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<br />ry' 87-100132
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<br />applicable law requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall,
<br />give to ,'witbort 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 arc ptedgird as additional security for the sums secured by this Deed of Trust.
<br />If the amount of the Fad held by Leander, together with the future monthly installments of Funds payable prior to the due dates of taxes,
<br />insurance premiums and ground rents, shall exceed the amount required to pay said taxes, assessments, insurance premiums and
<br />ground rents as they fall due, such etas shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly
<br />installments of Funds. If the amouni, of the Funds het by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and
<br />ground rents as they fall die, Borrower stall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice
<br />is mailed by Leather to Borrower requesting payment thereof.
<br />Upon payment in frill of all sums secured by this teed of Trust, Lender shall promptly refund to Borrower any Fonds held by Lender. If
<br />under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later 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 that Deed of Trust.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs I
<br />and 2 hereof shall be applied by Lander first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof, then to interest
<br />payable on the Ike, then to the principal of the Note, and then to interest and principal on any Future Advances.
<br />4. Cbmgm L lem, Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which
<br />may artain 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 snaking payment, when due, directly to the payee thereof. Borrower shall promptly furnish to
<br />Lender all notices of amounts due under this paragraph, and in the event Borrower shall make payment directly, grower 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 he required to discharge any such lien so long as Borrower shall agree in writing to the payment of the
<br />obligation secured by such lien in a manner acceptable to Lender, or shall in good faith contest such hen by, or defend enforcement of such lien
<br />in, legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />S. HararA Inumsade. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire,
<br />hazards included within the term "extended coverage ", and such other hazards as Lender may tequire and in such amounts 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 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 not
<br />paid in such manner, by Borrower making payment, when due, directly to the insurance carrier.
<br />All 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 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 carrier and
<br />Lender, Lender may matte proof of loss if not trade promptly by Borrower.
<br />Unless Lender 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 such
<br />restoration or repair is am economically feasible or if the security of this Deed of Trust would be impaired, the insurance proceeds shall be
<br />applied to the sums secured by this Deed of Trust, with the excess, 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 Lender to Borrower that the insurance carrier offers to
<br />settle a claim for insurance benefits, Leader is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or
<br />repair of the Property or to the sutras secured by this Deed of Trust.
<br />Unless Lender 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 instalments referred to in paragraphs t and 2 hereof or change the amount of such installments. If under paragraph 18
<br />hereof the Property is acquired by Leader, all right, title and interest of grower 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 Deed
<br />of Trust immediately prior to such sae or acquisition.
<br />6. Prate and a of Property: ; Condominiums; Planned Unit Developments. Borrower shall keep the
<br />Property in good repair and stall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions
<br />of any lease if this Dad of Trust is on a beasehold. It 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 .renting or governing the condominium or planned unit
<br />development, the by -laws and regulations of the condontiniun,, or planned unit development, and constituent documents. If a condominium or
<br />planned unit development rider is executed by Bo rrower and recorded together with this Deed of Trust, the covenants and agreements of such
<br />rider shall be incorporated into and stall amend and supplement the coverranis and agreements of this Deed of Trust as if the rider were a part
<br />hereof.
<br />7. Protection of Lsnder's Security. If Borrower tails ,c= ;xrkorm the- co,enants and agreements contained in this Deed of Trust, or it any
<br />action or proceeding is commenced which materially afte:ts Lender's mci --st ins the Property, including, but not limited to, cininent domain,
<br />insolvency, code enforcement, or arrangements or proceedings ;nvo;l ants a t:ankTupt or decedent, then Lender at Lender's option, upon notice
<br />to Borrower, may rake such appearanors, disburse such sums and take such action as is necessary to protect Lender's interest, including, but
<br />not limited to, disbursement ent 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 loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain such insurance in effect
<br />until such time as the requirement for such insurance terminates irr accor ,once with Borrower's and Lender's written agreement or applicable
<br />Law, Borrower stall pay the amount of all mortgage insurance premiums in the manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Leader pursuant to this paragraph I. with mterest thereon, shaii hrcome additional indebtedness of Borrower
<br />secured by this Deed of Tens. Unless Borrower and Leader agree to other terms of payment, such amounts shalt be payable upon notice from
<br />Lender to Borrower requesting payment thereof, and shall beat interest from the date of disbursement at the rate payable from time to time on
<br />outitianding principal under the Note unless payment of interest at such rate would tw contrary to applicable law, in which event such amounts
<br />shall bar . at the highest rase permissible under applicahte law. Nothing contained in this paragraph 'shalt require Lender to incur any
<br />expeow of Wes any action hereunder.
<br />(.,, S. may matte or cause to be made reasonable entries upon and inspect;ons of the Property, provided that Lender shall
<br />give PAMIDWIff notice prior toasty Such inspection specifying reasonable cause therefor related to Lender's interest in the Property.
<br />C Coadmamidea. The proceeds of any award or claim for damages, [hrcvl or Ponsoqucntial, to connection with any c'ondemtimion or
<br />Other oft Property, or part thereof. ear for conveyarwe in lick: ox condemnation, are herehy assigned acid shall be paid to Lender_
<br />In the event of a tarter taking of the Property. the procceds shall t�tpplied to Me sums sr urea; },p this !heel of Trust, with the cxrrss. !I a =is.
<br />pad to Borrower, In the evear of a partial taking of the Props ty anir_s lisirrcwer and i_Crider s7heFwt € agree in writing, there shall be applied
<br />=ss glop s r,4 by zzha, Dyed of Yrust such IMtrpcuti<ut net N� as is ,o that plot gii,,u who, h the amount got the arras w, weO
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