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85-- 004471
<br />If Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of which are
<br />insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply
<br />the Funds to pay said taxes, assessments, insurance premiums and ground rents. Lender may not charge for so holding
<br />and applying the Funds, analyzing said account or verifying and compiling said assessments and bills, unless Lender
<br />pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender
<br />may agree in writing at the time of execution of this Deed of Trust that interest on the Funds shall be paid to Borrower,
<br />and unless such agreement is made or applicable law requires such interest to be paid, Lender shall not be required
<br />to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge. an annual
<br />accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was
<br />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
<br />the due dates of taxes, assessments. insurance premiums and ground rents, shall exceed the amount required to pay said
<br />taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option,
<br />either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the
<br />Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall
<br />due, Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more. payments as Lender
<br />may require.
<br />Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any
<br />Funds held by Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by
<br />Lender. Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any
<br />Funds held by Lender at the-time of application as a credit against the sums secured by this Deed of Trust.
<br />3. Application of Payments. Unless applicable law provides otherwise. all payments received by Lender under
<br />the Note and paragraphs i and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by
<br />Borrower under paragraph 2 hereof, then to interest payable on the Note, and then to the principal of the Note.
<br />4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations
<br />under any mortgage. deed of trust or other security agreement with a lien which has priority over this Deed of Trust.
<br />including Borrower's covenants to make payments when due. Borrower shall pay or cause to be paid all taxes.
<br />assessments and other charges, fines and impositions attributable to the Property which may attain a priority over this
<br />Deed of Trust, and leasehold payments or ground rents, if any.
<br />S. Hazard insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage ". and such other hazards is Lander
<br />may require and in such amounts and for such periods as lender may require.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided.
<br />that such approval shall not be unreasonably withheld. All insurance policies and renewals thereof shall be in a form
<br />acceptable to Lender and shall include a standard mortgage clause in favor of and in a form acceptable w (under.
<br />Lender shall have the right to hold the policies and renewals thereof. subject to the terms of any mortgage, deed of trust
<br />�.
<br />or other security agreement with a lien which has priority over this Deed of Trust.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof
<br />of loss if not made promptly by Borrower.
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<br />If the Property is abandoned by Borrower, or if Borrower Fails to respond to Lender within ,iays from the date
<br />notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits. Lender is
<br />authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the
<br />Property or to the sums secured by this Deed of Trust.
<br />6. Ptresmatlon and Maintenance of Property; Leaseholds. Condominiums; Planned Unit Developments. Bor-
<br />rower shall keep the Property in gaol repair and shall not commit waste or permit impairment or deterioration of the
<br />Property and shall comply with the provisions of any lease if this Decd of Trust is on a leasehold. If this Deed of Trust is
<br />on a unit in a condominium or a planned unit development. Borrower shall perform all o1' Borrower's obligations under
<br />the declaration or covenants creating or governing the condominium or planned unit development, the by-laws and
<br />regulations of the condominium or planned unit development, and constituent documents.
<br />7. Protection of Lender's Security. If Borrower Fails to perform the covenants and agreements contained in this
<br />Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Property,
<br />then Lender. at Lender's option. upon notice to Borrower. may make such appearances. disburse such sums. including
<br />reasonable attorneys' fees, and take such action as is necessary to protect Lender's interest. If lender required mortgage
<br />insurance as a condition of making the loan secured by this Deed of Trust. Borrower shall pay the premiums required to
<br />maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with
<br />Borrower's and Lender's written agreement or applicable law.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7. with interest thereon. at the Note rile. shall
<br />become additional indebtedness of Borrower secured by this Dowd of Trust. Unless Borrower and Lender agree to
<br />other terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting payment
<br />thereof. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder.
<br />•. Imprdw. Leader may make or cause to be made reasonable entries upon and inspmctions of the Property.
<br />provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor
<br />related to Lender's interest in the Property,
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with
<br />any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are
<br />hereby assigned and shall be paid to Lender, subject to the terms of any mortgage, deed of trust or other security agree•
<br />ment with a lien which has priority over this Deed of Trust.
<br />N. Nrnwer Net Released; Forbearance By Lender Not a Waiver. I- xicosion of the time fiir payment or
<br />modification of amortization ofthe sums secured by this Deed of'frust granted by Lender to any successor in interest of
<br />B
<br />L Borrower shall trot operate to release, in any manner, the liability of the original Borrower and Borrower's successors in
<br />interest. Lender shall not be required to commence proceedings against such atcccssor or refuse to extend time for pay•
<br />ment or otherwise mortify amonization of the sums secured by this Deed of Trust by reason of anv demand made by the
<br />original Borrower ales Borrower's successors in interest. Any forbearance b I.et,der in exercising any right or remedy
<br />hereunder, or otherwise altnrded by applicable law. %hail not ie a waiver of or preclude the exercise of ally such right or
<br />remedy.
<br />i1. Sureessen and Aselitiva Bound; Joint and Several Liability; t'o• signers. [tic rotcnanh and ;igicenunts
<br />herein contained shall bind, and (tic rights hereunder shall inure to. the respccficc successors and a.sigus „f Lelidcr and
<br />Borrower, subject to the provisions of paragraph Ib hereof. All owrti mts and agreements of fim im%cr swell hr joint and
<br />several. Any Borrower who co -signs this deed of'I'rust. hilt dm% not execute i he Nine. (a) is,,- sipmng i his Ih•ed oa I t ust
<br />only to grant and wove.• that Born,wcr's inieresl in the PropKrly In frustcr under the terms nl ih%s 1 h c l „t I i ust d0 t,
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