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t� %+;.03
<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 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 balls, 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 Trust.
<br />If the amount of the Funds held by Lender, 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 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. If the amount of the
<br />Funds held by Lender 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 slims 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, all payments received by Lender under
<br />the Note and paragraphs I 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 />'f' !Piker Mortgages and Dee& of Trust; Charges; Lkm. 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 priority over this
<br />Deed of Trust, and leasehold payments or ground rents, if any.
<br />S. Hazard bmuraum. 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 polices and renewals thereof shall be in a forme
<br />acceptable to Lender 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 carrier 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 stems secured by this Deed of Trust.
<br />6• atioer and Maintenance, of
<br />rower shall erV the Pro arty; holds; Condominiums; Planned
<br />P party in good repair and shall not commit waste or permit impairment or deteriorations of he
<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 lender
<br />the declaration or covenants creating or governing the condominium or planned unit development. the by -laws acrd
<br />regulations of the condominium or planned unit development, and constituent documents,
<br />Deed 7, Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this
<br />of Trust, or if any action or proceeding is commenced which materially att�cts Lender's interest in rile Proper-t`,
<br />then Lender, at Lender's option, upon notice to Borrower, may make such appearances, disburse such sums. includes
<br />reasonable attorneys' fees, and take such action as is necessary to protect Lender's interest. !f Lender required h s including
<br />age
<br />insurance as a condition of making the loan secured by this Deed of Trust. Borrower shall pay the prcttr'ums required t
<br />maintain such insurance in effect until such time as the requirement for such insurance terminates in accor (lance watt,
<br />Borrower's and Lender's written agreement or applicable law.
<br />Any amounts disbursed by I -vnder pursuant to this paragraph ". with interest thereon, at the Note rate. shall
<br />become additional indebtedness of Borrower secured by this Deed of Trust.
<br />other terms of- payment, such amounts shall he payable ulxira notice fr�, iri[ t: ndcrstolBorrow�e :r�are�questting 1) I incnt
<br />thereof. Nothing contained in this paragraph ? shall require Lender to incur airy e°xpertse or take any action hereunder.
<br />g' tom. Lender may make or cause to be made reasonable entries upon and insl.cttoris of nc� F'ruperty.
<br />i�rovided that [tender shalt give I3orrcpwcr notice prior to ;ins such inslx,c lion specifying reasonable cause therefor
<br />related to Lender's interest in the Property.
<br />9. Condemelatkaril. 'I"he; prcx:eeds of any -award or claim for
<br />any condemnation air other taking of the Property, or part thereof. tia or t for! c ,n% atlaccsirf l iPltttot c'onclentncrtt n e +late
<br />hereby assigned and shall be laic! to Lender, sub cct to the terms of Piny mortgage, atn rr, arc
<br />mast with a lien which has priority over this [)Cc(, of !'rust,
<br />g' ge decd of trust or other %(cunt% agree
<br />10• r Not Bed ed; Forbearance By Lender Not a Waiver. f.xtcnston lit the tittle tor paNnrc•nt !,r
<br />modification ofamortization of the sums wCured by this Deed of f rust gr.atrtcel t,� I.rndcr r„ ,lnv tinccassur rn Intrrest +•t
<br />Borrower shall not operate to release, in ana manner, the IiahiJity of the orrb9in.al lil,rsowcr .uatt 111 >rruaacr qua IIIer r( to
<br />Interest. Lender shalt nr_it be rcyrsircc' to cornruetkV prmc:cclings against such %ucccssur or relust• to (%renal rtrtlr I"r ,.lti
<br />mast or otherwise rrrcxlif.y anil.,rtir,ation of the %tang secured by t €its Dvc•d of I mist hs rtasun
<br />hereunder, 13c,rrtawrr ariC1 liorr4/we is !leaf v %4,r4: Idi Intc'rr ° %t. And fl,l'bt :ir:a nt'(' 1,6 l ln,lt'r In
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