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If Borrower pays Funds to Lender, the Funds shall be held in an institution the de��tts�or as c untsof which are
<br />insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply
<br />the Funds to pay said taxes, assessments, insurance premiums and ground rents. [ender 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 />pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and tender
<br />may agree in writing at the time of execution of this Deed of Trust that interest
<br />and unless such on the Funds shall be paid to Borrower,
<br />agreement is made or applicable law requites 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 char
<br />accounting of the Funds shaving credits and debits to the Funds and the u the an annual
<br />tirade' The Funds are pledged as additional security for the sums secured by this purpose
<br />of Trust.
<br />each debit to the Funds was
<br />If the amount of the Funds held 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, shalf exceed the amount required to pay said
<br />taxes. assessments, insurance premiums and 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 installments of Funds. If the amount of the
<br />Funds held by Lender 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 tender
<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 b_v 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 Pannents. 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 MOrtgnes and Deeds of Trust; C , Liens. Borrower under any mortgage, deed of trust or other security agreement wi a lien Swhic perform
<br />has riority�ovBer thiseDeedbof Trusts
<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, fines and impositions attributable to the Property which may attain a priority over this
<br />Deed of Trust, and leasehold payments or ground rents, if any.
<br />5. Hazard Insurance. Borrower shall keep the improvements now existing nr hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage ", and such other hazards as Lender
<br />may require and in such amounts and for such periods as Lender may require.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided,
<br />that such approval shall not be unreasonably withheld. All insurance policies and renewals thereof shall be in a form
<br />acceptable to Lender and shall include a standard mortgage clause in favor of and in a form acceptable to Lender.
<br />Lender shall have the right to hold the policies and renewals thereof, subject to the terms of any mortgage. deed (if' trust
<br />or other security agreement with a lien which has priority 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 />Of loss if not made promptly by Borrower.
<br />If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 10 days from the date
<br />notice is mailed by lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender is
<br />authorized to collect and apply the insurance procceds at L.ender's option either to restoration or repair of the
<br />Property a' to the sums secured by this Llecd Of 7•rust.
<br />b. PrOmmatien and Mtdntenanee of Property; icaecholds; Condominiums;
<br />rower shall keep the Property in good repair and shall not commit waste or permit l impairment Unit or de`eriopmeono B tit
<br />Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. It this Deed otTrust is
<br />on a unit in a condominium or a planned unit development, Borrower shall perform all of' Borrower's obligations undr
<br />the declaration or covenants creating or governing the condominium or planned unit development, the by-laws and e
<br />regulations of the condominium or planned unit development, and constituent documents.
<br />T' Lender's Seernritr. If Borrower fails to pert %arm the covenants and agreements contained in this
<br />Deed of Trust, or if any action or proceeding is commenced which materially affects Lander'-, interest in the Property.
<br />then Lender, at Lender's option. upon notice to Borrower. may make such a
<br />le attorneys' fees, and take such action as is necessary to protect Lenders intermit. disburse
<br />t Lender required mortgage
<br />insurance as a condition of making the loan secured by this Deed of Trust. Borrower shall pay the premiums required to
<br />maintsia h insurance in effect until such time as the requirement for such insurance terminates in accordance with
<br />Any er's and Lcnv:er's written agreement or applicable law.
<br />amounts disbursed by Lander pursuant to this paragraph ', with interest thereon, at the Note rate, shall
<br />indebtedness of Borrow=er securest by this Deed of Trust. Unless Borrower and Lender agree to
<br />other terms Of Payment- such amounts shall be payable upon notice from Lender to
<br />t � contained in this par Borrower requesting payment
<br />p agraph 7 shall require Lender to incur any expense or take any action hereunder.
<br />Provided ;. Inepordow. Lender may matte or cause to be made reasonable entries upon and inspections of the Property.
<br />that Lehr shall give Borrower notice prior to any such inspection sprcitying reasonable cause therefor
<br />t d to 's interest in the Property..
<br />9. - The Proceeds of any award or claim for damages. direct or consequential, in connection with
<br />any condemnation or other taking of the Property, Or part thereof'. or for conveyance in ! cu of condemnation, are
<br />mom with shall be pald to Lender, sub, t to the terms of any mort
<br />a , which has PtiOnly over this Deed o gage, deed 'trust or other security agree-
<br />f'I�rust, o(
<br />14L Bftvoww Not Reinnig, ; Forbourence Lender Not a m
<br />Borrower shall M t.' of�the sums secured bythis d Of"I rust �grantedI xt Insioer to shy s imesfor eta u►Ierrat of
<br />site to qui to am man ner, the liability of the original 'Borrower and Borrower's successors in
<br />interest' Lender be t to carrne tic
<br />� otherwise ,cif Proceedings against such successor a:or retuse to vste•nd timc for pat .
<br />y 1 t l of the sums cured n this I -herd of i'rust by° reason of and dernand n►aete by the
<br />tl Borrower And Bcweer's stke in interest. Any fibearar>ie by Lender in eterc ts►ng anp right i�r rvn ►ct.iv
<br />hemod", oaf mhcr*lu &Pkvdcd by afqAacabk law„ shall not be a waiver sat c,e prvelet<tc the e.teri lse of any ar, to ri tat <<r
<br />rely..
<br />11. std
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