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<br />applicable l+! require such interest to be d, 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
<br />debit
<br />credits and debits to the Funds and the purpose for which each
<br />to the Funds was 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,
<br />together with the future monthly installments of Funds payable prior to the due dates of taxes,
<br />assessments, insurance premiums and ground rents, shad exceed the amount required
<br />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
<br />installments of Funds. If the
<br />or credited to Borrower on monthly
<br />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 Lender any amount
<br />necessary to make up the deficiency within 30 days from the date notice
<br />is mailed by Lender to Borrower requesting Payment thereof.
<br />en
<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
<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 Lendgainst
<br />secured by this Deed Lender at the time
<br />of Trust. of application as a credit a the sums
<br />3. Applitall" of paymuls 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
<br />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
<br />and principal on any Future Advances.
<br />1• Crarges; Ilex. Borrower shall pay all taxes,
<br />m
<br />may attain a priority over this Deed of Trust, and leasehold assessments and other charges, fines and impositions attributable to the Property which
<br />Payments
<br />Of. if teat or ground rents, if any, in the manner provided under paragraph 2 hereof
<br />paid in such manner, by Borrower 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 to 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 be required to discharge any such lien so long as Borrower shall agree in writing
<br />obligation secured by such lien in
<br />to the payment of the
<br />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
<br />of the Property or any part thereof.
<br />S. HAUM !emote. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />hazards included within the term ""tended
<br />against loss by fire,
<br />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
<br />the sums secured by this Dee! of Trust.
<br />of such coverage exceed that amount of coverage required to pay
<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
<br />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
<br />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,
<br />Lender all renewal
<br />and Borrower shall promptly furnish to
<br />notices and all receipts of paid premiums. In the event of loss. Borrower shall
<br />Lender. Lender may make proof of loss if not made promptly by Borrower. give prompt notice to the insurance carrier and
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shalt be 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 impaired. if
<br />restoration or repair is not economically feasible or if the security
<br />such
<br />of this Deed of Trust would be impaired, the insurance proceeds shalt be
<br />applied to the sums secured by this Deed of Trust, with the excess• if any, paid to Borrower. If the Property
<br />Borrower fails to respond
<br />is abandoned by Borrower, or if
<br />to Lender within 30 days from the date notice is Mahal by Lender to Borrower that the insurance carrier
<br />settle a claim for insurance benefits. Leader is authorized
<br />offers to
<br />to collect and apply the insurance proceeds at Lender's option either to restoration
<br />repair of the Property or to the sums secured by this Deed of Trust.
<br />or
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall
<br />date of the monthly installments referred
<br />not extend or postpone the due
<br />to in paragraphs 1 and 2 hereof or change the amount of such installments. If under
<br />hereof the Property is acquired by Lender, all right, title and interest paragraph 18
<br />of Borrower in and to any insurance
<br />thereof resulting from damage to the Property prior to the sale or acquisition shall Policies and is and to the proceeds
<br />of Trust immediately prior to such Pass to Lender to the extent
<br />sak or of the sums secured by this Deed
<br />b. �� sIM acquisition.
<br />MabMst�ti of may; �";
<br />Property in good r CondomlNa�; Phusse ! Udt Der
<br />repair and shall not commit waste or permit impairment Borrower shall keep the
<br />of any lease if this Pairmcln or deterioration of the Property and shall comply with the provisions
<br />shall
<br />Dad of Trust is on a leasehold. If this Deed of Trust is on a unit in a condominium or a
<br />shall perform all of Borrower's
<br />planned unit development, Borrower
<br />obligations under the declaration or covenants creating or governing the condominium or Planned
<br />development, the by -laws and regulations of the condominium
<br />unit
<br />or planned unit development, and constituent documents. If a condominium or
<br />Planned unit development rider is executed by Borrower and recorded together with this Deed of Trust, the covenants
<br />ricer stall be incorporated into and shall
<br />and agreements of such
<br />hereof.
<br />amend and supplement the covenants and agreements of this Deed of Trust as if the rider were a part
<br />Y• PrOW1194 of f.eMn's 9ecarity. If Borrower fails to perform tile
<br />action or proceeding is commenced which materially affects der's terest m the Property. ageements contained in this Deed of Trust, of if any
<br />insolvency, code enforcement. including,
<br />but not limited to, eminent domain,
<br />or arrangements or proceedings involving a bankrupt or decedent, then bender at Lender's option, upon
<br />fO Borrower, trtay make such appearances, disburse such sums
<br />amain,
<br />anti 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 Lender required
<br />as a condition of making the loan secured by this Deed
<br />of Trust, Burrower shall mortgage
<br />until such time as the r pay the premiums required w maintain such insurcerio effect
<br />requirement for such insurance terminates in accordance with Borrower's and Lender's
<br />law. Borrower the
<br />written agreement or applicable
<br />mortgage insurance premiums in the manner provided under paragraph 2 hereof.
<br />amounts isb
<br />Any amounts disbursal by Lender
<br />by Lender
<br />Pursuant
<br />secures this
<br />pursuant to this paragraph 7, with interest thereon, shs4 timome additional indebtedness of Borrower
<br />Trust. Unless Borrower and Lender agree to
<br />o weer requesting
<br />other tern[$ of payment, such amounts shall be payable upon t:otice from
<br />payment thereof, and shall bear interest front the date of disbursement
<br />trutstaading grincipal under
<br />outstanding i Borrower I under
<br />the
<br />the Note unless at the rate payable from time to time on
<br />shall bear inteeest of the h' payment of interest at such rate would he contrary to applicable law, in which event such amounts
<br />highest rate permissible under applicable law. Notting
<br />expense
<br />contained in ihix
<br />or take any action hereunder, paragraph 7 shall require Lender to incur
<br />any
<br />p' f . Lender may make or cause to be made reasonable entries uflon and inspections
<br />gsve B°trowtr notice prior to
<br />of the Property, provided that I. oil et sha8
<br />any such insertion sfxwilyittp reasonable cause therefor related io Lender's interest in the Property.
<br />Trite Proceeds of act award or
<br />xtrer taking of the Property, or part
<br />v claim for damapyes, chiral or umsrqurntral, in ronocs'to >ii With auY rundr'nulauun
<br />artth fore In it
<br />in lira ul rr.ltdernrsation. ,err "Iti e "
<br />In tier event of a total taking
<br />(Xccdcr
<br />assigned and shall
<br />the Property, f,ald to I rndri.
<br />o(the Property, the pr/o[red.% shall 1 C aplplt <'d ro the :uius secured t y this Ikrd of Trust, N uh tits rsrrsa• if
<br />traed to iiorrowcr. !n the event nLe g I
<br />Partial noels of the Pro Irrty, unless It
<br />Is, 4fee ',nBr15
<br />any,
<br />•' +r+. lend fry this l%cd of (rtltt SUB: fI terUfei 1118(111 Ian If1e t1e�KCrd. :r.
<br />arnwrr mlid I [rider otherwise ague it] NnUng, Ihrre shrill i,e;Bpt,lir,i
<br />l
<br />I� ¢•� IIt:B) II, Ihnt t,llli'ry if lll!li N1 {Ilh 7111' :1111rII;IB "t the III III( \V, wed
<br />d
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