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84- 005535 applicable law requires such interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds, Lend.... shall give to Borrower, without charge, an annual accounting of the Funds showing credits ..nd debits to the Funds and ~he purpose for which each debit to Ihe 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 fUlure 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 satd 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 tJ Borrower on monthly 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 full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any Fundsheld:byLellder, If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, LeIlder 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 paragrapbs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph 2 bereof, 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; Uen.s. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any, in the manner provided under paragraph 2 ~f or, if not paid in such manner. by Borrower making pa}nlent. when due, directly to the payee tbereof, Borrower shall promptly furnish te> 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 whicb has 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 payment of the obligation secured by such lien in a manner acceptable to Lender, or shall in good faitb 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 part thereof, 5, Huanlln.surance, Borrower sball keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage", and such other hazards. .' Lender may require and in such amounts and for such periods as Lender may require; provided, that Lender shall not require ~ha' the """,'<~J c ,ch coverage ~7'.ced that amount of coverage required to pay the sums secured by this Deed of Trust, The insurance carrier providing tbe insurance shali be cbosen 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 tbe manner provided under paragrapb :. bereof or, if not paid in such manner, by Borrower making payment. when due, directly to the insurance carrier. All insurance policies and renewals thereof sball be in form acceptable to Lender and shall include a standard mortgage clause in fave>r of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, and Borrower slWI promptly furnish te> Lender all renewal notices and all r.....,ipts of paid premiums. In the event of loss, Borrower sball give prompt notice to the insurance carrier and Lender, Lender may make proof of ioss 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 tbe 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 sbaIl 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 autborized to collect and apply the insurance proceeds at Lender's option either 10 restoratiC>n ()t' 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 not extend e>r postpOne the due date of the monthly installments referred to in paragraphs I and 2 hereof or cbange the amount of such installments, If under paraaxapb 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 the sale or acquisition shall p.... to Lender to the exten~ of the sums secured by this Deed of Trust immediately prior to such sale or acquisition, 6, PftMnoaUon and MllinteDanct of Property; ~; Condombd_: PIaDned Unit Dev......II. Borrower sbaIl keep the Property in good repair and sbaIl not commit waste or permit impairmenl or deterioration of the Property and shall comply with the ptovi5ions oi any lease if this Deed. 01 Trust is on a leasehold. if this Deed of Trust is on a unit in a condominium or a pianned unit deveiopmeot. Borrower shall perform all of Borrower's obligations under the declaration or covenants creating or govemilll the rondominium or planned unit development, the by-laws and regulations of the condominium or planned unit development. and constituent documents, If a rondominium or planned unit development 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 .lgreCments of this Deed of Trust as if the rider were a part hereof. 7. Prottc:tioa of Lellller's s..:urity. If Borrower rails to perform the covenants and agreements contained in this Deed of Trust, or if any action or proceeding is commenced which materially affect.' Lender's interest in the Property, includilll, 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 mortga&e insurance as a condition of making the loan secured by this Deed of Trust, Borrower shall pay the ptemiums required to maintain such insurance in. effect Wltil such time as the requirement ror such insurance terminates in accordance 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 amoWlts disbursed by Lender pursuant ~o this paragraph 7, with interest thereon, shall become additional indebtedness of Borrower 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 tbereof, and shall bear interest from the date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate permissible under applicable law, Nothilll contained in this paragraph 7 shall require Lender to incur any expense or take any action bereunder, I, 11UpIlCtiDiI. Lender may make Ot cause to be made reasonable entries upon and inspections of the Property, provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause thereror related to Lender's interest in the Property, 9. C........tk>n, The proceeds of any award or claim ror damages. direct or consequential, in connection with any condemnation or other takina of the Property, or part thereof, or ror conveyance in lieu of condemnation. ate hereby assianed and ,hall be paid to Lender, In the eV<llt of a totaltakina of the Property, the proceeds !\hall be applied to the sums secured by this Deed of Trust, with the excess, if any, paid to Borrower, In the evc-nt of .. partiahak.ina of the Propetty. unless 8orrow~r and Lender otherwise agree in writing, [here shall be applied to the '\unu ieCureO by thn: I'.)eed of Tru..\t such proponion of the pmcee