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202104648
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Last modified
6/1/2021 4:05:37 PM
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6/1/2021 4:05:36 PM
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DEEDS
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202104648
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202104048. <br />1. BORROWERS shall pay when due, the principal and interest <br />as provided in said note. <br />2. All payments received by LENDERS shall be first applied to <br />advances which may have been made by LENDERS and then to interest <br />due and last to the principal due. <br />3. BORROWERS shall pay all general real estate taxes and <br />special assessments against the property before the same become <br />delinquent. <br />4. If LENDERS determine that any part of the property is <br />subject to a lien, which is or may attain priority over this <br />security instrument, LENDERS may give BORROWERS a notice <br />identifying the lien and BORROWERS shall satisfy the lien within <br />ten (10) days. <br />5. BORROWERS shall retain possession of the premises at all <br />times, except as may be otherwise agreed by the parties in writing. <br />6. BORROWERS shall maintain the buildings and improvements <br />and all personal property sold under the parties' installment sale <br />contract, in good condition and repair. <br />7. BORROWERS 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 the <br />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 BORROWERS. 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, whether <br />or not then due. BORROWERS shall provide proof of insurance <br />coverage to the LENDERS and to the TRUSTEE on an annual basis. <br />Unless LENDERS and BORROWERS otherwise agree in writing, any <br />payments or proceeds from insurance shall not extend or postpone <br />2 <br />
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