84005366 - Laserfiche WebLink

Browse

I 84 - 005366 applicable law requires such interest to be p?id, Lender shall not be required to pay Borrower any interest or earnings on tbe Funds, Lender sball give to Borrower, without charge, an annual accounting of the Funds showing credits i1Ild debits to the Funds and the pLrpose for which each debit to the Funds was made, The Funds are pledged as additional seeurity for the sums secured by this Deed of Trust, ! f the amount or 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 saW taxes, assessments. insuran.ce premiums a:'1d 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 or Funds. If ihe a.-nount of the Funds he!d by l.~ndef shaH not be sufficient to pay ta."!:e5, as~sments; insurance premiums and ground rents as they rail due, Borrower shall pay to 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 payment in full of all sums seeured by this Deed of Trust, Lender,shall promptly refund to Borrower any Funds held by Lender, If under paragraph 18 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, then to the principal of the Note, and then to interest and principal on any Future Advances, 4, Charges, Uens, Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which may attain a priority over this Deed or 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 aU i'iotic~ of amounts due under tllis paragraph~ and in the event Borrower shall make payment directly, Borrower shaD promptly furnish to Lender receipts evidencing such payments, Borrower shall promptly discharge any tien 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 thepaymeot of the obligation secured by such lien in a manner acceptable to Lender, or shall in good faith conlest such lien by, or defend enforcement of such lien in, legal proceedings which operate to prevent the enforcement of the lien or rorfeiture of the Property or any part thereof, 5. HazanllDsorance, Borrower shall keep the improvements now existing", '-"'eafter erected on the Property insured apinst loss by tire, hazards included within the term' 'extended coverage", ..,d such other Ii",,' :, c, l.~der may reo:;"J< and in such amounts and for such periods as Lender may require; pro,ided. that Lender shall not ",air" thaI the ",,~,' ," of such coverage exceed that amount of coverage, required topay the SU!!'.5 ~urrd by [his Deed of Trust. The insurance carrier providing the insurance shall be chosen by Borrower subject to approvai by Lender; provided, that iucl; ,approvai , shall not be unreasonably withheld, All premiums on insurance policies shall be paid in the manner provid~"II under par~ 2 hereof or , if not paid in such manner, by Borrower making payment, when due, directly to the insurance carrier, All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage clause in favor of and in form acceptable to Lender, lender shall have the right to hold the policies and renewals thereof. and Borrower lIhall promptlyfumishto lender all renewal notices and all receipts of paid premiums, In Ihe event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower, Unless Lender and Borrower otherwise, agree in writing. insuram:e proceeds sha11 be applied to restoration or replirof the ~ damaged, provided such restoration or rql8..ir 15 economically feasibie and the so.~-;ty of this Deed of Trust is not ~~-t;..J impaL.~ If such restoration or repair is not economically feasible or if the security or this Deed of Trust would be impaired, the iosUl1lllCe ~ tbaI1. be applied to the sunu secured by this Deed of Trust. with the excess. if any, paid to Borrower, If the Property is abandoned by Borrower,or if Borrower rails to respond to Lender within 30 days from the date notice is mailed by Lender to Borrower that the insuraD<:e carrier offen to settle a claim ror insurance benefits. lender is authorized to collect and apply the insurance proceeds at Lender's optioa either to rest~or repair of the Property or to the sums seeured by this Deed of Trust. UD-Iess Lender and Borrower other...".se agree in writing, any such application of proceeds to principal sha11 not exttnd or JMlS!pC)Bthedu\t date of the monthly installments referred to in paragraphs I and 2 hereof or chlllllle the amount of such instaI1ments, If under paraaraph18 hereof the Property is acquired by Lender, all right, title and interest of Borrower in and to any insurance policies and in and to the,~ thereof resulting from damage to the Property prior to the sale or acquisition shall pass to Lender to the extent of the sums SIlCIII'CICi by lhiI Deed or Trust immediately prior to such sale or ...."Quisition, 6, "'-nadoll UMI MaI.__ of Property, I..olIadolda; CoadolDlal_; PIaued Ualt De.....,..... Borrower IbaI1 keep the Property lD good repair and shall not commit waste or permil impairotent or deterioration of the Property and IbaI1 comply wltll the proviIiou of any lease if this Deed of Trust is on a leasehold, If this Deed of Trust is on a unit in a condominium or a plumed unit devoIopmtnt, Borrowcr, ~UiJ: y.:;~'~-m all cf ~:':O';cl!~'5 ')~~t!~n! ~tn(if'r the declaration Or covenants creatina or IOverniq the coodomiDium or pIaaaCld unit development, the by-laws and regulations of the condominium or planned unit development, and constituent doetlD*lts. If. c:oncIominIum<< planned unit development rider is executed by Borrower and recorded together with this Deed of Trust, the covenants and ~ of such rider shall be incorporated into and <hall amend and supplement the covenants lWd aareemCIILS of this Deed of Trust as if the rider were a part hereof. 7, Proledioa of Lender's Seaulty, If Borrower fails to perform the covenants and agreements contained in this Deed of Trust, or if any action or proceeding is cGmmenced which materially affects Lender's interest in the Property, including, but not limited to, eminent domain, insolvency. code enforcement, ur arrangements or proceedings involving a bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower. may make sucn appeara.nces. ciisb~ ~u.;;.:h S.UllU -.fit:: take su,:h a.:ti~n UZ is ncc-~J' ~C: protect L..~~'s intere:t. mclud!nc. hut not limited to, disbursement of reasonable attorney's fees and entry upon the Property to make repairs, if Lender required mortaaae insurance as a condition of making the loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law, Borrower shall pay the amount of all mortgage insurance premiums in the manner provided under paragraph 2 hereof. Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and LenQcor agree to other terms of payment, such amounts shaH be payabic: upon notice frOill l.<ndtr to Borrower rcque..ting payment thereof. and shall bear interest from the date of disbursement at the rate: payable from time to time 00 out,tanwng principal illlder th. Note unless payment of interest at such rate ..'ould b., contrary to applicable law, in which event such amounts ,hall bar inter.S! at the hiahest rate permissible und<< applicable law, Nothing contained in this parqraph 7 shall require Lender to incur any Cl.penie 01 ta.ltt :l.n~, a(-"lion ~('rnmdt"t 3, 11llpKt1..., Lend<< Olay make or cause to be made teasonable en!lies upon and inspections of the Property, provided that Lender shall il",-e Borrow" notl~ prior to !lny such inspection s-ptCifyina re-a..sonable came therefor related to Lender's interest in the Property. 9, ('ondt-llleatloa~ The pl'oceeU~ of any award or daim for damag~, dir(\,'t or t:onsequemiaJ, in conne<.~lion with a.n)' cond.emnation 01 o~hcr ta'lU8 of lOe Pft)perty, or part thereof. Of fOT i..'-oo""t'yallce in lieu of condemnation, art he-re-by a$.\igned and sha.1I be paid to Lenda. fn tht evrnt of a ~otal tai.mg of the PtQPC'rty. the proceeds !'Jhall be applied H.\ the sums !e('ured by thiS tJ.c.o.ed of Trust, with {he- exrt-s~, it any. f~J 10 norf'0...er_ in {he t"vc-nt of a panial fakif\1l of lh~ ;)roperty. unl('~ BotrQw-cr ar..d L~nder other"A'l~C agree m WfllHl$., it1erc ;eha!l b-;:- ilppliC't.t :\] ih{" "~un;,, .~'UH.J h) th~1i I~I of lru\t \;lJ-(;l) prnporllml 'If the pH)l'::e~-d.. !!5 ;1- equal that prop,xii,m ","hid, the amount (}l :hc ~ua\" \t~:tlf("d