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1 86-- 10278
<br />awe law regaares Such trsrefevt iii tw pad, Lender- t IV married to pay harrow r qty trterest ow earnings Ass the Funds, Lender Owl
<br />give to rroarer, without cftargt. an c aszi of $tw F' s lira eresfit debits acs the Funds and the purpose for which each
<br />debit ►,o the Fund's was made. The Funds we pledged as ad&sOVAJ sacsarritY Scar the salmi secured by dais Deed of Trust
<br />If the amount of the Funds heid by Leader. together with the future toorubly installments of Funds payable prior to the due dates of taxes,
<br />assmanents, insurance pfeennims and ground few, shall exceed the amount required to pay saW taxes. assessments. insurance premiums and
<br />ground rem as they fail d =w, such excess shall be, at Borrower's option. either promptly repaid to Borrower or credited to Borrower on monthly
<br />imntallmm" of Funds. If the amount of the Fns held by lender shall not be sut'fteient to pay taxes. assosstrraits, insurance premiums and
<br />$roud reds as they fall due, Borrower "I pay to Leader any amount nez sary to make up the deficiericy within 30 days from the date notice
<br />is mailwl by Leader to Harrower requesting payment them9f.
<br />Upon payment in full of all suns secured by this Dewed of Trust. Lender shall promptly refund to Borrower any Funds held by Lender. If
<br />wrier paragraph 18 hereof the Property is sold or the Property is otherwise acquired by lender. tender shall apply. no later than immediately
<br />prior to the wale of the Property or its acquisition by Lender, any Funds diet ! h Lender at the time of application as a credit against the sums
<br />secured by this Deed of Trust.
<br />3. AppMeallea of Psyments. Unless apfalicshie law provides otheru tee, All payments received by Lender under the Note and paragraphs i
<br />WW 2 hereof stiiail be app W— by t,en ice first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof, then to interest
<br />payable on the Vie, then to the principal of the Note, and them to interest and principal on any Future Advances.
<br />4. Crngea; Lori. Borrower shall pay ail taxes, assessments and other charges, fines and impositions attributable to the Property which
<br />may attain a priority over this Deed of Trust, and ieasehold payments of 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 duc under this paragraph, and in the event Borrower shall snake payment directly, Borrower shall promptly
<br />furnish to Lender receipts evidencing such payments. Borrower -,.hail promptly discharge any lien which has priority over this Deed of Trust;
<br />provided, that Borrower shall not be required tai 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 Iender, of shall m flood faith contest such lien by, or defend enforcement of such lien
<br />in, legal proceedings which operate to prevent the :riforcernent of the tier, or forfeiture of the Property or any part thereof.
<br />S. Ha:ard iwrnum. 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 rite 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 withh. -id. 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 he 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 Wrrowcr 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. tender may make proof of loss it' 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 Dead of Trust would be impaired, the insurance proceeds shall be
<br />applied to the suns 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 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 : 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 acquisition shall pass to Lender to the extent of the suns secured by this Deed
<br />of Trust inunedimely prior to such sale or acgtnisition.
<br />h. Fraaerveden art Mainteaetace of rrepnly: Lemebokb: Coadoadtaams; Planned [aft
<br />Property in good repair and shall not commit waste or Defy ioftmhall Borrower steal! keep the
<br />Permit impairment or deterioration of the Property end shall comply with the provisions
<br />of any lease if this Deed of Trust is on a leasehold. If this Deed of Trust is on a unit in a condominium or a planned unit development, Borrower
<br />SW perform all of Borrower's obligations under the declaration or covenants creating or governing the condominium or planed 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 ricks 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 Deed of Trust as if the rider were a part
<br />hereof.
<br />7. Preowd" 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 fender'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 appearanen. disburse such sums and take such action as is necessary to protect Lender's interest. including. but
<br />not lonited to, dleMtrsen nt of reasonable attorney's fees and entry upon the Property to make repairs, if Lender required mortgage insurance
<br />as a condition of matting the loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain sucri insurance in effect
<br />until such time as the requirement for such insurance terminates in accordance with Borrower's and Leader's written agreement or applicable
<br />law. Borrower shat) pay the amount of all mottgage insurance premiums in the manner provided under paragraph 2 hereof.
<br />Arty amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional indebtedness of Borio*ea
<br />sew by tho Deed of Tub. Unless Borrower and Leander agree to other terms of payment, such amounts shall he payable upon notice from
<br />L=dec to Borrower requesting faayn-caot thereof, and shall hear interest from the date of disbursement at the rate payable from time to time on
<br />Principal Under the Nok unless payttient of interest at such rate would be contrary to applicable law, in which event such arncIunt4
<br />AM been exam at the highest rate pemissihle under applicable law. Nothing contained in this paragraph 7 shall require Lend" to incur any
<br />CIPCO a or take air action hereunder_
<br />a. It1lHae- . Leader may taste err cause to he made reaumab4e entries upon and ins pe:t � of tax Prelerty. provided that i.cnder shoal
<br />Sivelk9rower notice prKW to arny -h in"NX -tint stirs tyt"S reasonabie vause therefor related to tender's interest in the Property.
<br />!. (: _ Tbt r"kwreds of any awarai or _€aura for Umog". dsrr,r t>r cxrns+ectcuri w, m xmnCX -f , with ant ��ndexnRar!otl o!
<br />Other talrir4 of the Propert-*, eve punt tiwes,,g° :nom ,cur C(M— eyltme in iieu of r�rrzietrr�ti; +n. ,are here'*y ascigrWd' Aild shaii be iJ To l rticier
<br />tan OW event ryf a t {teal talcnig of rile Pf(n 'r!t, ihr pw ou e q c ha #; t?c 6pj 3sexl iii :Fe jtrdtt3 �! a'3t,3 hro ;Fi x i c3t u v
<br />xo the rerw . in t! €* seta txai tea ��t 'r xi Kn ,w. t a 4 is
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