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Home My WebLink About0747 ` ~ ~t, _ l UN~~oRM GbveK~rns. Bormwe~ snd L.enJer covanant and ag~ee as follows: . ; 1• hV~~ ~~cll~I a~i Werqt. Bo~rowc~ shall p~wnp~lY paY when due thc pri~cipal of and interest w~ thc indebtednas evidenocd by tbe Notc, prepaymeol and late chargcs as pAvided in the Nate, artd the principal of aod inlcrost i on any FWur+e Advances securod by this Mortaage. i 1 I4~ !oe'ltises ni I~wrra~e. Subject to applicabk law nr to a writte~ waive~ by l.eoder. Borrower shall pay ` to I.endor on the day maMhly installments of principal and interest arc payabk undc~ thc Note. unlil !he Note is paid in full, j • swn (hereia "Fw~da") equal to o~c-twelfth ot the yearly tar~~s anJ assescments which may attain priorit~ over this ! I~tort~a~e, and gmund rena on che Proper[y~ it any, plus onc-twelfth of ycarly premium installments for hazard insuranc~e, ~ P~u~ ~-~1Rh of yearly pcemium installments for muttgage insurancc, if any, all as reawnably cstimated initially and from tima to time by Lender oa the buis of assessmeots and Mlls atxi reasonabk estimates thcreof. ~ "ibe Funds shall be held in an institutic~n the depcuia or arcounts af which are iruured or guaranteed by a Federal or ~ state agency (tncluding Lender if l.emler is such an irutilution). .l_ender shall apply the Funds to pay said taxa. assessments. ~asu~anca pr~em~ums a~d graund re~ts. Le~der may not cha~ge for sci holding and applying the Fandc. anaiyzing said account, ~ or verifying aad compiling said assessmonts and bills. unkss Lender pays Borrower interest on Ihe Funds and applicable law permits Le~er to make such a charge. Borrower and l.e~xier may agree in writing at the time of execution ot this ~ Mortgage t6at interest on the Funds shall be paid to Borrower. a~d unless such agrcement is made or applicable law ~ nequires stuh interest to be paid, Lt~der shall not be required ta pay Borrower ~ny inte~est or ea~nings on the Fu~ds. Lender s6all give to Borrower~ wit6out charge, a~ annual accounting of the Fu~ds showing credits and debits to the Fuods and the ~ purpo6e for which each debit to the Fur:ds was made. 7be Funds arc pkdged :~s additional security for the sums secured ~ by this Mortgage, c If t6e amount of the Funds held by Leoder, together with the futurc monthly installments uf Fumis payabk prior to ~ ttee due dates of tues. asxssments. insuranee prtmiums and g~ound rents, shall exceed the amount reyuired to pay said taxes, asseasroents, insurance premiums and ground rents as they fall due, such exees.c shall be, at Borrower s option, cither ; pmmptly repaid to Bormwer or creditod to Borrower cm monthly installments of Funds. If the amount of th~: Funds hdd by Lender shalt not be sut6eient to pay taxes. assessments, insurance pecmiums and gcuund reats as they fall due, $orrower sdaU pay to Le~der any amo~nt necessary to make up the deficiency within 30 days ftom the date notice is mailed by I.ender to Borrower requesting payment thereof. - Upon payment ia full of all sums securxd by this Mortgage, l_ender shall promptly retund to Borrower any Funds ; held b [.cnder. If unde~ ~ y paragraph 18 hereof the Property is sold or titie Property is otAenaise acquired by ~ender, Lender shall apply, no later thar~ emmediately prior to the sak of the Property or its acquisition by I.ende~, any Funds held by I.ender at the time of application as a credit against the sums secured by this Mortgage. 3• AppiieMio~ of P~ments. Unless applicable law provides otherwise, all payments reccived by [.ender under the Note and paragraphs 1 and 2 hereof shal( be applied by Lender first in payment of amounts payabk to Leniler by Borrower under parsgraph 2 hereof. ihea to interest payabk on lhe Note, then ta the principal of the Note, and ~hen to interest and principal on aoy Future Advanoes. ' I• C6ar~e~ I3eas. Borrower shall pay all taxes, assessments and othcr charges, fines and impositions attributable to tha Property which may attain a priority ovet t6is Mortgage. and teasehotd payments or gt~nund rents. if any, in the man~er providod under paragraph 2 heteof or. if ~ot paid in such mar.:?er, ay Borrower making payment, wha~ due, direcdy to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph. aod in the eveot ~ 8orrower shall make payment direcqy, Borrower shall prompqy furnish to l.ender receipts evidencing such payments. Borrower shap pranptly discharge any tien which has priority over this Mortgage: provided. thai 8orrower shaU not be er.quirat to discharge any such lie~ so long as Borrower shall agree in writing to the payment of the obligation secured by such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or Jefend enforcement of such lien in, ~ legal proccedings which operate to prevent the enforcement of the lien or Eodeiture of the Property or any part thereof. S• Nmrd Insutance. Botrower sl~all kcep the improve~nent~ oow eaisting or hereafter erectod ot~ the Pr~perty insurod - against loss by fioe, hazards included within the term "pxtended coverage and such other hazards as Lender may require and ia such amounts and for such periods as Lender may require; provided~ that L.ender s6a11 not require that the amount of ; such ooverage excoed that amount of coverage requirod to pay the sums secured by this Morigage. ; 'Ibe iasurance carrier providing t6e inwranoe shall be chosen by Borrower subject to approval by Lender. provided, i t6at suc~ appraval st~all not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner ; provided undet paragrap:~ 2 t~ereof or, if not paid in such manner. by Borrov?er making payment, wheo due, directly to the inwrance carrier. All insurance poticies and renewals thereaf shal! be in form acvepiable to Lencler and shall include a standard mortgage ' clause in favor of and in form acceptaWe to Lender. L~nder shall have the right to hold the policies and renewals thereof. ~ and Ibrrower shall prompUy furnish to I.ender all tenewal notices and all receipts of paid premiums. In the event of loss, Bornnwer shall give prompt notice to the insurance carrier and Lcnde~. Lender may make proof of loss if not made promptly by Borrawer. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shalf be applied to testaration or tepair of _ the Propcrty damaged, pcovided such restoration or repair is economically feasible and the security of this Mortgage is not thereby impaired. If such restoration or repair is not economicaEty feasible or !i the security of this Mortgage would # be impaired. the insurance proceeds shall be applied to the sums secureci by this Mortgage, with the excess. if any, paid i to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days !rom tt~e j date notice is rr~ailed by Lender to Borrower that the insurance carrier ofiers to settle a claim for insurance benefits. Lender - ! is authorized to collect and apply tE~e insurance prooeeds at L.ender's option eit6er to restoration or repair of the Property or to tLe sums secured by ehis Mortgage. t' Unleu Lender and $orrowcr othtrwise agree in writing, any such application af pra.~eeds to principa! shall not extend i or poatpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or cbange the amount uf such installments. If under paragraph 18 6ereof the Property is acqaired by Lender, all right, ~itk and mterest of Borrower ia and to any ie~surance policies and in and to the proceeds thereof resulting from damage to the Properry prior to thc sale or arrquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or acqaisition. " 6. Preserration aod Mainteaan~e of PropertY; [.ease6old~ Condominiua~ Planaed Uait Devdopments. 8orcower shall kcep the Peoperty in good repair and shall not com~it waste or permit impairment or deterioration of the Pcopeny and shall comply with the provisions of any lease if this Mor.gage is on a leasehold. lf this Mortgage is on a unit in a condominium or a planned unit development, Borrower shall perfonn all of Borrower s obligations under tfie declaration - or covenants crwting or governing the condominium or planned unit deveiopment, the by-laws and regulations of the ca.tdominium or plaaned unit derelopment, and constituent clocuments. If a condomir?ium or planned unit development rider i: executed by Borrower and recorded together with this Mortgage; the covenants and agreements of soch rider s6all be incorporated ~ato and s6a11 amend and aupplement the covenams and agreements of this Morigage as if the riJer were a part hereof. 7. Frot~ of Leode~'s Sec~ritr. )f Sorrower fails to pcrform the covenants and agreements contained in this' Mortgage. or if any acti~ or proceeding is commenceJ which materially affects l.ender's interest in the Property. including, but not limited to. eminent domain, inwlvency, code enforcement, or arrangements or proceedings involving a , t~anfcrupt or decedent, then Lender at Cender's option, upon notice to Borrower, may make such appearancrs, disburse such sums and take wch actiori as is aocessary to protect l.ender s interest, including, but not limited to, disbursement of reasonsble attorn~y's fces and entry upon tt~e Property to make rePairs. If Lender recuired mortgage insurance as a condition of malciog ibe loan securcd by this Mortgage. Borrower shall pay th:, premiums roquired to maintain such inwrance in effect until such tune as the requirement for such ins~ terminates in accondance with Borrower s and - 1 ~ BOOK iG ~ / PACf / ~ f