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<br />86-103731
<br />applicable law requires such interesi ro be paid, Lender shall not br required to pay Borrown any interest or earnings on the Funds Lender shall
<br />give to Borrower, without charge, an annual accounting c.f the Funds showing credits and debit, to the Funds and the purpose for which each
<br />debit to the Funds was made. Vie 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 to the due dates of taxes,
<br />assessments, insurance premiums and ground rents, shall exceed the amount required to pay saki taxes, assessments, insurance premiums and
<br />ground rents as thev fall due, such excess shall be, at Borrower's option, either prompt! repaid to Borrower or credited to Borrower on monthly
<br />installments of Funds. If the amount of the Funds held by Lender shall not he 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 sums secured by this Decd of Trust, 1 ender 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 tender. Lender shall apply, no later than immediately
<br />prior to the sale of the Property or its acquisition by Lender, any Funds held by 1 ender at the time of application as a credit against the sums
<br />secured by this Deed of Trust.
<br />3. AppNcador of Payments. Unless applicable law provides omcrwise, all payments received by Lender under the Note and paragraphs t
<br />and 2 hereof shall be applied by I ruder first in payment of amounts payable to Lender by Botrower 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 />0. Charges; I3em. 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 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, directh 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 shalt in good faith contest such lien by, or defend enforcement of such lien
<br />in. legal proceedings which operate to prevent the enforcement tit the hen or forfeiture of the Property or any part thereof.
<br />S. Hazard Insurance. 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 iha: the amount of such coverage exceed that amount of coverage required to pay
<br />the sums secured by this Deed of Trust.
<br />The insurance earner providing the insurance shall he chosen by Borrower subject to approval by tender; provided, that such approval
<br />shalt not be unreasonably withheld Ail premiums on insurance policies shall he paid in the manner provided under paragraph 2 hereof or, if not
<br />paid in such manner, by Borrower making payment, when due, drectl% to the insurance carrier.
<br />411 insurance policies and renewals thereof shall be in form acceptable to t ender 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 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 loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree m 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 Decd 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 f ender it) Borrower that the insurance carrier offers to
<br />settle a claim for insurance benefits, Lender :s authorized to collect and apply the instil ,trice proceeds at Lender's option either to restoration or
<br />repair of the Property or to the Burns secured by this Deed of Trust
<br />Unless Lender and Borrower otherwise agree in wriung, 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 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 />6. Praerrad" and fNalateurce of Property. L.eawhotds: Otaidamilat rss: Planned Unit Developsents. 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 Deed of Trust is tin 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 condomimuin or planned unit development, and constituent documents. if a condominium or
<br />planted unit development rider is executed by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such
<br />rider shalt 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. Protecdor of L.erder'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. If Lender required mortgage insurance
<br />as a condition of making the loan secured by this teed 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 7, with Interest thereon, shall become additional indebtedness of Borrower
<br />secured by this teed of Trust. Unless Borrower and Lender agree to other terms of payment, such amounts shall he payable upon notice from
<br />Lender to Borrower requesting payment thereof, and shall bear interest from the date of disbursement at the rate payable from time to time on
<br />outstanding principal under the Note unless payment of interest at such rate would be contrary to applicable law, in which event such amounts
<br />shag bear iniertat at the, highest rate permissible under applicable law Nothing contained in this paragraph 7 shalt require 1 ender to incur any
<br />expense or take any anion hereunder
<br />/. lrspecttor. Lester may make or cause to he made reasonable entries upon and inspections of the Property, provided that 1 ender shall
<br />give Borrows notice prior to any such inspection specifying reasonable cause therefor related to L ender'% interest in the Property
<br />All. C ainiesraUor. The proceeds of any award or clam; tot damages, direct or con %equrnnal, m connr.:tton with any sondemnau.lr ��•
<br />wrier taking of the Piulterty, or part themrf. or for conveyance in heu of condemnation, .tre hereby asngned and shall be paid t,, l ender
<br />fn the event of a total taking of the Property, the procecda shall he applied it, the "urns iecurml hs ;his Deed or i ruse, iiii the t sins,
<br />paid to Rotfowei In the event of a liartial takeryj if the Propsrris. unless Borrower and I raider rtttietwisr car,rr 1:1 wrr,np;. -heir shale be applied
<br />to thesutnp.5ex'uretl jty th:ro- fleed of Trust Stich pnip..trtion of the prrtkruts Al .s rsjua! ..., • ntw>+. 1,.1,11 111 L, !
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