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85. 004650
<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 Borrowers 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 fail
<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 />i' 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 />f Funds held by Lender at the time of application as a credit against the sums secured by this Deed of Trust.
<br />3. Aprplieatlorn of Payments. Unless applicable law provides otherwise, all payments received by Lender under
<br />the Note and paragraphs I and 2 hereof shall Ile 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 ofthe Note.
<br />3. Prior Mortgagea cad 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 as Lender
<br />may require and in such amounts and fir such periods as Ixnder nlay require.
<br />1-he insurance carrier providing the insurance shall he chosen by Borrower subject to approval by Lender; provided.
<br />that such approval shall not be unrrasonably withheld. All insurance policies ant; renewals thereof shall be in a form
<br />acceptable to Lender and shall include a standard mortgage clause in favor of and in a firm acceptable to Lender.
<br />Lender shall have the right to hold the policies and renewals thereof. subiect to the terms of any mortgage. deed of trust
<br />or other security agreement with a lien which has priority over this Deed of'I'ru%t.
<br />In the event if lens. Bortower shall give prompt notice to the insurance carrier and tender. [ender may makr proof
<br />of loss it not made prompt ly by Borrower.
<br />If the Property is abandoned by Borrower, it if Borrower iails to nnpond to Lender within 311 dens from rho dare
<br />notice is mailed by Lender to Bortnwet that the insurance tarter oth-,s to settle a claim fill tosurancc benefits. Leudcr is
<br />authorized to collect and apply the insurance proeveds at Lender's option either to restoration or repair of the
<br />Property or tetthe sums w,:ufed tw this Lhcci oi l rust.
<br />6. Prownstiva and Maintenannr of Property; Leaseholds: Condominiums; Planned Unit Developments. Bor.
<br />rower shall keels the Property to go td rep;tir and shall not commit waste or permit impairment or deterioration o1 the
<br />Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. 1100% Deed of '1 -rust is
<br />on a unit in a condomimurn or a planned unit development. Borrower shall perform all of Borrower's obligations under
<br />the declaration or covenants creating or governing the coodnntiniutn ur planned unit dc%elopment, the by -laws and
<br />regulations of the ondominium or planned unit devclopme m. and constituent documents.
<br />7. Peosection of Leader's Sorority. If Botrowct• fails to perform the covenants and agreements contained n1 this
<br />Deed of Trust. or if any action or proceeding is comtnenced which materially affects Lenders interest in the Property.
<br />then lender, at Lender's option. upon notice it, Borrower, may make such appearances, disburse such sums. including
<br />on
<br />reasable attorneys' lees. and take such action as is necessary to protect Lender'% interest. If lender required mortgage
<br />insurance as a c :edition tit making the loan seeurud by this Mod of -f rust, 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 wills
<br />Borrower's and Lender's written agreement of applicable law.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7. with interest thereon. at the Note rate, shall
<br />become additional indebtedness if Borrower secured by this Deed of 7 -rust. Unless Borrower and Lander agree to
<br />other terms of payment, such amounts shall be payable upon notice from Lender to Burrower requesting payment
<br />thereof. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder.
<br />A. Impart -thw. Lender may make or cause to he made reasonable entries upon and inspections of the Propertc.
<br />provided that lender shall ,give Borrower notice prior i o any such inspection specifying reasonable cause therefor
<br />related to Lenders intent in the Property.
<br />9. Co odaaraatha. The pnxeed% of any award or claim for damages, direct it cltnsequctmAl. in connect with
<br />any condemnation or other taking of the Property, or part thereof, er for conveyance in lice of condemnation, are
<br />hereby assigned and shall be paid to Under, subject to the terms of any mortgage. decd of trust or other security agree-
<br />ment with a lien which has priority over this Deed of 'Trust,
<br />10. " owes Plot Rebtned; Forbwtramv By !.ender Not a Waiver. I-Alension of the time for payment or
<br />modification of amortization of the sums secured by this Lhcd of `i-rust granted Its; Lender n+ any seleceuor in interest of
<br />Borrower shalt tux operate au refea r., in any manner, the liability of the original Horrowes and Borrower'% %u :ccs%or% in
<br />L intermt- Lender shall roil be required to commence pro+cccdings against such succr%%or or tviu%e to estend time to? ins .
<br />tacol or otherwise modify amortization of the sums wound by this IN-ed (it trust by reyson of any demand made ley the
<br />anginal Borrower anti Borrower's succe%u)n in interest. Any brhearance by Lender in exercising env right m rvntcdo
<br />hMIJulder. or rNfterwive Afforded by applicable law, shall not le it waincr of or preclude the eyercisr. of any such t Ight it
<br />rrrtrvdy.
<br />11, Suceveseo n and Anftm Beuudi Joint and Several Liability: Co- ditnen. Ill r .:rn,rnts ,nut ay :,'en1<ni,
<br />herein o nliiine*tl %hall bioal- and the tight% herruncicr shall more lo. the rV,prcitsr ,ucec,ti,vs .Ind a";c;1s „I I ender .end
<br />Ii,trr +jiver• tus,r, i to the ptoi"t,m% of paragraph 1(t iicte+tl Ali i'ieenanfv and .ty rremrnt=. , I it..t........ .1'.111 br I"aro .111,11
<br />,a-reral %hv Hurn,wcr who ear -sign, tats Derd if f ors! —Al does rat raertUc th" Na,rc ix s 1, , o wnmq the. Owed :,t i r u.r
<br />*vd} tggtnnt our? "'To'.., ttott If, r- -r s intrreat on the i'n+;N; ttv h, f ro +l, :n• ,cocky It'. ••t the. 1 0 'rte,! .,
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