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200700674 If Borrower pays FlUlds to Lender, the Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments, insurancc premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account or verifying and compiling said asscssmcnts and bills, unless Lender pays Borrower intercst on thc Funds and applicable law permits Lender to make such a charge. Borrowcr and Lender may agree in writing at the time of execution of this Decd of Trust that in[(:rest on the Funds shall be paid to Borrower, and unlcss such agreement is made or applicable law required such interest to be paid, Lcndcr shall not be required to pay Borrower any interest or earnings on thc Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Deed of Trust. If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as Lender may require. Upon payment in full of all sums secured by this Deed oflrust, Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums sccurcd by this Deed of Trust. 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the Notc and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower undcr paragraph 2 hereof, then to interest payable on the Note, and then to the principal ofthc Note. 4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrowcr shall perform all of Borrower's obligations under any mortgagc, deed of trust or other security agreement with a lien which has priority over this Dced of Trust, including Borrower's covenants to make paymcnts when due. Borrower shall pay or cause to be paid all taxes, assessments and other chargcs, 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. S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on thc Propcrty 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 Borrower subjcct to approval by Lender; provided, that such approval shall not be unreasonably withheld. All insurance policies and renewals thercof 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 tbe right to hold the policies and renewals thereof, subject to tbe 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. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date notice is mailed by Lender to Borrower tllat the insurance carrier offers to settle a claim for insurance benefits, Lender is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property or to the sums secured by this Deed of Trust. 6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower shall keep the Property in good repair and sball 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 Rorrower'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. In~i.IS:~ ~ _ -76N(NE) (0509) o DDS-NFF Page 3 017 Form 3828