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Home My WebLink About0830 ~ 4 . Ut+~~~ Cov~,i~trrs. Borrower and l~~Je~ c.,vcaant and agrce as foli.~ws~ 1. tij'~e~t ~I hi~ciNl aN Wcrest. lkun•v?~et ~hall prompd) F+aY when due the principai of and interest on the u'~dcbtednen eY~denoed b~r tbe Note, prepay~nrnt an.i late chargr. a. ~uuvidcd ~n the Nc~tc. and the principsi of and intercst _-ew ~.~t~8~8,c 2. F1ri tK Ta~et s~i awRarcY, S1/b~~'C~ f0 i~I1lJhIC I~M ~~t !O i Mflitt0 Wa1Vt~ by l.ender. ~BorTOwer shal'1 payv^~~_ to Lt~der oa ~he day montAl~?.i~stallmenls ot pnrniprl and ~nt~-rr.~ .,rc p~rahk un~ler the Note, uotil ~he Note is paid in tull. ~ wm (Iretein "Fund~'~ equal to one-lwclfth ot the yearl~ anJ utitssments v?hich may attain p~iority~ ove~ this Matp~. and ~ramd tents on ~he Pt~npeny, if any. ~lus cx~c-t~ttfth M yearty prcmtum instapmcnts for hazard insurance. P~us o~~wtlhb of Ytarty prcmiutn instapmenis tor mortgage ~nsi~rance, ~f aoy, all ac reau?nably estima~ed initially anJ from bme W time bq Lende~ ou the basis of a~ses~ounts an~1 h~lls r~xi rcau~nable atimatts thereoL • 7Ue Funds sha11 be beld in an i~u~itutiro ihc depc?at. or ~cccwots ot which art insured or auarantted by a Fede~al or stale s~e~cy (enchd~~~ l.a~de~ if Lcnder is auch an inst~tut~on 1. I.ender ahal! apply the Funds to pay ~id ~azes, asxssme~ts. iasuranoe premiums and srcwnd rcnts. I toder mav ncu charge tor u~ hnlding and ap~+lying !he Rundc. analy~ing wid aceount. ~ «"~*~EI'~~t ~~P~~t ~~S~nts and bilh, unleis t_ender p~a~s B.xrower interest on the Funds and appticable taw pem~its I.endet to makt such a charga 8orrower and I~nJer may agree in writing at the time of execulion of this Mortp~e that enterest on the Fw~ds shall he paid to Fbrrower, and- unkss such agreement is made or applicable law requirts_such it~terest to be paid~ l.ender shall not be rrquircd to pa} Bo~rov?cr am• intecsst or carnings on tht Funds. l.e~er s6all pve to Borrawer, witbout charge, an atenwl accoun.t~na of the Funds showing credits and debits ta the Funds and the purpost tor w~hich tacb dt6it to tbe Funds wa~ made_ T'he ~unda a~e pk-~lged as additional secwity fo~ ~he sums secured by t~s Mortp~e. It Ure aa~ouM o[ t!K Funds t~eW by L,eixier, togethe~ with the futurc monthly installments of Funds payable prior to We due dates of w[es. assasmtats. ins~uance premiums and ground rents, shait exceecf the amount required io pay aa~d taxa. s~axs. inuuanae prerniua~s and groued renis as they taU duc, such excess shall be, at Horrov?er s oplion, either promptl~? repaid w Sormwer or credited to Botrovrer on monthly ~nstaltments ot Fu~ds. !f the amount of the Funds 6dd 6~ l.eoder shall aot be w~cimt to ~ty tues, zs,sessm~nts, insurance prem~ums anJ ground rents u they fatt due, . Boitrwrer t6atl paY to L~eader any amount necessary to make up dx deficicncy within 30 days irom the date notice is mailed br l.eader to Borrv+ra nquatin8 WYmcnt there~t. . Upon Qapmeat in fuU of all swns socured by th~s Mort~tage, Lender shall promptly rcfund to Borrower any Funcis 6dd bq I.eader. !f unda paraacaph 18 hercof the Property sold or ~he Propeny u aherwise acquired by Lender, Lenckr s6ati spply ~o luer tt~an imaediatel~c prior to the sak of the Propeny or its acquis,tion by Lender, any Funds hrld by I.eader at tbe time of applicatian as a credit aga~nst th~ sums socured by th~s illortgage. 3- A~ieatir d tq~e~ls. Unless applicabk law pro.~ida otherNise, aR payments received by Lender unJer the Note aod puaaraphs I and 2 hereof shall be appl~ed by [.coder first ~n payment of amounts payabte to Lcnder by Barrower uader paraacaph 2 6e~oof, then to interest payabk on the tiote, then to tl~c principa! af ~he Note, and then to interest and P~~P~ on any Fu[ure Advanoes. C1u~efi Ije~s. Borrawer shail pay all tates. :ssessments and cxber charges. fines and impositions attributable to • tbe Prope~ty~.~hich msy attain a pnoriry over this Mortgage. and ka;ehold paymenu or ground rents, if any. in the manatr pio~idod un~er p~raQaph 2 btrrof or, if not paid in wch manner, by 8orrower making payment, whpi due, direrUy to the W7'a Borra+rrr shaU promptly furnish to Leader ajl ratices of amounts due under this paragraph, aad io the ev~nt Borroarer shall maice payment diroctly,.Borrower shaU promptly fumish to Lrnder receipts evidencing such payments. ~ Borro+n~r shiU pramptly discharge any ~ien which hu pnonty ovrr ~his Martgage; provided. that 8orrower shaU not be requirad to d,sc6arge anr wch lien so kxrg u Borrow+er shall agret in ..riting to the payment of t6e obligation securcd by wcb 6ea in a manaer sooept~bk to l.ender, or shall in good faith contcv wch lien by, or defend enfor~ement of such lien in, ~ kaal procoedinas which operate to prcveat the enforcement of the~l~co or forfeiturc of tfie Property or any part theroof. - S- Harari lawssee. Borrower shall koep the impro.•emc~ts r?czw~ e~istinE or hereafter erected on the Properir iqsuted a~aimt taas b~r fue. hazar~ds inciuded with~n the term "extended coverage", and such other hazsrds as Leader may rcquire and in sucb amounts and for sucfi periods u Lender may requirc; provid~d, that Lender shall not roquirc that the amount of such ~ovaaae e~eeed that amount ~f co.Yrage cequired to pay the sums secured by this Mortgage. The insuraace ourier providing the inwranoc shall be chosen by Borrower subject to approval by Lender. provided, ~ s~ iPP~+'~ ~1 ~~~~nably withheJd. Al! premiums on insurance policies sha11 be paid in the manner p~ri +d u~oder para;raph 2 bereof or, if not paid in such manner, by Borrower making payment, when due, dircctly to the ~+~raoce carticr. . M msurance poticia and rcne~?~ah thereof shall be in forn~ acceptabk to Lender and s6all include a standard mortgage clwse in favor of and in form xcxptabk to Lender. Lendcr shall have the right to hold the policies and renewals thereof. and Bornnv~+er shall pranptly furnis6 to Lendcr all renew•al noaces and all receipts of paid prcmiums. In the event of loss. Borrower shall pve ptompt notice to the insurance camer and Lendtr. Lender may make ptoof of loss if not madc prompdy bY Bor~+o~ra- - Uo1as Laider aod Botrovvtr othen+~ise agree in wnt~ng, insurance proceeds shall be applied to resioration or repair of the Proputq dama~ed. provided such restorat~on or repair is ecorwmically feasible and the security oE this Mortgage is not theteby impa~red. 1[ wch rcstoration or rcpa.ir is not econamical!} feasibk or if the securiry of this Mortgage would be impairod. tbe iruunnoe proc~eds sh~ll b~ app)ied to thc sums secered by this Mortgage, with the excess, if any, paid !o Borm+rer_ !f the Propert?• is abandonod by Borrawer, o~ if Borrower fails to respond to Ixnde~ within 30 days from the date notiot is mailed by Leudet to Borrotivcr that the msurence carrier ofiers to settfe a claim for insurance bene6u, L.ender ~ is aut6onwd to aolloct and apply the insurance prooeeds at Lender's opt~un either to restoration or repa~r of the Propem• or w tLe sums secured by this ~tifortgage. . Unkss Lender and Bor:ovrer otherv4ix agree in writing, any such application of pra:eeds to prineipal shall not extend or postpax the due date of the monthl~ installments- referred to in parag~aphc I anJ 2 hereof or change the amount of sech inuaAmeats_ If under puagrap6 t8 Ixreof tl~e Property is acyu~rod 6y l~eadcr, all right, titk and interest of Borrowcr in ud to any inwrance policia and in and to the proceeds thereof resulung from damage to t6e Propeny prior to th~: sale or zoqu~isition shali poss to Lender to the a~tent of the sums sacured b~ this ~iortgage immediately prior to such sale or aWuisitioa- hesenatioo a~ 1?ta~tenasce of Property; [.esse6otds; Coadomioiam~ Planaed liait Devebpments. Borrowcr shali keap the Property in good repai~ and shsl! not commit xastc or permit impairment or detzrioration of the Propetty wd sball complp witt~ the provisions of any kase if this ~tortgage is on a ieasehold_ If this Mortgage is on a unit in a coodominium or a planrxd unit dcvelopment, Borrower shall perform all of Borrower's obligations under the declaration or coveaants cseatius or gov~rrung tfie condommium or planned unit development, the by-laws and regulations of the coodominium or plattned unit dtvdopment, and comtituent documems. I( a condominium or planned unit Jevelopment ~ nd~ is e.uocutod by Borrower and recorded together v?ith th~s I?tortgage, the covenants and agreements of such rider shall be incorpocatod into and shall auxnd and supplcment the oo.enants and agreements of th~s Mortgage as if the rider were a part l~ere+of. 7. tnlectio~ at [.e~dePs Secdriry. If &,~row•et fa~l~ to perform Ihe covenants anJ agreements contained in this btortaaae. or if aar xtion or proceed~ng ~s commenced wh~ch ma~erially aRects Lender's interest in the Propeny, iocluduts, b~t not lin~~tod to. emenent domain. insolvency, code entorcement, or arrangements or proceedings invoh•ing a b~okrupt or docodent, then Leode~ at Leoder's op~e~n, upon notice to Borrower, may make such appearances, disburx such ~ wms aad take such actioo zs is nac~ssary~ w prntect Ltnder s~merest, including, but not lim~ted to. disbuFSement of rrasooabk sttome~is fte.t and mtry upon the Propeny to make repairs. Lender reyuircd m~rtgage insurance as a oooditioo of ~nE thc loan secured by this Mortgage. Bc~rruwrr shal) pay the premiums reyuired lo maintain such iawnaoe in eHoct until such time u tlx rcquirer~n~ (or wch insw-ance terminates m accordance evith Borrower's and ~ ~ ° 289 P~~E 8~1 su~~K ~==i'-"~'~-p r ~ ~ - - - . ~'i.en . 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