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(Page 3 of 5) 200202948 Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred in in paragraphs 1 and 2 or change the amount of the payments. If under paragraph 19 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediately prior to the acquisition. 6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease if this Deed of 'Trust is on a leasehold. If this Deed of 'Trust is on a unit in a condominium or a planned unit development, Borrower shall perform all of Borrower's Obligations under the declaration or covenants creating or governing the condominium or planned unit development, the by laws and regulations of the condominium or planned unit development, and constituent documents. 7. Protection of Lender's Security. if Borrower fails to perform the covenants and agreements contained in this Deed of Trust, or if any action or proceeding is commenced which materially effects Lender's interest in the Property, then Lander, at Lender's option, upon notice to Borrower, may make such appearances, disburse such sums, including reasonable attorneys' fees, and take such action as is necessary to protect Lender's interest. If Lender required mortgage insurance as a condition of making the loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain such insurance in effect until such time as the requireirl for such ins: ranee terminates in accordance with Borrower's and Lender's written agreement or applicable law_ Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the applicable contract rate, shall become additional indebtedness of Borrower assured by this Deed of Trust. Unless Borrower and Lender agree in other terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof. Nothing contained in this paragraph 7 shall require Lender to incur any expense of take any action hereunder. 8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property. 9. Condemnation. The proceeds of any award or claim for damages, direct or :onsequential, in connection with any condemnation or other taking of the Property, or part thereof, nr for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender, subject to the terms of any mortgage, deed of trust or other security agreement with a lien which has priority over this Deed of Trust_ 10. Borrower Not Released; Forbearance By Lender Not a Waivcr. hxter ion of the time for payment or modification of amortization of the sums secured by this Deed of Trust granted by Lander to any successor in interest of Borrower and all other parties who are or hereafter become secondarily liable shall not operate to release, in any manner, the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any demand made by the original Borrower and Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a wan cr of or preclude the exercise of any such right or remedy. 11. Successors and Assigns Bound; Joint and Several Liability Co- signers. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns or Lender and Borrower, subject to the provisions of paragraph 16 hereof. All covenants and agreements of Borrower shall be joint and several. Any Borrower who co -signs this Deed of Trust, but does cot execute the \rote., (a) is co- signing this Teed of Trust only to grant and convey that Borrower's ineregl in the Property to [,ender order the terms of this Deed of Trust, (b) is not personally liable on the Nate or under this Deed of 'Trust, and (c) agrees list Lender and any other Borrower hereunder may agree to extend, modify, forbear. or make any other accommodations with regard to the terms of this Deed of Trust or the Note, without that Borrower's consent and without releasing that Borrower or modifying this Deed of'Crust as to that Borrower's interest in the Property_ 12. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in this Deed of Trust shall be given by delivering it or by mailing such notice by certified mail addressed to Borrower at the Property Address or ac such other ad ,toss as Borrow, may designate by notice to lender as provided herein, and (b) any notice to Lender shall be given by cc; tified mail TO I,ender:s address stated herein or to such other address as Lender may designate by notice to Borrower as pro ided ir. Any notice provided for in this Deed of Trust shall be deemed to have been given to Borrower or Lander when g'vice in the manner designated herein. 13. Governing Law; Severability. The state and local !anus of I is jurisdiction is whlch the Property is located shall apply except where such laws conflict with Fede!al law; in which cave., federal law shall apply. In the event that any provision or clause of this Deed of Trust or the Nole conflicts with applicable he such conflict shall not affect other provisions of this Deed of Trust or the More which can he given effect without the conflicting provision, and to this end the provisions of this Deed of Trust and the Note are declared to ba• severable. As .Ised herein, "costs," "expenses," and "attorneys' fees" include all sums to the extent not prohibited by apphcab!e law or Il mited herein. 14. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Deed of Trust, if requested, at the time of execution or after recordation hereof. 15. Rehabilitation Loan Agreement. Borrower shall fulfill all of Borrower's obligations under any home rehabilitation, improvement, repair, or other loan agreement which Borrower carters into with Lender. Lander, at Lender's option, may require Borrower to execute and deliver to 1,e dcr, in a form acceptable to Lender, an assignment of any rights, claims or defenses which Borrow, may ha, again: parties who safely labor, materials or services in connection with improvements made to the Property. 16. Transfer of the Property. If Borrower sells or transfers a! or any port of t *e Property or an interest therein, excluding (a) the creation of a lien or encumbrance subordinate to '7rs Deed of Trst !b) a transfer by devise, descent, or by operation of law upon the death of a joint tenant, (c) the grant of any leasehold interest of three years or less not containing an option to purchase, (d) the creation of a purchase mu Ties security interest for household appliances, (c) a transfer to a relative resulting from the death of a Borrower, (f) a transfer whore foe spouse or children of the Borrower become an owner of the property, (g) a transfer resulting from a decree of dissolution of marriage, legal separation agreement, or from an incidental property settlement agreement, bs ,'hush the s --ouse of the Borrower becomes an 01 -01 -00 DOT NE007943 111111111111HNIIII11111111111111111111111IIIBI1, Iii 1111111111111111111111111111!1 R1111 Pl11111111111111L111 ?DI GINPL *a91aN456CK97JOT9000NEOOt943O "= GEL '