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Home My WebLink About0865 ~ Uttaon~t Oovansttts. Borrower aad l.~encle~ covena~t and agroe as foqows: ' L!1p¦~a~t ~t hi~c}~l a~i l~kse~f. Bornowe.~ ahall promptlY paY v?he~ due the princip~l of aod iaterast on th~ :odebied~ess evideaoed bp the Nota, pcepaymeat aad late charges as provided in the Not0. a~d the p~ncipd oE and intercst a~ a~ PuRune Advanas ~ecurod b~r thia Mortsqe. lY~i f~ 7'a~s aM [rwe~a~e. Stibject to applicabk law ar ~o a written waiver by I.ender, Borrowe~ shaQ paY b l~esder oa U~e dsy moathry i~stdlments of principal and intcrat irc payable under the Note, uatil the Note is paid in full. a saw tbe~ein "Pund~'~ eqwl to oae-twetfth of the yeariy taxes anc! assasime~a which aaay attain priority ove~ this llaf~a~R aAd p~amd teals oa tha Ptoperty. if any. plus one-tvrelfth of yearly Premiuan installments for hazard insurance. pMt are~ of ~rearty p~emium iastallments for mortgaa~ee insunnoe. if any. all u nssonably eatimated i~itiaUy and from iae b dme bq l.eedet oa the bssis of usessmeots and bills and reasonabk estimstes thereof. 71e ]~e~ s6ap be hdd 'w an i~atitution the depoaia o~ accouots of which are insurod or guarantced by a Federal or ~ta1e a/~eee7 (iechdins l.eoder If La~der is such an institution). Lender shall apply the Fuads W pay ss~id ta~?a. asseasmenta. i~a~oe praoi~nt aod ~nound rents. Lender may ~wt ch~rae for sa hoWing and appiying the Fuads, analyzin~ said account, or ~aityio~ aod oompiiie~ s~id sasasments and bills. unkss I.ender pays Bormwer intenst on ihe Funds and applicabk law pa~eits I~ender to mske wch a chuge. Borrower aad Lender may agree in writing at the time of ea~ecution of this Yo~t~ye tb~t iataat on the Funds s6aN be paid to Borrower. and unkss sucd agroement a made or appticabk law requira adch inlerat to ba paid. Lender shall not be requircd to pay Borrower any interest or earaings on the Funds. Lender sW yn~e b Borr+awer, witbout cbarga. an annual aooountina of 1be Funds ahowing eredib aad d~bits to the Funds and the ~ p~po~e to~ ~rbich d~ch debit to the Fuads was made. Tl~e Funds a~e pledged ss additional security for the sums socured b! ~ - If tbe aesouot of tlra Fund~ bdd I.tndcr. together with the future monthly installments of Funds payabk prior to ` t~e d~e ddea of ta~s, asseaments, iMUrance premiums and ground reats, shall exceod the amount required to pay said taxes, awa~eab, i~snoa premiums and ground rents ~s they fall due. such eaccess shaU be, at Sorrower's option. either pw~ptl~ npid to Borrow~a a~ credited to Borrower oa rrwnthly installmenta of Funds. If the amount of the Fw~ds idd 14 Lead~e~ sbaU not ba wi6cieot to pay tua, se~ssa~ents, iasurance premiums and gcound rents as they fall due, 1ato~er sbaU pay W Leadtr aay aawunt neoessary to make up the deficiency within 30 days fmm the date notia ~ mailod - . ~ Is~de~ b Bort+owre~ ~equating payment theetof. tJpoa payment in fWl of all swns secured by this Mortgage. l.ender ahall promptly rafund to Borrower any Fun~ MJd b~r I~. If under para~rapb 18 hereof the Property is soW or ihe Property is otherwise aoquired by l.ender. Lender ~Wl sppiy. ea late~ daa itnmediately prior to the sak of the Property or its soquisition by I.tnder, my Funds hefd by I,e~ier at tbe 6me ot spplicatioo as a credit aaaiast the sw~u secured by this Mortgage. 3. A~ieatiN ~f l~re~ls. Unkss applicabk law provida othenvise. all payments received by Lender under the Nde aod p~ra~capbs~ 1 aod 2 ba+eof sl~all be applied by Leuder 6rst in paya~ent of amounts payable to Lender by Borrower mder p~ra~sph 2 be~of, then w interest psyabk on the Note. then to the principal of the Note, and then to interat a~ p~irciptl ea sup Future A~dvaooes. _ L`~er, I3es BoR~ower shall pay al! taxes. ass~smeats and other charges, fines and impositions attributabk to Iie lrop~eety w6ich tqsy adain a ptiority over this Mottgage. and kssehold paya~eats or ground rents. if any, in the manner po+ided ander par~aph 2 bereof or, if not paid in such manner, bY -Hormwer making payment, when due. diroctly to the pt~ee t~eof. Bernaw~er a6a11 prempttr furniah w Lender all notices of amounts due under tha pai~agraph, and ia the eveat Hazvwer sbaH malce PaYmeat dira~lY, Borrower shall P~PUY fumish to La~der reaipts evidencing wch payments. 'ai~o~w~a sbaH p~omptty discbarae any li~ which has priocity over this Mortgsge; provided, thaf Borrower shall not be ee+~oied tio di~char~e aoy wch lien so long as Borrowa shall agree in writing to tbe payment of the obligation securcd by s~ liea in a maoaer aooeptab~e to La~der, or shall in good faith contest such lien by. or defaid enfoneement of such lien in, fepl p~ooeedi~s ~hich operat~ to prevent the enfoe~nt of thc lien or forfeiture of the Property or aoy part thereof• , S~ H~i iwar~a Botrowec s1wU keep the improv~mrnts now eaciatiag or hereafter erected on the Property insured api~ las bf 6re, 6azards iacluded within t6e term "eactendod coverase". and wch other hazards as Leader may requii~ ad is a~h ao~ouols md for wch periods as Leader may re~uire; provided. that Leuder shall not roquire that the amount of s~ci oo~raaa~ee ex~oeed t6at amount of coverage roquirod to pay the sums secured by this Mortgage. _ 'ife ianuaoae c:nier providing the insuranoe shall be ct~oseo by Borrower subject to apprpval by I.ender, prcwided. wat suc~ appeoval sball not be uareasooably withheW. All praniuros on inauranoe policia shall be Paid in the manaer paridod nader para~ap6.2 beieof or, if not paid ia wch manner, by Borrower makin6 paymwt, w6a~ due. directty to tha ; i~wca~x ca~rier. ~ A~ i~oe policies and rwewals thereof aha8 be in form acoeptabk to Lender and shaU include a standard mortgage I clame ia fa~ror of and ia fam scoeptabk to Len&r. I.eoder shall have the right to hold t6e policies and c+eoewals thereof, ~ aed'orto~w~er sball pratnptly furnith to Lender all renewal notioes and all reaipts of paid pruniums. 1n the eveat of loss, Sornow~er sbali aive prompt notioe to t6e insuranve carrier and Lender. Leoder may make proof of loss if not made promptly bl Hor['aiw~er- ~ ~ Uoles La~de~ aod BaTO~wu dherwise agree in writina, insurance proceeds shall be applied to restoration or repair of ~ t6e tm~pat9-damaaed, providod wch restor4tion or repair is oconomically feaaibk and t1~e security of this Mortgage is aot t~ereb~r ~ired. If suc6 restoration or rcpair i~ not oconomicaUy teuibk or if the secarity of this Mortgage would be i~p~ir~ed. the i~uaooe proceeds shall be applied W the sums secured by this Mocigage. with the eacoes~. if any, Wid tu Hociowe~. If tbe Prnputy ia abandoned by Bomower, or if Bornower fails to rapond to I~cnder witt~in 30 days from the d~te ~otioe a mailed bp Leader to Borrower that the insuranoe carrier ofiecs to settle a claim for inwrance benefits, Lender 's aattiorimed b oopect and appty the insuranoe prooceds at I.ender's option ather to restoration or ngair of tbe Property or b the soms s~cured by th~ Mort~e. s Udas I.sader and Borrower otherwise agree in writiag, any such application of proceeds to principal shall not extend _ or poYpooe the due date of tbe monthly installments referrcd to in paragraphs 1 and 2 hereof ot change the amount of ssci ~ts. If unda paragcap6 IS 6er~eof t6e Proputy is acquired by I.ender, all right, titk and intenst of Borrower i~ aed to a~r insuranx policies and in and to the proceeds thereof raulting from damage to tl~e Pmperty prior to the sak ~ or soqiritioa s6a!! pass to Irenda w tbe eactent of tl~e sums securod by this Mort$age immediately prior to such sale or ao9iitim- - f. I~aliw a~i Mai~cs o[ trupart~; I.easeiddr Coadoaioiwor, Plao~ed Udt De~doNewb. Bormwer s~ k~eep t6e Propert~r in ~ood npair and shall not com~pit waste or pumit impairment or deterioration of the Property a~d aha~ oompiy with the provisiaos of aay ka~e if this Mortgage is on a leasehold. !f this Mortgage is on a unit in a oo~do~iw~ or a plamed ~it developnent, Borrovvet shall perform all of Borrower's obligatio~ undtr the declaratian o~ ~ ueatiq~ or ~orernina the condaniuium or plaaned unit development, the by-laws aod regulations of the aoodooiei¦o or phooed unit development, and comtituent documents. If a condominium or planned unit develoPment ~ rider is esaaNed by Bormrwx and reo~~+ded together with this Mortgage, the coveoants and agroeouots of such ridcr ~ be imoorpoeatod iato and :baU aa~a~d aad wpplement the ooveoants and agroaucnts of this Mortg~ge as if the rider sere s p~ has+of. 9. ~~t Le~ier's Sec~. If Boamv~er fails to perform the cova~anta and agreements contained in this 1Lortpye. or if a~? actioo or prooadin,~ i~ coma~enoed which materially aHects I.ender's iaterea~ in the Properry. ~ but not Iimited to, eminent domaia, insolvencp, oode enfoneeaient, or urangemenb or procxedin$s imdving a 6~¦t~npt ar deoedeN, tben Irenda at Leader's option. upon notioe to Bomower, may malce wch appearanoa, disburse such ss a~ Wc,e web sdioo as it aeoessary w protect I~der's interest, includiog. but not limited to. disbuisement of tearo~s~bie aRtom~r's tea aod aitry upon t6e Pruperty W mske repairs. If Lader required mort~e imnraooe ss a oo~~tio~ pt m~ tbe {wa sec~red by this Mortaage, Borrower shall pay the premiums rcquired W maintain wch iw~a~oe io e~ect uoW wch time as the cequiremeat fo~ such iasurance terminates in a.~cordanoe with Borrowe~s and - ~ - 8~274 ~ 864