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<br />000509
<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 Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which egch
<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 />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 />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 ig 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 sutras
<br />secured by this Deed of Trust.
<br />3. Appllcattlen 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 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. Charges; Liam. 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 shah 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 />5. 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 Leader. 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 Leader 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 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 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 no 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 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 :o 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 sale or acquisition.
<br />i, Preservation sod Malailemon of Property; Leasehold; Condominiums; Phoned Unit DeveknmKift. Burrower 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 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-taws and regulations of the condominium or planned unit development, and constituent documents. If a condominium or
<br />planned unit development rider is executed by Borrower and recorded together with this Decd of Trust, the covenants and agreements of such
<br />rid" be incorporated into and shall amend and supplement the covenants and agreements of this Decd of Trust as if the rider were a part
<br />hereof.
<br />7. Protection of Leader's Seearlty. If Borrower fails to perform the covenants and agreements contained in this D"e d of 1,usl. or It any
<br />actimi, 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 nonce
<br />to Borrower, may make such appearances, disburse such sums and take such action as is necessary to protect Lender 's inicic,", induJing, but
<br />not limited to, disbursement of reasonable attorney's fees and entry upon the Property to make remrs . It l.cndci required morigagc insurance
<br />as a condition (if making the loan secured by this Deed of Trust, Borrower %hall pay the premiums required to maintain such immaricc In ellect
<br />until Ruch time all the requirement for such insurance terminates In accordance with It rfower'v and Lender's wtttlen agreement or applicable
<br />taw. rower shall pay the amount of all mortgage insurance premiums in the manner provided under paragraph : hcrc€+t.
<br />Any amounts disbursed by Lender pursuant to this paragraph 1, with tnierest thereon, shall become additional InditHedncRS of Borrower
<br />%cured by this Deed of Trust. Unless Borrower and Lender agree to either terms of payment, Such amounts shall be pavaNe upon innice Irom
<br />lAnda to Borrower requesting payment thereof, and shall hear interest scorn the date of dishurwinncnt at the rate payablc Irom time to time on
<br />outstanding pal under the Note unless rmyment of interest at Such rate would t+e coniraty to applicable law, sit which teem, .twh arnouni5
<br />s l bear Interest at the highest rate permissible under applicable law. Nwhing contained in this paiagraph ' shall requite I ender io sp ur ens
<br />expense or rake any action hereunder.
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<br />A. lasplardwoo, Lender may make Or cause in he !Wade feasomittle entries upon and ingW,.'ttom ltl the Property, pf ovnlecl that I ender shall
<br />z Viz Forrower notice prier to any such Inspitcthm srwifyina rea.si,nable tame therefor reiRted to Lender's tnterevt In the Vioper1%
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<br />-other taking of the Property, or part ihereof. or for C:onveyatice Ill lien ,,I 'ondonnattlln, .ire Iirrebv R%kilined and Shah ba paltt It, I under
<br />Irt ^tic event of a total taking of the Property, the proccedR shall be ,applied Io the '111m Serried by ihw it I'Al n1 t itm, ,slh the rscefs, It ,ant,
<br />;,a,d ±„ Ikarrowef. In the event of a partial taking of the Prorrerly, unlrs> kton,Iwet ;Intl I a_n,ler alberwls €.JRti•V M ,n nf,¢)B, 'kv2r 41ai1 P,e airphell
<br />^.k 'an, set: ere eel by tins Ileesl of Trust %uch proportion „I the hl,u'er,t, ;r, n Cglml L,, that C" "i 01„ h Ih< !W „,ur�J
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