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<br />$5- 004786
<br />applicable lav{ requires such into. tot to be paid, Lender shall not be required to pay 1kirrower any interest or earnings on the Funds. Lender shall
<br />give to IlOrtower withbut charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which eacl, .
<br />debit to the Funds was trek. The Funds are pledged as additional security for the sums secured by this Decd 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 fail due, 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 18 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. ApYeasloa of Pyasasla. Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs 1
<br />and 2 hereof shall be applied by Leader first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof, then to interest
<br />pavable on the Note, then to the principal of the Note, and then to interest and principal on any Future Advances.
<br />6. Cbergatc; Liles. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which
<br />may attain a priority over this Deed 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 due under this paragraph, and in the event Borrower shall make payment 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 [Wanner 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. Hazard Insurance. 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 Lender shall not require, that the amount of such coverage exceed that amount of coverage required to pay
<br />the sums secured by this Deed 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 unreasonably withheld. All premiums on insurance policies shall he paid in the manner provided under paragraph 2 hereof or, if not
<br />paid in such manner, by Borrower making payment, when due, directly to the insurance carrier.
<br />All 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 />Lender. Lender may make proof of loss if not made promptly by Borrower
<br />Unless Lender 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 sums 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 fails 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. Leader is authorized to collect and apply he insurance proceeds at Lender's option either to restoration or
<br />repair of the Property of to the sums secured by this Deed 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 paragraph 18
<br />hereof the Property is acquired by tender, all right., title 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. rraervatlou said blainssuaaI of Property; Leasebolds; C'oadovalelarea; Pleased Ualt Develoineats. 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 lease if this Deed of Trout is on a leasehold. If this Deed of "I "rust is on a unit in a condominium or a planned unit development, Borrower
<br />shall 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 regulations 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 ire incorporated into and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider were a part
<br />hereof.
<br />7. Pro4ctlar of Ladle's 9eraflry. If Borrower fails to perform the cosenants and agreements contained in this Deed of trust, or if any
<br />action or proceeding is commenced which materially affects l ender'< interest in the Property, including, but not IimiieJ to, enunent domain,
<br />insolvency, code enforcernetrt, or arrangements or proceedings involving it bankrupt or decedent, then Lender at Lender's option, upon notice
<br />to Borrower, may make such appearances, disburse such sums and take such action as is necessary to protect Lender's interest, including, but
<br />nor limned to, disbursement of reasonable attorney's fees and entry upon the Property in make repairs. If Lender required morlgage insurance
<br />as o corrdtiort of soaking the loan soured by this teed of Trust, Borrower %hall 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 or applicable
<br />law. Borrower shall ay the amount of all mortgage insurance premiums in the manner provided under paragraph 2 hercot .
<br />Arry amounts disbursed by Lender pursuant to this paragraph ?, with interest thereon, shall hcconne 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 />Lender to Borrower requesting payment thereof, and shall bear interest from the date Of dnburwrttenl at the late payable lrom little to lime nn
<br />outstanding principal under the Note unless payment of interest at ouch rata would he contrary to applicable Iaw, in which event such amounts
<br />+hall hear interest at the highest rate permissible under applicable Iaw. Nolhutg contained lit Ins paragraph , shall require I cnde! to incur any
<br />CApert4e Of take any actwo hereunder.
<br />11. IsgaeWS. Lender may make or cause to he trade teasonable ctiuies upon and mspection.v of the Property, provided that I ender shall
<br />rtivc 1lcarower notice prior to any such inspection :tpaitving reasonahle rauw thetcfoi related to Lender's interest In the Ptolmi ty.
<br />0, Ct rMaaaaHoa. fee proceeds of any award or dlann i„r .larnagc" Sues .v o >r,scqucnnal. nt ;smnr, tom »1111 .W, ,an.trnmau „n ,,.
<br />r.rthrr taking ot'the Property, of part thrranl, or not conveyance in ireu of , orldemn'toon, etc hetchy ussrgned all,d shah hr s'ar'i f o 1 en,;cr
<br />In the cvena of A lace] takirtgaf the I'ra.rperry. Ise prxrads shall tee any >bCO to the u;nis Cculcd by ttue lured :a fr,;,r. ,yul, !tor laic•,., .t io, .
<br />t-4 rn Brtr -in, Ire the event of a Palo*] taktna of Ion Proper•,, ,n.irc. ftur.,rwer, n;,,l I renter a,111,rAl:v extra n...,•n g th, c •nail hr sill'..,
<br />', ,t„° . ;n , .tr.w rvl ht this ].kxJ lit tao�? ,u.h prol -Moll ,t th, rrn�. r., ,n •• -,i ;, 'hs' n,r.`t- "4, n ;!:,. , .., �' „ .c �:01!1 11 %,r: .'.
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