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bl— 102507
<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 purlwse 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 data of taxes,
<br />"Nummts, insurance premiums and ground rents, shall exceed the amount required to pay said tares, assessments, insurance premiums and
<br />Found 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 />itsatallmwsts of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessmmta, insurance premiums and
<br />Ftnitsd rents as they fail due, Borrower shall pay to Lender any amount necessary to
<br />is mailed by Lender to Borrower requesting payment thereof, make up the deficiency within 30 days from the date notice
<br />Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any Funds held by Lender. If
<br />under Paragraph 1g 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 Lender at the time of application as a credit
<br />secured by this Deed of Trust. against the sums
<br />3. ANNca less of p'aysateas. Unless applicable law provides otherwise, all
<br />and 2 hereof shall be applied by Lender first in Payments received by [.ender under the Note and paragraphs I
<br />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 />a• Charges; LIM. Borrower shall pay all taxes, assessments and other charges, fines and impositions
<br />may attain a priority over this Deed of Trust, and leasehold attributable under the Property which
<br />OF, if not Payments or ground rents, if any, in the manner provided undtt paragraph 2 hereof
<br />paid in such manner, due 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 />m, legal Proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof, 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 />S. Hastard [assurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against 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 required to pay
<br />the sums secured by this Deed of Trust.
<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 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 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 right to hold the policies and renewals thereof, 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
<br />damaged, provided such restoration or repair is economically feasible and the security of this Deed of Trust is not ther impaired. the Properly
<br />restoration or repair is not economically feasible or if the security of this Deed of "Trust would be impaired, the insurance proceeds if such
<br />applied to the sums secured by this Deed of Trust, with the excess, if any, paid to Borrower. If the Property is abandoned by Borrower, olrbif
<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, Lender is authorized to collect and apply the insurance 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 1 and 2 hereof or change the amount of such installments. If under paragraph IS
<br />hereof the Property is acquired by Lender, all right, tide 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 to Lender to the extent of the sums secured by this Deed
<br />of Trust immediately prior to such sale or acquisition.
<br />a• rreserratiaa sad Mahleaaaee of
<br />Property in and re property; Leaseholds; CoadossiMams; Planned Unit Developments. Borrower shall keep the
<br />a pair and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions
<br />of any lease if this Deed of Trust is on a leasehold. If this Deed 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 creating 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 ride 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. Prolaeeion of Leader's Security. If Borrower fails to
<br />action or proceeding is commenced which materially affects L perform
<br />interest covenants
<br />Property, including, contained
<br />but not limited Deed
<br />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 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 making the loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain such insurance in effect
<br />law. Borrower shall pay the amount of all
<br />until such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable
<br />mortgage insurance premiums in the manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional indebtedneu of Borrower
<br />secured by This Deed of Trust. Unless Borrower and
<br />Leader to uesti Lend agree to other terms of payment, such amounts shall be payable upon notice from
<br />el ng 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 contrary to applicable law, in which event such amounts
<br />SW bear interest at the highest rate permissible under applicable law. Nothing contained in this
<br />expense or take any Action hereunder, Paragraph 7 shall require Lender to incur any
<br />g. [npsetlas. Lender may make or cause to be made reasonable entries u
<br />give Borrower notice prior to any such ins Pon and inspections a the Property, provided that Lender shall
<br />� C inspection specifying reasonable cause therefor reload to Lender's interest in the
<br />esd waatlea. The Proceeds of any award or claim for damages, direct or con Property.
<br />other taking of the Property, or Part thereof, or for conveyance in lieu of condemnation, are he hereby Assigned and tshall he paid to,l cndenation or
<br />In the evert of a total taking of the Property, the proceeds shall he applied to the surtu.s secured by this heed ut Trust, with the excess, d any,
<br />paid to Borrower. In the event of a partial taking of the Property, unless Poll and Lender otherwise uger in wrifina, 11h t shall excess. any. rd
<br />to the sums secured by this heed of'llust such protx,rtiuo of the proceeds as is rqual to that propomo t which rile au,UlArl, of she sums sevurrd
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