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84 ---G II 0'7 % i
<br />applicable 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 Borrower, without charge, an annual accounting of [he Funds showing credits end debits to the Funds and [he 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 />[f [he amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due dates of taxes,
<br />assessments, insw•ancc premiums and ground rents, shall excad the amount required to pay said taxes, assasmmts, insurance premiums and
<br />ground rents as they fall due, such excess shall be, at Borrower's option, either promptly repaid trI Borrower or credited to Borrower on monody
<br />installments of Funds. If the amount of the Funds held by Lender shall not be snfficimt to pay taxes, assessments, insurance premiums and
<br />ground teens-as they fall due, Borrows shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice
<br />is melted by Lender to Borrower requesting payment thereof.
<br />Upon payment in fu8 of all sums secured by this Deed of Trust, Lender shalt promptly refund to Borrower any Funds held by Lmda. If
<br />under paragraph 18 hermf 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 Properly or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums
<br />secured by th{s Deed of Trust.
<br />3. Appgptloa of Payments. Unless applicable law provides otherwise, all 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 hermf, 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; Lkas. Borcower 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 manna provided under Daragraph 2 hermf
<br />or, if not paid in such manna, by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish to
<br />Lends all notices of tunounts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly
<br />furnish to Lender receipts evidencing such payrtttenu. Borrower shill promptly discharge any Gen which has priority over this Deed of Trust;
<br />provided, [hat Borrower shall not be required to discharge any such Gen so long as Borrower shag 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 coolest such lien by, or defend enforcement of such lien
<br />in, legal procadings which operate [a prevent the enforcement of the lien or forfeiture of the Property or any part thermf.
<br />5. Naaard lasanatt. Borrower shall keep the improvements now existing or hereat""ter 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, chat Lender shall no[ require that the amount of such coverage exceed that amotmt of coverage requirtd to pay
<br />the sums secured by this Deed of Trust.
<br />The insurance carrier providing the insurance shat! be chosen by Borrower subject io approval by Lender; provided, that such approval
<br />shall oat be unreasonably wnhheld. All premiums on insurance paiicies sbaG be paid in the manner provided uada paragraph 2 hermf or, ;f not
<br />paid in ouch manner. by Harrower mflkirtg payr,- , - „z-, u..z, .,,r~:.t.y t., the insuranc. car......
<br />All inavrance policies and renewals thereof shall be in form acceptable [o Lender and shag include a standard mortgage clause in favor of
<br />and in form acceptxble to Lender. Lender shall have the right [o hold the politics and renewals thereof, and Borrower shall promptly furnish to
<br />Lender all renewal notices and aG receipts of paid premiums. In the event of lass, Borrower shall give prompt notice to the insurance carrier acrd
<br />Lender. Lender may make proof of toss if 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 ar repair is economically feasible and [he security oC this Deed of Trust is not thereby impaired: If such
<br />restoration or repair is not aonomically feasible or if the security of this L)eed of Trust would be itnpaircd, the insurance proceeds shag---be
<br />applied to the sums secured by this Deed of Trust, whh the excess, if any, paid to Borrower. If the Property is abandoned by Borrows; or-if
<br />Borrower €ails to rtspord to Lender within 30 days Crom the date notice is mailed by Lender to Borrower that the insurance carrier offers [o
<br />settle a claim for insurance benefits, Lender is authorized to collect and apply the inaurantx proceeds at Lender's option either torestontan or
<br />repair of the Property or to the sums sacred by this Deed of Trust.
<br />Unless Lender and Borrower othawiu agree in writing, any such application. of proceuls to principal shag not extend or poatpoaethe due
<br />date of tltt monthly installments referred to in paragraphs I and 2 hermt or change the amount of such installments. if undo paragraph 18
<br />hermf the Property !s acquired by Ltnda, all right, title and interest of Borrower in and to any imurana poticid-and in and to the proceeds.
<br />thereof resulting from damage to the Property prior to the sale or acquisition shallpass-m Lender to the atent of thesttms sau-ed-6y thin-Dad:
<br />of Trust-imtttediately prior to such sale or acquisition. '
<br />6. Ptaaenatloa sad Maiateuaa of Proyerfy; Leaaeiolda; Coado.-lalaar; Placed Udt Devebgreab.- Harrower shall- keep-the
<br />Property in good repair and shail•not commit waste or permit impairment or deterioration of [hePropaty and dull comply.wit6'the.pruvidolts.
<br />of any tease if [his Dad of Trust is on a leasehold. I f this Deed of Trust is on a unit in a condominium or a planned utdt.deydopment, Borrower
<br />shall perform-all of Borrower's obligations coda [he dalaradon or covenants creating or governing the cottdotoinium on-planned. unit
<br />devdopment, the. by-laws anti regtda[ions of the condominium or planned unit development, and mnatituenl-docwttents. If a condom4thtm or
<br />planned attic developtoem rider is executed by Borrower and recorded together with this Dad of Trust, the covenants aced. agreements'of attch
<br />rids-shag be ittwrporated into and shalt amend and supplement ilre covenants and agreements of this Deed of Trust as if the rids was a part
<br />hereof.
<br />T. Proteetba of Leader's Security. If Borrower fails to perform the covenants and agramems contained in this Dad of Trust, or if any
<br />action or proceeding is commcnccd which materially affects Lender's interest in the Property, including, but not Utnited to; erttinent domain;
<br />InaplVCnCy, cock enforcement, or arrangements or prcxeedinga involving a bankrupt or decedent, then Lender at Lender's option, upon notice
<br />tR Ifiorrower, may makt snch appearance, disbtuse such sums and take such action as is naessary to protect Leruler's interest, including, but
<br />trot limited to, diitburaement of reasonable attumey's fees and entry upon the Property to make repairs. if Leer required mortgage insuraoa
<br />as a condition of making fht loan secured by this Dad of Trust, Borrower shat pay the premiums required to maimain such insurance in effeht.
<br />until sur3t time as the requirement far such insurance terminates in accordance with Borrower's and-Lender's written-agreement or applieabk-
<br />taw, Borrower shall pay tiers amount of aU mortgage insurance premiums in the manna provided under paragraph Z hereof.
<br />My aanounis d~sbassed by bender ptusuant to this paragraph 7, with interest thereon, shall brxwmc additiorul indebtedness: of Bwrowa
<br />secured by this Deed of Trust. Unless Borrower and Lender spry to other tams of paymimt, sash amounu shall be payable-upon notitxfrom
<br />Lender to burrower requesting paynunt thermf, and shalt bar interest from she date of aisbnrsemmt at the rate payable Fram t[rne. to /hne.on.
<br />twistaading principal under the-Note utiless.paytnem of Sn#erest at such rate would-be a'r.[trary to apphubk few, in which.eveot such amounts
<br />shad bar iotucar at th< hishesf raft perinlssible under applicable law. Nothing xantaved in this Pat'agraPh T shall require Lmda to tutor any
<br />ssprnse err take any anion lxrtomden.
<br />" 1. taM.ctlar. [.ender may maker etr~usc to tic. maderrsuonabie emrica upon. and inspections of the Property, provided tiro lender shall
<br />give Burrow n rxrti~Y pr{or io any such irlapatinp spetafying reaawtable canes therefor related to Lender's iaterest in the Propertp.
<br />s. fwistaaatlw. Tlteprocaais of tuty sward or-claim far damages, direct or ::ottsegven[itd, in eotmeeciov with any tx>ndcmnr[ion or
<br />other tale ins of the Propcn y. or Part. thtrmf, or Eoremweyance In fsmt ofcandemnation, ors hereby assigtwd and short be paid to Lender.
<br />1 n tAe event of a tacsltaltitsllof the Properly, tht pav,ts shall be appled to tlu: sums soured by this Deed:of Trust. with the ezoess, if any,
<br />pad e a lkirrewtr Nt ;tic eveii# of rs pat3lal [+ktr+g of the Prrperty, urilesn Horxrswer and Lender otherwise agree in writing, share shall be appllai
<br />tp i{x ~ulT t .ecturtthy t l4 trf TrusCSttch~prapgttpn ref-tlte.ptotreds as is gust to that proportion which tlu^ ;vuount of the sutras aewrrd
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