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200001729
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Last modified
10/13/2011 10:39:07 AM
Creation date
10/20/2005 7:54:51 PM
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DEEDS
Inst Number
200001729
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200001729 <br />5. Borrower shall retain possession of the premises at all <br />times, except as may be otherwise agreed by the parties in <br />writing. <br />6. Borrower shall maintain the buildings and improvements <br />and all personal property sold under the parties' installment <br />sale contract, in good condition and repair. <br />7. Borrower shall keep the improvements on said premises <br />insured against loss by fire and hazards included within the term <br />"extended coverage" for their insurable value and policies for <br />the same shall include a standard mortgage clause showing Lenders <br />herein. In the event of loss, Lenders may make proof of loss if <br />not properly made by Borrower. Insurance proceeds shall be <br />applied to restoration or repair of the property damaged, unless <br />both parties otherwise agree, except if restoration or repair is <br />not economically feasible or Lenders' security is not lessened, <br />otherwise, said proceeds shall be paid on the debt herein, <br />whether or not then due. <br />Unless Lenders and Borrower otherwise agree in writing, any <br />payments or proceeds from insurance shall not extend or postpone <br />the due date of the monthly payments provided in said note, or <br />change the amount of the payments. <br />8. Borrower shall pay to the Lenders, if Lenders so <br />require, together with and in addition to the regular monthly <br />payments of principal and interest, on the date set forth for the <br />making of the payment each month, a sum as established by the <br />Lenders equal to the taxes and special assessments next due on <br />the premises, plus the premium that will next become due and <br />payable on insurance policies covering the premises, divided by <br />the number of months to elapse before one month prior to the date <br />when such taxes, special assessments and premium will be due. <br />Said sums to be held by the Lenders in trust to pay the taxes, <br />special assessments and insurance premiums. Any deficiency in <br />the amount of any aggregate monthly payment (principal, interest, <br />taxes, special assessments and insurance premium) shall <br />constitute a default. The arrangements provided for in this <br />subparagraph are for the added protection of the Lenders, and <br />entail no responsibility on the part of the Lenders or Trustee. <br />9. If Borrower fails to perform the covenants and <br />agreements herein contained, Lenders may do and pay for whatever <br />is necessary to protect the value of the property and Lenders' <br />rights in the property, including the paying of any sum secured <br />by a lien which has priority over this security instrument, <br />appearing in court, paying reasonable attorney fees and entering <br />3 <br />
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