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<br />84 --s~00217
<br />applicabtclaw requires such interest to be paid, Lender shall not be required to pay Borrower any intemst 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 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 the future monthly ins4a11ments of Funds payable prior to the due dates of taxes,
<br />assessments, insurance premiumsand ground-rents, shall exceed the amount required to pay said taxes, assessments, inswance premiums and
<br />ground rents as they fall due, such excess shall be, at Borrower's opton, either promptly repaid to Borrower or credited to Borrower on monthly
<br />installments of Funds. Iftht amount of the Funds held by Lender shall not be suffieienrto pay taxes, assessments, insurance premiums and
<br />ground Tents as they fall due, Borrower shad pay to Lender any amount necessary to make up ti:e deficiency within 30 days from the date nods
<br />ismailed by Lendtt to Borrower requesting payment thereof. -
<br />Upon payment in full of all surus 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-rhea 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 Deed of Trust.
<br />3. Appdcadon of Payments. Unless applicable law provides otherwise, ail payments received by Lender under the Note and paragraphs 1
<br />and 2 hereof shall be applied by Lender 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. Charges; Liens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable [o 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 ftrnish to
<br />Lender all notices of amounts due under [his paragraph, and in the event Borzower shalt make payment directly, Borrower shall promptly
<br />furnish to Lendtt receipts evidencing such payments. Borrower shah promptly dischazge any lien which has priority over this Deed of Trust-,
<br />provided, that Borrower shall not be reouired to dischazge any such lien so long as Borrower shall agree in writing to [he 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 />al, legal proceedings which operate [o prevent the enforcemem of the lies or forfeiture of the Property or any par[ thereof.
<br />5. Avsrd [osurance. 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 Linder 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 Deed of Trust.
<br />The insurance carrier providing the insurance shall be chosen oy 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 [he manner provided under paragraph 2 hereof or, if not
<br />paid ir, such manner, by Borrower making payment, when due, directly to the insurance cazrier.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standazd mortgage clause in favor of
<br />and in form acceptable [o Lender. Lender shall have the right to hold the policies and renewals thereof, a^d Borrower shaq promptly furnish to
<br />Lender alt renewal notices and all receipts of paid premiums. In the event of toss, Borrower shall give prompt nonce to the, insurance carrier and
<br />Lender. Lender may make proof of loss if not made promptly uy Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repai;~ of the Property
<br />damaged, provided such restoration or repair is economically tensible and the security of this Deed of Trust is not [hereby impaired. If such
<br />rtxtorationor repair is not economically feasible or if the security of this Decd of Trus: would be impairs:, the insurance proceeds shall be
<br />applied to the sums secured by this Deed 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 is mailed by Lender 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 ttus Deed of Truse.
<br />Unless Leader and Borrower otherwise agree in writing, any such application of proceeds to principal shall no[ extend or postpone ti[e due
<br />date of the monthly installments referred to in paragraphs t and 2 hereof or change the amount of such installments. If under paragraph 18
<br />hereof the Property 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 [o the Properly prior to the sale or acquisition shall pass to Lender to the extent of the sums secttrai by this Deed
<br />of Trust immediately prior to such sale or acquisition.
<br />6. Prexrvadon and Maiateoance of Property; I.easeholda; Condotnlafums; Planned Unit Devdopmeats. Borrower shall keep the
<br />Property in good repair and shad not commit waste or permit impairment or deterioration of the Property and shag comply with [he provisions
<br />of any ]ease if [tus Deed of Trust is on a leasehold. If [tds Ihed of Trust is on a unit in a condominium or a planned unit development, Borrower
<br />shall perform all of Borrowtt's obligations under the dedazation or covenants creating or governing the condominitm or planned unit
<br />development, the by-laws and regulations of the condominium or planned unit development, and constituent doct[ments. [f a condominitun 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 it[corporated into and shalt amend and supplement the covenants and agreements of :his Deed of Trust as if the rider were a part
<br />hereof.
<br />7. Protecdoa of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this IXed of Trust, or if any
<br />action or proceeding 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, may make such appearances, disburse such sums and take such action as is necessary to proteM 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 condifion of making the loan secured by this Decd of Trust, Borrower shall pay the premiums required to maintain such insurance in effect
<br />unth such bate as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable
<br />law. Borrower shah pay the amount of all mortgage insurance premiums in the manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph ~, with interest thereon, shall become additions! indebtedness of Borrower
<br />secured 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 thereof, and shall bear interest from the date of disbvrsex.: ^t at the rate payable from time [o time on
<br />outstanding principal under the Note unless payment of interest at such rata would be contrary to applicable law, in which event such amounts
<br />shall bear interest at rite highest rate permissible under applicab]e law. Nothing contained in this pazagraph 7 shall require Lender to incur any
<br />exprnse or take any actian hereynder.
<br />6:_ Itbpucduu, I;endermay make or catus<to be made reasonable entries upon and inspections of the Property, provided that Lender shall
<br />give Borrower notice prior to any such inspection specifying reasonable cause therefoe related to Lender's intttest rr the Property.
<br />9. Coademaadou. 'I'ha procceds of .any award or claim for damages, direct or consequential, in connection with any rnndamnation or
<br />other taking of the Property; or part [hereof, or for conveyance in lieu of wndemnation, aze hereby assigned and shalt be paid to Lender.
<br />lathe even[ ofato[al taking of the Property, the proceeds shalt be-apphed to the sums secured by this Deed of Trust, with the excess, if any,
<br />paid to Borrower. In the anent of a partial !=><_ng of the Property, unless Borrower and Lender otherwise sgrae in writing, there shall be applied
<br />to the soma secured-by this DeM of Trust such proportion of itt¢ Proceeds as is equal to that propartiwt which [he amount of the sums secured
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