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Home My WebLink About0035 , ~~r~~.~ ~ ~ iusured or guaranleeci by a Fecleral or ~tate uKenc~• ~i~?clu~liu~; I.~~n~ler ii L~•ii~ler i~ ;ucli i~n iustitutionl. T.ender shall apply the Funds to ~?ay stti~l tflxe~, u~ses.u~~nt•. insuruu~•~• ~~rrmimn~ un~l ~;n~un~i ~Y•nts. l.ender shall make no chArge for so holding and npplying the I~'und~ or ~•eriiyinK :?n~i com~iiliu~; ~~i~l u~~e~~uicnt~ and bills. Aorro~ver and l.cnder n~ay ugme in ~~~ritinR nt, the tiiue of ex~~~iition of thi~ ~lortKa~;e that intt•m.t on the Fumis .hal) i~c paid to 13orrower, and emless suel~ aRreement is nuide, (.~~nder ~hail IIOI IM IYl~llli'c1I ~O ~?R~~ Rorm~~•er anv intcrest on thr Funds. Lender shnll ~i~•e to Aorrower, ~~ithout eh:irE;e, an ~?nnunl ac~o~~nti~~~ ^f t?~~ F~~n~is sho~rin~ creclit~ ttnd debita to the Funds and thc pur~~ose for wl~ich cael~ dcbit to the Furids tvas madc. Thc F~inds nre pIM1~ec1 ns addi- tional security for the sums secureci by this \tort~age. If the amount oi the Funds i~~1d bv i.ender, toRethcr ~vitli tl~e fut~nr montl~h• instulhnents ot Funds ~)RVAbIC prior to the due dates oi taxes, assess?uents, insurunce premilm?s :»~d Kround rents, ~l~all exceecl the nmount re- q~iirecl to pay said taxes, nssessments, insurance ~~remiums und Krow~d tent.s as the~~ fAll duc, sucl~ excess shall be, at Aorrowcr's option, cither pmmptl~ repaid to Iiorro~~cr or rrcditcd to Borrowcr on ~nonthlv instnliments oi Funds. If the amount of the Funds held h~~ I,endcr shall not {x~ ~u~cicnt to ~~ay taixes, asses•ments, insurancc pre- miun~s and ground repts as they fall ~iue, Borrower shall ~~n~• to I.ender nny umount necessary to make up the deficiency ~vithin thirty days nftcr noticc from l.endcr to I3orm~~~cr requcstiu~ ~?nyment thercof. Upon pay~nent in full of nll sums secureci hy this ~Iortguge, I.en~ler shnil ~~romptly retund to Rorro~ver ~ny Funds held by I.ender. If under ~~nragraph 18 hcrcof thc YropeNy i. solci or t{ie Yropert~~ is othei~visc acryuireci i~y i.ender, I.ender shall appl,y, no It~ter tLan im~nedintcly ~uior to the ~ale of thc Yropcrt~• or its acquicition hy I.er~der, Hnv Fands held by I.ender nt the timc of applicatian as a creciit aRnin~t tl?c ~u~us secuir~i h~• tl?i~ \iort~a~;c. 3. Applicetion of Payments. Unle~s applici~bl~ li~~r pin~•ide~ athenvise, all pn~ments recei~~ed by I.ender under tLe Note nnd ~~nragrnphs 1 zu~d 2 hereof ~hi~ll 1?c .?p~~lic~l h~• L~m~ier first iu ~~a~~ment of i~~uounts ~~AYAVIC t0 I.ender by l3orro«~er under ~?ari~graph 'l hercof, then to intcrc•~t ~r.?~~nble on thc ?\otc an~l on Futiu•c: :1~i~•flnces, if any, and tl~en to tl~e princi~inl of the \Tote ~nd to th~ l~rincipal of Future A~i~•ancec, if :?n~~. 4. Charges; Liens. R~rmwer shail ~~~y nil taxe•, a~scssn~ents ,~n~l ot6cr charges, fines ~nd impositions :tttrib- utable to the Property ~vhich may attnin a priorit~~ over this ~4ortg:iRc. :~n~i ~roun~l rents, if uny, at I.ender's option in the rorinncr ~~rovided under pnragraph 'l hereof or I,y Rorm~~•er innkin~ ~~ayment, ~~~he~~ due, directly to the pAyee thereof. Borro~~~cr shall ~?romptlv furnisl~ to I.ender all noti~e~ of ~u~~ounts ~iue ~mder this paragraph, und in the event Borro~ver shall ~nnk~ pnv~uent directh•. Borro~~•er sh.?ll ~?rom~tl~• furui~fi to I.ender receipts evi- dencing such ~?nyments. Rorro~~er ~hall ~~romptly di~charge an}~ lien ~vhich has ~~rioritt~ o~~cr thi~ ~lortgaRe; pm- vided, that Borrower sht~i) not. hc requireci to discharRe an~~ ~u~h licn ~o long ac Rorm~~~er sl~all a~ree in writin~ to the pAyment of the obli~at.ion secureci by such licn in a~uanner :~c~c~~tablc to T.cndcr, or shall in ~ocx~ fAith contest such lien hV, or defend enforcement of ~uch lien in, leg.il ~~roceM!;»~~ ~4•~!?r~! 0~1CIY1tC i0 ~)PC~~ent. the enforcement of the lien or forfeitum oi the Yropertt~ or :~n~• ~?nrf thereof. ~ 5. Hazard Insurance. Borron•er ~l~nl) kec~? th~~ i~n~~ro~~cinent~ no~~- cxistin~ or lierenfter er~cted on the Prop- crty insiu•ed ngainst loss bv fire, l~nzards includeci ~vitliin the term "extended coverage", an~l sucl~ otLer liaznrds as ~ i.ender roaa requim and it~ such amounts and for such ~?erials a~ Lendcr ri~a~~ require; pmvided, thnt T.en~ier shall not require thnt thc nmount of such co~•crn~e cacecd tliat amonnt of ~•overn~e requireci to pay the sums secured by _ this ~Iortgage. The insura»cc carrier ~~rovidin~ thc ins?n•fluce shall l~~• CliOaeu 1?~• Borro~~•cr suhject to approvnl b~~ T.ender; ~?rovidccl, that. such approvnl shall not be unreasonabh• ~vithheld. All premiums on insurance policics shall be paid at l.ender's option in thc n~Am~cr ~~ro~•ideci un~ier ~?ara~~:i~?h 2 hei~eof or I,r Borro~~•er uwkin~ i?nyment., ~~hen due. 1 ; ~lirectly to the insurnnce cArrier. ; ; All insuranc•e ~~olicies and rene~~~ul~ tliereof ~hall Lc in for~n a~•~•cy~tahle to I.c~n~ler sn~l ~h~ll in~hidc a standaiYl ~ n~ort.gage clause in fnrm• of an~i in ionu acee~~tablc to I.cndcr. L~~n~1cr ~li~ll ha~•e thc ri~i~t to I~old the policies and ~ ~ reneH~nls thereof, and Borro«•er ~hall ~~rompth• firtnisli to I.rnder all rene~.•al notice~ and all recei~>ts of pai~l pre- ; ~niums. In the event of 1oss. I3orro~rer sh.ill gi~~e pro~n~~t uoticr to the insurance carrier and Lender, and I.ender ~ i m~y make s~roof of loss if not madc pron~ptlv 1~~• I3orro~~~cr. ~ Unless Lender and I3orro~rcr otlier~vise agme iu ~~•ritin~;, in~~n•.uice lrroceed~ ~hall 1?c ap~~lieci to restoration or ; ~ re~~air of tlie Yro~~ert}• ~lamaKe~i. ~~ro~-i~t~~~t sucli restoration or r~~~~air i~ ~~cono~ni~~all~~ fea•ilile znd the ~ecurit~• of ~ this ~[ortgage is uot therel~~ i~n~~aire<i. If sucli restoratiou or re~~air i~ not economicalh- fea~ible or if the security ' j of this Jiott~zge «•oul~i he impaireci, tl~e in~?u•anee procecds shall I~c a~~plied to the sums secure~l bv this \tortgage. _ «•ith the excess, if an,y, paid to I3orro~~~er. If the Yro~~ert~ i~ aL:?u~loned 1?~• Iiorro~ver or if Borrower fails to respond ~ to I.ender ~~•ithin 30 dati'~ atter notice b~• Leuder to Rorro~~•cr that the ins~n•.3n~e carrier offcr-s to settte a claim for i~~surance !?enefit~. I.ender is authorized to collect :~nd apph• th~~ in~in•:u~ce ~n•oreed~ at I.ender'~ option either to ~ restoration or repair of tl~e Yropert}~ or to thc sunis securecl b~- thi~ \[ortgage. ~ Unless I.euder and Borro~~~cr other~.•i~c agrec in ~~~ritin~. am~ ~url~ a~~plicatiou oti ~n•oceed. to ~~rinci~~al shall ~ uot extend or postpone the duc ~late of thc inontliit• installment~ refcrred [o in ~?aragraph~ 1 and 2 hereof or chan~e ~ the amount of sucl~ instAllments. ~ If under paragr~ph 18 hereof the• Yro~~crt~- i~ acquire~l 1?~- l.en~icr, all ri~ht, title an~l interest of Borro~ver in ~ ;inci to an~• instu•an~e ~wliciea arni in .~ml to the ~~rn~•ee~lc therc~of It~ tl?~~ cxtent of tiu~ ~um: •ecure~i h}~ this `'Iort- ' ~age inm~ediatel~ ~~rior to ~uch ~.al~~ or a~~qui~ition~ rc~ultiu~; frou~ ~laniagc~ to th~• i'ro~mrh• prior to the sale or ~ acquisition ~hall p~ss to J.ender. 6. Preservation and Maintenance oi Properiy; Leaseholds: Condominiums. Rorro~~-er ~hall keep thc Prop- crty in ~;ood repair arnl shall not ~~ennit or com~uit ~~-sste, in~~~air~nent, or ~letcriorztion oi tl?c Yropert~ :~nd shall com~~ly n•ith the ~~ro~~isions of .~n}• Ie;~se, if thi~ ~lori~age i; un le.tsel~ol~1. If thi~ ~[ort~age i~ on :i condominium ~ unit., Borm«-cr ~hall ~~erform ail ot 13orro~~~ci'~ ohli~atiotr ~in~i~•r the ~ie<•laration of con~lominiiuu or master deecf, thc hy-l:?~ti~s an~1 ngulationc of thc con~lon~iniun~ ~~r~icM un~i ~on~titucnt ~locument~. - 7. Protection of Lender's Seeurity. If Borro~~-r.r fail~ 1~? ~~erform th~ ~•o~•en~~ut~ an~i :?~reewents contained in ~s~ this \fortgage, or ii .im~ netion or ~~roceedin~ i~ c•omiueneecl ~~~hi~~h iuafer:ally atTe~t~ I.ender's interest in the Prop- ~ crty, including, I~ut not limite~i to, eminent doniain. in~oi~•~nc}•. ~•ocic• ~~nforcement. or arrange~nents or proceed- ings im•olving n l~ankrupt or decedent. tl~en I.ender ;it Lender'~ o~~tiou. u~>on notice to 13orrot~~er, m.iy make such _ ;?~~pear~nces, ~lisburse sucl~ sun~s and take ~ucl~ actirni i: nece~~~r~• to ~~rotcct Lender's interest, inclt~din~. but ~ ~ not Iimited to, ~iisbursen~cnt oi reasonahle attorne~•'~ tec~ an~l ~ntr}~ u~~on thc 1'r~~~crt~~ to ~nake repain. Any smounts disburse~l h~~ I.endcr ~nirsuant to this p.?ragra~~h 7. ~~-itl~ intere:t thereon, sh~tll becon~e ad~litional indebt- eclnc~s of Borro~r•er secured I~~~ this ~Iortgagt_ IJnlc~s I3orro~~•cr an~l l.cn~ier agrce to other tcrn~s of payment. such = an~ounts ~lu~ll be payable upon notice irom I.ender to Borro~l~cr rcquc~tin~ ~~avment thereof, and shall bear inter- ~~t est from the datc of di~bursemcnt at thc rate ~t~t~•~1 in tlic \'ote u»le~~ ~~a}•~nent o[ interest at sucl~ r$te would be. co~itrary to applic:~bte la~~, in ~~'hicli c~•ent such ,?mount~ ~li:~li he;n- intere~t at thc hi~hest rate pennissibie by applicable latv. \othing containe~i i~z thi~ ~~ar:~gra~~li ~~li:ill rc~uire Lender to incur 3n~• ex~~ense or do nny act hereunder. t:-: _ q~: ' ~ 800K ~?J l PACE ~5 , , . ' ~ ~ ~ . , _ - ; ~ } - - . - 5 --,.3...... . . _