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85- 00.1034
<br />if Borrower pays Funds to Lender, the Funds shall he held in an institution the deposits or accounts of which are
<br />insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply
<br />the Funds to pay said taxes, assessments, insurance premiums and ground rents. Lender may not charge for so holding
<br />and applying the Funds, analyzing said account or verifying and compiling said assessments and bills, unless Lender
<br />pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender
<br />may agree in writing at the time of execution of this Deed of Trust that interest on the Funds shall be paid to Borrower•
<br />and unless such agreement is made or applicable law requires such interest to be paid. Lender shall not be required
<br />to pay Borrower any interest or earnings on the Funds. Lender shall 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 debit to the Funds was
<br />made. The Funds are pledged as additional security for the sums secured by this Deed of Trut.
<br />Lf the amount of the Funds held by Lender, together with s
<br />the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said
<br />taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option,
<br />either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. !f' the amount of the
<br />Funds held by [ender shall not be sufficient to pay taxes, assessments. insurance premiums and ground rents as they fall
<br />due. Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as Lender
<br />may require.
<br />Upon payment in full of all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower any
<br />Funds held by Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by
<br />Lender. Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any
<br />Funds held by Lender at the time of application as a credit against the sums secured by this Deed of Trust.
<br />3. Application of Payments. Unless applicable law provides otherwise, ail payments received by Lender under
<br />the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by
<br />Borrower under paragraph 2 hereof, then to interest payable on the Note, and then to the principal of the Note.
<br />4. Prior Mortgages and Deed@ of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations
<br />under any mortgage, deed of trust or other security agreement with a lien which has priority over this Deed of Trust.
<br />including Borrower's covenants to make payments when due. Borrower shall pay or cause to be paid all taxes,
<br />assessments and other charges, fines and impositions attributable to the Property which may attain a p
<br />Deed of Trust, and leasehold payments or ground rents, if any. riority over this
<br />S. Hazard Insarawe. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage ", and such other hazards as Lender
<br />may require and in such amounts and for such periods as Lender may require.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided,
<br />that such approval shall not be unreasonably withheld. All insurance policies and renewals thereof shall be in a form
<br />acceptable to [ender and shall include a standard mortgage clause in favor of and in a form acceptable to Lender.
<br />Lender shall have the right to hold the policies and renewals thereof. subject to the terms of any mortgage, deed of trust
<br />or other security agreement with a lien which has priority over this Deed of Trust.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof
<br />of loss if not made promptly by Borrower.
<br />If the Property is abandoned by Borrower• or if Borrower fails to respond to Lender within 30 days from the date
<br />notice is mailed by Lender to Borrower that the insurance carver offers to settle a claim for insurance benefits. Lender is
<br />authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the
<br />Property or to the sums secured by this Deed of Trust.
<br />b. Praenatiea and Maintenance of Property; Leaseholb; Condominiums; Planned Unit Developments. Bor-
<br />rower shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the
<br />Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. If this Deed of Trust is
<br />on a unit in a condominium or a planned unit development. Borrower shall perform all of Borrower's obligations under
<br />the declaration or covenants creating nr governing the condominium or planned unit development• the by -law, and
<br />regulations of the condominium or planned unit development, and constituent documents.
<br />7• PttotetWu of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this
<br />Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Properiv.
<br />then Linder, at Lender's option, upon notice to Borrower. may make such appearances, disburse such sums, including
<br />reasonable attorneys' fees, and take such action as is necessary to protect Lender's interest. If Lender required mortgage
<br />insurance as a condition of making the loan secured by this Deed of L'rust. Borrower shall pay the premiums required to
<br />maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with
<br />Borrower's and Lender's written agreement or applicable law.
<br />Any amounts disbursed by Lender pursuant to this paragraph with interest thereon, at the Note rate, shall
<br />become additional mdebtt.•dness of Borrower secured by this Deed of Trust. Unless Borrower and lender agree to
<br />other terms payment, such amounts shall b
<br />thereof. Nothing contained in tilts payable upon notice from Lender to Borrower requesting p vment
<br />is paragraph 'shall require lender to incur any expense or take any action hereunder.
<br />8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property,
<br />provided that Lender shall give Borrower notice pnor to any such inspection specifying reasonable cause therelor
<br />related to Lender's interest in the Propert.v.
<br />9. Cot@demnaill". The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condemnation or other raking of the Property, or part thereof, or for conveyance in lieu of condentllatrun. are
<br />hereby assigned and shall be Paid to Iender, subject to the terms of any mortgage, deed of trust or other security oil. ar.
<br />Meng with a lien which has priority over this Deed of'I-rust.
<br />lil. Borrower Nei Released; Forbearance By Lender Not a Waiver. FRrcnsron „t the lime lur payment nr
<br />mrxfificatinn of amortization of the sums secured by this )red tit Trust krurted by Lender to an> successor in inrert•sr nt
<br />Hnr•rowet shall not operate to uAcase, in any manner, the liability of the original Borrower soil Borrower s successui� ,n
<br />L interest. Lender shall riot he required to comtnenc'e prmeedings dg:unst such successor or raluse n, esuvrd nine fur r,ty
<br />meat or otherwise rnalify arnortriation ut the sun's secured hs this fhvxf of 7 not h
<br />r7r1{ltnal Borrower and litrrnrwcr' s ,ue'ccti�,un in intrrryt. :1ne Inrhrarant'e t„ f cn,lv"r eiu,r'sr rri�r1% it M na'hm n, rr s rh
<br />hereunder, or o1hrrsvi x affirrtlefl hV alrpbcable law, shall not I-., wdnrr nr n lode ihr r ter, ik' , t an. hf ,, r it hi , r
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