84004513 - Laserfiche WebLink

Browse

I 004513 B4-- I 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 dIld debits to the Funds and the purpose for which each debit w 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 sai.d taxes, assessments, insurance premiums_ and ground rents as they fall due, such excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. I f the amount of the Funds held by Lender shan not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due, Borrower shall pay [0 Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed by Lender to Borrower requesting payment thereof. Upon pa}ment m full of all sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph ]8 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. ApplicaUon of Paymenl.i1i. Unless applicable law provides otherwise, a1l payments receivtw:i by Lender under the Note and paragraphs 1 and 2 nereof shall be applied by Lender tlrst in payment of amounts payable to Lender by Borrower under paragraph 2 hereof. then to interest payable on the Note, then to the principal of the Note, and then to interest and principal on any Future Advances. 4. Charges; U4!ns. Borrower "hall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which may attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any, in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this. paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Deed of Trust; provided. that Borrower shall not be required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by such lien in a manner acceptable to Lender, or shaH in good faith ....<Jntest such lien by, or defend enforcement of such lien in, legal proceedings whi..:h operate w prevent the enforcement of the lien or forfciwre c. 'he Property or any part thereof. 5. Hazard Insunmce. Borrower shall k.;:ep the Jmproveme!',t.-, now existin~ _....1 nert-, ._r erected on the Property insured against loss by fire, hazards included wirhin the term . 'extended coverage". and such other hazard; i..... Lender may require and in such amounts and for such periods as Lender :n~j' r~~ire; pr0-v~ded, !.na.! Lender shall nm re-Qu!re that th~ amomH ('If such l~(Wer~ge e1(ceed th:u amount of covtrage required to pay Ihe ~ums secured by this Deed of Trust. The insurance carrier providing the insurance shall be \.'hosen by Borrower subject to approval by Lender; provided. that such approval shaH not be unreasonably withheld. All premiums on Insurance policies shall be paid in the manner provided under paragraph 2 hereof or. if not raid in ~uch manner. by Borrower making payment. when due. directly 10 the insurance carrier. All H1surance policies and renewals thereot shall be in form aCl.:eptable to Lender and shall include a standard mortgage clause in favor of and ill form a('ccptablc to Lender. Lender :-.haU have the right EO hold the policies and renewals thereof. and Borrower shall promptly furnish to Lender all renewal notH:es and all receipt\ ~}f paid premiums. In the event of loss, Borrower shali give prompt notice to the insurance carrier and Lender. I.coder may mah rwof of lo~':! .fnot made prompdy by Borrower. Unless lender a.nd Borrower otherWise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, provided such restoratiOn Of repair is economically feasible and rhe security of this Deed of Trust is not thereby impaired. 'If such reswration or repair is not C\:cnoflllcaHy feasible or if the security of this Deed of Trust would be impairedt the insurance proceeds shall be applied to the sums. s.<<ured by thl~ Deed of Trust. with the excess, if any, paid to Borrower. If the Property is abandoned. by Borrower, or if Borrower fails to respond to lender wltllln 30 days from the date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits. l.ender is authorized to collect and apply Ihe insurance proceeds at lender's option either to restoration or repair of the property...n to the sums se-.:ured by this Deed of Trust. Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due date of the monthly ins.tallments referroo to in paragraphs I and 2 herevf or change the amount of such installments. if under paragraph 18 hereof the Property is acquired by lender. aU right, litle and interest of Borrower in and to any insurance policies and in and to the procccd.s t~reof resultir-.g from damage to the Property prior to the sale or acqui:;ition shall pass to Lender to the extent of the sums secured by LtUs Deed of Trust immediately prior to such we or acquisition. 6, ..........lIoa .ad Mlllal~aaa<. or Proport)'; Leuebolds: Coadomlnlums; Pluaed Unit Oo..loplllell", Borrow~r shall keep lhe Property in good repau and shaH not ,,~ornmit waste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease if th~.s Deed of Trust is \.m a leasehl.lJd. I f this Deed of Trust is on a unit in a condominium or a planned unit development. Borrower shall perform aU of Borrower's obligations under the declaration or covenants creating or governing the condominium or planned unit developmem, the b)'~laws and regulations oi the condominium or planned unit development~ and constituent documents. If a condominium or plannN unii de,.-clopment rider is. ex~U{ed hy BorrV....-~l and re:.;orded togt:thet with this Deed of Trust, the co....enants and agreements of such rider shall be inl.:orporatoo into and shall amend arid supplement the cu\'cnants and agreements of this Deed of Trusl as if the rider were a pan heroof. i. Protection of Lender's SKurhy. If Borrower fails to perform the I.:ovenants and agreements contained in this Deed of Trust, or if any a..:tion 0r pr\.-x:~-ding is rommenced which matenally affel.:ts lender's interest in the Property, including. but not limited to, eminent domain, m.s.oh'en.:y. cooe enfor~elT1ent, Qr arrangements or prQt,,:eedings im'olvinll a bankrupt Of uet=c-dent, then Ltnder at Lender's option. upon notice It) Borrower, may mak.e- such appearances. disburse such sums and take such action as is necessar)' to protect Lender's interest, including. but not hmited to, disbursement of reasonable attorney's fees. and entry upon the Property to make repairs. If lender required mortgage insurance a5. a ..:ondition of making the loan securc-d by rnls Deed of Trust, Borrower shall pay the premiums requited to maintain such insurance: in effect until :':ouch time as the requirement fUf :!ouch msurance terminates in ai.':cordance with Borrower's and Lender's \\Titlen agreement or applicable law, Borrower shali pay the amount of ail mongage insuran.:c premiwns in the manner )rm:ided. under paragraph 2 herrof. Any amounts disbursed by lender pursuant to this paragraph 7, with interest thereon, shall become additional indebtedness of BorrOWtl st\.--urtd by this I)eed ot I rwt. Unless Borrower and Lender agret' to other terms of payment, such amounts shall be payable upon notice [rom Lend!:; to Ek)H(,wtr- requc_s.tlng payment thereof, and ~hall hear mterest from the Jate of di!obur~(ment at the rate payable from time to time on outstanding principal under the Note unless payment of 11llt:rest at su..:h ra.te would be l..:onuary to applicable-law, in which (ycnt such amount:) 'Shall hear interest at tht hIghest rate permissible under applicable- law, Nothing .:onlained in this paragraph 7 shall require LendC'f to incur any "'-pense- or lake any a.:tion hereunder ft. hUptdloD. Lender may makt: or \,:ausc to be made reasonable entries upon and ms(X'Ction~ of tht Property. pro....ided that Lruder ~hall glVC UOHowcr notil~t:' prior 10 any such inspe;:tion $pedf,..iog rCa30nable \.'aust therefor related to Lender'" lfltcr('~r tn the Property, q, ('.<<nd~D.tloo, rne prtk:t:.e'\h of an)' a\loard or daim fur damagc~, Jirect ur ,,;ume\.{ucmiitl. III ,:unncl.-Ullll with any ,:ondl'mn..tlhll\ l'1 other tOikHlg of the Pn.lpeoy. m pan thereof. or for \:ot)veyance In lieu or ..:om.lemnauon, art~ hereD)' <L\iII!lJled anJ :o;h.tU be p;uJ: tiJ 1 l."l'h.h,'j in the evenl .., Q !tHai t~kin@. of [he ~IWpert)', the pnx:eeds s.h.all he applittl to (he 'Ulm W":lHt'd b) dH~ Dec-d'll 1 ru....t. 'o\-Hh thl:" ("\, t::.-,> , If JH:~, 1~1.1.J h~ U-uffowcr. io ~he ("Vt:lU nf d partial u\ktnj! \11' rhe Propeny, link."" HUff,'wer and l.ender ,lthc'l'"'l:'>(, ;tgll'C ,11 \"';lllll.g, ,hen.' .~hall he .tppJtcd l{~ !he ....nn" "i-c..;:un:'d M)- !hn !ked (~f l'ru'it ~ui.-b r-fi1pnrt!rm lJf1he pr(ln'e~h ;-b j~ t'qua! (h<--il -pr'lfhll\h'll \>'!w.-h th,: ;~nh_\Un[ ,\( \11(' "t:n,'. ',':~'\H~'t~ L