My WebLink
|
Help
|
About
|
Sign Out
Browse
201002498
LFImages
>
Deeds
>
Deeds By Year
>
2010
>
201002498
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
4/15/2010 2:25:00 PM
Creation date
4/15/2010 2:23:04 PM
Metadata
Fields
Template:
DEEDS
Inst Number
201002498
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
36
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
201002498 <br />Beneficiary purchases insurance for the Premises, Grantor will be responsible far the <br />costs of such insurance, including, without limitation, interest and any other charges <br />which Beneficiary may impose in connection with the placement of the insurance, until <br />the effective date of the cancellation or expiration of the insurance. The costs of the <br />insurance may be added to the indebtedness secured hereby. The cost of the insurance <br />may be mare than the cost of insurance Grantor may be able to obtain an its own. <br />(b) Grantor shall not take out separate insurance concurrent in form or <br />contributing in the event of loss with that required to be maintained hereunder unless <br />Beneficiary is included thereon as the lass payee or an additional insured as applicable, <br />under a standard mortgage clause acceptable to Beneficiary and such separate <br />insurance is otherwise acceptable to Beneficiary. <br />(c) In the event of loss, Grantor shall give immediate notice thereof to <br />Beneficiary, who shall have the sole and absolute right to make proof of loss, and each <br />insurance company concerned is hereby authorized and directed to make payment for <br />such lass directly to Beneficiary (rather than to Grantor and Beneficiary jointly). <br />Beneficiary shall have the right, at its option and in its sole discretion, to apply any <br />insurance proceeds so received after the payment of all of Beneficiary's expenses, <br />either (i) an account of the unpaid principal balance of the Note, irrespective of <br />whether such principal balance is then due and payable, whereupon Beneficiary may <br />declare the whale of the balance of indebtedness hereby secured to be due and payable, <br />or (ii) to the restoration or repair of the property damaged as provided in paragraph 24 <br />hereof. If insurance proceeds are delivered to Grantor by Beneficiary as herein <br />provided, Grantor shall repair, restore or rebuild the damaged or destroyed portion of <br />the Premises sa that the condition and value of the Premises are substantially the same <br />as the condition and value of the Premises prior to being damaged or destroyed. In the <br />event of the application of such insurance proceeds to the cost of restoration and repair <br />of the Premises, any surplus which may remain out of said insurance proceeds after <br />payment of such casts shall be applied on account of the unpaid principal balance of <br />the Note, irrespective of whether such principal balance is then due and payable. In <br />the event of foreclosure of this Deed of Trust, all right, title and interest of Grantor in <br />and to any insurance policies then in force shall pass to the purchaser at the foreclosure <br />sale. At the request of Beneficiary, from time to time, Grantor shall furnish <br />Beneficiary, without cost to Beneficiary, evidence of the replacement value of the <br />Premises. <br />7. Condemnation. If all or any part of the Premises are damaged, taken or <br />acquired, either temporarily or permanently, in any condemnation proceeding, ar by exercise of <br />the right of eminent domain, the amount of any award ar other payment for such taking or <br />damages made in consideration thereof, to the extent of the full amount of the remaining unpaid <br />indebtedness secured by this Deed of Trust, is hereby assigned to Beneficiary, who is <br />empowered to collect and receive the same and to give proper receipts therefor in the name of <br />Grantor and the same shall be paid forthwith to Beneficiary. Such award or monies shall be <br />applied on account of the unpaid principal balance of the Note, irrespective of whether such <br />principal balance is then due and payable and, at any time from and after the taking Beneficiary <br />may declare the whole of the balance of the indebtedness hereby secured to be due and payable. <br />7 <br />
The URL can be used to link to this page
Your browser does not support the video tag.