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85, 000534
<br />applicable law 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 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 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 the due dates of taxes,
<br />assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes, assessments, insurance premiums and
<br />r ground rents as they fall due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly
<br />11 installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and
<br />ground rents as they fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice
<br />is mailed by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any Funds 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 this Deed of Trust.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs 1
<br />and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender 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. Clu rges; Lien. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which
<br />may attain 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 making 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, Borrower 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 be 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 lien 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. Hazard Insurance. 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 require 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 make proof of loss if not made 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 />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 not economically feasible or if the security of this Deed of Trust would be impaired, the insurance proceeds shall be
<br />applied to the sutras 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. 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 sums 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 installments referred to in paragraphs I and 2 hereof or change the amount of such installments. if under 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 pass to Lender to the extent of the sums secured by this Deed
<br />of Trust unnuAiaterly prior to such sale or acquisition.
<br />6. PrestaNallm and hislastesitsaft of Property; ; Condomidassit; Ptauaed Unh Iles ts. Borrower shall keep the
<br />Properly in good repatir and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions
<br />of any Icon if this Deed of Trust is on a leasehold. If this Deed of Trust is on a unit in a condominium or a plumed 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 rim is executed by Borrower and recorded together with this Decd of Trust, the covenants and agreements of such
<br />rider shall be incorporated d into and shall amend and supplement the covenants and agreements of this Decal of Trust as if the rider were a part
<br />hereof.
<br />7. Preftelkwof Laader's Seel rfly. If Borrower fails to perform the covenants and agreements contained in this Deed of Trust, or if any
<br />at.°fion of proceeding is commenced which materially affects Lender's interest in the Property, including, but not limited tn, eminent domain,
<br />initnivency, code enforcement. of arrangements or proceedings involving a bankrupt or decedent, then Lender at fender's option, upon notice
<br />to may make such appearances, disburse such sums and take such action as is necessary to protect Lender's interest, including, but
<br />root limited to, diaburrittintent of reasonable attorney's feces 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 insufance tefminates in accordance with &xfowct's and Lender's written agreement or applicable
<br />law. Bwower shall pay the smount of all mortgatte insurance premiums In the manner provided under paragraph 2 hereof.
<br />Any amounts dkWirsed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional indebtedness of borrower
<br />%ecured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment, such amounts shall he payable upon notice from
<br />Lender it) Botrower requesting payment thereof, and shall bear interest front the date of disbursement at the rate payable from time to time. on
<br />olatirtandial principal under the Note unkas payment of interest at such rate w €rind he contrary to applicable law, in which event %uch amounts
<br />thildl bur interest at the highlisal fate permissible under applicable law. Nothing contained in this paragraph ? shall require lender it, Incur alit'
<br />expense of take any action heteunder.
<br />8. Istaffarcillsit. Lender may make or cause, to be made reasonable eutnes upon and inspections of the Property, provided [tint lender shall
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<br />arYe Borrower notice prior lmf afly 9nCh inspection specifying reasonable Cause IEi4"refPlr related to L.enCfer's lnte"fral eat the Property.
<br />9. . The proceeds of any award or Claim for damages, defect or c €insequential, en soJJTIcl't i('u with itn0 ttlttdetntlal nlll 11I
<br />-het takia of the Property, or eft thereof, of for conveyance m lieu of cundetnnanan. are hereby assigned and shall be paid nl (.ender
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<br />i hit the event of a total taking of the Properly, the pl'tx :eW,% %hall her applied Ill the su n5 4miretl 11% Ow t "Mi of I l u'l. 1%9111 the rNit S1, It ant',
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<br />Pald 14) lhsrrowef. It, the event of a partial taking of the Properly, nude%% dfmtelwel and I endet or het wl Rr a sae 1I1 la Plt 111 t1, lrl r'ef wrl:iil he ap(1IVrd
<br />to Pfau %dins& wtured by this Eked of 'trust inch propxxtiou of the pvtwre(h%..), t�. vllslni to [hal ptorvorl -n ahli if tht' lilt- 1 ;II�t .'.�, .ttnl. Set filed
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