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<br />I
<br />83-o01H1E
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<br />If Borrower pays Funds to Lender, 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 <including Lender 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 earnings 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 Fundswas
<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 the 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 Lender
<br />may require,
<br />U~n 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 17 hereof the Property is sold or the Property is otherwise acquired by
<br />Lender, 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. Application of Paymenla. Unless applicable law provides otherwise, all payments received by Lender under
<br />the Note and paragraphs I and 2 hereof shall be applied by Lender first in payment 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 />4. PrIor Mod.... and DeecII of Trult; Charpe; 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 payor cause to be paid all taxes,
<br />assessments and other charges, fines and impositions attributable to the Property which may attain a priority over this
<br />Deed of Trust, and leasehold payments or ground rents, if any,
<br />S. Hazan! Inauanee. 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 Lender may require,
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender: provided,
<br />that such approval shall not be unreasonably withheld, All 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 any mortgage, deed of trust
<br />or other security agreement with a lien which has priority over this Deed of Trust,
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof
<br />ofloss if not made promptly by Borrower,
<br />If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date
<br />notice is mailed by Lender to Borrower that the insurance carrier otl'ers to settle a claim for insurance benetits, Lender is
<br />authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the
<br />Property or to the sums secured by this Deed of Trust,
<br />6. Pre.erratlon and Maln4eD_ of Property; Leueholdo; Condominiums; Planned Unit Developments. Bor-
<br />rower shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the
<br />Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold, If this Deed of Trust is
<br />on a unit in a condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under
<br />the declaration or covenants creating or governing the condominium or planned unit development, the by-laws and
<br />regulations ofthe condominium or planned unit development, and constituent documents,
<br />7, Pmteelion of Under'. Securily. If Borrower fails to pertorm the covenants and agreements contained in this
<br />Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Property,
<br />then Lender, at Lender's option. upon notice to Borrower, may make such appearances, disburse such sums, including
<br />reasonable attorneys' fees, and take such action as is necessary to protect Lender's 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 tor such insurance terminates in accordance with
<br />Borrower'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 of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to
<br />other terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting p ~ment
<br />thereof, Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder,
<br />8. lalpecdota. Lender may make or cause to be made reasonable entries upon and inspections of the Property,
<br />provided that Lender shall give Borrower notice prior to any such inspection specitying reasonable cause therefor
<br />related to Lender's interest in the Property,
<br />9. C......_, The proceeds of any award or claim for damages, direct or consequential. in connection with
<br />any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. are
<br />hereby assigned and shall be paid to Lender, subject to the terms of any mongage, deed of trust 0' other security agree-
<br />ment with a lien which has priority over this Deed of Trust,
<br />10. Bolno_ NGt Re:-ed; F~ By Lembr Not a Waiver. Extension of the time for payment or
<br />modification of amortization ofthe sums secured by this Deed of Trust granted by Lender to any SUCc'essor in interest of
<br />Borrower shall not operate to release. in any manner, the liability of the original Borrower and Borrower's successors in
<br />interest. Le.ndet shall not be reql.lired to commence proceedings against such successor or refuse to extend time for pay-
<br />men.t or~benvisemodify amortization of the sums secured by this Deed of Trust by reason of any demand made by the
<br />origioa.l 8om:lwer and Borrower's SIKlCeSSOrs in interest, Any forbearance by Lender in exerCIsing any right or remedy
<br />hereu.ndet, or otherwise afforded by applicllble law. shall not be a waiver of or preclude the exercise of any' such right or
<br />remedy.
<br />11. ~ ud AlItIIM Bouad1 Jolllt and Several LIability; eo"/aners. The Clwenants and agreements
<br />hemn conu.ined ~hall bind, atId the rights hl:rWllder shall inure 10, the respective successors and assIgns of Lender and
<br />Borrower, subject to the provisioos of paragraph II> hereof. All eovenants and agreements of Borrower shall be )Olflt and
<br />several Any 8orTOWtt who l"()--signs thls Deed ofT rust. hut dOt~ not ex:e.."'ute the NUlc. (a) 1'\ l,.'o~,,"lgt1tn~ thl~ Deed of Trust
<br />illlly to lfa.fH and ("()fhrey ;h4t 8or'ttlWc-f'S, mterest In the f)to~r1\ w Ttu~lce under the h..ml:~ of thl\ Deed nf Trust. to) j"j,
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