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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, without charge. an annual accounting of the Funds showing credits Clod 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 furure monthly installments of Funds payable prior to the due dates of taxes,
<br />asse..<;sments. insurance premiums and ground rents, shall exceed the amount required to pay sa.ld taxes, assessments, insurance 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. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments. insurance premiums and
<br />ground rents as they fall due, Borrower shall pay to Lender any amount necessary 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 of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any Funds held by Lender. If
<br />under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply. no later than immediately
<br />prior to the sale of the Property or its acquisi[ion by Lender, any Funds held by Lender at the time of application as a credit against the sums
<br />secured by this Deed of Trust.
<br />3. AppUcadon of Payrnents. Unless applicable law provides 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 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. Cb.lIes; Liens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which
<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 furnish to
<br />Lend~r aU notices of amounts due under this paragraph. 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 lien which has priority over this Deed of Trust;
<br />provided, that Borrower shall not 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 shaH in good faith contest such lien by, or defend enforcement of such lien
<br />in, legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />S. Hazard Insunnce. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by rltC,
<br />hazards included within the term "extended coverage", and such other hazards as Lender may require and in such amounts and for sucb 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 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 such approval
<br />shall not be unreasonably withheld. All premiums on Insurance policies shall be paid in the manner provided under paragraph 2 hereof or, if not
<br />paid in such manner, by Borrower making payment. when due, directly to the insurance carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lende.l and shall include a standard mort8aae clause in favor of
<br />and in form acceptable to Lender. lender shall have the right to hold the policies and renewals thereof. and Borrower shaH 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 and
<br />Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the_Property
<br />damaged, provided such restoration or repair is economically reasible and the security of ~his Deed of Trust is not tbereby impaired, If sUI:h .
<br />restoration or repair is not economically reasible or if the security of this Deed of Trust would be impaired.lbe ins_.~sballbe
<br />applied to the sums secured by this Deed or Trus~, witb the excess, if any, paid ~o Borrower, If the Property is .budoned by JIorrowe(,.orif
<br />Borrower fails to respond to lender within 30 days from the date notice is mailed by Lender to Borrower thaI thein_c:amerc.often to
<br />settle a claim for insurance benefits~ Lender is authorized to collect and apply the insurance procceds.at Lcnder-'s option eitbef,to,Rit~~or
<br />repair of the Property or to the sums secured. by this Deed. of Trust.
<br />Unless lender and Borrower otherwise agree in writillll, any such application of proceeds to princ:ip.1shallDotexteDd.or ~Jhetlllll';
<br />date or the monthly installments referred to in paragrapbs I and 2 hereof or change tbe amount of sucb inslalbacnts, If undoIl,~,I'
<br />hereof the Property is acquired by lender, all rigbt. title and interest of Borrower in and to any insur...... poIicicaandin and~lOiJ,e'I,t~, ~O"
<br />thereor resulting from damage to the Property prior to the sale or acquisition shall pass 10 Lenderlo iJ,e extent ofthe.UDII....,..'bJ,.IJii(~;i;';'..
<br />oiTrust immediately prior to such sale or acquisition. . . .
<br />6. rr-n._.... MaI._ of ~; ~ CO____; ......... V.,OIUI J. '.' 'T,B'.:~O'!l""\'
<br />Property in good repair and shall not commit waste or permit impairment or deterioration of the PrOl*ly:~;IUll~:~
<br />of any lease if this Deed of Trust is on a leasebold, If this Deed of Trust is on a unit in a condominium \11". planQcdunit .. '. '
<br />shall perrorm all of Borrower's obligations under the declaration or covenants creatiDa or ....emiaa .the,l:CIIlIIcimiilil!a{i1t'
<br />development, the by-laws and regulations of the condominium or planned unit developmen~. and.constituent ~,Jf.., '
<br />planned unit development rider is executed by Borrower and recorded together with this Deed of Trust. iJ,e.IlO~''''
<br />rider sball be incorporated into and shall amend and supplemen~ the covenants and agreements of uu.. Deed ofTruslas if the:
<br />hereof,
<br />" Protection of Leader's _I)', If Borrower fails to perform the covenants and agreements contained iJj tlUs'~ot~:9J'I~",Y""
<br />action or proceeding is commenced which materially affects lender's interest in the Property, includina. but not Iimlteclto.~,~i:'
<br />insolvency, code enforcement, or arranaemcnts or proceedinas involvina a bankrupt or deccden., then Lt_ at ~~~_:,~,-.;,~~,~;-~
<br />to Borrower, may make such appearances, disburse such sums and take such action as is necessary to proleCl ~'. in~..jnci,~,Wt;,,:'
<br />not limited to, disbursement or reasonable attorney's fees and entry upon the Property to make repairs. If ~ requifed ' '. -"
<br />as a condition of mWIIll the loan secured by this Deed of Trust, Borrower shall pay the premiums requited 10 maintain IlICb. '
<br />until SUt;O lime as the requirement for stich insurance terminates in ~urda&.lO;;e \\i:h Borrower's and.L~'s- wri~ ~_'Ql:-,__~-'
<br />law, Borrower shall pay the amount of all mortgag~ insurance premiums in the manner provided underparqrapil 2 .C ~ . . ..
<br />Any amounts disbursed by lender pursuant to uu. paragraph 7. with interest thereon, shall becom~ additiot1allJiclc~of '~'f!:
<br />secured by this Deed of Trust. Unless Borrower and lender agree to other terms of paymen~, sucb amounl. .h.RIIe paya,ble.~~.~,
<br />lender to Borrower requestillll payment thereof, and shall bear interest from the date of disbwserneot at the r.te payal1lc;.ffOlll.\il!\e"clO .~:~'
<br />outstanding principai under the NOle unless payment of interestat such rate would be con~rary 10 applicable Iaw,in wbfc;h""eo~.\lc;h~'"
<br />shall bear interest at lhe highest rate permissible under applicable law, Nothillll contained in this paraarapb , sball require ~,IO'I!ll;lll:;"'y
<br />expense or take any action hereunder. ' ,
<br />. 8, lupeetioa. lender may make or cause to be made reasonable entries upon and inspectiON of the Property, provided lbatLeodel:.shaII
<br />give Borrower notice prior '0 any such inspection .pecifyiog reasonable cause therefor related to Lender's interest iJj tbe l'fOl*l)',
<br />9. CO........Uoa. The proceeds or any award or claim for damages, direct or consequential, in connection witb any coodclllnatiOl\ or
<br />other takina of 'he Property, or patt. thereof, or ror conveyance in lieu or condemnation, are hereby ..sillned and shall be paid to Lender.
<br />In the event or a total,akJng of the Property, the proceeds shall be applied to the sums secured by tlUs Deed of Trust, with the excess, if any.
<br />paid '0 Borrower, In tbe event or a partial takinll of the Property, unl... Borrower and l.ender otherwise agree in writi.., the<< shall !Ie applied
<br />to the sums Set..-'Ufed b-y this Deed of Trust such proportion of the prO\.-eeds as t'i; equal to- (hat pro-portion whicb the amount of the sums $<<ur-ed
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