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0044.4.9
<br />appBpbk kw such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall
<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 bald by Leader, together with the future monthly installments of Funds payable prior to the due dates of taxes,
<br />assmamU, insurance presses and pound rents, shall exceed the amount required to pay said taxes, assessments, insure= premiums and
<br />ground rents as they fall due, such exam shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly
<br />instalbnemb of Fnttds. If the amant of the Funds bold by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and
<br />around raw 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 [.ender to Borrower requesting payment thereof.
<br />Upon paynneat in hull of all sums aecured by this Deed of Trust, Lender shall promptly refund to Borrower any Funds held by Lrnder. If
<br />under paragraph I hKwf 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. Ag+weefitw of Payasnea. Unkss applicable law provides otherwise, all payments received by Lender under the Note and paragraphs I
<br />and 2 hereof shall be applied by Leader 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 amt mrrr"M on any Future Advances.
<br />d. Chown; Lims. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to rise Property which
<br />may attain a priority over this Deed of Truest, and leasehold payments or ground revs, 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 shalt make
<br />payment directly. Borrower shag promptly
<br />furnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Dad of Trust;
<br />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
<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. Howl Insaraaes. 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 be chosen by Borrower subject to approval by Leader; provided, that such approval
<br />shall not be unreasonably whhbeld. All premiums on insure= 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 />Ali 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 />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 />Leader. Lerida may make proof of toss if not made promptly by Borrower.
<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 not economically feasible or if the security of this Deed of Trust would be impaired, the insurance proceeds shall be
<br />applied to the stmt 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 faits 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 arms secured by this Dad 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
<br />hereof the Property is acquired by Lender, all r paragraph I s
<br />iglu, title and interest of Borrower in and to any insurance policies and in and to the proceeds
<br />thereof reaukiag from damW to the Property prior to the sale or acquisition shall pass to Lender to the extent of the sums secured by this Deed
<br />of Taut imseedistaiy prior to such sale or acquisition.
<br />i. trvessit an sad 11 allNsaaare of Proprty; Leweiolda; Condesslaiatar Pleand Usk Developtnb. Borrower shall keep the
<br />Property in pod repair sad Shull not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions
<br />of any Nast if this Dead of Trust is on a leasehold. If this Deed of Trust is on a unit in a condominium or a planned unit development, Borrower
<br />SW perform AN of Borrower's obligations under the declaration or covenants creating or governing the condominium or planned unit
<br />deveiopawat, the by -laws and resulalkes of the condominium or planned unit development, mud constituent documents. If a condominium or
<br />plan sled tail dewlopaweit rider is executed by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such
<br />ride shall, be incorporated into and Shall amend and supplement the covenants and agreements of this Dad of Trust as if the rider were a pan
<br />hereof.
<br />7. PIOM of Leaders gawky. If Borrower fails to perform the covenann and agreements contained in this Deed of Trust, or if any
<br />action of proceeding is commenced which materially effects Lender's interest in the Property, including, but not limited to, eminent domain,
<br />insolvency. code enforcenwm. or arraryamlmb or proceedings involving a bankrupt or decedent, then Lender at Lender's option, upon notice
<br />eo Borrower. may taake such appearances, disburse such sums and take such action as is necessary to protect Lender's interest, including, but
<br />not Nsaked to. dwbursamau of reasonable attorney's fees and entry upon the Property to make repairs. If Leader required mortgage insurance
<br />ere a condition of mokhtg the loan secured by this Does! of Trust. Borrower shall pay the premiums required to maintain such insurance in effect
<br />until Such time as the requiremem for such Insurance terminates in accordance with Borrower's and Lender's written agreement or applicable
<br />law. Borrows slate pay theatnotmt of all morlgye insurance premiums in the manna provided under paragraph 2 hereof.
<br />Any arrows disbursed by Leada- pureuart to this paragraph 7, with interest thereon, shall becomr additional indebtedness of Borrower
<br />sawed by this DOW of Trust. UnIm Borrower and Lender agree to other terms of payment, such amounts shall be payable upon notice from
<br />Lauds to Borrower roquutiag payment thereof, end shall bar interest from the date of disbursement at the rate payable from time to time on
<br />oubsastle g principal under the Next u nim psymet of interest at such rate would be contrary to applicable law, in which event such amounts
<br />Slab bow Waste w the highest rate peradteible under applicable law. Nothing ontained in this
<br />a paragraph 7 shall require Lender to incur any
<br />expense err take any aetim herander.
<br />L kepwffaa. e«taes may make of cause to be meek reasonable entries upon and inspections of the Property, provided that !.ender shall
<br />It" Borrower nonce prior to MY such Jnaprrclloa specifying reasonable cause therefor related to Lender's interest in the Property.
<br />9. CaaMs•Mraa• The proeaeds of any award or claim for damages, direct or consequential, in connection with any condemnation or
<br />Other taking of the Property, or put thereof, of (oat conveyance in lieu of condemnation, are hereby asugned and shall he paid to Lender.
<br />In the event of a total lakirng of the Property, the proceeds shall l+e applied to the sums secured by this Deed of Trust, with the excess, if am,
<br />paid to Borroway. In the event of • partial taking of the Property. untess Borrower and Lender otherwise agree in writing, there shall he applied
<br />to the sums secured by this Deed of Trust such proportion of the proceeds as is equal to that proportion which the aunoutu .,I the scum ,muted
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