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87-L 6012
<br />applicable law requirer such interest to be paid, Lender shall not be required to pay Borrower any interest or earnim;s on the Funds. Lender shall
<br />give to Borrower, without charge, an annual accounting of the Funds showing cradle trod debits to the Funds and the purpose for wbish each
<br />"t to the Funds was inside. The Funds are pledged as additional security for the sums waged by this Deed of Trust.
<br />If the amount of the Funds held by Leader, together with the future monthly Installments of Funds payable prior to the due dates of rases,
<br />Insurance premiums and ground teats, eased the amount required to pay SW taxies, , Insurance premiums and
<br />ortmad ruts as they fall dux, such excess shall be, at Borrowers option, eltlun promptly repaid to BorTOwer or credited to Borrower on monthly
<br />installments of Funds. If the jimount of the Funds held by Lender shall not be sufficient to pay tam, , Insurance premiums antâ–º
<br />ground rots as they fall due, Sommer shall pay to Leader may amour necessary to snake up the deficiency within 30 days from On date notice
<br />a mailed by Lader to Borrower requesting payment thereof.
<br />Upon payment in full of all sauna secured by this Deed of True, Lender shall promptly refund to Borrower any Funds held by Leader. if
<br />under paragraph I hereof the Property is sod or the Property is otherwise acquired by Leader. Leader shall apply, no later than immediately
<br />per to the sale of the Property or its acquisition by Lender, any Funds held by Leader at the time of application as a credit against the sums
<br />secured by this Deer) of Trust.
<br />3. AhtYamelea of Payswsss. Unless applicable law provider 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, than to the principal of the Note, and then to interest and principal on any Future Advances.
<br />4. Charges; Lien. Borrower shall Pay all tarts, assessments and other charges, fines and impositions attributable to the Property which
<br />may attain a priority over this Deed of Trust, and lasebold payments or ground ruts, if any. in the marina provided under paragraph 2 hereof
<br />or, if am paid in such manna, by Borrower making payment, when dote, directly to the Payee thereof. Borrower shall promptly furnish to
<br />Lamer all notices of amounts dote under this paragraph, and in the event Borrower shall make payment directly. Borrows sball promptly
<br />furnish to Leda receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority ova this Deed of Trust;
<br />provided, that Borrower shall not be required to discharge any such lien so long as Borrower sW agree in writing to the payment of the
<br />obligation secured by such lien in a manna acceptable to Lender, or Shull in good faith contest such lien by, of defend enforcement of such list
<br />in, legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />S. Named Lmseeaaee. Borrower shall keep the improvements now existing or hereafter erected on the Property ' insured spins t lots by fire.
<br />hazards included within the term "extended coverage ", and such other hazards as Lady may require and in rich amounts and for such periods
<br />as Lender may require; provided. that Lender shall no require that the amount of such coverage exceed then amount of coverage required to gay
<br />the suns secured by this Deed of Trust.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lads; provided. that such approval
<br />shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner provided under Paragraph 2 hereof or, if not
<br />paid in such manner, by Borrower making payment. when due, directly to the insurance carrier.
<br />All insurance pobcia and renewals thereof shall be in form acceptable to Lender and "include a standard mortgage cieuse in favor of
<br />and in form acceptable to Leader. Leach shall have the right to hold the policies and renewals thereof. and Borrower shall promptly furnish to
<br />Wider all renewal notices and all receipts of paid premiums. In the event of dos. Borrower shall give prompt notice to the insurance carrier and
<br />Leader. Leader may make proof of loss if not made prey by Bar
<br />Unless Larder and Borrower otherwise agree in writing. insurance proceeds she" be appi®d to rcMOMtkDR or repair of the Property
<br />damaged, provided such restoration or repair is economically feasible and the security of this Dad of Trust is am thereby impaired. If such
<br />renonsion or repair is not economically feasible or if the security of this Deed of Taut would be hespeared. the insurance proceeds shall be
<br />applied to the sums secured by this Decd of Trust, with the excess, if any, paid to Borrower. If the Property N 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 knwrance Carrier offers to
<br />sank a claim for insurance benefits. Leader is authorised to collect and apply the insurance proceeds at Lender's option either to restoration or
<br />repair of the Property or to the stems secured by this Deed of Trust.
<br />Unless Ltaada and Borrower otherwise agree in writing, any such application of proceeds to pria,apal shall not attend or postpone the due
<br />due of the monthly installments referred to in paragraphs I and 2 bersof or change the amount of such imtaLimau. If under paragraph lit
<br />hereof the Property is acquired by Lender, all right, title and Interact of Borrower in and to say insurance IsoBdea and in and to the prooeeds
<br />thereof resulting from damage to the Property prior to the sale or acquisition shall pass to Lender to the extent of the sums secured by this Deed
<br />of Toast immediately prior to such sale or acquisition.
<br />6. Pranevade and FYiNmmeax of Pmp@M; LA=wbdk,. CaMaralrr Plaaaw Unit Deeelatrsesw. Borrower shall keep the
<br />property hn stood repair and shall cwt commit waste or permit impairment or deterioration of the Property std shall comply with the provisions
<br />of any lease if this Deed of Trust is on a kuehoid. If this Dad of Trust is on a unit in a condominium or a planned unit development, Borrower
<br />shall perform all of Borrower's obligations under the declaration or covenants crating 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 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 rider were a Part
<br />hereof.
<br />7. Protection of L,emder's Swerity. 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, code enforcement, or arrangements or proceedings involving a bankrupt or decedent, then Lender at Lender's option, upon notice
<br />to Borrower, may make such apparances, disburse such sutras 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 snake repairs. If Lender required mortgage insurance
<br />ns a coach ion of making the loan secured by this Deed of Tres, 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 />law. Borrower shall pay the amount of all mortgage insurance premiums in the manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Leader pursuant to this paragraph 7, with interest thereon, shall become additional indebtedness of Borrower
<br />secured by this Deal of Try, Unless Borrower and Leda agree to other terms of payment, such amounts shall be Payable upon notice from
<br />bender to Borrows requesting payment thereof, and shall bear interest from the date of disbursement at the rate payable from time to time on
<br />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 rue permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any
<br />expense L of taixe my action bereunder.
<br />g, Imqsaftm. Lender may maize or awe to be made reasonable entries upon and inspections of the Property, provided that Lender shall
<br />gimr prior to say such Inspectim specifying reasonable cause therefor related to Leader's into in the Property.
<br />1. CAnde ssaNs. The proceeds of any award or claim for damages, direct or consequential. in connection with any condemnation or
<br />other Wring of Me Property. or part thereof. or for conveyea.a 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 lied of Trust, with the excess, if zany,
<br />paid to own. In the ev,at of a partial taking of the Property. unless grower and Lander otherwise agree in writing, there shall be applied
<br />to the by this Deed of Trust such proportion of the proceeds as is equal to that proportion which the amount of the sums %murrd
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