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<br /> � � date each munth as ���ay b� spcciftcr3 b, �-neficiary, urnil the Obligations are paid in fitll, `�„,.,u._,�_
<br /> .. a sum (hereinafter the"Funds") equal to 1/12th of the ycarly taxes and assessments which ��_,,� ���
<br /> may attain priority c�ver this Deed of'Trust and ground renu on the Trust Property, if any, ;.;_;�;.-,.-..-._-_
<br /> plus 1/12th of the yearly premium installments for hazard ins�arance, plus 1/12th of the "���.� -
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<br /> yearly premium installments for mortgage insurance, if any, all as reasonably estimated ---
<br /> � �� initially and from time to time by Beneficiary on the basis of assessments and bills and '���
<br /> ' reasonable esti�nates thereof. The Funds shall be held in an institution, the deposits or ��
<br /> accounts of which are insureci or guaranteed by a federal or state agency including
<br /> Beneficiary. Beneficiary stiall apply the Funds to pay said taxes. assessments, insurance
<br /> premiurns and ground rents. Beneficiary shall not be required to pay Trustor any interest ��__—
<br /> or earnings on the Funds. Beneficiary shall give to Trustor, without charge, an annual ' �=�
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<br /> accounting of the Funds showin$credits and debits ro the Funds and the purpose for which ��_.,
<br /> � eac� debit to the Funds was made. The Funds are pledged as additional security for the .
<br /> Obligatxons secur�ed by this Deed of Trust. If the amount of the Funds held by Beneficiary, ����-����
<br /> ' � togeth�r with tlne fumre mvnthly instal�inents of Funds payable prior to the due dates of =_, -
<br /> �• taxes, assessments. insurance premiums and �round rents, shall exceed the amount __
<br /> �" required to pay said taxe�, Assessments, insurance premiums and ground rents as they fall
<br /> � due,such excess stfall be,at Trustor's option, either promptly repaid to Trustor or credited
<br />= to Trustor against future monthly instailmencs oi Funci�.Ii i�e�ou:tt of thc Funds h�ld b;
<br />;;':';�'''�'� Beneficiary shall not be sufficient to pay taxes, assessments, insurance premiums and
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<br />.,..5 . ground rents as they fall due, Trustor shall pay to Beneficiary any amaunt necessary to
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<br /> make up[he deficiency within thirty days from the date notice is mailed by Beneficiary to
<br />- ' Trustor requesting payrne�at thereof. Upon payment in full of all Obligations, Beneficiary
<br />���-� :. shall promptly refund to T'rusiur at�y Funds hcld by �eneficiary. If the �'nist �r�perry is _ _
<br /> '' , sold under the power of sale or the Trust Property is otlierwise acquired by Beneficiary,
<br />_ . ' � Beneficiary shall apply, inunediately prior to the sale of the Trust Property or its
<br /> . acquisition by Beneficiary, any Funds held by Bene�ciary at the time of application as a
<br /> .'`�'` credit against the Obligations. If Beneficiary executes a written waiver of Trustor's
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<br /> =� �-•�-�� � obligations under this Section, Trustor covenants and agrces to pay, before the saine -
<br />=�':.�:;" �' becom�delinquent, all taxes,assessments, insurance premiurns, ground rents, and all other _
<br /> _- . � •�"� charges whatsoever levied upon or assessed, placed or rnade against the Trust Property. Q,_
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<br />�;��• Trustor further agrees, upon written request by Beneficiary, to promptly deliver to
<br /> _-"�'" Beneficiary all receipts for the payment of such char es. Trustor likewise a rees to a aU
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<br /> `'�"'�^��� taxes, assessments and ott�er charges levied upon or assessed, placed or made against, or G•
<br /> y�,�,��:•.._ measured by, this Deed of Trust or tt►e recordation hereof, r
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<br />��`^� S. Application of Payments_ All payments received by Beneficiary as to any debt, liabiliry or =-
<br /> � `' � obligation owed to Beneficiary by Tru�tor may be applied by Beneficiary to the payment of "-'`-
<br />�,,.. th� Obligations in any order or manner af application which Bene�ciary, in its absolute E'___
<br /> ''°i discretion.deems apprapriate. Unless otherwise elected by Beneficiary, any such payment ��t�
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<br /> shall be deemed applied�rst to the payment of an;� debt,liability or obligation other than '':�,,,�.____.
<br />= � the Note. �'�s'°
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