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6 104984
<br />applicable law requires such interest to Ise laird, -Lemdu ,hate no. be ,eyuiredzo pay Barraascr ar; ir.tct;st cr carr.trzs a,....c Fu ^d...
<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 />debit to the Funds was made. The funds are pledged as additional security for thesums secured by this Deed of Trust.
<br />if the amount of the Funds held by Lender, together with the future monthly ins ssll menu of F.;.-.Js payable p ^.'or to the due dates of taxi: -_
<br />assessments, insurance premiums and ground rents, shall exceed the amount required to pay said, taxes, asussnocnts, insurance premiums and
<br />ground rents as they fall due, such access shall be, at 8ori`owet's 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 pay tazes,.asstssments, insurance premiuEas and
<br />ground rents as they fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency wlta}ixt 3f1 tea }S ft�3m lit date rtotScc
<br />is mailed by Lender to Borrower requesting payment thereof.'
<br />Upon payment in full of all sums secured by this Deed of Trust, Lends shall promptly refund, to Borrower any Funds held by Leader. if
<br />"under paragraph 1H hereof the Property is sold or the Property is otherwise acquired by Lander, Lender shalt apply, no later than immediately
<br />prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit againrst- thesums
<br />secured by this Deed of Trust.
<br />3. Application of paymettrc. l nli .s applicable Pave prnrids otherwise, all payments rrteived by i eirflcc under the vote anti pa tagi}s I.
<br />and 2 honer f shall to applied by i .reeler first in payment of amounts payable to Lander by Borrower under paragraph 2 hermf,' lien zo iat ;erim
<br />payable on the Note, then it) the principal of the Note, and iheri to interest and principal on any Future Advances.
<br />4. ChrrrKcs; f Ions. €k -rower shall pay all taxes. assessmems and other charges, fines and impositions attributable to the Property which
<br />may attain a print ",y over thts Deed of Truss, and Iraschold payments or ground rents, if any, in the manner.provided tinder paragraph 2 heresaf
<br />or, if not paid in such manner, by horower, making€ puormcrn, when due, directly to the payee thereof. Borrows shall "prompiuy furnish to
<br />lender all notices of amounts due under this paragrapb} and in the event Borrower shall make payment directly, Borrower shall promptly
<br />furnish to Lendr. receipts evidencing such taymatts. Se outs shad promptly discharge any lien which has prio iiy over this Deed of Ts�
<br />provided, that Botrower shat' n mr bt required ro discharge an }'.suet lien so tong as Borrower shall agree in writing to the payment of the
<br />' obligation secures by such It-0 ma manne.. acceptable €a Lender, or &hail in good faith contest such lien by, or defend enforcement of such lien
<br />T in, legal proceedings which operait to prevent the criforcrnrent of the mien or forfeiture of the Property t}r any part thereof.
<br />5. Hazard Atanranee. Borrower droll keep .be impr r ements now existing or hereafter erected an the Property" insured against loss by firm',
<br />hazards included within tht term "extended :overage % and scch other hazards as L.endei z ay require and in €uctiamcimus and for stet periods
<br />as Lender may require; p-os ided. that l;en ier sha*ti rater ru �� :liar .he anaouaf of such coverage exceed that amount of coverage required :o pay,
<br />r the :.ants secured hu this Died of Trust.
<br />E, The insurance carrier providing the insurance shaft be chmen o Borrower subject to approval by Lender; prof ided_ that such approval
<br />e`
<br />shall not be unreasonably wit hhold. rill pmmiuc}s on „snranc_ police. -.'salt be Maid in the manner proyidd under paragraph 2 hereof or, I-not
<br />-- raid in such manner, b} llonr}wer risking payment, -her. sue, directly to the insurance carrier. - - -
<br />All insurance petiole., and renewals thereof sira?ltY in form acceptable to Len, and shalliitcl ufe a standard mortgage clans. in favor of
<br />and in form a}cccptable to Lender- Leader shall have the rignt to hold the policies and renewals thereof, and Borro --cs shat prismptfy� fwra� to
<br />Lender alltYntwa! ratites and.:ii receipt of paid rcnnotms. In =bc crvot of its &, Borrower shall give prompt nouct io the insurancr carrier and
<br />.. :Lender. Lender may matte proof of lose if itot made promplIv hy- Borrown. .
<br />Unless Lender acid Borrower nttterwise agree in % -itmg, r.risurance proceeds shall be applied to restoration or repair of the Property
<br />damaged, provided such re- oration or repair is economically feasible and the security of this Dud of Trust is not thereby impaired_ If such
<br />restoration or repair i± not economically feasible or if the security of this Deed of Trust would be impaired. the insurance proceeds shall be
<br />applied to the sums &enured by this Deed of Trust- with the excess, if any, paid to. Borrower, If the Property is abandoned by Borrower,_ or if
<br />Borrowet fails to rot 40rd to Leader within 20 days from the date notice is mailed by Lender to Borrower than die insurance carrot offers to
<br />smile a claim for msurance benefits. Lender is authorized to culled and apply the insurance proceeds at Lender's option .hirer to restoration or
<br />repair of the Prof uvv at a 4,hr sums &.creel by this Deed of Trust. ,
<br />Unless Lender and Borrower otherwiseagrce in writing, any such application of proceeds to principal shah not extend or pe}str- Ont the due -
<br />date of the monthly installments relented to to paragraphs I and 2 hereof or change the amount of such installitsnts. If undue paragraph Ia
<br />imeroc+f the Property is acquired by Lends, ate right, title and interest of Borrower in and to any insurance policies and in and to t3teprdceeds'
<br />thereof restating front damage to the Property pries to The We or acquisition shall }lass to Leader to the extent of time sums secured try this Deed
<br />of Trust immediatetsr prior to such sale or acquisition,
<br />ft. Preserve Lion and Maintensum of Property; L,easehoith; Condomkdums; Planned Unit Derelope tats Borrower sha11 keep tht
<br />Propeny 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 Teed of Trust is on a leasehold- if this Dud of Trust is on a unit in a condominium or a planned unit development, Bmower
<br />shall perform all of Borrower's obligations under the declaration or covenants gating or gtnert:iitg the condominium ter planned unit
<br />development, the by-laws and regulations of thecondominium or planned unit dive loprnent, and constituent doicumetus_ His condominium or
<br />planned -unit dtvelopment rider is executed by Borrower and recorded together with this Deed of Trust, the covem}aras and agreements of such
<br />rides shall be incorporated into and shall amend and supplement the covenants and agreements of this Deed of Trust as Al the idcr were a part
<br />hereof
<br />. Protection of Lender's tierurlty. If Borrower faits to perform the covenants and agrecrnrnts contained in this Deed of Twat :, or if any
<br />action err pro ceding is comrrrnced }which mai,rialiy affects Loader's interest m the Property, includmg, but not lirn;trd to, rmimm domain.
<br />insolvency, code enforcement, or arrangements or proceedings inv°ohing a bankrupt or decedent. then Lender at Lender's option, upon notice
<br />to Borrower, may mate scorch appearances, disburse such sums and take such axtion as is necessary to protect Lender's interest, including, but
<br />not limited to. disbursement of reasonable attorney's fees and entry t;Tsaxs the Lisper yte, make rcpaitx. if Lendr. required mortgage iusuram;
<br />u a condition uf' makirtn the loan sec -ared by this Heed of Trost. Borrows shall na the nrstniums teauirtxl to mamum such ussurtwce in effect
<br />until such time as the requircmc -t for such insurance terminates in accordance with Borrower's and Lender's written agreen"t or applicable
<br />'law: Borrower shall pay the amount r:f all mortgage insurance premiums in the rnammer provided under paragraph 2 hereof.
<br />Any ari citnut disbursed by Lender pursuant to this paragraph'; with interest thereon, shall bt:°tvine additional m4clievctrem of Borrower
<br />secured by this Deed of Trust_ Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable capon notice from
<br />lender to Borrower requesting payment thereof, and shall bear Interest from the date of disbursement at the rate payable from timir to time on
<br />outstanding principal under the Note unless payment of interest at such rate would tie contrary Ie applicable law, in w hich rvrr? 1ucb amounts
<br />shall bear interest at the highest rate r mmossiblt under ytspatcable law. Nothing contained in this paragraph ? shall require tender io incur any
<br />ciipense or take any action bercuridet
<br />6, lacpertiotf, Lenttr may intake or roust to txt made rtaconal}It titres uprtn ;end ittsftecsa - ± si` t' =t t rogmrt.a , , srN t.at Lunde= a -.sit.
<br />giae Ron owcrnotier lit kor to any tuch'snxpe• :.ion slseci`aing rtaxonabit r'auxr tht'rtfor rye ated to I.endrr's.in c r -t .r} ,nm A seer#,._..
<br />u. Condemnation. ';`he proctrctr ill any mwar -d or cla art tern dati,ag. , 3irr. °cc ;sr ; :..a.se.;- :re.,,ia
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