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$4 ---~ ru a 0918
<br />applicable law requires such interest to be paid, Lender shall not be required to Day Borrower any interest or earnings on the Funds. Lender shall
<br />give [o Bortower, without charge, an annual accounting of the Funds showing credits anti debits to the Funds and the purpose for which pch
<br />r debit to the Funds was made. The Funds aze pledged as additional security for the sums secured by this fked of Trust.
<br />I [f the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due dates of [axes,
<br />assessments, insurance premiums and ground rents, shall exceed [he amount required to pay said taxes, assessments, insurance ptemiums~and
<br />ground rents as they fall due, such excess shall be, at Borrower's option, either promptly repaid to Borcowtt or ttedited to Borcowtt on monthly
<br />installments of Funds. If [he amount of the Funds held by Lender shall not be sufficient to pay tames, assessments,insurattce pretnittrroaod
<br />ground rents as they fall due, eortower shall pay to Lender any amount necessary to make up the deficiency within 30 days from-the date notice -
<br />ismailed by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borcowtt any Funds held-byLender. If
<br />ondtt paragraph ! 8 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later than imttteduWy
<br />prior to the sale of the Property or its acquisition by Lender, any Funds held by Lendtt at the time of application as a credit againstthe sums
<br />secured by this Deed of Trust.
<br />3. Applkadon of Payments. Unless applicable law provides otherwise, all payments received by Lender under thrNoteand pangnphs'1
<br />and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borcower undtt 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; Liees. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to thrProperty whicti.`
<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 hertmf
<br />or, if not paid in such manner, by Borrower making payment, when due, directty to the payee thereof. Borrower shall promptly foroish~to ,
<br />Lender all notices of amounts due under this pazagraph, and in the event Borrower shall make payment directly, Borrower shall: promptly
<br />furnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any ben which has priority over this Deed=ofTrtiet;-.
<br />provided, that Borrower shall not be required to dischazge any such lien so long as Borrower shall agree in. writing to the.paytnmt-of-the--
<br />obtigation secured by such lien in a manner acceptable to Lender, or shalt in good faith contest such lien by, or defend enforcemrntof such-lien -
<br />in, legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thtteof.
<br />5. NaLrd leaonace. Borrower shall keep the improvements now existing or hereafter erected on the Property insuredagaitut.lossbyfue;
<br />hazards included within the term "extended coverage", and such other hazards as Lender tray require and in such amounts and-forsttcti periods:
<br />as Lender may require; provided, that Lender shall not require that the amount of such coverage exceed that amount of coverage required-lo.--pay
<br />the sums secured by this Deed of Trust.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided, that suchapprovd--.
<br />shall not be unreasonably withheld. Aii premiums on incur cc polices sh I be paid i:, ti:e .manner provided under paragraph 2 hereof or, if not
<br />paid in 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 standard mortgage clause in favocof
<br />and inform acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, and Borrower shag promptly furnish-to~
<br />Lender all renewal notices and all receipts of paid premiums. In the event of loss, Borrower shall give prompt notice to the insurance carrier.arrd
<br />Lender. Lender may make proof of loss if not made promptly by Borrower. - -
<br />Utiless Lender anti Borrower otherwise agree in wilting, insurance proceeds shall be applied to ratontion ot. repast: of'the.-Property-
<br />damaged, provided such restoration or repair is economically feasible and the security of thts~Deed of Trust.is not thereby impaired, If;sttt:lt.
<br />restoration or repair is not ernnomicaily feasible or if the severity of this Deed of Trust would be impaired, the instrance proceeds shall'-b6 --
<br />applied to the sums secured by this Deed of Trust, with the excess, if any, paid to Borrower. tf the Property is abandoned-by Burrower,; onif
<br />Borrower fails to respond to Leader within 30 days from the dale notice is mailed by Lender to Bnttowtt that the insuntue carrier offen3o-
<br />settle aclaim for insurance benctits, Leader is authorized to collect and apply the insurance proceeds at Lender's option eitlte[-to restoratiod"or- ,_
<br />repair of the Properiy or to the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such aDDiicaGon of proceeds to principalshatlaot ex[wd-or. postponfthedt[e>
<br />date of the monthly installments referred to in paragraphs I aru12 he;eaf or change the amount of such installments. if under pangraph;lg
<br />hereof the Property is acquired by Lender, alt right, title and interest of Borrower. in and to any imurana policies-and in and, to the proa~etl6..
<br />thereof resulting from damage to [he Property prior to the saleor acquisition shall pass to Lender to the extgntof thtsums accrued by this Dettd-
<br />of Trust immedia[dy prior to such sale or acquisition.
<br />6. Praervattoa aced Maiateaaace of PropMy; I.earYoWs; Coadodaiaos; PMusd Udt; Devdo/rs~Y. Borrower shall :keep the
<br />Property in good repair and shell not commit waste or permit impairment or deterioration ofChe.Property and-shall-corttply with the:provisiona-
<br />of-any Iwse if this Deed of Trust is on a leasehold. If this Decd of TCUStis on a unit ins condomitum or a pLnned uttit-development. Borrower
<br />shall, perform all of Borrower's obligations udder the declaration or covenants etealing or governing the condominium or planted unit
<br />development„ the by-taws and regula{ions of the condominium or plattned uttit development, artd coostitumt documents: It a condominium 4r
<br />planned unit development rider Is executed by Borrower and recorded together with this Deed of Trust, the wvetumts and agreements of sttch
<br />rider shall be incorporated into and shall amend and supplement the covenants aM agraments of this-Deed of Trust as if the ridtt were a part
<br />tttteof. -.
<br />7. Prolcedoa of lender's Security. If Borrower fait to perform the covenatts and agreements contained in this Decd of Trust, or if any
<br />action or proceeding is commenced which materially afftcts Lender's interest in the Property, including, but not limited to, eminent domain,
<br />insolvency, code enforcement, of arrangements tSf proceedings involving a bankrupt or decedent, then Lendtt at Lender's option, upon notice
<br />to Borrower, may make such appoattlIICes, disburse such sums and taco such action as is necessary to protect Lender's interest, including. but
<br />- not limited [o, disbursement of reasotabk attorney's feq and ertfry upon the Property [o make repairs. If Lender required mortgage insurance
<br />as a condition of making the loan secured by this Deal of Truer, &rCrower shall pay the premiums reyuired to ttwir[tain such insurance to effect
<br />until such-time as.ihe requirement for such insurance tsrmin4tes,tn,aceotdana with Borrower's and Lender's written_agre<tnent or applicable
<br />- law. 8orrower.shall pay the.amountof all mortgage insurance premiums in the manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Leniier pursuant to this paragraph 7, with interest thereon, shall become additional indebtedness of Borrower
<br />secured by this Decd of Trust, Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable upon notice from
<br />- Lender to~Borrowor requesting paymenuthtteof, and shali~bear,intttest ftom the. daft of disbursement at the rate payable from time to time on
<br />outstanding principal ttndtt.the Notq unless, payment of intttost at such rau would be contrary to aPRlicable law, in which event such amounts
<br />... shall tzar interrst at thahighest rate-pttmtasiblt.undtt applicable law. Notlting contained iq this paragraph 7 shalt require Lender to incur any
<br />expectse or take any action hcroundar.
<br />g, lypaeuaa• Lender may make ax :ease [o tx made reasonable anuses upon anti inspections of the Property, provided that Lender shall
<br />gtwe Bprrawer notice, prior [o any susb inspection specifyingreasonabte cause therefor related to Lender's interest in the Property.
<br />4, CoatleAaaaGOat Tttc.pcocgtds of au=v award or claim for damages, direct or canseque-ntial, in eonnecdon with any condemnation or
<br />otlsgrtaking of:the:PropertY, or part thereof. ar for <vanvcyancc in lieu of cantlctnnation,nre htteoY assigned and shalt be paid to Lender.
<br />Lathcovettiofatotal:takflgolihe_Pruperty,the,pros:eedsshallbeappliedtorhosumssauredbythisDeedofTrust,w~tt[heexcess.ifany,
<br />paid-to-BUrfo[vcr. !n iheevont.of a partial taking of [tae Property, unless-Borrower and i.xndet otherwise egret in writing, [here shall be applied
<br />.. ref the aura sscttrcd by this t.~xd of Trust such ptapc,rtion,o€ iho prttecods as is er;ual to that proportion whiEn the a[noum of slit sums secured
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