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<br />�apPlicab a
<br />�s terest to be paid, Lender shall not be r uired to give to Borrow an annual accounting of the Funds showing credits rand debits sthe t Funds. Lender shall
<br />debit
<br />to the Funds and
<br />to the Funds was made, The Funds are pledged as additional security for the sums secured by this Deed of Trust, purpose for which each
<br />If the amount of the Funds held by Lender,
<br />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
<br />amount required to pay said taxes, assessments, insurance preniirms and
<br />ground : ents as they fall due, such excess shall be, at Borrower's option, either promptly repaid to Borrower
<br />installments of Funds. If
<br />or credited to Borrower on monthly
<br />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
<br />amount necessary to make up the deficiency within 30 days from the date notic,,
<br />is mailed by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all slims secured by this Deed of Trust, Lender shall promptly refund to Borrower any Fiends held by Lender. If
<br />under paragraph IS hereof the Property is sold or the Property is
<br />otherwise acquired by Lender, Lender shall apply, no later than immediately
<br />Prior to the sate of the Property or its acquisition by Lender, any Funds held by Lender
<br />secured by
<br />this Deed of Trust. at the time of application as a credit against the sums
<br />3' Application of Payagniggits. Unless applicable law provides otherwise, all pavments received by Lender under the Note
<br />and 2 hereof shall be applied by Lender first in
<br />and paragraphs I
<br />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
<br />and principal on any Future Advances.
<br />4' CIS, Lim' Borrower shall pay all taxes, assessments and other
<br />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
<br />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
<br />furnish to Lender
<br />payment directly, Borrower shall promptly
<br />receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Deed
<br />provided, that Borrower shall not be required to discharge T
<br />of Trust;
<br />an y such lien so long as Borrower shall agree in writing to the payment
<br />obligation secured by such lien in a manner acceptable to L.endec, or shall in good faith contest
<br />the
<br />in, legal
<br />such lien by, or defend enforcemen
<br />proceedings which Operate to prevent the enforcement Of the lien err forfeiture of the Property or any part thereof. t of such lien
<br />S. Hat" 1ussionges. Borrower shall keep
<br />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
<br />Lender
<br />as may require and in such amounts and for such periods
<br />may require•, provided, that Lender shall not require that the amount of such coverage exceed that amount
<br />the sums secured by this Deed Trust.
<br />of of coverage required to pay
<br />The insurance carrier providing the insurance
<br />shall be chosen by Borrower subject to approval by lender; provided, that such approval
<br />shall not be unreasonably withheld. All premiums on insurance
<br />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
<br />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
<br />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
<br />Lender. Lender may make
<br />notice to the insurance carrier and
<br />proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower
<br />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
<br />restoration
<br />Deed of Trust is not thereby impaired. if such
<br />or repair is not economically feasible or if the security of this Deed of Trust would be impaired, the insurance
<br />applied to the sums secured by this Deed of Trust,
<br />proceeds shall be
<br />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
<br />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 th_ insurance
<br />repair of the Property or to the sums secured by this peed of Trust.
<br />proceeds at Lender's option either to restoration or
<br />Unless Lender and Borrower otherwise
<br />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 t and 2 hereof or change
<br />hereof
<br />the amount of such installments. if under paragraph iS
<br />the Property is acquired by Lender, all right, title and interest of Borrower in and to any insurance policies and in and to the
<br />thereof resulting from damage to the property prior to the
<br />proceeds
<br />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 />s.
<br />Property in P"Mrvsdon
<br />r aM wee of IProourry; Le_ehW&; C' ms; Planned U�t
<br />g t pair and shall not comma waste or permit im ts. Borrower shall keep the
<br />of any least if ills pa ;rmcnt or deterioration of the Property and shall comply with the provisions
<br />Deed of Trust is on a leasehold. If this Deed of Trust
<br />is on a unit in a condominium or a
<br />shall Pcrform all of Borrower's obligations under the declaration or covenants creating plan unit development, Harrower
<br />development, the by-laws n Or
<br />governing the condominium or planned emit
<br />and regulations of the condominium or planned unit development.
<br />Planned unit development rider is executed
<br />pment, and constituent documents.
<br />by Borrower and recorded t If a condominium or
<br />rider shall be incorporated together with this Deed of Trust, the covenants and agreements of such
<br />rporated into and stud) amend and supplement the
<br />hereof, covenants and sarcements of this Deed of Trust as if the rider
<br />were a part
<br />7. PTOftelMN of Lender's 9ecnrhty. If Borrower
<br />fails to Perform the covenants and agreements contained in this Deers of Trust, or if any
<br />action or proceeding is commenced which materially affects Lender's interest in the Property, including,
<br />insolvency. code enforcement,
<br />but not limited to, eminent domain,
<br />or arrangements or Proceedings involving a bankrupt or decedent, then lender at hander's option,
<br />to Borrower, may snake such appearances, disburse
<br />u
<br />tort limited to, deg "abw p pen notice
<br />such sums and take such action as is necessary to protect Lender's interest, including, but
<br />disbursement reasonable attorney's fees and entry
<br />upon the Property to make repairs. If Lender ragweed mortgage insurance
<br />o
<br />as a condition of making else (tram secured by this Deer! of Trust. Borrower shall Pay the
<br />trnttl such time as the
<br />Premiums required to maintain such insurance in effect
<br />requirement for such insurance terminates in accordance with Borrower's and Lender's written nSirentelit
<br />taw' Borrower shall pay the amount Of all mortgage insurance
<br />on appSicab!c
<br />premiums in the manner provided under Paragraph., hereof.
<br />Any amounts disbursed by Leader pursuant to this Paragraph 7,
<br />% muted by this of Trust. Union Borrower and I.ender
<br />with interest thereon, shall bnome additional indebtedness of Borrower
<br />1, to Borrower agree to other terms of payment, such
<br />requesting
<br />amounts shale he Payable uPan notice fmm
<br />payment thereof, and shall bear intarext lion, file date of disbursement at the rate payable front time to time
<br />outgraudgaill Principal undtf the Note unless payment Of
<br />on
<br />vhali bow interest at the hi able u
<br />highest rate permissible under applicable Saw. Nothinpi
<br />cxPwn9t pplicab at such rate would be contrary to applicable law. in which event such amounts
<br />err take any action thereunder,
<br />contahied in this Paragraph "' shall require Lender its incur arty
<br />I, IMPKdoe. Lendet may make
<br />of cause to tit made reasonable entries uPxln and ins >
<br />KlVe Borrower notice Prior to any such inApQtitjpfl S Mllnns of the P r(Iperty, provldl'tl that I. e'tlder shall
<br />�• specifying reasonable cause therefor related 10 I,ertdef,s
<br />fgfg
<br />Ialete6l Ill the Ill o
<br />Pfocceds of any award of claim for diullaaes, direct tit come IK:4tl'.
<br />,it her taking of the Pfrtp @/IY, of Padt (hF,tet)f, lie for 1'tinveyarlce It, lieu mnatlon
<br />herrhvaa%jIgnedlall,, �n.aa
<br />of
<br />of t (Irid"llnalion. ire
<br />I�1P.ail1 I"oll I
<br />In time event of a total faking of the Property, the Ptoverds shall he applied hi the Burns sccuretf by this
<br />;mod to lifltfuwer In the event ,,
<br />1>€ 9 of Trust_ th the• Brae %, tt Aar,
<br />of a lmrtial taking of the Prolicrrv, uniess llorrowet ;end Lender r.
<br />: iR >=' kFl rfls tez:nffA by thle Deed if rrust such pforw,rllon
<br />the "1 w94e fl�'fee Ili -111111F.,
<br />of ILIA' )f' ijli'it` �Ilrll fM NPlpheif
<br />{ tifrFIF ;?;, Il f,1114I fcl Thal l'"I Ills 11l'1111:il lt"i
<br />1Ille Iltll ,.1 f110 1111th H`i' 11 1,l
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