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<br />84 - 002902
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<br />'.lttB~ }kys Funds to Lenuer, the Funds shall be held in an institution the deposits or accounts of which are
<br />insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply
<br />the Funds to pay said taxes, assessments, insurance premiums and ground rents, Lender may not charge for so holding
<br />and applying the Funds. analyzing said account or verifying and compiling said assessments and bills, unless Lender
<br />pays Borrower interest on the Funds and applicable law permits Lender to make such a charge, Borrower and Lender
<br />may agree in writing at the time of execution of this Deed of Trust that interest on the Funds shall be paid to Borrower,
<br />and unless such agreement is made or applicable law requires such interest to be paid, Lender shall not be required
<br />to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge. an annual
<br />accounting of the Funds showing credits and debits to the Funds and the purpose for whieh each debit to the Funds was
<br />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
<br />the due dates oftues. assessments. insurance premiums and ground rents, shall exceed the amount required to pay said
<br />taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option.
<br />either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the
<br />Funds held by Lender shall not be sufficient to pay tues, assessments, insurance premiums and ground rents as they fall
<br />due, Borrower shali pay to Lender any amount necessary to make up the deficiency in one or more payments as Lender
<br />may require,
<br />Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any
<br />Funds held by Lender, If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by
<br />Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any
<br />Funds held by Lender at the time of application as a credit against the sums secured by this Deed of Trust,
<br />3. Applil:alIoa of Pa~", Unless applicable law provides otherwise, all payments received by Lender under
<br />the Note and paragraphs I and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by
<br />Borrower under paragraph 2 hereof, then to interest payable on the Note, and then to the principal of the Note,
<br />4. PrIor M~ aDd 0.. of T....t; C......; LJena. Borrower shall perform all of Borrower's obligations
<br />under any mongage, deed of trust or other sp:urity agreement with a lien which has priority over this Deed of Trust.
<br />including Borrower's covenants to make payments when due, Borrower shall payor cause to be paid all taxes,
<br />assessments and other charges, fines and impositions attributable to the Propeny which may anain a priority over this
<br />Deed of Trust, and leasehold payments or ground rents, if any,
<br />S. H.un __. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage", and such other hazards as Lender
<br />may require and in such amounts and for such periods as Lender may require,
<br />The insurance carrier providing the insurance shall be chosen by BC'Tower subject to approval by Lender: provided,
<br />that such approval shall not be unreasonably withheld, All insurance policies and renewals thereof shall be in a form
<br />acceptable to Lender and shall include a standard mortgage clause in favor of and in a form acceptable to lender.
<br />lender shall have the right to hold the policies and renewals thereof, subject to the terms of any mortgage, deed of trust
<br />or other security agreement with a lien which has priority over this Deed of Trust,
<br />In the event ofloss, Borrower shall give prompt notice to the insurance carrier and lender, Lender may make proof
<br />ofloss if not made promptly by Borrower,
<br />If the Propeny is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date
<br />notice is mailed by Lender to Borrower that the insurance carrier offers to senle a claim for insurance benefits, Lender is
<br />authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the
<br />Property or to the sums secured by this Deed of Trust,
<br />6. ~ .... M__ of Property; LeueboJ.; COIIdominiuma; Plaauecl Unlt Developments. Bor-
<br />rower shall keep the Propeny in good repair and shall not commit waste or permit impairment or deterioration of the
<br />Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold, If this Deed of Trust is
<br />on a unit in a condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under
<br />the declaration or covenants oreating or governing the condominium or planned unit development, the by-laws and
<br />regulations oflhe condominium or planned unit development, and constituent documents,
<br />7, PnteedoII of Leeder', SeearilJ. If Borrower fails to perform the covenants and agreements contained in this
<br />Deed of Trust. or if any action or proceeding is commenced which materially affects Lender's interest in the Property,
<br />then Lender, at Lender's option. upon notice to Borrower, may make such appearances, disburse such sums, including
<br />reasonable attorneys' fees. and take such action as is necessary to protect Lender's interest, If Lender required mortgage
<br />insurance as a condition of making the loan secured by this Deed of Trust, Borrower shall pay the premiums required to
<br />maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with
<br />Borrower's and Lender's written agreement or applicable law.
<br />Any amounts disbursed by Lender pursuant to this paragraph " with interest thereon, at the Note rate, shall
<br />become additional indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to
<br />other terms of payment. such amounts shall be payable upon notice from Leoder to Borrower requesting p yment
<br />thereof. Nothing contained in this paragraph 7 shall require Lender to incur any expens~ or take any action hereunder.
<br />8.. ......dea. Lender may make or cause to be made reasonable entrles upon and inspections of the Property.
<br />provided that Lender shall give Borrower notice prior to any such inspection specifYing reasonable cause therefor
<br />related to Lender's interest in the Property,
<br />9. C1J.~T ............ The proceeds of any award or claim for damages. direct or consequential. In connection with
<br />any condemnation or other taking of the Property. or part thereof. or for conveyance in lieu of condemnation. are
<br />hereby assigned and shall be paid to Lender, subject to the terms of any mortgage, deed of trust or other security agree-
<br />meDl with a lien which has priority over this Deed of Trust.
<br />10. BGlmtwer NlIl ReJeued; Forbearu... By Lender Not a Waiver, ExtenSIon of the time for payment or
<br />modification of amortization of the sums secured by this Deed of Trust granted by Lender (0 any ~uccessur in interest of
<br />Borrower shall not operate to release. io any manner, the liability of t he original Borrower and BOITo~'cr' s successors in
<br />interest. Lender shaH not be required to commence proceedings against such successor or refuse to extend tlme for pay.
<br />ment or otherwise modify amortization of the sums secured hy [his Deed of Trust by rt"a~on of any demand made by the
<br />original BOlTower and Borrower's successors in imeresL Any forbearance b~ Lender In cxerCl'lng any nght lJr remedy
<br />here.under, or otherwise afforded by applicable law. shaJI nul be a ",ai\lcr \)1' or preclude rhe cxerust: of any su~h nghl or
<br />remedy.
<br />11. S~n aod Adl&M Bouad; Joint and Several UabUlI)'; Co-siln~A. rhe I.:~\...ot:!ldnl" <.111\1 .lgft~t:'Il\eOlS
<br />herein contained -shaH bind. and the rights hereunder shaJilOure to, the rl.'"~pcdlVl..; "Ul.:n>\~ur'lo .wd a"'...,l!-Oh ,'1 I.cnde-r dOlt
<br />Borrower. \Oubject to the prOliiHOOS. nfparagraph II:!- hcreol. All co\-~~niWi" .tnd ~1.!ln..t:lIlt'nl'" ,\1 Bornm<':l ~h.IiJ be i,nfll ,Hld
<br />...e\'craL Any Borrower who cO.\lgn.... thl.'; Deed pt 'f ru~t. hu: d!)('~ n..; t'\C(ill..: lilt: !\Itllt". {al!" (\\~"'j~llIng !hl~ IX'cd ot fru'!it
<br />flUlv lu Mfllnt and convey f,hirH H:orrower'~ Int\':rcM in Iht: Pn'!wnl, (\1 I rtJ;.,tcC' Lln.l~r : he lr;rlll> \1/ (hI'.. I }.eot:d ,\1 I ru\r ! hi ,...
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