84006008 - Laserfiche WebLink

Browse

I 84 -006008 UNIFORM COVENANTS. Borrower and Lender cOVenant and agree as follows: .1. P.yment of Princlp81 ami Interest. Borrower shall promptly pay when due the principal of and interest on the IOdehtedness evidenced by the Note, prepayment and late charges all provided in the Note, and the principal of and interest on any Future Advances secured by this Deed of Trust. 2. Fands for T_ ud Insunmee. Subject to applicable law or to a wrilten waiver by Lender, Borrower shall pay to Lender on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full, a surfl (hen;in "Puncb''', equal to uoe-tweffth of the yearly taxes and assessments which may attain priority over this Deed Df Trust, anti ground rents on the Property, if any. plus one-twelfth of yeady prtillium installments f(ir hazard insurano:. p:Uii vne twelfth 0-f y~~rly premium installments for mortgage in:mrance, if any, all as nasonably estimated initiaily and from time to time by Lender on the basis of assessments and biU~ iind rc:::c~a~e .erlimates thereof. The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by G Fede!a! -gr state agency (including Lender if Lender is such an instilution). Lender shan apply the Funds to pay said taxes,assessments, in...ram;" premiums a..'ld ground rents. Lender may nOI charge for so holding and applying the Funds, analyzing said a;:count or verifying and compiling saId assessments and hili., unless Lemler pays Barrower 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 e.xtcutiO:" of' t.lJis ~~~ ~~~s~;~~l:~f:i ~iJh~~~~~h~!!i~;t:~~~~i~O~~O:~f:&~~~~~e~;~~~:~e::'~~~:~;~~: F:X~~~ shall give to Borrower. without charge, an annual accounting of the Funds showing t.:~it; and rleh!!s 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 se<:wed by this Deed of Trust, If the amount of the Funds held by Lender, together with the future monthly inslallmems of Funds payable prior to the due dates of taxes, 8-...e..ments, 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 shan he, at Borrower's option, ei~ promptly repaid to Borrower or credited to llorrower 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 within 30 days from the date DQtic_e is' mailed by under to Borrower requesting payment thereof, Upon payment in full of all sums secured by this Deed of Tn. :nder shall promptly refund to B.."ITUwer "ny Funds held by Lender. If under paragraph 18 hereof the Prop"rty ,$ ",,1<1 " Property i. ~'~erwise acquked by Lender, Lender shaH apply. no later t,ha.,., im:r.ediatciy prk~r iO the s....ie of ii. j.' .~'i.~rty t its acqu~sttion by Lender. any Funds _held by Lender at the time of applicalion as 2 credit ari"". the stm" '"",,d by this Deed of Trust. J, AppIicaIlon of Paymenf5. Unless applicable law provides otherwise, all payments received byl.ender under the Note and paragraphs I and 2 hereof shall be applied by Lender first in payment of amounts payable to tender :'y Borrower under paragraph 2 hereof. then to interest payable on the Note, then to the principal of the Nole, and then to interest and orindpai on any Future Advances. . 4-. Charges; l~jens. Borrower shall pay aU taxes. asses.~ment.s and other charges. fines and impo-sitions auributable to rhe Propeny which may .rutin 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, direedy to the payee thereof. Borrower shall promp,ly furnish to Lender all notices of amounts due under this p~ragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Lender receiplS evidencing such payments, Borrower shall promptly discharjJe any lien which has p""rity over Ihis Deed of Trust; provided, that Borrower shall not be reqUIred to dis<:harge any such hen '0 long as Borrower shall agree in writing to the paymem of the obligation secured by ~uch licn in a manfJer acceptable Ie Lender, (1r shaH in J;tooa faith COntest such lien by. or defend enforcement of such lien in. iegaJ frc.ceeding5. \\hich operate to prevent the cnfo~cement of the hen of forfdwre of Lh~ Property or any part the~f. ~., Huard Insnnmce.. ~orrower shall keep rhe Improvements now existing Oi hereafter erected on the Property insured against loss by fire, h:!Z.3rds bduded within the term "extended coverage". and such other hazards as Lender may require ,:nd m such amounts and for such penods a' l.ender may require; provided, that Lender shall not require that the amount of "Hen coverage exceed that amount of coverage reqUired to pay the sums secured by this Deed of Tnlst. The insurance carrier proViding !he insurance shall he chosen by Borrower subject to approvai by Lender~ provided_ that such approvai shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due. directly to the Insurance camer" AU insurance policies and n:ncwah the reo! ~ha!! be III form a;..:ccptable to Lender and shall include a standard mortgage clause in favor of and in form acc.cptable to Lender. Lender $~aH have the righI to hold ,he policies and renewals thereof. .:lnd Borrower shaH promptly f urnrsh to Lender all renewal notices and an rc'efpls of paid premiums. In the event of Joss. Borrower shaH give prompt notice to the msurancc carner and lender. Lender may make proof of loss if not made promptly b,' Borrower. - Unless Lender aud Borrower otherwise agree 111 writing, msurance pn..xeeds shaH be applied to restoration or repair of the Property damaged. provtded suc-h restoration or repatr is c::onomicaliy feasible and the security of this Deed of Trust is not thereby impaired. If s.uch fe:storauon or rcpal!' is nOf economicaiiy feasible or if the security of this Deed of Trmu U:'~2!d he Impafred. the insuran-ce proceeds shaH be apphed to the sums SeClJft,.q by ~h~ D~~d '.If Trust. with the e.xce..,s. if any. paid to Borr('t\-...,~r. If the Pro~r-r; !~. ~h~;;diJflct.i by Borrower. or if Borrower fails to respond to Lender within 30 days from the Jate nO!Ke l~ mailed bv Lender to Borrower that the insurance ..:arner offers 10 settle a claim for insurance benefits. Lender is au:hOfll.ed to coH~f,~i and apply the insurance proceedll at Lender's option either to restoration or repair of the Property I.H tl..1 (he sums secured bv thIS Deed of Trust. t :nless Lender and Borrower otherwise agree U1 wntmg, any ~uch application of proceeds to prjncipai shaH not extend or posq:xme the due i.latf of the monthly knstailments referred to in paragraphs t and 2 hereof or change the cmount of such installments If under I'"agraph I K hereot the l'r<>perty " acquired by Lender, all right, title and interest of Borrower in and to any insurance pohcies. and ill and TO the proceeds thereof resulting from damage to the Property prior to the ~:::~c ~")r aC.-4ulsIUOn snail p:tss 10 L~u-dt;r tc :.he e)\!~!H i).f the sums secured by this Deed.of Trust Immediately prior to such sale or acqUIsition. 6. Pruenation and !\falnten"""e or Properly: Leasehotds: Condominiums; Planned Unit Developments. Borrower "hall ileep the Property 10 good n:palr ant.! ~hall nor r.:'ommlt \\a'Slt: or permit impairment or deterionui{ln of the Property ."ino shall comp-iy with the prOViS-WfiS of any }ease if this Deed of Trust l~ on 11 leasehold. If this IA.~ of Trust is on a unit in a c{mdominium or a planned unit development. Borrowef shall pe:c.for-m all of Borrower"s obligations. under the declaration Pi covenants creating or governing the c-ondornin!!.'m or planned unit development. the by~laws and regulations of the ,:oodormnium or planned unit development. and constl.tuent do~uments._ If a condominium or planned unit development nder IS f.:xet.::ut.ed by Borrower and recorded lLlgc!:her Wlih thl~ Deed of r rust, the covena~ts and agree.menls of ,such rider ..hail b€ IOc-orporated mto ilnd shaH amt'nd and supplemem the co\'cnant~ anJ agreements ot this Deed oi Trust ;:;~ If the rider were a part hereoL 7. Protediott oi I.f!'Dders Security. If Burrower b.ih to r'..:,rf~'"lml the covenants and agreements cnnta!nc,d in this: Deed. of Trusl. or If any action .or pn,1Ct."t.--dmg _1$ c,--'mme-nccd 'A'hich m;;l_(~naily affects Lender's interest (n the Properly. mchKilOg. but not h.m.uw to, emloent domalO. lilSOtVCncy. "':lxie enforcement, nr arrangements or prOCeedHig5 involving a hankrupt: or decedent. then Lender at Lender's option, u,x:>n notkx~ rn Borft)wcr. may make such appearance..<.;. dlshursc ~ul.~h ')llntS anu takt: such actJon as l~ necCS-.'\ary i~) protec!, Lender\' interest. mciuding. hut nOt limited to, disbursement of re~~n~b-je attorn~y's- fees and entry upon .the Property Ip rHJke rcp<:UfS If Lender reqUired mor.fgage In<;urancc JS a cOlw:lJtJon ~}f makmg th,c loan fit;CUred by thIS Deed of_ Trus.r, Borrower ~han pa\' the ~remlUrn'S reqUIred to. H1alOt~ln ~u('h ,n~urance Ul effect until such lime as the requuemem for sUl,.:n Hl~ur-~nCf.' (ermlll;11es -In :h.;cordllnce wJlh Bprrl,wer'-s ;illd LeJ'lder's wriuen agreement or applicable law ;l(\ffOWei shaH ray rhe amollnt of an HltJrtgagc Hl'l.Umnce pn:::nHums in th(.~ ,nannet provided under paragraph 2 hereof An)' A_mounts d~s.hursed by J eader -punu,ml to thl$ paragraph 7, WIth 1l11CTc-s.r ther;:oll. shall 1~(:ol11e ;ldJitIlHla! jnd-cb-toon-es., of gonowt_r secured ~)' ttHS Deed ot Tnt'lj[ t ~n!es~ Borrower and l.ende-r ~lgr~ h) Nhcr term:,> of pa\'rnc-nl" :'.lH.:h .lmounts ~dtaH be: payable upll-n notice from Lender 10 B-on-ower reque:-.ling pflvnwnl lherenf. ;md :;.hal! ht'M IOtere'it tt.lHI1 the d.ste of diJburxrn-ent at the rate pi\yab-k: 1ro-m time to time ott nutstandmg fit Hlclp~\l under l}W NNC unle~'1 payment (,r HHt'TCSI ill !tt)d~ ,fat~ W(~.t!d oc co-nt.rary h1 appil{':abll~ law, in ',4-hH:h e....en! ....t:i..:_h arm'\lllh \h;l11 h~~ar Hlterc>;.t ;-Jt lhr hlllnt'""sl rarc petrruu-lble- unde.t 3rf'ht'1!hh~ !~,w. ~o-thwg t:_onr.illn~j In llwi. p<.H.-ai,{f'aph !' "h;~n H.~\.anrc i.t'nde-t II' lIldH :Ul)- t:'\pcnse or take <tny a..:'tton hent!.-und<<-. .. ,~ LenGef may rnak.c ur C\J,U'li1l: h' h.(' In;;;.de: rea.),'')l1-_;l,hie e'ntne", Hp..~n .ltj..J !fl\pt'c!w'n'i t)f lhc Pr:.\p'('n~ fh<'l~ tg-rukf ~U grve BOf:/"o-w'tr f"'~!I.:_<: pfl\lf tL, ail)' ..u~h itj!>I')C>..;hf'n 'it~XJf).lD!l H.."a~.dluhlt. (:;~u""e dWll,.'!tH ,{'hIed },,\ i,'nJf'!" em erQ~ tn dle Pr01lett \' ) ~ ,;