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r 83- 005896 If Borrower pays Fund~ 10 Lender. lhe Funds shaIl be held in an inslitution Ihe deposits or accounts of which are insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said laxes. assessments. insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account or verifying and compiling said assessments and bills. unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing at Ihe time of execution of this Deed of Trust that interest on the Funds shall be paid t08orrower. and unless such agreement is made or applicable law reGuires such interest to be paid. Lender shall not be required 10 pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower. without charge~ an annual accounting.ofthe Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Deed of Trust. If the amounl of the Funds held by Lender. together with lhe future monthly installments of Funds payable I'riorto Ihe due dates of taxes. assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes. assessment~, insurance premiums and ground rents as they fall due. such excess shall be. at Borrower's option; either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amounl of the Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they faU due. Borrower shall pay 10 Lender any amount necessary to make up the deficieney in one or more payments.asLender may require. Upon payment in full of all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by Lender. Lender shall apply. no later than immediately prior to the sale of Ihe Property or its acquisition by Lender. any Funds held by Lender al the time ofapplication as a credit against the sums secured by this Deed of Trusl. 3. AppllcatIoa of Pa,..... Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs I and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof. then to interest payable on the Note. and then to the principal of the NOle. 4. PrilIl' M-.... aad Doeck of T_t; Charps; u.s. Borrower shall perform all of Borrower's obligations under any mortgage, deed of trust or other security agreement wilh a lien which has priority over Ihis Deed of Trust. including Borrower's covenants to make payments when due. Borrower shall payor cause to be paid all taxes. assessments and other charges, fines and imposilions attributable to Ihe Propeny which may anain a priority over this Deed of Trust. and leasehold payments or ground rents. if any. 5. H-.I ~ Borrower shall keep the improvements now existing or hereafter erected on the Propeny insured against loss by fire. haurds included within the term "enended coverage". and such other hazards as Lender may require and in ~uch amounts and for such periods as Lender may require. The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender: provided. Ihat such approval shall not be unreasonably withheld. All insurance poliCies and renewals thereof shall be in a form acceptable to Lender and shall include a standard mortgage clause in favor of and in a form acceptable to Lender. Lender shall have the right to hold the polic.es and renewals thereof. subject to the terms of any mortgage. deed of trust or other security agreement with a lien which has priOrtly over this Deed of Trust. In the eoenl of loss. Bo..-er shall give prompt nOllce to the in.urance carrier and Lender. Lender may make proof of loss if nol made promptly by Borrower. If the Propeny is abandoned by Borrower. or if Borrower fails to respond to Lender within JO days from the date norice is mailed by Lender to Borrower that the insurance carner olfe" to settle a claim for insurance beneHts. Lender is authorized to <..vUect and apply the in~urancc proceeds at Lender's -option either to restoration or repair of the Property or to the sum. secured by thlli Deed of TruS!. 6. ~_ uti M__ of Propertyt Leueboldo; Condominiumo; Planned Unit Developments. Bor' rower shall keep the Property 10 good repair and shall not comml! waste or permit Impairment or deterioration of the Property and shall comply with the provisions of any lease I[ this Deed of Tlu>! IS on a leasehold. If this Deed of Trust is on a unit in a condominium or a planned unit development. BOlTowet shall perform all of Borrower's obligations under the declaration or covenants creating or governing the condominium or planned umt development, the by-laws and regulations o[the condominium or planned unit development. and conslltuent documents. 7. ~ of LendH'o Sec1ui11. If Borrower fails to perform the co"enants alld agreements contained in this Deed of Trust. or If any action or proceedlDg is commenced "hi<'h materially allects Lender'> interest ill thc Property. then Lender. at Lender's option, upon notll'e to Borrower, may make such appearances, disburse such sums, including reasonable anorneys' Res. and take such action as is necessary to protect Lender's interest. If Lender reqUired mortgage insurance as a condition of making the loan secured by thIS Deed of Trust, BOlTower shall pay the premiums required to maintain such insurance- in eft'ect until such lime as the requirement for such insuram..~e terminates in accordance with Borrower's and Lender's wrilten agreement or apphcable law. Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the Note tate. shall become additional indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment. such amounts shall be payable upon Ilollce from Lender ll> Borrower requesting p )ment thereof. NOIhing contained in this paragraph 7 shall require Lender to incur any e.pen'" or take any action hereunder. a, 1BIpeedMl. Lender may make or cause to be made reasonable entries upon and inspections of the Property. ptovided that Lender shall give Borrower notice prior to any such inspection spec.fi.ing reasonable cause therefor related to Lender's interest in the Property. 9.. C 1111111 ~.. The proceeds of an)' award or claim for damages. direct or ronsequentiaL 10 connection wit,h any condemnation or other taking of the Propeny. or part thereof. or for conveyance in lieu of c'ondemnation, are hereby assigned and ,hall be paid to Lender. subje<:t to the terms of an) m,mgage. deed of trust or other security agree. _nt with a lien which has priority over this Deed of Trust. 10. iIarro>ww N. .RtoIeMed; F~ By "-du Noc . Waiver. ExtenSIon of the time for payment or modifkation of amortization of the sums =ured by this Deed of Trust granted h, lender to any. successor 10 interest of Bortowershall Dot operate to release. in any manner. the Iiabihty 01 the onginal Borrower and Borr"wer'. successo" in interest. Lender shall Dot be required to commell<'e pr",,-ecdings against such ,uCI."""sor or ",fuse 10 extend time for pay. D\lml <>4' otherwise modify amortization of the .ums secured by this Deed of Trust by re..on ot any demand made by the oriCinalllom>o!er and Borrower', succeuon in inte""t. Any forbearancc by Lender 10 exerclSlllg an.' nght or rem<'<iy ~.l>folhawiM "fforded by applicable law. shall not be a ..a,,'er of "r predude the .serClSe ,jl al" such tight or l'CmlIldy. U. __n _ AaIpo a-dl Jolal ad Se...... UablUly; C.....i....". The "',cn""IS 'lOd "~r,'el1lenl> ~i.n cunUi~ mati bind. and the ri~t~ berntndef \haH .nuN to. (he re\f>'Cclwe -'-UCl'<t;'''O'' .lnd .h....ljUh \\1 Lender Jilt.! 8of1"OWf:t. \ubFt (0 the provblQnS of pa.fA..Nf'aph t6 ht'ff;'oL All i,'o'rrfia.nh and a~r<<me-nh I.H ~JffO"'t't ..hall t"t fi.JUlI and \.e\'er-at. Any Mof1'~tt _hutiJ"\lgnli tou. i)ee:d ufTrust, hut doe!\; twt e"~,e"Ult" th(' ~nt~.l.l.i fS \.'\1-\1~t\lf1.z lhi, ~'iI nt lru\t ~mty h) gta.nt ...ud (."'\m~'e"Y :that 8or:h,wr(.!< int.;n:M H'). the r't"tl(XM:'1 k TnhH."'\' Lto~Jn thi:' t~~n~h l.)f th!..: 1J\"('d \f! rnut. it-I t)