85000963 - Laserfiche WebLink

Browse

If Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments, insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this Deed of Trust that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Deed of Trust. If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes, assessments, insurance premiums and ground rents as the '• tall due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments. insurance premiums and ground rents as they fall due. Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as Lender may require. Upon payment in full of all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Deed of Trust. 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs I and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof, then to interest payable on the Note. and then to the principal of the Note. 4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations under any mortgage. deed of trust or other security agreement with a lien which has priority over this Deed of Trust. including Borrower's covenants to make payments when due. Borrower shall pay or cause to be paid all taxes. assessments and other charges, lines and impositions attributable to the Property which may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if an' . S. Hazard Insurance. Borrower shall keep the improvements note existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage ". and such other hazards as Lender may require and in such amounts and for such periods as Lender may require. The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided, that such approval shall not be unreasonably withheld. All insurance policies and renewals thereof shall he in a firm acceptable to Under and shall include a standard mortgage clause in tavor of and in a form acceptable to lender. Lender shall have the right to hold the policies and renewals thereof, subject to the terms of any nxrrtim c. deed of trust or other security agreement with it lien which has priority over this Deed of Trust. in the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender mat m;+kc• proot of loss if not made promptly by Borrower. If the Property is abandoned by Borrower, or if Borrower 1;tiIs to respond to Lender ,whin 3o d.n, tr,rrn the• date notice is mailed by Lender to Borrower that the insurance carrier oiler, to settle a claim for nsurartrc hcnciits. 1-cndcr IN authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair , +t the Property or to the sums secured by this Deed of Trust. 6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Bore rower shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration ,1f tite Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. it this Decd ,I I rust is on a unit in a condominium or a planned unit development, Borrower shall perform all of Borrower\ obligations under the declaration or covenants creating or governing the condominium or planned unit develops tent, the h%-Iims and regulations of the condominium or planned unit development, and constituent documents. 7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this Deed of Trust. or it' anv action or proceeding is commenced tehich materially all ects Lendcr's interest in the Propert'. then Lender, at Lender's option, upon notice to Borrower. may make such appearances, disburse such sums, including reasonable attorneys' fees, and take such action as is necessary ro protect lender's interest. It lender required mortgage insurance as a condition of making the loan secured by this Deed of Trust. Borrower shall pay file premiums required to maintain such insurance in effect until such time as the requirement tilt such insurance terminates in accordance with Borrower's and Lenders written agreement or applicable law. Any amounts disbursed by Lender pursuant to this paragraph with rnicrest thereon, m the time ra(e, shall become additional indebtedness of Borrower secured h' this Deed nt irust. Unless Borrower and Iendcr agree 1.) other terms of payment. such amounts shall he payahlc upon notice from [ender to Borrower requesting pa'nleni thereof. Nothing contained in this paragraph -shall require L under to incur :1,t' c xpcnsr nr take any action hereunder. R. Inspection. Lender may make or cause 10 be made reasonable entries upon and impccu,1ns ,11 the Prupertc. provider{ that Lender shall give Borrower notice prior to an' such inspection ,pealing reasmiahle causa• ihcrctor related to lender's interest in the Property 9. Condemnation. The proceeds of any award or claim Inn damages. direct .,r con,eyucnual. 111 y,nuucuun ,with any condemnation or other taking of the Prolx•rt. •a part thereof, . +r for conycvance in )it'll ,d rondenrnat it'll . are hereby assigned and shall be paid to lender, subject to the terms 1,t am mortgage. ,iced ,+t uu,t „r „thcr "'runty ,rgt'ec- ment with it lien which has priority over this DrM ,11 Trust. Ill. Borrower Not Released; Forbearance ply Lender Not a Wainer. I xten"um .,1 rho nnu• Iur i +atntt•nt .11 ttuxlification of amortization of the sums secnnxl by this I1'e•d nt I ?1,,r gr:ntt'd ht I coder n, ,1,o sltcees "nr 1,1 overt' ,.I Borrower snail nut operate to release. in anv manner the 1lahrhry .,I the ,.rit:111.11 Iiorn.,u r ,nnl limlm'cr'" interest Lender shall not he re•quir(A tocornmruce pr,,cccdtnps agautst ,n'1) "u,re„,n „1 u•lu", 1.,'vtrnd lime I„r i.ey went of urherwise m,rdity amortization of the suns" ,cctircd ht till, I1),•.1 .d I ru,l I,t t� gym .,I ,,n. armand nrlde h, the original forrower and Borrower', successors 111 mterr"t lrty i,owm.sir, 111 I cn,ier 1,1 , 1111 r•inc .lira 111:1); ,1 1rnud, hereunder. nr olherwme allmded I+v apphcahlr lair. ,hall 11,11 111• ,1 1 tio'1 ,t .•1 pt,, 11c . N` .,, „t ...,, .u, i+ 11ehl „r rtrmetf v 11. Survessors and :lxalgnn Hound; Joint And Several I iabfflil 1wrrv•111 „mtalne.i ,11,111 hn1.I ..rid thr Ilgj,i, hcr,vnul <•, ,1): +II unur 1 rho 1,,11,, 111.- - , ,11 1 .,.,loan, . I ..,I•. -. ,u„ ES„rr <nier,.,l,;c,l r,r 11),. l,rn•.1,1.m„M perdgtapll 1,, heront AII,nr11,1n1- .,.11,1 ..K1rr.ncI'll , ih•c,I 0 1 r11,i . hill d-." rod ,.�,c.ni, I Ii, Vl;r .. .,en1 ;!n: l4-c.I i,I I.•.1.. t :r.relr .1tn1 111.,. It,,, l—', r 1,11,:,..,• 111 Ihr I'r „L. 1. .,.1,” -i'l. ; .,... 1 it— . ",,, t ',t•.