|
M W ,..�,�aw %► V v
<br />requires such interest to be paid, Lander shall not he required to s
<br />r
<br />give to Borrower, without charge, an annual accounting of the Funds showing PRY and dab'tst to thetFundsttand the t car Panels. Lender
<br />to the Funds was made. The Funds art Pledged as additional security for the sums secured by this Dint of Trust. P for which each
<br />If riot amount of the Funds held by Lender, together with the future monthly installments of Funds
<br />uuae premiums and ground rants, shad exceed the amount required to Payable prior to the due dates of taxes,
<br />ins
<br />grotrnti rents they fall due, such excess shall be, at Borrower's option, either promptly repaid Borrower or credited to uaorrowar ontmomtbI
<br />inn of Funds. If the amount of the Funds beld by Lender shall not be sufficient to Pay taxes, a maths, insurance Prttnlums and
<br />Pound
<br />tents as they fall due, Borrower shall Pay to Lender any amount necessary to make
<br />is by L up the deficiency within 30 days from the data notice
<br />to Borrower requesting payment thereof.
<br />Upon Payment in full of all sums muted by this Deed of Trust, Lender shall promptly refund to Borrower any Funds held by Lander. If
<br />under Paragraph Ig hereof the Property is wild or the Property is otherwise acquired by Lender, Lender shall Apply, no 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 against tit the sums
<br />cured by this Dead of Trust,
<br />against the sums
<br />J. A of FtrYateaes. Unless a
<br />d 2 hereof shall be applied by t ender Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs I
<br />Payable re the Note, than applied
<br />the Payment of amounts Payable to Lender by Borrower under ,. aragraph 2 hereof, then to interest
<br />principal of the Note, and then to interest and principal on any Future Advances.
<br />4, Lam; Lkins. 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 norices 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 />ObfiPtiOn 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, !cage! Proceedings which Operate to prevent the enforcement of the lien or forfeiture of the Property or an
<br />t th S. Hazard I . Borrower shall keep the improvements now existing or hereafter erected oil the Property insured against
<br />hazards included within the term "extended coverage ", and such other hazards as Lender may require and in such amounts and for su hs by fire,
<br />as L may require; provided, that Lender shall not require that the amount of such coverage exceed that amount of coverage required torppay
<br />the sums secured by this Deed of Trust.
<br />The Insurance carrier Providing the insurance shall he chosen by Borrower .subject to approval by Lender; provided, that such approval
<br />not he unreasonably withheld. All premiums on insurance policies shall be r, if not
<br />paid in stitch , by Borrower making aid in the manner provided under paragraph 2 hereof or, if not
<br />g payment, when due. directly to the insurance carrier.
<br />and All insurance pollcm and renewals thereof shall be in form acceptable to lender and shall include a standard mortgage clause in favor of
<br />an form aa.a:eP &Nr to Leader. Lender shall have the right to hold the policies and renewals thereof, and Borrower shall promptly furnish to
<br />Lender all rcriewal notices and all receipts of paid premiums. in the event of loss, Borrower shall give prompt notice to the insurance carrier and
<br />Lender I truer may make procsf cef loss if not trade Promptly by Borrower.
<br />Unless Lender and Borrower otherwise
<br />Agree in writing, insurance proceeds shall be applied to restoration or repair of the Property
<br />poor such restoration m repair is economically feasible and the security of this Deed of Trust is not thereby impaired. If such
<br />txstoratimt or repair is taco m
<br />Ally feasible or if the security of this Deed of Trust would be impaired. the insurance proceeds shall be
<br />Borrower fails to respond to Lender within 30 days from the date notice isp mailed hyrL nderltotBorroweerrthat the minsurance carrier offers rto if
<br />settle a Claims foe "In uranct 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 tc the sums secured by this Decd 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 installments. If under paragraph Ig
<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
<br />of Trust' rely prior to such sale or acquisition Pass to Lender to the extent of the sums secured by this Deed
<br />6. Plow man NA "alaftennee Prtrpeny in good r of Property: : Condorddams: Phased Unit Der
<br />apart and shall not commit waste or permit impairment shpts! ®u. Borrower shall keep the
<br />of any if this Deed of Trust is on a leasehold if this pairment or deterioration of the Property and shall comply with the provisions
<br />Deed of Trust is on a unit in a condominium or a planted unit development, Borrower
<br />shall perfor'n all of Borrower's obligations under the declaration or covenants creating or governing the condominium or planned unit
<br />development, the by -laws area regulations of the condominium or planned unit development, and constituent documents. if a condominium or
<br />Planted unit development rider is executed by Borrower and recorded together with this Deed d Trust, the covenants and agreements of such
<br />rarer "I 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 />?. PrOSOCIllom of Leader's
<br />Sociality. if Borrower fails to Perform the covenants and agreements contained in this Deed of Trust, or if any
<br />action m Proceeding is commenced which materially affects Lender's interest in the Property, including, but not limited to, eminent domain,
<br />in"Ovency, code enforcement, or arrangements or proceedings involving a bankrupt or decedent, then Lender at Lender's option, upon notice
<br />to BmTOwar, may make such appearances, disburse such sums and take such action as is necessary to protect Lender's interest, including, but
<br />liffOW to, disbursement of reasonable attor
<br />es a ion Of making the bare ason reasonable ney's fees d entry upon the Property to make repairs. If Lender required mortgage insurance
<br />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 />law. Borrower shall pay the amount of all mortgage insurance premiums in the manner Provided under paragraph 2 hereof.
<br />A Y Amounts disbursed by Lender Pursuant to this
<br />rtxl by this of Tract. U paragraph 7, with interest thereon, shall become additional indebtedness of Borrower
<br />Leader to rawer r Borrower and Lender agree to other terms of Payment, such amounts shall be payable upon notice from
<br />ere ig Payment thereof, sad shall bear interest front the date of disbursement at the tale Payable from time to time on
<br />Estaftdmg principal under the fie unless paynrrnt of interest at such rate would be contras 10 Applicable
<br />I as the highest rate Permissible under Y rag law, in which event such amounts
<br />x or tats an applicable law. Nothing contained in this paragraph ' shall require Lender to incur any
<br />y action hereuttdsr,
<br />It. ' I may e or cause to ix
<br />elvs Bmr thine reasonable crudes upon and inspections of the Propel Iv, provided that Lender shall
<br />motiee prism to any such Inspection a and I specifying reasonable cause therefor related to Lc•sader's interest in the Prc
<br />6. C i r part t s re any award ,m claim for elamages, direct or eOnstquential, in conrrecttOn with at" ondenanfluou nr
<br />Oat taking of tt Property. ,w Parr thereof. oT for ftknyCVenc"e in lieu of Condemnation. are hereby it"I"ef anal $1141e t'C;%aad to I etrdet
<br />Its r tern "f s tats1 taking tit the Profwey, the prcattcds shall bt aPPlled to the sums xen urecl by rhea fErewl of trusty svtah the excess. tl ens,
<br />A tG Bxrr,wer in the "ern tit a grtral taking,)( e
<br />rxs �) e n1! The isar; rep, uulets e?rt,pwrr and ! errdcr cHhrrarW agree an ®rttinft, there nleall he at,{,I,e,t
<br />afturcrl Pry Data FkWd of Trust such a
<br />io* rfxxti <rn of the t>rrm €¢r�l« as ay rtiµtal to that prnta'rU„n wench the 4m,nna „f the „nun non arc ^il
<br />
|