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(. 4 85-004233
<br />appficabe'Iaw requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. lender 3hatl
<br />give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each
<br />debit to the Funds was made. 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 />assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes, assessments, insurance premiums and
<br />ground rents as they fall due, 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 rents 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 F•rids held by Lender. 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. ApptlatlN of Paymnfa. Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs I
<br />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
<br />payable on the Note, then to the principal of the Note, and then to interest and principal on any Future Advances.
<br />/. Chargaa, Liens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which
<br />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
<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 hen so long as Borrower shall agree in writing to the payment of the
<br />obligation secured by such lien in a manner acceptable to Lender, 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. Hasad lawsraaee. 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 Lender 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 be chosen by Borrower subject to approval by Lender; provided, that such approval
<br />shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner provided under paragraph 2 hereof or, if not
<br />paid in such manna, 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 :cause 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 />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
<br />Lender. Lender may make proof of loss if not made promptly by Bo: rower.
<br />Unless Lasder 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 not economically feasible or if the security of this Deed of Trust would be impaired, the insurance proceeds shall be
<br />applied to the sums s cured 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 appiy 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 i and 2 hereof or change the amount of such installments. if under paragraph 18
<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 damage to the Properly prior to the sale or acquisition shall pass to Lender to the extent of the sums secured by this feed
<br />of Trust immediately prior to such safe or acquisition.
<br />6. Prraertrados mW MakNnua of Property; Ltewholds; Casdomdrnu; Plassed Unit Develops"Is. Borrower shall keep 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 ease if this Deed of Trust is on a kasehold. If this Deed of Trust is on a unit in a condominium or a planned unit development, Borrower
<br />shall perform all of Borrower's obligations under the declaration or covenants creating or governing the condominium or planned unit
<br />development, the by -laws and regulationa of the condominium or planned unit development, and constituent documents. If a condominium or
<br />planned unit development rider is executed by Borrower and recorded together with this Deed of Trust, the covenants and .agreements of such
<br />rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider were a part
<br />hereof.
<br />7. Prokarden of LeMer's Saertrffy. If Borrower fails to perform the covenants and agreements contained in this Deed of Must, or if any
<br />action of proceeding is commenced which materially affects Lender's interest in the Property, including, but not limited lo, eminent domain,
<br />insolvency, code enforcement, or arrangements or proceedings involving it bankrupt or decedent, then Lender at Lender's option, upon notice
<br />to Borrower, may make such appeararca, 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 envy upon the Property to make repairs. If Lender required mortgage insurance
<br />m a condition of making the loan secured by this feed of Trust. Borrower shall pay the premiums required to maintain such insurance in effect
<br />until such time as 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 diabursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional indebtedness of Borrower
<br />secured by this Doted of Trust. Unless Borrower and Lender agree to other terms of payment, such amounts shall he payable upon notice from
<br />Lender to Borrower requesting payment thereof, and shall bear interest from the date of disbursement at the rate payable frum time to time on
<br />outil6andirg ptincipal under the Note unless payment of interest at such rate would he contrary to applicable law, in which event such amounts
<br />shall bpi interest at the highest rate perminible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any
<br />expense of take any itaim hereunder.
<br />L S. LsapaesiM. Lender may matte ot caul" to be made reasonable entries upon and ulspeitlons of the Propretty, provided that l coder shall
<br />give Borrower notice prmr to any such inspection specifying rrasonable cause tfrerefor related to Lender's interest in the Iholtrtty lat
<br />'. f:wstdaaaatlsa. the p toceads of any award or claim for damages, dim t or consequemial, nt connrcuon with am :oIldcomallon or n
<br />nthv tatting of tote Property, or part Ibereol. der fix conveyance 111 lieu of c„nstcoinaoion, are hereby assiHtied and sliali be paid to l rnslet to
<br />In the "Ilml of a total taking of the Property, the pro Beds shall be applied t„ the sums secured by this Dycfti t,I I rust, with the rxicss. it ar4.
<br />v.
<br />tvo a, litxrvwa In the event of a partial taking of uhf PtOlstfly, Unlesa Iiarnowet and I cndrr otherwise dytee HE .1 11111R. Oloe .hap N,
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