|
85- -003716
<br />If Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of which are
<br />insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply
<br />and Funds to pay said taxes. assessments, insurance premiums and ground rents. Lender may not charge for so holding
<br />applying the Funds. analyzing said account or verifying and compiling said assessments and bills. unless Leader
<br />pays Borrower interest of the Funds and awe law permits Lender to make such a charge. Borrower and Leader
<br />may agree in writing at the time of execution oft his Deed of Trust that interest on the Funds shall be paid to Borrower,
<br />.
<br />and omen such agreement is made or applicable law requires such interest to be
<br />y earnings on the Funds. Lender' shall to Lender shall nor g bet annual
<br />accounting Fa uaterest or give Borrower, without 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 I=& an pledged as additional security for the sums secured by this Deed of Trust.
<br />If the amount of tare Funds held by Leader, together with the future monthly installments of Funds
<br />the doe data of tam, assts, aace payable Prat to
<br />taxes, assts, insurance Leas and st d shall execed the amount r uired to pay said
<br />premiums ground tests as they fall due, such excess shall be. at Borrower's option,
<br />ether promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the
<br />Fronds hell by Lender shall not be suywient to pay taxes, assessments, insurance premiums and ground rents as they fall
<br />dux. Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as Leader
<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 prDPertY Leader. Leader shall apply, no later than inured' is sold P the Property is otherwise acquired by
<br />Fins peel by Leader at the time of rarely prior t° the sal of the Property a its acquisition by Leader, arty
<br />application as a credit against the sums secured by this Deed of Trust.
<br />the l3. of �• Unless applicable law provides otherwise, all payments received by Lender under
<br />the Nett wudp paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by
<br />paragraph 2 hereof, then to interest payable on the Noe, and then to the principal of the Note.
<br />under
<br />!. lsfaur armed Devi d T a.rpzmts; Ilse. Borrower shall perform all of Borrower's obligations
<br />i any sort gage. deed of trust or other security agreement with a lien which has priority over this Deed off Trust,
<br />tY>l s covenants to make Payments when drat. Borrower shall pay or cause to be maid all taxes, and other charges, fires and SrPositirms attributable to the Property which may attain a priority over this
<br />Deed of Trust and leasehold payments a ground rents, if any.
<br />S. Ruccurd >smesanee- Borrower shall keep the improvements now existing or 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 is a farm
<br />acceptable to Lender and shall include a standard mortgage clause in favor of and in a form acceptable to Lender.
<br />Letutkr shall have the right to hod the policies and renewals thereof, subject to the terms of any mortgage. deed of trust
<br />°r other may agreement with a lieu 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 rot made promptly by Borrower.
<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 mused 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 proceeds at Lender's option either to restoration or repair of the
<br />Property of to the swat secured by this Deed of Trust.
<br />b- Price is and Maw of
<br />�lwty; Lwceehdde;
<br />rower shall keep the Property in good repair, and shall not commit waste or permit imp Usk .
<br />Property and shall comply with the Pe impairment If deterioration u the
<br />provisions of any lease if this Deed of Trust is on a leasehold. If this Deed of Trust is
<br />om a is a condominium or a planned unit devehrpment. Borrower shall
<br />the declaration or covenants creating r perform all of Borrower's obligations under
<br />relutations g governing the condominium our planned unit development, the by -laws and
<br />of the condominium or planned unit development, and constituent documents.
<br />7. lrseeseWn of Lender's Seeaeity. If Borrower fails to
<br />Deed Of Trst, or if P�� the covenants and agreements contained in this
<br />any action or Proceeding is commenced which materially affects Lender's interest in the Property,
<br />then Leader. at Leader's option, upon notice to Borrower, may make such appearances, disburse such sums, including
<br />attorneys' fba, and take such action as is necessary to protect Lender's interest. If Lender required mortgage
<br />at a iRsurso of erg loan secured by this Deed of Trust, Borrower shall pay the premiums required to
<br />memta� such isce is elect until such time as the requirement for such insurance terminates in accordance with
<br />Borroww's and Lesdem''s written agreement or applicable law.
<br />AMY amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon. at the Note rate, shall
<br />become ad ditimW indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to
<br />Other teems of Payment, such amounts shall be payable upon notice from Lender to Borrower requesting p there• Nag in this paragraph 7 shall require Lender to incur an ex u )dent
<br />>L �. Lender may make a cause to be made Y Pcese or take any action hereunder.
<br />provided tl E notice reasonable entries upon and inspections of the Property, Leader
<br />tad to Lender's in the Property. � to any such inspection specifying reasonable cause therefot
<br />f. Cimdmmmdm- T7x proceeds of any award or claim for dam
<br />-Y cOft6ftusation ages. direct or consequential. in connection with
<br />or s other taking of the
<br />hereby and de Property' or part thereof, or for conve,ance in lieu of condemnation, are
<br />l be paid t° Laude subject to the tams of any gam• deed of trust or other security agree.
<br />sand 016 a lies which has priority over this Died of Trust.
<br />W Dericatectir prat Bound; Fwbsnmee By Lender NM a Walver. Extension of the time for a
<br />of the scums secured by this Decd of Trust granted by Lender to any successor n interest coif
<br />L to release. in any nunser. the liability of the original Borrower and Borrower's successors in
<br />insured- Lender � be required to commence
<br />am or proceedings against such surcessor or refuse to extend time Pear pay-
<br />modify imiOn Of the suns secured by this Dead of Trust by reason of any demand made by t he
<br />and s successors in interest. Any forbearance by Lender in rxercising any right or rrmcdti
<br />a otherwise a ed by applicable law, %ball not be a waiver of or preclude the exercise of any such right tar
<br />remedy.
<br />11. Sncereaeea and Aasigws 6odrndt Jour and Seven! Llabitky: Co-signers.
<br />hercia contained rshhaJl hind, and the rights hemumkt shall inure to. the re %prctn cee hr,ra a cnan,r4.
<br />lie— suer. %ubpeci to the provt %}emu t>f paragraph lb hearted. All coy
<br />enant%and at,trenwul%of Rorlo vt ,hall N. t,.rnt an,i
<br />several. Any �rrowrt hocu- steins List% Heed a f "I rust. but duns not wrccule the N�.t ray rt r�� ,rc•nn� rdas� ! hci) of 1 rust
<br />.e ^ +y t:, ytraazt asyr� ;cnnwev ttaaa ��owet_s inn ^reel m aha' Yn,larrn t�� 7 rustee uncSxrr ttm turn, nt ;hr, l.kr i ! 1 r us.. � �.r r,
<br />
|