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86- 105197
<br />applicabie law requirev such mtcre..i ;c l+e paid. Lender shall not he required to pay Borrower any interest or earnings on the Funds. Lender shall
<br />__._err accounirg of the Funds showing cr^di --ls and debits to the Funds and the purpt+se for hiufi each
<br />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 +^stnm^Ats of Funds payable prior to the due dates of taxi.
<br />assessments. msuranor premiums and ground rem , shall exceed the amount reeptired to pay said tam, asses, nisurancr premiums and
<br />ground trots as they fall due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly
<br />insuallmmu of Funds. If the amount of the Funds held by Linder shall not be sufficient to pay taxes, assessments, insurance premiums and
<br />ground rants 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 stints secured by this Deed of Trust, Lender shall promptly refund to Borrower any Funds held by Lauder. if
<br />under paragraph I hereof the Property is sold or the Property is otherwise acquire! by Lender, Lender shall apply, no later than immediately
<br />prior to the sak of the Property or its acquisition by Lender, any funds held by Lander at the time of apptic abort as a credit against the Sums
<br />secured by this Deed of Trust.
<br />3. Application of Payssaoss. Unless applicable law provides otherwise, all payments race ved by Lender under the Note and paragraphs I
<br />and 2 hereof shall be applied by Lender fast in payment of amounts payable to Lender by Borrower under paragraph 2 hereof, then to interest
<br />payable on the Note, then to the principal of the Note, and then to inner and principal on any Furure Advances.
<br />t. CYages; l3e=_ Borrower shall pay all taxes, assessments and other charges, fitter 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, directly to the payee thereof. Borrower shall promptly furnish to
<br />Leader all notices of amounts due under this paragraph, and in the even 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 it= so long as Borrows shall agree in writing to the payment of the
<br />obligation secured by such hen in a manner acceptable to Lender. cr shall in good faith contest such lien by, or defend enforcement of such lien
<br />in, legal proceedings which operate to prevent the cnforoemem of the lien or forfeiture of the Property or any part thereof_
<br />5. Howard Iaaataam. Borrower shall keep: the improvements now existing or hereafter erected on the Property insured against loss by fine.
<br />within the term "e -tended coverage", and suer. other fiazards as Lender tray require and it.. such amounts and for such periods
<br />as Linder may require. provided, that Lender shall not require that the ameum of such coverage exceed that amount of coverage required to pay
<br />the sums secured by this Deed of Trust.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender: provided, that such approval
<br />shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner provided under paragraph 2 hereof or. if rot
<br />paid in such manner, by Borrower making payment, when due, directly to' he insurance carrier.
<br />All insurer= policies and renewals thereof shall be in form acceptable to Linder 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 --arncr and
<br />Lender. Linder may snake proof of loss if not made promptly by Borrower.
<br />Unim I ender and Borrower otherwise agree in 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 tech
<br />restoration or reps is net economically feasible or if the security of this Deed of Tom would be impaired, the insurance proceeds shall be
<br />applied to the surat secured by this Dad of Trust, with the access, if any, paid to Borrower. If the Property is abandoned by Borrower, or if
<br />Borrower fah to respond to Linder within 30 days from the date notice is mailed by Lender to Borrower that the insurance c:amt r offers W
<br />settle a claim for insurance benefits, Linder is authorized to collect and apply the insurance r rocceds at I an 's option errs to restoration or
<br />repair of the Property or to the sums secured by this Deed of T-=.
<br />UTian Lander and Bar rows otbc wise as = in wciuug, any such application of proceeds Lo opal shall not extend nd or poSioir the ate
<br />date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of such insudbilrents. if under paragraph 18
<br />hereof the Property is acquired by Linder, 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 Dead
<br />of Trust immediately prior to such sale or acquisition.
<br />6. Ptezes,, a and IMdNaaaave of Property: Lmel ohs; C sdoaidtma; Plaae.ed Unit ITevdogaw4. Harrower 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 r this Deed of Trust is on a leasehold- if this Deed of Trust A on a unit in a condominium or a planned unit development, Borrower
<br />shall perform all of Borowe's obligations under the aeciaration or araenants mating or governing the condominium or planned unit
<br />development. =he by-laws and regulations of tine wndouunium or planned unit development. and constituent documents. If a condominium or
<br />planned unit development rider is executed by Borrower Std recorded Together with this Deed of Trust, the envmants and agreements of such
<br />rider shall be incorporated into and shall amend and suppiemrnt the covasanu and agreements of this Deed of Trust as if the rider were a part
<br />hereof.
<br />3. Protection of Leader's Seevhy. if Bozo %ct tails at per term the cosenatus and agreements containea in ,his Deed of Trust, or if any
<br />action or proceeding is commented which materia ly affcc-ts Lcnae*'z intense in the Property, including, but not limited tc, rem +Went domain
<br />irsohency, code enforcement, or arrangements or proceedings msai mg a bank -ups nr dectacnt, ;h ^- Lender a: Len der < option. upon notice
<br />to Borrower, ma} make such appearances, disburse such Burris and ,Ac ;tech acton as as necessar to pr, -sec:: vender s interest, including, but
<br />not limited to. disbursement of reasonable alto ney's fees and entry upon the Property to mast rcpalrs, i Lender requi;ec mortgage msuran;
<br />as a condition of making the loan secured by this Deed of Trust, Borrower shall pay the pr- -nuumF refit i>ed to maintain such insurance in effect
<br />until such Time a4 the .requirement for such ;nsi rance ,s: ;main ;_ accordance with Borrower', and Lena --', written agreement or applicable
<br />law, Borrower snail pay the amount of all mortgage insurance premiums in the ma =ever provided under paragrap. ^.::rereof.
<br />Amy amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, snail bea,ome additional indebtedness of Borrower
<br />secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment, such amounts shall be 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 tinder the Note unless payment of interest at such rate would be contran to applicable paw, in which event such amounts
<br />shall bear interest at the highest rate permissible under applicable law. Nothing contained in this paragraph ? shall require Lender to incur any
<br />expense or Take any action hereunder.
<br />5. Inspec"a. Lender may make: or cause to be made reasonable entries upon and inspections of the Property, provided that Lender shall
<br />give Borrower notice prior to any such inspection specifying reasonable cause therefor minted to Lender's interest in the Property-
<br />9. Condenna6m. The proceeds of any award or claim for damages, dire: at consequential, in connection with any condemnation, u;
<br />other taking, of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and shalt be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall he applied to the sutra secured bs thus feed of l rust, with the cxccss. x'
<br />paid to Borrower. In the event of a partial taking of the Property_ unless Borrowv and Lender otherwise agree in %riling, there shall he appbcd
<br />to the sums secured by this Dead of Trust such proportion of the procestxis as is equal to that propxli errin w his n the amount of the sums we:Urrc:
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