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<br />83- 006628
<br />applicable law requires such interest to be paid, Lender shall Dut be required to pay Borrower any interest or earnings on the Funds. Lender shall
<br />give lO Borrowe!. without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each
<br />debit [0 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, together with the future monthly installments of Funds payable prior to the due dates of taxes.
<br />assessments. insurance premiums and ground rents, shall exceed the amount required to pay sai,d taxes, assessments. insurari~:_premiums and
<br />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-
<br />installments of Funds. IT the amount of the Funds beld by Lender shall not be sufficient to pay taxes, assessments, insurance premiul11s and
<br />ground rents as they fall due, Borrower shall pay to Lender any amount necessary to make up tbe deficiency within 30 days frOOlthe,date notice
<br />is mailed by Lender to Borrc.wer requesting payment thereof.
<br />Upon payment in full of all sums secured by rhis Deed of Trust, Lender shall promptly refund to Borrower any,Funds beld.bl'Lender. If
<br />under paragrapb IS hereof the Property is wid or the Property is otberwise acquired by Lender, Lender sball apply, n!> later tban'inUnediately
<br />prior to the sale of the Property or its acquisition by Lender. any Funds held by Lender at the time of application as a credit- agah\st_tbe~sums
<br />secured by this Deed of Trust.
<br />3. Applkadoa of Payments. Unless applicable law provides otherwise, all payments received by Lender under the Note andparagrapbs 1
<br />and 2 hereof shall be applied by Lender first in payment of amounts payable '0 Lender by Borrower under pantgTapb 2 hereof, then to interest
<br />payable on the Note, then to the principal of the Nott, and then to interest and principal on any Future Advances.
<br />4. CIwtl"': lJea5. Borrower shail pay all taxes. assessments and otber cbarses, fines and impositions attributable to the Property wbit:b '
<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. hereOf
<br />or, if not paid in .such manner, by Borrower making payment. when due, directly to the payee thereof. BOrrower shall promptly fumisbto_
<br />L.ender all notices -of amounts due under thiS paragraph, and in the event Borrower shall make payment directly, Borrower shall p~ptly
<br />furnish to Lender receipts evidencing such pa~'ments. Borrower shall promptly discharge any Hen which has priority over this Deed.- of Trust;
<br />provided, that Borrower s.hall not be required to discharge any such lien so long as Borrower shall agree in writirig to the payment of-the
<br />obligation secured. by su-ch lien in a manner acceptable to Lender. or shaH in good faith contest such lien by, or defend enforcement of such lien
<br />in, legal proceedings which operate lO prevent the enforcement of tht lien or forfeiture of the Property or any part thereof.
<br />S. Huard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire,
<br />hazards included ~1thin the term "extended cO'o'erage". and such other hazards as Lender may require and in such amounts and forsucb periods.
<br />as Lender may require; provided. that Lender shall not require that the amount of such coverage exceed that amount of coverage required to pay
<br />the surn.~ secured by this Deed of Trust.
<br />The insuran<.'e carrier providing the insurance 'ihall be chosen by Borrower subject to approval by Lender; provided~ that such-approval
<br />shall not be unreasonably \lo;chheld. All premiums on in!turancc policies shall be paid in the manner provided under paragraph.z hereof or, if not
<br />paid in such manner, by Borrower making payment. when due. directly to the insurance carner,
<br />.0\.11 insurance policies ami renewals: tbtreof shaH be in form acceptable to Lender and shall include a standard mortgage clause in fa'Yor of
<br />and in form alXC'plablt to Lender. Lender :shall have the T1i!ht to hold the policies and renewals thereof. and Borrower shall promptly furnish to
<br />I ~ender all renewal notice5 and all nxeipu of pau! premiulTl.'I. In the event of loss. Borrower shall give prompt notice to the insurance carrier and
<br />Lender. Lender may make proof of los.:o> If not made: promptiy by Borrower,
<br />UnJC$S Lender and Borrower othCfWise agree 111 writing. insurance proceeds shall be applied to restoration or repair of t _c Property
<br />damaged, provided such restoration or repalr is economically feasible and the security of this Deed of Trust is not thereby impaired. If such
<br />restoration or re-pan is not ~nonucaJly feasible or if the so..-unty of this Deed of Trust would be impaired, the insurance proceeds .:~ be
<br />applied to tb~ sums. SC;.'Urcd~:.' this Deed of TrUSl. with the e"~, if any. paid to Borrower. If the Property is abandoned by Borrower~ or if
<br />Borrower fam to respond to Lender vmhln 30 days from the dale DOUce is mailed by Lender to Borrower that the inswance carrier offers to
<br />settle a claim for imurance bendits, Lender ~ authorized to collect and apply the insurance proceeds at Lender's option either to restoration or
<br />repair of the ProperlY or to the sums s<<un:d by this; Dc:ed of Trust.
<br />Unless- Lender and Borro\\'e-r otherwise agra- in writing:, any such appliL-alion of proceeds to principal shall not extend or postpone the due
<br />date of the monthly installments referrnt to in para,graphs I and 2: hereof or ;;hange the amount of such installments. If under paragraph 18
<br />hereof tbe Property is CK"Quin:d by Lender. all right. title and interest of Borrowtf in and to any insurance policies and in and to the proceeds
<br />thereof resulting from damaie to the Property prior to tbe sale or acquisition sball pass to Lender to the extent of tbe.ums secuted by this Deed
<br />of Trust inuue<liately prior '0 such sale or acquisition.
<br />6. "'-""doll'" !IIola__ of ~: LeuolIoIdI; ComIomlal_: PInDod Ualt Dndo_tl. Borrower sball keep the
<br />Property in good tepaU- and shall not commit wastt or permit impairment or deterioration of the Propeny and shall comply with the provisi~ns
<br />of any leaK if this Deed ofTrusl lS on a leasehold. If this Deed of Trusl is on a unit in a condominium or a planned unit development. Borrower
<br />shal1 perform all of Borrower's obliptions under tbe declaration or t'Ovenants creating or governing the condominium or planned unit
<br />dewloptnent, ,he by.law. and r"llulations of the condominium or planned unit d""elopment, and constituent documents. If a condominium or
<br />pIanncd unit development rider is ......uted by Borrower and recorded together with this Deed of Trust, tbe covenants and agreements of sucb
<br />rider shal1 be incorporated into and shal1 amend and supplement the covenants and agreements of this Deed of Trust as if tbe rider were a part
<br />hereof.
<br />7. l'n>tettIoa of LesIdor'. _!y. If Borrower fails to perform tbe covenants and agreements contained in this Deed of Trust. or if any
<br />action Of pt\X'CC'diOl IS commenced which materia.l.ly affects- Lender's interest in the Property. including, but not limited to, eminent domain.
<br />iasotv-mcy, (-ode enfon:ement, or arrangements Of proceedings m....olvina a bankrupt or decedent. then Lender at Lender's option. upon notice
<br />to Borrower. may mak~ sudl a.ppearanc.es, disbune such sums and tat such action as is necessary to protect Lender's interest, inclucli.tt& but
<br />not llmited to, disbursement of reasonable altorney'. fees and entry upon tbe Property to make repairs. If Lender required mortgage insurance
<br />as a condition of making the loan secured by this Deed of Trust. Borrower sball pay tbe premiums required to maintain sucb insurance in effect
<br />lJDtil such time as the requlranent for such insuranex terminates. in accordance with Borrower's and Lendcrts written agreement or applicable
<br />law. Bor"""", shall pay the amount of all mort_. insurance premiums in the manner provided under paragraph 2 hereof.
<br />Any _ disbursed by Lender pursuant to this _ph 7. with imerest thereon. sball become additional indebtedness of Borrower
<br />-"" by this Deed of Trust. Un1ess Ilorrowor and Lender acroe to other '<rIllS of payment, sucb amounts shall be payable upon notic.. from
<br />LeAder '0 Ilotr....... teq_ting payment tben:of. and ,ball bear interest from tho date of disbursement at the rate payable from time to time on
<br />~ prlnciplll tinder the Not. unless payment of interest at such rate would be contrary to appli.:ablelaw, in whicb e.~t .ucb amounts
<br />shal1 bear inmost at Iho bipat rate pmnisIiblo under applicable law. NOthing contained in ,bis parqrapb 1 shall require lender to incur any
<br />_or .w_lI(tion bemIllder.
<br />.. ,--". l...... may ~ or ca.... to be made ,.....,ubl. entms upon and inspections of the Property, provided tbat tender .hall
<br />JI"" 1Ior_ -":e prior 'n _11Ich ~'tion ,peelf."... ""oMbl. cause tbet<ofot rolated to Lender', int.....t in the Property.
<br />t. (', ~ ldlll Th::e- ~ o-f an)' a'WV4 Qr claim for darnqes. direct or coosequmti1l1. in c(.\nnel.'1ion with any (:ondemlll.tlon or
<br />~ U!li,,,,* of rbe I'lopert., ... part t.'>weof, or fot coo\li>yallt'C In fu!u of ron<lemnation. at< bet<oby auiped and .mall be paid to Lwder.
<br />In 'M_. <>f. ,<>tal tak~ ot tl>< "'-'y. the pc",*," >hall be applifll to the .um. ....'Ured by 'bis Deed "f Trutt. "i,b tb. e.""'s. if an~'.
<br />l'lIicIlO~. lntl><..tnt <>f a partW u.klna of the J>roporty. un'- Borro"etand l<nd.tt otbefw....~ in w,itiOlt. there shall be applied
<br />to- tlK- _~ ~ ~y t~ {~ ot.'fru.:ft '-\tf;Ib tm,pOTtltm of the pr~ a!- ~~ t.qwUlO fhll rt't'tponjofl which the Ilnlount of th~ sum! ~ured
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