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8 � 10179
<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 and 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 sutras 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 cl ie, 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 Funds 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 Dad of Trust, Lender shall promptly refund to Borrower any Funds held by Lender. 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 We of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums
<br />secured by this Deed of Trust.
<br />3. Appli adoo of Payments. Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs I
<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 principd on any Future Advances.
<br />4. Ciarges; Lens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which
<br />tray attain a priority over this Dad of Trust, and leasehold payments or ground rents, if any, in tie manner provided tender 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 />S. hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against toss by fire,
<br />hazards included within the term "extended coverage ", and such other hazards as Lenda mat 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 cc- c=W exceed that amount of coverage required to pay
<br />the stems secured by this Deed of Trust.
<br />The insurance carrier providing the insurance sha?i be chosen by Borrower su?*;cin ._ AVVrc -a! by Lender; provided, that such appn)vml
<br />shall not be unreasonably withheld. All premiums on insurance policies shall be pw m :ere -a=aer provided under paragraph 2 hereof or, if not
<br />paid in such manner, by Borrower making payment, when due, directly to the :ns -xz= car-re
<br />All insurance policies and renewals thereof shall be in form acceptabie to Lem and snaL mcude a standard mortgage clastse in favor of
<br />and in form acceptable to Lender. Lender shall have the right to hold the pobaa and rmewais thereof, and Borrower shall promptly furnish to
<br />Lender all renewal notices and all receipts of paid premiums. In the event of lass.. Bon-owe: saai g=«-e prompt notice to the insurance arr,a 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 ponces 1 shall be applied to restoration or repair of the Property
<br />damaged, provided such 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 Dad of Trust would be impaired, the insurance proceeds sbaii be
<br />applied to the stems secured by this Deed of Trust, 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 Bost wet that the insurance carrier offers to
<br />settle a claim for insurance benefits, Lender is authorized to collect and apply the mscracce proceeds at Lender's option either to restoration or
<br />repair of the Property or to the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due
<br />date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of such installmems, If under paragraph 19
<br />hereof the Property is acquired by Lender, all right, title and interest 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 acquisition shall pass t^ Lends to the cum of the sums secured by tics Deed
<br />of Trust itttrnedia:r3y prior to such We or acquisition.
<br />6. Pireservatioa will Mainwasi a of Property; L.easel oW Codeaftianss-, Maned Uafa DetrdapmeW. Borrower shall keep the
<br />Property is good repair and shall no commit waste or permit impairment or deterioration of the Property and shall comply with the ptovitioas
<br />of any leas,- if this Deed of Trust is on a leasehold- If this Deed of Trust is an a unit in a cow or a planned unit development, Borrower
<br />shall perform a:i of BorTower's obligations under the declaration or covenants a-eating or governing the condominium or planned unit
<br />development- the 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 Dar! of Trust, the covenants and agreements of such
<br />rider shall be mcc- porated into and shall amend and supplement the covenan=, and agreements of ;his Deed of Trutt as if the rider went apart
<br />hereof-
<br />,. Protection of Leader's Security. If Borrower fails to perform the :ovenants and agreements contained in this Deed of Trust, or if any
<br />action or proceecing is commenced which materially affects Lender's interest in the Property, including, but not limited to, eminent domain,
<br />insolvency, code enforcement, or arrangements or proceedings involving a bankrupt ar decedent, then Lender at Lender's option, upon notice
<br />to Borrower, may make such appearances, disburse such sums and take such action as is necessary to protect Lender's interest, including, but
<br />not limited to, disbursement of reasonable attorney's fees and entry upon the Property to make repairs- if Lender required mortgage insurance
<br />_ as a condition of makina the loan secured bv_ this Deed of Trust- Borrower shall my the tnem;um& required in m +immin —h i m r— in effecr
<br />until such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable
<br />law. Borrower shall pay the amount of all mortgage insurance premiums in the manner provided under paragraph 2 h -,.*f.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shat' beccme 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 from 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 coniran 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 />S. Impection. Lender tray 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. Coademnadom. The proceeds of any award or claim for damages. direct or consequential, in connection with any condemnation or
<br />other taking of the Property, or pan 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 exams, it any.
<br />paid to Borrower In the event of a partial taking of the Property, unless Borrower and Lender otherwise agree in writing, there shall be ipplicd
<br />to the sums ,ecuied by this feed of Trust such proportion of the proceeds as is equal to that proportion which the amount of the sums sevurcu
<br />of
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