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82-- UU47~35
<br />if Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of which are
<br />insured or guaranteed by a Federal or state agency lincluding Londe: if Lender is such an institution). Lender shall apply
<br />the Funds to pay said taxes, assessments, insurance premiums and ground rents. Lender may not charge for so holding
<br />and applying the Funds, analyzing said acrnunt or verifying and compiling said assessments and bills, unless Lender
<br />pays Borrower interest on the Funds and applicable law permitr Lender [o make such a charge. Borrower and Lender
<br />may agree in writing at the tittle of execution of this Deed of Trust chat interest on the Funds shall be paid to Borrower.
<br />and unless such agreemrnt is made a applicable taw requires such interest to be paid, lender shall not be requited
<br />to pay Bortowet any ineerest or earnings on thc: Funds. Lender shall give to Borrower, without charge, an annual
<br />accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was
<br />made. The Funds arc pledged az additional security for the sums secured by this Deed of Trust.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable price to
<br />the due dates of taxes, assessments. insurance premiums and ground rents, shall exceed the amount required to pay said
<br />taxes. assessments, insurance premiums and ground rents as they fall due, such excess shall be. at Borrower's option.
<br />either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. if the amount of the
<br />Funds held by Lender shall trot be sufficient to pay taxes, assessments, insurance premiums and ground rents az theyfall
<br />due. Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as Lender
<br />may require.
<br />Upon payment in full of all sums secured by this Deed of Trust. Lender shalt promptly refund to Borrower any
<br />Funds hdd by Lender. !f under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by
<br />Lender. Lender shall apply, no later than immediately prior to the sale of the Properly or its acquisition by Lender, any
<br />Funds held by Lender at the time of application az a credit against the sums secured by this Deed of Trust.
<br />3: Appiicatbo of Paymena. Unless applicable law provides otherwise. all payments received by Lender under
<br />the Note and paragraphs 1 and 2 hereof shall be applied by Lender firs[ in payment of amounts payable to Lender by
<br />Borrower under paragraph 2 hereof, then to interest payable on the Note. and then to the principal of the Note.
<br />4. Prlot Martgtsgn and tads of Trot; Charges; :.leas. Borrower shall perform all of Borrower's obligations
<br />under any mortgage. deed of trust or other security agreement with a Tien which has priority over this Deed of Trust,
<br />including Borrower's covenants to make payrtrentr when due. Borrower shall pay or cause to be paid all taxes,
<br />assessments and other charges. fines and impositions attributable to the Property which may attain a priority over this
<br />Deed of Trust, and leasehold payments or ground rents. if any.
<br />5. Hazard Imarance. Borrower shall keep the improvements now existing or hereafter erected an the Property
<br />insured against loss by fire, hazards included within the term "extended coverage", and such other hazards as Lender
<br />may require and in such amounts and for such periods as Lender may require.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided.
<br />that such approval shall not be unreasonably withheld. Alt insurance policies and renewals thereof shall be in a Form
<br />acceptable to Lender and shall include a standard mortgage clause in favor of and in a form acceptable to Lender.
<br />Lender shall have the right to hold the policies and renewals thereof, subject to the terms of any mortgage. deed of trust
<br />or other security agreement with a lien which has priority over this Deed of Trust.
<br />In the event of loss. Borrower shall give prompt notice to the insurance carrier and Lender. lender may make proof
<br />of loss if not made promptly by Borrower.
<br />If the Property is abandoned by Borrower, or if Borrower tails to respond to Lender within 30 days from the date
<br />notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits. Lender is
<br />authorized to rnllect and apply the insurance proceeds at Lender's option either to restoration or repair of the
<br />Property or to the sums secured by this Deed of Trust.
<br />6 pteaervatlon and Mtdatenattce of Property; Leaseholds; Condominiums; Planned UNt Developments. Bor-
<br />rower shall keep the Property in good rpair and shall not commit waste or permit impairment or deterioration of the
<br />Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. tf this Deed of Trust is
<br />on a unit in a condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under
<br />the declaration or rnvenants creating ar governing the condominium or planned unit development, the by-laws and
<br />regulations of the condominium or planned unit development, and constituent documents.
<br />7. protection of Lender's Seeuriry. If Borrower fails to perform the covenants and agreements contained in this
<br />Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in the Property,
<br />then lender, at Lendei s option, upon notice to Borrower, may make such appearances, disbure such sums, including
<br />reasonable attorneys' fees. and take such action az is necessan• to protect Lender's interest. If Lender required mortgage
<br />insurance az a condition of making the loan secured by this Deed of Trust. Borrower shall pay the premiums required to
<br />maintain such insurance fn effect unfit such time az the requirement for such insurance terminates in accordance with
<br />Borrower's and Lender's written agreement or applicable law.
<br />Any amounts disbursed by Lender pursuant Eo this paragraph ?, with interest thereon, at the Note rate. shall
<br />become additional indebtedness of Borrower secured by this Deed of Trust. Unless Borrower. and Lender agree to
<br />oilier terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting. p yTrrent
<br />thereof. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder.
<br />8. Ltatpettlon. Lender may make or cause to be made reasonable entries upon and inspections of the Property,
<br />provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause theretior
<br />related to Lender's interest in [he Property.
<br />9. Coademnatioa• The proceeds of any award or claim for damages. direct or consequential. in connection with
<br />any condemnation or other taking of the Property, or part thereof. or for conveyance in lieu of condemnation, are
<br />hereby azsigned and shall be paid to Lender. subject to the terms of any mortgage, deed of trust or other security agree-
<br />-mint with a lien which hoc priority over this Decd of Trust.
<br />li). Borrower ;+lot Heiase+i; Forbearance By Leader Not a Waiver, Extension af' the time ftir payment or
<br />modifreat'son of amattization of the sums secured by this Deed of Trust granted by Lender to any successor in interest of
<br />Borrower Shall not cperaic to release, in aay manner, the liability of the original Borrower and Borrower's successors in
<br />intetes4. Lender shall not lee required to commence proceedings againstsuch successor or refuse to extend nme i'or pay-
<br />mtni or otherwise modify amartizatioa of the sums secured by this Decd of Trust by reast~n of ary demand made by the
<br />origins! Borrower and Borrower's successors to interest. Any forbea:anee by Lender in exercising cent riche or remedy
<br />tureundtr. of otherwise afforded by applicable law, shall not tae a warvcr al' or prttiude the exercise ~ .urh right or
<br />remedy..
<br />11. Swcceaon4 wind Assigm Boturtl; loia# aced Several Lirrbillt9; Co•siaatn. The atvcn.tnt; and atarcctnents
<br />herelti ccmiairitd shaft bind. and the rights hereunder shalt more ta. the respective suecessan and as;igtts of Lender sod
<br />$otrtvwer. subjeot to the provisions of paragraph lt+ henut. \]l coverants arsd a;reements ~.t Burrower vhaii be }iitnt :nod
<br />sevctal. Ang Bar.'tnvtr who cc,-segos this Dsed a~f~7rust. but dues not rsc.=rte. the "`auto, tat i= co signing tells Clod of )`east
<br />tmk fen grant sod :vnvey that Borruw~er'~ interest ut the Prsparc'o 'Cntstcc ~n,1cr the tirrts of tt7n Lked ,~f'frust. slit is
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