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201508216
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Last modified
5/17/2016 12:56:38 PM
Creation date
12/3/2015 1:58:01 PM
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DEEDS
Inst Number
201508216
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201508210 <br /> 4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of <br /> Borrower's obligations under any mortgage, deed of trust or other security agreement with a lien <br /> which has priority over this Deed of Trust, including Borrower's covenants to make payments <br /> when due. Borrower shall pay or cause to be paid all taxes, assessments and other charges, fines <br /> and impositions attributable to the Property which may attain a priority over this Deed of Trust, <br /> and leasehold payments or ground rents, if any. <br /> 5. Hazard r Insurance. keep nce. Borrower shall kee the improvements now existing or hereafter <br /> erected on the Property insured against loss by fire, hazards included within the term "extended <br /> coverage", flood and such other hazards as Lender may require and in such amounts and for such <br /> periods as Lender may require. <br /> The insurance carrier providing the insurance shall by chosen by Borrower subject to approval <br /> by Lender; provided, that such approval shall not be unreasonably withheld. All insurance policies <br /> and renewals thereof shall be in a form acceptable to Lender and shall include a standard <br /> mortgage clause in favor of and in a form acceptable to Lender. Lender shall have the right to <br /> hold the policies and renewals thereof, subject to the terms of any mortgage, deed of trust or <br /> other security agreement with a lien which has priority over this Deed of Trust. <br /> In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. <br /> Lender may make proof of 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 <br /> days from the date notice is mailed by Lender to Borrower that the insurance carrier offers to <br /> settle a claim for insurance benefits, Lender is authorized to collect and apply the insurance <br /> proceeds at Lender's option either to restoration or repair of the Property or to the sums secured <br /> by this Deed of Trust. <br /> 6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit <br /> Developments. Borrower shall keep the Property in good repair and shall not commit waste or <br /> permit impairment or deterioration of the Property and shall comply with the provisions of any <br /> lease if this Deed of Trust is on a leasehold. If this Deed of Trust is on a unit in a condominium or <br /> a planned unit development, Borrower shall perform all of Borrower's obligations under the <br /> declaration or covenants creating or governing the condominium or planned unit development, the <br /> by-laws and regulations of the condominium or planned unit development, and constituent <br /> documents. <br /> 7. Protection of Lender's Security. If Borrower fails to perform the covenants and <br /> agreements contained in this Deed of Trust, or if any action or proceeding is commenced which <br /> materially affects Lender's interest in the Property, then Lender, at Lender's option, upon notice <br /> to Borrower, may make such appearances, disburse such sums, including reasonable attorneys' <br /> fees, and take such action as is necessary to protect Lender's interest. If Lender required <br /> mortgage insurance as a condition of making the loan secured by this Deed of Trust, Borrower <br /> shall pay the premiums required to maintain such insurance in effect until such time as the <br /> requirement for such insurance terminates in accordance with Borrower's and Lender's written <br /> agreement or applicable law. <br /> Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the <br /> Note rate, shall become additional indebtedness of Borrower secured by this Deed of Trust. <br /> Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable <br /> upon notice from Lender to Borrower requesting payment thereof. Nothing contained in this <br /> paragraph 7 shall require Lender to incur any expense or take any action hereunder. <br /> 8. Inspection. Lender may make or cause to be made reasonable entries upon and <br /> inspections of the Property, provided that Lender shall give Borrower notice prior to any such <br /> inspection specifying reasonable cause therefor related to Lender's interest in the Property. <br /> 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, <br /> in connection with any condemnation or other taking of the Property, or part thereof, or for <br /> conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender, subject to <br /> the terms of any mortgage, deed of trust or other security agreement with a lien which has <br /> priority over this Deed of Trust. <br /> 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for <br /> payment or modification of amortization of the sums secured by this Deed of Trust granted by <br /> Lender to any successor in interest of Borrower shall not operate to release, in any manner, the <br /> liability of the original Borrower and Borrower's successors in interest. Lender shall not be <br /> required to commence proceedings against such successor or refuse to extend time for payment <br /> or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any <br /> demand made by the original Borrower and Borrower's successors in interest. Any forbearance by <br /> Lender in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall <br /> not be a waiver of or preclude the exercise of any such right or remedy. <br /> Page 3 ENE208-e <br />
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