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� 98- ia3osl
<br /> If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior
<br /> to the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay
<br /> said taxes, assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Bonower's
<br /> option, either promptly repaid to Bonower or credited to Bonower on monthly installments of Funds. If the amount
<br /> of the Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents
<br /> as they fall due, Bonower shall pay to Lender any amount necessary to make up the deficiency in one or more
<br /> payments as Lender may require.
<br /> Upon payment in full of all sums secured by this Deed of Trust, Lender shall promptly refund to Bonower 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 I,ender,
<br /> any 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 payment of amounts payable to Lender by
<br /> Bonower under paragraph 2 hereof, then to interest payable on the Note, and then to the principal of the Note.
<br /> 4. Prior Mortgages and Deeds of Trust; Charges; Llens. Bonower shall perform all of Borrower's
<br /> obligations under any mortgage, deed of trust or other security agreement with a lien which has priority over this
<br /> Deed of Trust, including Bonower's covenants to make payments when due. Bonower shall pay or cause to be paid
<br /> all tazes, assessments and other chazges, fines and impositions attributable to the Property which may attain a
<br /> priority over this Deed of Trust, and leasehold payments or ground rents, if any.
<br /> 5. Hazard Insurance. Bonower shall keep the improvements now ezisting 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;
<br /> provided, that such approval shall not be unreasonably withheld. All insurance policies and renewals thereof shall be
<br /> in a form acceptable to Lender and shall include a standard mortgage clause in favor of and in a form acceptable to
<br /> Lender. Lender shall have the right to hold the policies and renewals thereof, subject to the terms of any mortgage,
<br /> deed of trust or other security agreement with a lien which has priority over this Deed of Trust.
<br /> In the event of loss, Bonower shall give prompt notice to the insurance carrier and Lender. Lender may make
<br /> proof of loss if not made promptly by Bonower.
<br /> If the Property is abandoned by Bonower, or if Bonower fails to respond to Lender within 30 days from the
<br /> date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits,
<br /> Lender is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of
<br /> the Property or to the sums secured by this Deed of Trust.
<br /> 6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments.
<br /> Bonower shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of
<br /> the Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. If this Deed of
<br /> Trust is on a unit in a condominium or a planned unit development, Bonower shall perform all of Bonower's
<br /> obligations under the declazation or covenants creating or goveming the condominium or planned unit development,
<br /> the by-laws and regulations of the condominium or planned unit development, and constituent documents.
<br /> 7. Protection of Lender's Security. If Bonower 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
<br /> Property, then Lender, at Lender's option, upon notice to Bonower, may make such appearances, disburse such
<br /> sums, including reasonable attomeys' fees, and take such action as is necessary to protect Lender's interest. If
<br /> L,ender required mortgage insurance as a condition of making the loan secured by this Deed of Trust, Bonower shall
<br /> pay the premiums required to maintain such insurance in effect until such time as the requirement for such insurance
<br /> terminates in accordance with Borrower's and Lender's written agreement or applicable law.
<br /> Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the Note rate, shall
<br /> become additional indebtedness of Bonower secured by this Deed of Trust. Unless Bonower and Lender agree to
<br /> other terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting payment
<br /> thereof. Nothing contained in this pazagraph 7 shall require Lender to incur any ezpense or take any action
<br /> hereunder.
<br /> 8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property,
<br /> provided that Lender shall give Bonower notice prior to any such inspection specifying reasonable cause theref r
<br /> related to Lender's interest in the Property. Form
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