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<br />200600297
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<br />DOC 10 #: 00012469255801006
<br />5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the
<br />Property insured against loss by fire, hazards included within the term "extended coverage," and such other
<br />hazards as Lender may require and in such amounl'! and for such periods as Lender may require.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by
<br />Lender; provided, that such approval shall not be unreasonably withheld. All insurance policies and renewals
<br />thereof shall be in a form acceptable to Lender and shall include a standard mortgage clause in favor of and in
<br />a form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, subject to
<br />the terms of any mortgage, deed of trust or other security agreement with a lien which has priority ovcr this
<br />Deed of Trust.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may
<br />make 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
<br />the date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance
<br />benefit'!, Lender is authorized to collect and apply the insurance proceeds at Lender's option either to
<br />restoration or repair of the Property or to the sums secured by this Deed of Trust.
<br />6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit
<br />Developments. Borrower shall keep the Property in good repair and shall not commit waste or permit
<br />impairment or deterioration of the Property and shall comply with the provisions of any lease if this Deed of
<br />Trust is on a leasehold. If this Deed of Trust is on a unit in a condominium or a planned unit development,
<br />Borrower shall perform all of Borrower's obligations under the declaration or covenant'! creating or governing
<br />the condominium or planned unit development, the by-laws and regulations of the condominium or planned
<br />unit development, and constituent documents.
<br />7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements
<br />contained in this Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's
<br />interest in the Property, then Lender, at Lender's option, upon notice to Borrower, may make such
<br />appearances, disburse such sums, including rea'!onable attorneys' fees, and take such action as is necessary to
<br />protect Lender's interest. If Lender required mortgage insurance as a condition of making the loan secured by
<br />this Deed of Trust, Borrower shall pay the premiums required to maintain such insurance in effect until such
<br />time as the reauirement for such insurance terminates in accordance with Borrower's and Lender's written
<br />agreement or applicable law.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the Note rate,
<br />shall become additional indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender
<br />agree to other terms of payment, such amounts shall be payable upon notice from Lender to Borrower
<br />requesting payment thereof. Nothing contained in this paragraph 7 shall require Lender to incur any expense
<br />or take any action hereunder.
<br />8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the
<br />Property, provided that Lender shall give Borrower notice prior to any such inspection specifying rea'!onable
<br />cause therefor related to Lender's interest in the Property.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in
<br />connection with any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of
<br />condemnation, are hereby assigned and shall be paid to Lender, subject to the terms of any mortgage, deed of
<br />trust or other security agreement with a lien which ha'! a priority over this Deed of Trust.
<br />10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for
<br />payment or modification of amortization of the sums secured by this Deed of Trust granted by Lender to any
<br />successor in interest of Borrower shall not operate to release, in any manner, the liability of the original
<br />Borrower and Borrower's successors in interest. Lender shall not be required to commence proceedings against
<br />such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by
<br />this Deed of Trust by rea'!on of any demand made by the original Borrower and Borrower's successors in
<br />interest. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded by
<br />applicable Jaw, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenanl'! and
<br />agreemenl'! herein contained shall bind, and the rights hereunder shall inure to, the respective successors and
<br />assigns of Lender and Borrower, subject to the provisions of paragraph 16 hereof. All covenants and
<br />agreement'! of Borrower shall be joint and several. Any Borrower who co-signs this Deed of Trust, but docs
<br />not execute the Note, (a) is co-signing this Deed of Trust only to grant and convey that Borrower's interest in
<br />the Property to Trustee under the terms of this Deed of Trust, (b) is not personally liable on the Note or under
<br />this Deed of Trust, and (c) agrees that Lender and any other Borrower hereunder may agree to extend, modify,
<br />forbear, or make any other accommodations with regard to the terms of this Deed of Trust or the Note, without
<br />that Borrower's consent and without relea'!ing that Borrower or modifying this Deed of Trust a<; to that
<br />Borrower's interest in the Property.
<br />12. Notice. Except for any notice required under applicable law to be given in another manner, (a) any
<br />notice to Borrower provided for in this Deed of Trust shall be given by delivering it or by mailing such notice
<br />by certified mail addressed to Borrower at the Property Address or at such other address as Borrower may
<br />designate by notice to Lender as provided herein, and (b) any notice to Lender shall be given by certified mail
<br />to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower a'!
<br />provided herein. Any notice provided for in this Deed of Trust shall be deemed to have becn given to
<br />Borrower or Lender when given in the manner designated herein.
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