83003708 - Laserfiche WebLink

Browse

F'~ (j'U-37U~ .'i..,;- t if Borrower pay"S Funds to Lender. the Funds shall be held in an institution the deposits or accounts of which are insured or guanmteed 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 'Ierifying 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. [fthe amount of the Funds held by Lender, together with the felture 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 they fall due. such excess shall be, at Borrower's crption, either promptly repaid to Borrower crr credited tcr Borrower on monthly installments of Funds. If the amount of the Funds held by Lender shall not be sut'ficient 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. Appllcad~ln of PaymenQ, 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 p,aragraph 2 hereof. then to interest payable on the Note. and then to the principal of the Note. ... Prior MortglllN IUld Dee. of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations under any mortgage, d.eed of trust or other security agreement with a lien which has priority over this Deed of Trust, including Borrower's <:ovenants to make payments when due. Borrower shall payor cause to be paid all taxes, assessments and ()ther charges. fines and impositions attributable to the Property which may attain a priority over this Deed of Trust, lmid leasehold payments or ground rents. if any, 5. Hazard h.._. Borrower shall keep the improvements now 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 insuralnce carrier providing the insurance shall be chosen bv Borrower subie,.t to apprO\'al by Lender: provided. that such apprc"'lll shall not be unreasonably withheld. All insurance poliCieS and renewals thereof shall be in a form acceptable to le~lder and shall include a standard mortgage clause in favor of and in a f()fm acceptable to Lender. Lender shall han' the right 10 hold the policies and renewals thereof. subject to the terms of any mortgage. deed of trust l)r other security a.greement v.-lth a lien which has priority over this Deed of Trust. In the event ()f loss. Borrower shall gIVe prompt nOllce to the Insurance camel' and Lcnder, Lender may make proof of!oS$ if not made: promptly by Borrower. If the Property IS .lbandoned by Borrower. or If Borrower taib to respond to Lender wllhm .10 days from the dale nonce is mailed by Lender to Borrower that the Insurance carner otters to settle a claim for msurance benefits. Lender IS aUlhonzed to (Xllllecl ;ltId apply the lllsurance proceeds al Lender's opwm either !O rl'storallon or replm of the Property Of to the sums St:cured by this Deed of Trust. I~. P~II1I01l and MllintealUlce of Property; Leueboldi; Condominiums: Planned Cnil Developmenl$. Bor, rower shall keel) Ilhe Property In gOQd repalf and shall not commH ICI,le or pemlll Impalrmenl or detenorauun of the Property and shall comply with the prOVISIOnS of any lea,e IflhlS Deed .)\ Trust IS on a leasehold. If thiS Deed of Trust is on a amt in a condomUllum or a planned unn devd(lpmenr, Borrower ~hall pertllrm all 01 Borrower" obl1gati<'llls under the declaration \lir cO\l~:nants creating Ill' govermng lhe ,'ondOmllllum or planned unit dcvelopmem. the bl/-Iaws and regulations of the COnd\lmllllUm or planned Untl de\'e1opmenl. and constltuenl documents. i. Pl'OtecliOlll of Lf:Dder's SecurUy. If Borrower fails 10 pertorm the covenants and agreemenc... \:l>ntalned in this Deed of Trust. iCIr If any aClIon or pro...'"..edlllg is eommen,'ed Wh'Ch matenally atleels Lt:nders inten:sr in rhe Property, then Lender, at Lender's option, upon notice to Borrower. may make ~uch appearances. disburse ,uch ,urns. Including reasonable att01;T1ieys' tees. and take such action as IS necessary to protect Lender's Inlerest, If Lender required mortgage insurance as a condition of making the loan secured by Ihis Deed of Trust. Borrowet ,hall pav the premIUms requm:d to mamtain such ID!iUranCe in effect until such nme as the requirement for such lllsurance termillates in ac,'ordance with Borrower's and umder's wrinen agreement or applicable law. Any amounts disbursed by Lender pursuant to ll'm paragraph ~, with interesl thereon. at the Note rate. shall Oecome addition.ll indebtedness of Bomlwer secured bv thiS Deed of Trust. l.'nless BOff(JII.er and Lender agree to other terms of p.lymem. such amounts shaH be payable upon notice from Lender to Borrov.er requesting P "mem thereof. NOlhing contained in IhlS paragraph -; shall reqUlre Lender to lllcur any expen,e or [lIke any action hereunder. ,8. lnapedioll. Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided that Lender shall give Borrower notice prior to any such lmpection speCIfying reasonable calise therefor related to Lendc~r's interest in the Property. 9. Condemnation. The proceeds of any award or claim t;')r damages. direct or consequentlal. in connection with any condemnation or orher taking of the Property. or part thereof. or for conveyance in lieu of condemnation, are hereby assigned lwd shall be paid to Lender. subject to the lerms of any mortgage. deed of trust or Gther secumy agree. ment with a lien which has priority over this Deed of Trust, 10. &lon:owe'f Not Reka:sed; foroearlU$ce By lAmBeI' NUl II Waiver. ExtenSIOn of the tun(: for payment Ilr modification of amortization of the Sl.Ims secured by this Deed of Trusl granled by Lender ~o ;:in} ,uc,",,,,,sor lrI inlerest of toreolease. in any man.Her; the IiabilHY' of the onginai Borrt')\\>~r 3nd Botrowt~r's succe$snrs i.n .not be proceedings againsr ~,uchsucctsS(,t or refuse' to extend tlrne fOt" amortization of the sums secured by rl'HS Deed o! 'Trust by n:;t.wn anI' demand made by In intere'SLt,-nj" forbt:i1t,::.H1Ct.;:' Lender U1 ~x('rcuiing any :r1.ghtfH' remedy La~w" shtd.l not be aW~U(ier pr0t,;.iudc !.ht: (~.\er('t'$e tit' ;jny >;ueh right ,I).!