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<br />7
<br />gSomon 002008
<br />If Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of which are
<br />insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply
<br />the Funds to pay said taxes, assessments, insurance
<br />premiums and ground rents. Lender may not charge for so holding
<br />and applying the Funds, analyzing said account or verifying and compiling
<br />said assessments and bills, unless Lender
<br />pays Borrower interest on the Funds and applicable law permits Lender to make
<br />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
<br />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
<br />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
<br />additional security for the sums secured by this Deed of Trust.
<br />If the amount of the Funds held by Lender,
<br />together with 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
<br />taxes,
<br />to pay said
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option,
<br />either promptly repaid to Borrower
<br />or credited to Borrower on monthly installments of Funds. If the amount of the
<br />Funds held by lender shall not be
<br />sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall
<br />due, Borrower shall pay to Lender any
<br />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
<br />sold or the Property is otherwise acquired by
<br />Lender. Lender sha.l apply, no later than immediately prior to the sale of the Property
<br />or its acquisition by Lender, any
<br />Fonds field by Lender at the time of application as a credit against the slims secured by this Deed of Trust.
<br />3. Application of Payments.
<br />Unless applicable law provides otherwise, all payments received by Lender under
<br />the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in
<br />payment of amounts payable to Lender by
<br />Borrower under paragraph 2 hereof, then to interest payable on the Note,
<br />and then to the principal of the Note.
<br />4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall Borrower's
<br />perform all of obligations
<br />under any mortgage, deed of trust or other security agreement with ;1 lien which has priority over this Deed of "Trust,
<br />including Borrower's covenants
<br />to make payments when due. Borrower shall pay or cause to be paid ail taxes.
<br />assessments and other charges, tines and impositions attributable to the Property
<br />which may attain it priority over this
<br />Deed of Trust, and leasehold payments or ground rents, if any.
<br />5. Hazard Insurance. Borrower shall keep the improvements
<br />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 tender
<br />may require and in such amounts
<br />and fot• such periods as lender may require.
<br />The insurance carrier providing the insurance
<br />shall be chosen by Borrower subject to approval by Lender; pro. ided.
<br />that such approval shall not be unreasonably withheld. All insurance policies ant; renewals
<br />thereof shall be in a forin
<br />acceptable to lender and shall include a standard mortgage clause in favor of and in a ti►rtn acceptable to I_tnder.
<br />[..ender shall have the right to hold
<br />the policies and renewals thereof, subject to the terms utany nu,rti ai;c, decd c,f trust
<br />or other security agreement with it lien which has priority over this Deed 'Trust.
<br />of
<br />In the event of lose, Borrower Shall give prompt notice to tile• insurance carrier and Lender. Lender ritay make proof
<br />ofloss it not made promptly' by Borrower.
<br />It the Property is :abandoned by Bono\ \ec. ur if Borrower flails to respond ro Lender within 30 daws front the date
<br />notice is mailed by lender to Borrower that the insurance
<br />carrier 11"s to, settle a clairn h,r insuranin cC11011N, (_ender is
<br />authorized to coflect and apply the insurance pro cods at [_ender's
<br />I,ption either to restoration or re
<br />Property or to the sums secured by this Decd of "'rust. pair of the
<br />6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Bor
<br />rower shall keep the Property in g;ooxl repair and shall not commit waste or permit inapair'nlcrlt
<br />Property deterioration
<br />or of, the
<br />and shall comply with the provisions of ally Iease if� this Deed (it Trust is on if leasehold. It this Deed of Trust is
<br />on a unit in a condominium or a planned unit development. Borrower
<br />shall perform all of Borro,wer's obligations under
<br />the declaration or covenants creating; of ,a;ovcrning; tilt CondI,1111111t8IT1 Ili' planned deyl'le►ptTll'Irt,
<br />Ut11I till' by laws and
<br />regulations otthc condominium or planned unit dcycloprlle•nt. ;and cicnstihler,t dortntlents.
<br />7. Protection of Lender's Security.
<br />if Borrower !cols to perform the cowcn,ults and agreements contained in this
<br />ifi
<br />Deed of Trust, or if any action or proceeding; is comrl em cd "high Ina tile "a I
<br />attests l.cndcr's interest in the Pron ,
<br />then Lender, at Lender's option, upon notice to Borrower. ►nay make such appearances. ciishursc such i, ums. including
<br />reasonable attorneys' fees. and take inclu
<br />such action as is nceess;ar\ to protect l.cnder s interest• If lender reytlired age
<br />insurance its a condition of making the loan secured b\ tilts lhcli of I rilst, Borrower shall
<br />maintain
<br />pay the prerniunls rcquired to
<br />such insurance In effect until such little ,Is I' lie r"ViiP'erllc'lll tOr `+t1C11 insurance tet'1i11Il atc% in accordalice
<br />Borrower's and Lender's
<br />written agreement or applicable lire. wllll
<br />Any amounts disbursed by Lender
<br />pursuant Ie, till. p,ar :agr,al,h °. .Aith ultcrest tlkrrelln, at the Note talc, shall
<br />btcome additional indebtedness of Borrower secured by ibis Iced lr'tlst.
<br />I7t t_'nlcss borrower .Inlf 1_.cndcr ag;rcc too
<br />other trans of payment, such aniounts shall be
<br />p;n;ablc upon rllEtiie tram Lcndcr IE+ ilorrelwcr rrolucstiny p;aymrnt
<br />thereof'. Nothing contained in this paragraph 7 %hail rc°quirc Lc'nde °r to nlrur
<br />or take ;uly ;iction hercundct.
<br />n. Inspection. Lender Ina y make or cause ill he• rn :►de, rcason;alhie
<br />entries upon and o
<br />inspectins of the iroperty.
<br />provide:(] that Lender shall give fiori'owcr n[,tii :c prlelr 111 ;111% ,ukh €111pc'irS +Itl \pe'ctf\'IP1e tc';ISl,rlahie call \e Phc're'ttl!'
<br />tel:ated to Lender's interest In the Property
<br />9. Condemnation. the prc,c'e'eds of any award tlr i {split to ►' datii;l4�eti,
<br />lalrec:t o►' c•t,nsel(uvimal, it) il/►ttlec'lltltl N €IiI
<br />any condrtnnatiem or other tacking; of the I'rollc•rt - v or earl lhcrcot, E,r fall' om%cy;anc'e in lieu of condenmalioll. ,Ire
<br />hereby assigned and "hail be paid to [,ender, suhiec•t to the terms
<br />Ill 11111 fill,l'1 ; r
<br />ment with a lien which has priority liver 1111% i)ecd of i rtl•,f. � ap t , de'ed 111 IYn\► c,I' I1tliet Ot'('11r111 ,af rt'I
<br />Ili• Hotrarrer Not (Released; Forbearance
<br />By Lender Not Wyrr. I�xtcnsinn E +I the inns for p;llniint
<br />modification (of 0111 /rtllatl(,rl 411 llle! %ur114 `.CC'll1'ed b \' hiss I.1ec:d t,f I re,'el a; t'an ►t'd b\ I.l'lldl.'1'
<br />B+rrri,mer
<br />lt+,!111 ', 114'E =•ti�l,i Ili IIIi<'P c'�t Iii
<br />shall nartt, opur<ate• lu release, lit ,Iiiv nwnner. tile' li;linhh ut lh(' + >ril.,ein,ll fiorro►ol r ,InEf ltolslncir's .uei('..l +r uI
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