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<br /> If moevo�-�ee�ay9 F�u��ds to Lc��dcr,thc FuncO�Sl�r�ll b�hcld i�i �ti institution thc deNasits r-:� c�u i s �hich nrc "
<br /> insutrcc9 ae�uaeanteed by n Fedcenl orr stnte n�ency Ihtcinding Lrander iP I.ender is such an insUtuUon).LE:nder shall apply i
<br /> � thc Funda to puy 5atd tttxes,nsscssments.fnsurnnce p�emiums und ground eents.Lender may not chnr6e far so haldin� • ����`
<br /> � and nppiyfng the Funds,analyzins satd account ar veriFying and compiNns snld pssessments nnd bflls, unless [�ender ` . �.��
<br /> ��ays eorrowcr interest on ll�e Funds nn�npplicnble Ivw permits I.ender to mnke such n charge. Borrower and l.ende� • ;.!!K�
<br /> may o6rce in wriNng ut thc timc of exccution of thl�Deed ofTrust tl�nt interest on¢hc Funds shull be pAfd to�orrower, I ���,�q.
<br /> and unless such ugreenient is mnde or applicAble Inw requires such intcirst lo be putd, Lender shnll not be required •• ����
<br /> to pay �urrowcr any intereat or aarnings on the Funds. Lender siiall give to floerowee, withoul cl�aege, nn nnnunl � � "�
<br /> accaunting of the Funds showing credits nnd debits to the Funds and the purpose for which euch debit to the Funds wus � • o-r�'�
<br /> � made.Thc Funds are ptedged os udditional sccurity for the sums sccured by this Dced oFTrust. I �� +r
<br /> If the amount oFthe Funds held by Lender,together with the future monthiy instnllmcnts of Funds paynble prior to �
<br /> the due dates oFtaxes,assessments,insurancc premiums and ground rents,shall excecd the umount rcqulred to pay said � �'"'
<br /> tnxcs,nssessments,insuraoue premiums and ground rents as thcy fall due,such excess shrsll be,at Borrower's option,
<br /> cith�r promptly repold to Bor�•ower oe ceedited to Roerowee on monthly installmc�ts of Funds. If thc amount of the I �
<br /> „ Furtds hcld by I.endcr sholl nof be sut'Ficient to pny taxes,usscssments,insuruncc premiums und geound rents as thcy fall � °
<br /> duc.Uoerower sh�ll pay ta Lender any amount necessary to make up the deficiency in one or more payments as Lender � �
<br /> , may rcquire. �
<br /> Upon puyment iu full of all sums secured by this Q�eed of Trust, L.ender shall promptly refund to Borrower any '
<br /> Funds F�eld by Lender. IF under paragraph 17 hereof the Property is sold or thc Property is othenvise acquired by j •
<br /> . l.endcr, Lcnder shall apply,no later thun immediately prior ta the sale of the Prope�ty or its acquisition by Lender,any f
<br /> Funds held by Lender at the time of application as n credit against the sums secured by this Deed of Trust. � .
<br /> 3. Applicatlon oi'P�ymenb. Unless applicuble law provides othenvise, all payments receiverl by I.ender under
<br /> • the Note and paragraphs 1 and 2 hereof shall be applied by L.ender first in payment of amounts payable to Lender by f .;�,�';,
<br /> Borrower under paragraph 2 her�f,then to interest paynb9e on the Note,und then to the principal of the Note. ; • ' '�v�''
<br /> 4. p�lor 1Vlortgages ao�d �ceds of Trwq Charg�.v; Llens. Borrowcr shall perfarm all of Bonower's obligations � � r�:��
<br /> unde�any mortgage,deed of trust or other security a�reement wtth a lien which hps priority aver this Deed of Trust, � ,,.' t?
<br /> including Borrowe�'s covenants to make payments when due. Borcower shall pay or cause to be paid all taxes, � •' r'�, '
<br /> assessments and other charges,tines and impositions attributable to the Property which may attain a priority over this ! �'''`
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<br /> . Decd of Trust,and leasehold puyments or ground rents.if uny. :� jy
<br /> ,. 5. Hazerd Insarance. Bonower shull keep the i�nprovements now existing or hereafter crected on thc Property � + '�' �
<br /> ' insu�ed against loss by fire,hazards included within the term"extended covcrage",and such other hazards as L.ender � ✓/_���
<br />---�'�`-�---` -- may rcqmrc and m such amounts and for such peeiods as Lcndcr may requirc. :,
<br /> lhc insurancc carricr provlding the insurance shail be chosen by Borrowcr subject to appravul by Lender;prov�ded, � � �%'Y�
<br /> that such npprovnl shall not be unrcasonnbly withhcld,All insurnncc policies and ecnewals thereof shall bc in a fi+rm , ' .,
<br /> " trcceptnblc to (.cnder and shall includc a staRdnrd mortgn�c clausc in favor of'nnd in a form ucccptable ro I.endcr. I �
<br /> l.�nder shnll hnvc the right to hold the policies nnd renewols thereof,subject to thc terms of any morlgage.dced ol'Irust �
<br /> . or nthcr sccurity nbreement with a licn which has priority over this Deed ol'Trust. ' •
<br /> , In the event of loss.Bormwer shall give prompt notice�o the fnsurc►nce cnrrirr nnd L.ender.Lender m�y mnke proof ,
<br /> ol'loss if not mr►dc promptlyby Dorrowcr. _
<br /> If the Pmperty is ubandoned by Borrowcr,or if Borrowcr fnils ta respund �o L.�:ndcr within 30 days from the date ,'�
<br /> noticc is mailed by l.ender to I3oROwer thnt the fnsurance carricr ofYers to settle a cinim for insurnnce beneflts,Lender is • , � �
<br /> authorized to collcct nnd apply the insuraiece procecds at L.ender's aption rither to restorution or repair of the ' '
<br /> .i
<br /> �'�operty or to the sums sccurcd by this Qeed of Trust. .
<br /> , 6. Prcserv�tlon and MaJntenance ot Propertys Leaachold�t Condo�inlums; Planned Unit Developments. Bor• i �
<br /> :. , w.
<br /> . rowcr shall kccp the Property in good repair and shall not commit waste ur permit impairment or deterioration of the �•� ,�,�I'
<br /> Property und shall comply a•ith the provisions of any leasc if this•Deed of Trust is on a leaschold.If this Deed of Trust is ' � �
<br /> ' . an a unit in a condominium ur n planned unit development,Bonower shall perform all of Borrower's obligations under ; t�
<br /> the dcclaration or covenants creating or govetning the condominium or planned unit development,the bylaws and I
<br /> regulations o�lhe condominium or plznnecl unit development,and constituent documents. ! �� �;� �i
<br /> 7. Prutceltun of Lender'�Securtty. If Bonower falls to perform the covenants and Agreements contained in this � ;`� �� •
<br /> Dccd of Trust,or if any action or procecding is commenced which materially affects Lender's interest in the Property. �, �,+��
<br /> then Lendec,at Lendee's option,upon notice to Qo�rower, may make such appearances,disburse such sums,including ' � .'►1
<br /> reasonable attorneys'(ecs,and t�ke such action as is neccssury to protect Lender's interest.If Lender required mortgnge �� .: �� �
<br /> - insurancc as o cundilion oF mukin�the loan secured by this Qeed of Trust.Banoa�er shall pay the premiums required to �
<br /> _ maintnin such insu�ance in effect until such time as the requirement for such insurance terminates in accordance with "� �
<br /> ' Borcowcr's and Lender's written ngreement or applicable law. .�•�
<br /> Any arnounts disbursed by Leiider pursuunt to this paragraph 7, �vith interest thercon, at the Note rate, shall �'
<br /> become additional indebtedness of Boreowcr securcd by this Dced of Trust. Unless Borrowcr and Lcndcr ag�ce to �ti
<br /> otlier terms of payment, such amounts shall be payable upon notice from Lender to Bonower requesting payment •
<br /> ehcreof. Nothihs contained in Ihis pnrograph 7 shall require Lcndcr to incur any expense or take ony action hereunder. �� �
<br /> 8. Inapection. Lender mny make or cause ta be made reasonable enteies upon and inspections�f the Property.
<br /> � provided that Lender shall give Borrosver notice prior to any such inspection specifying reasonable causc theref�or ,��
<br /> retnted to[,endcr's interest in the Property. ,
<br /> ' 9. Coademnatfon.The proceeds of any nwaed or claim for damages,direc� or consequential, in connertion with -�.�
<br /> any condcmnatfon or other taking uf the Property,or pnrt thercof, or for ronvey�nce in lieu of condemnation, arc � � � '
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<br /> - � - - � �- ••.•....�o�s:g—„w anv an�ii uc:poio io i,cndcr,SUOJCCi IO II1C tC[fT15 Ot fl�Y rtl0rtgasC.UCCa OI t�USt O�OLtlO['SCCUfIiy a��l`l`• ' � —"—�
<br /> T ment with a lien which has priority over this Dced of Tr�st. �� �
<br /> 10. Ilarrower Noi Relwed; Forbearance By I.endcr Not a Wdvcr. Extenston of thc timc for p�yment vr ,•;
<br /> � � modiflcutlon of nmortiz:ttion oPthe sums secured by this Deed of Trust grnnted by L.ender to any successor in interest of !
<br /> Borrower shall not operate to relense,in ctny tnanner,the liability of the original Borrawer and Bonower's successocs in . �I
<br /> interest. Lender shall not be required to commence pro.-eedings ngainst such successor or refuse to extend time for pay-
<br /> '' � , ment or othenvise modify amortization of the sums securcd by this Dced of Trust by reason of any demand made by the �
<br /> . ' ' original Horrower and Borcowe�'s snccessors in interest.Any forbcarance by Lender in eaercising any right or remedy �
<br /> • hereunder,orothenvise affotded by applicable law,shall not be a waiver of or preclude the exercise of any such right or
<br /> remedy. I
<br /> I1. SNCCessors and Anlgns Dound; Jolnt and Sereral Llablllty; Co•aigncrs. The covenants bnd,agreemcnts �
<br /> � - hercin contained shall bind.and thc rights hercunder shall inure to,the respectivc successors and assigns of L,cnder and ' �
<br /> Bonower,subject to the provisions oFparngraph 16 hereof.All covenants and a�reements of Borrower shall be joint and �
<br /> severnl.Any Borrotiver wl�o co•signs this Deed of Trust,but dces not execute the Note.(al.is co•signing this Dced of l'rust '' �I
<br /> � . aniy to�rant and rnnvey that liorrower's interest in thc 1'roperly to'i'rustce undcr the trrttts vf this Decc9 of Trust.Ibl is �
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