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<br />®02396
<br />applicable law requirt!s§upel{ interest to be paid, Lender shall not be required to pay Borrower any interest or earnings
<br />give to without
<br />.Borrower, on the Funds. Lender shall
<br />charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />debit to the Funds was made. The Funds
<br />purpose for which each
<br />are pledged as 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 10 the due dates of taxes,
<br />assessments, insurance premiums and ground rents, shall exceed the
<br />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,
<br />either promptly repaid to Borrower or credited to Borrower on monthly
<br />installments of Funds. if the amount of the Fonds held by Lender shall not be sufficient
<br />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
<br />is mailed by Lender to Borrower
<br />requesting payment thereof. from the date notice
<br />Upon Payment in full of all sums
<br />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
<br />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
<br />secured by this Deed of Trust. at the time of application as a credit against the sums
<br />3. Applileatim 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
<br />payable to Lender by Borrower under paragraph 2 hereof, then to interest
<br />g payable on the Note, then to the principal of the Note, and then to interest
<br />and principal on any Future Advances,
<br />4. Charges; Liens, Borrower shall pay all taxes, assessments and
<br />other charges, fines and impositions
<br />may attain a priority over this Deed of Trust, and leasehold payments
<br />attributable to the Property which
<br />or ground rents, if an
<br />or, if not paid in such manner, by Borrower make Y. in the manner provided under paragraph 2 hereof
<br />making payment, when due, directly to the payee thereof. Borrower
<br />Lender all notices of amounts due
<br />shall promptly furnish to
<br />under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly
<br />furnish 10 lender receipts evidencing such payments. Borrower
<br />shall promptly discharge any lien which has priority over this Deed of Trust;
<br />provided, that Borrower shall not he required to discharge
<br />any such lien so long as Borrower .shall agree in writing to the payment
<br />obligation secured by such lien in a manner acceptable to Lender, or shall in of the
<br />good faith contest such lien by, or defend enforcement of such lien
<br />in, legal proceedings which operate to prevent t he enforccmen( of the lien or forfeiture
<br />of the Property or any part thereof.
<br />4- Hazard Inattrance. Borrower shall keep the improvements now
<br />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
<br />may require and in such amounts and for such periods
<br />i s Lender may require; provided, that Lender shall riot require that She amount (it such coverage exceed that amount
<br />tht sums secured by this Deed
<br />of Trust. of coverage required to pay
<br />The insurance carrier providing the Insurance shall be chosen by Borrower subject R) approval by Lender; Provided, that such approval
<br />shall ant be unreasonably withheld. All Premiums
<br />on insurance Policies shall he paid in the manner provided under paragraph 2 hereof or, if not
<br />Paid in such manner, by Borrower making payment, when due, directly
<br />to the Insurance carrier.
<br />All insurance policies and renewals thereof shall be to form acceptable to lender and shall include a
<br />and In form acceptable
<br />standard mortgage clause in favor of
<br />to Lender. fender shall have the right to hold the Policies and renewals thereof, and Borrower
<br />Lender all renewal notices and
<br />shall promptly furnish to
<br />all receipts of Paid premiums. In the event tit loss, Borrower shall give prompt notice to the insurance carrier and
<br />Lender. €.ender may make Proof of loss If not made promptly by Borrower
<br />Unless Lender and Borrower otherwise agree In writing, Insurance proceeds shall he applied to restoration
<br />damaged. Provided such restoration
<br />or repair of the Property
<br />or repair is economically feasible and the security of this Deed of Trust Is not thereby ilnparred. If such
<br />restoration or repair is not economically feasible or if the security of this Iced
<br />to the stuns secured
<br />of Trust would he Impaired, the insurance Proceeds shall be
<br />this Deed of Trust, with the excess, It
<br />Borrow any, paid to Borrower. If the Property Is abandoned by Borrower, or if
<br />L
<br />Borrower (aids to respond to !ender within t0 (lays from the elate notice Is mailed by Lender
<br />to Borrower that the insurance carrier offers to
<br />seltic a claim for insurance benefits, Lender is authorized to collect and appiy the insurance
<br />proceeds at Lender's option either to restoration or
<br />repair of the Property or to the sums secured by this Iiie d of Trust.
<br />Unless . Lender and Borrower otherwise agree In writing, any such applica%on 0f proceeds to principal shall not extend or postpone the due
<br />date of the monthly installments referred to in 1DaragraPhs I
<br />and : hereof ()r change the amount of such installments . if tinder Paragraph IN
<br />hereof the Property is acquired by Lender, all right, title and interest
<br />of Borrower m and So any insurance Policies and 1% and ¢o the proceeds
<br />thereof resulting from to the Property price l0 the sale or
<br />acqulsinon shall Pass to Lender to the extent of the sums secured by this Decd
<br />'If r St 7 imely prior to such Sale or Acquisition.
<br />4. Preservadon all+
<br />, of y; l ; Condomlakid ; Planned Unit 1)ey
<br />Property in good repair and shall not commit waste air remit impairment isi Bnrrowcr shall keep the
<br />deterioration
<br />of any if this Dead of 'trust is on a iMSthold. it !his Decd ;q I ruslerton
<br />a Cull Ili at
<br />a planASied unit devel(wipment,pBorrower s 1 rxnt, all Y- Borrower's obligations tinder the declaration or ,.overratlts
<br />nt, the by-laws and regulations
<br />crealing or governing the condominium or planned unit
<br />of the condouinium of planned unit development,
<br />PlAr and constituent documents. if 4 condominium or
<br />is exeute
<br />r €f ones development rider Is executed by Borrower and rey0rdcd together
<br />with Ihts Deed of Trust, the es.venant1 and agrrrments of such
<br />dsr snail be incorporatsgl into and shall amend and supplenrcna tilt
<br />hcrct)f. cosctlants and Agreentems od this bred of Trust as 11 the rider
<br />were a PArI
<br />? of l4*der'll Stcartly. It BOYrowe(
<br />fails w t1Cti(lrn) Ihe,z, cflalitl anti agdet %}tills i {}fltainrd It1 this l?rtd 1!F fri1S1, iFr If anY
<br />aiftnti of proceeding Is cOmttlenced which materially afletis I.ruder,, iIllcictl
<br />Iii !ne PYVI,rrIV, IrICIUdIn�, hnI reel limited IU, Ci f rient domain,
<br />IP"59411 Mc Y. Codc enforcement, c)r arrangements, ,, proceedings InvOlvin# a I, nis SUID3 <'f dei'Cdenl, Ihfli €.tiller to d
<br />t,I l o"t)wer, that make su,;h appearances.
<br />endled ,,, Icon, npOil Rl/l Ile'
<br />disburse Such sumo and take U, :h J,0011 aS is necessary to Prolet't I ender's Interest, mduding, (rm
<br />nV`x itenitcd to, disbursement of reasonable Attorney's feel and entry np,l u rile i"r,,perty
<br />1(I make repair": i( ►etlfdef 7CtdUPYCd minigagC 1115nfanc:e
<br />rod
<br />," A 1.Ortltl on of making the loan secured by (IM heed (if i ruo, BoYrl?wer 'tall Pay the pi Plliimili rtgUll
<br />enitull
<br />'anttf Yutt¢ time a5 the requlrtmern il(
<br />ed ho inanitall7
<br />}W tl(tilance in rf fe(.t
<br />for such Imurallte terminates m a, :calydaP' with aril l elyd tit w"Indi
<br />yaw. Borrower shall pay the amount of all mortgage ICCIIiCrtl
<br />I *P apphcaltle
<br />insurance prelillull1% Ill (tie manner llio,idmi tinder paragraph i tlert,?
<br />Any amounts disbursal by Lender
<br />lsur.9uailt it) this Paragraph 7, v Ith Inteleit ((ICIrO81, 'shall tsrt Dine additional indebtedness of Borrower
<br />4 .Ut€d by IhA4 f of 7rus1. lift B(Ntower and Lender agree 14, (Ither let
<br />f.a
<br />my I,f
<br />11811
<br />tit Borrow" rcqucatrnt{ pays xnA thtrerol, aAd shall hear payable upon notice
<br />al(
<br />interest tlolu the dale frldlcihw'Ch
<br />at Ilhr �ylpay
<br />time eam lo ?aal.4l nag pre "Pill under €rte Note unless payment
<br />Ati.t ,;,it
<br />'llol best a%taresg at ('1
<br />the hi ghreurate fMr'Yln$.bf {e UtideY apl)1{<ahl
<br />41411 'CA glall ffegrlle I !' rld¢ert1.)
<br />ry IbIngr,'1 Illitlncd tilt I
<br />(ar saki any actr�in hereunder.
<br />I r,'alll'Ia I11V
<br />d
<br />rAwg l$O(PGawtti(pgi any %take nY r; alA 9G III he !dale N6II1$t1dC Pnf /it iltl(In and
<br />� 1
<br />clot l
<br />Ira
<br />i I11%1,cvt ltn s III the Pit 1pvt IY, pf(w ld"I Ihal I erilef Fhall
<br />€ iq:C prt5trf It)any §tit;dl InUIMN.¢I(A71 hpCt'1f Ylna rCa,'Ind the yala.G if ctr"?��d�ier,l lflIe1111Ct'4 Inli'Pe.51 I11 tdlt I'r, 1lq*fll'
<br />, I'he ptcw.rcaE.s cif any award
<br />la darn f <u damage Ire. I ..r once, ue¢lllal,
<br />lakitag,t f If1t Property, ip 1 .n ♦I {Ilier.tlltlt
<br />IYIt[eof
<br />t
<br />ISaYI Ilh ,[ny ii1111 f "I'.inlall, +11 ,'•I
<br />(E I!Yf ln1Wf yaill't In lit q rr 0 lk1 !r(�
<br />it6 (1Ctft y 154 Ire llC. Al1,I ShiAll 1 l (,1,11 r t /`�l,dCl
<br />4bgiit ,t a qr }iaj taking tale III- r, 11 t' l l :µ. eede shall 1 ii �tl
<br />}�
<br />III E 1
<br />s� , rls�ra m C, n Iitc, r ✓till .,t(a
<br />lilt eY lilt I t`t ,11{5 Ili C'lisil i 1- ,1
<br />irwfllal ta�lna r�r the I tt.t N'Irb I'31 t I . FIt•t �(atil
<br />$ a° ;
<br />j,
<br />, In, I„i•,4' .tI Ct
<br />ICJ I t = „Lyl su,4r (•I „1 „I+lun :.I
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