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Home My WebLink About0654 ,.a,v~~i. ~ ~t . ? : • a~~ Cu~~ ~,~:..s_ 5.~~:owrr an.! Lcu~ir~ ~.~:~rn.r.tt .~n~l ;::;cc i:~7~~~wc' l. E'a~mrnt uf Primip~l ~od Intert~t. lturrowrr .h;~ll promptty pay ?.hrn du~ tn~ principal uf anJ intercst on the ~ in.:~h;ednr>; cvi~3cn~r1! I~y thC Nute. prc:paymcnt and I:IfC l'Fl:l(bC~ as pruvided in the ~1ote, and the principal of and intrrest o~t sn~• Fuwre Advanccc stcureJ bp thic ~turtgage. I~un~i. for Taxes and lnsuranca Subject to applicable la~a• or to a«ritt~n waiver by Len~ler. Rutrawer shall pay to Lr:,.l~~ on ~he day monthiy instatimcnti of pri~cipal ard iutcrr?t are f~ayable under the h~~ta, until ~he No~e is paid in full. ~ s ~um thrrcin "Furedi') aqua) tu one•tH•clf~h af thz ycarly ta~~; anJ sssrssm~nts which may attai~ prioriry over~ this ~tort~s; c, snd ground rents on thz Propa~ty, if a~y, pluc one-tw~lfth of ~early premium installments for hazard insuranca. plw o~t-twelfth of yca~ly premium ir,stallments tor mortgage insurancc, if any, alt as r~asonably estim~ted initi~fly and fmm time to tiniz b~' Lcnder on tht basis of asiessments and hi11. and reasanable estimatcs thercof. 7he Funds shall tk held in an institutiun the deposits or accounts of which are insured or guara~teed by a Federal or state ~~ei~c~• (including Lendar if Lende~ is such ao institution). Lender shall apply the f~u~ds to pa~ said taxes, assessments. insu:ance premiums and g~ound rents. l.ende~ may not charge for sa hotding and applying the ~unds, analyzi~g said account, or .•trii)~ing and compiling saiJ assessments and bills. unlrss l.e~der pays Borrow•er interest on the Funds and applicable law permit; Ltnder to make such a charge. Borrower and I.ender may arree in writing at the time of execution o[ this ~tortcigz that interest on the Funds shall be paid to Ilorrower, and unless such agreement is made or applicable i~w rcqi~irzs such intcrest to be paid. [.cnder shall not be rcyui~ecl to pa~• Bor~awrr any interest or earnings on the Funds. Lender shatl gi~•e to 8orrower, without charge, an annual accountiog of the Fun.i> >howing creJits and debits to the Funds and the pur~>>e for «•hich eaeh debit to the Funds was mada. Tr?e Funds are pledged as additianal security for the sums secured by this ~iortgage. If the amount of the Funds held by Lcnder, togethrr with the future monthl~ installmeats oF Ftmds payable prior to the due datrs of taxes, assessments. insurance premiums anJ ground rents, shall exceed thz amount required to pay said taxes. asxss:nents, insurance premiums and ground rents as they fall due, such excess shall be. at Borrower s optioo, either promptlp repaid to Borrower or credited to Borrower on monthly installments of Funds. 1[ the amount of the Fu~ds held by Lender shall not be sut~cieot to pay taxes~ assessments, insurartce premiums and ground rents as they fall due. Borrower shaU pay to Lender any amount necessary to ma~:e up the deficiency within 30 da~~s [rom the date notice is ~mailed by Lender to Borrower rcquesting payment thereof._ - Upon payment in full of all sums secured by this Mortgage. Lender shall promptly refund to Borrower any Funds hold by Lendtr. If under paragraph 18 heceof the Property is sald or the Property is otherwise acquired by Lender, Lender shafl anolp_ no later than immediately prior to the sale oF the Property or its acquisition by Lender. any Funds held by Lendzr ~t the time of aPplication as a credit against the sums secured 'oy ini~ _.iuri~a~c. - 3. Application of Payments. l7nless applicable law pravides otherwise, all payments received by Le~der under t~e Note and paragraphs 1 and 2 htreof shall be applied by I.cnder first in payment of amounis payable to Lender by Borrower under parag~ap~ 2 hereof. then to iaterest payable on thr ;~ote, then to the principal of the Note, and then to interest and principal on any Future Advances. -t. Charges; Liens. Borrower shall pay all ta~es, asscssments and other chargz~, fines and impositions attributable to the Proptrcy which may attain a priority over this ~iar:gagc, arsd t:asc:ho!d payments or gr~tmd rents, if any, in the manner provided undtr paragraph 2 hereof or, if ~ot paic! ir~ such manner, by Borrower making pa}~ment, when due.. directly to the payee thereof. Borrower shall promptly furnish to I.ender all notices of amounts due under this paragraph. and in the eveot Borro~er shall make payment directly. Borrower shall promptly furnish to Lender receipts evidzncing such paymenu. Borrower shall promptl~ discharge any lien which has priority over this ~lortgage: provided, ihat Borrower shal! not be rcquired to discharge any such lien so long as Borrower shall agree in Writing to the pa~ment of the obligation secured by such lien in a manner acceptable to Lender, or shall in good faith contest 3uch lien by, or defend enforcement of such lien in. legal proceedings which operate to prevent the enfurcement of the lien or forfeiture of the Property or any part thereof. 5. Hazard Insurance. Borrower shall keep the improvements now exicti~g or hereafter erected ort the Property insu~ed against loss by fire, hazards included within the trrm "extended coveragz and such other hazards as Lender may require and in such amounu and for such periods as Lender may require; provided, that I.ender shall not require that the amount of such covzrage exceed that amount of :overage required to pay the sums secured by this ~tortgage. The insurance carritr providing the insurance shall be chosen by Borrower subject to approval by Lender, provided, t6at such approval shail not be unre~onably withheld. All premiums on insurance policies shall be paid in the manner provided under paragraph 2 hereof or. if not paid in such manner, by Borrowor making payment, when due, directly to the insurance carricr. All insurance policies and renewals thereof shall be in form acceptabte to Lender and shall inciude a standard mortgage , ciause in favor of and in form acceptable to L.ender, I.ender sha!! have the rig6t to hold the policies and renewals thereof. and Borrower shall proroptly furnish to Leoder all renewal notices and all receipts of paid premiums. In the event of loss, Borrou•er shalt give prompt notice to the insurance carrier and Lender. Lender may make proof oE loss if not made promptly 6y Borrower. Unless Lender and Borrower otherwi;e agree irt uriting, insurance proceeds shall be applied to restoration or repair of the Property damaged, provided such restoration or repair is econ~mically feasiblz and the security of this Mortgage is not ~nereb~- impaired. If such restoration or repair is not economically feasihle or if the security of this Mortgage would be impair:d, the insurance proceeds shall bg applied to the sums secure~! by this Mortgage, weth the etcess. if any, paid to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date notice is mailed by l,ender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, I.ender - is authorized to collect and apply the insurance proceeds at Lender's option either to r~.storation or repair of the Propetty or to tne sums secured by this ~fortgage. Unless Lender and Borrow•er otherwise agree in writing, any such application of proceeds to principal shalt not extend or po~tp~ne the due date of the monthly installments referred to in paragrapns i and ~ nrrcvi c~aa~~ :h~ a^:~s ::~of such installments. If under paragraph 18 hereof the Property is acquired by Lender. all right, title and interest of Borrower in and to any insurance policies and in and to the proceecis thereof resulting from damage to the Property prior to the sale or acquisition shall pass to Lender to the extent of the sums secur~i by this ~iartgage immediately prior to such sale or acquisition. _ 6. Presen•ation and ~faintenance of Property; Leasrholds; Condaminiums; Planned Unit De~•eiopments. $orrower ~ shatl keep the Property in boed repair and shatl not commit waste or permit impsirment or deterioration of ihe Property and shall comply with the provisions of any lease if this I~lortgage is on a leasehotd. lf this ~iortgage is on a unit in a condominium or a planned unit development, Borrower shall perform atf of Borrowers obligations under the declaration or c~~veaants creating or governing the condominium or planned unit development, the by-laws and regulations of the cor..lornini~m or planned unit de~•elopment, and constituent docurr~ents. If a condominiu~n or planned unit development rider i. executed by Borrow•er and recorded together with this J~lortgage, the covenants and agreements of such rider shall be incorporated into and shall amend a~d supplement the covenants anJ agreements of this A4artgage as if the rider w•ere a part hereof. 7. Protection oE Lende~'s Security. If Borr~wer fails to perform the covenants and agreements contained in this Mortgagt, or if any action or ptoceeding is commenced which materia!!y atiects Lender's inierest in the Properly, includ~ng, but not limited to, eminent domain, insol~ency, code enforcemc~t, or arrangements or proceedings involying a ban~r~pt or decedent, then Lender at Lender's option, uEx~n notice to Borrower, may make such appearances, disburse such sums and t~i;e such action as is necessary to protect Lenders interest, including, but not timited to, disbursement oE rcasonablt attorney's fees and entry upon the Property to make repairs. If Lcnder required mortgage insurance as a coad~~ion of maS:ing ihe loan secured by this 1lfortgage, Borrower shall pay the prerr.iums required tn maintain such ins~ra~c~ in e~iect until such time as the requirement for such insura~ce trrminates in accordance with Borrower s aad G k 202 ?'A!:E U~U g:.CK