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I 84 - 004418 L appiicabie law requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender sh~ give to Borrower. without charge, an annual accounting of the Funds showing credits ~d debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Deed of Trust. If the amount or the Funds held by Lender, together with the ruture monthly installments of Funds payable prior to the due dates or taxes, assessments, insurance premiums and ground rents, shall exceed the amount required. to pay sai.d taxes, assessments, insurance- premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower-an-monthly . installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance_preri1iurits-and ground rents as they fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from:tbe_,date;notice -_ is mailed by Lender to Borrower requesting payment thereof. Upon payment in full or all sums secured by this Deed or Trust, Lender shall promptly rerund to Borrower a,lY Funds.held' byL,end,;r. If under paragraph 18 hereor the Property is sold or the Property is otherwise acquired by Lender, L~nder shall apply, no later than ill\ll1ecliately 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 sums secured by this Deed of Trust. J. Application of Psyrnents. Unless applicable law provides otherwise, all payments received by Lender under the Note and -paragraphs 1 and 2 hereor shall be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof, then tointetes~ payable on the Note, then to the principal of the Note, and then to interest and principal on any Futute Advances. 4. Charges; tiens. Borrower shall pay all taxes. assessments and other charges, fines and impositions attsibutable to the Property which may attain a priority over this Deed of Trust, and leasehold payments Oi ground rents, if any, in the manner provided under paragraph:2.'hereof or. if not paid in such manner, by Borrower making payment. when due, directly to the payee thereof. Borrower shall promptlyJ~h~to Lender an notices of amounts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this:-Deed of.TrUSt; provided, that Borrower shaJI not be reqUlred to discharge any such lien so long as Borrower shall agree in writi.....g to the:paynient,of-the 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 in, legal prOCeedings which operate to prevent the enforcement of the lien or forfeiture t"f the Property or any part thereof. S. Hazard Insurance. Borrower shall keep the improvements now existing or t~r", \ter erected on the Property insured against-loss by flI'e, hazards included within the term "extended coverage", .!tnd such other hazard LeH....~rmay require and in such amounts and for such periods as Lender may require; provided, that Lender shall nor re-quire- thM the amount of such coverage e.."Cceed that a.--ncunt of ccvergge required to-p=y the sums secured by this Deed of Trust. The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided, that such- approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner provided under paragraph 2 hereof or, if not paid in such manner. by Borrower making payment. when due, directLy to the insurance carrier. All insurance policies and renewals thereof shaH be in form acceptable to Lender and shall include a standard mortgage clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, and Borrower shall promptly furnish to Lender aU renewal notices and an receipts of paid premiums. In the event of loss, Borrower shali give prompt notice to tht insu..-ance ca...-ner-,and. Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, provided such restoration or repair is economically feasible and the security of this Deed of Trust is not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Deed of Trust would be impaired, the insurance proceeds shall be applied to the sums secured by this Deed of Trust, with the excess, if any, paid to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender is authorized to coHeci an.d appiy the insurance proceeds at Lender's option either to restoration or repair of the Propeny or to the sums secured by this Deed of Trust. Unless Lender and Borrower Otherwise agree in writing:. any such application of proceeds to principal shall not extend or postpone the due date of the monthiy installments referred to in paragraphs I and 2 hereof or change the amoum of such installments. If under paragraph 18 hereof the Property is acquired by lender, all right, title and interest of Borrower in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to [hI: sale or acquisition shall pass to Lender to the extent of the swns secured by this Decd__ of Trust immediately prior to such sale or acquisition. 6. ProservaUoo aDd MIllDleuDC< of Property; Leasebolds; CODdomlalums; PlaDued Vall DevelopmeDts. Borrower shall keep the Property in good repair and s.hall not commit waste or permit impairment or deterioration of the 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 on a unit in a condominium or a planned unit development. Borrower shall perform aU of Borrower's obligations under the declaration or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the condominium or planned unit development, and consii:~lent documents, If a condominium or planned unit devdopment rider is executed by Borrower and recorded together with this Deed of Trust. the covenants and agreements of such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider were a part hereoL 1. ProtectioD of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Property, including. but not limited to, eminent domain, insolvency. code enfon..-ement, or arrangements or proceedings involving a bank.rupt or decedent. then Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such sums and take such action as is necessary to protect Lender's interest. including, but not limited to. disbursement of reasonable anornc)"s fees and entry upon the Property to make repairs. If Lender requir~ mortgage insurance a... a condition of making the loan secured by this Deed of Trust, Borrower shall pay the premiums required 10 maintain such insurance in efftet until such time as the requirement for such insuran+.::e terminates in accordan+.::e with Borrower's and Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the manner provided under paragraph 2 hereof. Any amounts disbursed by I..~nd("r pursuant to ~his paragraph 7, with interest thereon. shaH become additionai indebtedness of Borrower ~ured by this. De<<t of TrusL Unless Borrower and Lender agr<< to other terms of payment, such amounts shall be payable upon notice from Le'uder to Borrower requcs.ting payment thereof, and shall bear interest from the date of disbursement at the rate payable from time to time on outs.tanding principal under the NOte unless payment of interest at such rate would be contrary to applicable law, in which evenl such a.mounts thall bear interest at the highest rate permissible under applicable law. Nothing contained in this. paragraph '7 shall require Lender to ini.:ur an)' ex~n.u~ or take any action hereunder_ B. luper-tloD. Lt-ndtl' may make or cau~e 10 be made reasonable entries upon and inspections of the Property. prOVIded that Lender shall ghc Borrower nonce prior to au)' .sud, inspa;lion s-~ifying reasonable cause therefor related Ii..) lender's mlerest III the Propeny. 9. <.:OQckaulatiun. The PfCX:et.'\l1\. of any awa,rtl or claim lur damages. direct 01 \.',--Hl$C"\lU~i1tIaj, lf1 .;nllflei;tlon with allY ('ondc-mu..tl!(\ll 1.)1 orhcr takmg or the Property, or part therrof. ()f for \';otl'.-(')'aru:~ in lieu of l.:oUdemnallon, arc hereby as.~lgned anJ "IHtll t)(' ('did HI J ("nd~f tn th('evrnt of a tot.al taking of the Prol'l<:'l'ty, lhe pnx<<ds. _~hall t)( applied to the SUul); ~J:~.:ured hy Ihls tked of Trust, \\ilh the e,\I.:.;......., 11 ;-Hl!-, ~ld to liorrow(,L In th(' event \~f it partial taking of the Property, uflle-~'\- Borrower' and 1 ende! otherWIse dgfce 1Il wrHlIlR, lht'f(~ ~hail h..:- appla'd to the "-UfH.} ~"-',l-Htd b\' thiS [.k:e>l.i of In,,,,r HH.:h propl.,lHlOll of the pttxctd,,,- ;t~ ;<, ~Qua: :..1 thai PtoPOHhHl 'o\IHd\ iht' il.llliHlIll ,)/ \lit' ,UII1\ ~~'\ \,l[{'d r