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Home My WebLink About0014 uKU~o~u~t oovax~ns. eorro~wer ana l.eader covoaaat ana a~ree ss collows: L rq..~t ot rti~c~.~ a~i wK.d. e~r~owor .ban prompt~r wr w~~ a~,e u~e priactpal ot u,a iaterat on tbe indeb~edoett evidenoed b~? tM Note. PrePsyment aod late char~a as pravided in the Nota, ar~d the principal of utd iatet+at an aoq? Putut~e Advsooes ~ecurod by thi~ Morts~e. . llMi 71~M a¦~ L~. Sbbject to applicabb law or to a written wsivu by Le~de~. 8ormwe.r ~all WY ~o I,w~der on 1he day moathly? inst~llaaeots ot pri~cipal and interat are payabb under the Note. uMil the Note is paid in full. . a am~ (hecdn "Fund~'~ e4ua1 to ooe-twelKh ot the yeariy taxes and u~aama~ts which msy attaia prioriq? over this Irtat~e. sod p~ouod rwb on t!~ Yiopariy. i[ wy. plus oaatwelfth of yeufy pt~emiud+. ins~llmeab foc haaard iasurano0. ptt~ oaatweltth ot yeuly pcanium imtsllmeaU tor mortsaae ina~nnce, if my. all s. *~aaonably estimatod initially and from time to tiaie by Iresdec oa tbe bass of a~ments and billt a~d ressonabb estimata theroof. ° - 'l~e F1mds sbaU be bdd in an iastltution tbe depaib or accouaa of ~rhich are ins~u~ed or ~wraateed by a Fedenl o~ s~e a~acy (iochdinj I.eoder If Lecder is wch an iauitutioa). Lenda sball apply the ~Lnds W pay uid Wus. as~acneatt. inwranos pe+aniwra and ~ro~u~d reab. I.ender may not char,e for so hoWing aod applyins tha Ru~ds. analyr~ag:aid aooount~ ot v~cifyins and oompilin= ssid a~asmenb aad bilb, uale~ l.wder pan Borrower intereat on ttie ~nds and applicaWe law pamits Leoder to maka wch a chu~e. Borrowe~ and Leoder may agree in writin~ at the time ot exocution of thi~ Mort~a/e that intarest oa t6e Fuab shall be paid :o Borrower. and uolas such agreerneat is mide or spptic:abk laa t+equires wch intenst to be p~id. I.ender shall not be required to pay Borrower any inte~est or arniagi on the Funds. I.ender ~all pve to Horrower. witbout c6ar~e, an anaual acoountina of the Fw~ds ~owina credib aad debits to tbe Fw~ds aod We purpo~ tor whicb a~eh debit to tbe Funds was made. Tha ~nds are pledaod aa additional aocariry for the sums secured ~ ~ If tbe amount of tbe Ftmds hdd by I.ender, togcthe~ with the future monthly instalta~ents of Funda payabk prior to , . tbe due data of tauea. a~ts. iwuraocx Pr'emiums and smur~d nnts, shall exoeed the amount required to par said tues. as~a~meats. in~uranoe p~+emiums and amuad renb as they fall due. such excess shaU be, at Borrower's oQtion. eitlKx promptly tr~paid to Baruwer a credited co Horrower a, awnchly installmena of Funds. If the amouae of the Fuad~ bdd by Ltnder shaU_ aot be w~cieat to p~y tues. a~nents. insuranoe premiums aad ground reots ss they fall due, ~ Bort~o~we~ ~6a!! pay to Lzoder any amouot aece~ary to mate up ibe debcicncy ~ritt~ia 30 days fmm the date notioe is mailed b~? I.readec to Borr~o~ret ~'e9~E P~Y~nt tbereof. UP~ Wy~ in fuU of all wms sxured byr this Mort~age. Leoder ~all pranptly refw~d to Bo~rower any Funds 6eld 6ry I.eader. If under paca~rap6 18 6ereof tbe Pwperty is sold or the Property is othecwise acquired by Lender, Leader aL~ll apply, oo la~er thaa 9m~mediatdy prior to tl~e sale of the Propeity or its aoquisition by La~der. any Funds I~eW bp - Looder at tbe time of appliation as a cndit sgainst tbe sums sxured by this Mortsage. 3. A~feal~ ~i rq~e~b. Uakss applicabb law provida dherwi~e. all paymeats reoeived by i.ender unckr tbe No~e and pussrapi~s 1 and 2 6ereof ~aU be applied by L,ender first ia Paymeat of amounts payabk to La~der by Borrower tmder parasraph 2 hereuf, th~ W in[uest payabk oa the Nae, tha~ co th~ principal oE the Nae, snd then eo inten~t and pri~cipal on any Putuc~e Advaooa. 1. Ci~e~e~ Ije~s. HomoMrer shall pay all taxas. asse~meais and othe~ charges. flnes and "empositio~s dtributable to tba Propaty whid~ miy attain a p~io~ity mrer t6is Mortgaae, and less~hold payments or gmund reotti if any. in t6a maaar pie~ided emde~ Qua,~raph 2 hereof or. if nat paid in wch marmer. bY ~~8 P~Y~~+ when d~, directly to t~ pay~ee theieot. Bocmwa~ .hau pmmptly furnisn w I~nder au notioes oc amouna a~e under this para~rap~, aoa in tbe event Borro~w~er :hall make P~Y~ ~~Y, Borrower a6all P~P~Y to I.eoder reodpts evideodoa wch WY~~ Hoci+o~ret sha(1 P~P~Y ~Y ~ whid~ has priority over thia Mort~ase: Provided. tbat Borro~rer shaD not be ~eq~ired W dix~aree +wY such lien so bng ~ Bormv~n~r shall agree in writins to t6e paymeot of the' obliguion secuted b~? s~ch Iiea in a manner aooeptabk to La~der. or s6a11 in good faith oontest wch lien by, or defead eaforeaneot of such lim in. kgal proceedi~„s whic6 operata W prevent the eaforoeanent of the liea or forfeiture o[ tLe Propecty or any put tba~eof• S. Has~i Ir~aK~ BorcoMre~ sball kxp the improvemcnts now existinE or t~ereafter eroctod an t6e Property inwred a,~aio~t Wss by fln, hazards iaeluded within the twm "racteaded coverage,,, aad wc6 othec hazaeda as I,ender may requira aad in wc6 amounts and for wch neriods as Lender may roquire: Providod. that I.eader shall not ~quire thst the amount of wc6 eovera~e exc~eed t6at amount uf ooverage required to psy the sums secu~+ed 6y this Mortsaae. 1be inwraaoe cartier pravidios tbe inauranoe sball be chosen bp Bomower wbject to appwval by I.eoder, provided. that wch approvd s6a11 not be unrr~ooably withheW. All (nemiums oo ins~uancx policies ahall be paid in tha manner pra,riaea unaa par~raph 2 h~+eof or, if noc pa;a in auc6 manner, br Borrowu malcina rarma~. whea a~e. dirxdp w the ~ inwraooe carrier. li M na~tanoe policies and ~ewak t6eroof dwp be in form aooeptabk W Lender and shall include a staodard mortgsae ~ cLwe in favor of and ia fatm soaptabbe to Lenda. Leoder shall 6ave the right w hold tbe policia and ~+enewals thet~eof, and Borrow~er aball promptly furniih to Leoder all ren~wal notias and all noeipts of paid pnmiums. In the event o f I o s s, i Homower sball give pmmpt notioe to We insuranoe carrier and l~nder. [~eoder may malce proof of ioss if not made promptiy by Bormwer- Unktt Lender and Borrower otherwise agr~oe in writiag, insurance procoeds s6ai1 be applicd to ratoration or rep~ir of the Pt~opaty damaged, Pmvided such restoration or repair ia economically fea~ibk aad t6e seeurity of t6is Mortgaga is not thereby impained. If suc6 ratoration or repair is not coonomicaUy feasibk or if the security of this Mortpge ~vouW be impai~+ed, the inwraaoe proooeds shaA be applied to the swns sxured by this Mortgage, with tbc axas~. if any. Paid to Borr~awer. If t6e Pruperty is abandonod by Borrower, or if Borrower fails to respond to I,enckr witLin 30 days from the date notice is mailed by I.ender to Horrowcr that the inauranoe carrier otfers to setile a claim for ins~ranct benefits. I~eader is authoriztd w collax and app(y tLe insurance prooeeds at Lender's option ather to t+~Wnrion or npair of the Properiy or W the sums mo¢ured by_this Mortaage. Unkss Lender and Borrower otherwise agroe in writing, any such applicatia~ of proceeds to priacipal shaq nat extend or pottpone the due date of the monthly installments referred to in paragraphs 1 and 2 he~raof or changt the amount of wch instdlments. If under paragraph 18 beroof the Pmperty is acquired by I.ender, all right, titk and interest of Borrower in and W any insuranoe policies and in and to the proooeds thec~eof resulting fmm darnage w tbe Propaty prior to t6e sale a aoqnisition shatl p~ss to I,eader to the extent of the sums secured by this Mortga~e immediuely prior to. such aak or f~ r~er.aBo. aei Ma~aa~ee ur lropertr I.a~erola~ coadomin~ rbe~i v.it ne.do~.esb. Borr~ower shaU 1c~ep t6e properly in good repair and sball not com~pit waste or permit impairaoent or deteriontion of the Property and sball comply wit6 tbe provisions of any k~e if this Mortgage is• on a leasehold. If t6is Mortgage ~ an a unit ia a condominium or a plannod uait development, Borrower shall perform all of Borrower's obligations under the docluation ~ or covewats crestina or governiag tl~e condomiaium or planoed unit devdopment, the by-laws and regulations of the condominiwp or planned unit development, and consiituent docwnenu. If a condominiua? or planned unit developm~nt rida i~ e.:ecutod bryr Boaowu and rceorded togaher with this Mortgage, the oovenants ancl agreemwts of suc6 rider r s6all be incorporated into aod s6a11 amend and supplement tbe oovenants and agreanents of this Mortgage aa if tLe rider were a patt 6ereof. 7. hMectio~ ot I.eaiers Secrritf. If Borrower fails to perform the covenants and aaroemenb oontained in this Mortga~e, ar if any setion or prooeeding is commenced which materially aft'ects Leader's interest in the Property. includin6. but not limitod to, eaninent domain, insolvency; code enforcement, or arrangements or proceeding,s imolving a b~nkrupt or deoedait, then I,eoder at I.ender's option, upon notice to Borrower, may make such appearances, diaburse such wms and take pic6 action as is nooessary to protoct Lender's interest, including. but nd limitod to, disbursemeat of rq~ooabk sttora~y's fea aod entry upon the Property to make rcpairs. If Lender required mortgage inwranee as a eonditioa of makina tbe baa axured bY ih~s Mortgage, Borrower shall pay the premiurtu requircd to maintain such i~uranoe in e$ect until such time as the requireinent for such inswance terminates in accordance witl~ Borrowec's and . ~ao~x257 rACE 1.5 _ _ . . ~ ~r w~"3 ~~J