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Home My WebLink About0002 3. Pnor hlortgagesand Deeds oi Trusl Charges; l~ens. Burrower shali perlprm all uf Borrower s obhgat~ors under any rnortgage. deecl of tr~~st or oth~ ~ u~,!y agreeme~t w~th a ~~en wh~ch has pr~uniy aver th~s Mortgaye. ~rclud~ng Bunower's covenants to make payments when due Borrowe~ shall pa: ~r cause to oe pa~d au taxes. assessrnents and other ct~arges. t~nas and ~mposrt~ons attnbutabie to the property which may atta~n pr,onty ~ver th~, Mor.gaye, and leasehold payments or ground rents, if any by Borrowei makmg payment when due direcUy to ttie person owed payment Borrower snall tlel;:er to thelend2r upun iis request rece~pts ev~denc~ng such paymem Borrower shall promptly discharge any I~en thathas pnonty over th~s rnortyage. prov~ded that B~~rrower sha11 not be requued to d~scharge any such I~en so long as Borrower shall agree ~n wr~t+ng lu the payment of the ubl~gat~on secured by such I~en ~n a manner acceptable to ~ender, or shall ~n good ta~th contest such ilen by, or defend entorcement of such l~en ;n. iegal proceecl~ngs that operate to prevent the enforcement of the I~en or forte~ture ot tne Property or any part thereo! 4. Hazard Insurence. Boirower shall keep the ~mprovements r.ow ex~st~ng or hereafter erected on the Property ~nsured aga+r,st loss by t,re hazards ~~~ClUded Wl~hln Th~ ~P~(Il ~~PY}Pl1l1o111'/1vPr~jn~~ ~r+~ ~~ti~- ~u~.l~ vo ~V~ w~~;..~~ ~Cnuei reyuires msurance. 1 his insurance shall be mainta~ned ~n the amounts and for the per~ods that ~ender reqwres The msurance carner prov~d~ng the ~nsurance shall be chosen by the Borrower sub~ect to Lender's ~~pprovai wn~ch shali not be unreasonably w~thheld Ail ~nsurance pot~aes and renewals must be acceptabte to Lender and shall ~nctude a standard mortgagee clause lender shail have the nght to hold the pol~c~es and renewats. sub~ect to the terms of any mortgage, deedof trust or other secur~ty agreement with a I~en wh~ch has pnonty over th~s Secur~ty Instrument li Lender requires Borrower shall promptly gwe to Lender all receiptsof paid premiums and renewal notices. In theevent ot loss. Bonower shall g~ve prompt not~ce to the ~nsurance carner and Lender Lender may make proof ot Ioss rf not made promptly by Borrower Sub~ect to the r~ghts an0 terms of any mortgage, deed of trusi or other security agreement which has pr~ority over this Security Instrument, ~nsurarce proceeds shau be appf~ed to restorat~on or repa+r of the Property damage. if the restoration or repa~r ~s econom~cally feasibleand Lender's secunty ~s not lesscne~ If the restorat~on or repa~r ~s not e~onomicaily feasible 0~ Lender'ssecurity wou{d be lessened, the insurance proceeds shall be appl~ed to the sums secured by th~s Secuniy Instrument, whether or not due. with any excess pa~d to Borrower. If Borrower abando~s the Property, or does not answer w~th~n 30 days of not~ce from lender that the ~nsurance car~~er has offere~!o settle a cla~m, then Lender may collect ihe ~nsurance proceeds Lerder may use the proceeds to repa~~ or restore the Property or topay sums secured by this Secunty Instrument, whether or not then due. The 30-day period will begin when the noGce is given Unless Lender and Borrower otherw~se agree ~n wnting, any application or proceeds to pnncipal shall not extend or postpone the due date ot the monthly payments reter~ed to ~n paragraph 1 or change the amount of the payments If under paragraph 19 the Property ~s acqu~red by Lender. Borrower"s r~ght to any insurance pol~aes and proceeds resuiting from damage to the P?operty pnor to the acquisit~on shall pass to Lender to the extent of the sums secured by th~s Secu~~ty Instrume,~t ~mmed~atety prior to the acquisit~on S. Preservation and Meintenance ot Property;Leas~hofd; Condominiums; Planned llnil Derelopments. Borrower shall keep the Property ~n good repair and shall not comm~t waste or permit ~mpa~rment or deter~orat~on of the ProQerty and shall compfy wifh the provlsions of any lease it th~s Security Instrument ~s on a leasehold if this Secunty Instrument ~s on a unit ~n a condom~nium or planned un~t devetopment, Borrower shal4 perfa:m atl of Borrower s obligat~ons under the declaraUon or covenants creating or govern~ng the condominlum or pianned unit development, the by-laws and reguiaUons of the condom~nlum or plan~ed unrt devetopment, and con~t~tuent documents. 6 Protection oi Lender's Security. !f Borrower fa~ls to perform the covenants and agreements contained in this Security Instrument, or if any action or proceedmg ~s commenced wh~ch mater~al!y 2ffects Lender's mterest ~n the Property, then Lender, at lender's opLon, upon notice to Borrower, may make such appearances, d~sburse such sums. ~ncluding reasor.abie attoneys' fees, and takesuch action as is necessary to protect Lender's+nterest If Lender requ~red mortgage ~nsurance as a cond~tion of mahing the loan secured by this Secunty InsVument, BOrrower shall pay the premiums requ~red to ma~n2am such ~nsurance m ettect unt,{ such t~me as the requ~rement ior such insurance termmates in accordance with Borrower's and ~ender s wntten agreement or appl~cable law Any amount d~sbursed by Lender pursuant to this paragraph 6, w~th ~nterest therson, at the Note rate, shall become additional indebtedness af Bo!rower secured by th~s Secur~ty Insirument Unless Borrower and Lender agree to other terms of payment, such amounts shal! be payab~e upon not~ce trom LendertoBorrower request~ng payment thereof Nothing contalned ~n th~s paragraph 6 shall requ~re Lender to incur any expenses or take any act~on hereunder. 7 Inspection. Lender or ~ts agent rnay make reasonabie entnes upon and ~nspechon of the Property, prov~ded that Lender shall g~ve Borrower not~ce f Gnor ?o an mspection specifyinG reasonable cause for the inspect~on 8 Condemnation. The proceeds of any award or cla~m for damages, d~rect or conseq~ent~al m connectlon w~th any condemnation orother tak~ng of the ~ Property, or part thereof, or for conveyance ~n I~eu ot condemnat~on, are hereby ass~gned and shall be paid to Lender. sub~ect to the terms of any ~ mortgage. deed of trust or other secunty agreement wrth a I~en wh~ch has pnority over th~s Secunty Instrument ~ 9 Borrower Not Released; Forbearance by Lender Not a Wairer. Extension of the time for payment, acceptance by Lender of payments other than € accordmg to the terms af the Note. or modification of amortizat~on oi the sums secured by this Security Instrument granted by Lender to any ! successor ~n ~nterest of Borrower shall not operate to release the I~ab~llty oi the original Borrower or Borrower's successors in Interest. Lender shall no! be requ~red to commence proceedings agalnst such successor ~n interest or ~efuse to extend the time for payment or otherw~se modify amort~zat~on of the sums secured by th~s Security Instrument by reason of any demand made by the original Borrower or Borrower's successors ~n ~ nterest Any forbearance by Lender in exerc~smg any nght or rernedy shall not be a wa~ver of er preclude the exercise of any nght or remedy. lender ; snafl not be deemed, by any act of omiss~on or comm~ss~on to have warved any of its rights or remediss hereunder unless such wa~ver is in wrrting and ~ s~gned by lender Any such wa~ver shall appiy only to the extent specif~cally set forth the wriUng. A waiver as to oneevent shaN not be construed as ~ cont~nu~ng or as a wawer as to any other event s ~ 10. Successor and Assigns Bound; ,toint and Sererol Liability; Co-Signer. The covenants and agreements of this Security Instrument shall b~nd and d benef~t the successors and assigns of lender and Borrower, sub~ect to the prov~sions of paragraph 18. Borrower's covenants an~1 anrPOr•,p~~~ ~h~~! i ~nintan~lco.,g.~~ n~..o,.._.....__ _ w„~ c~-s~yns itns 5ecuncy inssrument but does not exeCU~e the Note: (a) isco-s~gning thfs Secunty Instrument onlyto E mortgage. grant and Convey that Borrower s ~nterest in iheProperty underthe terms of th~s SeCUr+ty tnstrument; (b) is not personafiy obtigated to pay ~ ±he sums secured by thls Secunty lnstrument: ar.d (c; agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any 5 acCOmmodat~ons w~th ~egard to the terms of th~s Secunty Instrumeni or the Note without that Borrower's Consent. ~ ~ ~ 1. Loan Charges. It the loan secured by th.s Secunty Instrume~t is sub~ect to a law which sets ?naximum loan charges, and that law ~s fi~ally ~nterpreted so tnat the ~nteres? or other loan charges cotlected or to be collected m connection wlth the loan exceed the permitted limits, th~n (a? any such loan ~ charge shali be reduced by the amour.t necessary to reduce the charge to the permitted l~mit, and {b} any sums already coilected from Borrower which ~ exceeded perm~tted lim~ts will be refunded to Borrower. Lender may choose tomake this refund by reducing the principal owed under the Note or by s maR+ng a d~rect payment to Borrower lf a refund reduces princ~pal. the reduction will be treated as a partial prepayment wrthout any prepayment , cnarge under the Note t 2. Legislation Affecting Lender's R4ghts. lf enactmert or exp~rat~on of appl~cable laws has the effect of render~ng any rr~aterla! provi;ions of the Note or th~s Secur~ty lnstrument unenforceable accard~ng to its terms, lender. at its option, may requ~re~mmediale payment m full of all sums secured by this Secunty Instrument and may ~nvoke any remed~es pe+mltted by paragraph 19 If Lender exercises this option, Lender shall take the steQs SpeClSied in the second paragraph of paragraph t8 t 3. Notices. Any nohce to Borrawer prov~ded for ~n th~s Secur~ty Instrument shall be g~ven by delivenng It or by mait~ng it by first class ma~l u~less applicable law requ~res use of a~other meFhod The not~ce sha11 be d~rected to the Property Address or any other address Borrower designates by ~~ot~ce to ~ender Any not~ce to Lender shall Ge g~ven by flrst class ma~l to Lender's addtess stated herein or any other address Lender des~gnates by not~ce to Borrower Any not~ce provided for m m~s Secur~ty Instrument shall be deemed to have been given to 8orrower or Lender when g~ven as ~ prov~ded ~n th~s paragraph ~ i s r S ao~~ 675 ~~E OI~2 GF F15071d•B 6-88 Page 2 of S