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�, 85-.• 002284
<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 Dad 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 fail due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly
<br />insallments of Fund s. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and
<br />ground rants as they fail dux. Borrower shd 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 stuns 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 Dad of Trust.
<br />3. AgpMenden of Payments. Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs 1
<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, and then to interest and principal on any Future Advances,
<br />4. Charges; Kleine. 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 pan thereof.
<br />S. 11 - 'Insurance. 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 :rod 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 Dad 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. ALI 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 />l..endcr. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Leader and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property
<br />provided such restoration or repair is economically feasible and the security of this Deed of Trust is not thereby impaired. If such
<br />restoration or repair is rot economically feasible or if the security of this Dad 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 fads to respond to Leander within .10 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 appiv the insurance proceeds at Lender's option either to restoration or
<br />repair of the Property of to the suns sowed by this Deed of Trust.
<br />Una Leader and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due
<br />date of the monthly ' installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments. if under paragraph 18
<br />thereof the Property is acquired by Leader. all tight, title and interest of Borrower in and to any insurance policies and in and to the proceeds
<br />thereof retuditift from damage to the Property prior to the salt or acquisition shall puss to Larder to the extent of the sums secured by this Deed
<br />of Try usuratifiestely prior to such safe or acquisition.
<br />b. Films end 111a1 s1 of PnpAy; Lweael Wh; C ; Planned Udt Develepnesm. Borrower shall keep the
<br />Property in good repair and shall rat commit waste or permit impairment or deterioration of the Property and stall comply with the provisions
<br />of any Wan if the Dad of Trust is on a Waseboill. If this Dad of Trust is on a unit in a condominium or a planned will development, Borrower
<br />sW perform all of Borrower's otifigatitoess under the declaration or covenants creating or governing the condominium or planned unit
<br />the by -laws and regulations of the condomusium or planned unit development, and constituent documents, If a condominium or
<br />plaimed trait development. rder is executed by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such
<br />shall rider be incorporated into and shall ansend and supplement the covenants and agreements of this [lad of Trust as if the rider were a part
<br />7. Pn K UM of L sidWs 9anrlty. If Borrower fails to perform the covenants and agreements contained in this feed of Trust, or if any
<br />acts or procadiftg is commencsid which materially affeco Lender's interest in the Property, including, but not limited to, eminent domain,
<br />Ossolvency. code anformismilit. or arrisagetwents or proceedings involving a bankrupt or decedent, then (..ender at l..endet's option, upon notice
<br />to Borrower, may make DUO appmances. disburse such suns and take such action as is necessary to protect Lender's interest, including, but
<br />lent limited to, disbientimem of reasonable atmory's fees ancl entry upon the Property to make repairs. If lender required mortgage insurance
<br />as a conditicia of maleimg the loom secured by this Dosed of Trust, Borrower shall pay the premiums required to maintain such insurance in effect
<br />MW such time as the requisremem for rich insurance terminates in accwdatce with Borower's and Lender's written agreement or applicable
<br />Lear. Borrower shall pay the amount of an mortgage insurance premiums in the manner provided u ides paragraph 2 hereof.
<br />Any amounts dWbwmd by Leader pursuant to this paragraph 7, with interest thevntm, "I become addlitucaj indebtedness of Borrower
<br />secured by this Deed of Try. Unless Boer~ and Lender agree to other terms of payment, such amounts shall be
<br />playable upxrat notice from
<br />Leader ter Berrowa MOMOM payment thereof, and OWU helm interest from the date of disbursement at the rate payable from time to rims on
<br />fader the Now unless payment of interest at such rate would he cemtrary to applicable law, in which event such amounts
<br />at the hilghmil We permissible under applicable haw. Nothing tomained in this paragraph 7 shall require L rtmler to Incur anv yy
<br />or take suI setion heirtmader, �S
<br />S t
<br />femrgseNsle. -may male of cadsse lobe maAe r entturs upon arnl inspevtatrs+ of the Property, pwovtdtXf that i.rtnttrr efts!!
<br />pair 0wrtswer noires prior to terry such Inspection specifying ress+mable cause therefor related uo Lender's interest in the Ptoprity
<br />N. lasMneay The protest of any award or claim for ttanuages, direct or cawtuetuentcal, in tonne imn with any ,ondemnati n rtes r�
<br />I
<br />-livir IMAM of the Property, or pat [bum. or for conveyaee In lieu of t<sts <Latrtnatscm. are heJcbV assagtucd and shall be paid mo I endcr.
<br />In the event atf 21044 tarki4 of the I loperly, the proceeds shall be applied it, the •.urns seq. tired by this O ed t.f I'IUSI, wish the exres,,, it ins.
<br />smW141PAstschm In tide (A a p pubs! taktng of the Prottterty, unleee Iturr"wri And I ender mhevmlw italre art wecili:r. ±here ,hall ter 4114'aavt
<br /><, tea ,Inv® �eeered by thla 1 of total vwn h lmotxn,tun of the ln,.xeecl!+ v'.:, cfpwi to chat i,r,epwlmoo won, h thr ennaiui .�! Il)r +lute, w'utr.t
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