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ST- 101593
<br />applicable law requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall
<br />give to Borrower, without charge, an annual accounting of the Funds showing credits artd debits to the Funds and the purpose for which each
<br />debit to the Funds was 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 the due dates of taxes,
<br />assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes, assessments, insurance premiums and
<br />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
<br />installments of Funds. If the amount of the Ruids held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and
<br />ground rents as they fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice
<br />is mailed by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Decd of Trust, Lender shall promptly refund to Borrower any Funds held by Leader. If
<br />_ under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later than immediately
<br />prior to the sale of the Property or its acquisition by Lender, any Funds held by Linder at the time of application as a credit against the soars
<br />secured by this Deed of Trust.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs f
<br />and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof, then to interest
<br />payable on the Note, then to the principal of the Note, and then to interest and principal on any Future Advances.
<br />4. Charges, Liens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which
<br />may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any, in the manner provided under paragraph 2 hereof
<br />or, if not paid in such manner, by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish to
<br />Lender all notices of amounts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly
<br />furnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Deed of Trust;
<br />provided, that Borrower shall not be required to discharge any such lien so long as Borrower shall agree in writing to the payment of the
<br />obligation secured by such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien
<br />in, legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured agaiml loss by fire,
<br />hazards included within the term "extended coverage ", and such other hazards as Lender may require and in such amounts and for such periods
<br />as Lender may require; provided, that Lender shall not require that the amount of such coverage exceed that amount of coverage requited to pay
<br />the sums secured by this Deed of Trout.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided, that such approval
<br />shall not be unreasonably withheld. All premiums on insurance polaes shall be paid in the manner provided under paragraph 2 hereof or, if trot
<br />paid in such manner, by Borrower making payment, when due, directly to the insurance carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable to lender and shall include a standard mortgage clause in favor of
<br />and in form acceptable to Lender. Lender shall have the tight to hold the policies and renewals themf. and Borrower shall promptly furnish to
<br />Lender all renewal notices and all receipts of paid premiums. In the event of loss. Borrower shall give prompt notice to the insurance carrier and
<br />Lender. Lender may make proof of loss if not made promptly by Borrower .
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property
<br />damaged, provided stitch restoration or repair is economically feasible and the security of this Deed of Trust is not thereby impaired. If such
<br />restoration or repair is not economically feasible or if the security of this Deed of Trust would be impaired, the insurance proceeds shall be
<br />applied to the sums secured by this Deed of Truest, with the excess. if any, paid to Borrower. if the Property is abandoned by Borrower, or if
<br />Borrower fails to respond to Lender within 30 days from the date notice is mailed by Lender to Borrower that the insurance carrier offers to
<br />settle a claim for insurance benefits. Linder is authorized to collect and apply the insurance proceeds at Leader's option either to restoration or
<br />repair of the Property or to the sums secured by this Deed of Trust.
<br />Unless Lewder and Borrower othemvise agree in writing, any such application of proceeds to principal shall not extend or postpone the dux
<br />date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments. If under paragraph 18
<br />hereof the Property is acquired by Lender, all right, title uid intent of Borrower in and to any insurance policies and in and to the proceeds
<br />thereof resulting from damage to the Property, prior to the sale or tuquuition shall pass to Lender to the extent of the atoms secured by this Deed
<br />f of Trust immediately prior to such sale or acquisition.
<br />6. Presenad" and Malaoauee of Propetrty; Limsehoitis; Coniomohlos; Phtsuad Link DerdopmenY. Borrower shall keep the
<br />f Propetty in good repair and shall not commit waste or perrtut impairment or deterioration of the Property and shall comply with the provisions
<br />j- of any lease if this Deed of Trust is on a leasehold. I f this Deed of Trust is on a unit in a condominium or a planned unit development, Borrower
<br />shall perform all of Borrower's oblgatioms under the declaration or covenants creating or governing the condominium or planned unit
<br />development, he by -laws and regulations of the condominium or planned unit development, and constituent documents. If a condominium or
<br />planned unit development rider is executed by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such
<br />rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Deed of Trust as if the Cider were a part
<br />hereof.
<br />7. Protection of Leader's Security. If Borrower fails to perform the covenants and agreements contained in this Deed of Trust, or if any
<br />action or proceeding is commenced which materially affects Lender's interest in the Property. including, but not limited to, eminent domain,
<br />insolvency, rode enforcement, or arrangements or proceedings involving a bankrupt or decedent, then Lender at Lender's option, upon notice
<br />to Borrower, tnay make such appearances, disburse such stems and take such action as is necossan to protect Lender's interest, including, but
<br />not limited to, disbursement of reasonable attorney's fors and entry upon the Property to make repairs. If Lender required mortgage insurance
<br />as a condition of snaking the loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain such insurance in effect
<br />until such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable
<br />Ian. Bcfroweir shall pay the atitrsttnt of all saruxga gc -su— Wig:: i u`3t�FZS ,F. Esc — Ft�� -�: t�- ^�-� ,.• -�-= �r� w- =, =- ,a..��:.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon. shall become additional indebtedness of Borrower
<br />secured by this Dad of Trust. Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable upon notice from
<br />Lender to Borrower requesting payment thereof, and shall bear interest front the date of disbursement at the rate payable from time to time on
<br />outstanding principal under the Note unless payment of interest at such rate would be contrary to applicable law, in which event such amounts
<br />shall bear interest at the highest rate permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any
<br />expense or take any action hereunder.
<br />11. laspectim. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided that Lender shall
<br />give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property.
<br />9. C canoe aeadoa. The proceeds of any sward or claim for damages, direct or consequential, to connection with any condemnation or
<br />other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. are hereby assigned and shall be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Deed of Trust, with the excess, of any,
<br />paid to Borrower In the event of a partial taking of the Property, unless Borrower and Lender otherwise agree to writing, there shall be applied
<br />to the uem% ,e ufed by this tierce of Trust such proportion of the proceeds as is equal to that proportion which the amount of the sums secured
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