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Home My WebLink About0997 ' l'.•++ c~x~t Ccrvr:ti rs. Fi~~rrc~~var :in~ Lcn~irr r~~vr~?ant :irnl :~~~rrc f~~ll.~w~: I'atimrnt uf Yrincipal :sud intrresf. 13~~rra~.rr :h~.il~ prur~~ptE} p:~y Hh;,n i1,i~ ti~t p~ir.iip:~l c+f a:,.! ia:trrr+t .~n the iu:1•:h::;1;~,,,s eviaenced by tht Iv.~tr, prepaymrnt aa~ I.tte chargrs ~,n~vi.lyd in the \ut~. :en.l tha ps;:~~ipal uf ~nd +ntcr_st cm :.a~ Future Adva~ces ~ecur~d by this htortgagr. 2. Funds for Taxes a,~d lnsurnnce. Subject to applicabie Irnv or t~ a~~r;tt~n ~v.+ivtr by 1~nSer, Ite~rrower sh~ll pay to 1.. ~~.1 ~r i~n the ctay mu~thly ;n~talln:~nts of prin~ip.u ~ad intrrr~t .~:c pa}at,le un~lcr iti~ \i~tz, u;~til tii_ is p.~id in full, . s:.r.~ (i~~rein ''Fun~ts"1 cyual to une•t~+•clfth ut th~ }~arly' ta~r, an.l :s.;c~sn~ent: Hhi.`~ tn~~ a;t~~n ,^.r:.,ri~y ovar thi~ l~f.~r!~s,,~. :ind ground rents on the Yroperty, if any. pl~u o~e-twelt~h u[ y~carly premium i:is;al{mz~+s for h~zard insu:~ncz, F~lus on~-t:~•e;fth of yearly premium ir~staHmtnts tor murtgage imur~«c~, i( any, atl rc;s~onably ~ctima!ed initi~lly and from t~r~n to tima by Lender un the basis of assessments snJ hills and rc.t~~~nsble ectimatrs thereof. "Ilr: 1=unds shai) be held in an institution the drposits or accounts «t which •rre insured or Lnsa;antced by a Fec?eral or s::eta a,,~ncy (including Leude~ if [.cnJer is such an in~titution). I.enarr shaU apply the Fundi to p:,y said taxes, a~.~>sments, i::~u:.ince premiums and ground rents. I.en.ler may not char~e ior ~o h~~idine and applying the r~inds, :tci~lyzing said ace~unt, o~ ~~>rif~~in~ and compiling yaid assessments and hills, unkss I_en~er p:?ys E3orrower interest .+n thz Fur.~s and ~pplicablc law p~rm~ts I_ender io make s~lch a charge. Borrower :ind Lendcr inay agrea in writing at tha time ~~f executi:~n of this '?l;~rt, age th:U interest on tne Funds shall be paid to Borrower, and unless such agre~mtnt is made or ::pplicable law ~eyui:es such interest to be paid, Lcnder shall not be r~quired t~ pay Borrower sn}• interest or carninsts on tha Funds. Lender s`~a!1 gi~~e to Fiorrower, without charge, an annual accounting of ttie }~un.is showi~g credits :~nd debits to the Funds and the p?ir~~~t for which each debit to the Funds was m~de. Tne Funds arC plzdged :u adsiticmal security fer the sums securrcl hy' ~~:Ia ~IO[Ia:lt~'C. lf t;~e Tmount of the Funci~ held by Lender, tooethtr with the future monthly imtallments of Funds payable prior to t~:e Jue d_~ies of taxes, assessments, insurance pr~miums and grou~d rents, shall exceed the amount reyuired to pa~ said tares, as~e~ments, insu~ance premiums and ground rents :+s they [all dut, such excetis shall he, at Borrower s optiun. either prumptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amuunt of the Funds held by Lender shall not be sufficitnt to pay taxes, assessments, insursnce premiums and ground rents as they fall due, ~iorrowrr shall pay to Lender any amount necessar~~ to mak~ up the deficiency within 30 da~~s from the date notice is mailecl by Lead~r to Borrower reque~ting payment thereof. ' Up~n payment in full c~f all sums secured by this Mortg~ge, I_cnder shall promptly refund to Borrower any ~unds heid by L.en.le~. If under paragraph IR hereof the Property is sold ur the Property is otherwise acqu;red by Lenda~. Lender shaii apoly, no later than immrdiately prior to the sale of the Property or its acquisition by Lender. any Funds held by Lender at the time of application as a credit sgainst the sums secured by this tilort~age. 3. Application of Payments. Unless applicablz law provides othenvise, all payments received by I_ender under the tiote and para~raphs 1 and 2 hereof shall be applied by Lender first in payment of amounts pavable to I_ender by Borrower under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interzst and prir.cipal on any Future Advances. a. C'harges; Litns. Borrower shall pay all taxes, assrssments and otfier charges, fines and impositions aitrib.itable to the Proparty which may attain a priority over this hiortgage, and lcaszhold payments ur gtound rents. if any, in thz manner ~:o•~i~ed undrr paragraph 2 hereof or, if not paid in such manner, by Borrower making payment. when due, directly to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the event [3orrower shall make payment directly, Borrower shall promptty furnish to Lender receipts evedencing such payments. i;orrower shall promplly discharge any lien which has priority over this Atortgage; provided, that Borrower shall not be reyuised to discharge any such lien so long as Borrower shall agrc~e in uriting to the payment of the ooligation secured by such lian in a manner acceptable to Lender, or shall in gaod faith contest such lien by, or defend enforcement of such litn in. legal proceedings which operate tu prevent the enforcement of [he I~en or forfeiture of the Property or any gart thereof. S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter ertcted oo the Propetty insured rgainst loss by fire, hazards included within the tcrm "extended coverage", and such other hazards as Lender may require :,~.ci in such amounts and for such periods as Lender may require; provided, that Lender shall not require *.nat the amount of I suci~ Loti~:ra3e exceed that amount of co~~erage required to Pay the sum, secured by this :~tortgage. ; 'i~e inw~ance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender. provided, ' t:iat s~~c;~ approval shall not be unreasonably wi:hheld. All premiums on insur3nce prlicies shatl t+e paid in the manner - ~ provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the insurance carrier. A!I insurance policies and renCwals thereof shall he in form acceptable to Lender and shall inctude a standard mortgage cla:,~z :n favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, and 3orroKer shall promptly furnish to Lendec all renewal notices and all receipts of paid premiums. In the e~ent of loss. ( Borrower shali give prompt notice to the insurance carrier and Lender. Lender may make pcoof of loss if noi made prompt(y f by Borrower. i Unless Lender and Borrower otherwise agcee in writing, insurance proceeds shall be applied to restoration or repair of ~ the Property damaged, provided such restoration or repair is economically feasible and the security of this biortgage is not thereby impaired. If such restoration or repair is not ecanomicall} feasible or if the security of this ~tortgage would be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the e?ccess. if any, paid to Borrower If the Property is abandoned by Borr~wer, or if Borrower fails to respond to Lender within 30 days from the Jate notice is mailed by Lender to Borrow~r that the insurance carrier. offers to settle a claim for insu~ance benefits, Lendtr 4~,th~~rized to collect and apply the insurance proe:red~ at Lender's eption eit6er to restoration or repair of the Property ~r to the suma secured by this Mortgage. ' Luiess I_ender and Borrower utherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due date of the monthly installments referred to in pa~agraphs I and 2 hereof or change thz amoont ~of su:.h instaliments. If under paragraph 18 hereof the Property is acquired by Lender, all right, tide and interest of Borrower ~ in and ro any insurance policies and i~ and to the proceeds thereof resulting from dama,e to the Y:opzny pnor to the sale or ::cc;~i~ition snall pass to Lender to the e~ctent of the tiums secu; ~d b}~ this \lortcagz ir,.mediately prior to such sale or ~ :.:yuis:tion. 6. Presrn~alion and ~laintenance of Propertr: 1_easrhold.; Corllr~miniums; Planned l:nit Ue~elopments Borrow~er ~ s.i~.~':I ~.~_•.p the Proprrty in g~?acI r~Fair and shalt not commit waste ur ~~ermit ;mpair.~nant or deterior3t~on of the °roprrty ~ a~2d sha{I compl}• with the provi,ions of any leasa i: this ~tortga~,e i; on a I~zsehold_ If this Mortga¢e is on a unit in a ~ c~~d~~~~inium or a planned unit development, $orro~er sh:,ll prrform all oi Bormwers ohli~auons undzr the declaration ~ or ;:o~.~.~a.,nts crrating or governing thz condominium ~~r planntJ unit developmrnt, the b}•-iaws and rzgulation; of the ~:,~m or plann~d unit d~.~~1.~pr?ze~~t, an~ cc~,.~ti:uent cl~~~~.:r:~._~s,. If a con~uminium or pfanr.:d unit deve!nPment ~ u~':r i: exe~used by Borrower and ~ecordeJ to~ether with thi~ ~iortga,e, the co~enants and agr.eme~ts of such rider ~ s},a1i h~ in~,rporated into and shall amend and supplcment the cnrrnants an:l a~reemrr~ts of :hi~ ~i.•rtgage as if tiie rider ~ ri hereof. ~ , ~ 1'rutrction of i.enders Secorit}. iF lic•rro~.~°r f:~il: t~• ~er+~~rm the covenants sr~.l akreerr.tnts crntainzd in this ~ or if any action o. pruceeding i: cammencrd khi~h tn;:tcrially :+S~e.ti Lenilrr'~ ittterz~t ir. tht Pr~prrty, ~ in.l;~d~n~, b~it not limited to, emicent dotnain, insolve~cy, ccrJe enfor.~mrnt, or a?ra?~~;er.ients or ~r~~eedings involvir.g a ~ b:::~~rupt ur decedent, then l.cnuer at Lender's opt;un, upun notice t.~ Ilorrower, may make such apprarances, di>hursz su:h ~ ~t»;r: a~..l take Such action at is nec~.sary to prntrct 1_ender'. intere,t, in~lud~ng. but not lis;~ite~l to, Ji>burs.:mcnt oF ~ i, sttomey's fees ::nd cntry upun ihe Pro~xrty to rn ~le r~~.rr`. If I erder tc~;uire~ mort; aze imilra~ce a~ a ~f tuaking the l~~an tic~ure~! by this ~tor;,:~~,e. t3orrv~.er st~.J~ Piy t4•_ prrmn.r; r~y:n;~:, W maint.iin cuch ~ i;i ~~~c•cL u.^.til •e.h tim~ tFs: reqi~ir_•~;~en; fa~ ~t~~h tt~,~i:~:~cr ,.:rii:t.~i~_s izi sc~n;da:.:_ •-~:;h 3orro~.~~e~: .:ttd ~ , ~ r_ ~ ~~5 PAGf • ~ ~ - ~ . r- - . - . - - - ' =y~ _ . -s . _ _ _ - ~