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<br />85-001179
<br />if Borrower pays Funds to Lender, the Funds shall be held in.. an institution the deposits of accounts of which are
<br />insure-' or guarantec-tl by a Federal or state agency (including Gender if lender is such an institution). Lender shall apply
<br />the Funds to pay said taxes, assessments, insurance premiums and ground rents. Lender may not charge for so holding
<br />and applying the Funds, analyzing said account or verifying and compiling said assessments and bills, unless lender
<br />pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender
<br />may agree in writing at the time of execution of this Deed of Trust that interest on the Funds shall be paid to Borrower,
<br />and unless such agreement is made or applicable law requires such interest to be paid, Lender shall not be required
<br />to pay Borrower any interest or earning on the Funds. Lender shall give to Borrower, without charge, an annual
<br />accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was
<br />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 Lender, together with rite future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said
<br />taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option,
<br />either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the
<br />Funds held by Lender shall not be sufficient to pay taxes, assessments• insurance premiums and ground rents as they fall
<br />due. Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as Tender
<br />may require.
<br />Upon payment in full of all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower an
<br />Funds held by Gender. If under paragraph 1' hereof the Property is sold or the Property is otherwise acquired by
<br />Lender, Lender shall apply. no later than immediatel; prior to the sale of the Property or its acquisition by Lender. any
<br />Funds held by Lender at the time of application as a credit against the sums secured by this Deed of Trust.
<br />3. Appli<stton of Payments. Unless applicable law protides otherwise• all payments received by tender under
<br />the Note and paragraph; 1 and 2 hereof shall be applied by Lender first in payme ^t of amounts payable to Lender by
<br />Borrower under paragraph 2 hereof, then to interest payable on the Note, and then to the principal of the Note.
<br />S. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations
<br />under any mortgage, deed of trust or other security agreement with a lien which has priority over this Deed of Trust,
<br />including Borrower's covenants to make payments when due. Borrower shall pay or cause to be paid all taxes,
<br />assessments and other charges. tines and impositions attributable to the Propetty which may attain a priority over this
<br />Deed of Trust. and leasehold payments or ground rents, if any.
<br />5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erecied on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage ". and such other hazards as Lender
<br />may require and in such amounts and for such periods as Lender may require.
<br />The insurance carrier providing the insurance shall be chosen, by Borrower subject to apps oval by Lender: provided,
<br />that such approval shall not be unreasonable withheld. AN insurance policies and renewals thereof shall be in a form
<br />acceptable to Lender and shall include a standard mortgage clause in favor of and in a form acceptable to Lender.
<br />Lender shall have the right to hold the policies and renewals thereof, subject to the terms of anv mortgage• deed of trust
<br />or other security agreement with a lien which has priori[, aver this Deed of "trust.
<br />in the event offs. Borrower shall give prompt notice to The insurance carrier and [.ender. Lender may make proof
<br />of loss if not made promptly by Borrower.
<br />if the Property is abandoned by Borrower. or if Borrower fads to respond to Lender within 30 dais from the date
<br />notice is mailed by lender to &irroti r that the insurance carrier otter ro settle a claim for insurance benefits. Leader is
<br />authorized to collect and apply the insurance proceeds at Lenders option either to restoration or repair of the
<br />Property or to the sums secured by this Deed of Trust.
<br />b. Preservation and Maintenance of Property: Leaseholds; Condominiums: Planned Unit Developments. Bor�
<br />ro'wer shall keep the Property in good repair anti shall rot commit waste or permit impairment or deterioration of the
<br />eroperl and shaii comply w i.h 'hc provisions of any lease it this Deed of Trust is on a leasehold. If ibis D �d of Trust is
<br />on a unit in a condominium or .: planned unit development. Borrower shall perform all of Borrower+ obligations under
<br />the declaration or covenants creatin-o rnr governing the condominium or planned unit +eveie-pment, the bylaws and
<br />regulations of the condominium or planned unit development, and constituent documents.
<br />7. Protection of Lender's Security. If Borrower fails w perform the covenants and agreements contained in this
<br />Deed of Trust, or it anv action or proceedive is : -n—.ct d which materially affects Londe. •s interest in the Property.
<br />then Lender, at Ixnders option, upon rictice to Borrower, may make such appearances, disburse such sums, including
<br />reasonable attorneys• fens. and take such action as is necess..r-, to protect Lenders interest. If Lender required mortgage
<br />insurance as a condition of making the loan secured by this Deed of Trust. Borrower shall pay the premiums required to
<br />maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with
<br />Borrow'er's and lender's written agreement or applicable law.
<br />Any amounts disbursed by Lender pursuant to This paragraph 7, with interest thereon, at the Note rate, shall
<br />become additional indebtedness ,ok Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to
<br />other terms of payment, such amounia shall be payable upon notice from Lender to Borrower requesting payment
<br />Thereof. Nothing contained in this paragraph - shall require Lender to incur any expense or take any action. hereunder -
<br />8. Insnreetiin. lender mac make or cause to be made reasonable entries upon and inspections of the Property.
<br />r.ovided that Lender shall give Scrrower notice prior to any such inspection specifying reascoahlc cause therefor
<br />related to Iender'sinterest is the Property.
<br />9. Condemnation. The proceeds of anv award or claim for damages. direct or consequential. in omneci :on ,vtth
<br />any condemnation or other taking of the Property, or part thereof, or for conve c
<br />yance in lieu of condcnmatioa, ar
<br />hereby assigned and shall he paid to Lender- subject to the Term., of any mortgage. deed of trust or other sccuras aeree-
<br />menu with a lien which has priority over this Deed of Trust
<br />L4. Borrower Not RA—d- Far6e.vea.v. R. —A— Vin W. P
<br />modification of amortization of the sums secured by this Deed of Trust granted by (_ender to anv successor in (interest of
<br />Borrower shall not operate to release. in :,nv manner, the itandi v ofihe onginal Borro rr and B- rrnwcrs su cos.. as in
<br />interest. Lender shall not be required to cont.nence proceedings against such successor or refuse to extend time for pay-
<br />;rent or otberwise modify .amortization of the saes ; cured by this Deed of Trust h: re ,on it ang demand ntode by the
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<br />_,i inai dorrmuer and Barr: o'er -cess ter t h__._ . T slicer ,
<br />'r _g - Cr.' i t.., �, :J _ - PCC - i• _ - ... - it Th r r tot IV'
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<br />hereunder, fir otherwise atforded by applicable law, shall not be a waiver %ii r prcc1ut1, .as c xerau .. - :.i.v suvi; o'ir:ht =,r
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<br />ft. Syrvtyson and Assigns Bound: Joint and several LiAbillty; Co- signers. -1 -11e �irv- rnants :ot.i .ogrccnicots
<br />Itereoi ,opt: ;ncsl shall b,od lnd the rtghs heree ntier •,13111 inure To. the reslsxtive ,uc : :•ss :cs and .,.= -,kit; of i �n,t< -r .ono
<br />lkjrro »err %uhlc-c•t .,� th,• vi;t inset ,,arjyra li :b here,. d
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