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8..004842
<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 Inadl: 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 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 suns 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 feed of Trust.
<br />3. AMrMead" of Payments. Unless applicable law provides ihrrwser, all payments received by Lender under the Note and paragraphs L
<br />and 2 hereof shall be applied by lender first in payment of am,wril, ; a +a ^k to l ruder by Borrower under paragraph 2 hereof, then to interest
<br />payable on the Note, then to the principal of the Note, and the{. •,s ,i ^.a xf ,,. wrw principal on any Future Advances.
<br />1. Charts, Lima. Borrower shall pay all taxes, assesa?r rB isr :'sarges, fines and impositions attributable to the Property which
<br />may attain a priority over this Deed of Trust, and leasehold paavr: a = x =.s ltd ants, if any, in the manner provided under paragraph 2 hereof
<br />or, if not paid in such manner, by Borrower making payrtcr »? , , 1,rII try to the payee thereof. Borrower shall promptly furnish to
<br />Lender all notices of amounts due under this paragraph. an.' e r,ei,t tkurower shall make payment directly, Borrower shall promptly
<br />furnish to Lender receipts evidencing such payments. Borrower u; :ai ; + ^,xrptiv discharge any lien which has priority over this Iced of Trust;
<br />provided, that Borrower shall not be required to discharge atn t..h ;,r., .,, iong 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 ;n p x d faith contest such lien by, or defend enforcement of such lien
<br />in, legal proceedings which operate to prevent the enforcement of the hen w forfeiture of the Property or any pan thereof.
<br />S. Haard)asarance. Borrower shall keep the improvements now exaang or hereafter erected on the Property insured against loss by fire,
<br />hazards included within the term "extended coverage and such of tier 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 Iced 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 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 io the insurance carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable go 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 (it paid premiums. to 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 he impaired, the insurance proceeds shall be
<br />applied to the sums secured by this Deed of Trust, with the excess, it 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 maileav iw I coder to Borrower that the insurance carrier offers to
<br />settle a claim for insurance benefits, 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 and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend nr postpone the due
<br />date of the monthly installments referred to rot paragraphs 1 and _2 hereof or :hanae the amount of such installments. It under paragraph 18
<br />hereof the Property is acquired by Lender, all right, title and interest of Borrower m 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 We or acquisition.
<br />6. Pnasr.atdoa std Ms"knaaee of Properly; LeasebolM; ('ondomfafams; Planned Unit ievedopmeata, Borrower shall keep the
<br />Property in goxsd repair and shall not commit waste of pennil impairment or deterioration of die Property and shall comply with the provisions
<br />of any lease if this Deed of Trust is on a leasehold. I f this Dyed of I rust is on it Will m a condominium or a planned unit development, Borrower
<br />shalt perform all of Borrower's obligations under the dniarauon or ovanants :resting 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 be incorporated into and shall amend and supplement the o:weoanc and agreements of this feed of Trust as if the rider were a part
<br />I.ereaf.
<br />1, Present" of Lender's security. If Borrower fails to perform the ,ovenants and agreements contained in this Deed of Trust, or if any
<br />action or proceeding is commenced which materially affects i ender', inierrst in the Property, including. but not limited to, eminent domain.
<br />Insolvency, code enforcement, or arrangements or proceedings mvolvuig a oanktupt air 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 />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 loan secured by this Deed of I rust, Borrower ,hall pay the premiums ratuired to maintain such insurance tit effect
<br />until such time as the requirement for such insurance terminate, in ac.ordancc with Borrower's arid Lender's written agreement or apphcabiv
<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 I ender pursuant to this paragraph with Interest thereon, shall become additional indebtedness of Burrower
<br />stewed 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 rhtreof, and shall hear interest from the date of disbursement at the rate payable from time to time on
<br />cwtstan ding principal under the ".0 unless payment of interest at such taie would tier contrary to applicable law, in which event such amounts
<br />%half brat interest at the highest rate permissible under apphcabic law. Nothing :on' .med art elm paragraph ? %hall require Lender to incur any
<br />expense or take any action hereunder
<br />1, IRDPW m. lender may make or cause to be made ressons hie mines upon and tnspertions of the Property, provided lhal 1 ender shall
<br />ttivt Borrower notice prior to any such imrwtit'll srtecifyui9 reds -oat ;u!ae Ihriefo, related ro Lender's interest in the 1'rnper+s
<br />•. (' per, [he prceeds <,I any award ;r+ daunt Got damaars, ditaa ,.r ;on%ectutntial, in connection with any .nndenvian.m :.:
<br />,Over, taking of the. Property, a+ part thereof. ( "I h>r .,,a »evamr In 11rn =•f �...ndru,raIron. are herchs a%ugned :arid shall hr pa,d t., t rndri
<br />fn the Offer Of it 1=14111 (11151119 of the Profxr`s the p"KKds shall fx• splihnil ru ter +;ors srnlyd by rhos lend,•( I unit. N ih ow
<br />;'ucl tr, 'kfo,revwrr 4n, tint e,ersr tit a panrai tsAmil tit the 11—rirriv, fl,,,r " ar d I ^non nIhrtwjw ax ,< .. , u,nr,. •heir r ai. t" sr ;•'.•ed
<br />`hr .,,inns h, II',t, t?rev: rr,e�t ,.,, th x. tro, r
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