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85'-- 001923
<br />apph,cabjelaty 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 Coill1orrower, 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 />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 IS 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 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• Cl arses; Lim. Borrower shall pay all taxes, assessments and other charges, fines and impositions
<br />may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any, in the mnner 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. Haab 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 ;u 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 I. ender 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 />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 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 18
<br />hereof the Properly 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 immediately prior to such We or acquisition.
<br />6. Presmadan and MWUaance of Property; Lewholds; Condominiums; Planned Unit Ikrelopmeots, 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 Daed of Trust is on it 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 -laws 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 Deed of Trust, the covenants and agreements of such
<br />rider shall be Incorporated into and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider were a part
<br />hcreof-
<br />?. Protection of tender's Security. If Borrower fails to petrfornr the covenants and agreements contained In this Iced of Trust, or if any
<br />a 11on or isrckeeding is commenced which materially affects Lender's Interest In the Property, including, hilt not limited to, eminent domain,
<br />IM101vency, code enforcement, or arrangements or proceedings involving a bankrupt or decedent, then Lender at Lender's option, upon notice
<br />;o Borrower, may make such appearances, disburse such sums and take such action as is necessary to protect Lender's interest, including, but
<br />MA punted to, disbursement of reasonable attorney's fees and entry upon the Property to make repairs. If Lender required resttgage insurance
<br />as a,ondrtior, of making the loan secured by this Deed of Trust, borrower shall pay the premiums airs. If to maintain such insurance is effect
<br />ur:u! such cline as the requirement for such insurance terminates in accordance with Borrower's and Lender's written such insurance
<br />or applicable
<br />law. 111011 owcr shall pay the amount of all mortgage insurance prenuurn% ill the manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with Interest Ilie( in, shall become additional indcMrdncss of Borrower
<br />scs urcd by thts Deed of Trust. Unless Borrower and Lender agree it, other terms of payment, such amounts shall he payable upon notice from
<br />Lend" to Borrower requesting payment thereof, and shall hear interest Iron, the dare of disbursement at the rate payable payable
<br />acne of tonic on
<br />t
<br />outstanding principal under the Note unless payment of interest at suih rate would he contrary
<br />'hall beat interest at the highest rate permissible under applicable far to Applicable "A", 113 Nhich event such amounts
<br />. ,ti ,ilea,
<br />expense or take any action hereunder, rt sontanacd ui thus paragraph 7 shall require 1 ender to Incul lay
<br />g• i lloa. Lender may snake or cause hr be made reasonable eutnes upon dnJ ills; e,nnns "I the !'rote errs, pros eded Ihat I ender shall
<br />rotve Borrower nonce prior toariy,4llch In9pcCoon specifying r'easoriable tJuw Iheletof Ieiated ern t_ender',Interest III the Properly
<br />q. f'oadrmaatloa. the proceeds of any award or clam, for ..la mart_ .lncsl r a.,cyucnt,al, u'. ,,,I;ue. to nl wuh :vo snndcrun,u tool I
<br />.+Ihrr Iakind of the Properly, or part thereof, or for a nveyancc u, Ilcu <4 r I„ the clent u1 a oral inking of the l'ioperfy, the pr I I InII r h_r_1 , assletnr,l ,a'„f h:all hr;,.ini I I •ndct
<br />ern Beds hall he Ise ; I c h ,I n
<br />sot par Ifom—cf litlhc eicnt of a pa.ftial taking of (tie pin urul he 'm, 1� c.i I I, , w I!I Ili rt,C,,, Ii arts.
<br />h holy antes. 11 nw,, • I I ttulet were, a -, Ilir"
<br />ytbr: fk^cnf of Ire
<br />IV xue'h pruta,ru,m nl the pn,u•ut I.. ,1 . ,1 he :q,phe,t
<br />71
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