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<br />85.: 042004
<br />applicable law regtr jrqs�tch 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 maw. 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 Leader 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 sums
<br />secured by this Deed of Trust.
<br />3. A'PMeadom of Pa7seats. Unless app wble law provides otherwise, all payments received by Lender under the Note and
<br />paragraphs 1
<br />and 2 hereof shall be applied by Lender first in
<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 and principal on any Future Advances.
<br />4. Cbugsa; LJM. 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
<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. Hanid l sraraaee. 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 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 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 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 o repair is trot economically feasible or if the security of this Deed of Trust would be impaired, the insurance proceeds shall be
<br />applied to the suns 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 Leader 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 shatl not extend or postpone the due
<br />date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of such installments. If under
<br />hereof the Property is paragraph ! 8
<br />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 sale or acquisition.
<br />6' preservisdiiiia Slild Abimbumm of may; teasebollh; Condomialuaw; Ploaaed Unit Devebpneale. Borrower shall keep the
<br />Property in good repair and shall no commit waste of permit impairment or deterioration of the Property and shall comply with the provisions
<br />of any kaw if this Deed of Trust is on a feiiisellicild. If this Deed of Trust is on a unit in a condominium or a planned unit development. Borrower
<br />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 />rider unit development rider is executed by Borrower and recorded together with this Deed of 'Trust, the covenants and agreements of such
<br />shadl 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 />hereof.
<br />7' Preseellin of ms's Secieft. If Borrower fails to perform the covenants and agreements contained in this Deed of 'Trust, or if any
<br />action or proceeding is commenced which materially affects Lender's interest in the Pro
<br />i vercv, code enforcement, o err party, including, but not {invited to, eminent domain,
<br />arrangements or proceedings involving a bankrupt or decent, then Lender at Lender's option, upon notice
<br />to Borrower, tiny make such appeararlic". disburse such sums and take such action as is necessary to protect Lender's interest, including, but
<br />not limited to, disbursement of reasonable attorney's fees and entry upon the Property to make repairs. If fender required mortgage insurance
<br />as a condition of making the loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain such insurance in effect
<br />until such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agrecmcnt or applicable
<br />law. Borrower shall pay the amount of all mortgage insurance premiums in the manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional indebtedness of Boorrower
<br />secured by this Detect of Trust. Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable u
<br />Lender to rower t des porn notice from
<br />c9 � payment thereof. and shall bear interest from the date of disbursement at the rate payable fr im time to time on
<br />tst Pal user the Note unless payment of interest at such rate would be contrary to applicable law, in which event such amounts
<br />i bear interest at tie highest rate permissible under applicable taw. Nothing contained in this paragraph 7 shall require I endet lc' incur any
<br />expense or take any action herein.
<br />tv C 1 . Lehr may make or cause to be made reasonable entries upon and inspections of the I'roprrty, riovidecd that I cadet shall
<br />4e lhxrc v prior to tiny such inspection spfocifyfng reasonable cause therefor related to Lender's ht (crest in the I'tolrrr�
<br />g' ( ° 'M Proceeds of arty award or clairil for damages, dir"i or vorileuuentiaf, In Collllectiren Willi ilriy �t ?rieleBWYil�lle,rl err
<br />tvtfiey taking of the Prr try , Pant ther0f.af, or fort .,vnVcyar,Fe ill lieu vf,.nrtelevt?ra�tirl". ate hereby a?siFnea.l anti .hall he
<br />In =he gent cif a total taking of the Property, the pros cds shall he eipphed to the �€anls sectilecd by this f )fed l i nisi, �+ftt, the a sdr �s, it and,
<br />z rf� rr9wer In the event or* partial Lakin ref' the Pre, , ��;
<br />gfrry, nl,le °ss F#aruet�° r attic, I ender oale,ai�r altrrc ,,a A llliy t,e 4, -hail ire,^ alatyhed
<br />g =' ' >�� �6i� c cored by this I'lecel oaf °trust scat:h pre7lxrrtirkt, tiff tree rraK <�c•,
<br />t � Ill tilat 1,llo o ltm tbta,ch 01 - -ilu li w ,,,r 01C m" mod
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