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v� VV4'tf�D <br />applicable law requires 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 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 praniums and ground rents, shall exceed the amount required to pay sai,;i 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 fail 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 fall 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 sak 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 Dosed of Trust. <br />3. ApNeadaa of Tayments. 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 under 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. Ckwglas; Lim. 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 payvmcnts 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 Leader 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 she lien or forfeiture of the Property or any part thereof. <br />S. Ha=rd lmaweem. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by tire, <br />hazards included within the tam "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 chat the amount of such coverage exceed that amount of coverage required to pay <br />the sums secured by this Dead of Trust. <br />The insurance carrier providing the insurance shall he chosen by Borrower subject to approval by Lender: provided, that such approval <br />shall not he unreasonably withheld. All premiums on insurance policies shall be 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 />Leader 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 tray make proof of loss if not made promptly by Borrower. <br />Unless Leader and Borrower otherwise agree in writing, insurance proceeds shall he 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 bewflu, 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 sums secured by this Deed of Trust. <br />Unless Lender mid 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 Lender, 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 sak or acquisition. <br />6. rlfswvsdm sail hiMmiw of may; Lessehotde; Condominium. Planned Unit Devellopseents. Borrower shall keep the <br />Property in good repair and shall cwt commit waste or permit impairment or deterioration of the Property and shall comply with the provisions <br />of any ken if this Deed of Trust u on a leasehold. If this Deed of Trust 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 />doe iopmesat, the by-laws and regulations of the condominium or planned unit development, and constituent documents. 1f a condominium or <br />planned writ 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 part <br />hereof. <br />7. Protection sof iMgw's Security, if Bo rower fails to perform the covenants and agreements contained in this Deed of "Trust, or if any <br />sArtm or proceeding is commenced which materially affects Lender's interest in the Property, including, but not limited to, eminent domain, <br />in"vmcy. code enforcomur at, or arrangements or proceedings involving a 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 />rue hmated to, daburnise tit of reasonable attorney's fees and entry upon the Property it, make repairs, if Lender required mortgage insurance <br />as a condition of making the Bart sectored by this Dead of Trust, Borrower shall pay the premiums required to maintain such insurance to 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- Norrpteer SW pay the amotant of all mortgage insurance prom tums in the manner provided under paragraph 2 hereof. <br />Any amounts disbursed by Lender pursuant to this paragraph', with Interest thereon, shall become additional indebtedness of Borrower <br />secured by this Deed of Trust. Unions Borrower and Lender agree to other terms of payment, such amounts shill he pavable upon notice from <br />Lender to Borrower requesting payment thereof, and shall hear interest froln the date of disbursement at the rare payable frorn time to time on <br />outstanding principal wader the Note unless payment of interest at such rate would he contrary to applicable law, in which event such amounts <br />sha it hear mtertst at the highest rate permiwible under applicable law. Nothing contained in this paragraph 7 shall require Leader to incur anv <br />expanse Of take any action hereunder. <br />a. hrgastMC Leander may MMe or cause to be made reaxmabfe errtrtes upon sl , inaptcttons of the Property, provided that Lender shall <br />give B,rrtmr notice prior to any such Inspection spevifying M11011abit roust therefor related to L.rnder's interest In the Property. <br />6. (atdomma"n• The proceeds of any award or claim Jig damages !brat or consequential, In ,onnecoon with my rondetnnation or <br />Other taktryt of the Property, of pu t therm(, or lot conveyance u °u of m. r. <br />arc hereby asstgntd and shall he i std to Lender. <br />In the event of a tofal taking of Ilse Property, the proceeds shall to appind the lurns .r_ured by Ih:e Ikea oo Trust, N1111 the chest, a arly, n <br />tvcrd to Bcxrowtv fn flit event of a partial taking of the Pmptrty, uton,% It ,:r +sues and I ender ;nher wtw agree m Nolen!. +hcle ;hall h <br />„ rtsa ,,urns c«cut col by atria Deed of Tfuse such V' oPornon of the pr;n_rrJ+ i r, ettaai _ ,tier: pr�.;w,ru +n whi h ,hr ur, vul : ! Ihr .gun+ .cru rd <br />M <br />