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<br />200600047
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<br />holding and applying the Funds, analyzing said account or verifying and compiling said assessments and bills, unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
<br />Lender may agree in writing at the time of execution of this Deed of Trust that interest on the Funds shall be paid to
<br />Borrower, and unless such agreement is made or applicable law requires such interest to be paid, Lender shall not be
<br />required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an
<br />annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the
<br />Funds was made. The Funds are pledged as additional security for the sums secured by this Deed of Trust.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior
<br />to the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay
<br />said taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's
<br />option, either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of
<br />the Funds held by Lender shall not be sufficient to pay taxes, assessments, msurance premiums and ground rents as
<br />they fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments
<br />as Lender may require.
<br />Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any
<br />Funds held by Lender. If under paragraph 17 hereof the Property 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 acquisition by Lender, any
<br />Funds held by Lender at the time of application as a credit against the sums secured by this Deed of Trust.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by
<br />Borrower under paragraph 2 hereof, then to interest payable on the Note, and then to the principal of the Note.
<br />4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations
<br />under any mortgage, deed of trust or other security agreement with a lien which has priority over this Deed of Trust,
<br />including Borrower's covenants to make payments when due. Borrower shall payor cause to be :paid all taxes,
<br />assessments and other charges, fmes and impositions attributable to the Property which may attain a priority over this
<br />Deed of Trust, and leasehold payments or ground rents, if any.
<br />5. Hazard Insurance. Borrower shall keel? the improvements now existing or hereafter erected on the Property
<br />insured a~ainst loss by fire, hazards included WIthin the term "extended coverage," and such other hazards as Lender
<br />may reqUIre and in such amounts and for such periods as Lender may require.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender;
<br />provided, that such approval shall not be unreasonably withheld. All insurance policies and renewals thereof shall be in
<br />a form acceptable to Lender and shall include a standard mortgage clause in favor of and in a form acceptable to
<br />Lender. Lender shall have the right to hold the policies and renewals thereof, subject to the terms of any mortgage,
<br />deed of trust or other security agreement with a lien which has priority over this Deed of Trust.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make
<br />proof of loss if not made promptly by Borrower.
<br />If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date
<br />notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the
<br />Property or to the sums secured by this Deed of Trust.
<br />6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments.
<br />Borrower shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of
<br />the Property and shall comply with the proVIsions of any lease if this Deed of Trust is on a leasehold. If this Deed of
<br />Trust is on a unit in a condominium or a planned unit development, Borrower shall perform all of Borrower's
<br />obligations under the declaration or covenants creating or governing the condominium or planned unit development,
<br />the by.laws and regulations of the condominium or planned unit development, and constituent documents.
<br />7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this
<br />Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Property,
<br />then Lender, at Lender's option, upon notice to Borrower, may make such appearances, disburse such sums, including
<br />reasonable attorneys' fees, and take such action as is necessary to protect Lender's interest. If Lender required mortgage
<br />insurance as a condition of making the loan secured by this Deed of Trust, Borrower shall pay the premiums required to
<br />maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with
<br />Borrower's and Lender's written agreement or applicable law.
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<br />0084499334
<br />Initials: ,/Jr
<br />
<br />AM76NE (0311)
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<br />Paga3of7
<br />
<br />Form 3828
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<br />0084499334 . 9704
<br />12/29/2005 3:33:34
<br />
<br />AM76ne3 (05/2005)Rev.02
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