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1049
<br />applicable law requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall
<br />++± give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each;
<br />4] debit to the Funds was made. The 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 said tam, assessments, insurance premiums and
<br />ground rents as they fall due, such excess shall be, at Borrowtes option. either promptly repaid to Borrower or credited to Borrower on monthly
<br />installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pap t axes, 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 30days from the date nonce
<br />is mailed by Lender to Borrower requesting payment theretsf:
<br />Upon payment in full of all sums secured by this Deed of Trost. Leader shall promptly refund to Borrower anyFun'rs` held by Lender, If '
<br />under paragraph 1$ hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shaft apply; no later than ninarnediately . '
<br />prier to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the SUM ,
<br />secured by this Deed of Trust.
<br />3. Application of Payments - Unless- applicable law provides otherwise, all payments received by Lender under the Note and paragraphs I
<br />and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph 2 hermf, then to interest
<br />payable on the Note, ?hen to the principal of the Note, and their to interest and principal on any Future Advances,
<br />4. Charges: Liens. Borrower shall pay al: tales, assessments and other charges, fines and impositions attributable to the Property whicb
<br />may attain a priority over this Deed of Trust, and leasehold pa ments or ground tents, if any', in the manner "provided under paragraph 2 hereof,
<br />or, if not paid in such manner, by Borrower m rising payment, when dire; directly to the payee thereof. Borrower shah promptly furnish to
<br />Lender all notices of amounts due under this paragraph, and in txiie event Borrower shall make pay.,:. directly, Burrower shall yrotapiiy
<br />furnish to render receipts evidencing such paymcnts_ 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 ma manner acceptaoleto Lender, or shales gtsod faith contest such linen by; or defend eniorcetnen► of such him .
<br />in, legal proceedings which operate to prevent the rnforcemen: pf chit hen or for €eiture of the Property ter atsypari thereof.
<br />S. Mmitrd Insurance. Borrower shall keep theimprove rcmrx now existing is hereafter erected as the Property- insured a tinass hiss 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 pesiodir
<br />as Lender may require; provided, that Lender shall not reclu@rc Owl, the amount of such coverage exceed that amount of Cloisrage required to pap
<br />.,
<br />the sums secured by this Deed of Trust;
<br />The insurance carrier providing the i, sural-s shalt use r. t use by Barr ax - subject to Yltpro +al by Lender; prrey-rled. that's rlt a-Xvval
<br />shall not be unreasonably withheld. Ali preen :u.•.s ea rr s ran+ e noh c ' a Lk aid in the manner provided under ararsaph 2lxreszf os, it riot
<br />-paid in such ^tanner, by Borrower making, payment. when v>'_ , dire tie. to me insumlicr:arrier. - - - - All insurance policies and renewals thereof ehail be -i ; yea accrp at_Sle to Lender and shall include _a standard a torligase.clausc in favor of
<br />ana.in form aeceptablc to Lender Lender _- "ail zi _ k,. g_ht t_, -1 d llz _ .s ard renewals . urreof. and Bcr ro :vc shiall , prorap_ y furnish to _
<br />Lender all teneu•al routes and all receipts of paid prrr.::ms In the _ e. t of loss, Borrower >haii give prompt noticr;o the insti ance carrier and
<br />Lender. Lender may make proof of loss it nett mate plomptiy l r Borrower.,
<br />Unless Lender and Borrower otherwise agree in writing, insurance" proceeds shall be applied to restoration or repair of the Property
<br />damages; provided such restoration or repair s's_emnormcalit, feasible -and the securiig: of this iced of Trust b not t?terefay in:pairatl: if si b
<br />restoration Or repair is t of cconornicahlyfiraisible or if the a iri ly oftlnss 3ecd of Trust w; rid be repaired, the insurance pocclediss sha31'e
<br />agplird to the sums secured by t •s reed of 'Trust, with the excess. if any, .paid to Borrower. If the Property a abatlduned by Harrower, or if
<br />Borrower fails to respond to l miler within Sit days f Zorn the daze notice is rnaiied by Leader to Borrower trta rile insurance artier ofd rs to
<br />settle a riaim for insurance ttcnefits, Lender is authorized to collect and apply the insurarivt proceeds it' Lender's option either to restoration or
<br />repair of, lit Property or to the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree m writing, any such application,, of proceeds to principal shall not extend or postpone the dire
<br />-¢late of the monthly installments refcred to it paragraphs l and 2 hatof or change the amount of such installtt cats, 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 procimicts
<br />thereof resulting, from damage to the Property prior to the sale or acqui ' ion shall pass to Lender to the extent of the sums secured by this Heed
<br />of Trust immediately prior to such sale or acquisition.
<br />6. Preservation and Malatenance of 'Property; Lemboidst Conde—Won. Planned Volt Developments. Horrtrvtr shall keep the
<br />Property in good repan and shall not commit waste or permit mpairment or detrrioration of the Propertyand shall comply wilt theprov+;sions
<br />of arty least if thi, Deed of Trust is on a leasehold. If this Deed of Trust is ors a unit m a camdommium or a planned unit developtr,ina, Borrower
<br />stsali perform all of Bcrrower's obligations under the declaration or covenants creating or governing the condomimurn or planned unit
<br />development, the by -taws and regulations of the condonumurn or planned unn development, and constituent documents, if a ratidomin=um or
<br />planned unit development rider is executed by Borrower and recorded togetht< with ibis Deed of Trust, the covenants and agreements of such
<br />rider shall be incorporated into and shall amend and sitppicruent tyre covrriaras, and agreements of this Deed of Trust as if the rider were a part
<br />hereof.
<br />7. Protection of Lender's Security. If Brrrowcr fails to ;eci orm the 4 tosenams and agreements contained Ln this Deed of Trust, or it any
<br />artixtn os , ro T~el e " €i can ^YerY sk r h ,. a„ iai3v -{ v
<br />g a its Le., e s irteres tta t,`,c Property, including, ut rot lututtd _rneset dornxin,
<br />insolvency. code enforcement, or arrangements or proceedings uivolving a bankrupt or deccdecat, their Leader at Lc; 's option, upon notate
<br />_. v make anpearanc�es. disburse such stuns and take s=h a�iarl — is nn�Rar. m prmect L .a„t�r " "•�. mt��*: - �t
<br />to Borrower. . - �,__..��....�
<br />not limited to, disbursement of reas€r able attorney's fees and entry upon the Property to make repairs. If Leader required mortgage i suranct
<br />as a condtnon of making the loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain such insurance in effect
<br />ui d ilich time as the requirement fcsr such insurance tcrm%iates in accordance with Borrower's "and Lendtr•s writttn agrcemem or applicable
<br />Law, Hots +rnu shall pay the amount M all mortgage insurance premiums in the manner provided udder paragraph 2 hereof.
<br />Any amtAmnts- disbursed ov i_ coder ,ursuatrt to thispa.�ag,- aph'',,with interest thereon, shall1lecome additional inActnedness os likrira -er
<br />secured by this Deed of ftust. I *Ire i Borrower and Lender agree to other terms of payment, such amounts shale be payaltie u;x r, native from
<br />lender a+ Borx wee iigxcestintt pavnttat thereof, wid shall bear interest from the date of disbursement at the rate payable firm irmt o none on
<br />c stxirchrug pr.lnt rw under the 'vote units paynie'.1i or in crti: at such ;ate would be contrary Its applicable tats -.n «b:Zh cent tixh amount,
<br />shall tic a ui_crrf: A, the b.g'tcst rare prinsihsiblt Under app xzthie lane. *oohing c nlaineu .n Ont , arisrarsh " shall trstuirr t -rude: w 111.-1:," ant
<br />rwperse w take arty a�Tmi) herruruier
<br />IL lmwtk,*n t cn =„ter eta-; r*saa r =.,r : ;au-r to t =c trash sit :isr nabs .,tries ut *[vt and snsl+r, titittx r*: the }'r:r rrt;. pr.xt.se ... ".a. i. tn4cl shall
<br />_ fit... FS �taav�tr : ;mot 1 :e lrri _, ,y -.rnp ., -. 1,tsy,K'� .•, :, t1"�`C °i€ s s, .-r„is71r- .s {:z: to ,1. fria.,rde r, l e =1c•`s intta tst ire the P? gam#.
<br />Ondri,an,ur n °, -oar t,r: .t E. r +t ,_t. ,np. -.# - ..ax.r,.. - rsbapz`r -cam. or
<br />p, -_„r . •r, =, .e.,r,, .,_ .r , + rr -... _.. ., _ ,r ^. ,�.a . sirs
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