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<br />5" 005702
<br />appli awe 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 Bwrower, 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 Deed of Trust.
<br />If the amount of the Funds held by Leader, together with the future monthly installments of Funds payable prior to the due dates of taxes,
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<br />assessments, imuk ance premiums and ground rants, shall exceed the amount required to pay say3 taxes, assessments, insurance premiums and
<br />i 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 cants as they fall due, Borrower shall pay to Lander 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 stems 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 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 Dried of Trust.
<br />3. AppieaNan tN Payments. Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs I
<br />and 2 hereof shall be applied by Lander 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. Margin; [Jana. 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 shalt snake 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 sn 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 rttforcemeri 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 stems saw 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 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 tender 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 it 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 secunty of this Deed of Trust would be impaired, the insurance proceeds shall be
<br />applied to the sums secured by this Dad 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 as mailed by Lender to Borrower that the insurance carrier offers to
<br />settle a claim for insurance benefits, tender is authorized to collect and apply the I�surantt proceeds at Lender's option other to restoration or
<br />repair of the Property or to the sums secured by this Deed of Trust.
<br />Unless Leader and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due
<br />due of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of such installments. If under paragraph IS
<br />hereof the Property is acquired by Lender, all right, title and interest of Borrower in and to anv insurance policies and in and to the proceeds
<br />thereof faulting from damage to the Properly 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 />i. rmtensV [as act IMalaM 1, of Prapeety: Leaaeliolds; Condomialami: PhomW Unit DeveMpmmft. 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 lent if this Deed of Trust is 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 />development, the by -laws and regulation of the condominium or planned unit development, and constituent documents. If a condominium or
<br />Maimed unit development rider is executed by Borrower and recorded together with this Deed of Trust, the Covenants and agreements of such
<br />rider shalt be incorporated into and shall amend and supplement the covenants and agreements of this Dad of Trust as if the rider were a put
<br />hereof.
<br />7, ft@W as W !salon "a Seem Arp. if Borrower fails to perform the covenants and agreements contained in this Deed of Trust, or if any
<br />action of pxoaedigg is commenced which materially affects Lender's interest in the Property, including, but not limited to, eminent domain,
<br />insolvency, code enforcement, or arrangements or proceedings involving a bankrupt or decedent, then Lender at Lender's option, upon notice
<br />to Borrower, tray make such appearances, disburse such sums and take such action as is ne xssary to protect tender's interest, including, but
<br />M limited to, disbursement of reaaortable attorney's fees and entry upon the Property to make repairs. If Lender required mortgage insurance
<br />w a condition of nuking the loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain such Insurance in effect
<br />ualil Such time as the requitement for such Insurance terminates in accordance with Borrower's and Lender's written agreement or applicable
<br />paw. Borrower shall pay the amount of all mortgage insurance premiums in the manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by fender pursuant to this paragraph 7, with interest thereon. shall become additional indebtedness of Borrower
<br />sacurted by dltii Hard of Trust. Unless Borrower arse Lender agree to other terms of payment, such amounts shall be payable upon notice front
<br />Lander to Borrower requesting payment thereof, and shall bear interest from the date of disbursement at the rate payable from time ter time on
<br />oulstandiag prii icipal Wider the Note unless payment of interest at such rate would he contery to applicable law, in which event such amounts
<br />sMf) bap tintersal at the hWb"t rats permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any
<br />e r-11" of take May notion hereunder.
<br />g. Mtatpinfan. IA%dar may make or causer(, toe made reasonable enter, upon and inspections of the Property, prrrvided that !.ender %hall
<br />pave horrowtr n olum prior 143 any such Inspection specifying reasonable cause therefor related to !..ender'i interest in the Property
<br />•. CradWinall ter. The proceeds of any award or etim fors dam 4 Kt, dire of con seyuentiai, m cannectsnn with any condemner rx, r`
<br />ca
<br />~other taking of the Property, err part fhereof, or for conveyance in lieu cif c ondemnatton, ire hereby assigned and shall he peed to I rude,
<br />In the rvemt of a total taking of the Property. the proceeds shall tw applied rot the %wn, +ftuird by thi% fk°ed of Ire %t, w,11, the rs,r%., tt Not
<br />paid to ingrown in the event t+f a partial taMma of the 1'ropirrty, unte.a and I enre. ntiurwtse aaree =n wttrtttp, their shall t r apt'llrri
<br />tits slx WM-WUled Sty ante Do-ki td 'Truxl such propt"tion +rf the pr+'Vxla a: ie rryuar ter, chat ;"arak,truelr whtrb thr >itn,.curi of ttsr "rants
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