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86-- 103079 If Borrower pays Funds to Leader, the Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or state agency linhdading Leader if Lender is such an institution). Lender shall apply the Funds to pay said taus, assessments. insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account or verifying and compiling said assessments and bills. unless Leader pays Borrower interest on the Funds and applicable law permits Lender to make such a -charge. Borrower and Lender may agree in writing at the time of execution of this Deed of Trust that interest on the Funds shall be paid to Borrower. and unless such agreement is made or applicable law requires such interest to be paid. Lender shall not be requited to pay Borrower any iuterea or earnings on the Funds. Leader shall give to Borrower, without charge. an annual accounting of the Funds showing crodits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds ate pledged as additional security for the sums secured by this Deed of Trust. If the amount of the Funds held by Lender. together with the future monthly installments of Funds payable prior to the due data of tam• assessments. insurance premiums and ground rents. shall exceed the amount requited to pay said taxes. assemnats. insurance premiums and 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 installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due. Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as Lender may require. Upon payment in full of AN sums secured by this Deed of Trust. Leader shall promptly refuntd to Borrower any Funds held by Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by Lender. Lauder shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lander at the time of application as a credit against the sums second by this Deed of Trust. 3. AppMcatba of pay meata. Unless applicable law provides otherwise, all payments received by Gender under the Note and paragraphs I and 2 hereof shall be applied by Lander first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof. then to interest payable on the Note. and then to the principal of the Note. 4. Prior Nl r4lago and Dui of Traoq Gartner; Lisses. Borrower shall perform all of Borrower's obligations under any mortgage, deed of trust or other security agreement with a lien which has priority over this Deed of Trust. including Borrower's covenants to make payments when due. Borrower shall pay or cause to be paid all taxes. assessments and outer charges, fines and impositions attributable to the Property which may attain a priority ova this Deed of Trust. and leasehold payments or ground rents. ifany. S- Hazard Lraraues. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage ", and such other hazards as Lander may require and in such amounts and for such periods as Tender may require. The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided, that such approval shall not be unreasonably withheld. All insurance policies and renewals thereof shall be in a form z; acceptable to Lender and shall include a standard mortgage clause in favor of and in a form acceptable to Lender. Leader shall have the right to hold the gh policies and renewals thereof, subject to the terms of any mortgage, deed of trust or other security agreement with alien which has priority over this Deed of Trust. In the event of loss. Borrower ahaU give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if tent [made promptly by Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date notice is mailed by Lends to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property a to the sums secured by this Deed of Trust. h. Pnnnatlw and Mdo6mm roe of Property; Iaaaabli; Caudominiamsp Planned Uait Devdupuissa ts. Bor- rower keep k shall the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions 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 shall perform all of Borrower's obligations under the declaration or covenants creating or governing the condominium or development, planned unit the by -laws and regulaUoas of the condominium or planned unit development, and constituent documents. 7• Prelacfiau of Landar's SecurYy. If Borrower fails to perform the covenants and agreements contained in this Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Property, then Lander, at I racer's option, upon notice to Borrower, may make such appearances, disburse such sums, including rcasoaable attorneys' fns• and take such action as is necessary to protect Lender's interest. If Lender requited mortgage insurance as a condition of making the loan secured by this Deed of Trust. Borrower shall pay the premiums requited to maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the Note rate, shall become additional indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting p. yment thereof. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder. S. hopectlea. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided that Lander shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property. !. C-damnntlM• The proceeds of any award or claim for damages, direct or consequential. in connection with any condemnation or other taking of the Property. or part thereof, or for conveyance in lieu of condemnation, are Eby assigned and shall be paid to Lander, subject to the terms of any mortgage, deed of trust or other security agree- mat with a lien which has priority over this Deed of Trust. 10. laeewit Not lRObwAod; Forbearance By Leader No a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release• is any manner, the liability of the original Borrower and Borrower's successors in interest. Leader shall not be required to commence proceedings against such successor or refuse to extend time for pay - mem or othewee modify amortization of the stuns secured by this Decd of Trust by reason of any demand made by the original Borrower and Borrower's ' successors in interest. Any forbearance by Lender in exerc ising any right or remedy hereunder• or otherwise afforded by applicable law, shall not be a waiver of or preclude the remedy. exercise of any such right or 11• Suecasaort aai Aaftft renal; Lahr and Several Liability; Co- signen. The covenants and agreements herein contained shall bind. and t' tights hereunder shall inure to, the respective successor and assigns of Lender and Borrower, subject to the provision& of paragraph 16 hereof All covenants and agrermem% of &,rro*er shall he print and wveal. Arty Borrower whoco.signs this Deed of Trust• but does not executc the Votc, car is co- signing this Decd of Trust only to grant and convey that Borrower'& interest in the Pmpem to Truster under the terms of this Ihed rat Trust, h! a _�