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Home My WebLink About0926 BoRO~rer and I1nd~ oovenant aad a~res e~ followr. l. Pqra~eat ot Ptlncipal aad Iatere~~ Borrower shall promptly pay when due the principal of aad iatse+srt oa t5e i~deiri~s ~id~ooed b~? tb~ Note. PnPaytaeat sn@ lete chu~es eu provided in the Note, snd the psincipal of and iaterest oa aay Fht~u+e Advaanr ~~owi b!? th» Yo~fi~iR - mootht~ i~alt~nts otpcincip~l and intere+t ~u~e PeYabk uade~ the Note. unW We Note u paid in fu11. a wm l~arein "Ptiods") ~a1 t~a~s twetAl~ ot tbe yesrl~r ta:e~ and a~easments which may attai~ priority over thia MortQa~e. and Qrouad r~tts on tbe Propat~. ifaq~?. ~se~ twdlth dyearix premium iuatallments for hazard insurance. plus onatwellth ofyear~jr premium installme~4 fo~ mortta~eiaAramc,~.itaq~ a!i a~ rea~ooab~jr estimated 'uutielly and [soao time to time by Lend~ on the basis of a~seesment~ and biW aad re~saaabk e~timats t~srt • Tbi P1md~ abal! ba held in aa in~titution the depo~ita or aaaounts o! Mrhich ars inrared or ~uaraateed by a Fedard or 8t~e ~¦s~ C~nc~ns Lmder if I~ade~ is sacb en institutioa~ I.end~ ~haU aPP~Y the Fbnds to pqy said tases. as~menta. in~oranoe pesi~s a¦i po~nd ra~d. Iwnd~ may not cba~e fa so hoWin~ and epplying the Ftinda. analyzing said aa~onnt~ or verifjrin~ and oo~p7i~ aii aria~m~nts aod hi1L. nnla~ Leudes pa~r~ Borrower int~est oa the PLnds and appGcable law permits Lei?de: b mak~aoch a cha~e. Ban~~er aod Iender myr a jre~ ia writin~ at the time of e:ecution of this Mortgage tbat iaterest oa the ~nds shall be paid b BaeowQ aea aies web a~t i~ m~de or applicabk law requiree suc6 iAterest to be paid. Lender shall aot bs required eo Pa7 Boerow~a au~r ie~sa~t ar earaity~s oa tbe F~nds. Lwder shaU give to Borrower. without charQe. an annual aooounting of the Pbads ahowin~ aedita md detii~s i~ ~e Ftind~ aud tbe parpws for which each debit tu the I~nd~ wes made. l~e Fnads are pledged as additional ~scnrity for the s~s ~ecarei ~pttiis ~ ~ . . If tt~ amoont of the Ptiunds held by Lender~together with the futun moAth~y iastellments of Fnnds payabie priar to the dreda~s ~fsa~e~ are~eab. ins~anoe premiums and ground renfa. shall ~oaed the amoant required to pqy said ia~ces. assarment~. inwraeoep~~ aad ~omd reats sa Way fall due. such e:oaw shaU be, at Bonow~ s option, either pmmP~Y ~P~d to Borrow~r or ~ to Honvw~a4 moothip iniWlmenb at P~nd~. If We amount of We F~nd~ held by Leader ahall not be su~ficient to Pay tues. as~es~ iua~ce peemi~s aod ~roand e+mc. as Wey fall due, Borrower shall pay co Lende~ any amounc neceesary co make up tbe de6c~.y witbia ~DL~s feom the date aotioe is mailed bY I.enda to Botrower requesting paytnent thereaf. Uvon pa~rme~~ in tnU of all su~s eecured by thie MortBage. Lender shsll prompdy refund to Bor[ower any funds ~eld by Leod~ H~i~ parageap~ 18 beeeof t6e Prope:ty is eold or the Praperty is otherwise acquired by Lender. I.ender ahall apply. no lat~r tban imme~aaae~lo~r ~~RProperty or its aoquisition by Leader, any F~nds held by I.ender at the time of appGcation as a c:edit sgain~ ti~es_s se~ai 3. Appljadon ot Paymenta. Unleas applicable law pmvides otherwise. aU payments reoeived by~ Ie.nder ~nder tbe Ale~e ai paratraphs 1 and 2 hereof ahaU be applied by Lender 5rst in payment of amounta p~yable to Lencter by Borrowe~ aadQ p~araar~ph Y ieia~ ti~m to iaLered pqyabk on the Note. then to the principal of the Note. and t1?en to interaet and principal on any Futaee Advaoaea 4- C6aKer, I.ieaa. Borrower ahall pay all t~es. esaesaments and other c}eargea. fines and impositions attribntable to the Pf a~aty w~iai may aaain a prioriiy ovec ~his Mort~sga and leasehold paymencs or ground ren~a. ifany, ia the manner provided ander pan~rapb 2~s~dar, if not paid "m soc6 manner. by Botrower maicing payu~eat, when due, directly to the payee thereof. Borrower ahall p~tiy f~~s Isi~ all notias ot amoanta dne nnder thia Pa*aBrePh, and in the eveat Borrower ahal) make payment directlY. Borrower shall praao~t}y #mmi~M Lender reoeipts evideadng snch payments. Boreower ahall pranptly discharge any lien which has ~iority mrer this p~w~8ed,ti~ Bo~mwQ shall nd be reqaired b diecharge any such lien ao long as Borrow~ ahall agree in writing to the paymentof tbe oWiaatian aec~ea ls meh 6m in a mannet aooeptabk to I,ender, or ahall in good faith oontest. such lien by, or defend enforcEment of syd? liea ia, Iq~al ~aooeeai~ whicli operate to pteveat the enforoement oj the lien or forfeiture of the Property or any part thereof. 5,. H~ard Inaaranoe. Borrower ahall keep the impmvements now e:i,sting or hereaRer ererted oa tbe PmQe~ty insmed a~t le~s iy fie~ harards indaded within the term "~teaded ooverage." and auch other hazards as I.ender may requin and in wch aa~o~s ~d ia~r~a period~ as I.ende: m~y reqnin; provided, that Lender ahaU not require such ooverage amount ezceeding tLe minimnm, aa may berreq~,ed~ state or federal eegulations goveraing activitiea of Lender, or that amount of ooverage required to pay the sums sec~+ed b;~ tbu I~farlp~~e, whic2~e~a is the geeater. . 'Ibe inwraaoe carrie~ providing the inaurance shall be choeen by Bomywer subject to approval by i.ender; pciovided, that s~L ap~vral ahall aot be nnreasonably withheld. All preminms on insurance policies ehall be paid in the manner provided under paragraph 2 he~eode, f eot paid in such manner, by f3orrower making payment. when due, directly to the insurance carrier. All insuranoe policiea and renewals thezeof shall be in toran acoeptable to Lendec and ahall inclnde a stsndard mortgage cLo~eia fa~l a~ in farm sooeptabk to I.ender. Lend~ shall have the right to hold the policiee and renewala thereo~ and Borro~ver shaD peompdy f~a~ iernder pll eenewal notioes and all reoeipta of paid premiuma In the event of loss, Borrower shall give prompt notice to tbe i~ae ~ and I.ender. I.ender may mai~e p~roof of loea if noi made prompdy by Borrowa. Unler teader and Borrowe~r othervvise agree in writing, ina~rance p~s ehall be applied to restoration ar repa~ af !~r Plap~eety j dama~ed, peovided such reetoration or npair is econocnically feaaible and the security of this Mortgage is not thenby impairei. N sod~ . ; ee~toration a~r rspair is not eoonomicaqy feaaible or if the eecurity of thia Mortgege would be impaired, the inaaranoe prooeeds aL:11 i~ea~ed ~ i to tbe ~~ecoced by this MortBage. with the e~ioeea. if anY. Paid to Borrower. If the Property ia abandoned by Boaower, or dBo~ro~wQfdsi~ ~ ee~pood to Leader within 30 days fmm the date notice is mailed by Lender to Borrower that the inauranae canier offas to ~ettie i~3a~ #t . insQanoe benefita. I~nde~ ia anthorized to oollect and apply the inaurance proceeda at Lender'a option dthet b e~esta~ation ar ~eg~ir ds~r Peopaty er tbe sum~ ~ecared by this Mortgage. ' ~ Unle~s Lender and Boreowrer other~rise agree in writing. any euch application otprooeede to principal ahall notatmd arpo~lpae~et~~e dste ot tbe montbly instaliments referred to in paragraphe 1 and 2 hereof or change the amoant of aach insWlmmts. If aader paia~r~i 1~ 6~rai the Propety is aoqnired by I.enda. all righ~ titk and interest of Borrower in and to any inanranae polii~s and in and t+o tbe gooee3s tbei~of rewitu~ 6om deeoage to Propaty prior to the sale or aoquisition ahaU p~es to I.ender to the ate~t of th~ s~s a~ec~d b31~is ~iortas~e immediately vrsor to snch sale or acquisition. 6- Pre~enatioa ~od l[sintenance of Properti?: I.easebold~; Condominunps; Ptanned Unit Developments. Bac:ow~al~ii~ tbe Propaty in `ood npair and-shall not commit weate or permit impairment or deterioration of the Property and ahall oooe,piy x~ sie ~ p~o~aio~ d any kese if thia Mortgage ia on a leasehold. If this Mortgage ia on a unit in s oondominium or a planned anit deYeisp~, ~ Baet~ower a6aU patorm ap oi Borrower's obligations nnder the declaration or rnvenanb creatingor gove:ning t6e ~oo8ommi~ ar ~ia~d ~it de~relop~ment, tbe by-lawa and regulations of the condominium or planned unit developmeat~ and oonstitoeod doc~eetia. g a eoodominiam or planned unit devebpment rider is r~ecvfed by Borrower end recorded together wnth this IKo~t;a~e. tbe m~ma~ts ai ~ments of a6ch rider ahall be incoTporated into and ehall amend and aupplement the covenants aad agreements of this f~Iart6a,~easiil~e rider wae a part haeo! _ Pt~oteetion ot Lender'~ Secarii~. Ii Borrowe~ fails to p~tarm the oovenaats and agreements oontained in this aetion or p~ooeedin~ i~ oommeaced which maf~eriall affects Leade~e intere~t in the Pro . Y Pa'~Y. ~~~5. bat not limited tu. e~mt ~~i. i~ohe~ae~. oode eafot~oemeat~ or arran~emmb or prooeedin~ inwiving a banlm~pt or deoedea~ then I.eoder rt I.eods's apli~~~ - m~tioe to Ba~row~ map make snch appeacaaoe~. d1lb11T/! ~IICh ~i1R1s Ana ~BjC! fYC~l HCZIOR 8/ 1~ Aeoe~aey to pe+otect I.mds's ~s~. ~ u~ns. bot not l~ited to. disbnrse~neat of reawnable attoraey's fees end entry npon the Property to mal~e t~aa~. If Isad~ ~ai ~ ma~a~e i~anoe as a oondition of ma~ing tl~e loan secnred by this Mortgag~ Hormwer shall psp tbe premium~ ~~ied ~ ~ weh i~anoe in e~ed natil sach time as the reqninment for ~nch inaaraaae terminates in aooaedau~e witb Barrowds ssi I~ead~ wr~o a~e~f a aDDlf~able Lww. Borrower ~hall PaY the amount of all ~rtgage iaauranoe preminms in tLe manner pevPidea a~i~ ~ paratrapb 2 bee~ed - . _ . Aq~ amoont~ di~bnraed by Leade: persaant to this paragraph 7. with interest tha~on. shall beoome ad~itiond 'mae~Les ~t ~ Boero~w~ ~ecotad b~ tbia Mortgaga Unlew Borrower and Lender agree to other term~ of Pe?Ymeat~ auch amoant~ ahaII be ~y~Lie ~ notioe 6um I~ndes to Bare~ower e's9~~e PeY~c Wereol. and ihall bear iatrebst from the date of di~bnne~eat at tbe rate p~11ef~ ~ time ~o time o0 oet~tandinq principal under the Note nnlw paymait af intere~t at such rate wonld be oontrarp to appiinbie Lsr, m n1i~ enat we~ ~moaat~ shall bear intere~t at tbe hi~he~t rate permis~ible und~ applicable law. Notbing oo~taiaed in f~s par~prepi 7. ~i req~e I.eader to incnr any d[pave or ta1[e any actiob hereunder. ~ ~ . _ ~ 8~~289 915 ~ _ . - ' r. . ~ y ~ _ _ . .a._. - .:sv ~ 1.~r-- ~~a _ - ~ .c=. _ -