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Home My WebLink About2987 insured or guuruntec~t b~ a Fe~ie~il or ,titti~ :~~;e~~c}• ~i~u•lu~liu~; 1.~•niic•r if l.c~?~I~~r i. aucli :~n iustitutic~n~. I.ender ~hall apply the Funds to ~?ay ~:iiil t.txe•, .i<.c••iu~~ul•. i~~•~n~:uu•~~ ~?rc•miunr unil ~ruun~l iY~nt~. L~~n~l~r ~I~ail n~uke no charge forso holciin~ au~l i~pplyin~ th~ l~~uul, or ~•~~rifyin~; :uul ~•uiu~~ilin~ ~:?i~i u~.•~•;•in~•nl~ an~i biils. liorrower z~nd Le~~der mny agree in writin~ ut the time of c~xec•ution of ihi• \IortKu{~~~ thut intemst on th~• I~~~n~l~ ~h:~ll hc• ~nai~l lo l;orrower, an~l unlc~:.~ sucl~ aKree~n~nt i~ mr?d~~. L~•?i~ler shatl uot h~ m~~uinyl to Rorru~~•~•r au?~~ interc•~t on th~~ H'unde. I.ender shall ~irc to Borro~ecr. ~eithout ~~hnr~c, an ~?unual ac•rountinK of thc~ F~m~l~ sho~~~in~? ~~ralit~ nnd ~lebits to the Funds and tl~c purposc tor which eacl? ~Ichit to th~ Fund~ ~ras made. Th~ Fnn~ls :are ~?le~l~~~i a~ nddi- tionnl seeurity for the sums securecl by thi~ ~1ort~a~;c. ~If the umount. of the Fiu~cis hel~i 1?~• I.ender, to~ether ~~•itL thc iut~u•c monthlr iu~t:illment. of Funds {?a~~ahlc ~~rior to the duc dt?tes ot taxes, t?ssessments, insurnn~•e ~?remiuin~ an~l ~;round reuts, ~liall cxcce<I thc amount re- quired to pay said tnxes, assessinents, insurance ~?mmium~ an~l ~round rents :?s tl~cy fall duc, such excess shall he, ut Rorrower's o~~tion, cither promptl}• rc~?nid to Rorro~~er or creciited to Borro«•cr ou monthly instnllments of Funds. If the Amount of the F~mds held l~~• T,ender shall not hc ~ufTicient to i~sy t:txes, a~e.~ments, insurnnce pre- miums and ground rents as thev fnll ~iue; Norro~~•cr ~i~all ~?ay to ].e~~~1er an~• nn~ount ne~ecsury to make up the ~leficiency ~vithin ti?irty day~ after notice from I.c~~der to Aorro~~•er re~~ucstin~ ~~:?~ment: thereof. Upon payment in full of ~11 sums .ecore~l h~ tlii~ \1ort~nR~~, I.en~ler shall ~~ro~u~~tly reftmd ta Borro~ver :?n~• F'unds held l~y I.endcr. If under ~~arngraph 18 hereof the Pro~,ert.}• i~ ~ol~l or thc~ Propert}~ i~ othenvisc acquire~ by i.ender, I.ender ;hAll upply, no Inter than i~umc~iiatelv prior to thc ~a1c~ oi th~• Pro~u~rt~~ ur it, aequi~ition h~ L~•nder. .in~• Fund~ held by I.ender at the~ ti~ne of upplication u~~mdit u~?~~in~t the ~wus ~ecurcxt h~• thi~ \iortKA~e. 3. Application of Pctyments. Un?es~ ap~?licnble la~~• ~nn~~i~ie: other~~•i~c~. ,~II ~~:~}~ment~ rccei~~ect by i.ender uuder the Note a~?d p:?~ngraphs 1 and '2 liercof ~Ir~ll I~c :~~?~ili~yl h~• i.en~l~~r fii.t in ~~n~~mc~nt of uwount~ ~~:tl'Rble to I.endcr by 13orm~~er ~u~der ~~nrn~rnph 2 licrcof, thcn to inte~r:t ~~:~~~abie• un thr ~'otc :~n~i on Tuture :1c~~~nuce~, if ;in,y, an~# then to the principa) of the \Totc nud to th~~ ~~rincinal of Futum :1~i~~nuce~, if .iny_ 4. Charqes: Liens. Borrower sh111 pa~• all taxes, acsc•sment~ :uui othcr ~hnr~c~, fines nnd im~iositions stttrib- utable to thc Propert~• whicl~ mn~* att:?in a ~?riorit~~ o~~er this \(ort~aRc, arnl ~;roimri ~~ents, if nny, nt~ I.ender's option i~i tl~e iuanner ~?~rvided imclcr ~?aragraph 2 hercof ur I~~• Rorro~~•er makin~; ~~ayment. ~~~heu di~e, direct.ly to thc pnyee thereof. Aorro~ccr ~I~~11 ~~rom~~tly furni~h t~? Lender all noticc; of :ln~ount~ ~lue iu~der this pnra~raph, and in the e~ent Rorm~~~er ~hall ~nnke pavment ~lirecth•. Rorr~?~c~~• ~hsll ~?rom~~th• furni~h to I.en~ier reccipts evi- ~iencing such ~~nyments_ Rorro~~•cr ~hail ~?rou~pti~~ ~iic~har}~c :?m~ lirn ~~-hi~l? ha~ ~?riorit~~ over this \iort~age: pro- +~ided, that I3orrower shall i~ot 1?~~ require~l to ~iisc~l?iu-~;c• uur ~~~~I+ liea~ ~o IonR as Rorro«~~r ~I~all a~rcc in ~~ritin~ t~o - the p~?~•ment of the obli~ation securecl b~• such lien in ct mann~r :~c~~e~~table to Lemier, or ~hall in ~oo~l i~ith contest ~uch lien by, or clefend enforccmcnt ot ~uch licn in, le~nl ~~rocee~liuR~ ~~'hi~l~ o~~er:~tc~ to ~~re~•ent the cniorcement of the lien or forfeitum of th~ Property or sm~ ~~art thereoL 5. Hazard Insurance. Borm~~•er ~I~all kec~~ the i~u~i~•o~•einent~ no~~- rxi~tin~ or liem.iftc~r emc+.e~l on the Prop- ~•rt}• in~ur~•d agaiust~ lo~s b~~ fire, hazards includecl ~vithin the term "extended coverage°, an~i sucl~ other Lazarc~s as Lender mav requim :uici in snch amounts and for ~ucl~ ~?crial~ :i~ L~~ncle~r uu~}• require: pro~~ided. th:?t i.encler shall not require that the :tmount of such ~•orera~e ~rcecYi tlrit :~mount of ~•overage require~t to ~~~t~~ the .un~s secured by this ~tortgage. The insurAnce carrier ~?rovidin~; the insin•an~~e ~hall h~~ ~hosei~ In• RortY?~ver ~ubject to appro~~al b}• I.ender: ~n•ovidc~l, that ~ucl~ approvai sl~ail not be unrcasonabl~• ~vit.liheld_ All premiums on insurunce policic~ shall he paid at Lender's option in thc n~auncr ~~rovicic~l imdcr ~?ara~;r:~~~li 'L hercoi or I,~~ Ror~•o~~~er uf,ikin~; f?a~micnt, ~~hen due. ~iirectiv to the iusurance ~•arrier. All insttrance policic: and iY•ucr~~~:tl~ tlic~rof ~L:ill h~• in irn•ui :u~~~~•~?t:thl~ tc~ L~~nii~r aurl ~h:tli includc~ :t ~tandflr~l mort~age ~lause i~i favor o( uml in forn? ,u~ce~?table to l.emler. L~vul~•r ~liall hu~•c the rit;ht t~? Lol~l tl?~ ~+olicies and rene«•~Is thereof, and Borro~cer ~hall ~n•ouy~th~ furni~l~ to T.~•n~lc~r all rene«-~1 noticcs an~l all recci~>ts of ~iaid rre- n~iums_ In the e~~ent ot lo::, 13orron•er ~hall ~ire• ~~ron~~~t ~~oti~•e~ tu tLc in•~u•:??~~•e carrier :~n~l i.en~ler. anii I.ender iuz~- n~ake ~iroof of lo~~ if not. iuadc prom~~tl~~ !n• }3orro~~cr. Unlcss I.emler anrl Rorro~~•er otl?en~•i~c agme in ~~•ritinR, in~~n•:u~r~• ~n•o~~cc~i~ ~hall hc ap~~licd tu re~torstion or re~~air ~if the Yro~~ert~• ~lanri~~~l. ~?ro~~i~l~~~t ~u~•I? rector:?ti~~~? or r~~~~:iir i= ~~conun~i~~alh• fca~ihl~~ :inil the ~e~urit}• oi t1~is \Iortgage is not tl?ereh}• i~u~?aim~l. If ~ucl~ rc~tor:ition m• rc~~air is uot cconomicalh~ fe:?~ible or if the ~eci~rity j ~~f this ~Iort~.~g~: ~~•ou(~1 1?~ in~~?aircKl. fli~• in,iu,vu•~• ~~roc~ec~l~ ~I~:il! I~~• ai~plic~i to tL~• ~wns sccurc~i I,~~ tl~i~ ~lortgage. +~-ith the exeess. if :u~y, paid to Borro~cer. If thc• I'roimrt~• i• atr.u~~lone~l L~• 13orro~~•~~r or if Rorra~ser fails to respone~ ~ to T.ender ~~-ithi~~ 30 ~1a~~~ after noticc ht• I.en~icr t~i Rorro~~-cr tLat thc~ in~~u:~i~ce ~arricr off~r• to ~ettlc a claim for ~ ! insurance I?enefits. I.cn~ler i~ anthorize~l to c•ollcc~t ,uui .~p{~I~• th~• in~iu:uu•~~ ~n-oce~~cl~ .it I.encler's o~~tion either to ~ restoration or rc~?air of the Yro~~ert}• or to tl~e ~u~u~ secum~l h}• thi~ \[ortgage. ~ Unless I,ende~• an~i Borro~~•er other~~•i~~~ anree iu tivritin~. au}- ~u~•1~ ;ip~?licatiou of ~n•ocee~l~ tu princi~~al shall ; ~iot extend or post~?one tlic duc ~iate of tl~e montlih- in~tallnx~ut~ r~•frrrc~l tc> in ~?aragra~~li~ 1:u~+l 2 hereof or chan~e ~ the amount of such installments. ~ If under ~~arag~.z~~h 18 hercoC tli~~ Yro~?crh• i~ :u•yuire~i 1~~• Len~1~r. all right. titl~ :~n~i intcrc=t ni Rorro~~•er in :uul to an}• in~iirancc~ ~?ulici~~• snil in an~l to ih~~ ~~r~~~•ee~ts tli~•r~~~?f ~t~ th~• ~~xt~•nt ~Ef th~~ ~~un: ,e~urc~l 1?y thi; 1'Iort- ~ ~,age i~ume~liatel~• ~~rior to ~u~h ~.~lc~ or .~c~~ui~itioni re~nltin~; fr~?ui ~l:?in.~e~~ o ic !'ro~iort}• ~?rior to the <~le or ~ :?cquisition shall i~a~~ to I.ender. ~ 6. Preservation and Maintenance of Property; Lease s; Condom 'ums. Rorro~~~er ~hall kce~~ the Yro~~- ~ ert~• i?~ ~;oal repair:uul sh:~ll not ~,crniit or ~•ou~~:~it ~caste. iiu~,airnic~it. ur ~letcr~oration of tlx~ Pro~?ert~' and shall ~ ~•otnply ~~ith thc ~~ro~•isions of :in}' I~.tsc•. if thi~ ~lnrtgu~;i~ i~ ~m :t l~~u~cliol~l. If tl?i~ \iortfiane ix on a condominiutn ~ ~ unit, Rorro~~•cr ~hal) {~crforn~ sll oE Borro~~•c~r'~ ~~hli~ation~ iui~i~~r th~~ ~lc~laration of ~•rnu~ominiwn ~ir mAStcr dced, : ~ thc 1?y-la~vs anrl rc~ulation~ of th~• ~omiominiun~ ~~roj~•~•t .uui ron•titi~~nt dociiment~. ~ - 7. Protection o1 Lendei s Security. II Borro~cci• fail~ t~~ ~~crforn? th~~ ~•o~•cuai~t~ :u~~l :~rr~~cuu~nts contained in ~ this \Iortgage. or if an~~ 3ction or ~~roc•e~~din~ i~ couinumce~i ~~•hic~h n?ai~~riall}- afi~ect~ L~~~~cler'~ interest. in tl~e Yrop- ~ ~ erty, incl~uiin~. hut not limite~l to. c?niuent doi~uiiu. iu~ol~~~•nc~•. ~•~xl~• ~•nf~me~mc~nt. or :irranr;en~ents or proceed- ; ings involvin~; u I?aukrupt or iiecc<icnt. tlirn L~~n~ler at Lencler'~ o~~tion. n~~o?e uotic•e to 13orro~~•er, ma~ make such ? :~~?pearances, di~l?ur~e such ~un~• an~t tak~~ ~a~~l~ :u•ti~E: .t~ i~ ne~~~~~arc tn ~~rotcct i.en~ier'~ interest. including. but ~ ~ uot fimited to, di~hur~cn~ent of r~a~nnal,l~• attorn~}~'~ ic~~ an~t ~~ntn- u~i~?n thc Yro~?ert~- to makc repflir~. Any = ~ smounts dishinsc~l 1?~• 1.ender ~nu•~uant to thi~ ~~:u•agra~?1? 7.,~~•itli int~ r~~:t tl~~rcon. ~hall I,e~ome ad~iitional indeht- ~ ~ edness of Borro~~•cr ~ccured hy thi~ \lortfia~;e. I'.nl~~s Rorrn~~•cr an~i l.cnrler a~me to c~thei• term~ oi ~~ayment, such ~ ~ ;~mounts sl~:~ll be payal~le u~?on noticc fron~ L~~ruler !o Rorro~~-cr rc~uc~tin~ ~?n~~ment thercof, :tnd shall hear inter- ~ ~ e:st from the ilate of ~Iisbu?~en~ent at thc~ rntc ~tatc~l in thc ~otc~ unle~~ ~~a~}•n~ent ~f interest. at such rtttc ~voutd be ~ ~ contrary to ~tip{ilicable ln~?•. in ~~~hich c~-c•nt ~u~•h :imount~ ~I~:~II I~car intcre~t at th~• hi~hest rate ~?erniissible by ~ applic~blc I.?~r•. \othing ~•ontsinc~l in thi~ ~~ar;i~ra~~li i~l~ali irc~uirc Lcnd~r to inc~~r am• ex~~ense or clo any act ~ hereunder. ~ 8o~K238 ?~~~~~~p = ~ ~ ~~F ~ . ~ ~ x ~ti ~ ~ -w r ~ " - _ ~ . ~r