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'. k \ ,1 " 200700391 '\; i, \ I (Page 3 of 6) ,'" The Funds shaH be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity .'1 (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply t.he Funtls to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Unless an agreement is made in writing or applicable law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds, Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESP A. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESP A. If there is a shortage of Funds held in escrow, as defined under RESP A, Lender shall notify Borrower as required by RESP A, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESP A, Lender shall notify Borrower as required by RESP A, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations under any mortgage, deed of trust or other security agreement with a lien which has priority over this Deed of Trust, including Borrower's covenants to make payments when due. Borrower shall payor cause to be paid all taxes, assessments and other charges, fines and impositions attributable to the Property which may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any. 5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and such other hazards as Lender may require and in such amounts and for such periods as Lender may require. The insurance carrier providing the insurance shall be chosen by the Borrower subject to approval by Lender; provided, that such approval shall not be unreasonably withheld. All insurance policies and renewals thereof shall be in a form acceptable to Lender and shall include a standard mortgage clause in favor of and in a form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, 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. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair is not economically feasible or : ,ender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrun,ent, whether or not then due, with any excess paid to Borrower. If Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may collect: 1e insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this S:curity Instrument, whether or not then due. The 30~day period will begin when the notice is given. If the Property is abandoned by Borrower, or if '30rrower fails to respond to Lender within 30 days from the date notice is mailed by Lender to Borrower that the ins,.rance carrier offers to settle a claim for insurance benefits, Lender is authorized to collect and apply the insurance p'oceeds at Lender's option either to restoration or repair of the Property or to the sums secured by this Deed of Tr.st. Unless Lender and Borrower otherwise agree in riting, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments ' ~ferred to in paragraphs 1,2 and 3 or change the amount of the payments. If under paragraph 19 the Property is a qui red by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the Property pri'r to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediately pri,r to the acquisition. 6. Preservation and Maintenance of Propert: ; Leaseholds; Condominiums; Planned Unit Developments. Borrower shall keep the Property in good repair an" shall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions d 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 planr:d unit development, Borrower shall perform all of Borrower's obligations under the declaration or covenants creati1 g or governing the condominium or planned unit development, the by-laws and regulations of the condominium or planed unit development, and constituent documents. 7. Protection of Lender's Security. If Borrow r fails to perform the covenants and agreements contained in this Deed of Trust, or if any action or proceeding is cor menced which materially affects Lender's interest in the Property, then Lender, at Lender's option, upon notice to Bo rower, 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 )~ this Deed of Trust, Borrower shall pay the premiums required to maintain such insurance in effect until such time a . the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or ap ,licable law. Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the applicab'~ contract rate, shall become additional indebtednt:ss of Borrower secured by this Deed of Trust. Unless Borrower ar.,~ Lender agree to other terms of payment, such amounts shall be payable upon notice from Lender to Borrower reqlj,sting payment thereof. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any actk:l hereunder. 8. Inspection. Lender may make or cause to' e made reasonable entries upon and inspections of the Property, provided that Lender shall give Borrower notice pri;'r to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property. 9. Condemnation. The proceeds of any award 0 claim for damages, direct or consequential, in connection with any condemnation or other taking of the Property, or I lrt thereot, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender, subject to the terms of Iny mortgage, deed of trust or other security agreement with a lien which has priority over this Deed of Trm 12-05-05 DOT NEOOll03 1111111111111111111111111111111111111111111111111111111II 11111 1I';il 111111 11111 III 11111111111111111111111111 1111 III 11111111111111111111111111111111111 *G99128922A79DOT8000NE0011030**GUARD JLA * ORIGINAL