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87-100797
<br />if Borrower pays Funds to Lender. the Funds shall be held in an institution the deposits or accounts of which are
<br />insured or guaranteed by a Federal or state agency (including Lender if Lander is such an institution). Lender shall apply
<br />the Funds to pay said taxes, assessments, insurance premiums and ground rents. Lender may not charge for so holding
<br />and applying the Funds, analyzing said account or verifying and compiling said assessments and bills. unless Lender
<br />pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender
<br />may agree in writing at the time of execution of this Dead of Trust that interest on the Funds shall be paid to Borrower,
<br />and unless such agreement is made or applicable law requires such interest to be paid. Lender shall not be required
<br />to pay Borrower any interest o earnings on the Funds. Lender shall give to Borrower. without charge, an annual
<br />accounting of the Funds showing credits and debits to the Funds and the purpose for which ruch debit to the Funds was
<br />made. The Funds an pledged as additional security for the sums secured by this Deed of Trout.
<br />if the amount of the Funds held by Lender. together with the future monthly installments of Funds payable prior to
<br />the due data of taxer, assessments, insurance premiums and ground rents. shall exceed the amount required to pay said
<br />taxes, assessments. insurance premiums and ground rents as they fall due. such excess shall be. at Borrower's option.
<br />either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the .
<br />Funds held by Lender shall not be sufficient to pay taxes. assessments• insurance premiums and ground rents as they fall
<br />due. Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as Leader
<br />may require.
<br />Upon payment in full of all suns secured by this Dead of Trust. Lender shall promptly refund to Borrower any
<br />Funds held by Lender. If under paragraph C hereof the Property is sold or the Property is otherwise acquired by
<br />Lender. Lender shall apply. no later than immediately tenor to trite sale of the Property or its acquisition by Lender. any
<br />Funds held by Lender at the time of application u a credit against the sums secured by this Dad of Trust.
<br />3. AppRemdw of lsymmail. [finless applicable law provides otherwise. all payments received by tinder tender
<br />the Note and paragraphs I and 2 hereof shall be applied by Lender first in payment of amounts payable to Linder by
<br />Borrower under paragraph 2 hereof. then to interest payable on the Note- and then to the principal of the Note.
<br />4. PAW MWIN gse od Daoi of Tent: Charges-, Luau. Borrower shall perform all of Borrowers 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 shalt pay or cause to be paid all tags,
<br />assessmtots and other charges• fines and imptsitioi s attributable to the Property which may attain a priority over this
<br />Deed of Trust. and leasehold payments or ground rears. if any.
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<br />S. Homd I�atteaaao• Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage . and such other hazards as Leader
<br />may requite and in such amounts and for such periods as Lender may require.
<br />'Me insurance carrier providing the insurance shall he chosen by Borrower subject to approval by Lender- provided_
<br />that such approval shall not be unreasonably withheld. All insurance policies and renewals thereof shall be in a form
<br />acceptable to Leader and shall include a standard mortgage clause in favor of and in a forte acceptable to Leader.
<br />shall have the right to hold the policies and renewal thereof, subject to the terms of any mortgage, deed of truss
<br />slit other security agreement with a lien which has priority over this Dead of True-
<br />In tux event of lou. Borrower shall give Prompt notice to the insurance carrier and Lcuder. tender may make proof .
<br />of loss if not made promptly by Borrower.
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<br />If the Property is abandoned by Bonvwer. or if Borrower fails to -CSVOnd to Lender within 30 days from the dart
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<br />notice s mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance buts, L ender u
<br />Authorized to collect and apply the insurance proceeds at tender's option either to restttion or repair the
<br />Trust-
<br />Property or to the stems secured 1,y this Dard of Trust-
<br />0. IP n V aiaa awl [Malaaeamew of Irro�ety: Lsaeko z Cwdnati�s: Planned bait Devdo�. Igor
<br />6.
<br />shall keep the Property in good repair and shall not emit waste or permit �mpattiaeat or deterioration of the
<br />Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. If this Treed of Trust is
<br />on a unit is a condom inium or a planned unit development. BotTMser shall perform ail of Borrower's obligations under
<br />the declaration or covenants creating or governing the condominium or planned unit development. the by -taws and
<br />regulations of the condominium or planned unit development, and constituent documents.
<br />7. leoaaetiaa ei Laadae's Semi". If Borrower fails to perform the covenants and agteeraentt contained in tits
<br />Deed of TnuL or if any action or proceeding is commenced which materially affects Lender s iateresr in the Property -
<br />then Leader. at Lender's option. upon *lice 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 yxit -n
<br />Borrower's ower's and Leader's written agreement or applicable law.
<br />Any amounts disbursed by Leader pursuant to this paragraph ", with interest thereon. at the ?vote rate. shall
<br />become additional indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to
<br />other terms of payment, such amounts shall be payable upon notice from Lender tO Borrower requesting p :tgeaW
<br />thereo`. Nothing contained in that paragraph 7 shall require tender to incur any expense or take any action hereunder.
<br />S. Imp 6m. Leader may make or cause to be made reasonable entries upon and inspections of the Property.
<br />Provided that [ender shall ' Borrower notice prior to any such inspection specifying reasonable cause therefor
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<br />related to Lender's interes t in the Property.
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<br />9. CwdmmaWaa. The proceed_ s of any award or claim for damages. direct or consequential, in connection with
<br />any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. arc
<br />hereby assigned and shall be paid to Lender, subject to the terms of any mortgage. deed of trust or other security agree -"
<br />meet with a lien which has priority over this Deed of Trust.
<br />!0. On na 14W Rohaeod: Farber wmm By ieader Yes a Weaver. Extension of the time for payment or
<br />modification of amortization of the sums secured by this Deed of Trust granted by Lender to any successor in interest A
<br />Borrower shall not operate to release, in any manner, the liability of the original Borrower and Borrower's successors in
<br />interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time fax pay-
<br />ment or otherwise modify amortization of the sums secured by this Dead of Trust by reason of am dentand mad: by tite
<br />-- gins Borrower and Borrower's successors in interest- Anv forbearance by Ixnder in exercising any tight or rcmttiy
<br />hereunder, or otherwise afforded by applicable iaw shall not be a waiver of or rrevlude the extrGise. �,t ant zuch right .0
<br />remedy
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<br />t 1. Sarswavv cud Aripw Bowed: bile and Several Liability: Co-signers. F he ,r-- enant, and agrer!ner's
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<br />4erein contained shall hind and the rights hereunder shall !nun !u. he r "irwoe,e .,col '! 1 mart ant
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