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941 90350 <br /> provisions of the Resale Restriction Agreement and Option to Designate <br /> Eligible Purchaser executed between the Borrower and the City and <br /> dated the same date as this Note ( "Resale Agreement "). <br /> 2. Funds for Taxes and Insurance. Subject to applicable law, a written waiver by <br /> Lender, or the requirements of a deed of trust prior to this Deed of Trust, Borrower shall <br /> pay to the holder of the prior deed of trust in a timely fashion and as required by the holder <br /> of the prior deed of trust all yearly taxes and assessments which may attain priority over this <br /> Deed of Trust, plus all yearly premium installments for hazard insurance and mortgage <br /> insurance, if any, all as reasonably estimated initially and from time to time by Lender on <br /> the basis of assessments and bills and reasonable estimates of these amounts. <br /> Any funds so collected in advance of payment by the Holder of the prior deed shall <br /> be held in an institution the deposits or accounts of which are insured or guaranteed by a <br /> Federal or State agency. All funds so held shall be used to pay taxes, assessments and <br /> insurance premiums. Borrower shall provide to Lender, without charge, a copy of the <br /> annual accounting of the funds provided by the holder of the prior deed showing credits and <br /> debits to the funds and the purpose for which each debit to the funds was made. The funds <br /> are pledged as additional security for the sums secured by the prior deed of trust. <br /> If the amount of funds held by the holder of the prior deed of trust becomes <br /> insufficient to pay taxes, assessments and insurance premiums as they fall due, Borrower <br /> shall pay to the holder of the prior deed of trust any amount necessary to make up the <br /> deficiency within thirty (30) days from the date notice is mailed by such holder to Borrower <br /> requesting payment on these amounts. <br /> 3. Application of Payments. Unless applicable law provides otherwise, all <br /> payments received by Lender under the Note and Sections 1 and 2 hereof shall be applied by <br /> Lender in the following order to amounts owed by Borrower: <br /> a. First, in payment of interest on any Future Advances made pursuant to <br /> Section 25 of this Deed of Trust. <br /> b. Second, in payment of principal on any Future Advances made <br /> pursuant to Section 25 of this Deed of Trust. <br /> c. Third, in partial payment of that portion of the principal and contingent <br /> interest related thereto which are described in Section I.A. of the Note. <br /> 4. Occupancy. Borrower and his or her immediate family shall be the sole <br /> occupants of the property conveyed by this Deed of Trust, subject to Section 23. Borrower <br /> or his or her immediate family shall not lease the Residence for more than two months <br /> during any calendar year and shall not lease the Residence without providing the City with a <br /> copy of the lease. Any lease in violation of this Agreement is prohibited. Notwithstanding <br /> - 3 - <br />