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GC-- 100633
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<br />upillpmu Borr.,wier and Lender and ;,greeas f-illows-
<br />i. P"Townt of 114ioeipl and for"". Borrower -hall promptly' nay xhen due the and X70TC17 -n the
<br />inic—I
<br />by the Note, prepiijitriont and we charges as provided in the Note- "nd flic princiral of -Ari-1
<br />on any Fidurc ;kJvaacc% wcur,,J hV this Deed of Trust. ad- Borrower hall pis
<br />2. Van& Sw Tam and husirtutice- Subject to applicable law Or to a waiver by L" -� Ba 0 shall y
<br />to Leader on the day monthly installments a4 principal and inter"t arc p;iyaitk- "in&,.- the Vote, until the \oic is paid in fi.lffl.
<br />a sum Therein -Funds7l equal To one-malfth of the ;'early taxes and assessments which may allain P-161% over M.,
<br />Deed of True and ground Tents tut The Property, if ant. plus -:.ne-zwrjfzh ofyllaov premium installments for hazard insurance.
<br />pha one- twelfth of yvady priculawn inaaments fear mortgage insaranct- :f any. all as reasonably estimated initially and from
<br />Time ui time by Lender on the basis of asscanwrils and bills and reasonable estimates thereof.
<br />Tbc Fads shall be held in an maitutilon the deposits or accaurtis of which are insured !I guaranteed by a Federal or
<br />state agency (mcluding Lender if Lender is Such an insututioni. Lender shall apply :be Funds to pay said ;axes, assessments.
<br />3051MAYWC priemiums and ground rears Lender may not charge for w holding and applying the Funds. analyzing said account
<br />m verifying and compiling said assessments and bills, unless Lender pats Borrower irl�cr" on the Funds and applicable la.
<br />permits I cD&r to make such a charge. Borrower and Lender iniv agree m writing it the time of execu:io• of this
<br />Deed of Trust that interest on the Funds shall tin: paid to Borrower. and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not be required to pay Rorro%cr any interest or earnings on ;he Funds. Lender
<br />shall give to Bor:nwer, wilhout charge. an annual accounting of the Farads sho -ing credits 3nd debit;;i to the Funds and the
<br />additionall for the sums secured
<br />purpose for wbmb each debit to The Funds was made. The Funds arc pledged as security
<br />by ibis Deed of Trust-
<br />If the amount of the Funds held by Lender, 1- nether with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground Tents, shall exceed the amount required to pax said Taxes.
<br />assessments, insurance premiums and ground tents as they :all dux_ such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited 1,S Borrower on monthly . installments of Funds. if the am,-uni of the Fund;
<br />fall
<br />held by Lender shall not Ile sufficient .10 n2% taxes assessments. insurance premiums and ground rents as they due-
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requ&-ting payment thereof.
<br />up�pa-.Wjent in fullai an sums secured by this Deed of Trust- I-crider shall promptly refund to Borrower any Funds
<br />i Lenden Lender
<br />If under paragraph 18 hereof the Properly Is Sold or the Properly is , lerwise ac4L
<br />held b -)I, acquired by
<br />y
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<br />shall apply, no later than immediately prior ioi the sAit all the Property Of its acqM1-Il0n by tenter. any Funds held by
<br />Lender at the time of application as a credit against the sums 4.c.---uT&d by this Deed of Trust.
<br />3. 1*11licaden of Psynten". Unless applicable law provide, officn4vic, all payments rec—cd by Lender under the
<br />ab!c to Lender -nTO-WCT
<br />Note and paragraphs I and 2 hereof shall be applied by' Lender first in pa,mcni if amounts pay -ender h v B,
<br />under paragraph 2 hereof. then To interest payable on he Note- then To the principal of the Note. and then to mientv, and
<br />principal on any Future Advances'
<br />4 Cbartei; XAM& Borrower shall pa%, all taxes, assessments and tither charges. lanes and tinposItions auributable to
<br />the Property which may attain a priority over this Deed of Trust, and leasehold payments or ground Terns, if any, in the
<br />2 hereof or, if net paid in such manner. by Borrower making payment. when due, directly
<br />manner provided under paragraph
<br />to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts duc under ibis paragraph. and in the
<br />event Borrower shall make payment directly. Borrower shall promptly' furnish w Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any Tien which has prion1% ti,,er this Deed of Trnsi; provided. tbar Borr,—er shall not he
<br />by
<br />required to discharge any such lien so long as Borrower shall agree in xrning to the payment of the obligation secured
<br />lien
<br />such lien in a manner acceptable to Lender, or shall in good fail',-, contest such !let, by, or dciend enforcement Of Such in.
<br />lien 10T.'CilLITC of the Property or any par! thereof.
<br />legal proceedings which operate to prevent the enforcement M the Or
<br />& Ban" Insurance. Borrower shall keep the improvements rjoi,s ev :sung or bere-after erected on ibe property Insured
<br />against loss by fire, hazards include-1 within the term - 'extended coverage ". '!n,i such other hazards as I---rider May require
<br />and in such amounts and for such periods as Lender may require; provided. that Lender shall not requite that the amount of
<br />such coverage exceed that amount of coverage required to pati the sums secured by this Deed of Tritsi.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender: provided_
<br />that such approval shall not be unreasonably` withheld. All premiums on insurance policies shall be paid in the manner
<br />provided under par*gmpb 2 hereof or, if not paid in such manner. by Borrower aiaking payment, when due. directly to the
<br />Insurance carrier.
<br />All insurance policies and renewals Thereat shall he in form acceptable to Lender and shah incli;dc a standard mongaoc
<br />to Lender. Lender ha%e xhl. right to hold he policic, and renewals hereof.
<br />clause in favor of and in form accepiahle shall
<br />and Borrower shall promptly furnish to Lender all renewal novice, and all receipts of paid premiums. In the event of 'loss.
<br />Borrower shall give prompt notice to the insurance carner. and Lcrider Lender may make proof of loss if not rn;,,de pronnpii±
<br />by Borrower,
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds Shall be applied to restoration or repair of
<br />the Property damaged. provided such restoration or re! air IS CLonomicaliv feasible :nd the secimi% of this Deed of Trust is
<br />not thereby impaired- if such restoration or repair is not economically feasible 01 11 the security of this Deed of Trutt would
<br />'tic c\ c CSS. a lly. aid
<br />impaired, the insurance shall be applied to the Sums secured by !his Deed tA Trust. wJjh p
<br />be proceeds
<br />if The property is abandoned by Borrower. OT if B0110"Cr falls to iespond to Lender within 30 dais fTL
<br />10 Borrower. from the
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<br />date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for in,wanct: he nefils, Lender
<br />is authorized To collect and apply the insurance Proceeds at Lender's option either to ies!Oral.on or repair of the Properl,
<br />or to the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend
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<br />or postpone the due date of the monthly installments referred -. o in paragraphs I and 2 hereof or change the amount of
<br />such installments. if under paragraph IS hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />in insurance and in and to the proceeds thereof mulling from damage to the Properly Prior to the sale
<br />and to any policies
<br />or acquisition shall pass to Lender to the extent of the sums secured by this Deed of Trust immediately prior to such sale or
<br />11011slisitions
<br />6. PseservaGos and hb&jklussce of Property; Leasebuids; Condominium; Planned Unit Developments. Borrower
<br />shag keep the Property in Ill repair and shall not comma waste or permit impairment or deterioration of the Properly
<br />and shall comply witb the proviluous of any lease if this Deed of Trust 3% on a leasehold. if this Deed of Trust is on a unit in a
<br />condominium or a planned unit development. Borrower shall perform all of Borrower's obligzaions under the declaration
<br />or coventsis creating or governing the condominium or planned unit development, the b),-Iak%-s and regulations of the
<br />condouniiiiiant or planned unit development, and constituent documents. If a condominium or planned unit dc,iclopincrit
<br />rider is cacculied by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such rider
<br />Shag be incorporated into and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider
<br />were a P"I hereof.
<br />7. PrttMe 9 61 LendWs Security- If Borrower falls to perform the covenants and agreements contained in this
<br />Deed of Trust, or if any action or proceeding is commenced -which materially affects Lender's interest in the Property.
<br />includin& but not Latited to, eminent domain, inisoivency, code enforcement, or arrangernents or proceedings involving a
<br />bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such
<br />sunis; and take soil action as is necessary to protect Lender's interest, including, but not limited to. disbursement of
<br />reason" anoraws fen MW entry Upon The Property to make repairs. If Lender required mortgage insurance as a
<br />condbiop of making the loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain such
<br />in ego" until such unit as the requirement for such insurance terminates in accordance with Borrower's and
<br />Loodws — agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed brx- Lender pursuant to this paragraph 7, with interest thereon. shall become additional
<br />Borrower Lender to other terms of payment, such
<br />indebtedum of Borrower secured by this Deed of Trust. Unless and agree
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br />dam of disbursamad as the raw payable from time to time on outstanding principal under the Note unless payment of interest
<br />at slithi Me would be contrary to applicable law, in which event such amounts shall bear Interest at the highest rate
<br />permissible under applicittAc law. Nothing contained in this paragraph 7 shall require Lender to incur jnv expense or take
<br />any action hereunder-
<br />1. bug -1 Lender may make of ausc to be Made lin --Id 'n're o", of fhi. py"!J-1
<br />that Lender shall give Burr - wrr ricrict pr:.,r to any "ULt 'nspccllf, spec t. .t rcasiln�c cau,c rc;,Iled I indcr
<br />i,mtrw in !he Pronm%
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