The URL can be used to link to this page

Home My WebLink About0050 ' ~ ~ t insured or ~unrant~~tii I~y a Feden?I or ,tute :?~eu~•}• liu~•lu~iin~; L~~u~lc•r if I.~~~ulcr i~ ~urli :~n in,titutiuni. l.ender = ~hall apply lhe Funds to ~?ay ~ai~l taxe~. u•sc:;.=nu~nt;. in•ur:uu•~~ ~rr~~~niuu?• an~l ~r~~un~l ~ti~nt~. l.c~~der ~l~sll make no ; c~harge for so I?ol~iinK xnd ap~?lyi~i~ Ihe Funds or ~•i~rif~~infi uml ~•c?n~~?ilin~; ~ai~l :?vc~.•m~~nts :sn~l 1?ills. Rorro~ver and ? L~mder n~ay ugre~ in writin~ nt the tinic of r~c~•ution of thi. ~lort~;u~;e thi~t int~~mst on th~ Fund~ ~hall 1?e ~~aid to ` 13orrower. ~ind unk~s.. .uch n~me~uen/ i• m.?d~. L~•n~l~•r •hall not bc~ mquinvl ta ~?:i~• Fiort~~~•er :u?v intemst on'the j H'u~cle. I~ender shal) ~i~•c to Rorro~~~cr, ~vithout rl~air~c, :lll ~nmr~l :?~cau~tin~; of thc Funds clio~~•inR ~redit~ an~! ~ debits to tl~c Funds and th~ ~?un?a~e ior ~~•I~icl~ ench ~Icbit to thc Funds ~~•n4 inadc. 'Che Funds are ~~led~c~cl as lddi- tional seeurity for t.he sums secured by thi~ \lortKK~e. If lha a~mount at the Funds I?el~i hy I.enJcr, to~e.~~er ~~•itl~ tlic future ii?onthlr in>tuUments os r•~»>~is ,,Ry~able prior to the ciue ~iatcs ot taxc., u.vc~sments, i~~:~urnu~•c ~?mn~iu~n~ :u»1 ~;rouud mnt., ~hnll exccecl thc nmoimt re- quired to pay said t~es, asscssmcnts, insurnuce ~?remiu~us :tind ~;rouud rents as thcy iall duc, sucb excess shall he, at Rorro~ver's o4~tion, either pron~ptly rep:~id to I3orroH•er or crcdite~l to I3orro~ticr on monthl~ installments oi Fuuds. If thc Amaw?t of the Funds hcld 1?~~ I.cndcr shall not be .u~cient to pn~~ ti?xes, nssc~~ments, insurance pre- iuiu~us and groi~nd ~~ents as they fnll due, Borro~~cr shnl) ~?a~• to I.cnder :im• :?mamt necessary to make iip the ~loficiency ~vithin thirt,y day~ .?tter notice irom i.ender to Borro~~•cr requcstin~ ~?ayiuent tl~ereof. Upon payment in i«!1 of :?11 sunis secured b~ thi~ \IortKn~e, I.ender shall prompth refund to 13orrower nn~~ Funds held by l.ender. If under pArngrnph 18 hereof the Yro~~ert}• i~ ~01~1 or tlie Yropertc i~ ot.hern•isc acquimd by T.ender, I.ender •i~~?11 npply, no Inter than imn?ediatel~ ~?rior to thc ~:ik• of thr Pro~~~rt}• nr itN i1Cf~lllslt10J1 b~~ I.en~ler. an~• Funds beld by I.ender t~t the time of application n~ a crc~lit aKain~t the ~wns ~ecwr~i b~• thi~ ~tort~age. 3. Application of payments. Unlec~ :~p~ilicrthle la~~• ~?ro~•i~l~• other~~•ise. .~li ~r,iymentc mceiveci by I.ender under the Note aind ~?aragrnpl~s 1 aud `l hcmoi ~h.tll bc .?~?~ilic~l 1?r l.cndcr fi~~t in ~?i~~~ment of 3n~uunts paynble to I.ender b~~ Borron•er under ~~:~rngrnph 2 hemof, then t~~ intc•m>t ~?:t~•i+hlc on tl~e \otc ~n~i on Fut~ur A~lvnnces, if any, :~nd then to ti~e principal of the Vote nn~l !o thc• !?rinci~~al of Futeim :~~h~ance., it :~nv. 4. Chctrges; Liens. Borro~ser shnll ~?a~~ nll taxe~. .~c~e~ments :uui ~ther char~es, fines nnd impositions attrib- utable to thc Propertv ~vhich ma~• :?ttnin a ~~riorit~~ ovcr this \Tort~aRe, an~1 ~round rent~, if nny, at I.ender's option in the mnnner ~»n~~idc~i u~der ~iari~gra~~L 2 l~erco[ or I?~~ Rorro~~~cr ~nakin~ pasyment, ~vhen due, direct~ly to the payee thereot. Rorro~~•cr ~hall ~~rom~~th• iurnich to Len~ier al) notiec~ of :uno~uit~ ~luc ~indc~• this paragraph, . tind in the e~~ent Borro~~•cr ~L:ill u?ake pny~neut directl~•. Rorro~~•cr ~liall prom~~tl}• inrnisl~ to I.ender receipts evi- ciencing such payments. Rorro~rer ~Lall ~?mn~Ptl~• ~li~cli:u•~;c~ an~• li~vi ~~~hi~h hns i?riorih• o~•cr this \fort~aRe: pro- vided, thnt I3orrower ~hnll not hc ra~uim~i to ~liscliai~;~ :iu~- ~~~cl~ licn so lon~ .?s Rorro~~•er shall ngrcc in ~vriting to the puyment of the obligAtion secured b~= ~uch lien in n~Rn~~~r :?ceept:~blc to I.en~ler, or •hall i~~ ~oal f~ith contest sueh lien hy, or cletend enforeemeut of ~ucL lie» iu. Iegal ~~roceecliu~~ «•hiel~ oa~er:?tc~ ~o ~?re~•ent the enforeement of the lien or forfciturc of thc 1'ro~~ert~• or ;u~~~ ~?nrt tl~ereoL ~ 5. Hazard Insurance. Bormn•er ~Lall kce~~ th~• i~u~n•o~•~~~nent~ nou- rxistiu~ or I~ereaftcr erecterl on the Prop- ~~rt~• iusu~Y~ci ngainst loss by fire, haz~u-ds included ~vitLiu tlu~ ter~u "extenrled coverage", sn+l ~uch othcr hnzards a5 ~ I.ender ma~• requim aud in sucli a~uo~~nts and for sticli ~~~rio~l~ a~ L~~ncic~r ma~• require: pro~•i~1c~l. that I.ender shall j not require that thc amoi~nt. of si~cl~ ~o~•crn~;c exceeci th:~t :~u~ouut oi covera~c requireci to pa~• thc sums seci~red by this ~~ortgagc_ The insurance ~arrier ~~ro~-idin~ tlic insurauce shz11 hc rliosen h~• Borro~~~er ~i~bject to appro~•al b~~ i.ender: {n•oviclc~ci, that such appro~~nl sh311 not he unreasonabh ~~ithheld. .'-111 ~~remiums on insurunce policics ~hall be paid at T,~i?cler's option iu the ~ununer ~~m~~i~ic~l un~ler ~?aragr:i~?1~ 2 I~~reoi or I,~• Rorro~cer makin~ ~?avment. when due. ciirectly to thc insurancc carrier. . All insurance ~?ulicie: uu~l rcnu~~•.il• thcrcof ~lr?II I,~ ii~ i~ir~u s~•~•~~~~t:tbl~~ to L~n~icr :uui •i~all inc•l~u1c a standa~Yi _ :nortguge ~~lause in fa~~or of an~l in fonn acce~itahle to I~n~lc~r. I.~•n~l~~r ~li.+ll hu~•~ thc ri~ht to hol~l tl~c ~iolicie: and rene~rnk thcrcof, anri Borro~+~cr ~h:?I1 ~n•auq~th• furni~l~ to L~•n~icr all rene~~•al uotice~ an~l all rcccipts of puid pre- miu~us. In the e~•ent of loss. )iorro~~•er ~h:ili ~i~•r ~~rom~~t iiotic~~ to fh~r i~i;~n•ancc~ r.u•rier sucl I.ender, and 1.ender ' n~xy i~z~ke ~?roof of lo~~ if not ~undc promptl}• h~- Aorro~~ci•. , I Unless I.ender 1n~i Borro«•cr other«im ;~~ree in ~~•ritin~, iu~t~r.sn~•~~ ~?rocced~ ~liall he :i~~~~lied to restorntion or ~ ~ repair of tlie Pro~?crt}• ~lain:iged. ~~i•o~ti~le~l ~ueli restor.itiou or rc~~~sir i: economi~alh- Iea:;il~le .in~l the secitrit~~ oi this ~[ortgage is not ti~ereb~' in~p~ire~i. It" ~uch restor:ition or rc~~:?ir i< not ~conomicalh• Ieasible or if the securit~ ~ of this ~tort~uge «-ould I?e im~i:~irect. tl~e imur~nce ~n•ocee~i• :h:ill I~c :i{~plic~l ta ti?r ~wus secure~i b~• this ~tortgage. ~ +~•ith the excecs, If 1il)', pairl to 13orro~~•cr_ I[ the I'ro~?crt.~• is al>:u,rlo~uKi h~• I3orro~ccr or if Rarro~~~cr fails to respond ~ to J.ender ~~-ithin 30 ~la~~ after ~~oticc h~• I.ender to Rorro~~•~•r tlu~t th~ in~ur.?n~•c rarrier ~~'en to ~ettle a claim for ~ insurnnce 1?enefits. I.ender i~ auti~orize~l to ~~olle~•t .uid ap~~l~- tlu• i~~~~u:~u~~~ ~?roceccl~ at I.ender's option either to ~ restor:?tion or rep:?ir ot the Yro~?ert}• ~ir to tl~e swn. secure~i I,t- thi~ \lortgci~e_ ~ Unless 1,ender and Borro~.•er other~~•i~c• agree iu ~vritin~, an}- ~ucl~ ap~~lic~ation oi ~~rocet~ds to princi~?~l shall ~ not extend or postpone thc duc ~late of the ~nontl~h- instailu~ent~ reicrrcil to i~i ~iara~ra~~i~s 1 ancl '2 he~cof or chanRe ~ the amount of such in~tallments. ~ ~ If under ~?aragrn~ih 18 hereof the }'~ro~~ert~• i~ :~cyuire~i I,}~ I.cn~ier. all ri~ht. titlc amt interc~t of Borm~ver in ~ and to nn}- in5urauce ~~olicic~ :uul in an~l to thc ~?ro~•ee~1= tti~•r~~of ~t~ thr rxtcnt of th~• ~mu: :ecnrc~l I?}• this ?4tort- ~ ~age imnreciiatel~• ~~rior to ~ucl~ =ale or ac~~tii~ition~ resultin~ iroi~i ~1.?iua~~ to th~~ l'ro~?~rt~- ~~rior to the ~Ale or f :?c~uisition shall ~~as~ to Lendcr. ~ ; 6. Preservation and Marintea~ce of Properiy; Leaseholds: Condominiums. Korro~~•er ~l~all kce~~ the Prop- crty in ~;ual repair :~nd shall not ~~erinit or ~•on?mit ~easte. iro~~:~irmcut. or ~leterior.ttia~ oi the Yso>>erty and shall co~n~,ly ~vith thc ~~ro~•isions of an~- leasc. it t?ii~ ~lortgagr i~ c~n Irnschol~l: If thi~ ~Iortgafie i~ on a condominium ~ unit., Aorm~ver ~h:~ll ~~erfonn al! of Borro«~cr'~ ~I?ligation~ n~ul~~r tl~c ~l~~~larati~n oi con~lomininm or master deecl. ~ the hy-latv~ an~i ~r.{;~il:?tions of the• ~~o~ulominit~n~ ~?mjc~t auul ~•o~tstitueut ~locinnents. 7. Protection of Lendei s Security. If Borro~~~cr tail~ t~~ ~~crforn~ th~• ~~o~•en;int~ :u~~l :~~:rec~nents contajned in ~ this \fortgage, or i! an~ action or ~~ro~e~~din~ is ~•omnum~~c~t ~~•hir.l~ iuateriall}~ af~ect~ I.eiader~s interest in the Prop- _ ~ erty, inelu~ing. frut not limitc~l ta eminent ciom:~iu. iu•ol~-c~n~•}•. c~al~• c~nfor~emeut. or .?rran~ements or proeeed- t ~ ings im•olving a i~a;~krupt or decc~icnt, then Len~ler at Lcnrlc~r:~ o~~tion. ~i~?on notice to Rorro~~er, ~n1v make such x a{,~~earance~, ~li~hurse such wn~s an~l take ~ach :~ctio» s~ i~ neces~ar}• to ~?rotect 1.ender'~ interest, including. but not limited lo, ~li~bursement of re:~sonalrle attorne~-'~ i'e~~ :in~l cntn~ u~~on the Yro~iert~~ to in~ke repair. An~~ ~ a~nounts disbu~ed hy I.ender ~nir5uflnt to tl~i~ ~~aragra~~h 7. ~~-itli intcre~t thcreon. ~i~all bccon~c acl~litional indebt- ~ edness of I3orro~+•er ~ecured I?~• this ~[ortgagc. ilnl~.s Rorm~~-cr anrl I.c~:rier agree to other fenii~ of payment, such :~roounts ~hall hc ~~ayal~le upon notice from Lendcr to Rorro~rer rec~uc:tiu~: ~~syinent thereof, an~l shall heti inter- est from thc ~latc of di~bur~ement ~t the rate statc~l in the ~ote tu~le~~ ~~.?~~uenf of inte~rst at such rnte ~~ou d be ~ contrary to upplicable la«•. in «•hich c~•ent such :unount~ ~I~nll I~c:u• interc~t at the 1?i~{hest rnte ~mrmissibte by applicable I:?w. \othing containrd in thi~ ~~ar:~g~.~~?ii 7~l~alt rc~uirc~ 1.rnder to inc~u• an~• ex~iense or do an~ aet ~ hereunder. ~ ~ ~ . . ~~t : t ~ ~S Fa~:~ 49 _ _ _ ~ , ..,,r ~ _ - _ : s~ .F..