84006168 - Laserfiche WebLink

Browse

r 84 ----.,006168 applicable law requires ruch inlerestto 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 4lId debits to the Funds and the purpose for which each debit 10 the Funds was made, The Funds are pledged as additional security for the Slims secured by this Deed of Trust, If the amount of the Funds held by under, 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, assessmentst insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, eilher promptly repaid to Borrower or credited to Borrower on monthIy installments of Funds, If the amount of the Funds held by under shall not be sufficient to pay tax. 5, assessments, insurance premiums and ground rents as they fall dwo. Borrower shall pay to under 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 secured by this Deed of Trusl, Lender shall promplly refund to Borrower any Funds held by Lender, If under paragraph 18 hereof tbe 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 ,ecured by this Deed or Trust. ), ApplIcadoD of Payml!Dls, Unless applicable law provides other";se, all payments received by Lender under the No~e and paragraphs I and 2 hereof shall be applied by Lender tirst in payment of amounts payable 10 Lender by Borrower under paragraph 2 hereof, then to interest D~yabk vn tile Note, th~n to the principal of the NGi:~~ and then tv jlH~I-'C;st and p.rim.:ipai on any Future Advafit..u. 4. ehalll"; LIens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property whIch may altain a priority over this Deed of Trust, and leasehold payments or ground rents, if any, in the manner provided under paragraph 2 her..,; or, if not paid in such manner, by Borrow"r making paym"nt, when due, directly to the pay"" th"reof. Borrower shall promptly furnish eO Lender all notices of amoums due under this paragraph, and in the evem Borrower sha!! 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. [hat Borrower shall not be required to discharge any such Hen so long as Borrower shall agree in writing to the payment of the obligation secured by such Hen in a manner acceptabie [0 Lender. or shaii in good faith coniest such lien by, Of defend. enforcement of such lien in. legal proceedings which operate to prevent the enforcement of the Hen or fo..feiture of the Property or any part thereof. 5, Haurd 11ISD1'1UlCI!. Borrower shall keep the improvements now e'l',!' ...-, ,,,,eafter erect..... >n the Property insured against loss by fire; hazards included within the term "extended coverage". and :;,u<::h mh:H ~ 1.1,::.i...);u Ler.-~a reay require and in such amounts L'1d for such periods as Lender may require; provided, that Lender shall nm ,<qUlre that Ul< amollnt of such coverage exceed that amount of coverage required to pay. [he sums secured by this D=I of Trust, The In.,urance camer providing the insurance shall be chosen by Borrower subject to approval by Lender: provided, that such approval shaH not be unreasonably withheld. AH premiwns on insurance poiicies shaH be paid in the manner provided uilder paragraph 2 h~f or,; ifnot paid in such manner. by Borrower mak.ing payment, when due. directly to the insurance carrier. AtI insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage clause ill favor of and in form acceptable to Lender. Lender shall have the right to hold tne policies and renewals thereof, and Borrowet shall promptly furnish to Lender all renewal notices and all receip15 of paid premiums. In the event of loss. Borrower shall give prompt notice 10 the insurance carrier and Lendc-r. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agr"" m writing, insurance proceeds shall be applied to restorallon Ot repair of the Property damaged, provided such restoration or repair is economically feasible and the security of this Deed of Trust is not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Deed of Trust would be impaired, the insurance proceeds shaii - be applied to the sums secured by this D=I or Trust, with the excess, if any, paid to Borrower. If the Property is abandoned by Borrower, or if llorrower fails to respond to Lender witbin 30 days rrom the date notIce is mailed by under to Borrower that the insurance carrier offers to seule a claim for insurance benefi15, Lender is authorized to cotleet and apply the tnsurance proceeds at Lender's option eith"r to restoration or repair of the Property or to the sums secured by tlris D=I of Trust. Unless Lender and Borrower otherwise we<: in writing. allY such application of proceeds to principal shaIJ no~ ....tend or postpone the due dale of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of such iru.1allments, If under paragraph Ig hereof the Property is acquired by Lender. all right, title and inter..t of Borrower in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property pltor to the sa.le 0' acquisition shall PlW to Lender to the extent of the sums secured by this Deed of Trust immediately prior to .uch sa.le or acqw.ttion, 6, ~do..... Mala_ of Property; ~; CoDdDDlill/u..... Pllllllled VII/t Dnel........la. Borrower shall keep the Property in good repair and shall not commit wast<- or permit lmpairment or deterioration of the Property and shall comply with the provisions or any lease if Ibis Deed of Trusl is on a leasehold, If this Deed of Trust is on a unit in a condominium or a planned unit development, Borrower ,hail perform all o( Borrower's obligations under the declllJ"ation or covenants creating or governing the condominium or platlDed unit developmem, the by-laws and regulations of the condominium or planned unit development. and constituent documents, If a condominium or planned unit development rider is uecuted by Borrower and recorded together with this Deed of Trust, the covenants and agreements of such rider shall be mcocporllled inlO and shall amend and supplem"nt the covenants and agreements of thIs Deed of Trust as if the rider were a part hereof. 7. P....ledio. of u......'. SK1aril)'. If Borrower fails to perform the covenants and agreements contained in Ibis Deed of Trust, Or if any aCllon or proceeding IS commen~-ed which materially affects Lender's ,"terest in the Property, including, but not limited to, emioer1t domain, inMIlvency. code enforc<:ment, or arrangemems or pnx..eedings illvolving a bankrupt or decedent, then Lender at Lender's option, upon notice to 8orro~"C"r. may make such appear-a.n-ces. disburs.e such sums and take such It(,.'1:ion as is necessary 10 protect Lender's. inte~t-. inch.tdi!!$.. but not lim.ited to, disby.r~en! oJ reasonable attorney's fees &n(! entry upon the Property to make f.;pairs. If Lender required mortgag~ insurance as a condition of lflllking the loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain such insurance in effect unul such time as the requirement for such msurance tet'minates in accordance with Borrower's and Lender's written agreement or applicable la..., Borro...r shall pay tbe amoWlt of all mort_ insurance premium. in the manner provided under paragraph 2 hereof. Any ~unu disbu:rsed by Lender pursuant to this parqruph 7, with inietesl, thereon. shall be\:ome additional ind~btedness of 8orrower <K-.:ured by this Deed of Trust. Urnes. BorroW<:r and Lender agree to other terms of payment. such amounts shall be payable upon notice from (<,odef h' !lorrower t"'luestlng paymentlhereof, and shall bear mlerest from the date of disbursement at the rate payable from time to time on nut:st1indtng t>rin<;lpai WIder the Note unl_ paymenl of interesl at such rote ...mlld be ,ontrary ro applicable law, in wbid, <vent 'uch amounts .hall bem IlllCtelit at Ihr ~ rate permissibl~ under o.pplicable law. Nollullg contained in 'h,. paragraph i ,hall require Lender to incur o.ny "pet...., or r:ake any ""1100 her~. 8, I~. Lender may make or cause !O be made reasonable eotTles Upoll and 'nspe~tions of the Property, p,ovlded that Lender shall ~jve- Bou-(',*a: notk.-e prior to any such lDlpection s~fyin8- TtilW>nabk Cftme tnef"!'f(.)f related to Lender's interest in the Property. ~. COtJdaB.....The: ptoc-oeds of any award ():f ej.aim- for damqt:s, dtrccl or cons-<<4utntlaL in connCC'llon with any t:ondemnation or Ot!~f lakJni of tM Property, or piClrt thU,tof. or for coov~aI\Ce in heu of ;;:ondemnation, ~lre hereby asslgncd and shall be paId to Lender. h1 the t\~ll .of a UJU.ttaJu_1l8 of tbt '")r~}peflY. Uk p'-f'~is,'ihQ.U be apph-c-d ~o t~ ~m:n;l :w:~'Uroo by this [}.ced \,)f Trusl. '<,'iJlh the exCMS. if any, r~tJ to lto:moilr(;t. !n t~ e'\'cnI -01 I paniaJ utkm.. of the Property. unle,ss ~)ni)1.\'et ami L,(ntter mrw.fW)sC' dfU-ee in wr.tmt, ~ht';"H~ ~haH be ap-plkd f~ -ttttn~ ~w't!'d b-y lhfJi {)ecd of Trt!.\t loc-b ptOP!()ft-h.Hl of tt1C' Pf~.ll..:etI\:h a,'i ~.\nl-1Jl!o r!tift prOp")nHln, wrw;__h the IiftH.HHl\ \he l,umS ~~'un.d