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Home My WebLink About0938 ; t . ; l . ~ ' . ~ Borrower and Iwada ooveaant and a~ne u foUo~vs: - ~ 1. Pa~qnent oi Peiaclpai aad Ipterest. Borww~ sheU peoaapt~y pay when dne the pdndpal oi and iatend on the iadebtedne~a 1 wide~oed Dy ttu Note, ~r~paym~t ~ad lab char~es a~ provided ia the Note. and ehe prln~apai ot and intere~t oa any F1~turs Advance~ ~ecnred i ~ P~ad~ for Tue~ and Inwraooa Subjed tn applicaWe taw or b a writtaa waiver by I..e~der. Bormwer shall pay to Lende! o~ the dey awAthl,y uut~Umeata of principal sad iaterest are payabls uader ths Note, uaW the Note i~ peid ia full. a sum (hesein •`Ptind~'~ alual to oAS 4 w . . . twellth of Yeuly premium irt~talimeats ior hasard icuuranoe. plns on~twdAh of Yeariy Premium installaAeats for mort~aye uuuranoe, if any. ~ atf as eea~onabb? estianated initialb? and troaa tinne to time by Lender ou the basis of assesaments and bills and reawnable sdimete~ thereof. The F1wd~ sh~ll 6s held ia an in~tation the depwita or sooount~ ot which us uuored or ~naranteed by a Feders! or Staee aQency (inclu~n~ Lende~ if I.~da~ i~ wch an inatitution~ Lender ahaU eppiy the Ftinds to psy said tase~. as~aweats, inaurnnce precniwns aad gronnd rants. Le~der may aot chas~s fa w hoidiag and applyin~ the P1~nda. analyzing ~aid socounR or verifying end oom~ilia~ ssid aase~rmenb and biW. nnlea I.a~der pay~ Borrovv~ iaterest on ths FS~nds end applicable law permits Lendes to make wch a charQe. Borrower and L~de~ m~y a~ree in weitins at tbe time of esec~tion ot tLi~ Mort~age Wat intere~t on the F~nds shall be paid to Borrower. and unlew ~ rnch a~reement i~ made or applicable.ls~rteqnires nuh inte~re~t to.be paid, Lepd~ ~hsll not be,required to pay Borrower any intere~t or ~ esraings on the FLnd~. I.ender shell give to Borrmper. without char~e, aa aaaual acoonnting of the I~nds ehoaing credita and debita to the ~ Ftiad~ aad We purpo~e for which each debit to the Fnnds waa made. The Funds nre pledged eu e~dditional ~ecurity for tbe sums ~enrreid by this ~ ~ Mort~a~a f If We amount of We P1u~ds held by Lender, togeWer with tha tutnre monthly inataliments of P1~nds payable prior to the due dates of tases. _ ~ asse~meats. iasmanoe premiums and gronad reats. shall ezoaed the amouat required to pay said ta~ces. assessments. insuranoe p~emiams ~ aad ~e~onad rents o they fill dne. a~ch ezoess shall be. at Bmrow~'~ optioa, either promptly repaid ta Borrower or credited to Borrower on moathly instellmenta. of Pbnde. It the ama~nt of the Pbnds beld by Leuder ihaU not be onfficieat to pay tascs. aa~asment~, ias~ranoe ° premiums and ~ronnd re~ts as the~r faU dne. Botrowrer shall pay ~o Leada eny amount aeoeaaary to malce up the de5deacy within 30 days ! fmm the date notica is meWed bY Leade~ M Borrower requestiag psymeat thueof. ~ Upon paymeat in fiill af all sums ~ecwoed by tl~ia Moitgeige, Leader ahaU prompdy refund to Borrower any funda held by I.ender. If under paragraph 18 hereof the Propeety is sold or the PropeKy ia otherwise acquired by Leader, Lender shall apply, no lat~ than immediateiy prior to We sale of the Property or ita aoquiaition by Lender, any Fhnds held by I.ender at the time of application as a credit against the sums recured ~ by B~is Mortgage. 3. Applkation= oi Pqrmenb. Unless applicable law provides otherwiee, all paymeats received by I.ender under the Note and ° paragraphs 1 and 2 hereo!' shall be applied by Lender 5rst in payment of amounta payable to Lender by Borrower under paragraph 2 h,ereof. ~ the~ to interest payable oa the Nots. Wen to the p~incipal of the Note. and then to iatee+eat and principal on aay I~tnre Advanoes. ; 4. Char~es; Liea~. Bor~ower shall pay all taues, easesemeab and othercharges, fines and impositions attribntabieto the Property which ~ may attain a priority over this Mortgage, and leaaehold paymenta or ground rents. if any, in the manner pmvided under paragraph 2 hereof or. if not paid in auch manner. b3? Borrower makin8 PBY~ent when due, directly to the payee thereof. Borrower ahaU prompdy furnieh to Lender ~ aU aotices of amounts due nnder this P~Sl8P~1~, aad in the eveat Borroaer ehall tnake payment directly, Bormwer shall prornptly furniah to [.ender reoeipta evidencing sucli paymente. Botrow~ ehali p~omptly discharge any lien which has priority over thia Mortgage; pmvided, that Borrower shall not be cequired to di~c~arge any such lien uo long as Borrower ahall agree ia writing to the payment of the obligation eecured by ~ such lien in a manne~ acceptable to Lender. or ahall in good faith contest auch lien by. or defend enforcement of such lien in. legal proceedings f which opaate to. prevent the enforcement of the lien or fodeiture of the Property or any part thereof. ~ 5. Has4rd In~araaoe. Borrower shall keep the improve~neate nowr ezutiag or heresft~ Qrected en the Property iasnred against loae by i fire, hazards inclnded within the term "~teaded ooverege." and aach other hazarda ea Leader may require and in snch amonnts and for such paiods as I.ender me~y reqnire; provided. that Lender ehall not require snch ooverage amount e:ceeding the minimnm. as may be required by ~ etate or federal regnlations governing activities of I.ender. or that amount of coverege required to pay the aums secured by thia Mortgage, whicheve: is the greater. . 'I't~e insurance carrier providing the insurance shaU }~e choeen by Borrowet subject b approval by I.ender, prnvided, that such approval ~ ahall not be unreasonably withheld. All premiums on inaurance policies ahall b~ paid in the manner provided under paragraph 2 hereof or. if ~ ~ not paid in snch manner. by Borrower making payment, when due. directly to the insurance carrier. ~ - All inauraace policies and renewaL tbaeof shall be in fosm aeceptable to Lender and ehall include a standard martgage cla~se in favor of ~ and in form aocaptable to Lender. Lender ahall have We right to hold the policies end renewala thereof. and Borrower ahaU promptly furniah to i.ender aq reae~val notiaes and all reoeipts of paid preminms. Ia the event of loss, Boreower ahall give prompt notioe to the inaurance ca~rier € and I,ender. L.ender may make proof of loss if not made promptly by Borrowez. ~ j Unless Lendar and Borrawer otherwise agree in w+riting. inearance prooeeds shall be applied fo restoration or repair of the Property ~ ~ damaged, provided such restoration ar npair is economicaily feasible and We secnrity of this Mortgage is not thereby unpaired. If sach - restoration or repaa is not eooaomically feasible or if the security of this Mortgege wonld be impaired, tbe insurance prooeeds shall be applied ; ( to the sams secnred by this Mortgage. ~rith the ~cess, if anY, paid to Borrower. If We Property is abandoaed by Borrower. or if Borrower fails to ~ i respond b I.ender within 30 days from the date notiae ie mailed by I.endrr to Borrower that We insnrance carrier ogera to setde a claim for ; ~ insuranae benefits. I,ender is antborized to oollect and appiy the uuurance proceeda at Lender'e option eitber to reatoratiop or repair of the ; ~ Peope[ty o~r We dums seCUied by @lis MottgAge. ~ ; ~ Uniees Lender and Borrower otherwiee agree in writing, any snch application of proceeds to principal ahall nai e~ctend or postpone the due s date of the monthly inatallments nferred to in paragrephs 1 and 2 hereof or change the amonnt of such inatallments. If uader paragraph 18 f hee+eof the Property is eoquired by Lender. all rigbt, titk end interest of Bormwer in and b any inaarance policiea and in and to the proceeds ~ thereof r~alting #rnm damage to Pruparty prior to the sale or acquieition ahall pass to I.ender b the eztent of the aums secured by this ~ Mortgage immedia4ly prior to wch sale or aaqnisition. ~ ; 6. Preservatlon end Maintenance of Property; Leaseholds; Gondominnms; Plsnned Unit Developments. Borrower shall keep ; the Property in good repair and shall not oowmit waate or permit impairment ar detsrioration of the Propedy and ahali oomply with the r provisiona d any lesse if this Mortgege is on a leaaehoid. If this Mortgage is on a nnit in a coadominium or a planned unit development, ~ Barmwer shall per[orm all of Bosowe!'s obligations ~nder the declarstion or oovenants rnratingor gov~ning the oondomininm or plarmed _ unit developmeat, the by-laws and regalations of the aondomininm or planned nnit development, and oonatituent documents. If a ~ ~ rnndomininm or planned uni! devdopment rider is euecnted by Borrower and recorded togethQ wiW thia MorteaBe. the oov~anta and ~ agrcemente of such rider shall be incorporated into sad sha11 amend and anpplement the covenants and agreements of thia Mortgage as if the ~ ~ rider were a part hez~eoL ~ ~ 9. Protecdon ot Lender'~ Secarlq?. If Barrower faib to paform tbe oovenant~ and agreemenb oontained ia this Mozt~+ige. or if aW? ; ~ ection or p+oceedin~ is oommeaoed whids materially aHects I,endel~ iatere~t in the Prop~a~ty. inelnding, bat aot limited to, ea~iaent domain~ : inwlveacY. -oode ~fo:oement, a~ arrao~emaab ot pra:eeding~ iovolving a ban~npt ar deoedent, tLea Lender at Leader'~ optioqapon ; ~ notioe to Barmwer may mal~e su~ appearaaoe~, di~barse ~nch sums and taice saeh aetioa_aa i~ neoewary to parotect Lender's intecesl. s ~ indnd'mg, bat not timited to, diabar~t of rearonable attorne,~~ fee~ uid eatry npon the Property to meke npairs. It Leades required E ~ mortga~e in~nranue as a oondition of malrin~ the loan ~ecored by this Mortga~ Bo=row~ ~hall pey the preminnu~ iequirad to maintain ~ snch in~nranoe in effect nntil ~uch time a~ tbe requinemeat tor sach inruranos terminater in-aocordanoe with Bor~+ower'~ and I.eadd~ ~ • writlea ~eement ar applicabk Law. Borrovver shaU pay the amount ot all mortgage ituuraace preminms in the manner provided nndrr : P~BraPh 2 hueoL ~ ~ Any amonnt~ di~buned by Lender persuant to this Dar+igraPh with int~erest thereon, shall beo~me additional indebtednea of - ~ Borrower ~ecured by this Moirtgage. Unlas Borrawa and I.esdsr egree to otha~ terms of PaYm~t, wch amwnts shall be payabk apon ° ~ notioe irom Laider to Borrawer re4~~8 PaYment thereo~ and shall besr intere~t from tbe date of disbur~ement at the rate payabk ~n ~ time to time on art~tanding principal unda We Note onleas payment ot in~ at ~ach rate waild be oontrury to applicable law. in which ~ ~ eveat snch smonnta sLall bear inkre~t at the hi~hest rate permiuible under applicabk law. Nathing oontained in this paragreph 7. shaU ~ ~ reqnin I.ender to incur any apense or take any action-herenndrs. ~ ~ 8R . ~ oaK 289 ~A~f 9z7 . ~ ~ ~ ~ - - - . : r~-~,_~ , ~ ~ b~ ,.~i~ _ -