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R] °- 003917 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 give to Borrowq, wi charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds wars ni�a�e: The Funds are pledged as additional security for the sums secured by this Deed of Trust. if the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due dates of iaxes, assessments, insurance premiums an4 ground rents, shall exceed the amount required to pay said taxes, assessments, insurance premiums and ground rents as they fall dux, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall dux. Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed by Lender to Borrower requesting payment thereof. Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any Funds held by Lander. If under paragraph Ig hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later than immediately 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 secured by this Deed of Trust. 3. Ap/Ycadoa d taymeMs• Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs 1 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 payable on the Note, then to the principal of the Note, and then to interest and principal on any Future Advances. ♦, Charges; Lleas. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which 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 or, if not paid in such manner, by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Deed of Trust; 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 obligation secured by such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defene enforcement of such lien in, legal proceedings which operate to prevent the cnforcerrenr of the lien or forfeiture of the Property or any part thereof. S. Hattaril Iwnoce. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards includes; within the term -'extended coverage•-, and nosh other hazards as Lender may require and in such amounts and for such periods as Lender may require; provided, that Lender shall not require that the amount of such coverage exceed that amount of coverage required to pay the sums secured by this Deed of Trust. The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided, that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the insurance carrier. All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, and Borrower shall promptly furnish to 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 lender. Lender may make proof of loss if not made promptly by Borrower. finks, Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, provided such restoration or repair is economically feasible and the security of this Deed of Trust is not thereby impaired. If such restoration or repair is not economically feasible or if the security c his Deed of crust would be impaired, the insurance proceeds shall be applied to the sums secured by this Dad of Trust, with the excess, if any, paid to Borrower. If the Property is abandoned by Borrower, or if 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 setrie a claim for insurance benefits. Leader is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or ;cpair of the Property or to the sutras secured by this Deed of Trust. Unless Lender and Borrower otherwise agree in writing, any such application of prtxeeds to principal shall not extend or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of such installments. If under paragraph 18 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 thereof rt,••._iing from damage to the Property prior to the We or acquisition shall pass to Lender to the extent of the sums secured by this Deed of Trust immediately prior to such sale or acquisition. 6, Prsoeeradoo W 11MHMraatsst of hogerty; Leoseholla, ( o odominium; Ptaooed Unit Deveiopoe ts. Borrower shall keep the Property in good repair and shall not commit waste or permit ins, aitmew or deterioration of the Property and shall comply with the provisions of any lease if this Deed of Truest is on a leasehold. If this feed of 'I rust is on a unit in a condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration or •Covenants creating or governing the condominium or planned unit development, the by -laws and regulations of the condominium or planned unit development, and constituent documents. If a condominium or planned unit development rider is executed by Borrower and recorded together with this Decd of Trust, the covenants and agreements of such rider shall be incorporated into and shag amend and supplement the covenants and agreements of this Deed of Trust as if the rider were a part hereof. 7. Prsssetloa of Leader's Seeority. if Borrower fails toper form the covenants and agreements contained in this Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Property, including, but not limited to, eminent domain, insolvenc), code enforcement, or arrangements or proceedings involving a bankrupt or decedent. then Lender at Lender's option, upon notice to Borrower, may make such appearance, disburse such sums and take such action as is necessary to protect Lender's interest, including, but not limited to, disbursement of reasonable attorney's fees and entry upon the Property to make repairs. If Lender required mortgage insurance as a condition of making the Man secured by this Decd of Trust, Borrower shall pay the premiums required to maintain such insurance in effect until such ume as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. lkirrower shall pay the amount of all mortgage insurance premiums in the manner provided under paragraph 2 hereof. Any amounts disbursed by lender pursuant to this paragraph ?, with interest thereon, shall become additional indebtedness of Brnrower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment, such amounts shall he payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest floor the date of disbursement at the rate payable from time to time on owtstarsdins principal under the Note unless payment of interest at such rate would be contrary to applicable law, in which event such amounts shall bear iMaest at the highest rate permissible under applicable law. Nothing contained in this paragraph 7 shall require I ender to incur env etpense or take any action hereunder. g. Ioaprflos. Lersder may make or cause to he made reasonable entries upon and inspections of the Property, provided that Lender shall gut Botrowen notcee prior to any such inspection specirying reasonable cause therefor related to Lender's interest in the Property. i it •. CooeMwortles. The proceeds of any award or claim tot damages, direct or consequential, in connection wish ,uiv condemnation of twhrf taking of the Properly, or part thereof. or for convevanre in lieu ,i1 tiluden;naiion, are herebv assigned and shall hr said to D ender n In theesctu of a local takingof the Property, the pimeesds shall tie app!inf tci ihr sums se cared by this Deed nit Must, wiih ihr cscev , :I am, , ,•arid u•• ltaNSr9wer In the event of ■ partial eking of the Property. wd,,, lto,ro rr and I ender ,ithcrut%e atria w %ininit, there *hall he apsl,cnl ,,,!he suirt +'enured by this Dead of Trust vach proportion of ihr snxre,i, ,, i, ; ^y„al , , than i =i,gw,tt,oh, ah,tl, ti,r annnnit :,l ,hi m, <<.,r"t R]