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I .~~ -:- ,Q04609 \.! \~, . ",j: . I applicable law requires such interest to be paid, Lender shall not be required to pay Borrcwer any interest or earnings on the Funds. Lender- shall give to Borrower. without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for ;'hich 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 of the Funds held by Lender. together with the future monthly installments of Funds payable prior to the due dates of 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 on monthly . installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes,_assessments, insurance--ptemiunis- and ground rents as they fall due, Borrower shall pay to Lender any amount necessary to-make up the deficiency within 30 days- from---the!da,te_ notice is mailed by Lender to Borrower requesting payment thereof. Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to ,Borrower any Funds,held.1>y Lenderc.If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apP,ly, no lateI<than-.immec;lj~teh~' 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:ag~rist-the-:~~----~ secured by this Deed of Trust. 3. Application of Payments. Unless applicable law provides otherwise, aU payments received by Lender under the-Note and p_ar~aphs:: 1 _ 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 payable on the Note. then to the principal of the Note, and then to interest and principal on any Future Advances. 4. Charges; Liens. Borrower shall pay an taxes, assessments and other charges, fines- and impositions attribut~ble to-the--Property_which: may attain a priority over this Deed of Trusl, and leasehold payments or grou:-'-_d rents, if any. in the manner provided_underparagraph--2 h~f or, if not paid in such manner, by Borrower making payment, when due, directly to the payee thereof. Borrower-shall ,promp~y_ futniSlft~: Lender all 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-_(jfTius'-:f;:-- provided, that Borrower shall nor be required to discharge any such lien so long as Borrower shall agree in writing- to- the payment,of:the' obligation secured by such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcemelif of-suchlieri in, legal proceedings which operate to prevent the enforcemem of the lien or forfeiture of .he Property or any part thereof; 5. Hazard Insurance. Borrower shall keep the improvements now existing or b"'rea.r~.. . erected on the Property insured against loss by nre~ hazards included within [he term . 'extended coverage' . and such other hazards, ~{':nd:; .nay require and in such amounts and-{or such-periods as Lender may r~quire; provided. that Lender shall not require that the amount cf such coverage exceed that amount of coverage requi~ t(lpay~ the sums secured by this Deed of TrusI. The insurance carrier providing the insurance shaH be chosen by Borrower subject to approval by Lender; provided, that such approval shaH 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 shall be in fOfm acceptable [0 Lender and shaH include a standard mortgage clause _in favor,of and in fOfm acceptable [0 Lender. lender shall have [he right to hold the policies and renewals thereof, and Borrower shall promptly furnish to Lender all renewal notil:es and all receip[s of paid premiums. In the event of loss. Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower olherwise 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 shaU--bc applied to the sums secured. by this Deed of Trus[, with the excess, if any, paid to Borrower. If the Property is abandoned by Borrower, or if Bcr.cwcr fails ~G .Qy.cHid ~G L-<:i1d.:-r .,,;..ithin 30 ~a.Y5 from the date nOii~i: is: mailed hy Lender to Borrower iha.t the lliiurailee carriCl uffers to L settle a claim for insurance benefits. Lender is authorized. to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property or [0 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 monthly installments referred to in paragraphs 1 and 2 hereof or change the amount 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 dan\age [Q the Property prior to the sale or acquisition shall pass to Lender to the extent of the sums secured by this Deed of Trust immediately prior to such sale or acquisilion. 6. Preservation and MalntenaD~ of Property. Leasebolds; Condominiums; Planoed Unh Denlopments. Borrower shall keep the Property in good repair and shaH not commil, waste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease if this Deed of Trusl is ,,)0 a leasehold. lfthis Deed of Trust is on a unit in a condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration or covenants creating or governing the condominium or planned unit development, the bywlaws and regulations of the condominium or planned unit development, and constituent documents. If a condominium or planned unif developmem rider is executed by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such rider shall be incorporaled into and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider were a part hereof. 1. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this Deed of Trust. or if any action or pwceeding is commenced which materially affects lender's interest in the Property, induding, but not limited to, eminent domain, insolvency, code enforcement. or arrangements or proceedings involving a bankrupt 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 attorney's fees and entry upon the Property to make repairs. If Lender required mortgage insurance as a condition of making the loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain such insurance in effect until such lime as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. Borrower shall pay the amount of aU mortgage insurance premiums in [he manner provided under paragraph 2 hereof. Any a..'11Qunts disbursed by Lender pursuant to th;s paragraph 7, with interest thereon, shall become additjonal indebtedness of BorrOWC'l secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and :>hall bear inlerest from the date of disbursement at [he cale payable from time to time on outsumding principal under the Note unless payment of interest at such rate would be comrary to applicable law, in which event such amounts shall bear interest at the highest rate permissible under applkable law, Nothing. l.'ontained in this paragraph 7 shall require lender to incur any expense or take any action hereunder_ It Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Propeny, provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause lherefm related to Lender's interest in the Prupeny. 9. Condemnation, The NlX:eeds of any award or claim for damages, direct or (onsequcntial, in <:onnt'Ction with any C-Ondl"mnatioll Uf other taking oflhe Property, or part thereof, or for conveyance in lieu ol"::ondemnntion, a.re hereby assigned and shall be paid tt' LcndcL In the event of -a totallL\king of the Property, the pro..:-eeds shall be applied to the :oums secured by t.his Deed of Trust. with the c~-.;c('ss, if any. paid to RorroweI, In the event of a partial taking of the Property, unless Borrower and Lender otherwist' agree in writill~, then: :>hall be applied lO the- !>umi< ;;.C',urw by ihh Deed of Trust ~tJ("h proportiun of the prOl:uds as is equal 10 that proponion whirh the iU1h)UrH ,.)1 {he sums secured