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<br /> 97- 110804 �
<br /> • "'""'"'� , lf the amount of the Funds held by l.ender, together with the future monthly installments of Funds payable prior
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<br /> to the due dates of taxes,assessments,insurance premiun�s and ground rents. shull exceed the amount required to pay
<br /> said taxes, assessments,insurance premiutns and ground nnts as they fall due, such excess shall be, at Borrower's
<br /> � option, either promptly repaid to Borrower or credited to Bonower on montbly installments of Funds. If the amount
<br /> of the Funds held by Lender sh�ll nat be sufficient to pay taxes, assessments,insurance premiums and ground rents
<br /> ; as they fall due, Bonower shall pay to I.ender any amount necessary to make up the deficiency in one or more
<br /> � payments as I.ender may require.
<br /> Upoii payment in full of all sums secured by this Deed of Trust,Lender sliall promptly refund to Borrower any
<br /> Funds held by I.ender,If under paragraph 17 hereof thc Pcoperty is sold or the Property is otherwise acquired by
<br /> Lender, Lender shall apply,no later than Immediately prior to the sale of the Property or its acquisltion by Lendcr.
<br /> , any Funds held by Lcnder at the time of application as a credit against the sums secured by this Deed of Tcust.
<br /> 3. Application of Payn�ents. Unless applicable law provides othenvise,all payments received by Lender under
<br /> '1� the Note and paragraphs 1 and 2 hereof shall be applicd by I.ender first in payment of amounts payable to L.ender by
<br /> • Bonower uader paragroph 2 hereof,then to interest payable on the Note,and then to the principal of the Note.
<br /> � � 4. Prtor Mortgages and Deeds oP Trust; Charges; Llens. Bonower shall perform all of Bonowcr's
<br /> obligations under any mArtgage, deed of trust or other security agreement with a lien which has prioriry over this
<br /> Deed of Trust, including Borrower's coveaants to make payments when due.Borrower shall pay or cause to be paid
<br /> all taxes, assessments aad other charges, fines aad impositions attdbutable to the Properry which may attain a
<br /> �• prlorlty over this Deedof Tn�st,and leasehold payments or ground rents,if any.
<br /> 5. HazArd Iasurance.Bonower shall keep the improvements now existing ar hercafter erected on the Property
<br /> insureti ageinst loss by fire,hazards included within the term "extended coverage,'and auch other hazacds as I-ender
<br /> �� may require and in such arnounts and for such perials as Lender may require.
<br />_ .-._ _ .;�. �� �u��r �a�er providine the insurance shall be chosen by Borrower subject to approval by Lender;
<br /> ,; provided, that such approval shall nat be unreasonably withheld.All insurana policies and renewala thereot shali be
<br /> ��. in a form ecceptable to I.ender and shall include a standazd mortgage clause in favor of and in a form acceptable to
<br /> Lender. L.ender shall have the dght to hold the policies and renewals thereof,subjxt to the tem�s of any moitgage,
<br /> deed of trust or other securlry agreemeat with a lien which has priority over this Deed of Trust.
<br /> ' • Tn the event of lou. Borrower shall give prompt notice to the insurance cartier and Lender. Ltnder may make
<br /> proof of loss if no�made prompdy by Borrower.
<br /> If the Property i�abandoned by Rnnower, or if Borrower fails ta respond to Lender within 30 days from the
<br /> date notice is mailed by Lender to Borrower that the insurance carrior offers to seule a claim for insurance beneftt�,
<br /> Lender is authorized�o collec[and apply tt►e insurance proceeds at I.ender's option either to restoratlon or repalr of
<br /> the Property or ro the surns secured by this Dced of Trust,
<br /> 6. Preservation md Matnten�ncc of Property; Lwseholds; Condomin[wna; Plonned Un(t Developmeata.
<br /> � '� Bormwer shxll kcep the Property in good mpair and shall not coirunit wnste or permit impaitment or deterloration of
<br /> � � '' the Properry and sha11 cornply with the pn�visions of any lease if this Dad of Tnut is an a leaahold.If thie Deod of
<br /> f Trust is on a unit in a condominium or a planned unit d�vclopment, Borrower shall perform all of Borrowcr'e
<br /> obligations under the dxlaration or covenants creating or governing the condominlum or plannod unit development,
<br /> ' dte by-laws and ngulations o�the condominium or planned unit development,and constituant docuiaents.
<br /> 7.Protection ot Lender's Security.If Boaower fails to perfoim the covenants and agraments contained in this
<br />-• Deed of Trust, or if any action or proceeding is conunenred which materially affects L.ender's interest in the
<br /> Property, then Lender, at Lender's option, upon notice to Bonower, may make such appearancts, disburse �uch
<br /> • " „ sums, inciuding reasonable actorneys' fees, and take such action as is necessary to protect Lender's interest. If
<br /> - " � I.ender required mortgage insurance as a condition of making the loan secured by this Dced of Trust,Borrower shull
<br /> pay the premiums required to maintain such insurance in effect until such time as the requirement for such insurance
<br /> t terminates in accordame with Bonower's and Lender's written agreement or applicable law.
<br />- • ! Any amounts disbursed by Lender pursuant to this paza�raph 7, with interest thereon, at the Note rate. shall
<br /> , ,I become additional indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to
<br /> �I other terms of payment. such amounts shall be payable upon notice From Lender to B9nower requesting payraent
<br /> thereof. Nothing coniained in this paragraph 7 shall require Lender to incur any expense or take any action
<br /> hereunder.
<br /> 8.Inspection. Lender may make or cause to be madc reasonable entries upon and inspections of the Property,
<br /> provicied that L.cnder shall give Boccower notice prior to any such inspection specifying reasonable cause therefor -
<br /> related to Lender's interest in the Praperty. Form 3s2e ,
<br /> �-i8tNE)�sso�� Pape 3 of 8 �rouo��: �
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