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86- 106143
<br />applicable law requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings an the Funds. Leader 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 cub
<br />debit to the Funds was tirade. The Fu n& we pkerhgsd as additional security for the sums secured by this Dad of Trull.
<br />If the amount of the Funds bald by Lauder, together with the future monthly installments of Fun& payable prior to the due data of taxes,
<br />amusements. insurance ptemitras and ground rents, shall extend the amount required to pay said taxes, asasmerms, insurance premiums and
<br />grand rests ere they tali due, suich saeces shag be, at Borrower's option, tither promptly repaid to Borrower or credited w Borrower on monthly
<br />installments of Funds. If the amount of the Fords held by I ender" ant be sufficient to pay taxes, aaasmaKs, insuramee premium and
<br />ground tams as they fail due, Borrowa shall pay to Leader any amount necessary to make up the deficiency within 30 days from the date notice
<br />is marled by Leader to Bttrrowes requesting payment thereof.
<br />Upon payment is ftM of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrows any Funds bald by Leader. if
<br />under paragraph I$ baeof tare Property b: sold or the Property is otherwise acquired by Tender er, Leader shall apply, to haw 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 against the sums
<br />secured by this Dad of Trust.
<br />3. Appl uden M PaymssMS. Unless applicable law provides otherwise, all payments received by Larder under the Note and paragraphs h
<br />and 2 hereof shall be applied by Larder first in payment of amounts payable to Lender by Borrower ureter paragraph 2 hereof, then to interest
<br />payable an the Note, then to the principal of the Note, and then to interest and principal on any Future Advances.
<br />d. C%MWW, Lens. Borrower shall pay all taxes, assessments and other charges, rues and impositions attributabie to the Property which
<br />may attain a priority over this Deed of Trust, and leaschold payments or ground rents, if any, in the manner provided under paragraph 2 hereof
<br />a, if not paid in such manner, by Borrower making payment. when dine, directly to the payee thereof. Harrower shall promptly furnish to
<br />Leader all notices of amounts due trader this paragraph, and in the event Borrower shall make payment directly. Borrower shall promptly
<br />furnish to Leader reo ipts evxknmag 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 lien so Iwhg as Borrower skull agree in writing to the payment of the
<br />obligation sotared by such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien
<br />ice, WSW proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />S. Barred fmsmramoe. Borrower shall keep the improvements now existing or hereafter erected on the Property invited against loss by fire,
<br />hazards included within the term "attended coverage ", and such other hazards as Leader may require and in such amouats and for such periods
<br />as Lender may require; provided, that Lender shall not require that the amount of such coverage exceed that amount of coverage required to pay
<br />the sums secured by this Deed of Trust.
<br />The" warier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided, that such approval
<br />shall no be msemonabiy withheld. All premiums on insurance policies shall be paid in the manner provided under paragraph 2 hereof or, if not
<br />paid in such ssaaver. by Borrows making payment, when due, directly to the insurance carrier.
<br />All imuramce policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage dawe in favor of
<br />and in fors aeoepnbit to Leader. Leader shall have the right to hold the policies and renewals thereof, and Borrower shall promptly furnish to
<br />Leader aH renewal nation and all receipts of paid premiums. In the event of loss, Borrower shall give prompt notice to the insurance carrier and
<br />Leader. Leader zany sane proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrows otherwise epee in writing, insurance proceeds shall be applied to restoration or repair of the Property
<br />dsam@ , provided such restoration or repair is economically feasible and the security of this Deed of Trust is not thereby impaired. If such
<br />restoration or repair is no eccoomicatly fusible or if the security of this Deed of Trust would be impaired, the irwnmew proceeds shall be
<br />applied to the saes secured by this Deed of 'Trust, with the excess, if any, paid to Borrower. If the Property is abandoned by Borrows, or if
<br />Borrower fails to eta, I to Leader within 30 days from the due notice is mailed by Lender to Borrower that the insurance carrier offers to
<br />settle a claim for bwarence benefits, Leader is authorized to collect and apply the insurance proceeds at ].eider's option either to restore mm or
<br />repair of the Property or to the sums secured by this Deed of Trust.
<br />Unless Tender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due
<br />date of the monthly installments refaced to in paragraphs 1 and 2 hereof or change the amount of such installments. If tinder paragraph 18
<br />hereof the Property is acquired by Leader, all right, tide and interest of Harrower in and to any inauanoe policies and in and to the proceeds
<br />thereof rnoltimg from damage to the Property prior to the sale or acquisition shall pass to Leader to the extent of the alms secured by this Deed
<br />of Trust immediately prior to such sale or acquisition.
<br />C Puarvsliaa and Mafmsmamee of Prwlerty; Leembe r Condominiums; Mused Unit Dmiapmemm. Borrower 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 leave if this Deed of Trust is on a leasehold. If this Deed of Trust is on a unit in a condominium or a planned unit development, Borrower
<br />shall perform all of Borrower's obligations under the declaration or covenants creating or governing the condominium or planned unit
<br />development. the by -laws and regulations of the condominium or planned unit development, and constituent documents. If a condominium or
<br />planned unit development rider is esuecutdd by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such
<br />h
<br />rids Wall be incorporated into and shall amend and supplement the covertants and agreements of this Deed of Trust as if the rider were a part
<br />hereof.
<br />7. PiaMcliaa of Tense's Secmriq, If Borrower fails to perform the covenants and agreements contained in this Deed of Trust, or if any
<br />action at proceeding is commenced which materially affects Lender's interest in the Property, including, but not limited to, eminent domain;
<br />buolveM. code enforcement, or arrangements or proceedings involving a bankrupt or decedent, then Lender at Lender's option, upon notice
<br />to Borrower, may make such appearances, disburse such sums and take such action as is necessary to protect Lender's interest, including, but
<br />not bowed to, disbursement of reasonable attorney's fees and entry upon the Property to make repairs. If Lender required mortgage insurance
<br />as a condition of making the firma secured by this Dead of Trust, Borrower shall pay the premiums required to maintain such insurance in effect
<br />maul such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable
<br />law. Borrows shall pay the amount of all mortgage insurance premiums in the manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional indebtedness of Borrower
<br />secured by this Deed of Trent. UnI s Borrower and Leader agree to other terms of payment, such amounts shall be payable upon notice from
<br />Lender to Borrows requesting payment thereof, and shall bear interest from the date of disbursement at the rate payable from time to thane on
<br />outstanding p rimripak under the Note unis payment of interest at such rue would be contrary to applicable law, in which event such amounts
<br />L shall bar iatarat at the highest rate permissible under applicable law. Nothing contained in this paragraph 7 shall require [cadet to incur any
<br />expense or take any action hereunder.
<br />S. lmpaciam. Leader may make or cataWe to be made reasonable entries upon and inspections of the Property, provided that Lender shall
<br />give Borrower rhotioe prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property.
<br />!. Cend medam. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or
<br />other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender.
<br />Ice the eves of a total taking of the Property, the proceeds shall be applied to the sums secured by this Deed of Taut, with the excess, i f any,
<br />paid to Borrower. In the event of a partial taking of the Property. unless Borrower and Lender otherwise agree in writing, there shall be applied
<br />to the sums secured by this Deed of Tutu such proportion of the proceeds as is equal to that proportion which the amount of the sums secured
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