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Home My WebLink About0089 '....i ~ • 8ore~ow~ and I.ender coveaant aad a~roe as folloNn: 1. P~~?meat ot Peiacipal ~nd Intere~t. Borrower shall promptly pay whea due the principsl of aad intered oa the indebtedn~ evideaced by the Note, prepqyment and late char~e~ ea provided in t1?e Note, and the priadpal of and intere~t on any Ftiture Advancas sacured by tbi~ b~orf~a~a 2. PLnd~ for T~ses and Inwraaoe. 3ubjed b applicable law or to e written waivet by Lender. Bormwer ahall pay to Lender on the dqy monthly instellments of prindpal and interest are payable under the Note, until the Note is paid in full. a sum (henin "Pti~nda'7 equal to a~s twelRh of the yearly tazes aad aaseeaments which may attain priority over this Mortgage, and around renta oa the Propecty. i[aay. plw oa~ twelRh of yearly pre~aium installments for har,ard insurance. plw onstwelfth ofyoarly pnmium in~tallments for mortga~ee inaurance, if any. aU aa nasonably catimated initially and from time to time by Lender ob the baeia of assessmenes and bilb and reawnable estuuates thereoi 7Le P~nds shall be heW in an institutioa the depo~ita or aocouat~ of which are uuured or ~uaranteed by a Federal or State agency (inch~din~ Lender if Lender is ~uch u? institution~ Lender shail apply the Pbnda to pay said tazes. assesamenb, insuranoe premiucns and Qeuuad rents. Leades ms~y not cher~e for w holding and applyins the Fundi. analysin~ said aocoun~. or veri(yinQ and oompilin~ said esseaments and biUs, unlea I.eader pays Borrower interest on the F~nds aad applicable law permite Lender to make auch a charge. Borrowar and Lende~r rnsy a~ree in writing at ths time of esecution of thia Mortgage that ineerest on the F1nds shall be paid b Bor~ower. and unlea ~uch agreemeat is me~de os applicable l~w requires euch intered to be paid. Lendar shaU not be required to pe~y Borrower any intere~t or easnin~s on the Phnds. Lende: ahall give to Bonower. w+ithont charge. un annusl aooounqng of the Funds ahowing credits and,debib to the P~nds and the parpose for which each debit to the Pbnds was made.'I1~s fl?nds are pledged sa additional security for the sums secured by thii Mortgage. . If the amount of the Pbada held by I.ender. together with the future moathly inatallmenta of Funda payable prior to the due dates of taze~. a~ses~anents. ina~uance premiuma and ground rents. a6a11 exoaed ihe amount requieed to pay eaid tazes. aasessmeata. insurance premiu~as snd ground rents as they fe~ll dne, snch esoe~s ahall be. at Boisowei s option, eiWer pmmpt~y repaid to Bormwer or credited to Borrower on monthly in~tallmeata of PLnds. If the amount of We Ptinds held by Leader shall not be sufficient b pay tezes. aasessmenta. iasurenca _ pnmiums and ground rents as Way fall dae, Borrower shaU pay to Lender any amow~t necessary to mal~e up the deficiency within 30 deys from the date nobioe is meiled by Lender to Borrowez requestin8 Payment the:eof. Upon payment in full of all sums secund by thia Mortgage. Lender shall promptly refund to Borrower any funda held by I.endes. If under paragraph 18 hereof the Property ie sold or the Propeuty is otherwise acquind by I.end~. I.ender shall apply. no later then immediately prior to the sale of the Propesty ~ ifa aoquisition by Lender. any I~nda held by Lender at the time of application as a credit a~ainat the suma eecared by d,ia Morfgaga 3.,Applk:ation of Payments. Ualess applicable law provides otherwise. all paymenta received by I.ender under the Note and paragraphs 1 and 2 heteof shall be applied by Lender first in payment of amounts payable to I,ender by Borrower under paragraph 2 hereof. then to interest pe~yable on the Note. then to the ~inapal of We Note. aad then to intereat and principal on any Eltnre Advancea. 4. Charges; Liens. Borrower ahall pay all tases, aaee8ements and other chargea, finea and impoeitions ettributable to We Property which may attain a priority over thia Mortgage. and lessehold payments or ground rents, if any. in the manner provided under paragraph 2 hereof or. if not paid in auch mannet. by Borrower making payment, when due, direcily to the payee thereof. Bormwer ehall pminptly furnish to Lender all notioes of emounts due undrr this paragiraph, aad in the event Borrower shall make paymeat directly. Borrower ahall pmmptly furnish to I.ender reoeipts evidencing such paymenfa. Bosrower ahall promptlY dieche?rSe any li~ which has priority over this Mortgag~ Pmvided, that Borrowa shaU not be required to discharge any auch liea eo long as Borrower shall agree in writinB to the payment of the oblig~tion secured by auch lien in a manne~ aoceptable to I.ender. or.shall in good faith conteet such lien by. or defend enforcement of such lien it~, l~gal~raceedings which operate to prevent the ~forcement of the lien or forfeiture of the Propaty or sny part thereof. ' b. Hazard Insuranoe. Borrower shall keep the impmvements now e:ietiag or hereaiter ezected on the Prope=ty insared agalnet loss by fire, hazards included vvithin the te:m "extended rnverage." aad auch other hazards ae Lender may require and in auch amonnte and for such periods as Leadez may require; provided. that L.ender ahall not require auch ooverage amount e:ceeding fhe minienum, aa may be required by state or federal regulationa governing adivitiea of I.ender. or that amouat of coverage reqaired to pay tne~ aume secured by th5e Mortgage, whichever ie We greater. 17~e insurance carrier providing the insurance ahall be chosen by Borrower aubject to approval by I.rnder; provided, that euch approvel shalf not be unreasonably withhetd. All premiuma on insurance policies ahall be paid in the manner provided under paragraph 2 hereof or, if not paid in auch manner, by Borrower makiag payment, when due, directly to the inauranoe caTrier_ All ineurance policies and renewala th~eof shall be iu form aoceptable to Lender and shell include a standard mortgage claase in favor of aad in fosm acceptable b Lender. I.ender ahall have the right to hold the policies and renewale thereof, and Borrower ahall promptly fumieh to i.ender all reaewal notioes and all receipta of paid preaninma In the event of loea. Borrower ahaU give prompt notice to the inaurence carrier and L.ender. I.endez may make proof of loss if not made pmmpdy by Borrower. Unlees I.ender and Borrower otherwise agree in ~vriting, ineuranae proceeds ehall be applied to restoration or repair of the Property ~ dameged, p~ovided such r~toration or repair is economically feaeible aad We secnrity of thia Mortgage is not thereby impaired. If auch ~ reatotation ar repair is not eoonomically feasible or if the security of this Mortgage would be impaired, the inaurance proceede shall be applied ~ to the anma eecnred by thia Mortgage. with the e:cess, if any. p~aid tfl Borroa+er. If tbe Property is abandoned by Borrower~ or if Borrower faile to , reapond to I.ender within 30 days from the date ndice ie mailed by Lender to Borrower that the inanrance carrier offera to sett]e a claimtor ~ inanrance benefits. Lender is anthorized to oollect and apply the insurance pmceede at Iende~s option either to restoration or repair of the Prop~ty or tbe sums secured by thia Mortgage. Unleea I,ender and Borrower otherwise agree in wr:ting, any euch application of pmceeds to ptiacipal shall not estend or poetpone We dne date of the monthly installmente referred to in paragraphs 1 and 2 hereof or change We amount of auch inatallmente. If under paragraph 18 hereof the Property is aoqnired by Lender. all right, title and interest of Borrower in and to any ineuranoe policies and in and to the pmoeeda theteof reanlting 5rom damege to Propaty prior to tbe aale or acquiaition ehall pase tu Lender to the e:tent of the sums secured by thie - Moitgage immediately prior to such sale or aoqnisition 6. Pr~ervation and Msintenance of Property; Leaseholds; Condominums; Planned Unit Developments. Borrow~ ahall keep the Property ui good r8pair and shall not oommit waste or permit impairment or deterioration of the Properfy and ahall comply with the provisions of aay leaee if thie Mortgage is on a leaeehold. lf this Mortgage is on a nnit in s oondominium or a planned unit development, Borroaer shall perform all of Borrower's obligations ander the declaration or covenante creatin8or govezning the oondomininm or plenned nnit development, the by-laws and reguletions of the oondomininm or planned anit development, and oonatituent docnments. If a ooadomininm or planned unit development ride~r ia ezecnted by Borrower and recorded together ~rith thia 1liortgage. the aovenants and egreemente of auch rider ahall be incorporated into and shall amend and aupplement the oovenante and agreemente of this MorEgage as if the rider were a part hereof. 7. Protedion of Lender'~ Se~auit~. If Borrower faila to paform the oovenanta snd agreeme~nts oontained ia dus MortgaQe. or if any actiori or pcooeeding is co~nnenoed whid~ mataiallY affeda I.e~de~a interest in the Prope~rty. inclading. bnt not limited to. emineat domain, in~olvmcy. oode eaforoemeak vr arrangements o= prooeedin~s involvin~ a banlm~pt or deoedeak the~ I.ender at I.endds option,npon ` natioe to Bo~rower may make ~nch appearanoes. diabnr~e such aam~ end take wcb action as i~ aeoe~sary to proted Lez~der's interest, ~ indoding, bat not limited Lo, diibnr~ement of rewonable attorney's fees and mtry npon the Property to make repairs. If I.ender reqnired ~ mortBage insnranoe a~ a oondition of malring the loan secared bq this Ma~rtgege, Borrower shall pay t~e preminmr requind to maintsin ~ sacb.insnranoe in effed until ~nch time a~ the reqnirement for snch inearanae t~minates in aooordanoe aith Borrower's and Leadd~ ~ writtea agreement os applicabk Ls~r. Borruwer ~hall paY the amonnt af all mortgage inaurance preminms in the manner provided nnder ~ para~raph 2 baeot. Any amoants disbnrsed by I.enda persnant to this paragraph with interest thereon, shall beoome additional indebtedness of Borrower ~ecand by this Mortgage. Unleas Borrowa aad Lend~ agree to otha terms of payment, snch amounb ehall be payable npon notioe t~rom I.~der to Bon+ower reqnesting paymwt thereo~ and shall bear intere~t from the date of disbursement at tbe rate payable finm ~ time to time on oats;anding principel nnder We Note anlees payment of interest at sach rate wonld be oontrary to applicable law, in which ev~t snch amounts ehall bear inisrest at the highest rate permisrible nnder applicable law. Nothing oontained ia t~if,p~pgraph 7, ahall . reqnire I.ender to incnr any eipense or teke any action haeunder. ~ ~ ~ . 8~ 287 ~ ~ ~ - - - - _ ~ ~ ~ A. _ -