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r 84 - 005556 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 ch'arge, an annual accounting of the Funds showing credits i::f.nd 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 of the Funds held by Lender, together with the future monthiy installments of Funds payable prior to the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said 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 Ihe amount of the Funds beld by Lender shall not be sufficient to pay taxes. assessment<, insurance premiums and ground rents as Ihey 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 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 againsllhe 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 I and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph 2 hercef, th,," 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; Ueus. 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 hereof or, if not paid in such manner. by Borrower making payment, when due. directly to the payee thereof. Borrower shall promptly furnish to 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 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 sball in good faith contest such lien by, or defend enforcement of such lien in, legal proceedings whicb operate to prevent tbe enforcement of the lien or forfeiture of tbe Property or any part thereof, 5, Hazard Insurance. Borrower sball keep tbe improvements now existing or bereafter erected on the Property insured against loss by flJ'e, bazards include;! witbin the term "extended coverage". and such otber bazards as Lender may require and in such amounts and for such periods as Lender may requite; proyided~ that Lender shall not require that the arllount of stich coverage e-ACeed that amount of cOverage required to paj tbe sums secured by tbis Deed of Trust. The insurance carrier providing the inSllTanCe shall be chosen t' ',' ,ower subject t~') -;.pproval by Lender; provided, that such approval shall not be unreasonably withbeld, i\li premiums c' m,urance pol: ,,,all be paid in the manner provided under paragraph 2 bereof or, if not paid in such manner, by Borrower making payment. when due, directly to the insurance carrier. All insurance politi., and renewals thereof sball 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 thereot and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums, In tbe event of loss, Borrower sball give prompt notice to the illSurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otberwise agree in writing. insurance proceeds sball be applied to restoration or repair of the Property damaged, provided sucb restoration or repair is economically reasible 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, tbe insurance proceeds shall be applied to tbe sums secured by this Deed of Trust. with the excess. if any, paid to Borrower, If tbe 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 Ibat the insurance carrier offers 10 settle a claim for insurance benefits. Lender is autborized to collect and apply tbe insurance proceeds at Lender's option either to restoration or repair of tbe Property or to tbe sums secur-.d by this Deed of Trust. Unless Lender and Borrower otherwise agree in writing, any sucb application of proceeds to principal shall not extend or postpone the due date of the monthly installments referred to in paragraphs i and 2 hereof or cbange tbe amount of such installments. If under paragrapb 18 bereof the Propeny is acqulred by Lender, all right, title and interest of Borrower in and to any insurance policies and in and to the proceeds tbereof resulting from damage to the Property prior to the sale or acquisition shall pass to Lender to the extent of tbe sums secured by this Deed of TrusI immediately prior to such sale or acquisition, G. Pre....."atloll aod Malul<OlUIce of Property; Leiisebolds; COlldomli1lums; Planoed Ui1It Developments. Borrower shall keep tbe Property in good repair and sball 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 tbis Deed of Trust is on a unit in a condominlum or a planned unit development, Borrower sball perform all of Borrowe,'s obligations under the declaration or covenants creating or governing the condominium or planned unil development. the bY41a:w-s d..ild regulations of the conduminium or plaoned unit developmem, and constituent dC.::lifi:ot'nts~ !r fl c-c.nd(imi!1ii!ffi (>f l planned unit development rider is executed by Borrower and recorded together with this Deed of Trust. the covenants and agreements of such rider sball be incorporated into and shall amend and supplement the covenants and agreements of tbis Deed of Trust as if tbe rider were a part bereof. 7, Protection of Lender', Security, If Borrower rails to perrorm tbe 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, ~ode enforcement, or arrangements or proceedings involving a bankrupt or decedent. then Lender at Lender's option, upon notice {O Borrower. may mak.e such appearances. disburse such swns and take such action as is fia.."essary 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 time 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 all mortgage insurance premiwns in the manner provided under paragraph 2 hereof. Any amounts disbursed by Lender pursuant to tbis paragrapb 7, with interest tbereon, sball become additional indebtedness of Borrower secured by tbis Deed of Trust. Unless Borrower and Lender agree to otber terms of payment, such amounts sball De payable llpon notice from Lendrr (0 Borrower requesting payment thereof. and shall bear interest from the date of disbursement at the rate payable from time lO time on outstanding principal under the Note unless payment of interest at such rate would be comrary [0 applicable law. in which event such amounts mall bear interest at the hijhest rate permissible under app~icabJe law, Nothing ;;ontained in this paragraph 7 shall require Lender 10 in~ur any expense or take any action bereunder, 8. lupecfW,u.. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided that Lender shall give: Borrower notite prior to any such inspection specifying reasonable l,.'ause therefor related to Lender's mterest in lhe Property. 9. CoDdelQuuoa. The proceeds of any award or claim for damages, dire!.:t or <..'onsc4uemial, in \.'onncction with any .:ondclllnation l,.'f other tak.ing of the Property. or part thereof, or for \.:on\'cyance in Heu of condemnation, ~n: hereby assigned aral shall he p.l.id w Lender. In the C\'1:llt of a totaltak.il1&- of the Property, the prt)(;ced'i shall be applied w the sum~ :-.C\.:urcd by lhi!. l)e<-J of Tl'u;)t. with the exxcs..... if an)', paid 10 8orrower. In the event of a partial taking of the Property. uuJe~ ll-orrowC'! .and Lender ...llhecwisc ;,igrcc III ~\ I iring, rhcrl' !:>hall be applil'd to the sums ~C(,~urc.d by thi~ Deed of Trust such proportion of rhe pro(.:ceJs ~\_, 1"- t'({ual ILl thiH prop..n[ion Whl...::h thf -iHlHHHlI '_:1 tilt' ,Ull1:.. ....t.'"IwtHt'J