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87ses' 104577
<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 art! 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 Dead 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 dales of taws,
<br />insurance premiums and ground rafts, duall exceed the amount required to pay said taxes, assessments, insurance premiums and
<br />gourd macs as they fail due, such extxes Mall be, at grower's option, either promptly repaid to Borrower or credited to Borrower on monthly
<br />histallments of Funds. If the amount of the Funds held by Lender shall no be sufficient to pay taxes, assessments, insurance premiums and
<br />ground rents as they fail date, Borrower shall ay to Lander 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 Dad of Trust, Lender shall promptly refund to Borrower any Funds held by lender. If
<br />under paragraph lg 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 against the sums
<br />secured by this Deed of Trust.
<br />3. ApgMe ad" of Paymeata. 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. Cbsrgw IiMa. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which
<br />may attain a priority over this Dead of Trust, and leasehold payments or ground rents, if any, in the manner provided under paragraph 2 hereof
<br />a, if riot aid in such manner, by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish to
<br />Lencler all notices of amounts dux 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 are 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, deal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any art thereof.
<br />S. Harald Iasaraee. 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 shat! 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 />Lehr. Lender may stake proof of loss if not made promptly by Borrower.
<br />Una Leader and Borrower otherwise agree 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 or if the purity of this Deed of Trust would be impaired, the insurance proceeds shall be
<br />applied to the swats secured by this Dead of Truce, with the excess, if any, aid 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 maims by lender to Borrower that the insurance carrier offers to
<br />settle a claim for insurance benefits, Leader is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or
<br />rear of the Property or to the sums cured by this Deaf of Trust.
<br />Unites 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 18
<br />hereof the Property is acquired by Lender. del right, title and interest of Borrower in and to any insurance policies and in and to the proceeds
<br />thereof melting from damage to the Property psi to the sak or acquisition shall pass to Lender to the extent of the sums cured by this Deed
<br />of Trust ' immediately prat to such safe or acq
<br />•. rraaenatloa mail 111alaswaaee of Prepaty; l aarriillia; C ; IPlasuaed Usk Developments. Borrower shall keep the
<br />Property in good repair and sal not cominit waste or permit impairment or deterioration of the Property and shall comply with the provisions
<br />of any lease if this Dodd of Trust is on a leasebotd. If this Decd of Trust is on a unit in a condominium or a planned unfit development, Borrower
<br />SW 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 conilommium or planes 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 SW be Incorporated into and shall amend and supplement the covenants and agreements of this Dad of Trust as if the rider were a part
<br />T. Treset*m of Lsaisr's Sess rlb. If Borrower fails to Derform the covenants and aareements contained in this Deed of Trust. or if anv
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