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00-- vv120 :1 a If Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or state agency (including Lender if Lander is such an institution). Lander shall apply the Funds to pay said taxes, assessments, insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account or verifying and compiling said assessments and bills, unless Lander pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this Deed of Trust that interest on the Funds shall be paid to Borrower, and unless such agreement is made or 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 Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. 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 taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes, assessments, insurance premiums and 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 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 due. Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as Lender may require. Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any Funds held by Lender. if under paragraph 17 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. Application of Payarents. Unless applicable law provides otherwise, all payments received by Lander under the Note and paragraphs 1 and 2 hereof shall be applied by fender first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof. then to interest payable on the Note, and then to the principal of the Note. J. Prior Mortgages and Deeds of Trust; Charges; Liens, Borrower shall perform all of Borrower's obligations under any mortgage, deed of trust or other security agreement with a lien which has priority over this Deed of Trust. including Borrower's covenants to make payments when due. Borrower shall pay or cause to be paid all taxes. assessments and other charges. tines and impositions attributable to the Property which may attain a priority over this Deed of Trust, and leasehold payments or ground rents. if any. S. Hazard Insurance. Borrower shall keep the improvements flow existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage ". and such other hazards as lender may require and in such amounts and for such permmts as lender may require. '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 insurance policies and renewals thereof shall be in a titan acceptable to Lander and shall include a standard mortgage clause in favor of and in ,I filrm acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, subject Io the terms of any mortgage. decd of trust or other security agreement with a lien which has priority over this Decd of Trust. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lcnder. Lender man- make proot of loss if not made promptly by Burrower. If the Property is abandoned by Burrower. or if Borrower fails to respond to Lender mthin lit days from the date notice is mailed by lender to Borrower that the insurance carrier olicl's to settle a claim htr inslo an.c hcnvfits. ixn<jer 1, authorized to collect and apply the insurance proceeds at Lcnder', option cithet to restoration 111 repair of ncc Property or to ilie suns secured by this Deed of Trust. 6. Preservation and Maintenance of PnWrty; Leaseholds; Condominiums; Planned Unil Developments. Bor rower shall keep the Property in good repair and shall not conun11 waste or permit impairment or deterioration of flit- Property and shall comply with the provisions litany lease If this Decd lit Trust is on a A•aschold. It this Decd of Trust is on a unit in a condominium or a planned unit olevelopmcnt, Borrower shall pertimn all of Borrower's obligations under the declaration or covenanh creating or governing the condlunintun, or pLi ned unit development. the hy•faws and regulations of the condominium or planned unit development, and constituent dtxvments. 7. Protection of Lender's Security. If Borrower fails to perlornt the covenants and agrcen,euts contained in Ibis Decd of Trust, or if any action or proceeding is commenced which materially affccls Lcnder', interest it, the 11roperty. then Lender, at Lender's option, upon notice to Borrower, may make such appearances. disburse such sums. including reasonable attorneys' pees, and take such action as I% necessary to protect Larder's interest. It lender required mortgage insurance as a condition of making the loan secured by this Deed of Trust. Borrower shall pay the premiums required to maintain such insurance in effect until such tittle as the requirement for such insurance terminates in accordance with Borrower's and Lender's wriltctn agreement or applicable law. Any amounts disbursed by Lender pursuant trt this paragraph 7, with interest thereon, at the Now rate, shall b" one additional indebtedness of Borrower secured by this Decd it 'f rust. Unless Borrower and tender agree to other terms of payment, such amounts shall be payable upon notice Iron, Vender to Borrower requesting payment thereof. Nothing contained in this paragraph 7 shall require lender to incur any s spx nsc or take any action hcrcundcr. ll, Inapsction. Lender may make or cause to be made reasonable entries upon and nspections Of tilt- Property, provided that lender shall give Borrower notice prior to any such inspection specifying to :sonad,le cause therefor related to Lautfer's interest in the Property. •. Candess"Ifon.'The proceeds of any award or claim for d:unages, direct ill. eonscqucnual. in cnnncctton with any condemnation rr other raking tit' the Property, or part thereof . or for conveyance n, lieu of condemul,#1 on . arc hereby assigned and %hall be paid to Lender, subject io the terns of any mortgage, decd of frost or other wcurifv agree mast with a lien which has priority over this Deed tit Trust. iS. pwrowar %@1 Nak A*df Forbeoranee By Lender Not a Walter. V%ten%ion of file rules' f,+r payrn nl or modification of amtsrtitaiion of the sums secured by this Deed of Trust granted by Lcntler ht'Ink successor m mlcrlsf .,t I Borrower shall not operate ro release, ill any manner, the liability ut file original Borrower and Horlowel ,, %ut l'wHnrti III inferext, lender shall not be required to commence prlccedutgs against such %lie es Nor or rlfint• to cyn•nd flirt for peso ment tit olherwrsr modify amortization iif the sums secured by this heed of Il'ost In reason of any denl,ultl r,l,ull 11, the IrigniAl Btrrowe.r and Borrow'eF 4 41ft CC'441Irs Ill Inferesf. 1kf1y forbearance hl I emict 111 cyrn fs11la ens right la 1rmr,tt firreonter, it otberwise afforded hY Npp'llfa able law, %hall not he a w,11Yt'1 „i „r pr't•clmdt• flit' Ihtllt'lal• „r .7111 \11, 11 1lk,ht „r rcmcaly 11, Swerraars and Amigm Ncwndt Joint and Seirral HahiiNV; ( v simile 1, f 11, ,,•t: n ,l ;, ,,,,,1 ,Ire, ; r1; nl, horn" i "ol'otw't sl;all huuf..old tilt' uglos ht•r'o11drr %14111 1111111 1+,, till- lv'j , h+ .u,.. ss,n, .IS,�I 1,•11, I : -h Ifoll"Ya"r auhjrl 13 -, Itl1 pf„s iolnn4 „f ptAragtaph Ili ll-!Ivi't All 1n%rll. tills fn;f na;CC, rl � ill. ;i „1,• :,: 1 ,- I •1,:, ,,ml � a; v: c•aq a -,ai ki” tt.rrt,.,.•-r wh< i, .Ixv, (111'. 1)t-rd nt I ttisl, hill III—' n,lY race of t,' 1h, '44,- , ytAW .r H .,. 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