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85—
<br />e 001394
<br />1 Y j
<br />applicabtiliw" Cqutres 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
<br />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
<br />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,
<br />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
<br />or credited to Borrower on monthly
<br />installments of Fluids. If the amount of the Funds held by Lender shall not be sufficient to
<br />pay taxes, assessments, insurance premiums and
<br />ground rents as they fail due, Borrower shall pay to Lender any amount ncccssary to make up the deficiency within 30 days from the date notice
<br />is mailed by Lender to Borrower
<br />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
<br />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
<br />secured by this Deed of Trust. as a credit against the sums
<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 Lender first in
<br />payment of amounts payable to Lender by Borrower under paragraph 2 hereof, [hen to interest
<br />payable on the Note, then to the principal of the Note,
<br />and then to interest and principal on any Future Advances.
<br />4. Charges: Boas. Borrower shall pay all taxes,
<br />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
<br />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
<br />shall promptly furnish [o
<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
<br />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 long
<br />so as Borrower shall agree in writing to the payment of the
<br />obligation secured by such lien in a manner acceptable to 1_ender, or shall in faith
<br />good 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 thereof.
<br />part
<br />S. Hazard Inaatance. 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 ",
<br />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
<br />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 he chosen by Borrower subject to approval by Lender; provided, that such approval
<br />shall net be unreasonably withheld. All premiums on
<br />insurance policies shall be paid in the manner provided under paragraph 2 hereof or, if not
<br />paid in such manner, by Borrower making
<br />payment, when due• directly to the insurance carrier.
<br />Ali insurance policies and renewals thereof shall be in form acceptable to Lender and include
<br />shall 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
<br />shall promptly furnish to
<br />Lender all renewal notices and all receipts of paid premiums. In the event of loss. Borrower shall
<br />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 />damaged, provided such restoration or repair is
<br />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 Trust
<br />of would be impaired, the insurance proceeds shall be
<br />applied to the sums secured by this Deed of Trust, with the excess, it any, paid to Borrower. If the Property is abandoned by Borrower, or if
<br />Borrower fails to respond to Lender within 30 days
<br />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
<br />and apply the insurance proceeds at Lender's option either to restoration or
<br />repair of the Property or to the stuns secured by this Dad of Trust.
<br />Unkss 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
<br />paragraphs 1 and 2 hereof or change the amount of such installments. if under paragraph Is
<br />hereof the Property is acquired by Lender, all right, title and interest of Borrower In and to any insurance
<br />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 Decd
<br />of Trust immediately prior to such sale or acquisition.
<br />g• Preservation and Midommoner of hapartyt I t ('
<br />Property in and !° . Borrow'cr shag kelp the
<br />[� y g repair and shall not commit waste or Permit impairment or deterioration of the Pro plan shall comply with the
<br />of any if this Deed Trust
<br />of provisions
<br />is on a old. 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
<br />co
<br />or governing the condominium or planned serail
<br />u
<br />development. the by-taws and regulations of the condominium or planned unit devc
<br />t, and constituent documents. t f a condotnned
<br />or
<br />seed unit development rioter is executed by Borrower and recorded fogefPaef witll this f of Trust, the covenants arld a$rt�meris of such
<br />rider shall be incorporated If1t0
<br />and shall amend and supple 1tic covenants and agreements of this Deed of crust as it the rider were a part
<br />hereof.
<br />i• proseciton Of Leader's SMItity. If Borrower fails to perform file tot cnants and agreements ill this of Trust, or rf any
<br />as"i' t ttr Proceeding is commenced which materially affects t ender's interest
<br />in the Pro including, but ed t
<br />nsoivency, code enforcement. or arran nts or Proceedings involving [y• Including, but not limited to, i nitaent domain.
<br />p 8 ng a bankrupt or i, then LesuSet at 1_Cnder'a uptaon,
<br />fo rowCr, may make
<br />such s upon notice
<br />appearances. disburse such slims and take such action as Is nes esssry In Protect I..ender's InlerE" I. including, but
<br />riot limited to, disbursement Of reasonable sttorrey's fees and entry upon the Property
<br />to make rCpaars. it I. ender tequired flit), tgage Insurance
<br />M s c(andition of making the loan secured by this Deed of Trust, Borrower 'hall pay the
<br />Premium requited Io enalntaln suvh insurance in elfco
<br />sepald such time as the requirement for such insurance leffninafel it) accordance with Iltirrawcr'S i.Crider'%
<br />law.
<br />and written a$reeltleril oil' applicable
<br />Borrower shall pay theanxlunl of all "wit insurance premiums fit the
<br />mariner provldeli antler (Taragf spit G hCi Ctrl.
<br />Any tuts disbursed by l.ctidet partnert this paragraph ", will' Intel"' thereon,
<br />'hall become additional indebtedness of Borrower
<br />n
<br />utrnf by this of Taut. L'n!€st Borrower and Lender agree to other terms of paymeal, such amounts shall lie imyahle urron noncr tioln
<br />l in Borrower requesting
<br />payment thereof, and shall bear interest !rota the date of c11sburkenlent at the rate payable front lime to tittle on
<br />fnfastardlisg principal under the Nape unless payment of interest at such
<br />rate would he , oniraly to applicable law, III w111th event 'llth anittllli'
<br />gt$$If Not Interest at the highest rate permiaalble under apPli4'41ble Iaw. Nolhillg contained in 11114 '1
<br />paraglaph
<br />of fake any action herd 'hall fequilt, I £litter to of, fit am
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<br />• I. enda may make Or cause to he made reaffotable eiltlle5 1i(i n and insthry,'riatlx of the l'fopelly. pfovtdPlf alai I P01dCT spiel!
<br />s >aC I'smlower notice prior loony such Inspection specifying
<br />t'eatOl)a file t'alAAe Iflefelot felated to I enders Int£TCSI irl ills IY /i)fee l'ly
<br />�• t foe proceeds any award elan£ flit delta dirr'.1
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<br />or i Illivituciinal. It ttrnrtei•ton w11I1 et11'' t'lldelllltallrrtl Or
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<br />,vaf f fal�irp Of the Pic fy, of fHit IhC7 CO)f, i)f flit clr }lyeyalkt'C ifl Bell +lf l� wdvilil7all"ll, ills hvtrt,l
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<br />assigned and Shall be pald tar I ctdef
<br />the event of a total faking lit fill' PrttpClty, the fit tee'Ctrl''bali Pte a , ,hell t„
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<br />l 3o-'P•r 1$gypnyweq 17lfive ebefit ? rf a patual takttift of file Protterly. imfccv f }„ Ion ,ber,AIR] leuder "ther.I'V'Iltce
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<br />spur; %e+. YY rgel trq Om i"I elf I7nai'uth ptnfieafarn ,•r Ihr
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