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Home My WebLink About0934 Borrow~ u~d l.eader oovenaat a~d a~ne~a~ f~lows: 1. Payment of Priacipal wnd Intere~t. Borrowe~ ~haU promptly psy wrhea due the principal of and inte~ed o~ the indebtedn~ . ~videaad by tl~ Nots. pr~paymeat aad l~te char~M a~ pmvided in ths Note. and ~1,e principal otand insere.t on any Fticu~ Advaaoe. eecured bY tl~i~ Most~s~e. . Z. I+1~nd~ for T~e~ and Iasuranoe. Subject b applicable law or to ~ writtea waive~ by L,e~de~. Borrowe~ shell pay to Lender on ehe day . twetlth oi the yeul y teu~a and awawments whicb may attaia priodty over this Mort~e~e, errd Qround renta oa the Propedy. if any. plw ons twellth of yairly premium in~tallments to: hazard 'uuurance. plus on~t~+elRh of ysar~jr premium itistallmente for mort~age insurance. if any. aU a~ reawnably atimated initisl~y and tt~om time to time by Lendet on the basia of a~eesmcnt8 and biW and reasonable eetimates thereof. 7U~ PLndr shaU b~ held in an in~titntion the deposi4 a~ ~ooounb oi ~vhich ere insurod or guarenteed by a Federal or ~ate ~pigency (iaci~dia~ I.enda it Iwnda~ is ~nch aa iastitutioa~ Lender st~s11 apply the F1~nda to pe~y said tases. aasesamenta, iwnranoe pcemiums and ~+oand r~b. Leader a~~y not charge fa: so holdin~ and applyiaQ the Ptindi. ana~jrriag eaid aocount, or verifyins aad oompiliag isid . a~esaneats and biW. nalea Lender p~sy~ Borro~rer intsre~t o» the Fhnda and appliceble la~r pe~rmits Leuder to ipal~e such a cbarge. Borrow~ aad Lende~ msy e~ree in writinQ at the time of ezecution of this Mort~aQe that interest oa the F~nd~ shaU be paid to Borrower. and unlen auch ~t is made or applicabk law requires wch intetest to be paid. Leader ehal! not be required to pa~y Borro~rec eny iatere~t or eaminQs on the Pbad~. Lend~ ~hall give to Borro~er, witbout chat~s, an aanual aooounting of the F unda showing credits and debits to ehe Phnd~ and the puzyore for which each debit to tbe PLad~ was made.'R~e ~tnds are pledged as additional securiqr for the sums ~ecured by thia Mortgs~e. . If We amount of We F~nds heW by I.eader. toQ~ether with tbe fnture monthly installments of F~nda payeble prior b the due dates of tauces. assesaooeat+s. inaaranoe premiums and ~enund r~ta. shall exc~aed We amoun! required to pqy said ta:ea. assesemente, iasuranoe preaniams and around r~ts a~ they faU dne. snch a~ccen shall be. at Bonowei s optioa. either promptly repaid b Barrow+e: or credited to Borrower on monthly installments of PLnds. V the amor~nt of the P1~nds held by Leader ahall not bs sut~icient to pay taiea, as~eesments, insnrauoe premiums and ~ronnd rents es tbey fall due. Borm~ver shall pey ~o I.ender eny amount necessary to mate up the de5ciency within 30 days trom the dute notioe u mailed bY Lead~ b Borrower requesting payment the~eof. Upon payment in tnll otall sums ~ecund by Wi~ Mortgage, I.ender shell promptly nfnnd to 8orrower any tnnds held by I.ende~. If and~ paragraph 18 hereof the Prnperty is sold a~,the Property ia otherwise aoquired by I.enda. I.ender shall apply. no later than immediately prior to the sale of the Property ar its aoqnirition by Lender~ any P~nds held by Lender at the time of application as a credit againaL the eums eecured by Wia Most~age. 3. Applicadon of Payntenta. Unless applicabk lavv provides otherwise; all peymenta reoeived by I.ender uadrr the Note aad paragraphs 1 and 2 hereof shaU be appliai by I,eader first in payment of amounta payable to Lender by Borrovrer under paragraph 2 hereof. th~ b interest payabk on the Note, then to the principal of the Note. and then to interest and principal on any I~ture Advanoes. ~ -4. Chartos; I.iens. Borrower ahall pay sA Es:ea. aaaessmenta and other chargee. fines aad impositions attributable to the Pro i may attain a priority oves this Matgag~ and leaaehold ~ertY which • s ag pa~ymenta or ground rente, if any, in the manner provided unda paragraph 2 hereof or. if not pa~ in such manner. by Borrovves malrinB PaYmen~ when due. directly to the payee thereof. Borrower ahall Frompdy fumiah to I.~der all notices of amouata due under this paregraph, and 'w t6e event Borrower ahall make payment directur. Borrower shali promptly fumish to [.enda recsipta evidencing auch pajrmenta. Borrower ahall promptly diecharge any lien which has priority over this Mort8a8e; Provided. that Borrow~ ahall not be required to discharge any wch lien so long as Borrowe~ shall agree in writing to the payment of the obligation secured by such li~ in a manner aaceptabk to Lender. or s1~a11 in good faith oonteat auch lien by; or defend enforcemrnt of auch lien in. legal proceedinga ~ which operate b prevent the enforcement of the li~ or forfeiture of the Prop~ty or any part thereoL 1 5. Hazard Ins~ranoe. Borrower shall keep the improvemeats now existing or hereafter a+ected on the Property inanred againat loas by . fire. hesarda inclnded within the term "actended ooverage." and sach other hazards as Leader may require and in such amounte and for such ~ periods as Lender meJ? re9uie+~ Pi'nvided. that Iande! ahall not require anch ouverage amount exceeding the miaimum. as may be required by state or federai ngulations goveming adivitiee of I.endu. or that amount of aoverage requic~ed b pay the aums secured by this Mortgage. ~ whichever is the greabr. - 'Ibe iasuranrae ca~ri~ providing the ineurance ahall be choeen by Borrower aubject to approval by Lender, provided, that auch approval ~ ehall not be nnreaeonabiy withheid. All premiuma on inaurance poliries ehall hs paid in the manner pmvided under parxgraph 2 hereof or, if ~ not paid in such manner. by Borrower making paYment, when due. direcUy to the inaurance carrier. All uu~rance policies and renearals thereof ahall be in form aooeptable to I.ender aud ahall inclade a standard mortgage clause in favor of and in farm aooeptsbk to I~nder. I.eader shall have the rig6t to hold the policiea and renewals thereof. and Borrower shall promptly furniah b i.ender all reatwal notioes and all reoeipta of paid pr~miuma. In the event of loss, Borrower ahall give prompt notice to the ineurance carrier ' and Lender. Lender may make proof of loss if not made prompdy by Borrower. li Unlea I.ender and Botrower otherwise agree in writing. insurance pmceeds shall be epplied to reatoration or repair of the Property ' damaged, provided anc6 restoration or npair is eeonanically teasible and the aecurity of this Morfgage ia npt thereby impaired. If auch ~ ~ restoration ar npair is not economically feasible or if the secarity of thia Mortgage wonld be impaired. the inaurance prooeede shall be applied to the ~ums eecared by thi,s MortBage. with the e:oees. if anY. Paid to Bormv?er. If the Property is aban~loned by Borrower. or if Borrower fails to , r~spond b L~der within 30 days from tl~e date notice ia mailed by Lender to Borrovrer that the insurance carrier offers to settle a claim for insurance beaefits; I.mder is anthorized to ooUect and apply the inauranoe pmceeds at Lender's option eiRher to restoration os repair of the Prope:ty or We ~ums eecured by this Mortgage. _ Unlees Lend~ and Borrower otherwise agree in writing, any such application of pmceeda to principal shall not actend or postpone the due date of the monthly instellmeflts referred to in paragraphs 1 and 2 haeof os change the amouat of suc6 inatallmente. If nnder paragraph 18 ~ hrnof the Property is aoquired by Lender. all right. titk and inter~t af Bormwer in and to any inaurance policies and in and to the Proceeds ~ thereof resulting fmm damage to Property prior W the sale or. aoquieition shall pess to Lender to the e~ctent of the sums aecured by thia ` MortgaQe immediately prior to such sak ar aaqnisition. 3 s 6. Pre~ervadon and ltaintenanoe of Property; I.ease6olds; Gondominnms; Planned Unit Developmenta. Borro~ver ahall keep ~ the Property in good repait and ahall not c~om~nit waste or permit impairment or dtKerioration of ihe Property and shall oomply wiW the ~ pmvisions of any kase if thia Mortgage ia on a leasehold. If this Mortgege is on a unit in a eondominium or a planned unit development, ~ Borrower ~hall perEoan all of Borrowet's obligatione ander the declaratioa or oovenanta creatingor governing the candominium or planned ~ unit developmea~ the by-lavro and regulatione of the aondominium or planued anit development, and oonstitnent documenta. If a ~ wndomiainm or planned nnit development rider ie ezecuted by Borrower and reoorded together with tLia MortBaBe. tbe oovenants and { agreements of such rider ehall be inoorporated into and aha11 amend and aupplement the rnvenanta and agreemeats of this Mortgage ae if the ~ rider were a patt hereof. _ $ 7. Protectio~ of Lender'~ Secarity. If Bort~nwa fails to per[orm We ooveoants and agreements oontained in this Moetga~e, ar if any ~ ectinn or prooeeding is oo~meaoed which muleiially agecte La~de~~ intere~t in the Penperty: includinS. bnt not limited to. anineat domain, ~ x inaolveacY. e~ode enforame~k or arrangemeat~ or Pe~ooeedings involving a ban~snpt or deoedml,'then L~der at La?der's option.npon ~ ~ notica to Bor~+uwer ma,y make ~nch appearanoe~. diibnne ~nch ~n~w and take wch qetion a~ u aeoenasy to pcoted I.eadeir's interestr ~ indnding~ bat not limited b, diabaneme~t of reewnabk attorney's fee~ a~ ~try npon the Property to maice repain. If Leader nired ~ mort;+~s irunranoe ar a oonditioa of makia~ the loan secared by this MortBee~ Borroaer shall ~ ~ ~ ~uch in~uranoe in e~ect until ~nd~ time a~ the W~Y the pra~minms reqnired ~o maintain . reqninment for snch insnranoe termiaates in aooo~danoe writb Bore+owec'a and La~dd~ - ~ writtea a~reemeat ot spplicable Iav?. Borrower shaU psy tbe amount of all mortgage insnrenca premiums in the manner provided aader parggraph.2 baeof. - - f ~ Any aawnnh di~Mtraed by Lender perwant b this para~raph 7, writh intue~t thaeon, shall beoome additional indebtedness of ~ Basrorva ~e+eured bq ~his Mortgage. Unkw Bo:rower and Lender agree to Mher term~ of Pe?Ym~~ sac!? amoants ~hall be payable npon ~ notioe from Leader to Borrower n~ reqnertin~ paymmt the~o~ and shall bear intereat ~om We date of diabnreement at tbe rate payabk iram ~ time to time on ontdandin~ principal nnder t6e Note nnlas payment of intee~est at wch rate wonld be ooatrary to applicabk law, in which ~ eveat au~h amonnt~ ~haD be:t iatenst at tbe highest rate permi~aible ander applicable taw. Nothing oontained in thi~ paragraph 7, ~hall ~ ~ reqaire La~dez to incnr any e:pen~e oi take any aetion ha~ennder. BOa(Z~ ~ ~ 9 PAGf 9~ ~ ~ ~ _ ~ ~ - - t'~'~~ : ~:,~:a~"~v ~ - . ~ I r4v ~ ~ ^ ~ e~ _ a r~r - i,