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<br />applicable law fegpires 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 trade. 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 dux, 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 Funds 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. AppliaBw of PsyssaNa. 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 Lender by Borrower tinder 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. CMrga;1,11m. Borrower shall pay all taxes, assessments and other charges, fines and impo••dtions attributable to the Property which
<br />may attain a priority over this Iced 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 dux under this paragraph, and in the event Borrower shall make putyment 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 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 pan thereof.
<br />S. Hsaard losrfmce. 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 Leader 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 unarrasoarlobly withheld. All premiums on insurance policies shall be paid in the manner provided under paragraph 2 hereof or, if not
<br />paid In %ttih manner, lav Borrower making payment, when due, directly to the insurance carrier.
<br />Aka it warave polsiocts and renewals thereof shall be in form acceptable to lender and shall include a standard mortgage clause in favor of
<br />and leas ! of- t aaA e, i Lend", Lender shall have the right to hold the policies and renewals thereof, and Borrower shall promptly furnish to
<br />I c esfee W • is sand all receipts of paid premiums. In the event of loss, Borrower shall give prompt notice to the insurance carrier and
<br />1 cn k4€ 1 €z a4 psrevA of kass if not made promptly h> Borrower.
<br />a cm ,d llaaarrmw otherwise agree in %rating, insurance proceeds shall be applied to restoration or repair of the Property
<br />See t: A maastoratialan or repair is economically feasible and the security of this Deed of Trust is not thereby impaired. If such
<br />rnlosa€Km v:- Persian, . eco•ollsomically feasible or if the security of this Deed of Trust would be impaired, the insurance proceeds shall be
<br />app6c,,J :c, she isuaaa,4 ecvscod by this Deed of Trust, with the excess, if any, paid to Borrower. If the Property is abandoned by Borrower, or if
<br />ikirrower seal+ to rtspeand to I.cnkkr within 30 days from the date notice is mailed by Lender to Borrower that the insurance carrier offers to
<br />aortic a oaten tot maurarive benefits. Lender is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or
<br />report of t'te Property or to the sums sectored by this Deed of Trust.
<br />r. nless Leader and Borrower otherwise agree in writing, any such application of proceeds to principal shalt 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, tick and interest of Borrower in and to any insurance policies and in and to the proceeds
<br />thereof resulting from damage 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 Trust immediately prior to such sale or acquisition.
<br />6. Preaarrstles as/ MsNtleconce of Properly; Laseeholds; Coadomialums; Plao sell Unit D eareloposesu. 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 lase if this Deed of Trust is on a leasehold. If this Died of Trust is on a unit in a condominium or a planned unit development, Borrower
<br />sW 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 reguluions 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 pan
<br />hereof.
<br />7. Protection of lada►'s Sorml y. If Borrower fails to perform the covenants and agreements contained in this Deed of Trust, or if any
<br />action or proceeding is commenced which materially affects Lender's interest in the Property, including, but not limited to, eminent domain,
<br />msobency, code enforcement, or arrangements of proceedings involving a bankrupt or decedent then lender at Lender's option, upon notice
<br />W 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 Property to make repairs. If Lender required mortgage insurance
<br />as a condition of making the loser secured by this Deed 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 r applicable
<br />law. Borrower shall pay the amount of All mortgage insurance premiums in the manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Leander pursuant to this paragraph 7, with interest thereon, shall become additional indebtedness of Borrower
<br />secured by this Deed of Trust. Unless Borrower and lender agree to other terms of payment, such amounts shall be payable upon notice from
<br />I- eradcr to Borrower requesting payment thereof, and shall bear interest front the date of disbursement at the rate payable from time to time on
<br />.wtstarding principal under the Noe unless payment of interest at such talc would he contrary to applicable law, In which event ouch amounts
<br />shaft bar interest at the highest rate permissible under applicable law. Nothing contained in this paragraph 7 shall requife I ender tia incur any
<br />expense cx sake any action hereunder.
<br />I. 1 0 "'n. Lender may make or cause to be made reasonable entrsr% upon and inspections of the Property, provided that I ender dtatl
<br />Pc lr Borrower notice prior to any such inspection specifying neaaORANC cause Iherclor related o I cnder's Interest in the Property.
<br />4, C:aNewWra. The proceeds of any award err claim for damages. Jirect or consequential, in connttlio t 141111 ally condemnation or
<br />;*4hcr tak ant of the Property. on part thereof, or for conveyanec in heu of condcrimmion. arc hcrchv assigned And 'halt he paid to 1 ender
<br />to the event of a tonal taking of the Property, the proceed, %half be applied to the cunt, c <urcil by this Ihed o` i I1ISt, wish the excel,. It arts.
<br />p�.J <o Wnlower In the cvtot of a partial taking of the Ptoperly, Italic„ Motrowet .Ind t ender „theratse aµrcc u+ wr.tiap_. O'Cl .1'.31 he Ir phcd
<br />:IK soma a,%urrol hs this Lined of Trutt such ramporrion of the It,- "Ii, a, ,, v u., r., That whi.l •i: .nJWI;1.: ,flc I!, le. wt."
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