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<br />applicable law requires such interest to be paid, tender 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 sums secured by this Deed of Trust.
<br />If the amount of the Fonds held by Lender, together with the future monthly installments of Funds payable prior to the due dates of taxes,
<br />aasessmil s, insurance premiums and ground rents, shall exceed the amount required to fay 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 numthly
<br />installments of Funds. if the amount of the Funds held by Lender shall not be sufficient Io fay taxes, assessments, insurance premiums and
<br />ground riems as they fall due, grower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice
<br />is maims 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 Ig hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later than immediately
<br />to the sale 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 />sauced by this Dept of Trust.
<br />3. A plicaboe of Payusesta. Unless applicable law provides otherwise, all
<br />and 2 hereof shall be a payments received by Lender under the Note and paragraphs 1
<br />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• Cbwsm; IJow. Borrower shall pay all taxes, assessments and other charges, fines and impositions
<br />may attain a priority over this feed of Trust, and leasehold payments or ground rents, if any, in the manner provided ided under the Property which
<br />or, if not paid in such manner, by Borrower making paragraph 2 hereof
<br />g 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 Dad 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 ttwravice. 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 harards as Lender may require and in such amounts and for such periods
<br />as Lender may require; provided, that Lender shall 'lot require that the amount of such coverage exceed that amount of
<br />the sums secured by this Deed of Trust. coverage required to pay
<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 ages in writing, insurance proceeds 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 of if the security of this Iced of Trust would be impaired, the insurance proceeds shall be
<br />applied to the suns secured by this feed of Trust, with the excess, if any, pail 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 />smile 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 of to the sums secured by this Deed of Trust.
<br />Unkss Lender and Borrower otherwise Agra 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, title and interest of Borrower in and to any insurance
<br />thereof resultinng from damage to the Pr policies and in and ed the proceeds
<br />Property prior to the sale or acquisition shall pass to Lender to the extent of the sums secured by this Deed
<br />of True immediately prior to such sale or acquisition.
<br />!. Preservation Aaw MAftltewce of pf•MrrY: LsASAaib: C tau: Pbared lilt
<br />Property in good repair and shall not commit waste or fib• Borrower shall keep the
<br />Permit impairment or deterioration of the Property and "]comply with the provisions
<br />Of any kale if this Deed of Trust is on a Inseleofd. If this Deed of Trust is on a unit in a condominium or a planted unit development. Borrower
<br />sW perform all of Borrower's obligations under the declaration or covenants creating of governing the condominium or planned unit
<br />Planned the by -laws and regulations of the condominium or planned unit development, and constituent documents. if a condominium or
<br />amt development nor 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 "I amend and supplement the covenants and agreements of this Deed of Trust as if the rider were a pan
<br />hereof.
<br />7, Prele"JI • of LMWW's hserrNy. If Borrower fails to
<br />�� or a perform the covenants and agreements contained in this Deed of Trust, or if any
<br />pr ng is commenced which materially Affects Lenders 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, nay, make such appearances, disburse such sums and take such action as is necessary
<br />t� Brats► to, semen of ary to Protect Lender's interest, including, but
<br />utornxy's pas spud entry upon the Property to make repairs. If Lender required mortgage insurance
<br />as a of making the loan° secured by this deed of Trust. Borrower shall pay the premiums required to maintain such insurance in effect
<br />uotd such time As the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable
<br />law. Borrower span pay the amount of ask mortgage insurance premiums in the manner provided under
<br />Any u paragraph 2 hereof.
<br />by Lender pu"UAnd to this paragraph 7, with interest thereon, shall become additional indebtedness of Borrower
<br />secured by this Deed of Trust. Unless Borrower and Lender agree to other terns of
<br />Leatier
<br />to Borrower r t ti payment, such nt at the shall be payable upon notice from
<br />eq erg �yruesni thereof, aMl shall bar interest from the date of disbursement at the rate payable from time to time on
<br />Principal under the Note unless payment of imem, at such rate would be contrary to Applicable law, in which event such amounts
<br />L slaelh bass im ffm at tIx h4hem rem Perriumbler under
<br />Applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any
<br />OtPo e or hereunder. take any action hereunder.
<br />g. iogreMso. Lender may matte or caule lobe made ble entries u
<br />give Borrower morice eon and aced to en a the Property, provided that Lender shall
<br />Prior °° any such tnspectiors specifying reasonable cause therefor related to Lender's interest in the Property,
<br />Cosidessaissien. The proceeds of spy award or claim for damages, direct or consequential, in
<br />Other uskirhl of the Property, of pan therefor, of for conveyance in !,ter of condemnation. Area hereby assigned and halwith e any condemnation or
<br />In the went of a total taking of the Pto petty, the tad to I rndrr.
<br />Frrx't^esls shalt be applied to the sums secured by this L)rtd of Trust, with the rsress, if any,
<br />pasd tux rtswar. In the event of a partial taking of the htoprrty, unless Borrower and Lender otherwise agree to wnting, their shall be applied
<br />tax the tunta secured by thn Livid of 7'tutst sus.•h Ptotxrtfon of the rumeeds as is equal des that pttnpxnttnn which the amount ,,I the sums sclurttl
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