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<br />86- 103387
<br />U"woom;CAmetaiwts Borrower and Lewder emanates and agree at forwas'
<br />.' 1111 "wee of hlwelp/ nisi NMerl nerrewersha8 prompty pay when due the principal of nand `interest on the
<br />node sedreca evidenced by the New prepaytrttt and IMs, charge* sr provided in the Now. and the principal of and interest
<br />on zanyy Fut. Adramcos recurad by thin DDeeeeudf W Trust.
<br />>t /wir` fair Those iM Mareeee. Stijaee to applicable law or to a written waiver by Lender. Borrower sha8 pray
<br />to Lender on the day monthly ittatelha.ntt of principal and interest we payable under the Nose. until the Note is paid in tf NI.
<br />a twin Owein? "Ponds e"al won4welfNt of the yeady uses and asussurnam- -which may attain priority over Ibis
<br />Deli of Truro. *ed gtomed rents on the Property, if say. plts one -iwd ftk of yearly premium insiattments for hazard ttxorsec.
<br />phts?owte- twNfth of yearly premiums tnstaBmentr for mort4aBe insurance. if any, all as reasonably estimated rnnnally and from
<br />ttttrs to enmaby Leader She basis or grid biNs anal reasonable estimatoyiMreo(.
<br />The Fiends shah be held in amiaetifwion the deposits or atxroatNrof which are insured or guaranteed by a Federal or
<br />Nate agency ( includind Lender if Lender is such an i stitution). Lender shall apply the Funds to Pay 1414 Dates. assenments.
<br />insurance premttmsr antpound' rents. Lender may raw charge for so holding and applying she Fit**, analyzing said aceOW
<br />or verifying and oonipiliitg:said;ttaaattenp and bilk. unless Lender pays Borrower interest on she Rinds and applicable law
<br />permits Lender to make Such a charge. Borrower end- Leader !nay agme in writing at the time of execution of thn
<br />Deed of Triter ilea, interest on the Fonds ihall be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to paid. Lender rhpli Iwo be required to pay Borrower any inlercat or earminp on the Funds. Lender
<br />shag give to Borrower, without charge, an ane,ssl acco m ing of the Funds showing, credits and dehHS to the Funds and the
<br />pnrpoes for which each debit to the Funds war iutade. Thar Funds, am pledged as additional security for the, stmt secured
<br />by this Deed of Trust.
<br />If ihe'uniotmt`ofthe Ftntd MM by Lender, together with the future monthly installments of Fonds payable prior in
<br />the due don of tatter, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said tares.
<br />arwrtnentt, insurance premiums and ground rents as they fall due, such excess shall be. at Borrower's option, either
<br />protnpsly repaid to Borrower or credited to ° Borrower on, momhly installments of Funds. If the amount of the Fund%
<br />Mite by. Lender Shall "net be sufficient to pay taxes, assessments. insurance premiums and ground rents m they fall due:
<br />Borrower shall pay to tanner any amount accessary to matte up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment them(.
<br />Upon pniymentin full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any Fu..Js
<br />hew by Lender. If under paragraph Ig hemoHlic Property is sold or the Property is otherwise acquired by I ender. Lender
<br />shall apply, "no later than immediately prior to the sa of the Property or its acgnrauon by Lender. any Funds held by
<br />Lender at the time of a piicat on as a credit against the sums secured by this Deed of Trust.
<br />3. Appil, d ' of Feymeuu L Unless applicable law provides otherwise, all payments received by lender under the
<br />Now and paragraphs I and 2 hereof shall be applied by Lender first in psymen! of amounts payable to Lender by &arowcr
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />prmcical on any Future Advances.
<br />A Charger; Lion. Borrower shall pay all taxes. assessments and other charges, fines and impositions attributable to
<br />the Property which may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any. in the
<br />manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due. directly
<br />to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the
<br />event Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Deed of Trust; provided, that Borrower shall not he
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligatoin secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien n.
<br />kgd proceedin s which operate to prevent the enforcement of the lien or forfeiture of the Property or any pan thereof.
<br />f Hated Irwaotx. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by Are, hazards included within the term "extended cove rsge -, and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may require; provided. that Lender shall not require that the amount o,
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Decd of Trust
<br />The insurance ca.rkr providing the insurance shall be chosen by Borrower subject to approval by I ender: provided.
<br />that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
<br />provided under Paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when date, directly to the
<br />eaStraace artier.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include 2 standard mortgage
<br />clause in favor of and in form acceplabk to Lender. Lender shalt have the right to hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss.
<br />Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss it nut made Promptly
<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 repair is economically feasible and the security of this Deed of T Osi is
<br />not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Deed of Trust would
<br />be impaired, the insurance proceeds shall be applied to the sums secured by this Decd of Trust, with the excess. if any, paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower fads to respond to Lender within 30 days from the
<br />due notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefit%. Lender
<br />A authorized to collect and apply the insurance proceeds at Lenders option either to restoration or repair of the Property
<br />Of to the trims secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall tat extend
<br />or posspone the dux date of the monthly instatiments referred to in paragraphs 1 and 3 hereof or change the amount of
<br />such installments. If under paragraph IN hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acquisition shall pass to Leader to the extent of the sums secured by this Deed of Trust immediately prior to such sale or
<br />acquisition.
<br />f- Trseer"S"s and MaiNeaaact of Property; LemeboMs; Ce"omiafums; Planned Unit Developments. Borrower
<br />shall keep the Property to grad repair and shall not comfort waste or permit impairment or deterioration of the Property
<br />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 s
<br />condominium or a planned unit development. Borrower shall perform 211 of Borrower % obligations under the declaration
<br />or covenants creating or governing the condominium or planned unit development, the by -laws and regulations of the
<br />condominium or planned unit development, and constituent documents. If a condominium or planned unit development
<br />rider is executed by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such rider
<br />shall he incorporated into and shall amend and supplement the covenants and agreements of this feed of Trust as if the rider
<br />were a par! hereof.
<br />7. PtsreNho of Leader' Secuwlq, If Borrower fails to perform the covenants and agreements contained in this
<br />Dead of Trust. or if any action or proceeding is commenced which matertally affects Lender's interest in the Property,
<br />including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
<br />bankrupt or decedent, thn Lender at Lenders option, upon notice to Borrower, may make such appearances, dishurse such
<br />sums and take such action as is necom to protect Lender's interest. including, but not limited to, dishumement of
<br />reronaMe wlorney's fees and entry upon the Proper,r to make repairs. If Lender required mortgage insurance as a
<br />eadition of making tM ban secured by this Dead of Truss. Borrower shall pay she premiums required to maintain such
<br />itWIN Me in Offset until such lime as the requirement for such insurance lerminales in accordance with Borrower's and
<br />Lenders written alinement or a " ble law. Borrower shall pay the amount of all mortgage insurance premiums rat the
<br />manner provided under per egra 2 MreoL
<br />Any amounts dabursed by Lender pursuant to this paragraph 7, with inlcresl thereon. shall heroine additional
<br />L indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lcnder agree to other terms of payment, wt h
<br />amounts sMB be payable upon notice from Lender to Borrower requesting payment thereof, and shall beat interest from the
<br />date of disbursement at the rate payable from limit to time on outstanding principal under the Note unless payment of interest
<br />of such rate would be contrary to applicable law, in which evens such amounts shall bear interest at the highest rote
<br />rye siio�nsunder applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any experfse;oirs�c
<br />any i loopeetlow. Lender may make or cause to be made reasonable entries upon and impecuons of the Property. provided
<br />that lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related m Lcnder ".
<br />interest in the Prooersv.
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