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<br />[f Borrower pays Funds to La..der, the Funds shall be held in an institution the deposits or accounts of which are
<br />insured or guaranteed by a Federal or state agency lincluding Lender if Lender is such an institution). Lender shall apply
<br />the Funds to pay said taxes, assessmenu, insurance premiums and ground renu. Lender may not charge for so holding
<br />and applying the Funds, anatyzing said account or verifying and compiling said assessmenu and bills, unless Lender
<br />pays Borrower interest on the Funds and applicable }aw permiu Lender to make such a charge. Borrower and Lender
<br />may agree in writing at the rime of executioe of this Deed of Trust that interest on the Funds shall be paid to Borrower,
<br />and unlras-such agreement is made or applicable law requires such interest to be paid, Lender shalt not be requited
<br />to pay Borrower any interest or earnings on the Ftmds. Leader shall give to Borrower, without charge, an annual
<br />accattnting of the Funds showing crediu sad debits to the Funds and the purpose for which each debit to the Funds was
<br />made. The Funds are pledged as addidona! security for the stuns secured by this Deed of Trust.
<br />If the amount of the Funds held by Lender, together with the future monthly installmenu oY' Funds payable prior to
<br />the dui dates of razes, assessments. insurance premiums and ground rents, shall exceed the amount required to pay said
<br />texts. assessments, insurance premiums and grotmd tents as they fail due, such excess shall be, at Borrower's option,
<br />either promgtly repaid to Borrower or credited to Borrower on monthly installmenu of Funds. If the amount of the
<br />Funds held by Linder shall not be sufficient to pay taxes, assessments. insurance premiums and ground rents as they fall
<br />due, Borrower shah pay to Lender any amoimt necessary to make up the deficiency in one or more payments as Linder
<br />may require.
<br />Upon payment in full of all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower any
<br />Funds held by Lender. If under paragraph I7 hereof the Property is sold or the Property is otherwise acquired by
<br />L,endet. Lender shall apply, no later than immediately 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. Applieatlen of Pa~maars. Unless appticabte law provides otherwise, all payments received by Lender under
<br />the Note and pazagraphs 1 and 2 hereof shall be applied by Linder first in payRrient o2 amounu payable to Lender by
<br />Borrower under garagraph 2 hereof, then to interest payable en the Note, and then to the principal of the Note.
<br />S. Prier M and Deeds of Trdt; CbarEes; Hens. Borrower shall perform all of Borrower's obligations
<br />under any mtmgage, dead of trust or other strurity 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 charge, finis and impositions attributable to the Property which may attain a priority over this
<br />Deed of Trust, and leasehold paymenu or ground renu. if any.
<br />$. Hatcard Imareote. Borrower shall keep the improvements now existing or hereafter erected 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 Irnder may require.
<br />The insurance carver providing the insurance shall be chosen by Borrower subject to approeai 6y Lender: provided,
<br />that such approval shall not be unreasonably withheld. All insurance poiines and renewals thereof shall he in a form
<br />acceptable io Ccnder and shall include a standard mortgage clause in favor of and in a form acceptable [o Lender.
<br />Leredet shall have the tight to hold the policies and renewals thereof. subject to the terms of an_v mortgage, deed of trust
<br />or other security agreement with a lien which has pnortty over this Deed of Trust.
<br />[n the event of toss. Borrower shall give prompt notice to the insurance carrier and Lender. Leander may make proof
<br />of loss if not made promptly by Borrower.
<br />if the Property is abandoned by Borrower, or if Borroutr tails to respond to Lender within 3V days from the date
<br />notice is mailed by I.tnder to Borrower that the insurance tamer offers to settle a claim for insurance benefits, Lender is
<br />authorized to collect and apply the insurance proceeds at Lenders oanon either to restoration ar repair of the
<br />Property or to the sums secured by this Doti of Trust.
<br />6. Praenatlon and Msda~ente of Propem; Leasehotdet Condomitaiems; Planned Unit Developmenn. Bor-
<br />rower shall keep the Property in goad repair atm# shall trot vmmn :caste ur pentiu +mpairment or detenerat+en of the
<br />Property and shall comply with the p:rnisions of ant least if this Dted et Trust is on a leasehold. (f this Deed of Trus[ is
<br />on a unit in a rn~ominium or a plannod unit deselopment, Borrower shall perform all of Bortower's obligations under
<br />the declaration of covenants creating or governing the condommmm or planned unu dereiapment, the by-laws and
<br />regulations of the condominium or planned unit development. and constituent documents.
<br />7, Peotatt{stt of Isad~'s Secaeity, If Borrower fails to perform the covenants and agreements contained in this
<br />Deed of Trust, or if any action or pra•eeding is commenced which matenally affects Lender s interest in the Property.
<br />then Leaflet, at Lender's option, upon notice to Borrower, may makr such appearances. disburse wch sums. including
<br />rcssonablt attorneys' fees. and take such action as es necessary ro protect Lender's interest. If Linder required mortgage
<br />instuantx as a condition of mailing the heart secured by this Deed of Trust. Borrower shall pay the premiums required to
<br />maintain such iesiu-antt in effect until such time its the requirement tar such insurance terminates in accordance with
<br />Borrower's and Lender's written agttement or applicable law.
<br />Any amounu dtsbtrrsed by Leader pursuant to this paragraph -. with intemi thereon. at the Note race, shall
<br />bemirte additioeal indtbtedeess of Borrower secured by this Deed of Trust. Unless 8otniwer and Lender agree to
<br />orher ierrns of payment, such amounts shall be payable upon notice from Lender to Borrower requesting p yment
<br />thereof. Nothing contained in this paragraph ?shall require trader to incur any expense or take ens action hereunder.
<br />b. ~. Lender may make oc cause to be made reasonable earner upon and inspections of the Property.
<br />provided that Lender shad give Borrower notice prior to say such itnpecticxt specihing reasonable cause therefor
<br />relartd to L,trrdez's interest in the Property.
<br />4. Catei~Wsr. 71st proceeds of any award or claim for damages. direct or consequential. in connection with
<br />any ctstrdemttation ar ahtt taking of the Property, ar part thereof. ex far conveyance in lieu of condemnation, sire
<br />hereby assigned and shall be paid to trader, subject to tht tetras of any mortgage. deed of trust or other stcunn agree-
<br />ment with a teen which etas priority over this Deed of Trus[.
<br />t0. Hasti~aet Nat Rrdsaaedt Faebearanoe B7 Leader Nat a Waiver, Fsetension of the amt for payment or
<br />modifieatmer of amortfzatitm of the sums secured by this Deed of 'Trust granted by Lender to at» wccessor m mttrest of
<br />13orrwrer zhail sot operate to release, ie any manner, the habiiity of the original Borrower and Borrower's successors in
<br />ietet+rst. Lander shah not be required to ecxnmeme prtaceedings against such successor eu refuse to extend time fur pay
<br />meat or oRlta+nse modify amortization of the sums secured by this Deed of Eros[ by reassin iii am demand madr by thr
<br />anrgieaL.Bottrtlaret' and Borrower's strcceswrs in inttttst. Any fnrbearanee by !.ender m e><trcisinK any right fir remedy
<br />h~ectitnde€; of athetwast afforded by eStplitablt taw. shall not be a watvtr +~t ix preclude flit ctercisr ui env .u:h nght ar
<br />txrnedy.
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