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86-- 107472
<br />applicable law requires such interest to be paid. Lends shalt ON be required to pay Borrower any Interest or cerniap on the Funds. I.esda shall
<br />five 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 pledpd as additional security for the sums wowed by this Dad of Trust.
<br />If the amount of the Funds bald by Lander, together with the future =ON* instaNMMU of Fonds payable prior to the dug data of tuff,
<br />onam mu, insurance premiums and ground rants, AM aced the amotrat required to pay BOW tam. "NUMBS% insurance pradums and
<br />ground rents as they tall due. such excess shall be, at Dorrowsr's option, either promptly, repaid to Borrower or crafted to Borrower on monthly
<br />installments of Funds. If the amount of the Funds held by Leader shell not be aflfcimt to pay taxes, assntamts, ineasnoe premiums and
<br />pound rents a they fag doss, Borrower shall pay to imsder wy amount oennary to make up the deficiency within 30 days from the date notice
<br />is mailed by I ruder to Borrows requesdn f payment thereof.
<br />Upon payment in full of all sums secured by this Deed of Trust. I ersder shall promptly refund to Borrows any Funds held by Lander. If
<br />I ender paragraph It hereof the Property is sold or the Property Is otherwise acquired by Lends, Lender dull apply, no later than imoedtudY
<br />prior to the sale of the Property or its aequiddoo by Leader, any Pumds hold by header at the time of application as a credit against the suns
<br />secured by this Dad of Trust.
<br />3. APPMadBa of llim s. Unless applicable law provides other+ vise, all payments received by Leads under the Note rod paragraphs 1
<br />and 2 hereof shall be applied by Leader first in payment of amounts payable to I.eoder by Borrower under paragraph 2 hereof. then to interest
<br />payable on the Note. then to the principal of the Note, and then to interest and principal on any Future Advances.
<br />4. Garym Lhss. Borrower shall pay all taxer, assessments and other cberges, fines and impositions attributable to the Property which
<br />may attain a priority over this Deed of Trust, and lembold payments or pound rata, if any, in the manner provided under paragraph 21 P , , f
<br />or. if not paid in such manner, by Borrower soaking payment, when date, directly to the pays thereof. Borrower dug promptly furnish to
<br />Leader all notices of amount due under this paragraph, and in the event Borrower shall make payment directly. Borrower shall promptly
<br />furnish to Lends receipts evidencing such payments. Borrower shall promptly discharge any lien which hss priority over thin Deed of Trust;
<br />provided, that Borrows shalt not be inquired to discharge any such Ilea so bog as Borrows shag agree in writing to the payment of the
<br />obligation secured by such lien in a manner acceptable to Leader, or shalt in good faith contest each lien by, or defend enforcement of such lien
<br />in. kW proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />S. Record lawaaoe. Borrower &ball keep the improvements now existing or hereafter erected on the Property insured against loss by fire,
<br />hazards included within the term "extended cowragr", and such other hazards as Lender may require and in such amounts and for such periods
<br />Be Leader may require; provided, that Leader shall not require that the amount of such coverer exceed that amount of coverage required to gray
<br />the sums secured by this Deed of Trust.
<br />The imuranoe carrier providing the insurance shall be chosen by Borrower subject to approval by L ender; provided, that such approval
<br />shag awn be unreasonably withhold. All premiums on insurance policies shall be paid in the manner provided under paragraph 2 hereof or, if not
<br />paid in such manner, by Borrower making payment. when date, directly to the insurance carrier.
<br />AB insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage clause in favor of
<br />and in form acceptable to Lends. 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. Borrows shall give prompt notice to the insurance carrier and
<br />Lender. Leader may make proof of loss if not made promptly by Borrows.
<br />Unless Leader and Borrows otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property
<br />damaged, provided much restoration or repair is economically feasible aad the security of this Deed of Trust is not thereby unpaired. If such
<br />restoration or repair :> awn economically feasible or if the security of this Dead of Trust would be ire- I I the iamreaxa proceeds shall be
<br />applied to the sums secured by this Deed of Trust. with the excass, if any, paid to Borrower. If the Property is abandoned by Borrower, or if
<br />Borrower fails to respond to Lender within 30 days from the date notice is mailed by Leander to Borrower that the insurance carrier offers to
<br />settle a claim for insurance benefits. Lender is authorized to collect and apply the insurance proceeds at Lender's option either w restoration or
<br />repair of the Property or to the sums secured by this Deed of True.
<br />Unless Leader 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 referred to in paragraphs I and 2 hereof or change the amount of such iustailmeots. If wrier paragraph 18
<br />hereof the Property is acquired by Lender. 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 pan to Lender to the cam of the cams sermred by this Deed
<br />of Trust immediately prior to such sale or acquisition.
<br />a. Treservadea and Maiasaaaee of Prepsrty; Lmubadr Ceadenlairsss; Pleaad Usk Developments. Borrower shall keep the
<br />Property in good repair and shall not commit waste or permit impairment or deterioration of the Property Bad shag comply with the provisions
<br />of any lase if this Deed of Trust is on a lemehold. If this Dad of Trout is on a unit in a condominiums or a planned unit development, Borrower
<br />shall perform alt of Borrower's obligations tinder the declaration or covenants creating or governing the condominium or planned unit
<br />development, the by-laws and regulations of the condominium or planted unit development, and constituent documents. If a condominium or
<br />planned unit development ridcrs executed by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such
<br />rider stall be incorporated into and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider wen a part
<br />hereof.
<br />7. Prossetlea of Leadw's SBnrily. If Borrower fails to perform the covenants and agreements contained in this Dad of Trust, or if any
<br />action or proceeding is commenced which materially affects Lender's interest in the Property, including, but not limited to, eminent domain,
<br />insolvency, 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 apparamces, disburse such sums and take such action as is necessary to protect Lender's interest, including, but
<br />not limited to, disbursement of reasonable attorney's fees and entry upon the Property to snake repairs. If Lender required mortgage insurance
<br />as a condition of making the loan secured by this Deed of Trust, Borrower shall may the premiums required to maintain such insurance in effect
<br />until such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable
<br />law. BNTower shall pay the amount of all mortgage insurance premiums in the manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lander pursuant to this paragraph 7, with interest thereon, shall become additional indebtedness of Borrower
<br />segued by that Deed of Trust. Unless Borrower and Lender g to ether terms of payment, such amounts shall be payable upon notice from
<br />Linder 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 under the Note unless payment of interest at such rate would be contrary to applicable law, in which event such amounts
<br />shall bar interest at the highest rate permissible under apptksble law. Nothing contained in this paragraph 7 shall require Lender to incur any
<br />F e&pare or take any action hereunder.
<br />Lg. iagselNa. Leader 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 rich inspection specifying reasonable cause therefor related to Lender's interest in the Property.
<br />f. Ceademeadm. The proceeds of guy 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 />In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this heed of True, with the ucess, if am.
<br />pad to Brsrrower. In the event of a partial taking of the Property, unless Borrower and Lender otherwise agree in writing, then shall be applied h
<br />to the suns secured by this Deed of Trust such proportion of the proceeds as is equal to that proportion which the amount of the sums secured
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