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<br />84- 002784
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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 Tcust.
<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 said taxes. assessments, insurance premiums and
<br />ground rents as they fall due, such e~cess shall be. at Borrower's option. either promptly repaid to Borrower or credited to Borrower on monthly
<br />installments of Funds. Ir tbe amount of tbe Funds beld by Lender sball 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 rull of all sums secured by this Deed of Trusl, 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 acquisition by Lender, any Funds held by Lender at the time of application as a credit qainst the sums
<br />secured by this Deed of Trust.
<br />), App'kIIdon of Paymenls, Unless app~cable law provides otherwise. all payments received by Lender under Ihe NOle and paragraphs I
<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. Chaq:a; Lieu. Borrower shall pay an 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 />Lender aU notices of amounts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly
<br />furnish to Lender r~eipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Deed of Trust;
<br />provided, that Borrower shall not ~ 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 lieD
<br />in, legal proceedings which operate to prevent the enforcement of the lien or forfeiture afme Property or any part thereof.
<br />S. Hazard IDlUrallCe. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by rll'C,
<br />hazards included within the term "extended coverage", and such other hazards as lender may require and in such amounts and for such periods
<br />as Lender may require; provided. that Lender shall not require that the amount of such coverage exceed that amount of coverqe'requircd: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 wi.thheld. All premiums on insurance policies shall be paid in the manner provided under parqraph 2 hereof or J 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 Lender .md shall include a standard monaaae 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 shall promptly fumish-:to
<br />Lender all renewal notices and all receipts of paid premiums. In the event of loss, Borrower shall give prompt notice to tbe insurance-Wricir-,aDd
<br />lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in wrilina. insurance proceeds shall be applied 10 restoration or repmr oUhe:~ Propcrqr
<br />damlllled, provided such restoration or repair is economically feasible and the security of this Deed of Trust is not thereby im....dhucb
<br />restoration or repair is not economically feasible or ir the security of this Deed of Trusl would be impmrcd, the m.ur- proOeecIa;lbaIl,be
<br />applied to the sums secured by Ihis Deed of Trust. wilh Ihe excess, if any, paid 10 Borrower, If the Property is abudoned by ~". nrjf 'e,
<br />Borrower rails to respond to Lender within 30 days from the date notice is mailed by Lender to Borrower that tbe ins_,~.offen}O
<br />settle a claim for insurance benefits, Lender is autborized 10 collect and apply the insurance proceeds at Lender's option ei1hei' to ~Or"'~
<br />repair of the Property or 10 the sums secured by this Deed of Trusl. ~
<br />Unless Lender and Borrower otherwise agree in writina. any such app~cation of proceeds 10 principa1.shaltnotQtendC)l\~~clue
<br />date of the monthly installmenrs referred 10 in paragraphs I and 2 hereof or cbllDlle the amounl of sueb ~...If u.ncltr~~'l( "
<br />hereof the Property is acquired by Lender. all riabt. title and inleresl of Borrower in and 10 any inauran<e ~:anc\in~"'iH!l'~~?,~,
<br />thereof resultina from dama&e to Ihe Property prior 10 lbe sale or acquisition shall pass 10 Lender 10 the extent of the._~~tiy:",~","
<br />of Trust immedialely prior 10 such sale or acquisition,
<br />6, ~1Ioa.... Mala_ of~; 1.-IIoIlk; CO....Iala1_;......... Vall Dn....J..I..~.~.~i........
<br />Property in good repair and shall nol commit wasle or permi~ impairment or deterioration of the ~anc\ 1haII~.w1"'~:~,,"
<br />of any lease if lhis Deed of Trusl is on a leasehold, If this Deed of Trust is on a unit in a condominium o~ a ~W!ihle~"~II!~l!!I!'~~lI'!IlII'
<br />sball perform all or Borrower's obliptions under the declaration or covenanlS creatioa Qr loverniq the~.i!f.:pl~.i.~
<br />developmenl, Ibe by-laws and rcaulations of the condominium or planned unll development, and COIIStit~~iU~~.~
<br />planned unit development rider is execUled by Borrower and recorded toaethcr with this Deed of TlUIl. the COVCll8ll!S anc\~~"jJf",~
<br />rider shall be incorporaled into and shall amend and supplement the covenants and qreemcnts of thbDeed of Tr!ut...ifthe.lidi!r.,"~'Il.~
<br />hereof.
<br />7, Pro_a of Leader'. Security, If Borrower fails to perform the covenants and qreemeots con~ htthis DeecI.of Tmat"<!,,.ifllliY
<br />aclion or proceedi... is commenced which materially affects Lender's interesl in the Property. inc:ludi....bul not Iimitell to,emiI1ent~"
<br />insolvency. code enforcement, or arrangements or proceedinas involving a bankrupt or decedent, then Lender at Lender's oPtion. ;u~-:.
<br />10 Borrower. may make such appearances. disburse such sums and take such action as is necessary to protect Lender', q,tetat, int:IJIdiq.!Rl1
<br />nOllimiled 10. disbursement of reaso..ble attorney's fees and entry upon the Property to make repain, If Lender requiredmOI'l,,,,,dnl'!hII"C
<br />as a condition of maltina Ihe loan secured by rhis Deed of Trust, Borrower shall pay the premiums required to maintain such i.nsi!fan<eiriefl'~,
<br />until sucb lime as Ihe requiremenl for such insurance terminales in accordance wilh Borrower's and Lender's written qreementoiaP,pUc:able
<br />law. Borrower shaIJ pay the amount of all mort&lllle insurance premiums in the manner provided under par"""",, 2 hereof.
<br />Any amounts disbursed by Lender pursuanr to lhis paragraph 7, with in~erest thereon. shall become additional indeblcdl\tss of Borrowc:r
<br />secured by this Deed of Trusl, Unless Borrower and Lender IIJI<< to other terms of payment, such amounts sha1I be payabieupon nOlk:tfrom.
<br />Lender to Bortower requesting paymenl therror. and shall bear inlerest rrom the dale of disbursement at the rale payable from time tQlirne .Qn
<br />outstandi... principal under lhe Note unless payment or inlerest at such rate would be contrary 10 applicable law. in wl\iCh eVenl sucb ....oun~
<br />sha1I bear interest at the highesl rale permissible under applicable law. Nothina contained in this parqrapb 7 sha1I require Lender ~O incu.rllDY
<br />ex~ or take any action hereunder.
<br />. I. laIpedIoa, Lender may make or cause to be made reasonable entries upon and inspections of the ProperlY. provideol that Lender shall
<br />give Borrower nOlice prior 10 any sucb inspection speclfyina r....o..ble causolherefor related to Lender's in~erC$t in the Property,
<br />9. ColldaaNdoa, The proceeds or any award or claim for damlllles. direct Of consequential. in connection with any condemnation or
<br />other takina of the Property. or part thereof. or ror conveyance in lieu or oondomnation, are hereby assianed and sha1I be paid 10 Lender.
<br />In the even! ofa t<>tal takina of lhe Property, tb. proceeds sballb< applied 10 rbe ,urns secured by llUs Deed ol'Trust. with the excess, jr any,
<br />paid to Borrower, In the event 01' a parrial takina of the Property. unle.. Borrower and l"nder otherwise agree in ",ntina, rhere shall be applied
<br />tQ tm: !uou Secuf~ by thb Deed oJ Trust :sueh propor[lon of the pr~ as b equal t,o tbAt prOporti(lt! whkh the amount of the 1mn:s secured
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