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<br />83- l)u6802
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<br />applicable law requires such interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall
<br />give to Borrower 1 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, 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, insur.an.ce premiums and
<br />ground rents as they fall due, such excess shall be, at Borrower's option, either promptly repajd to Borrower or credited to Borrower on monthly
<br />installments of Funds. If the amount of tbe Funds held by Lender shall not be sufficient to pay taxes, assessments. insUl8llCC premiums. and
<br />ground rents as tbey fall due, Borrower shall pay to Lender any amount n~-"~sa.ry to make up the deficiency within 30 days from-the date.notice
<br />is mailed by Lender to Borrower requesting payment thereof.
<br />Upon payment in full 01' ali sums .ecured by this Deed of Tn..., Lender shall promptly refund to Borrower any Funds held.by Lender,lf
<br />u..'1der paragraph 18 hereof the Property 1S sold or (he Property is. otherwise acquired by Lender. Lender shall apply, no later than immediately
<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 against the s\ims:
<br />secured by this Deed of Trus!.
<br />3. Application of P8yments. Unless applicable law prmrides otherwise. all payments received by Lender under the Note and paragraphs 1
<br />and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under paragtaph 2 hereof. then to interest
<br />payable on the Note, then to the principaJ of the Note, and then to interest and principaJ on any Future Advances.
<br />4. Charxes; Ueus. Borrower shaH pay aU taxes. assessments and other charges. fines and impositions attributable to lhe- Property which
<br />may attain a priority over this Deed of Trust. and leasehold payments or ground rents, if any, in the manner proYidcd under pai-agraph-2-l!ereof
<br />or. if not paid in such manner, by Borrower making payment. when due. directly to the payee thereof. Borrower shall_promptly furnish-to
<br />Lender all notices of amounts due under this paragraph. and in the event Borrower shall make paymem directly, Borrower shall promptly
<br />furnish to Lender receipts evidenCing such paymems. Borrower shall promptly discharge any lien which has prioriry over this Deed of TrUst;
<br />provided. t.hat Borrower shaU nor be required to discharge any such lien so long as Borrower shall agree in writing to the payment of the
<br />obligation secured by such lien in a manner acceptable to Lender. or shall in good faith contest such lien by, or defend enforcement of such lien
<br />in. legal proceedings which operate 1.0 prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />S. Huard Insun:oa. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by rue.
<br />hazards included within the term "extended coverB.3e". and such other hazards as Lender may require and in such amounts and for such periods
<br />as Lender may require; provided. that Lend~r shaU not require that the amount of such coverage exceed that amount of coverage required to pay
<br />the sums secured by lhis Deed. of Trust-
<br />The lnsurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided, that such approval
<br />shall not be unrea.wnabiy ""'lhheld. All premiums on insurance policies shall be paid in the manner provided under paragraph 2 hereof or. if not
<br />paid 10 such manner. by Borrower making payment. when due, diro::tly to the insurance carrier.
<br />AU insurance policies and renewab thereof shall he in form acccptabL: 10 Lender and shall include a standard mortgage clause in favor of
<br />and in form acc-eptable to LendcL Lender shall have the nght (() hold the poikies and renewals thereof. and Borrower shaJl promptly furnish to
<br />Lender aU renewal notices arid all ret..'~ipts 01 pa.id premium:'). in the event of loss, Borrower shall give prompt notice to the insurance carrier and
<br />Lender, Lender may make prot..lf of lo:}!:; If not made promptly by Borrower.
<br />Unless Lender and Borrower othnwise agree in writing, insurance proceeds .shall be applied to restoration or repair 01 the Property
<br />damaged, provided such restoration or repair is economll':aJly fea~abJe and the security of this Deed of Trust is nOl thereby impairt!d. If such
<br />restoration or repair is not economically feasible or if the security of this Deed of Trust would be impaired. the insurance proceeds shall be
<br />applied 10 the stuns securM b)' thi~ Deed of Trust, with the exc~, if llny. paId to Borrower. If the Property is abandoned by Borrower. or if
<br />Borrower fails to rltSpond to Lender within 30 days from [he date notice is mailed by Ltndcr to Borrower that the insurance carrier offers to
<br />settle a claim for msurafi(..'C" ~fits. lender is aUlhori7.t'd to collect and apply the: insurance proceeds at Lender's option either to restoration or
<br />repair of the Property or tQ the sum~ secured by this Deed of Trust.
<br />Urness Lender and Borro....el otherwise agree In writing, any such application of proceeds to prlndpal shall not extend or postpone the due
<br />date of the monthly installmems referred 10 in paragraphs I and 2 hereof or chan&e the amount of such installments. If under paragraph 18
<br />hereof the Property is acquired by l-endc-r 1 an right, title and interest of Bon-ower in and to any insurance poliCies and in and to the proceeds
<br />thereof resulting from danuiae to the Property prior to tbe sale or a.'Quisition shall pass to Lender to the ..tent of the sums secured by this Deed
<br />of 1'tmt immediately prior to sw::h sale or aC'luisitiOIl.
<br />6. .........atI........ Mala.......... of I'roporty: 1__: COD~.""1 PInned Unit De.elopmealt. Borrower shall keep the
<br />Propeny in good repair and shall nOl oommit wute or permit impairment Or deterioration of the Property and shall comply with the provdions
<br />of any lease If this Deed of Trust I~ on a lasehold. If this Deed of Trust is. on a unit in a condominium or a planned unit development. Borrower
<br />shall perform aU of Borrower's obbgations under the deciaration or covenants creating or governing the condominium or planned unit
<br />development, the by~laW$ and regulations of the condomiruum or planned unit development, and constituent documents. If a condominium or
<br />p1anncd unit development rider is executed by Borrower and recorded together with tlUs Deed of Trust. the covenants and agreements of such
<br />rider .baIl be incorporated into and ShalllUllend and supplement the co.enants and agr.......nts of this Deed of Trust as if the rider were a part
<br />hereof.
<br />1. Protectioe of Leader'. Seatrtty. J( Borrowcf (ails to perform the covenants and agreements contained in this Deed of Trustl or if any
<br />action or proceediIl8 is l."Ommenced which materially affects Lender's interest in the Property. includina, but not limited to. eminent domain,
<br />insoh.'Cnq. code- enforcement, or arrangements or proceedings invotvltlj a bankrupt or decedent, then Lender at lender's option. upon notice
<br />to Borrower. may make such appearances. disburse such sums and take such action as is necessary to protect Lender's interest, including. but
<br />not limited to. disbursement of reasonable attorney's fees and entry upon the Property to make repairs. If Lender required mort,q-c insurance
<br />as a condition of m-akinl the loan s<<ured by this Deed of Trost. Borrower shall pay the premiums required to maintain such insurance in effecl
<br />until sum time ti the requirement f-or such insUlaoce lermi.Ualei in accordance with Borrower's and Lender's written agreement or applicable
<br />law. Borrow-er s.haU pa;y the- aItlOunt of aU mort&agc ins.uraru::e premiums in the manner provided under P8Casraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paraaraph 7, with interest thereon. shall become additional indebtedness of Borrower
<br />- by thi$ Deed of Truot. Uni_ Borro...... and Lender aar... to other terms of payment, n1ch amounts .haIl be payable upon notice from
<br />Lender 10 BcKr-ow;er ft',que:sl.l..aa P4_ynlCnL thereof. and sball bear inteI~l from the date of disbursement at (he ratc payable from time to timt: on
<br />~ pri-JN;ipa! under the Nole unless payment of interest at: sl.ilo':h rate would be c-onttar-y 10 applicable law, in wb.iclt event such amOUnts
<br />WI! beer. mter... at ,be hishost rate permiuible onder applicable 10.., Nothina contained in this paragraph 7 shall require Lender to incur any
<br />~ '" tmany """Ion here..nder.
<br />., ~ Len4eJ may lOm or cause to be tlllOde ,eaoonable enlties upon and in>pections 01' the Property, ptovided that Lendet shall
<br />lPve Qerrowu ~ prlo< to ill>y 'u<b ifl.'IlOCl1on ,podfyina '_ble ca.... therefor rel.sed to Lender', interest in tbe Property.
<br />9. Cfillld v IU".. The -PfiX,'f:Cd.-s (If ttny award or clai-m for datn..~" dJ.r~1 Of consequential. 10 {;Onne\:t.lQfi Wilb any "ondemnation or
<br />(MNf W-l-na tJ.ftM Ptt)ptfty. or part tbit"~'ud', or (or ~'Qf}-.eyAn.cejn lieu (,II' c.()fKkm~.H:ltiQIi.li1e hereby ass~gfied and shall Pt- paid to Lendt"f.
<br />:n dMi_ tv\$l (~* l~ trtittJ 0.1. tM-Pt~y. (h~ plQ\.'t;lelb shAJJ bot applit'ld to tm wm$ ~ufed by this rH:ed of Trust. -.1th the c,,'"t's~. if any.
<br />~ f-O DotrQ<W-.tt-. fn. f~ ~Mf or a pattilJ tii\ll:kinl ~f Ute- .t.f~ty, unw 8ort~'d and t.t"ndet ot,h~'ld ~gree In writintl, lbC'l'c- thaU ~ ap-r>>i-ed
<br />~..:. fk ~_ *"*"<<i by thi" I~ {Jf Tf~t 't+\:h p-',;)portioo of _t~ p.tQ(~ ~$ t.1i ~lJAll~~ tn.l p'f(I'J)ortion wh!\:h 1m. amOUtH of the ~u-ms ~",-lJrN
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