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<br />applicable law requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Leader shall
<br />give to Borrowerr[y.."t charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each
<br />debit to the Ftmd� w`t fo`Ik. 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 />I assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes, assessments, Insurance premiums and
<br />ground rents as they fail dire, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly
<br />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 rants 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 LRmder. if
<br />under paragraph IS 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. Agp11ca11oa of rayaeelb. 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 Leader by Borrower under paragraph 2 hereof, then to interest
<br />payable on the Note, then to the principal of the Note, and then to interest and principal on any Future Advances.
<br />4. CYargaa. Liear. Borrower shall pay all taxes, assessments and a er charges, fines and impositions attributable to the Property which
<br />may attain a priority over this Deed of Trust, and leasehold payments or ound 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 loot as Borrower shall agree in writing to the payment of the
<br />obligation secured by such lien in a manner acceptable to [ender, 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 />S. Hazard hnttranee. 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 Leader 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 Dad of Trust.
<br />The insurance carrier providing the insurance shall he chosen by Borrower subject to approval by Lender; provided, that such approval
<br />shall not be unreasonably withheld. All premiums on insurance policies shall Ire paid in the manner provided under paragraph 2 hereof or, Knot
<br />paid in such manner, by Borrower making payment, when due, directly to the insurance carrier.
<br />All insurance policies and renewals thereof shall be 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 />Lander all renewal notices and all receipts of paid premiums, fit the even; 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 Borruwer.
<br />Unless Leader 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 mx economically feasible or if the security of this Deed of Truest 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 :hange the amount of such installments. If under paragraph ig
<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 dare w to the Property prior to the We 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 />s. Praaemndoa well Mah/esaaee of Property; lAseeh". CoattlomYaiaras; Planned Ussft DevetoMsests. Borrower shall leap 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 any lease if this Dad of Trust is on a leasehold. If this Bleed of Trust is on a unit in a condominium or a planned unit development, Borrower
<br />shall perform an of Borrower's obligations under the decimation 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 />{banned unit development ridtT is executed by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such
<br />rider shill be incorporated into and shall amend and supplement the covenants and agreements of this Deed of Trust as it the rider were a pan
<br />hereof.
<br />7. ProoNed" of B.emler's Secwrity. If Borrower fails to perform thr covenants and agreements contained in this teed of 1'r.tst, or if any
<br />action or proceeding is commenced which materially affects Lender's interest in the Property, including, but not limited to, entin•nt domain,
<br />insolvency code enforcement, or artangemenu or proceedings involving it bankrupt or decedent, then lender at Lender's option, urson notice
<br />to Borrower, may make such appearances, disburse such sums and take such action as is necessary to protect Lender's interest, including, but
<br />not limited to, disbursement of reasonable attorney's fees and entry upon the Properly to make repairs. If Lender required mortgage asurance
<br />as a i", idition of making the loan secured by this Dad of Trust, Borrower stall pay the premiums required to maintain such insurance in effect
<br />until such Gore u the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable
<br />law. Borrower &W pay the amount of all mortgage insurance premiums in the manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lentkt pursuant to this paragraph 7, with interest thereon, shall become additional indebtedness of ldsnrower
<br />secured by this Deed of Trutt. UnIng Borrower and lender agree to other terms of payment, such amounts shall he payable upon notice fl-Om
<br />I.ardder to Borrower requesting; payment thereof, and shall bear interest front the date of disbursement at the rate Payable from lure to time cur
<br />outstanding principal under the Note unless payment of interest at such rate would he contrary to applicable law, in which event such amounts
<br />shall bats interest at the highest rate permissible under applicable law, Nothing contained in this Paragraph"' shall rdyuire I ender to u,:ur arts
<br />L expanse or take any action hereunder.
<br />1, haspeYM. Leader may make or cause to he made reasonable comes upon and insmitons III the Property, tit-Ided that 1 ender shall
<br />give Borlower "ice prior to any such inspect idm specifying reaa,nable csmi: therefor related to I tnder's interest in the Proper
<br />9, Con /arneWer. The proceeds of any award tar claim for damages, direct or :onwouenual, in sx,nlaw1on w1th arts :undemnanon „r t•
<br />orifice taking of the Property, or part thereof, or fin convesancr ,n lieu of, , oodrnmal on, are herehy a.sstgned and ,hall he pa,d t:, I enter
<br />In ttk event of a total taking of the Properly, the ptmecds shall tw appl,at u, the ,,one sKUrrd by Ibis Deed of I nw, e nh i hr : secs,, If an,
<br />iraid I .., I1d,rrower In the event of a partial taking of the Pti,I rtiv.:mless Bonowr, and I rndri ,uttct%i,r ,dxrrc .n atmi,ii, "w" ..boil t•e 11'l hr +l
<br />sun, sae -used by this Deed a,f f ru t such 1,10flMdnuq nl the pr,xroei, n,,, rqy IAl !r, :hxf protxutu,n whi,.f) MI 111 —w: _.r :hr „in:, se, ales!
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