39-41 Disannexation (2) - Laserfiche WebLink

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L? 1-z V(:):t_ F=' -3 12 3 7 iD R 142i_1 262 equipment, water heaters, radiator covers, and all plumbing, heating, lighting cooking, ventilating, cooling, air- conditioning and refrigerating apparatus and equipment, and such goods and chattels and personal property as are ever furnished by landlords in letting or operating an unfurnished building, or which are or shall be attached to said building by nails, screws, bolts, pipe connections, masonry or in other manner, and all additions thereto and replacements thereof, and such built-in equipment as shown by plans and specifications, are and shall be deemed to be fixtures and accessions to the Mortgaged Premises, being hereby agreed to be immovables and a part of the realty as between the parties hereto, and shall be deemed to be a part and portion of the Mortgaged Premises. (c) That Grantors will pay (prior to delinquency) all taxes and assessments levied or assessed upon the Mortgaged Premises, or the interest created therein by this Deed of Trust, and exhibit the receipts therefor to the Noteholder (unless such payments are made by the Noteholder, as hereinafter provided), and will defend the title and possession of the Mortgaged Premises to the end that this Deed of Trust shall be and remain a first lien on the Mortgaged Premises until the debt i5 paid. That Grantors will pay all attorney's fees and expenses which may be incurred by the Noteholder in enforcing the terms of the Note and this Deed of Trust or in any suit which the Noteholder may become a party where this Deed of Trust or the Mortgaged Premises is in any manner involved, and all expenses incurred in presenting a claim against the estate of a decedent or a bankrupt. The word "assessments" as used in this Deed of Trust, whether in this paragraph or elsewhere, shall include not only assessments by political subdivision, but also maintenance charges, reeular assessments and special assessments assessed by subdivision restrictions, homeowner's declarations for planned unit developments and assessments by condominium agreements, if any. (d) That Grantors will keep all insurable Mortgaged Premises insured for the protection of the Noteholder against loss by fire, hazards included within the terms "extended coverage" and such other hazards as Noteholder may require in such manner in such amounts, and in such companies as the Noteholder may approve, and keep the policies therefor, properly endorsed, on deposit with the Noteholder. If renewal policies are not delivered to the Noteholder 30 days before the expiration ofthe existing policy or policies, with evidence ofpremiums paid, the Noteholder may, but is not obligated to, obtain the required insurance on behalf of Grantors (or insurance in favor of the Noteholdet alone) and pay the premiums thereon. Grantors assign to Noteholder all right and interest in all such policies of insurance and authorize the Noteholder to collect for, adjust or compromise any losses under any insurance policy on the Mortgaged Premises, and loss proceeds (less expense of collection)shall, at the Noteholder's option, be applied on the debt, whether due or not, or to the restoration of the Mortgaged Premises, or be released to Grantors, but such application or release shall not cure or waive any default. (e) That, when requested by the Noteholder, Grantors will pay with and in addition to the monthly payments of principal and interest payable under the terms of the Note, on the same day as the principal and interest installments are due and payable, a sum equal to one-twelfth ofthe estimated annual ground rents, taxes, hazard insurance premiums, flood insurance premiums, mortgage insurance premiums, and assessments. If there is default under any of the provisions of this Deed of Trust resu(ting in a sale of the Mortgaged Premises or foreclosure, or if the Noteholder acquires the Mortgaged Premises otherwise after default, the Noteholder shall apply at the time of commencement of such proceedings or at the time the property is otherwise acquired, the balance then remaining ofthe funds accumulated under this provision as a credit against the amount then remaining unpaid under the Note. No interest shall accrue or be allowed on any payments made under the provisions of this paragraph. All deposits made pursuant to this paragraph shall be held by the Noteholder as additional security for the payment of the debt described herein and shall not be assigned, attached or otherwise alienated except when transferred by Grantors to a new owner of the Mortgaged Premises concurrently with a bona fide sale of the Mortgaged Premises. Noteholder or its designee may, at any time, collect and hold Funds in an amount not to exceed the maximum amount a lender for a federally related mortgage loan may require for Grantor's escrow account under the federal Real Estate Settlement Procedures Act of 1974 as amended from time to time, 12 U.S.C. Section 2601 et seq. (RESPA), unless another law that applies to the Funds sets a lesser amount. If so, Noteholder or its designee may, at any time, collect and hold Funds in an amount not to exceed the lesser amount. Noteholder or its designee may estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of the items hereinbefore cited or otherwise in accordance with applicable law. ( fl 1'hat Grantors will not commit or permit any waste on the Mortgaged Premises and will keep the buildings, fences and all other improvements now or hereafter erected on the Mortgaged P remises in sound condition and in good repair and will neither do nor permit to be done anything to the Mortgaged Premises that may impair the value thereof and the Noteholder shall have the right of entry upon the Mortgaged Premises at all reasonable times for the purpose of inspecting the same. 3 M U01?~~~