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85- 005383
<br />apphciifbie fii, v requires such interest to be paid, Lender shall not he required to Borrower interest
<br />pay any or earnings on the Funds. L,cnder shall
<br />give to Borrower, without charge, an annual accounting of the Funds showing credits .nd 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 furure 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 month]
<br />installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance prrniumc 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 noti: e
<br />is mailed by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Decd 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 ai the time of application as a credit against the sums
<br />secured by this Dad of Trust.
<br />3. Ap hialboo of Payments. unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs ;
<br />and 2 hereof shall he applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof, then to inieresr
<br />Payable on the Note, then to the principal of the Note, and then to interest and principal on any Future Advances.
<br /><. (Ionpo: Lieos. Borrower shalt pay all taxes, assessments and other charges, fines and impositions attributable to the Property wnizt,,
<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 ice
<br />Lender all notices of amounts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall prnmpti'
<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 sue^ Lcn
<br />in, legal proceedings which operate to prevent the enforcement of the lien or forieiture of the Property or any pan thereof-
<br />5. Hazard lloso ance. Borrower shall keep the improvements now existit,g or hereafter erected on the Property insured against ions b, fire.
<br />hazards included within the term "extended coverage ", and such other hazards as Lender may require and in such amounts and for such pert :,ds
<br />as Lender may require; provided, that Lender shrill not require that the amount of such coverage exceed that amount of coverage, equiried I,) pa,
<br />the sums secured by this Decd of Trust.
<br />The insurance carrier providing the insurance shall he chosen by Borrower subject to appn+vat 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 t,r. ;i not
<br />paid in such manner, by Borrower making payment, when due. directly to the insurance carrier.
<br />Ali insurance policies and renewals thereof shall he in form acceptable to Lender and shall include a standard mortgage clause m ia,m ,;
<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 incur anc: carrier ima
<br />:.ender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender 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 Dad 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 shali he
<br />applied to the sums secured by this Deed of Trust, with the excess, if any, pal: In Borrower. if the Property is abandoned by Borrower, or if
<br />Borrower fails to respond to Lender within 30 days from the date notice a m- c.; t, '. Lender to Borrower :hat the insurance carrier offers o
<br />'or
<br />settle a claims for insurance benefits. Lender is authorized to collect and apply the insurance proceeds at lender's option either to restoration
<br />repair of time 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 or postpone the dur
<br />date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of such installments. If under paragraph IN
<br />hereof the Proper y 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 sale or acquisition.
<br />f. Pfesenatlea anc h1wim once of Property: Leambokk: Cos9otainioms: Planed Unit DevNapoijesm. 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 Trust is on a leasehold. if this Dad 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 planted unit
<br />development. the hylaws 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 Dad of Trust, the covenants and agreements of such
<br />rider stall be incorporated into and shall amend and supplement the covenants and agreements of this Decd of Trust as if the rider were a part
<br />hereof.
<br />1. PMaclias Of LAWW's Swarthy. If Borrower fails to perform the covenants and agreements contained in this Deed of Trust, or if an,
<br />action or proceeding is commenced which materially affects Lender's intrrest in the Property, including, but not limited to, eminent domain•
<br />insolvency, code enforcement, or arrangements or proceedings involving a harakrupt or decedent, then Lender at Lender's option, upon nonce
<br />to Borrower, may make such appearances, disburse such sums and take such action acs is necessary to protect Lender's interest, including, hui
<br />not limited to, disbursement of reasonable attorney's fees and entry upon the Property to make repass. If Lender required mortgage insurance
<br />as a condition of making the loan secured by this Dad of Trust. Borrower shall pay the premiums required to maintain such insurance in effect
<br />until such rime ere the requirement for such insurance terminates its accordance with Borrower's and Lender's written agreement or ap pllcablr
<br />law. Borrower shall pay the amount of all mortgage insurance premiums in the manner provided under paragraph 2 hereof.
<br />Any amounts disburxed by Lender pursuant to this paragraph', with interest thereon, shall become additional indebtedness of Borrower
<br />wcured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable upon nonce !-on,
<br />Lender to Borrnwet requiting payment thereof, and shall beat interest from the date of disbursement ut the rate payable from time to time on
<br />outstanding principal under the Note unless payment of interest at such rate would he contrary to applicable law, in which event such amount,
<br />.
<br />stall bass interest at the highest rate permissible under applicable law. Nothing. L'nrttatrted In this paragraph' shall require Lender to incur
<br />anti
<br />expense or take any action hereunder.$
<br />g, loopecdaa. Lender
<br />may make tit cause to be made reasonable entries upon and inspections of the Property, provided that bender :hail
<br />n
<br />give Borrower natite prior to any such Inspection specifying reasonable cause therefor related to Lenders Interest In the Propert>
<br />'• «. The pronceds of any award ur claim for datnafeet, dire i ,t ;onsequential. Irt i'iIIII' i'tit,n "oh any 'l lit lt'rllnatl. ;I
<br />tabor takirttR of the Property, or part thereof, or fur conveyance to lieu 411 rnndernnatu,n. air hereby aasigmro ant than he nald to I rude,
<br />In itwevent (ff a lotal taking of the Pr(tperty. the proired, shall fir apphrd t0Itit''.IIIIIS `+ei'z rd b, !flit l vrki �tf l tiiSi,
<br />paid io lmor mwrr In ittr rent t,f a partial faklnr. (+f the 11rorwrrs IB(1rrltw Cr IM1II- I rndrl irltrH lSC 't}. C , 11 }, r1C t 111 it hr t !I -
<br />!( Ihr %411111 KMwed by .'tm lk(ed "t t(k"'1"' (ltlrp;tin(In (lI Iflt 11 •. ,Cr { HS f', C'l ;!.$ + : :;' , tt„ .. ! ?Ir I, !.. `I. il' .. _ ,
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