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1.03085
<br />airy 9
<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 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
<br />s, insurance premiums and ground rents, shall exceed the amount required to payable prior to the due dates of taxes,
<br />ground fetus as they fall due, such excess shall be, at Borrower's pay said taxes' assessments, to Borrower r premiums and
<br />iristalbttantS of Funds. If the amount of the Funds held by Lender shall not be sufficient to t pay taxes, vassessmenrtss,insurance premiums tad
<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 Deed 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 />s prior to the sak 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. ApOdes"n of payateata. 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 principal on any Future Advances.
<br />4. Cep Lhs. Borrower shall pay all taxes, assessments and other charges, fines and im
<br />may attain a priority over this Deed of Trust, and leasehold positions attributable to the Property which
<br />w, if not payments or ground rents, if any, in the manner provided under paragraph 2 hereof
<br />paid in such manner, by Borrower making payment, when due, directly to the payee thereof. Borrow" 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, of 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. tii umd 10"wnwe. 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 accgxabte to Lender. I ender 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 at loss, Ror rower shall give Prompt notice to the insurance carrier and
<br />ICrtdef, 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 re
<br />Provided such restoration or r pair of the Property
<br />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 Deed of Trust would be impaired, the insurance proceeds shall be
<br />to the sums secured by this Decd 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 Leda within 31) days from the date nonce 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 a
<br />repair of the Pr operty or to the sum pply the insurance
<br />Proceeds at Lender's option either to restoration or i
<br />s secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise
<br />agree in writing, any such application of proceeds to principal shall not extend or
<br />date of the monthly installments referred to in postpone the due
<br />heed( 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
<br />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 />•.
<br />pesservardeoa ud hgv�wnrs " ' L'saaMol9a; f �' peaaN Unit DereloPtaemb. Borrower shall k
<br />Property in good repair ad shall not commit waste or permit impairment or deterioration of the Pro keep the the 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 and
<br />unit development, Borrower
<br />shall perform 4111 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 p
<br />a lanned unit development, and constituent documents. If a condominium or
<br />planned unit development rider is executed by Borrower d recorded together with this Deed of Trust, the covenants and agreements of such
<br />der dull 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.
<br />prorard" of I'aada*'s Secadty. 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 Pro
<br />insolvency, code enforcement, or arrangements or proceedings involving a bankrupt or decedent, then in
<br />Lender attLe limited der'sto torment domain,
<br />r to Borrower. may make such appearances, disburse such sums and take such action as is necessary dn notice
<br />rra limited to, disbursement of reasonable attorney's PI' protect Lender req s interest, including, but
<br />trey's fees and entry upon the Property to make repairs. If bender requird mortgage insurance
<br />� a cotsdtttomt of making the loan secured by this Deed of Trust. Borrower shall pay the premiums required to maintain such insurance in effect
<br />snail such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written
<br />law, Borrower shall Pay tiro amount of all mortgage insurance agreement or applicable
<br />premiums in the manner provided under
<br />Any amounts disbursed by Lender pursuant to this paragraph 2 l rode.
<br />secured paragraph 7, with interest thereon, shall become additional indebtedness of Borrower
<br />by this Deed of Trust. URIM Borrower and Lender agree to other terms of Payment, such amounts shall be payable upon notice from
<br />Leader to Borrower requesting payment thereof, and shall bear interest from the date of disbursement at the rate payable from time to time on
<br />fruutprl under the Note unless payment of interest at such rate would be contrary to applicable law, in which event such amounts
<br />intartnt at the 1111411heat rate permissible under applicable law. Nothing contamd in this paragraph 7 shall require Lender to incur any
<br />exPmw o r take any action berearder.
<br />I. . Lender may make fr cause lobe made reasonable entries upon and Inspections
<br />girt grower ow" prior to any such ins Ln a the Property, provider that !.ender shall
<br />inspection sPn-tfying reasonable therefor related to Lender's interest in the Property.
<br />The Proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or
<br />Other taking fit the Pretty, or fart thereof, of for conveyance in lieu of conde
<br />In the ew m u
<br />nation, arc hereby assigned sed shall he paid to (_ender
<br />ent III` roost taking (if the Property, the Ptnct'eds shall he applied u, the Sums Secured by this flied of hoist, with the excess. It any.
<br />r`odIO9"TtOvW In rtie rvent oil a partial taking or the Property, unless Borrower and l ender aHherwisr agree in unions, there shall he .applied
<br />to it" Sumo muted by this food Of Trust such ptop ortNrn (If the procecoh as is equal It) that pr„port 11+11 which the amount I,I the ,son, sr: aria!
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