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Home My WebLink About0532 3 Pnor Mortga9esand Deeds ol Trust Cha?yes; Liens. Borruwar shati perfurm all ot Borruwer's obl~yat~ons under any mortgage deea ot trust or utr~er ~r~i,r:ty ag~eernen! wfiti alean w~~Ch h8S p~~ur~ty uver th~s Mortga9e, ~ncluding Eorrower scovenants to makepayments when due Borruwer slialt Na; cau~e tu be pa;d ali tazes assessme~us and otnar cl+arges t~nes and ~mpos~t~ans altnbutable to the property wh~ch may atta~n pr~unty uver th;, Murtgage and teasehold p4yments or yrounq rents. ~1 any by Borrower mah~ng payment whe~ due duectty to the person owed payment Sorrowe~ snall Ui~i~var tu IheLendei, upon ~t5 reyuest ~ece~pts ev~denc~ng such payment Borrowe~ shall promptly d~scharge any I~en that has pr~onty over ih~s n,ortgage. prov~ded ihat Borrower shall not be reqwred tu d~scharge any such hen so long as Borrower shaU agree ~n writ~ng to the payment ul the ut~I~gai~or secured by sucn lian in a manner acceptable to lender. or shall +n good Saith COntest Such lien by, o? defend entorCement of such lien m, iegai pruceea~nys that aperate to prevent the enlorcement ot the I~en or torfe~lure ot the Property or any part thereot 4 Hazard Insurance. Borrower shall ?ceep the ~mprovements now ex~shng or hereafter erectad on the Property ~nsured aga~nst toss by t~re ha2ards ~ncludetl ~~th~n Ihe term extended coverage and any other hazards for wh~ch Lender reqwres insurance This insurance Shall be mainta~ned ~n the arnount~ and ~or the penods tnat Lender requ~res The ~nsurance carr,er p?ov~ding the ~nsurance shall be chosen by the Borrower sub~ect to Lender's approvai wh~ch shall not be unreasonably w~thhetd Ali ~nsurance pol~aes and renewals must be acceptable to Lender and shatl mclude a standard mortgagee clause Lender shall have the nght to notd the pol~c~es and renewais. suD~ect to the terms o( any mortgage, deed of trust or other secuniy agreement w~th a I~en wh~ch haspr~ority over ih~s Secur~ty instrument II Lender requires Borrower shall prompUy g~ve to Lender all receipts of pa~d premwms and renewal not~ces In the even~ of loss. Burrower sha{t g~ve prompt not~ce to the ~nsurance carner and Lender. Lender may make proot of loss it not made promptly by Borrower S~b~ect to the nghts and terms of any mortgage, deed ot trust or other secunty agreement which has prionty over this Secunty Instrument, ~ nsurance proceeds sha~l be appfied to restoration or repa~r of the Property damage, rf the resioration or repalr is economicaily feasible and Lender's sacur+ty ~s not lessened if the restorat~on or repa~r ~s not econom~cally feas~ble or Le~der's secunty would be lessened, the ~nsurance proceeds shall c,e appl~ed to the sums secured by this Secunty InsVument, whether or not due, w~th any excess paid to Borrower. lf Borrower abandons lhe Property. or ~ues not answer wdhin 30 days oS not~ce from Lender that the insurance ca~ner has oflered to settle a cta~m, then Lender may collect the ~nsurance proceeds Lender may use the proceeds ro repau or restore the Propecty ~r topay sums secured by this Secunty tnstrument, whether or not then due The 30 day perwd wdl begm when the notice is g~ven Unless Lender and Borrower otherw~se agree ~n wnUng, any apphcationor proceeds to pnnCipal shall not extend or postpone the due date ot the month?y payments reierred to ~n paragraph 1 or change the amount of the payments It under paragraph 19 the Property is acqwred by Lender. Borrower s right to any ~nsurance pohaes and proceeds resulhng from damage to the Property pno? to the acqu~s~tion shall pass to Lender to the extent of the sums secured by this Secunty Instrument immediately pr~or to the acqws~6on. 5. Preservation and Maintenance of Property; Leasehold; Gundominiums; Plann~d Unit D~vtlopmfnts. Borrower shafl keep the Property in good repair and shall not commit wasie or perm~t ~mpa~rment or deter~oration oi the Property and shall comply with the provisions of any lease if this Security Inslrument ~s on a leasehold It this Secunty Instrument ~s on a unit in a Condomiroum or planned un~t development. Borrower shall perform all ot Borrower s ob~~gat~ons under the declarabon or covenants creahng or goveming the condom~nwm or planned un~t development, the by-laws and regulat~ons of the condomin;um or planned unrt development, and ca~stituent documents. 6 Protection of Lender's Security. If Borrower fa~ls to perform the covenartts and agreements conta~ned ~n thls Secunty Insirument, oi If any acilon or proceed~ng commenced which mater~aily atfects Lender s mterest in the Property, then Lender, at Lender's option, upon ~otice to 8o~rower, may make such appearances d+sburse such sums. ~nclud~ng reasonable attoneys' fees, and take such action as is necessary to protect Lender's ~nte?est. If ~ender requ~red mortgage ~nsurance as a cond~UOn ot mak~ng the loan secured by th~s Secunty Instrument. Borrower shall pay the premiums reqiiired to mainta~n such ~nsurance ~n effect unt~l such t~me as the requ~rement tor such ~nsurance term~nates tin accordance w~ih 8orrower's and ienders wntten agreement or appl~cable law Any amount d~sbursed by Lender purs~ant to th~s paragraph 6, wrth ~nterest thereon, at the Note rate, shall become addrtional fndebtedness of Borrower secured by th~s Secunty Instrument Unless Borrower and Lender agree to other terms ot payment, such amounts shall be payable upon n~~t~cefromlendertoBorrowerreguest+ngpaymentthereot Nothmgcontained+nthisparagraph6shailrequirelendertomcuranyexpensesortake any act~an nereunder ~ 7 Inspection. lender or ~Is agent may make reasonable entnes upon and ~nspect~on ot the Property, prov~ded that Lender shafi g~ve BorroNer not~ce ~ pr~or to an ~nspection spec~fy~ng reasonable cause for the ~nspect~on. ~ 8 Condemrsation. 7he proceeds oi any award or da~m tor damages, d~rect or consequenhal in connecGon with any condemnation orother tak~ng of the Property, or part thereof. or for conveyance ~n lieu of condemnation, are hereby assigned and shall be pa~d to Lender, sub~ect to the terms of any mortgage. deed of tsust or other secunty agresment w~th a t~en which has prionty over this Secunty Instrument. 5 Bor~ower No1 Rele~sed; Forbearsnce by Lender Not s W~irer. Extension of the t~me tor payment, acceptance by Lender of payments other than accord~ng to the terms ot the Note, or mod~hcat~on of amorUzatio~ of the sums secured by this Secunty fnstrument graMed by Lender to any successor ~n mterest of Borrower shall not operate to release the I~ab~hty of the orig~nal Borrower or Borrower's successors in interest. Lender shal! ~~vt be reqwred to commence proceedings against such successor in interest or refuse to extend the time for payment or otherwise modrfy amorUzat~on ot the sums secured by this Secunty Instrument by reason of any demand made by the onginal8orrower or Borrower's successors in ~ ~ nterest Any forbearance by Lender in exerasmg any right or remedy shall not be a waiver of or preciude Sheexerclse oi any riqht or remeAy. Lender snall not be daemed, by any act of om~ssion or commission. to have wawed any of its rights or remedies hereunder unless such waiver ~s in wnt+ng and s~gned by Lender Any suCh wa~ver shaU apply only to the extent specif~Cally set forth in the wnting. A waiver as to one event Shall not be Construed as cont~nu~ng or as a waiver as to any other event. 7 U. Successor a~d Assigns 8ound; Joint and Several Liabilitr; Co-Signer. The covenants and agreements of th~s Securfty Instrument shall b~nd and r.enef~t the successors and assigns ot Lender and Borrower, subject to the provisions ot paragraph 18. Borrower's covenants and agreements shali be ;o~ nt and severat Any Barower who co-signs this Secunty Instrument but dces not execute the Note: (a) is co-signing th~s Secu?ity Instrument only to ~ mortgage grant and convey that Borrower's mterest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay ~ !ne sums secured by this Securrty Instrument, and ~c} agrees that Lender and any other Borrower may agree to extend. modify, forbear or make any accommodahons with regard to the terms of this Secunty Inst?ument or the Note without that Borrower's consent. ~ t 1 Loan Charges. If the loan secured by th~s Securrty Instrument is sub~ect to a law whiCh sets maximum loan charges, and that {aw ~s finally ~nterpreted so that the mterest or other loan cha?ges collected or to be collected m connection with the loan exceed the permitted hmits, then: (a) any such toan a charge shalf be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected trom Borrower whlCh ~ ex;,eeded permitted limits will be retunded to Bor~ower. Lender may choose tomake this refund by reducing the pnncipal owed under the Note or by § mak~ng a d~rect payment to Borrower. Ii a refund reduces principal, the reduction will be treated as a partia4 prepayment without any prepaymeM charge under the Note t 2 Legi~lation AHecting Lender's Fiiyhts. If enactment or expiration of applicable laws has the effect of rendering any material provisions of the Note or tn~s Secunty Mstrument unenforceable according to its terms. Lender, at its option, may requireimmediate payment In fUll ot all sumssecured by this ~er unty Instrument and may ~nvoke any remedies perm+tted by paragraph 19 li Lender exercises this option, Lender shall take the steps spec~fied in tne second paragraph of paragraph 18. t 3. Nolicea. Any not~ce to Borrower prov~ded for in this Security Instrument shall be given by deliverirg ;t or by mailing it by first class mail unless a~pl~cable taw requ~res use of another method. The notice shall be d~rected to the Property Address or any other address Borrower desfgnates by not,ce to Lender Any notice to Lender shaN be g~ven by (~rst class mail to Lender's address stated herein or any other address Lender designates by ~ not~ce to Borrower Any not~ce provided fot in this Secu+~ty Insirument shaH be deemed to have been given to Borrower or Lender when grven as ~ prov~ded ~n th~s paragraph e ~ t ~ i r soo~ s~~ 53z GF F150)1~-6 8-8a Psge 2 ot 3 ~ ~ ~ _ . ~ ~ ~