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85-1* 00,3018
<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 Deed 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 />t ground rents as they fall due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly
<br />t installments of Funds. if the 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 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 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 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 sums
<br />secured by this Deed of Trust.
<br />3. Application 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 or. the Note, then to the principal of the Note, and then to interest and principal on any Future Advances.
<br />4. Chaegea; Liens. 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 part thereof.
<br />5. Hazard 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 and 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 Deed of Trust.
<br />The insurance currier 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 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 />Ail insurance policies and renewals thereof shall he 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 />Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property
<br />damaged, 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 not economically feasible or if the security of this Deed of Trust would be impaired, the insurance proceeds shall be
<br />applied to the sums 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 fails to respond to Lender within 30 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 apply the insurance proceeds at Lender's option either to restoration or
<br />repair of the Property or to the sums secured by this Deed of Trust.
<br />Unless Lender 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 />hereof the Property is acquired by Lender, all right, title and interest of Borrower in and to any insurance policies and in and to the proceeds
<br />thereof resulting from damage to the Property prior to the sale or acquisition shall pass to Lender to the extent of the sums secured by this Deed
<br />of Trust immediately prior to such sale or acquisition,
<br />b. PrestitcrvNdOm cad Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower shall keep the
<br />Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions
<br />of arty lease if this Deed of Trust is on a leasehold. If this Deed of Trust is on a unit in a condominium or a planned unit development, Borrower
<br />shall perform all of Borrower's obligations under the declaration or covenants creating or governing the condominium or planned unit
<br />development, the by -laws and regulations of the condominium 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 and agreements of such
<br />rider shall be incorporated into and shall amend and supplement the covenants and agreements of this !heed of Trust as it the rider were a part
<br />hereof'.
<br />7. Protection of tender's Security. If Borrower fails to perform the covenants and agreements contained in this Deed ()I Trust, or if any
<br />action or proceeding is commenced which materially affects (,ender,,, interest in tite Property, including, but not limited it), erninent domain,
<br />insolvency, code enforcement, or arrangements or proceedings involving a bankrupt or decedent, then lender at I ender' o ptiorl, u;wlt notice
<br />to Borrower, may make such appearances, disburse such sutras and take such action as is necessary to protect !ender'. iuteresr, including, but not limited to, disbursement of reasonable attorney's fees and entry upon the Property to make repairs. It Lender required mortgage insurance
<br />its a condition of making the loan secured by this Deed of 'T'rust, l3 MOwer shall pay the prenliurtts required to maintain such insurance in effect
<br />lentil such time as the requirement for such insurance terminates in accordance: with Borrower"; and I ender's written agicerraent ur applicable
<br />law. Borrower shall pay the amount of all mortgage insurance premiums in the manner pro icled tinder paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, �.h.11 heroine additional indebtedness of f4or rower
<br />secured by this Deed of Trust. Unless Borrower zutd Lender agree to tither terms of Myntcnt, such amounts shall he payable ulxxt notice from
<br />Lender to Borrower requesting payment thereof, and shall hear interest frown the elate (q c11st4ursenlcnt Est rile rate payable Irout tittle. ti) time on
<br />sutstartsling pri'a ipnl under the Note rules payment oaf interest at such late would hr contrary to applicable law, in which event such a lliounts
<br />shall im ' interest at the highest rate permissible under :applicabie law. Nothing contained in thl5 l'arattl,aph 7 shall'P�,;irir -r 1 e°nde, to incur auiv
<br />afreriae a,r take any action hereunder.
<br />g•
<br />111s11iftt►on, Lender 'Tiny make ear cause to be made reasonable dill I, titrurr clod in,, ae °etsun r,t rtle i "ru
<br />wive' ijo €itswcr notice prior to any Ouch inspection SIXcOving reasonable Carrsc the rth.�r related to 1 rruls�r'S riltrrc�l ilia rhea( °rut d tv at Linde! ,,hall
<br />"MIOM11111111101111. the ptsn:eeds art ally awald e,r .faun for daaniagc.s, zlorfsr er ,.s,il >« ercruaai, iii
<br />'Ihr a rAKrfiK eel tat$" 11ro era , of t a ItlrCil9(lrl !girl! ;sill- alnali'rilil,ltle 111 11l
<br />l y l�r' ((left °e /I, �1I Ior a llrrEf �.091�e' In lit'tb f'i t71Si {':F133 t9!i ?rd, Eat bt'r C't� <d `', [j�, lC ti e.tlil Ilklil f °t' I +td3lt Pig t f'iiltt'I
<br />Ira `f� g++Ct3t rrl at rtrtal takingail the Property, the pith ca'd� `ti `1Il be ,etet,llt co ( Ile tit rl9a ,E'd ilr : it lR� tPrl -+ iRi.4 ti l C rt1�3, '.�ti 11 felt' "ail >, !f ,lire,
<br />tog r ,a :r
<br />In the fWart ul a pamal Lakin f the
<br />!R o t r'. mesa Ira z >s, rtief I a;r,lc�t a ,let °t nr <9par, � ;rryr, lire ^ 'hall ha, e i ti ,lwd
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