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85---,002991
<br />If Borrower pays Funds to Lender, the Funds shall he held in an institution the deposits or accounts of which are
<br />insured or guaranteed by a Federal or state agency (including Lender it' 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 bills, unless Lender
<br />1,,, 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 field 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 tall due, such excess shall be, at Borrower's option,
<br />either promptly repaid to Borrower or credited to Borrower on monthly irsta!iments of Funds. If the amount of the
<br />Funds held by bender 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 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 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 />4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrokcer 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, tines and impositions attributable to the Property which may ;a
<br />Deed of Trust, and leasehold payments ar ground rents, if'any. train a priority over this
<br />5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected un the Property
<br />insured against loss by tire, hazards included within the term "extended coverage-. and such other hazards as 1_c:nder
<br />may require and in such amounts and for such periods as Lender Wray require.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided,
<br />p that such approval shall not be tanreasonably withheld. Ali insurance policies and renewals thereof shall he in a form
<br />I acceptable to lender and shall include a standard mortgage clause in favor of and in a form acceptable to [xnder.
<br />Lender shall have the right to hole! 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
<br />of loss if not made promptly by Borrower. 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 />If the Property is abandoned by Borrower, or it Borrower fails to re%pond 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, [_ender is
<br />authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair lit the
<br />Property or to the sums secured b,, this Deed of Trust.
<br />6• Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Bor-
<br />rower shall keep the Property in good repair and shall riot commit waste or permit impairment or deterioration of the
<br />Property and shall comply with the provisions of any lease if this Deed of'I'rust 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 under
<br />the declaration or covenants creating or governing the condominium or planned unit development, the by-laws and
<br />regulations of the condominturn or planned unit development, and constituent documents.
<br />7. Protection of Lender's Security. It' Borrower fails to pertbrm the covenants and agreements contained in this
<br />Deed of `hrust, ur if any action or proceeding Is commenced which materially affects Lender's interest in the I'rolct-tc,
<br />then Lender, at Lander °s option, upon notice to Burrower, may make such appearances, disburse such %lints, Including
<br />reasonable attorneys' fees, and take such action as is necessary to protect Lender's interest. If Under required mortgage
<br />insurance as a condition otrnakin9 the loan secured by this Deed of Trust, Borrower shall pay the premiums required to
<br />maintain such insurance in effect until such time a% the requirement for such insurance terminates in ;accordance with
<br />Borrower's and Lender's written agreement or applicable jaw.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the Note rate, shall
<br />become additional indebtedness of Borrower secured by this Deed of Trust. Unless Borrower ;and [xnder ;agree to
<br />other terms of payment, such amounts shall Ile payable upon notice from [.ender to Borrower requesting p;aymo °nt
<br />thereof. Nothing contained in this paragraph ?shall require I,ender to incur any expense or take any action hereunder.
<br />l4. inspection. lender may make or cause to be made reasonable entries upon and inspections lit the !'ropeity,
<br />provided that Lender shall give Borrower notice prior to anv such inspection Specifying reasonable cause therefor
<br />related to Lender's interest in the F ' rolkrty.
<br />9. Condemnation. The prccccds of any ;award or claim for datnages, direr, or c•onseyllential, in connection with
<br />ally condemnation or other taking of the Property. or part thereof. or for conveyance in lieu of, condemnation, sure
<br />hereby assigned and shall be paid to Lender. subject to the terms of arty mortgage,
<br />Ment with a lien which has priority over this Decd of Trust. deed of trust or other secur-ity agree -
<br />i0. Borrower Not Released; Forbear ec°e By Lender Not a Waiver. I:.xacnsi,m of the time for payment or
<br />motdification of amortization of the stints secured by this Decd of Trust granted h% Lcndur to :lit% successa)r in interest of
<br />L F3c::rr :)wcr shall not olarate to relu;a%c, in all%• ntannur'. the liability of, rho origin al Burrusver and Borrower'% slicer %sacs nt
<br />interest. Lender sh;tll nut fc required to cxnt)rucncc pli-meedilt•gs against such succes %))r nr re Irtsc to extend timE fur Pay.
<br />me nt or otherwise mf�ti.fr ;tmurtizalion ( +f they %urns secured by this Dcuff of l't•ust h% rcasa,n ,)t ;any demand rtlade by rho•
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