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<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 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,
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<br />assessments, insurance premiums and ground rents, shall exceed the amount required to pay sajd taxes, assessments, insurance premium and
<br />ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />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 18 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 stuns
<br />secured by this Deed of Trust.
<br />a, 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, then interest
<br />and to and principal on any Future Advances.
<br />� g. C berso; Lkes. 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 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
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<br />furnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Dad of Trust;
<br />provided, that Borrower shall not he 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
<br />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
<br />or any pan thereof.
<br />S. Hassid insaranee. 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
<br />shall not require that the amount ol'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 got he 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
<br />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 Corm
<br />era acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, and Borrower shall promptly furnish to
<br />i_cncfer all renewal notices and all receipts of In
<br />paid premiums. the event of loss, Borrower shall give prompt notice to the insurance carrier and
<br />I ender Lender may make proof of loss If not made promptly by Borrower,
<br />tnless 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 is
<br />repair economically feasible and the security of this Dad of Trust is not thereby impaired. If such
<br />restoration or repair is not economically feasible if
<br />or the security of this Deed of Trust would be impaired, the insurance proceeds shall be
<br />applied ice the sums secured by this Deed of Trust, with the
<br />excess, if any, paid to Borrower. if the Property is abandoned by Borrower, or if
<br />Borrower fails to respond to !.ender within 30 days from the date is
<br />notice 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
<br />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 />L nierss Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due
<br />date elf the monthly installments
<br />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 interest
<br />and of Borrower in and to any insurance policies and in and to the prtxetds
<br />thereof resulting from damage to the Property prior to the sale or acquisition shall to !_ender
<br />pass to the extent of the sums secured by this Decd
<br />of °Trust immediately prior to such sale or acquisition.
<br />b. Prenmitti" sad Mala #06aace of Property; [.eawho{ds; Condominiums; Punned Unit Developments.
<br />Property in good re Borrower shah keep the
<br />fc g pair and shall not commit waste or impairment
<br />permit or deterioration of the Property and shall comply with the provisions
<br />Of any 1 if this Deed of Trust is on a leasehold. If this Deed of Trust is on a unit in a condominium or a development,
<br />planned unit Borrower
<br />shall perform all of Borrower's obligations under the declaration or covenants creating or governing the condominium or
<br />development,
<br />planned unit
<br />the by -laws and regulations of the condominium or planned unit development, and constituent documents. If a condominium (I
<br />planned unit development rider is it
<br />executed by Borrower and recorded together with this Decd of Trust, the covenants and agreements of such
<br />riders 1 he incorporated into and shall amend and supplement the covenants acid agreements
<br />hereof. of this need of (rust as if' the rider were a part
<br />7. Protection of [.eader'a Security. if Borrower fails to perform Itic covenants and agreements contained in this 8)ced of I rust, Or if anv
<br />»®trurl ter proceeding is commenced which materially affects Lender's interest in the Property,
<br />including, but not limited to, eminent domain,
<br />insolvency, code enforcement, or arrangements or proceedings involving a bankrupt or decedent, then Leader at 1.
<br />coder's option, upon notice
<br />to 40tr0wer, may make such appearances, disburse such sums and take such action as is necessary to protect Lenders interest, includinas, but
<br />VA limited to, disbursement of reasonable attorney's fees and entry upon the Property to
<br />make repairs, if !..ender required mortgage insurance
<br />Ws a condition of making the loan secured by this Deed elf Trust, Iionower shall pay the
<br />premiums required to maintain such insurance in effect
<br />,anal suet, time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement Or applicable
<br />law %mower shall pay the amount of all mortgage insurance
<br />premiums in the manner provided under paragraph 2 hercol ,
<br />Any amounts disbursed by Lender pursuant to this
<br />paragraph 7, with interest thereon, shall heconle additional indebtedness of Borrower
<br />urcd by this irked of Trust. Unless Borrower and Lender agree to Other tern's of payment,
<br />such amounts .shall be payable upon notice from
<br />I.Mier to tkArrowcr tequesting payment thereof. and shall bear inletest ftoni the slate cif disbursement at the rate Iroul
<br />payable (lute rte (title on
<br />rvtAtstarldla'g Principal under the Note unless payment c,)f interest at %tick tale would be contrary Ice applicable law. In wllicll event such dillolunts
<br />shawl hear interest at the hilt rate
<br />permissible under applicable law. Nothing contained in this paragraph " shall 1equirt, I_etldet to irl,'ur alts
<br />C. -Ar illte or take any action hereunder.
<br />1 tifia. Lender may snake Or aause tit he rriadir rra°solrable oloic" lilloll mid 111sliciliolls Ill the 11fopetiy, pro,iWird ilia: I clicl i 01411
<br />K?VC llt,m'lwer mice ptrtlr to any such
<br />Inspoaluri spcc,ifyrrlg reasont'bic t:4tv'a theretol related it) I coder 4 lnleic,l m the 1' &olxtry.
<br />9, t fiadvarluatiaa the p1 ceds if arty award ill clmrn for Jaanlagv', 111i;%[
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