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82-~t~049U~
<br />if Borrower pays Funds to Lt:..der, the Funds shall be held in an institution .rte deposits or accounts of which are
<br />irauredor guaranteed by a Federal or state agency lincluding Lender if Gender is such an institution). tender shall apply
<br />the Ftitids to pay said taxes, assesamrnu, insurance premiums and ground rents. Lender may not charge for so holding
<br />and applying the Funds, analyzing said account or verifying and compiling said assessments and bills, unless Lender
<br />pays Borrmver interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender
<br />may agree in writirtg at the time of execution of phis Deed of Trust that interest on the Funds shall be paid to Borrower,
<br />and unless such agreerttrnt is made or applicable law requires such interest to be paid, Lender shall not be required
<br />to gay Borrower any interest or earnings on-the Funds. Lender shall give to Borrower. without chazge, an annual
<br />accounting of the Funds showing crediu and debiu to the Funds and the purpose for which each debit to the Funds was
<br />made. The Funds arc pledged as additional sectrity for the sums secured by this Deed of Trust.
<br />tf the amount of the Funds held by Lender. iogether with the future monthly installments of Funds payable prior to
<br />the due dates of fazes, 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 field by tender shall not be sufficient to pay taxes, assessments, insurance premiums and ground renu as they fall
<br />due. Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more paymenu as Lender
<br />may regaire.
<br />Upon payment in full of all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower any
<br />Funds held by Lender. If under pazagraph 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 Property or its acquisition by Lender, any
<br />Funds held by Lendee at the time of application as a credit against the sums secured by this Deed of Trust.
<br />3. Applkatbn of Paymm4. Unless applicable law provides otherwise, all payments received by Lender under
<br />the Note and paragraphs 1 and 2 hereof shall be applied by tender first 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. Prbr Mortsrr~a aed Deeda of Treat; Cltargea; Lien. Borrower shall. perform all of Borrower's obligations
<br />under any mortgage, deed of trust or other sxurity agreement with a lien which has priority over [his Deed of Trust.
<br />including Borrowei s covenants to make payments when due. Borrower shall pay or cause to be paid all taxes,
<br />assessmenu and other chazges, fines and impositions attributable to the Property which may attain a priority over this
<br />Deed of Trust, and leasehold paymeats or ground rents, if any.
<br />3. Hazard Imorasce. Borrower shall keep the improvements now existing or hereaher erected on 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. All insurance policies and renewals [hereof shall be in a form
<br />acceptable to Lender and shall include a standazd mortgage clause in favor of and in a form acceptable to Lender.
<br />Gender shall have the tight 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 shalt 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 fails to respond to Lender within 30 days from the date
<br />notice is mailed by Lender to Borrower that the insurance carrier otien to settle a claim for insuraitm benefits. Lender is
<br />authorised to collets and apply the insurance proceeds at Lender's option either to restoration or repair of the
<br />Property or [o the sums secured by this Deed of Trust.
<br />6. Praer-utoo and Maintmaoc~ of Property; teaseholda; Condominiums; Planned Unit Developments. Bor-
<br />rower shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the
<br />Property and shalt rnmply with the provisions of any lease if this Deed of Trust is on a leasehold. If this Deed of Trutt is
<br />on a unit in a condominium or a planned unit development, Borrower shalt perform all of Borrower's obligations under
<br />the declazation or rnvenants citating or 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. Ptotsetlon of 1%sader'a Secetrtty. 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 Lender's option, upon notice to Borrower. may shake such appearances, disburse such slims, including
<br />reasonable attorneys' fees, and take such action as is necessary to protect Lender's interest. !f Lender required mortgage
<br />insurance as a condition of making the loan secured by this Deed of Trust. Borrower shall pay the premiums required to
<br />maintain such insurance in effect until such time as the requirement for such insurance terminates in ac~rordance with
<br />Borrower's and Lender's written agreement or applicable taw.
<br />Any amounts disbursed by Lender pursuant to 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 />other terms of payment, such amounts shall be payable upon notice from Lender ro Borrower requesting p y~rrtent
<br />thereof. Nothingcontairred in chic paragraph 7 shall require Lender to incur any expense or take any action hereunder.
<br />8. Ieapectlan. Lender may make or cause [o be made reasonable. entries upon and inspections of the Property,
<br />provided that Lender shat) give Borrower notice prior to aay such inspection specifying reasonable cause therefor
<br />related to Lender's interest in the Property.
<br />4. Cond~aatiun. The proceeds of any awazd or claim for damages, direct or consequential. in connection with
<br />any eondrmnation of other taking of [he Property, or part thereof', or for conveyance in lieu of condemnation, are
<br />hereby assigned and shat) be paid to Linder. subject to the terstts of any mortgage. deed of trust or other security agree-
<br />ment with a lien which has priority over this Desd of Z"rust.
<br />10. Idaerotves Not ttatraaed; Forbearance By l,eatdsr Not a Wainer. Extension of the time for payment or
<br />mQtfitication of amnrtization of the sums secured by this Deed of Trust granted by Lender to any successor in i merest of
<br />1'3ormwrr-shall rwt operate to release, in any manner. the liability of the original Borrower and-Born~wer's suceesson in
<br />interest, Crueler shell trot br mquired to crommence proceedings against such sutt~essor or refuse to extend time (i>r pay-
<br />ment ar otLtrrwisr modify amortization of the sums secursd by this Deed of Trust by reason ,zs iemand made by the
<br />origitta4 Borrower and Borrower's successors in interest. ,any t'urbearance by Lender in exeriis.. A .any nght or remedy
<br />hereurx4rr, or otherwise affotdrd by applicable taw, shall nut be a waiver of or preclude the exerctse of any such right or
<br />remedy.-
<br />ii. $accgwra and Aaai~t 8oetad2 ]Dial wd 5ereeal Llabliityt Ga•siRttsra. The iavenants and a;,reenrenrs
<br />herein contained shall-hind, and the rights hereunder shalt mare ta. the respective successors and :a;siuns .z(L,cnder and
<br />Borrower, +ubject to the prctvisiur,4 of paragraph In ttersof. Ail c:syenants and agreenrrntti ,.t I;VTrt>wer shalt be joint and
<br />ssveral• Any 4trrrower who cnsig~ zttis Ched of ]rust, huz dc~s not eterute the. Nate. !a } is sx~:rgntnQ thts teed of Trust
<br />zsn3y to grant and cansag that iScrruwer's inters in tfie Prx,lxrts~ t,~ T~rclytee ender rtsc t:•rms sst'thts t_h~ed :,} "frost,;hl is
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