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<br />86- 101623
<br />applicable law requires such interest to be ;said. Lender shall nut be required t:- pay Borrower any :merest or cammgs on the Funds. Lender shall
<br />give to Borrower. without charge. an annual accounting of the Funds -how; ig 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 payable prior :o the due dates of taxes,
<br />assessments, insurance premiums and ground rents. shall exceed the amount required to pay said taxes, assessments. insurance premiums and
<br />ground rants as they fall date, such excess shall be, at Borrower's option, either promptly repaid to Borrower or kited to Borrower on monthly
<br />installments 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 Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all stuns 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 />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 Taut.
<br />3. Appliances of Payments. Unless applicable law provides otherwise, all pay nents received by Lender undo he Note and paragraphs ;
<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 />f. Clnm7w Lims. Borrower shall tray all taxes, assessments and other charges, firm 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 notices of amounts due under this paragraph, and in the event Borrower shall snake payment directly. Borrower shall promptly
<br />furnish to Lender receipts evidencing such payments. Borrower shall pramprly discharge any lien which has priority over this recd of Trust;
<br />provided, that Borrower shall not be required to discharge any such lien so ione as Borrower shalt agree in writing to the payment of the
<br />obligation secured by such lien in a manner ac.-eptable 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 part thereof.
<br />5. Hazwd Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by titre,
<br />hazards included within the term "extended coverage", and such other hazards as Lender may r equine and in such amounts and for such periods
<br />as Lender may require; provided, that Lender shall not require that the a ciuw of such coverage exceed that amount of coverage required to pay
<br />the stems secured by this Deed of Trust.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to apps oval by Leader; 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 malting payment, when due, directly to the insurance carrier.
<br />Ail 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 m 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 />Lender. Lender may make proof of joss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shah 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 sums 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 mailed by Lender to Borrower that the insurance carrier offers to
<br />settle a claim for insurance benefits, Lender is authorized to collect and apply he insurance proceeds at Lender's option either to restoration or
<br />rgmir of the Property or to the sums secured by this Deed 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 1 and 2 hereof or change the amount of such installments. if under paragraph 16
<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 pass to Lender to the extent of the sums secured by this Deed
<br />of Trust immediately prior to such sale or acquisition.
<br />f. Preunatloa and Maiateaaam of Property-. Uawbolds; Condominiums; Planned Unit Developments. Borrower shall keep the
<br />Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions
<br />of any lease if this Deed of Trust is on a leasehold. if this need of Trust is on a unit in a condominium or a planned unit development, Borrower
<br />shall perform all 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 unit development rider is executed by Borrower and recorded together with this Decd of Trust, the covenants and agreements of such
<br />rider shall 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. Protection of reader's Security. if Borrower fails to perform the covenants and agreements contained in this Deed of Trust, or if an y
<br />action or proceeding is commenced which materially affects Lender's interest in the Property, including, but not limited to, eminent domain,
<br />insolvency, code enforcement, or arrangements or proceedings involving a bankrupt or decedent, then Lender at Lender's option, upon notice
<br />to Borrower, may make such appearances, disburse such sums and take such action as is necessary to protect Lender's interest, including, but
<br />not limited 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 loan secured 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 />Any amounts disbursed by Lender pursuant to this paragraph ^, with interest thereon, shall become additional indebtedness of Borrower
<br />secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable upon notice from
<br />Lender to Borrower requesting payment thereof, and shall tear interest from the date of disbursement at the rate payable from time to time on
<br />outstanding principal under the Note uniess payment of interest at such rate would be contrary to applicable law^ in which event such amounts
<br />SW bear interest at the highest rate permissible under applicable law. Nothing contained in this paragraph ' shall require lender ter incur any
<br />Lexpense
<br />or take any action hereunder
<br />S. Ispw6m. Lender may make or ---au5,c to be made reasonable entries ut�on and inspections of the Property, provided that Lender shall
<br />vc Borrower notice
<br />gi prior to any su,h inspection specifvi g reasonable at se theref r related to 1 enders interest in the Property.
<br />9. C.00/epamtioa. The ptcxends . l an, award or C !aim feet darndg.Cs, ::re ^.t Or consequennal, !n -onnai-,i,n wi ?i any ;eondemnal'Or.. I ,
<br />Cher taking of tire Ptopm!t . or Taft ihrre(of, ter iw Con YrS ante to ,I, li 10 n 7 tert':a,l„n, etc herei,% a,,igned and shall 1k pa'd io I Ynde,.
<br />In the eto'ent of it total taking of the PrC pent, the pr C,eed,'ftali he of f -.t ,d r :hC Ism• CvurN ht tt• , i r«eid ni ; w,l , ' 'h the t'xce -. if Part•,
<br />.
<br />rid us iftsar'f we in lht event . f a r ?areal taking of the Purl e , 1,,,, 7 ".er anC
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