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<br />87- 00161
<br />applicable law requires such interest to be paid, Leader shall AM be ragulnd to pay Bon'otver any interest or WRiOP On the I
<br />give to Borrower, without charge, an annual accounting of the Funde sbowi g aeaN +cad debits to the Funds and the Purm fob which each
<br />debb; to the Funds was made. The Rends sue ~ as additional murky for the am worst by this Dtrsd of Trust.
<br />If the mourat of the Fiends hold by Leodar, together with the flare MOW* installments of Fends payable price to the dos dam of tism,
<br />anesessio, insurance lam and grid Mons, don teed the amount nquired to pay said Win, cad
<br />ground nets as they fail dnx, such WAMS OW be, at 's option, either promptly repaid to Narrow or crofted to Norralm ON MOXWY
<br />meralksmis of . if the ismoust of the Funds MW by Larder tali so be offloing to pay Testes, mmmew. WAWMN KOWNM and
<br />ground fees as they fan due, Borrower ahan pay to Leader any amow ministry to make up the dsficiatcy within 30 days from the data
<br />is mailed by Leader to borrower r' payraft thereof. °
<br />Upon payment in fun of all runs secured by this Deed of Trust, Leader sbali promptly refund to Borrower stony Funcls held by l ender. If
<br />under parttgraltit 16 hereof the property is sold or the Property is ohs-in acquits! by Lender, Leader than apply. no latter than immo&WY
<br />prior to the sale of the Property or its acquisition Ey Lender, any Funds hid by Lender at the time of application an a credit ageing the stems
<br />secured by this Deed of Trust.
<br />3. Application Of Pnmmts. Unless Applicable law provides ahawwise, all payments received by Lender under the NOW and I
<br />and 2 haoof shan be applied by Lender der first in payment of amounts payable to Leader by Borrower under paragraph 2 hereof, that to interest
<br />payable on the Note, then to the principal of the Note, std that to insist and principal on any Future Advances.
<br />I. Cberps; Lim. Borrower dull pay an taxi, antsoments and other charges, Haws and imposkirms attributable to the Property which
<br />may attain a priority over this Deed of Trust, mW leasehold payments or ground rafts, if any. in the manner provided under paragraph 2 hereof
<br />or, if not paid in such manner, by Borrower making payment, when dux, directly to the payee thereof. Borrower shin promptly furnish to
<br />Lender all notices of amounts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly
<br />furnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lion which has priority over this Deed of Trust;
<br />provided, that Borrower shall not be required to discharp any such lion so long to Borrower shall agree in writing to the payment of the
<br />obligation secured by such lien in a manner erectable to Lander. or shall in good faith contest such lien by, or defend enforcement of such lien
<br />in, legal proceedings which operate to prevent the enforcement of the lien or forfelture of the Property or any part thereof.
<br />S. Haaasd Issaranee. Borrower shah keep the improvements now existing or hereafter erected on the Property insured against loss by fire,
<br />hazards included within the term "extended coverap ", and such other hazards as Lander may require and in such amounts and for such periods
<br />as Lend may require; provided, that Lender shall not require that the amount of such coverage exceed that amount of coverage required to POLY
<br />the soon secured by this Deed of Trust.
<br />The insurance carrier providing the bouratnce shun be chosen by Borrower subject to aWoval by Leader; provided, that such approval
<br />shall not be unreasonably withheld. All premiums on inauramce polities 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 currier.
<br />Ali insurance polities and renewals thereof shall be in form acceptable to Lander 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 polities 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 nice to the insurance carrier and
<br />Lender. Lender may maize proof of loss if not made promptly by Borrower.
<br />Union Laider and Borrower otherwise agree in writing, insurance proceeds shall be applied to remaatiom of repair of the Property
<br />damaged, provided such restoratia or repair is economically feasible and the security of this Deed of Trust is not thereby impaired. If such
<br />restoration or repair is not 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 cares, 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 [.ender 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 to restoration or
<br />repair of the Property or to the suns secured by this Dad of Trust.
<br />Unless Leander and Borrower otherwise agree in writing, any rich application of proceeds to principal dun not extend or postpone the due
<br />date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments. If under paragraph IS
<br />hereof the Property is acquired by Lender, an 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 rhle Deed
<br />of Trust immediately prior to such sale or acquisition.
<br />6. Preservation and hisistoom of Property; Iwaselielda; C.andeninlams: Plssnd Usk Develepe s els. 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 lease if this Deed of Trust is on a leasehold. If this Deed of Trust is on a unit in a condominiums 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 rifler is executed by Borrower and recorded together with this Deed of Trust, the covenants and agerenents of such
<br />rider shall be incorporated into and shun amend and supplement the covenants and agreements of this Deed of Trust as if the rider were a part
<br />hereof.
<br />7. Protection of Leader's Security. If Borrower fails to perform the covenants and agreements contained in this Deed 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 appearances, disburse such sums and take such action as is necessary to protext Lender's interest, including, but
<br />not limited to. disbursement of reasonable attorney's fees and entry upon the Property to make repairs. I£ Lender required mortgage insurance
<br />a a condition of making the lean 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 in accordance with Borrower's and Lender's written agreement or applicable
<br />law. Borrower 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 Trust. Unless Borrower and Gala apex to other terms of payment, such amounts shall be payable upon notice from
<br />Lender to Borrower requesting payment thereof, and stall bear interest fran the date of disbursement at the rate payable from time to time on
<br />outstanding principal undo the Noe unien payment of intarest at such rate would be contrary to applicable law, in which event such amounts
<br />shall bow interest at the highest rata parnissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any
<br />expain or take any action hereunder.
<br />g. tioliesion. Lender may maize or cause to be mks reasonable entries upon and inspections of the Property, provided that Lender shall
<br />rive Morrower news prior to any such inspection specifying resoonable cause therefor related to Lender's interest in the Property.
<br />e. C49dommades, The proceedir of any award or chasm for damages, direct or consequential, in connection with any condemnation or
<br />other taking of the Property, or part thereof, or for conveyance in ilea of condemnation, are hereby amigned and shall be paid to Lender.
<br />In the evem of a total talking of the Property, the proceph shall he applied to the stuns secured by this l eW of Trust, with the excess, sf any,
<br />pord nci hortower, In the event of it partial taking of the Nopaly, unless grower and Geaidcr othetwise agFor im writing, tie shall be aprpiiext
<br />u) rbe iums w.ured key this LVW of `freest such proportion of the procft4s as ns equal to that ptotn,rtaaan which the Witoant of the aunts ssLm t
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