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87. 104782
<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 Furls showing credits and debits to the Funds and the purpose for which each
<br />deft to the Funds was made. The Funds are pledged as additional security for the sums secured by this Dad 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 dates of taxes,
<br />insurance premiums and ground rents, shall exceed the amount required to pay said taxes, assessments, insurance premiums and
<br />ground rants as they fall due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly
<br />inalujimmits of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and
<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 Lander to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Deed of Trust. Leader shall promptly refund to Borrower any Funds held by Lender. If
<br />under paragraph q8 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 stints
<br />secured by this Devi of Trust.
<br />3. Ap plineren of Ihyueaa. Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs I
<br />and 2 hereof shall be applied by Leger 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 Adverxces.
<br />t. (seats; Linea. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which
<br />may attain a priority over this Dad 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 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, 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 pan thereof.
<br />3. Henri Islamism. 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 foam acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, and Borrower shalt promptly furnish to
<br />Lender all renewal riaices and all receipts of paid premiums. In the event of loss. Borrower shall give prompt notice to the insurance carrier and
<br />Lander. Leader 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 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 security of this Deed of Trust would be impaired, the insurance proceeds shall be
<br />applied to the starts secured by this Deed 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 Lender within 30 days from the date notice is team 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 />rev of the Property or to the sums secured by this Dad of Trust.
<br />Unless Leakier and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the die
<br />date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments. If under paragraph 18
<br />haaof the Property is acquired by Lender. all right, tick 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 sutras secured by this Dad
<br />of Trull intowdietely prior to such sale or acquisition.
<br />ti. 1? sms atler and Moleftemser of Property: ; Condominium, Pined Unit Developments. Borrower shalt keep the
<br />Property in good repair and shall not commit wane or permit impairment or deterioration of the Property and shall comply with the provisions
<br />of any lase if this Dad of Trust is on a lessebold. If this Dad of Trust is on a unit in a condominium or a planned tacit development, Borrower
<br />shad perform an 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 tacit development rider is executed by Borrower and recorded together with this Dad of Trust, the covenants and agreements of such
<br />rider shall be incorporated into and shelf amend and suppliement the covenants and agreements of this Dad of Trust as if the rider were a pan
<br />hereof.
<br />7. lriskefte of Lander's Sectrlty. If Borrower fails to perform the covenants and agreements contained in this Dad of Trutt, or if any
<br />action or proctwiling is commenced which materially affects Lender's interest in the Property, including, but not limited to, eminent domain,
<br />cods enforcement, or arrangements or proceedings involrag a bankrupt or decedent, then Lender at Lender's option, upon notice
<br />to Borrower, may make such appeorances. disburse such sums and take such action as is necessary to protect Lender's interest, including, but
<br />not ' el 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 losin secured by this Dad of Trust, Borrower shall pay the premiums required to maintain such insurance in effect
<br />until such time as that 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 />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, stall become additional indebtedness of Borrower
<br />secured by the Dead of Try. Unless Borrower and Leader agree to other tams of payment, such amounts shall be payable upon notice from
<br />Leader to Borrower requesting payment thereof, and shall beau interest from the date of disbursement at the rate payable from time to time on
<br />the Dote unless payment of interest at such rate would be contrary to applicable law, in which event such amounts
<br />dall bow interest at the highest me permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any
<br />milsome of take any action hereunder.
<br />g. Inspection, Lender may make or cam to be made reasonable entries upon and inspections of the Property, provided that Lender shall
<br />Ove Borrower notice prior to any sea inspection wecsfYins reasonable cause therefor related to Lender's interest in the Property.
<br />!. CoadmawAlam. The proceeds of my award or claim for damages, direct or consequential, in connection with any condemnation or
<br />Other taking of the Property. Of pan thereof, or for conveyance in lieu of condeaurtatton. are hereby assigned and shall be paid to lender.
<br />In the cvM of a IOW taking of the Pt y, the proceeds shall be applied to the sums cured by this Deed of Trust. with the excess, if any,
<br />pwd to . to the of a partial taking of the Properly, unless Borrower acid Lender otherwise agree in writing, there shall he applied
<br />to the "the Deed of it such propmrlioa of the proceeds as is equal to that tuoportion which the amount of the suns secured
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