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<br /> . I If Borrower pays Funds to I.ender,che Funds shall be held in an insdtudon the deposits or accounts of which ere insured . , '_ . ,`t�.
<br /> j or guaranteed by a fcderal or st�s[n egency(including Lender if L.ender is such an institution). L.ender shall apply[he Funds to - .
<br /> ' pdy s;iid taxes,assess�nenss, insurance premiums :uid ground rents.Lender may not charge fur so holding and applying the Funds, , _
<br /> ' � analyzing said xcwunt or verifyingand compiling said assessmen[� and bilLs,unless Lender pays Bonower interesc on the Funds ; ` . _
<br /> + aad applicable law permits Lender to make such x chxrge.Borrower and Lender may agree in wriang at[he time ot execudon : ` ,
<br /> � ! of this Deed of Trust ttust interest on the Funds shall be paid to Aorrower,and untess such agreement i�mnde or applicable law • , : :���
<br /> ' requires such interest to be paid,Lender shall no[ be required to pay Borrower any interest ur eamings on the Funds. I.ender .;:.;=-_
<br /> �`S ,hall give to Bonower, without charge,an annual accuundng of t[ie Funds showing credits and debits to the Funds and the ,
<br /> purpose Y'or which each dehit to the Funds was made.The Funds are pledged as addiaonal seeuciry for the sums secured bY this ' �, �,
<br /> �...i
<br /> � Deed of Ttust. •, _
<br /> � If the amount of ihe Fuads held by Lender,together with che 1'un;re monttily installmenu of Funds payable prior to the due
<br /> . dates of texes,assessmencs,insurance premiums and ground rents.shall exceed the amuunt rcquired to pay said taxes,assessmenu, ��_
<br /> insurence preauums and ground nnu as they falI due, �uch excess sha11 be,at BurroNer's option, either prompdy repaid [o : , ..__
<br /> Butrower or credited to Borrower un munihly instellments ut Eunds. !f the amount of the Funds held by L.ender shall not be { � . ' • `
<br /> sut3icient [o pey taxes,assesstnents, insurance premiums end ground rents as they fall due, Borrower shall pay co Lender any � =
<br /> •-; ` . .
<br /> � emount necessery to make up Ihe dehciency in unC u[mure paymenu as Lensler may require. • .. . -
<br /> Upoa payment in full uf all sums secured by this Deed of Trust, Lender shali prompUy refund to Borrower any Funds held
<br /> i by Lender.lf,under par-agraph 17 hereof the Property is sold or the Praperty is othenvise acquired by Lender,Lender shall appIy, � ^ __
<br /> no later than immedia[ely priur to the sale of the Propert}+or its acquisidon by Lender,any Funds held by Lender at the time of � �r_
<br /> a p plicadon as a credit againsc the sums secured by this Deed of Trust. 6 . . ,. ...�._
<br /> 3. Applicatiou of Payments. Unless applicable law provides atherwise,all payments received by Ixnder under the Note a n d � . ;�.���;,;:
<br /> paragraphs 1 and 2 hereof shall be applied by Lendar first in payment of amounts payable to Lender by Borrower under paragraph � .
<br /> �: �'
<br /> 2 hereof,then to interesc payable on the Note, and then to the principal of the Note. _ .
<br /> 4. PrFor Mortgeges and Deeds oYTrust;CLarges;1denS. Bonower shall perform all of Borrower's obligations under any ' �. ; . `_+
<br /> mortgage,deed of mLSt or other security agreemeat with x lien which has a prioriry over this Deed of Trust,inctuding Borrower's C .. • ___
<br /> ' covenants to make payments when due. Borrower shall pay or cause to be paid all taxes.assessments, and other charges,fines �
<br /> and imgositioas aaributable to the Property which may xttain a priority over this Deed of Tnut, and leasehold payments or , � '`-
<br /> ground renu,if any. _. ,�,� �:�•�� .
<br /> . 5. Hazard InSUrance. Horrowet shail keep the improvements naw existing or hereafter erected on the Property insured �� , '- r °• — '°�-_
<br /> against loss by fire.hazards included within the term "extended coverage,"and such other hazards as I.ender may require and in � : ; ,...�r�
<br /> such amounu xnd for such periods as L.ender may require. � '� F{}� .� _=
<br /> �:*`-.al�:�'�.
<br /> , The insurance carrier providing the insurance siull be chosen by Borrower subject to approval by Lender;provided,thac such ��;' �
<br /> �..:
<br /> approval shall nut be unreasonably withheld. All insurance policies and renewals thereof shall be in a fotm accepusble to Lender �,; ` ! :� i �;
<br /> and shall include a s�tandard mortgage clxuse in favor of and in a form acceptable to Lender.Lender shall have the right to hold �
<br /> the poticies and renewals thereof,subject to the terms of any mortgage,deed of trust or other securiry ageement with a lien which _: ':•�': �'
<br /> has priority over this Deed of Tru,t. �
<br /> �, . ���' �.-,,.
<br /> . � In the event of loss,Borrower shaU give prompt fiotice[o the insurance carrier and Lender. Lender may make pruof of loss �;�;�„ �
<br /> if not made prompUy by Borrower. , • �:'1� r �
<br /> If the Properry is abandoned by Bortower,or if Borrower fails to respond to Lender widun 30 days&om the date nodce is . :.'' ,�( c` '
<br /> mailed by Lender to Boreower that the insurance carrier offers to settle a claim for insur'nnce benefits,Lender is authorized to {,s.
<br /> ' � collect and apply the insurence proceeds,a[Lender's option,eicher[o restoraaon or repair of the Property or to the sums secured " •��( •
<br /> . by this Deed of Trust. - • �: _ . "':i��. . �.
<br /> 6. Presen+atIon and Maintenance of Propeity;l.ease6olds;Condominiums; Ptanaed Uai3 DeveQopments. Bonower shall ``�r r �_��a�
<br /> � keep the Property in goad repair and shall not commit waste or permic impairment or deterioration of the Ptoperty and shall `��;_�i����
<br /> � comply with the provisions of any lease if this Deed of Trus[is on a leasehoid.If this Deed of Trust is on a unit in a condominium ; 4f� - �__--
<br /> � or a plaius�.d unit development, Borrower s6a11 perform aU of Bosrower's obligauons under the declaration o�wvenanta creapng ��� • ���-
<br /> ,�,} .�_
<br />"" or goveming the condominium or pianned unit development, the by-lews and regulaaoas of the condominium or planned unit �. , _,._
<br /> , development, and cons[ituent documents. '. �
<br /> 7. Protectlon o!Lendee's Securlty. lf Borrower fails to perform the covenants and agteements wntained in this Deed of ,"`;�• ,_�_ , �
<br /> Tn�st. or if any acrion or praceeding is commenced which materially effects Lender's interest in the Property,then Lender,at � -;---'�'
<br /> Lender's option.upon notice to Borrower,may make such appeatances,disburse such sums,including reasanable attomey's fees, _ .., .- ,��y°°
<br /> - ,���
<br />' ' and take such acrion as is necessary to protect Lender's interest. If Lerder required mortgage insutance as a condition of making :; y�, •:_,
<br /> ' the loan secured by[his Deed of Tnist,Bonower shaU pay the premiums required to maintain such instuance in effect until sach , �_�_T..�- -
<br /> • time as the requirement for such insurance terntinates in acwrdance with Borrower's and Lender's wriuen agreement or applicable �-. -=���:_�
<br /> law. . ...
<br /> �._:
<br /> Any amounts disbursed by Lender pursuant to this peragraph 7,with interest thereon, at the Note rate, shall became . � �.�
<br /> � additional indebtedness of Bonower secured by this Deed of Trust. Unless Bonowet and Lender agree to other terms of payment, , , . . �
<br /> such amounts shall be payable upon nopce from Lender to Borrower requesting payment thereof. Nothing contained in this . • �'
<br /> �•:= paragraph 7 shall require Lender to incur any expense or take eny action hereunder. • •
<br /> S. laspection. Lender may make or cause to be mxde reasonable entries upon and inspections of tt�c Properry,provided � ' '`
<br /> that l.ender give Borrower notice prior to any such inspection specifying reason�,ble cuuse therefor related to Lender's intetest . .
<br /> in the Properry. : .
<br /> 9. Condemnatioa. '(he proceeds of any aw�ard or cleim for damages, direct or consequential, in cannecdon with any • ,
<br /> condemnarion or other taking of the Properry,or part thereof,or for conveyance in lieu of c:ondemnarion, are hereby assigned . --
<br /> and shall be paid to Lender, subject to the terms of any mortgage, deed of trust or other security agreement with a lien which • •
<br />. has priority over this Deed of Trust. • • . . _�
<br /> .' � 10. Borrower Not lteleased;Forbearance Sy Lender Not a Waiver. Eatension of the tims for paymenc or modification of .
<br /> .i amortiudon or the sums secured by this Dee�l of Tru�t granted by Lender to any successor in interest of Borrower shall noi • �_
<br /> i operate to telease,in any maruier, the liability of the uriginal Borruwer �nd Borrower's successon in interest. I.ender shall not
<br /> be required to wmmence proceedings ageinst such successor or refuse to extend time for payment or othenxise modify `'
<br /> � atnortizxtiun uf the sums secured by this Deed of Trust by rexson of any demend made by the original Honower and Borrower's � , �•
<br /> � successors in interest.Any forbearance by Lender in exercising eny right ar remedy hereunder, ur orherwise afforded by�ppliceble f
<br /> I law,shxll not he a waiver of or preclude the exercise of any such right ur remedy. I
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