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Home My WebLink About0930 + y 's t t t i Borrower aad Lead~r cov~nent ind asese a~ folbvra: t 1. Pq?meni ot Priuotp~l aad IateresR Borrower ahall promptly pay ~vhen due ths principal of and intere~t oa the indebtodnea ~ ev~eaad by Ws Noa~ prep~y~t snd late cbar~a ~u provided in We Note. and the priacipel of and iatere~t on any I~tun AdvaACea secured ~ by thii Moet~a~e. , Pbad~ for T~e~ ~nd lawrwaos. 3ubject ~o appliesbk law or b a written waivet by Lender. Borrower ~hall pay w l.ead~ ort the day ~ mon ~ . . . . an~t~ereiir"f~u ~ twelRh of the yearly taua end as~essmenta which aA~y attain priority over shis Mort~eaQe, and ~rouad renta on the Propecty, if any. plus ona twelRh of yearly premiutn inatallraenta f~ hasard icuuranoe. plus onetweltth of yeerly pnaaium installmenes for mortga~e insurance, if any, ~ all a~ rea~onably e~timated initialky and imm titne to time by Lender oa the ba~is of assessmenta and bills and reaaonable estimates theroof. . 7Ui PLad~ ~hall bs held in an iaatitndon th~ d+posit~ or saconnt+~ of which are iiuured or Quaranteed by a Fedaal o: 3tate a~ency ~ (includin~ Ler,der it Lead~ is s~ch an in.atucion). I.and~ shall apply the Funds to pa4y said taxe~. as~e~ssaents. ineuranoe pnmiuma and ~ ~e~ouad trab. I.eader me~y not chargs fo~ ~o holdi~ and applyin~ We I~ads. aaalysing said aooount~ or vesifyinQ aad oompilin~ ~aid assa~~msnta and biW, unless Lander pey~ Borrower intue~st oa the Il~nd~ end applicable lsw permita Lender to make such a charge. Bore+ower 't aad I.ender may s~ree ia writin~ at the tia~e of esecntion of this Mortgage that interest on the fi~nd~ shaU be paid to Borrower, and anleea i .ncb ajreeme~,t i. made a~ apphcabk law require. wch incere.t ~o be paid, Lender.hell ao~ be cequired eo pay Borrower any intenec or ~ earnin~s on the P1tnd~. Letidez shall Qive b Borro~ver. ~rithont cbarge. an annual aooouating of the ~nds ahowing credits and debits to the ~ F~nd~ snd the purpose for which each debit to tbe F~ads was made.'14ie Funda are pledged as additional aecurity for the eum,s secured by this' ~ , t - If the amouat of the F~ads held by Lender, together with the fnture awathly installments of Funda payable prior to the due dates of ta:es. a~esaments. ins~ance pr~iums and ~t~onnd renta. ahall ~a~ed the amow~t required to pay raid tazes, asseeameats, inauranoe premiuuu end ~e+ennd r~ta as they fali due, such ezoees shall be. at Borrower'~ option..either prompdy repaid b Borrower or credited to Bo~rower on monthl,y instpllmeab of Fbnd~. V the amount of the Ftiads held by Lender shall not be sufRcient_to pay taxes, asaeaaments, ineurana precninma wnd ground r~t~ e~ they fall due. Borro~ror ahall pay b Lend~ any amouat neoessary to mai~e up tha deficiency within 30 days from t6e date aotioe is mailed by Lend~ to Borrowet rcquestin6 Payment thereof. Upon payment ia inil o~aU sua~s secnred by tbis Mortgage, Lender shall prompdy refund to Borrower any fnnda held by Lendee. If under paragraph 18 hereot We Property is sold or We Property ia otherwise aoquired by Lender, Leades ahall apply. no leter then immediately prior to the eak of the Property a~ ib aoquisition by Lender. any ~Lnds held by I.ender at the tune of spplication as a credit egainst the ewna secwed bY this Mortgage. ~ 3. Applkation of Paymenta. Udess applicable law provides otherwise. all payaneats received by Lender nnder the Note and • ~ par~grep}u 1 and 2 heteof ~hall be applied by L,ender first in pa~mnent of amounts payable to I.ender by Borrow~ under paragraph 2 hereof. then to intered payabie on the Nate. thea to the principal of We NQte. and then to inteiest aad principal on any Fliture Advances. ! 4. Chargea; Liens. Borrower shall pay ell ta:es, aseesamente and other charges. finee and impositions attributable to the Propsty which { may attain a priatity over this Mortgag~ and leaaeho~ paym~ta or ground renta. if any, in the inanner provided under paragraph 2 hereotor, ~ if not paid in snch manna. by Borrower making Qayment, whe~ due. directly to the payee thereof. Borrower shall promptly furniah to i.ender ` all notioes of ama~nta due uad~ this paragrsph, and ia We event Borrower shall make payment directly. Borrower ahall promptly fumiah to Leader reoeipts evideacing ench paymenta. Borrow~ ahall pmmptly diacharge any lien which hea priority over thia Mortgage; pmvided, that Bormwer ehall not be required to discharge any such Uen eo long as Borrower shall agree in writing to the payment of the obligation secured by auch lien in a manner soceptable to I.ender, or shall in good faith rnntest such li~n by. ordefend enforcement of such lien in, legal proceedinga which operate to prevmt the enforcement of the lien or forfature of the Property or any part thereof. ~ 5. Hasard Insuraaoe. Borrower ~hell teep the improv~ents ~w euating or hereaRer erected on the Property inswed againat loas by fire, hazard~ indnded within the term "~tended oo~cerage." and snch other hazards aa I.ender may tequire and in auch amounts and for such periods as Lmder may reqnir~ pmvided. that Lender ahall pot reqnire snch aoverage amount exceeding the minimum, as may be required by state or federal regnlapoua goveming adivities of I.ender. or that amount of coverage required to psy the suma secured by this Mortgage, whichever is the grester. The insnranoe carrier providing tlie inawrance shall be choaen by Borrower aubject to approval by Lender; pro~ ided, that such approval . shall not be unreaeonably withheld. All premiums on inanrance policiea shall be paid in the manner provided under paragiraph 2 hereof or, iC not paid ia sach manner, by Borrower matcing payment. when due. directly to the inaurancecarrier. Atl insuranoe policies and r~e7vels th~reof ahaU be in form aoceptable to I.ender and shall include a 8tendard mortgage clauee in favor of and in form aooeptabk b I.ender. I.tnder shall have the right to hold the poliQes and renewals thereof, and Borrower ahall pmmptly furniah to ~ i.ender all renewal notices and aD reoeipta of paid premiums. In the event of lose, Borrower ahall give prompt notice to the ineurance carrier ~ and Lender. Lender may make pmof of loss if not made promptly by Borrower. ~ Unless I.ender and Borrower oth~wise agres in writing, insurance prooceds ahall be applied to restoration or repair of the Property ~ ; damaged. provided"anch restoration or repair is economically [easible and the security of this Mortgage is not theteby impaired. If euch ! reatoration or npair is not eoonwnically feasible or if the aecurity of this Mortgege would be impaired. the inaurance pmoeede shall be applied ¢ to the suau secund by shis MoetBage, witb the ezo~s. if anY. Paid to Borrower. If the Property ie abandoned by Borrower. or if Borrower fails to reapond to I~ender within 30 days fmm the date notioe is mailed by Lender ta Borrower that the inanrance carrier ot~ere to eettle a claim for in~uranae benefits. Lend~t is anth+~rized to oullect and apply the inanrance prooeeda at Lendei's option eitber to restoration or repair of the Prop~ty or the eams secnred by thia Mortgage. Unlesa L,ender and Borrowa otherwise egt~ee in writing, any such application of prooeeds to principal ahall not e:tend or poatpone the due date of t6a inonthlq installments referred to in paragraphs 1 and 2 Hereof or change the amount of sach installmente. If ander paragraph 18 Aereof the Property is eoqnire~ by L~ender. all righk titk and interest of Botmwer in and to any insurance policiea and in and to the Pmoeeds ~ thereof resulting from damsge to Property prior to the sale or aoquisition shall psss to Lender to the e:tent o! the aume secnred by thie Mortgage immediately prior to such sak ~ aoquisitioa. • ~ 6. Preaervation ead l~aintenance of Property; Leaeeholds; Condominams; Planned Unit Developments. Borrowa shall keep ~ the Property in good repair and shall not oommit weste or permit imp~irment or deterioration of the P;operty and ehall oomply with the } pmvisions of any lease if this Mortgage is on a leasehold. If this Mortgage is oa a unit in a uondominium~ e plarined unit dtvelopment, Borro~ver ahall pertorm sll of Borrower's obligationa under tt?e declaration or wvenanta creatingor go~erning the oondominium or planned unit develapment, the by-laws and reg~lationa of the condominium or planned nnit devdopment, and oonatituent documents. If a ` oondominium ar planned nnit devebpment rider is ~ecated by Borrower and recorded, together with this Mortgege. the oovenanta and agreementa of ench rider ahall be incorporated into and shall amend aad aupplement the covenante and agreements of thie Mortgage se if the ~ rider were a part hei+eof. 7. Protectton ot Lender'~ Seenrltp. If Bo~rowa fails to p~fa~rm the ouvenanta and aQreement~ oontained in this MortQeSe. or if anY ; action or prooeedins i~ oommenoed wrhich materially affecta [~?der'~ interest in the Property. indadinS. but not limited to. emineat domaia, i in~olveac~?. oode eaforoement, or arran~e~b o~r pmcxeding~ involvin~ a baalwpt or deoedeat, then I.mder at Lender i option.npon 3 : notioe to Borrower may make ~ncb appearanoe~~ di~bur~e wch sums and take sncb action as is neoewary to protect I.cader's inta~ek = ~ inclnding, bat not limited to, diibn:saae~t of rea~onable attorney'~ fees and enCry upon the Pa+perty to make repain. U I.enda reqaired l ~ moctga~e insnraaoe eu a oondition of maiung the loaa secured by this MortBaBe, Borrower shall pay tbe praninms reqnired to maintain ; ~ wc6 ininrenoe in eHed nntil snch time a~ t~e requinm~t for such in~uranoe tuminates in aoourdance witb Bormwer's and Leada's ; writtm agrsemeat or applicabk Lsw. Borrower shall pay t6e amonnt of all mortgage u~suranoe pn~miums in the mann~ provided nnder ~ para~raph 2 hereof. ~ Any amount~ di~buned by Lender persuant to thir patagraph 7. with inta+eat theceon, shell beoome addit~'onal indebtedneea oi t Borrower ~ecnred by thia Mortgage. Unlea Borrowrr and I.ender agree to othez terms of payment, sach amounts shall be payabk npon ~ notioe ~om I.enda to Borrower reqnestiag paymr,n! Wereo~ and shall bear3nt~est from the date of.diabnnam~?t at tLe rate payabk 6~n time to time on outstanding prindpal uader the Note nnlers payment af inte~ett at snch rate would be oontrary to applicable law. in which eves~t sach amoant~ ~haU bear iatez~est at tbe highat rate permi~sibk nnder applicabk Iaw. Nothing conteined in thii paragraph 7. ~hall reqnire Lender to incnr any espec~se or teke any action henander. ~ ~ ~ ~ ~ . G R • . ~ g~oK 289 ~~E 919 ~ - ; ; = - ~ : ~ °g"~~~~ - ~ ~ , ~ a„ 'r - -.',r`~' ~y' , _ ~"r ~ ;wa: