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84 - 005381 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 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 arnOlli'"lt of the Funds heId by Lender. together wi~h the future monthly installments of Y.J..i.~ds payable prior to the due dates oi 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 vii u.onttJy installments of Funds, If the amount of the Funds held by Lender shall not be suffiCient to pay taxes, assessments, insurance premiums 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 date notice is mailed by Lender to Borrower requesting payment thereof, Upon payment in rull of all sums secured by this Deed of Trust, Lender, shall promptly refund to Borrower any Funds held by Lender, If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later than immediately 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. 3, Application of Payments, Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under paraaraph 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, Cb8lles; {jellS. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to the Propenywhich may attain a priority over this Deed of Trust. and leasehold payments or ground rents, ir any, in the manner provided under paragraph 2bereof or, jf not paid in such manner. by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnislito Lender all notices of amounts due under this paragraph, and in the event Borrower shall malte payment directly. BorrowershaU promptly' rurnish to Lender receipts evidencing such payments, Borrower shall promptly discharge any lien whicb h... priority over this Deed of TrUst; provided, that Borrower shall not be required to discharge any such lien so long as Borrower shall agree in writing to the pa~ofthe 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 of the Property or any partlhereof, 5, Hazard Insura...... Borrower shall keep the improvements now exisliv: "Ir hereaf~er erected on the Property insured against loss by fire, hazards included within the term "extended coverage", and sucl1 ",her ng-",dc,. Lender may r,.;::.Jire and ir. such amoantsand for such periods as Lender may require~ pro\-1ded, Lh....at Le!'!de~ shaH nN requ!re that th~ :" ~i1t of such co....erage exceed that a..iiOunt of co~ requi.'"'Cd: to pay the sums secured by thi. Deed of Trust. The insurance canier 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. ifnot paid in such manner, by Borrower malting payment, when due, directly to the insurance carrier. All insurance policies and renewals thereof shall 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 all renewal notices and all receipts 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, Unl<ss Lendei and Bonow,", otherwise agree in writing, insurance proceeds shaJl 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 shaJl be applied to the sums secured by this Deed \If 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 th~ oatr noti~ !s mai!ed by Lender to Borrower tbat th~ insiia-ance ~-net' offen to 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 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 DOt extend or postpone the due date of thr monthly installments referred to in paragraphs ! lUld 2 hereof or change the amount of such installmenli. If under parqnIpIt 19 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 the sale or acquisition shaJl pass to Lender to the extent of the sums secured by this Deed of Trust immediately prior to such sale or acquisition. 6. PreMn.doa.1Id Malal....... of Propa1y; LeueIIoIds; CooooDliDluma; PIauocI VlIlt On............. Borrower shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and shaJl comply with the provisions of !U1Y !ea.-.se if this Deed of Trust is Oil c leasehold. if Uris ~ 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 govemin& the condominium or platmed unit d~lopment. the by-laws and regulations of the condominium or planned unit development. and constituent documents, If a condominium or planned unit development rider is executed by Borrower and recorded together ",ith this Deed of Trust, the covenants and qreemet1ts of such rider shall be incorpora~ed into and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider were a pan hereof, 7. Protection of Lenlkr's S<<urlly, If Borrower fails to perform the covenanlS 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, includina, but not limited to, emi.....' """"'in_ i,...,i>'CJlCY, L'Ode entorcement, or arrangements or proceedings involviog 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 or reasonable attorney's fees aud entry upon the Property to malte 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 10 maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law, Borrower shaJl pay the amount or all mortgage insurance premiums in the manner provided under paraaraph 2 hereof. z~'i iiIi#~~l~ d!~bU!~ed by Lender pursua..'1t to this parilgl"apn 7. with interest thereon, shall become additional indebtedness of Borrower "Cured by this Deed of Trust. Unless Borrower and Lendrr agree to other terms of payment, such amounts shaJl be payable upon notice rrom Lender to Borrow", requesting payment thereof. and shall bear interest from lhe date of disbursement at the rate payable from time to time on outsllUtdina priltl:ipal under the Note unless payment of interest at such rate would he L'Ol1tnlry to applicable law. in which event such amounts sh&ll bear interest at the highest rate permissible under applicable law, Nothing contained in this paragraph 7 .h&ll require Lender to incur any expense or take any tlction hueunder-, 8, I~. Lender may make or caUMO to be made rusonable enlr;e. upon and inspe.:tions of the Property. provided that Lender shall gt\'c Borrower notK.'C prior to any $uch irupection specifyilll rc-.a.sona.blC' cause therefor related to Lmdc:r's interest in lhe Property. 9. (~~..UOIII. rhC' pn:x:eeds. of an}' award or claim for damages. direct or ~l)nsequelUi.l. in connC".:tion with any i:ond-emnauon 01 vlh~r tAkmS of the Propcrt}', or pan thefeuf, Of for coovC'yance in hcu of condemnation. arc hereby LIS..\ljnOO and shalt be paId to l.('nder, In Uu: eVt'llt (Jf 4. tata] lak.illl of the ?tope-ny. the proceeds $hail be applied to the: sums ~-urN by this Deed of Trus.t, \%1th the (','\1..'C55, if an~', rxud In fk)~fi)WeL In (he t"\.ent ot k partial iakm.g of the Property. ~mlc-s.\ BorrowC'1 and. LendC'r oth~[Vo'i.se il$.rec in wduns, there 5haH be applied to ft~ '~~",m~ ~UJcd by lh~s f)ecd 01 Tl'ust w~h proportion of ~h(' p-rtx~('ed.. <l\ 1\ t"quallO that prupoltu.m wnli.:h the amoutll di' the '.urn~ ~C\.:UI('J