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Home My WebLink About0071 UNtFOU~t OovaN~wrs. BorTaw~r and t.eixle~ «tive~une a~d agra as folbws: 1. !~t ot Pri~ci~l ~1 [atrt~st. Barrower si~ali prsxnMlY RaY when due thc principal of and intercst un tl~e indabtedness evidenoed by the Note. prepaytnent a~xi tatc chr,rges as p~~.vi~kd in the I~ae, a~i.i the principa) oE and intercsl aa aay F..-lure Advanc~ secured by this Mongagc. 1. Ftie~t tor Tues a~i Irw~uee. Subjcct to apptic~bk law or to ~ written waive~ by l_enckr. 6otruwe~ shall pay to I.ertder on the day awn~hty inst«Ilments of Qrincipal and mterc~t are pa~•air'e unJ~~ thc Note, until the Nae is paid in (ull, a swu (herein "F~tnds'~ equal to one-twe{fth of :he yearly taxes and ucessments which may atta~n pcio~ity ovar this _ AQaisage, and ~m~end rents on the f'~+operty, if any, Qlus onr-twel(th of yea~iy prcmium instalimcnts to~ hazard ir~surance. plus a~atwelfth ot yearly premits~e inslalimeo4t for mortgage ins~irancc, if any, all ac reu.~nabiy cstimatecl initially anJ ttom time ta time by Lcnder on tbe basis of as+~essmeuts and l~ills and reawoabl~ estimates thcr~of. . 1be fi~n~ shall be beW in ar~ institution the depoaits o~ accc~unts of whi:h are insured or guaranteaf by a Federal ~r atate agency (including Leader if I.ender is such an iastitution). I~rtder shall apply the Funds ta pay said taxa. acsessmcnts. iasuraut~ premi:ims and-~mut:d rents. l.endtr may not cha~ge for so holding and api+lying the Fundc, analyr.ing said account, or verifying a~d rnmpiliag said sssessments and t~ilts. unksc [~nder pays Harrower interest o~ the Funds and applicaWe law permits Ler~de~ to malce such a rfiaryse. Borrower and L.e~ckr may agree in writi~g at ~M: tir?ee af eaecution of this Mortgage that i~terat an the Ftin~s slwll be paid to tiorrowe~, and unla:s suc:i~ agreea~ent is made or applicabk law requires such intertst to be paid. I.rnder shull not be required to paY Borrower a~y interest or wrnings on the Furws. [.en~kr shall give to Borcower, without charge. an ar.nual accainting of the Fuixls showing credib and dehits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pleciged as additional socurity for the sums secured by this Mort~age. !f the unount of the Fa~is held by Lender. toge~hcr with !he [ut~re m~n~hly installments of Fu~ds payable prior to the due dates of taxa. usessments. i~urance premiums ared ground rents, shall exceed the amount reyuired to pay said taua. ~ assea~ents. insuranae_premiums and ground rc~ts as they fatl due, such excess shall be, at Borro,vers option, either pcomptly repxid to Burrow^er or crvdited to Borr+ower on rnenthly instatlments of Funds. If the amount oi the Funds hdd by i.onder shall aot_be wl5cieat to pay tues, a~snents, insurance prcmiums and gr~und rents~as thcy fall due, Borro~ve~ sball pay to l,ender any amount necessary to make up the deficiency ~vithin 30 days from the date oatice is mailecl by l.eoder io Borrower req~;stina paYment thereof. ' Upon payme~t in full of all swns securod by this Mortgage, I.ender shall promptly refu~d to Borrower any Funds bdd by Lxuder. If uade~ para,Rraph 18 hereof the Propeny u sold or the Pmperty is othecwise acquit~ed by l.enck~, I_enckr shatl apply, no later ihan immediateiy prior to the saie of the Propady or its acquisition by Lender, suty ~unt~s hetd Gy . Leader at the tiau uf aj-~.~'.~tion as s credit against the aums securod by this Mortgagc. - 3. A~ba at Paymeats. UnlGCS applicabk law pmvide~ othecwiu, alf payments received by I.etxkr under the ~ Note and paragraphs 1 and Z hereof shaii be applicd by I.ender ~irst in payment oi amounts payable to i.ender by Borr~vrer . under parsgraph 2 he~eaf. then to interest payablc o~ the Note. then to the principal o[ tl~ Note. and then to interest and principal on any Future Ad:•s.-ioes. ' 4. Ck~ I1ea~. Borro~tr shall pay all taxes. assessmcnts and other c5arges, fines and impositions auributabk to tbe Property which tnay attain a prierita? over this Mortgage. and leuehold pavments or ground rents. if anv. in the manner p~vided uader patagraph 2 hereof or. if not paid in such m:.aner, by Borrower making payment, wheo due. diroctly to the payee thoreof. Borrovrer ahall promptty fur;,ish to Lenckr all notioes of amoun~ duc under this paragraph, aod ie the evex~t $o~,~r ~~t ~t~ ~yme~e a~~aay, Borrower shall promplly furnish to Lender r~e~eipis evide~cing such payments. Borrower shail pranptly dischuge any lien which has priority over this Mortgage: provided, that Borrower shall not be~ required to discharge aay such lee~ so b~g at Borrower s~~aii agrce in writing to the payment ~ of th~ obligation secured by such liea in a manrx~ acocptabk to Leoder. or shall in good faith contest such lien by, or defend eafotccment of such lien io, legai proceedings which operate to prevent the enforcement of the Iien or fodeiture of the Property or any pzrt thereof• 3. R~wrd I~raeee. Boaower shall keep the improvements now cxisting c~r hercafter erected on the Property iosurod a~' !e~` by f te, ~~cluded within the term "extended coverage", and such ..ther hazards u Lender may require and in wch amcwnts aad for such aeriods as Le~der may require; provide~i. tbat Lender shall not require that !he amount o[ such covuage eaceed that smo~snt of cover3gr re~uired to ~ay ihe sums secure~ by th~s Mortgage- - - The iasurance cazricr providing the insurance shail be chosen by Borrower subject to approval by Lender, provisled. tbat such approvai sl~all not bP unr~asonably withheld. All premiums on inuuance policies shaU be paid in the manuer I providod under puagraph 2 hereof or, if not paid in such mwner. by 8orrower malcing paymeat, when due, directiy to the ~ imurance c~art~r. ~ M insurance poficies an.-i renewals thereof shal! be in fortn acceptable to Lender and shal! include a standard moRgage ° clause in favor of and in form a,^oeptaWe to_Lender. Lender shall have the right to hold the policies and renewak thereof. ~ and Bortnvrer shall prompdy fumisl~ to Lender all renewal ~otices and all ruxipts of paid premiums. In the eveot c?f loss. Borrower shaU give prompt notice to the inawance carrier and Leader. Lender may make pmof of loss if not made prc~mpUy ~ by Borrnwcr_ : . Unks Lender and Borrower otherw+se agrce in writing. insurance procceds shall be applied to restoration or repair of the 1'roperty damaged, pruvidod such restoration or repair is ecuaomicaliy feasible and the security of this Mortgage is ~ not thereby unpaircd. lf suc6 restorat~an. or repair ia not ecc?nomically feas~5te or if the security of this Martgage would ~ be impaired, the iasucaacx proc:oc~s shall be applied to the stu-.s secured by this Mortgage, with the exass, if any. paid to 8orrower: lf th~, Property is abandoned by &~rrower, or if Borrower fails to respond to Lender within 30 days from the date aotice is mailod by l.eader to Borrower that the iasurance carrier offers to setNe a ctaim for i~unnce benefits, Lender is authorized to colixt and appiy the i~uu~ance prover~ds at Len.-!er's option either to restoration or repair of the Property or to the sw~u ucural by this Mortg,a~e. Unkss Lender and Horrower otherwise agree in writing, any sucF appliration of procoods to principal s6a11 not extend or poatgcsr.e tbe doe datc of the monthly installments reEerred to in paragraphs ! and 2 here~f or change the amount of wch installments. {f under paragraph t 8 het~eof the Property is acquired by I.ender, all rig6t, title a_~d interest of Bortower in and to any iasurance policies and in and to the proceeds lhereof resulting iw~s: damage to iht Property prior to the sale or acquisition shall pass te l.eoder ta the extent of the surru secured by this Mortgage immediatdy prior to such sak or accluisition. ~ f, preservaHoa asd Maiate~nce of Property; I.embolds; Coadomiaiums; Pfanued Usk Dt~dopQacats. Borrower # a1W1 ~ceep the Property iL good repair and shall no~ cam~vit waste ar pe~mit impairneent or detereoration of the Property ~ aod sbalt complY with the provisioos of aoy Icase i( this Mortgage is on a Irasehoid. If this Mottgage is an a unit !n a ' ~ condominium or a Qlanned unii dcvelopment, Bormwer shall periorm all of Borrower s obligations un~er the decluation or wveaants creating or governir.g the condominium or planned unit drvelopment, the by-laws and regulaUo~ of the condominium or plauned unit devdopment, and constituent doctunents. It a condominium or planttod unit cievelopment rider ~t executod by Borrower and reconied tog~ther with thi~ Mortgage, the cavenants and agroemeats ai such rider s6all be incorporsud into and sha11 amend an~ supplement the ooveaants and agreements of ttus Mortgage as if ihe rider _ wers s aart iferoof- - 7, Profe~tioo oE I.eadu's Secaritj, If BorroKer faiis to periorn the coven~nts and agreements cun:ained in this = Mortga~. ~r if aay actien or proceeding is cotnmer~ced which materially aficcts l.endee's interest in the E'roperty. iacludins, but not limited to, eminent domain, insolvency, ca3e cnforccment, or arrangem+:ats or proceedings invvlving a baohrupt or dax~ent. there Lender at l.ender's option, up~n natice to Borrawer, may make such appcarar~c, Jisburse such E st~n~ and Wce s~eh action as is necessary to protect Leixier ~:nterest, insluding, but not limited to, disbur~ement of ~ rtasonabie attoroey's fces and entry upon the Propehy to makc repairs. I( Lcnder required mcrtgage insurarwe as a , coaidition of makin6 the loan socured tsy this Mortgage, Borrower shal{ pay the pr-~meus::s reg~,ired to maintain such ~ iouvance is~ e6tet. until such ti~e as the re~oirenieut for such ins~~~ance terminates in accardance vr-ith Bormwer s and ~ ~ ~ ~ ; ~j _i F!l~~E ~ ~ ~ ~ ~ _ _ ~G ~ i ~ ~ -~l ..t ~ - . . - '3 .:-a"'£ ~4...~.~:::~J