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<br />87-- 101536
<br />if Borrower pays Funds to Lander, the Funds shall be held in an institution the deposits or accounts of which are
<br />insured or guarante -e4 tsv a Federai or state agency iiitu"ing Larder if I� .der is such art 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 />w such a charge. Borrower and Lender
<br />pays Borrower interest an the Funds and applicable la yam- i�
<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 shalt not be required
<br />to pay Borrower any interest or 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 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 Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground tents. shalt 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 Lender
<br />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, 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. Application of Paymetots. Unless applicable law provides otherwise. all payments received by lender under
<br />the Note 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 />4. Prior Mortgage and Deeds of Trust; Charges; Line- Borrower shall perform all of Borrower's obligations
<br />under any mortgage. deed of trust or other security agreement with alien 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, fines and impositions attributable to the Property which may attain a priority over this
<br />Deed of Trost, and leasehold payments or ground tents. if any.
<br />S. Haaard Insurance. 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 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: provided.
<br />that such approval shall not be unreasonably withheld. All insurance policies and renewals thereof shall be in a form
<br />acceptable to Lander and shall include a standard mortgage clause in favor of and in a form acceptable to Lender.
<br />Lender shall have the right to hold the policies and renewals thereof, subject to the terms of any mortgage, deed of trust
<br />r
<br />or other security agreement with a lien which has priority over this Deed of Trust.
<br />`1
<br />In the event of ions, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof
<br />of loss if not made promptly by Borrower.
<br />If the Property is abandoned by Borrower, or if Borrower fails 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 Lender's option either to restoration or repair of the
<br />Property or to the sums secured by this Deed of Trot.
<br />6. Peasrsvadet and Moinomance of Property; L,maehoids; C sidtraialune; Punned Unit D reiepments. Bor-
<br />rower shall keep the Property in good repair and shall not commit waste or pernut impairment or deterioration of the
<br />Property and shall comoly with the provisions of ace.- lease ;f this Deaf of Trust is on a leasehold. If this Deed of Trust is
<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 govermng -.ire condominium or planned unit development, the by -lass and
<br />re— gull —ws of the com—Jol atiridurn or planned unit development. and constituent documents.
<br />7. Proration of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this
<br />Dead of Trust, or if any action or proceeding is commenced which materially affects Leader's interest in the Property.
<br />then Leader, at Lender's option, upon notice to Borrower. may make such appearances, disburse such stuns. includi-1-
<br />reasonable attorneys' fees, and take stcti 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 with
<br />Borrower's and Lender's written agreement or applcable law.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7. with interest thereon. at the Note 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 ymettt
<br />thereof. Nothing contained in this paragraph' shall require Lender to incur any expense or take any action hereunder.
<br />S. Lnapeetion. 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 />9. Gadamuntleo. 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 trust or other security agree-
<br />ment with a lien which has priority over this Deed of Trust.
<br />10. Baeower Not Released; Forbearance By Lander Not a Walver. 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
<br />t Borrower shall not operate to release, in any manner, the liability of the original Borrower and Borrower's successors to
<br />(-.. interest. 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 to interest. Any forbearance by Lander to exercising any right or remedy
<br />hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of anv such right or
<br />remedy
<br />11. Socce"ors sad Amigm Bound; Joint and Srviwal liability; Co- signers. i're o.enants and jvrrernrnt%
<br />hereon cnntained shall howl, and the rights hereunder %hall inure to. the respective %uccr%%on and assigns art Lender and
<br />Wiir_ti -or? vuhlr -_i tci the pruvtstona r, patagraph lh hern,t All cr enanis and afire inems if 11,11ri-rr +hall be pare and
<br />,,a! Ant 11— r,sa,rr ai :rierr -%tgna ltm tfec'il of I rust hot dues n;,t rice, ;utexhe hilite, ia1 1% tit signing this [send of 1 rust
<br />tni: t: jr-W and ;,, vra that tiOtTirart 1 tnterrvi its tt:e prs,,,c - *s t„ In.etre iinrtrr, the terms fit thts Deed ,d I rust 'ht is
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