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<br />84~ ---fl01836
<br />If Borrower pays Funds to I~nder, the Funds shall tx held in an institution the deposits or accounts of whtch 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 Bald assessments and bills, unless Lender
<br />pays Borcower interest an the Funds and applicable law permits Lender to make such a charge. Borcower and Lender
<br />r may agree in writing at the time of execution of this Deed of Trust [hat interest on the Funds shall be paid to Borrower,
<br />I and unless such agreement is made or applicable law requires such interest to be paid, Lender shall not be requited
<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 Funds was
<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, Borcower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as Lender
<br />may require.
<br />L'pon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any
<br />Funds held by [Roder. If under paragraph l? hereof the Property is sold or the Proptxty is otherwtse 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 helA 6y Lender at the time of application as a credit against the sums secured by this Deed of Trust.
<br />3. AppBcatbe of Payetenb. l?nless applicable law provides otherwise, all payments received by Leader larder
<br />the Note and paragraphs i and 2 hereof shall he applied by Lender first in payment of amounts payable to Leotkr by
<br />Borrower under paragraph Z hereof. then to interest payable on the Note, and then to the principal of the Note.
<br />4. Peiar Maetgaga sad Deeds of Trot; Cbargs; I.lem. 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 Treat,
<br />including Borrower's crovenants ro make payments when due. Borrower shall pay or cause to be paid all tortes.
<br />assessments and other charges, fines and impositions attributable to the Property which may attain a priority over this
<br />Deed of Trost. and Leasehold pavments or ground rents, if any.
<br />5. Haaard laanrawt~e. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured agains[ lass by fire. hazards included within the term "extended coverage", and such other hazards as Lehr
<br />may require and in such amounts and for such periods as lender may require.
<br />the insurance earner providing the insurance shall be chosen by Borrower subject to approval by (Roder; provided,
<br />that such approval shall not be unreasonably withheld. All insurance policies and renewals thereof shall be in a form
<br />acttptable to t-ender and shall include a standard mortgage clause in favor of and in a form acceptable to Lender.
<br />Lender shat) here the nght to hold the policies and renewals thereof, subject to the terms of any mortgage, deed oftrnst
<br />~K other secunty agreement with a ltrn which has pnarity over [his Deed of Trust.
<br />In the event of lass, Burrower shall give prompt votive to the insurance carrier and Leader. Lender may make proof
<br />of loss if nut made promptly by BorcOwer.
<br />[f thr Property is abandoned 1?y Burrower, or il' Bortower fails to respond to L.enrkr within 30 days from the date
<br />notitt is mailed hr Lender to Borrower that the insurance cazrier offers to settle a claim for insurance benefits, header is
<br />authorized to crollert 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. Preaerratiaa std MafNeaawee of Peeperty: LeartsMlb; C•~Idtrmss PlYaed Udt
<br />Davelap~aals. Bor-
<br />rower shall keep the Property in good repair and shall oat commit waste or permit impairment or deterioration of the
<br />Property and shall comply with the provisi sns of any lease il'this Deed of Trust is on a leasehold. If this DCd1 of Trust Is
<br />av a unit in a condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under
<br />the dcelaration or covenants creating or governing the condominium or planned unit development, the by-laws attd
<br />regu{ations of the condominium or planned unit development. and constituent documents.
<br />7. PrataUaa of ledar's Saearity. IF Borrower faits to perform the covenants and agrcements contained in this
<br />Dcod of Trust, or if any action or prwveeding is commenced which materially affects I..endet'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 />maiatain such insurance in effect unttl such time as the regwrement for such insurance terminates in acvronlanee with
<br />Borrower's and L~ndrr'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. UNtss Borrower and Lender agree to
<br />other terms of payment, such amounts shall lee payable upon notice from lender to Borrower requesting payment
<br />tltereof. Nothing contained in this paragraph ?shelf require Lender to incur any expense or take any action hereunder.
<br />1{. ~tlra. Leader may make or cause to be made reasonable entries upon and inspections of the Property,
<br />provWed that lender shall give Borrower votive prior to any such inspection specifying reasonable cause therefor
<br />related [o lender's interes[ rv the Propeny.
<br />9. Caadrtaaatian. The proceeds of any award ar claim for damages, direct ar consequential, in cannecfion with
<br />any catsdemnation or other taking ttf ttte Property. or part thereof, or fw coaveyance in lieu of condemnation, are
<br />hereby assigned and shall be paid to finder. subject to tbe trims of avy mortgage. decd of trust or other security agree-
<br />mcnt with a Ike which has priority over thu [kod of Trust.
<br />10. saerawer Nat Rdnred; Farbearaaoe By Leader Nat a Walm. Fartension o€' the time far payment of
<br />maiificatiaa of amortizatiaa of'the soots secured by this Deed of Trust granted by IRndet m any successor in interest of
<br />Borrower shall not operate to reloasc, in avy matttter. the liability of the origins! Borrower and Borrower's successors in
<br />interest. Leader shall not be required tv commence prtxeedings against such successor ar refuse to extei time fur pay-
<br />ment of otherwise modify amortization 0f the sums secttrtxt by this Decd of Trust by reason of any demand made by the
<br />ortgieat Borrower and Borrower's successors in interest. Any fnrfxarance by Lender in exercising any righ[ or remedy
<br />Irerrutuler, yr otherwise atTordoel by applicable law, shall not be a waiver of or preclude the exrrcesr 0f any such rsght or
<br />remedy.
<br />11• ~ awl AtWYtrs 8+raadt hint rued ~reral ldahiliryt <'a-sigwen. The .Y>vrnants and agrt~entents
<br />ttrreut c+mtaitrrf shall txrtd. and tkre rights hcreurtder shelf inure to. the rrspectttr surccssxrta and asaig~ps pf.lcndrr and
<br />Bomaw,ss„ subjt~t rc+ the provisions of paragraph 16 hereof. All t~0vcvants anti agreements of ttorruwer'ahai3 ire ;.,iv4 avd
<br />c€vwdxJl. Auy Liorn~et who eu~aagns this L>eed cA' Trust, bmt dt~s~ 004 rxcc-~m the Nntr, is 3 is c~> ssgvivyi tttrx l?ec~i .=t [ ntse
<br />to (Front a9d zvusvgry tfkat lkxrrcewpr~s tvtcrrss iv t~ prvperrv to 1-rustre under the t9xms +,Y tit es [k't~t .±f t: use.'P--~ is
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