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87- 101510
<br />If Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of which are
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<br />.,.,_..,_...o mr �r teM by a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply
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<br />the Funds to pay said taxes, assessments, insurance premiums and ground rents. Iender may not charge for so holding
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<br />and applying the Funds, analyzing said account or verifying and compiling said assessments and bills, unless Leader
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<br />pays Rorrower 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 Deed 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 or earrings 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 each debit to the Funds was
<br />made. The Funds are pledged as additional security for the sums secured by this Deed of Trust.
<br />If the amount of the Funds held by Under, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes. assessments. insurance premiums and ground torts, sh.Al exceed the amount required to pay said
<br />taxes, assessments, insurance premiums and ground rents as they fall due. such excess shall be, at Borrowers 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 Lender
<br />may require.
<br />Upon payment in full of all sums secured by this Deed of Trust. tender 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, any
<br />Funds held by Lender at the time of application as a credit against the sums secured by this Deed of Trust.
<br />3. Applicatiae of PaYresets. Unless applicable law provides otherwise. all payments received by Lender under
<br />the 'rote and paragraphs i and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by
<br />Borrower under paragraph 2 hereof, then to interest payable on the Note. and then to the principal of the Note.
<br />i. Prior *4oi4ft a sad Doo& of Test; Charts; IJeas. Borrower shall perform all of Borrower's obligations
<br />sailer 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 shall pay or cause to be paid all taxes.
<br />assessments and other charges. frees and impositions attributable to the Property which may attain a priority over this
<br />Deed of'a rust. and ieasehoid payments or ground rents, if any.
<br />S. Hazard Isativoi s. 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 Leafier
<br />may require and in such amounts and for such periods as Lender may require.
<br />Me insurance carrier proe iding the insurance shall be chosen by Borrower subject to approval by Lender: provided,
<br />that such: appal shad not be unreasonably withheld. All insurance policies and renewals thereof shall be in a facto
<br />acceptable to Leader and &hall include a standard mortgage clause in favor of and in a form acceptable to Lender.
<br />Lender shall have the right to hold the polies and renewals thereof. subject to the terms of any mortgage, deed of trust
<br />or other sectrm agreement wrth a lien which has priority over this Dead of Trust.
<br />In the event of loss. Borrower shall gme pr omp: notice to the insurance carrier and Lender. Lender may make proof
<br />of loss if oat made promptly by Borrower.
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<br />If the Ptopem is abandoned by Borrower, or if Borrower faiis to respond to Lender within 30 days from the date
<br />notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits. Lender is
<br />authorized to collect and apply the insurance proceeds at I&Mier's option either to restoration or repair of the
<br />Property or to the i mts Secured by this Deed of Trust.
<br />6. god MAhroossaicit of Preps: ; ' Planned Unit Develegaments. Bor-
<br />rower shall keep the Property in good repair and shall not commit waste or permit impairment or detenoration of the
<br />Property and shall comply with the provisions of any least'! ,his Deed of Trust is on a ieasehoid. If this Deed of Trust ts
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<br />on a unit in a condominium or a planned unit development. Borrower shall perform all of Borrower's obligations under
<br />the declaration or covenants creating or governing the condominium or planned unit development. the by -laws and
<br />regulations of the condominium or planned unit development, and constituent documents_
<br />7. Protsctioe of Leader's Soci rfty. if Borrower faiis to perform the covenants and agreements contained in tha
<br />Decd of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Property.
<br />then Leader. at Lender's option, upon notice to Borrower. may make such appearances. disburse such stems. including
<br />reasonable artsorne-rs' fes, and take such action as is n— ecessary to- protect tinder's i_merest. If Lender required mortgage
<br />insurance as a ccndition of making the loan secured by this Deed of Trust. Borrower shall pay the premiums required to
<br />maintain such insurance in of ect until such time as the requirement fie such insurance terminates in accordance with
<br />Borrower's and Lender's written agreement or applicable law.
<br />Any amounts disbursed by Lender pursuant to this paragraph '. with interest thereon. at the Note rate. shall
<br />become additional indebtedness of Borrower secured by this Reed of Trust. Unless Borrower and Lender agree to
<br />other terns of payment, such amounts shall be payable upon notice from Lender to Borrower requesting p yment
<br />thereof. Nothing contained in this paragraph 7 shall require Lender to hear any expense or take any action hert.;inder.
<br />S. Impaction. Lender may make or cause to be made reasonable entries upon and inspections of the Property.
<br />provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor
<br />related to Lender's interest in the Property.
<br />9. Condoomisfiros. The proceeds 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, are
<br />hereby assigned and shall be paid to Lender, subject to the terms of any mortgage. deed of trait or other security agree-
<br />ment with a lint which arms priority over this Dead of Trust.
<br />10. Boviewar Not Released; Forbearance By Lender Not a Waiver. 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 to interest of
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<br />Borrower shall not operate to release, in any manner, the liability of the original Borrower and Borrower's successors in
<br />intermt. Lender shall not be required to commence proceedings against such successor or refuse to extend time for pay-
<br />ment or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any demand made by the
<br />original Borrower and Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy
<br />hereunder_ or otherwise afforded ty applicable law, s.iall not he a waiver of or preclude the exercise tit any such right or
<br />remedy +
<br />I1. Succasan and Melts B.smd; Joint and Se+eral Liability; Co- signers. f he onenants and agrtefients
<br />herein contained drat( hind and the nghts hereunder shall inure te,. the mpecttve successtin and usstgns ,1t Lender and
<br />I'om, i - whirct to the prvvtseons A paragraph Iry turret,[ All covenants and a¢rnrments to Morro+ r s!iail +,e punt ,end
<br />vernal i.ny R,,rr,+ et vehoo, sjim thts Devi d Irunt. nut dots n(V rtn-urr the Vnfr ta) IS ro %igntng thn Dent or Trust
<br />Wirtower ,hr Pnq,rrtv buster ls-rd 1
<br />.,ni. t-, rttant anus convrq that s tntrrrst to t., under the term. t,t this „t rust.,hi is
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