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<br />200703355
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<br />I f Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of which
<br />are insured or guaranteed by a federal or state <lgency (including Lender if Lender is such <In institution), Lender shall
<br /><lpply the Funds to pay said taxes, assessments, insurance premiums and ground rents. Lender may not charge for so
<br />holding and applying the Funds, analyzing said account or veritying and compiling said assessments and bills, unless
<br />Lender pays Borrower interest on the Funds and applicable law permits Lcnder to make such a chargc. Borrower and
<br />Lcnder 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 required such interest to be puid, 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 ofTrusL
<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
<br />of the Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as
<br />they fall due, Borrower shall pay to Lender any amount necessury 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,
<br />any Funds held by Lender at the time of application as a credit against the sums secured by this Dced of Trust
<br />3. Applicat'ion 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 Pllyable to Lender by
<br />Borrower under paragraph 2 hereof, then to interest payablc on the Note, and then to the principal of the Note.
<br />4. Prior Mllrtgages \lnd Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's
<br />obligations under any mortgage, deed of trust or other security agreement with (I lien which has priority over this
<br />Deed of Trust, including Bon'ower's covenants to make payments when duc. Borrower shall payor cause to be paid
<br />lllltaxcs, assessmcnts and other charges, lines and impositions attributable to the Property which may attain a priority
<br />over this Decd ofTl'ust, and lcnsehold payments or ground rents, if any.
<br />S. HlIZllrd InsUl'ancc. Borrower shull keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the tenn "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
<br />in a form acceptable to Lender and shall include a standard mortgage clause in favor of und in a foml acceptable to
<br />Lender. Lender shall have the right to hold the policies and renewals thereof, subject to the terms of ony mortgage,
<br />deed of trust or other security agreement with a lien which has priority over this Deed ofTrus!.
<br />In the event of loss, Borrower shall give prompt notice to Ule insurance carrier and Lender. Lcnder may make
<br />proofof loss if not madc promptly by Borrower.
<br />If the Property is abandoned by Borrower. or if Borrower fails to respond to Lender within 30 days from the
<br />date notice is mailed by Lemler to Borrower that the insurance carrier offers to settle a claim for insurance benefits,
<br />Lender is authorized to collect and apply the insurance proceeds at Lender's option either to restoration Dr repair of
<br />the Property or to the sums secured by this Deed ofTrusL
<br />6. Preservation und Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments.
<br />Borrower shall keep the Property in good repair and shall not commit waste or permit impaimlenL 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 Lcnder's Security. If Borrower fails to perform tile covenants and agreements contained in this
<br />Deed of Trust, or if any action or proceeding is commenced which mulerially affccts Lender's interest in the
<br />Propcrty, thcn Lender, at Lender's option. upon notice to Borrower, may l11:1kc such appeurances. disburse such
<br />SUl11S, including rcasonable uttorneys' fces, and take such action as is necessary to protect Lender's intercst. I f Lender
<br />required mortgage insurance as a condition of making the loan secured by this Deed of Trust, Borrower shall pay thc
<br />prcmiums required to maintain sllch insurance in effect until such time as the requirement for such insurance
<br />tC1111inutes in accordance with Borrower's and Lender's written agreement or applicable law,
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<br />076N(NE) (0:;\19)
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<br />Paga 3 of 7
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<br />1",lials;~29
<br />Form 3828
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<br />2007-862321
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<br />100049700008623213
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