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<br />86 402686
<br />applicable law requires such interest x he paid, Lender shall 1101 6: rcqutced to pay Borrower any interest or earnings on the Funds. Lender shall
<br />give to Brre'allioi;ttit!lott► charge, an annual accounting of floe Funds showing credits and debits to the Funds and the purpose for which cacti
<br />debit to the Funds was made. The Funds are pledged as additional iccurit y for the sums secured by this Deed of Trust.
<br />r If the amount of the Funds hod by Lender, together with the future monthly installments of Funds payable prior to the due dates of tares,
<br />iassessments, insurance premiums and ground Trnu, shall exceed the amount required to pay said taxes, assessments, insurance premiums and
<br />ground rents as they fall due, such excess shall be, at Borrower'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 &hail not he sufficient to pay taxes, assessments, insurance premiums and
<br />ground rents as they fall due, Borrower shall pay to Lender anv amount necessary to make up the deficiency within 30 days from the date notice
<br />is trailed 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 apph, no later than immediately
<br />prior to the sale of the Property or its acquisition by Lender, any Funds held bs I ender at the time of application as a credit against the sums
<br />secured by this Deed of Trust.
<br />3. AppYeades of Payesents. Unless applicable Wx provides otherwise, all payments received by Lender under the Note and paragraphs I
<br />and 2 hereof shall be applied by I ender 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. Clauses; liens. Borrower shall pay all taxes, assessments and other charges. fines and impositions attributable to the Property which
<br />may attain a priority over this Deed of Trust, and Icasehold 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 gcwd 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 />S. Hasid Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by tire,
<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 sutras 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, dimcriv 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 shalt have the right to hold the ;x-olicies 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 nonce to the insurance carrier and
<br />Lender. 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 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 I ender to Borrower that the insurance carrier offers to
<br />settle a cilium for insurance benefits, Lender is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or
<br />repair 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 i and 2 hereof or change the amount of such installments. If under paragraph 18
<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 acquisulon 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 />6. Preservstdoa and Msiatesssce of Property; Leaselsotds; Condominiums. Pleased 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. I f this Deed 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 Deed 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 Iced of Trust as if the rider were a part
<br />hereof.
<br />7. Proteetlos of Leader's security. 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 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 Lr 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 l'ender's written agreement or applicable
<br />law. Borrower shall pay the asnount of all mortgage insurance premiums in the manner provided under paragraph 2 hereof.
<br />Any amounts dubursed 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 bear interest front the date of disbursement at the rate payable from time to time on
<br />outstanding principal under the Note unless payntent of interest at such rate would be contrary to applicable law, in which event such amounts
<br />shall bear interest at the highest rate permissible under APPli"bie law Nothing contained in this Paragraph ' shall require Lender to incur ens
<br />expense or take any action hereunder.
<br />8. lasperdoe• Lender may snake or cause in be made reaxonable entries opon and inspections of the Property, Provided that I ender shalt
<br />gave Borrower notice prior to any such inspection specifying reauntabic cause t!aerefor related to L.endcCii interest m the Property
<br />•. Cosiaraad4m. The proceeds of any award or claim f x damagcy, direo or consequennal 1n omnernon with an. :onderiv,an:m ,,r
<br />other taking of the Property, .e Part tbctc,,f, car hx :onveyartce In hen of aoridcrnnato"'i are hercbs acsixncd and <bali he paw. to I ender
<br />In the event of a tolal taking of fire Pro'Mtu• the Pria:eecds shall he api a.rd •e iris u;fm, secure a hi ou, joccl,q ? t i h ;hc e y .r i, a kn,
<br />Paid io iltnrowetf In the everit r t e armless _aYmg, of the P,orfrrtro ,ante's tic 'r ,wen and 1 O".0r.i ..c »ar :e¢ rr r wr 1 f. , •c 0".111 < app u i
<br />'n me Wms six-uted by thtc I i cot tt I ii,,- fish pt nixirfkon rat rf,t pr+k rd,
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