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<br />82-OC15il /i3
<br />If Borrower pays Funds to hander, the Funds shall be held in an institution the deposits ur accounts of which are
<br />insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institutionl. Lender shall apply
<br />the Funds to pay said [axes, assessments, 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 Bortower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender
<br />may agree in writing at the time of execution of this Deed of Trust that interest on the Funds shall be paid to Borrower,
<br />and unless such agreement is made or applicable law requires such interest to be paid. Lender shall not be required
<br />to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without chazge, 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 are pledged as 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-prior 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 not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall
<br />due, Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more pavments as Lender
<br />may require.
<br />Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Bortower any
<br />Funds held by Lender. If 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 Property or its acquisition by Lender, any
<br />Funds held by Lender at the time of application as a credit against the sums secured by this Deed of Trust.
<br />3. Application of Payments. 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 first in pavment oti 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 Mortgtrges and Deeds of Trent; Charges; Liens. Borrower shall perform all of Borrower's obligatians
<br />under any mortgage. deed of trust or other security agreement with a lien which has priority over this Deed of Trust,
<br />including Borrower's covenants to make payments when due. Borrower shall pay or cause to be paid ail 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. Harard [naarance. Borrower shall keep the improvements now existing or hereafter 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 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 [elms of any mortgage. deed of trust
<br />or other security agreement with a lien which has priority over [his Deed of Trust.
<br />In the event of toss. Borrower shall give prompt notice to the insurance tamer and Lender. Lender may make proof
<br />pf 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 [he 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 collect and apply the insurance proceeds at Lender's option either [n restoraron or repair of the
<br />Property or to the sums secured by this Deed of Trust.
<br />6. Preservation and Maintenance of Property: Leaseholds; Condominiums; Planned Unit Developmenu. Bor-
<br />rower shall keep the Property in good repair and shalt not commit waste or permit impairment or deterioration of the
<br />Property and shall rnmply with the provisions of arty lease if this Deed of Trust is on a leasehold. If 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 creaeing or governing the condominium or planned unit development, the by-law's and
<br />regulations of [he condominium or planned unit development, and constituent documents.
<br />7. Ptotatba of lender a Seenrity, If Barrower Fails to perform the covenants and agreements contained in this
<br />Deed of Trust, or if any action or proceeding is commenced which materially ati'ects Lender's interest in the Property,
<br />then Lender, at Lender's option, upon notice to Borrower, may make such appearances, disburse such sums. including
<br />reasonable attorneys' fees, and take such action as is necessary [o 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 accordance with
<br />Borrower's and Lender's written agreement or applicable law.
<br />Any amounts disbursed by Lender pursuant to this pazagraph 7, with interest [hereon, at .the No[e rate, shall
<br />become additional indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lendec agree to
<br />other terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting p yment
<br />thereof. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder.
<br />S. Lspection. Lender may make or cause to be made reasonable entries upon and inspections of the Propem.
<br />provided that Lender shad give Borrower notice prior to any such inspection specihing reasonable cause therefor
<br />related to Lender's interest in the Property.
<br />9. Coodemnation•_The proceeds of any award or claim for damages. direct or consequential. in connection with
<br />any condemnation or ether taking of the Properly, or part thereaf, or fo r conveyance in lieu of condemnation, are
<br />hereby assigned and shall be paid to Lender, subject to the terms of any mortgage. deed of trust ur other security agree-
<br />ment with a lien which has priority over this Deed of Trust.
<br />10. Borrower Nat Released; Forbearapce By Lender No[ a Waiver. Extension oC the time for payment or
<br />modification of amortization of the sums secured. by this Deed of Trust granted by Lender to any successor in interest of
<br />Borrower shall not operaie to release, in any manner, the liability of the original Borrower and Bortowrr's successors in
<br />interest. lettder shall not be requited to commence proceedings against such successor ur refuse u+ r~tend time for pay-
<br />ment or otherwise modify amortization of the sums secured try this Deed of Trust by reason of ar . :nand made by the
<br />original Borrower attd Borrower's successors in interest. Any forhearance by Lender in exerctstnk arty right ur remedy
<br />hereunder, or atherwise afforded by applicable law, shall not he a waiver of ar preelude the rxerctse of am' such right ur
<br />remedy.
<br />li. Stxcesaors and Assigns Boundr Joint and Several liabi-ity, Cosigners. Ttt+: .,xvcnants .end agreements
<br />herein contained shalt bind. and the rights hereunder shall enure to, tt~ respecttve aucce,.sure a~ : assigns .+t Lender and
<br />Borttrwer. subject to the provisions of paragraph Ib hennf. All covenant, and agreements uI Burrower shall tx p+int and
<br />several. Rev Bvrrowrr wMs co-siKns this Dyed of Truer. but E{Ol`S nut a•ce~~ae ttw !Vole, tat is cu-stgmnk this Deed of trust
<br />+rtl: tG grant and can<ey that kWrruwvr~s intrecht to the !'r~.prns t~, 7-r ;tee un.ler the tcrni+ ail thrti llecd ++i [rust. tb1 is
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