shall be applied by <br />Lender first in payment of interest payable on the Note, and then to the principal of the Note. <br /> <br />3. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform <br />all of Borrower' s obligations under any mortgage, deed of trust or other security agreement <br />with a lien which has priority over this Deed of Trust, including Borrower's covenants to <br />make payments when due. Borrower shall payor cause to be paid all taxes, assessments and <br />other charges, fines and impositions attributable to the property which may attain a priority <br />over this Deed of Trust, and leasehold payments or ground rents, if any. <br /> <br />4. Hazard Insurance. Borrower shall keep the improvements now existing or <br />hereafter erected on the Property insured against loss by fire, hazards included within the term <br />" extended coverage", and such other hazards as Lender may require and in such amounts and <br />for such periods as Lender may require. <br /> <br />The insurance carrier providing the insurance shall be chosen by Borrower subject to <br />approval by Lender; provided that such approval shall not be unreasonably withheld. All <br />insurance policies and renewals thereof shall be in a form acceptable to Lender and shall <br />include a standard mortgage clause in favor of and in a form acceptable to Lender. Lender <br />shall have the right to hold the policies and renewals thereof, subject to the terms of any <br />mortgage, deed of trust or other security agreement with a lien which has priority over this <br />Deed of Trust. <br /> <br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and <br />Lender. Lender may make proof of loss if not made promptly by Borrower. <br /> <br />If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender <br />within thirty (30) days from the date notice is mailed by Lender to Borrower that the insurance <br />offers to settle a claim for insurance benefits, Lender is authorized to collect and apply the <br />insurance proceeds at Lender' s option either to restoration or repair of the Property or to the <br />sums secured by this Deed of Trust. <br /> <br />2 <br />