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` 104993
<br />if' Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of which are
<br />insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply
<br />the Funds to pay said taxes. assessments, insurance premiums and ground rents. Lender may not charge for so holding
<br />- and applying the Funds. analyzing said account or verifying and compiling said assessments and bills, unless L alder
<br />pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender
<br />may agree in writing at the time of execution of this Deed of Trust that interest on the Funds shall be paid to Borrower.
<br />and unless such agreement is made or applicable law requires such interest to be paid. Lender shall not be required
<br />to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower. without charge, an annual
<br />accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was
<br />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
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said
<br />taxes. assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option,
<br />either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the
<br />Funds held by Lender shall not be sufficient to pay taxes. assessments, insurance premiums and ground rents as they fall
<br />due. Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as Lender
<br />may require.
<br />Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower an
<br />Funds held by Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by
<br />Lender. Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any
<br />V Funds held by Lender at the time of application as a credit against the sums secured by this Deed of Trust.
<br />3, Application of Payments. Unless applicable law provides otherwise. all payments received by Lender under
<br />the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by
<br />Borrower under paragraph 2 hereof, then to interest payable on the Note, and then to the principal of the Note.
<br />f 4. Prior Mo tptger and Deeds of Trust; Charges; Llem- Borrower shall perform all of Borrower's obfigations
<br />under any mortgage. deed of trust or other security agreement with a lien which has priority over this Deed of Trust.
<br />including Borrower's covenants to make payments when due. Borrower shall pay or cause to be paid all taxm
<br />assessments and other charges, fines and impositions attributable to the Property which may attain a priority over this
<br />E Deed of Trust. and leasehold payments or ground rents. if any.
<br />S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />" insured against loss by fire, hazards included within the term "extended coverage". and such crater hazards as Lender
<br />Fmay require and in such amounts and for such periods as Lender may require.
<br />The insurance tamer providing the insurance shall be chosen by Borrower subject to approval by Lender; provided.
<br />that such approval shall not be unreasonably withheld. All insurance policies and renewals thereof shalt be in a form,
<br />acceptable to Lender and shalt include a standard mortgage clause in favor of and in a form acceptable to Linder.
<br />Lender shall have the right to hold the policies and renewals thereof. subject to the terms of any mortgage- deaf of trust
<br />or other security agreement with a lien which has priority over this Deed of Trust.
<br />in the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof
<br />of loss if not made promptly by Borrower.
<br />If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date
<br />notice is mailed by lender to Borrower that the insurance carver offers to settle a claim for insurance benefits. Lender is
<br />authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the
<br />Property or to the sums secured by this Deed of Trust.
<br />6. Pieae"ittisu and Mainumance of Prop"; Leaseholds; Condominisms; pionned Unit Derdopmmtat. Bor-
<br />rower shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the
<br />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
<br />on a unit in a condominium or a poinned unit development. Borrower shall perform all of Borrower's obligations under
<br />the declaration or covenants creating or governing the condomimum or planned unit development_ the by -laws and
<br />regulations ofthe condominium or planned unit development. and constituent documents_
<br />7. Protection of Lender's Secariry. If Borrower fails to perform the covenants and agreements contained in this
<br />Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the.Property:
<br />then Lender, at Lender's option, upon notice to Borrower. may make such appearances. disburse such sums, including
<br />reasonable attorneys' fees, and take such action as is necessary to protect Lender's interest. If Lender required mortgage
<br />insurance as a condition of making the loan secured by this Deed of -crust. Borrower shall pay the premiums required to
<br />maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with
<br />Borrower's and Lender's written agreement or applicable taw.
<br />Any amounts disbursed by Lender pursuant to this paragraph with interest thereon, at the Note rate. sball
<br />become additional indebtedness of Borrower secured by this Decd of Trust. [.Unless Borrower and Lender agree to
<br />other terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting p yment
<br />thereof. Nothing contained in this paragraph - shall require Lender to incur any expense or take any action hereunder,
<br />8. Inspection. Lender may make or :cruse to be made reasonable entries upon and inspections of the Property,
<br />provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor
<br />related to Lender's interest in the Property.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential. in svnneciion with
<br />any condemnation or other taking of the Protxnv, or Dart Lhereot. or for - nnvevance sn tie.t ; :f s;• �3,s are
<br />hereby assigned and shall be paid to Lender, subject to the terms of any mortgage. deed of trust or other securu% agree
<br />ment with a lien which has priority over this Deed of Trust.
<br />Ul. Borrower Not Released; Forbearance By Lends ,yin a Waiver. Extension of the time for payment ,ir
<br />modification of amortization of the sums secured by this Deed of Trust granted by Lender to any successor in interest of
<br />Borrower shall not operate to release, in any manner, the liability of the original Borrower and Borrower's succcssom in
<br />interest. Iendtt shall not he required W commence proceedings against such successor or refuse to extend tine t,vf pay
<br />mentor otherwise modify amortisation of the sums secured by this Deed of Trust be reason of ant demand made I- the
<br />rriginal Botr,mer and Rorrcrwer's uiccesviir% in interest Sns forfiearance by Linder in exercising any nigh! ,•r ±rmedc
<br />hereunder ur idlirni, iw Afor ied k +y applicut,le law. ,hall r„A he a wai,er tit ,Er pracludr thee xercise .•t ar„ +u, i, Befit sir
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