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<br />appligble law requires such interest to be paid, Lendu shall not be required to pay Borrower any interest or earnings on the Funds. Lendu shall
<br />give to Bonowu, 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, [ogethu with the future monthly installmrnts of Funds payable prior [o the due dates of taxes,
<br />assesstrtmts, insuratttt premiums and ground rents, shag exceed [he amount required to pay said taxes, assessments, insurance premiums and
<br />ground•rents as they fail due, such excess shall be, at Borrowu's option, either promptly repaid [a Borrowu or credited to lbrrowu on monthly
<br />installments of Funds, if the amount of the Funds held by Lendu shat! not be sufficient to pay taxes, assessments, insurance premiums and
<br />ground rents as they fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency within 3o days from [he date notice
<br />is mailed by lender to Borrower requesting payment thereof.
<br />Upop payment in full of all sums secured by this Deed of Trust, Lender shalt promptly refund to Borrower any Funds held by Lendu. If
<br />under paragraph 18 hueof the Property is said or the Property is otherwise acquired by Lender, Lendu shall apply, no into than immediately
<br />prior ro 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. ApplkaBoe of Payments. unless applicable law provides otherwise, a!1 payments received by Lender undo the Note and paragraphs I
<br />and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borcower under paragraph 2 hereof, then to intuest
<br />payable on the Note, then to the principal of the Note, and [hen to interest and principal on any Fuwre Advances.
<br />a. Chaises; Liens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to [he Property which
<br />may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any, in the manner provided undo paragnpt 2 hereof
<br />nr, if not paid in such manner, by iorrower making payment, when due, directly to the payee thereof. Borrower shall promptly furtuth [o
<br />Lendu all notices of amounts due under this paragraph, and in the event Borrower shalt make payment dvectly, Borrower shall promptly
<br />furnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over [his Deed of Trust;
<br />provided, that Anrrowu shall not be required to discharge any such hen so long as Borrower shall agrce in writing to the payment of the
<br />obiigadon secured by such ben in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such Gen
<br />in, legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any pari thereof.
<br />5. Hazard Insunaa. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire,
<br />harards included within the term "ezrende'd coverage", and such other hazards as Lender may require and in such amounts and for such periods
<br />as Lender may require: provided, that Lender shall oat require that the amount of such coverage exceed that amount of covuage required to pay
<br />the sums secured by this Deed of Trust.
<br />The insurance carrier prrn~iding the insurance shat be chosen by Borrower subject [o approval by Lender, provided, that such approval
<br />shall not be unrtasonably withheld. Rti premiums nn insurance policies shall be paid in the manner provided under paragraph 2 hueof or, if no[
<br />paid in such manner, by Bwrawer making payment, when due, directly to the insurance carrier.
<br />Rii insurance paiiciis and rerewa;s tt-r-, s„a„ rK in ;arm acceptable to Lender and shah iniiude a standard mortgage clause in Favor of
<br />and in form acceptable to Lender. Lender shall have the nght to hold the policies and renewals thereof, and Borrower shall promptly furnish to
<br />Lender ail renewal notices and ail receipts of paid premiums. in the event of loss, Borrower shall give prompt notice to the insurance carriu and
<br />Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lander and Borrowu otherwise agree in writing, insurance proceeds shat be applied to restoration or repair of the Property
<br />damaged, provided such restoration or repair is economically feasible and the security of this L><ed of Trust is not thereby impaired..li such
<br />restoration or repair is oat economically feasible or if the security of this Deed of Trust would be impaired, the insurance Proceeds shall ~be
<br />applied to the sums secuted'oy this Heed of Trust, with the excess, if any, paid to Borrowu. [f the Property is abandoned by Borrowu, or if
<br />Borrowu fails to respond to Linder within 30 days from the date notices is mailed by Lender to Borrowu [hat the insurance carriu offus to
<br />settle a claim for insurance benefits, Lender is authorized to cotlect and apply the insurance proceeds at Lendu's option eithu to restoration of
<br />repair of the Property or to the sums secured by this Deed of Trust.
<br />Unless Lendu and Borrower otiterwix agree in writing, any such application oC proceeds to principal shall not extend or p~tpoM-thedue
<br />daft of the monthly instaGtnents referred to in paragraphs 1 and 2 hueot or change the amount of such installments. If under paragraph LS
<br />herwf the:Proputy is acquired by Lendu, all right, title and intuest of Borrowu in and to any insurance policies and in and to thaprocseds
<br />thereof resulting from damage to We Property prior to the sole or acquisition shall pass to Lender [o the extent of the sums sxtued by this bred
<br />of Trust immediately prier ca such sale or acquisition
<br />d. Pnsuradw and Malateaance of PrWKtYt I.easeYoids; CoedosWam; Plastaed Udt UereloNen4. Borrowu shall keep; the
<br />Property in good repair and shall oat commit waste or permit impairmrnt or duerioration of the Proputy and shag tbmply with the proviaions-
<br />of any !rase if this Deed of Trust is on a leasehold. lt' this Deed oC Tntst is on a unit in a condotnitdum or a planned unit development, Borrower
<br />shag puform all of Borrowu's obligations undo the declaration or covenants creating or governing the condottunium or platttted unit
<br />developmene, ehe by-laws and regulations of the condominium or planned utdt dtvelopmrnt, and constituent documents. If a cotuiotttinium or
<br />planned utdt development ride is executed by Borrowu and recorded together with this Deed of Trust, the covenants and agrcemmta of such
<br />rider slwlF-be i[tcotporated into and shag amrnd acrd suppiemrnt the covenants and agreements of this Deed of Trust as if the rider were a part
<br />hueof.
<br />7. Ptotet9oa of Itnder'.s Sccar-ty. If Borrower fails to perform the covenants and agcements contained in this Deed of Trust, or if any
<br />nation or pra~etding is commenctd which materially afftc[s Lendu's interest in the Property, including, but not Gtttited [o, eminent domain,
<br />insolvency, code enforcement, or arrangements or proceedings Involving a bankrupt ar decedent, [teen Lendu at Lender's option, upon notice
<br />to Barrowu, may ipake such appearances, disburse such sums and take such action as is necessary to protect Lendu's interest, inelttding, but
<br />twt limited to, disbursementof reasonable auorney's fees and entry upon the Property to make repairs. If Lendu required mortgage insurance
<br />as a oottdition of making [he loan sxtued by this 17eed of Trust, Bonowu shag pay the premiums required to maintain such insurance in effect
<br />lentil sorb tune as the rsquiremen[ for such insmanee termittatts is accordance with Borrower's attd Lrndu's written agrcement or applicable
<br />taw. Barrowu x1taG pay the amount of aG mortgage ituurance premiums in the manner p€ovided undo paragraph 2 hueof.
<br />Any amounts dlabursed by Ler[der pursuant to this paragraph 7, with interest thereon, shall become additional indebtedness of Borrowu
<br />sstured by this Deed of Trust. Unless Barrowu and Letdu agree to other [ants of payment, suih amounts shall be payable upon notice from
<br />LetWer to Borrower requesting payment thereof, and shalt bear intuest from the date of disbursement m the rate payable from time to time on
<br />r»ttttandittg principal undo the Noee unless payt[aem of itttuest at such rase would be crontrary to applicable law, in which event srch amowds
<br />shat bane hit5rest ai rho ltlghtxi rate permissible under appGabk taw. Notting contained in this paragraph 7 shall require Linder to incur espy
<br />exf+estse ar tape any action htreundet,
<br />is Iny~stdan: t;epdet [pay matt or cause to be made reitsonabk entries upon and insPcctidas of the Property, Provided that Lendu shall
<br />gist iiorrarat aWice prior to any s[[ih inspection specifying rasonabk cause therefor rcJated to Lender`s interest in the Property,
<br />9, Cptnlplutauo~; The proctuls of arty award or claim fa[ damages, direct ax cnnsequmtial, in sbnttecrion with at[y condemnation or
<br />n[tz{t #+tltitey. of tltrFroperty. or par[ tlittasf,-or for canveya[tct in lieu of candetttnatian, are hereby assigptd arsd xhaG be Paid to Linder.
<br />tatbesvs~nt i;:f a tataf takittgof the ProPertY. the Proceeds snail bt applied ao tiro soma secured by this Dtnl of Trust. with the excess, if espy,
<br />paid qu $orru~c+, In t hn event of a partial [akit[g of the Ftaperty, apices Borrawtr and kxndu o[letrwssr agrte in writing. ihue shad be apptiai
<br />to tlrtisntpa .n urz,i ttY ,his flrecf of `!`rust sue.-h praprtsizon of t3at paoctrds as is cyuai to Shat pra~irsion which the amotmt of the sums sc~urici
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