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85 ,003391
<br />If Borrower pays Funds to Lender, the Funds shall be held in 0339
<br />an institution the deposits or accounts
<br />insured or guaranteed by a Federal or state agency (including tender if Lender is such an institution).
<br />the Funds to said
<br />pay Lender shall apply
<br />taxes• assessments, insurance premiums and ground rents. Lender may not charge for so holding
<br />and applying the Funds, analyzing said account or verifying
<br />and compiling said assessments and bills, unless Lender
<br />Pays Borrower interest on the Funds and applicable law permits Lender to make such a
<br />may agree in writing
<br />charge. Borrower and Lender
<br />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 requites such interest
<br />to be paid. Lender shall not he required
<br />to Pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without
<br />accounting of the Funds
<br />charge, an annual
<br />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
<br />secured by this Deed of Trust.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds
<br />the due dates of taxes, assessments,
<br />payable prior to
<br />insurance premiums and ground rents, shall exceed the amount required to pay said
<br />taxes, assessments, insurance premiums and ground rents
<br />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
<br />Funds held by Lender shall not be
<br />amount of the
<br />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
<br />may
<br />require. one or more payments as Lender
<br />Upon payment in full of all sums
<br />secured by this Deed of Trust, Lender shall promptly refund to Borrower
<br />Funds held by Lender. If under
<br />any
<br />paragraph 17 hereof the Property is sold or the Property is otherwise acquired by
<br />Lender. Lender shall apply, no later than immediately
<br />prior to the sale of the Property or its acquisition by Lender, any
<br />Funds held by Lender at the time ofapplication as a credit against the sums secured by this Deed of Trust.
<br />3. Application of payments. Unless
<br />applicable law provides otherwise, all payments received by Lender under
<br />the Note and paragraphs 1 and 2 hereof shall be applied by Lender
<br />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 />�f� and Deeds
<br />of Trust; Charges; Liens. Borrower shall perform all of Borrower's obli ations
<br />unde4.anmortgage, deed of trust or other security agreement
<br />with a lien which has priority over this Deed of Trust.
<br />including Borrower's covenants to make payments when due. Borrower shall
<br />assessments
<br />pay or cause to be paid all taxes,
<br />and other charges, fines and impositions attributable to the Property which may attain
<br />Deed of Trust, and leasehold
<br />a priority over this
<br />payments or ground rents, if any.
<br />S. Hazard Imuranm, Borrower
<br />shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the "extended
<br />term 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
<br />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
<br />acceptable
<br />policies and renewals thereof shall be in a form
<br />to Lender and shall include a standard mortgage clause in favor of and in a form acceptable
<br />Lender shall have the right to hold the
<br />to Lender.
<br />policies and renewals thereof. subject to the terms of any mortgage. deed of trust
<br />or other security agreement with alien which has priority over this Decd
<br />of Trust.
<br />In the event of loss. Borrower shall give prompt notice to the insurance
<br />of loss if not made promptly by Borrower.
<br />carrier and Lender. lender may make proof'
<br />v
<br />If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date
<br />notice is mailed by Lender to Borrower that the insurance
<br />carrier offers to settle a claim for insurance benefits. Lcnder is
<br />authorized to collect and apply the insurance proceeds at Ixnder's option either to restoration
<br />Property or to the sums secured
<br />by this Deed of Trust. or repair of the
<br />6. Preservation and Maintenance
<br />of Property; ! caseholds; Condominiums; Planned Unit Deve1
<br />rower shall keep the Property in good repair and shall not commit opmeats. Bor•
<br />R
<br />waste or permit impairment or deterioration of the
<br />Property and shall comply with the provisions of an)' lease if this Deed of - Irust is on a leasehold. If this Deed ol'Trust is
<br />on a unit in a condominium or a planned unit development.
<br />Borrower shall perform all of Borrower's obligations under
<br />the declaration or covenants creating or governing the condominium or planned unit development,
<br />regulations ofthe condominium
<br />the by -Jaws and
<br />or planned unit development, and constituent documents.
<br />7, PtOtoction of Leader's Security. If Borrower fails to
<br />perform the covenants and agreements contained in this
<br />Deed of Trust, or if any action or proceeding is commenced which materially nano affects Lender's interest
<br />then Lender, at Lender's
<br />in the Property,
<br />option, upon notice to Borrower, may make such appearances, disburse such sums, including
<br />reasonable attorneys' fees, and take such action as is necessary to
<br />protect Lender's interest. If Lender required mortgage
<br />insurance as a condition of making the loan secured by this Deed of Trust, Borrower
<br />maintain
<br />shall pay the premiums required to
<br />such insurance in effect until such time as the requirement for such insurance terminates in accordance
<br />Borrower's and Lender's written agreement
<br />or applicable law. with
<br />Any amounts disbursed by Lender
<br />pursuant to this paragraph ', with interest thereon, at the Note rate, shall
<br />become additional indebtedness of Borrower secured by this Deed of Trust. Unless Borrower
<br />Other terms of
<br />and Lender agree to
<br />Payment, such amounts shall be payable upon notice from Lender to Borrower requesting
<br />thereof. Nothing contained in this paragraph 7 shall
<br />payment
<br />require Lender to incur an) expense or take any action hereunder.
<br />a• Im4w'tdaa. Lender may make or cause to be made
<br />reasonable entries upon and inspections of the property,
<br />provided that Lender shall give Borrower notice prior, to any such inspection specifying reasonable
<br />related to L.endcr's interest in the Property,
<br />cause therefor
<br />9. Condsmaatdan. The proceeds of any award or claim for
<br />damages, direct or consequential, in connection wish
<br />any condemnation or other taking of the Property, or part thereof, or for cons, yance in lieu
<br />hereby assigned and shall be
<br />of condemnation, are
<br />paid to Lender, subject to the terms of any mortgage, decd of trust or other security
<br />ment with a lien which has priority over this Deed Trust.
<br />of agree-
<br />tic Burrower Not Reiemed; Forbearance By Lender Not
<br />a Waiver. Extension of the time for payment or
<br />modification Of mization of the sums secured by this Deed of Trust granted by Lender to any
<br />Borrower shall not operate to release,
<br />successor in interest of
<br />in any manner, the liability' of the original Burrower and Borrower's in interest o
<br />interest. tender shall doff be required to commence
<br />proccedings against such successor or refuse to extend time for pay.
<br />anent or otherwise modify amortization of the sums secured by this Deed of Trust by rc;ox9n
<br />rawer and Blrrowed
<br />of any demand made by the
<br />herena) r.
<br />successors it, interest. Any forbearance by lender in exercising; any right or reined,
<br />hereunder• tr oMherwise afti+rdad by applicable law, shall not be
<br />remedy.
<br />a waiver +,f or pre•c•lude the exercise of ;arty son; h right „r
<br />11' Swrorssors and Assigns Bound. Joint
<br />Berm and Several Liability; Co-signers. TTtc „moans and
<br />shall laorxl. ;unf the rights hereunder shall inure tot, the
<br />a tremcnrs
<br />Borrower.
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