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86
<br />.... 105441
<br />If Borrower pays Funds to Lender, the Funds shall be held in an institution the daposits 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 Lender
<br />pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Gender
<br />may agree in writing at the time of execution of this Deed of Trust that interest on the Funds shalt 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. Gender 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 any
<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 />Funds held by Gender at the time of application as a credit against the sums secured by this Deed of Trust.
<br />3. Applleatian of Payasenta. 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 />4. Prkr Mortgno and Deeds of Tract; Chargas; Liens. Borrower shall perform all of Borrower's obligations
<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 taxes,
<br />assessments and other charges, fines and impositions attributable to the Property which may attain a priority over this
<br />Deed of Trust, and leasehold payments or ground rents, if any.
<br />S. )Hazard Inseatsee. Borrower shalt 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 other hazards as Lender
<br />may require and in such amounts and for such periods as Lender may require.
<br />The insurance carrier 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 shall be in a form
<br />acceptable to Lender and shall include a standard mortgage clause in favor of and in a form acceptable to Lender.
<br />Lender shall have the right to hold the policies and renewals thereof. subject to the terms of any mortgage. deed 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 carrier 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. Preservation and Maintenaaoe of Property; Leaseholds; Condominiums; Planned Unit Developments. Bor-
<br />ro+ver 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 planned unit development. Borrower shall perform all of Borrower's obligations under
<br />the declaration or covenants creating or governing the condominium or planned unit development, the by -taws and
<br />regulations of the condominium or planned unit development. and constituent documents.
<br />7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this
<br />Deed of Trust, or if any action or proceeding 6 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 Trust. 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 law.
<br />Any amounts disbursed by Lender pursuant to this paragraph ", with interest thereon. at the Note rate. shall
<br />become additional indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree stn
<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 7 shall require Lender to incur any expense or take any action hereunder.
<br />S. Inapeedow. Lender may make or cause 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. Candsristatiae. The proceeds of any award or claim for damages, direct or consequential. in connection with
<br />any condemnation or other taking of the Property, or part thereof. or for conveyance in lieu of condemnation. are
<br />hereby assigned and shall be paid to Lender, subject to the terms of any mortgage, deed of trust or other security agree-
<br />ment with a lien which has priority over this Deed of Trust.
<br />1 111. Borrower Not iidsased; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br />Lmodification of amortization of the sums secured by this Deed of Trust granted by Lender to any success r to interest of Borrower shall not operate to release, in any manner. the liability of the original Borrower and Borrower'% successon in
<br />interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time for pay
<br />meet or otherwise modify amortization of the sums secured by this Deed of Trust by reason of and cicm:rnd matte t•y thr
<br />original Borrower and Borrower's successors in interest. Any forbearance by Lender to exercising inv right or rvined.
<br />hereunder, or otherwise atforded by applicable law. `hall riot he a waatyer tit or preclude the exerznca of ill% Such rte hl of
<br />remedy
<br />11. Successon and Assigns Bound; Joint and Several Liability, C o- signrrs. thr .o cr-,iw\ ,w,!
<br />herein contained ,.hall hirxt, ind the rights hereunder %hall inure it?, the rt,,.[ ctt,t' ond O".ts;il. ,,t ( r110rr .ants
<br />K)rrower, subject to the provtstorr, A paragraph Ih hereof_ All cot eti arat% and rgreerr.eitt; ,t .l 4l
<br />New ral AnY Horfo, %cs who co ;tgnx this Deed of'Trust. but 414ioi nor extyiltie the N „1., !,O 1” k o �Ji,�Ilwg :hi, l vvd �l 1 <11,t
<br />".
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