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Home My WebLink About0942 Horrower and Leudr oovenant aad a~ree u foUows: 1. Pw~naeat oi Peiacipwl ~ad IntereaR Botmower ahRU pmropUY WY when due ths prinapal o! and intere~t on the indebtedneM ~videaad by the Note. prepqymsat aad late charge~ er peovided in t~ Noie. aad the priacipal of and interat on eny FLture Advance~ ~scured by thi~ Mort~+~e- ~ S. Fbnd~ tor Truco~ a~ad Iawraaoe. 3ubjoct to applicabk iaw or to s~vritten wsiver by I.endee. Borrower shall pa,y to Lender on the day ~ monthly inatsllmeat~ ot principal aAd iaterest are peyabk uader the Note. until We Note u paid in ful1, a sum (herein "Funcia'7 equal to ons itan Iwon twelRh of yearly premium installmatts for hasard insuranos, plw on~twelRh of yeas~jr premium inatallments for mortga~e iaaurance. if any. aU as reasonab~y atimated iaitiaUy and irom time to time by Lender on the basi~ oi as~amente and bills and reasonable eetimatea thereof. 'The P4ad~ shaU be hekl in an in~ditution the deporits os socount~ of which are insured or Quaraateed by ~ Fede:al or 3tate agency (inclndin~ I.euder if Leadec iu auch an inatitution). Leader shell aPP~Y the Funds to pqy ~aid ta:e~. aa~essmenb. ins~uanca preminms and grouad reats. Iend~ may aot charQs foe w 6oldins and applying the P~ada. anaiysin~ said aooounR or vesibring and compiWig said aa~e~sments aad bilb. nnles~ Iander psy~ Borrorrer iaterest on the E~nda aad applicabk law pe:mies Lender to make such a char~e. Borrower aad Let~der may u~sree ia writinQ et We time of e:ecution o! this MortQaQe that intand on the I~Lnd~ shaU be paid ~o Borrower. and uniea~ ' ~uch a~reemerit is made or applicabk tew requlres such interest to be paid. Lender shdl not be required tb pay Borrower any interest or earnings oa the P1u~d~. I.endei ~hall give to Borrower. wit6out charge, an annual acouw?ting of the Funda showing credits aad debib to the ~ ~nd~ and the pnrpws for ~rhich each debit ~o the ~nds was made. 7'he ~nds are pledged as additional ~ecurity for the suma ~xured by this Mostga~e. If the aanouat oi We Fhnda held by I.ender. together with the future monthly installments of fi~nda payable prior to the due dates of taxes. ass~ssment~. ineuranoe preminms and gronnd renta. shall e:oaed the amount required ta p~y said taxes. as~essmenb, inauranoe preoni~ms and ground r~b as they fap dne, such ~cess s6a11 be. at Horrower's optioq either pmmptly repaid to Bormwer ar credited to Borrower on monthly insWlmeats of Fhnd~. If thn amoant of the Fnnds held by I.ender shall aot be snfScient to pay tases, asaessments, inaurance premimas nnd ground reats aa tbey fall du0. Borroaer ehall pay to•Lender aqy amount neceasary to make up the deficiency within 30 de~ya from the date notioe ia mailed by I.~da to Borrower requesting peyment thereof. Upon paymegt in fiill a~ all snma ~ecured by this Mortga~e. I.eader shall prompt~y ntund to Borrowr~ sny fuada held 6y Lender. If uuder Para~raPh 18 hereof the Prope:ty is sold or tl~e Praperty is otbuMrise aoquired bY I.eader, Lender ahall aPP~9. no later than immediate~y prior to the sale at the Property or its acquisition by Lender. any Fl~nda held by I.endar at the time of application as a credit against the auma secar~ by this Matgage:: 3. AppUcatlon of Pqrmenta. Unleas applicabie !aw provides otherwise. all paymente reoeived by Lendes nnder the Note and paragrepha 1 aad 2 beseaf shall be applied by I.endet fust in payment of amounts payable to Lender by Borrovrer nnder paragraph 2 hereof. th~ to intere~t payable on the Note. then to the principal oi the Note, and then to interest and piincipal on any ~ture Advancea. Charses; Lteas. Bonower ahall p~y all taues. assessments and other chargea, finee and imp~itiona attributable to the Property which may attsin a priority ovsr thia Mortgage. and leasehoM paymeataor gronnd renta, if any, in the manner provided under paragraph 2 hereof or. if not paid in snch manner. by Borrower making Payment, when due, dir~ectly to the payee thereof. Borrowerahall prompdy fumiah to Lender all notices of amounte due under this ~+aragraph, and ia the event Borrower ehall make payment directly. Borrower ehall promptly fwsriah to Le~da reoeipts evida~cing such paymenta. Borrower ahall P~P~Y ~er8e any lien ~rhich has priority ov~r thie Mort8a6~ Provided. that Borrower ehall aot be reqnind to diecharge any such lien so long as Borrower ehall agree in writing to the payment of the obligation eerured by - auch lien in a manner aooeptable to Lender, or shall in good faith oontest auch lien by, or defend en[orcement of auch lien in, legal pmceedinge which operate to preveat the enforcement of the lien or forfeiture of the Proparty or any part thereof. b. H~zard Insurance. Borrowet shall keep the improvementa aow exiating or hereaft~ encted on the Property inaured against lose by SrP. bazaeda included w+ithin the Lerm °estended cove~age,° and auch other hazards ae L~der may require and in such amounte and for euch periods as Lender may require; provided, W at I.ender shall not require such wverage amount e:ceeding the minimum. ae may be reqnired by atate or federai ngulations governing adivities of I.ender. or that amount of ooverage required to pay the suma se~nred by thia Mortgage, whichever ia t6e greater. _ 'I~e insutance carrier providing the insurance ahali be chosen by Borrower eubject to approval by L.ender; provided, that such approva! ahall not be unreseonably withheld. AU premiums on insura~ce policies ahall be paid in the manner pmvided under ~aragraph 2 hereof or, if not paid in euch mannez. by Borrower making payment, when due, directly_to the inaurance carrier. All insurance poliaee and renewala thereof ahall be in form acoeptable to I.ender and ahall inclnde a standard mortgage claase in favor of and in form aooeptable to I.ender. I.ender shall have t6e right b hald the policiee and renewals thereof, and Borrower shall promptly fumieh to ! iender all reneaal notices and aU receipts oi paid premiums. In the event of loes, Borrower ahall give prompt. notice to the inauran~e carrier ~ and I.ender. I~endrr may make praof of loss if not made pmmptly by Borrower. ~ Unless L~der and Borrower otherwise agree in a?riting. ina~rance prooeeds ahall be applied to natoratioa or repair of the Property ~ damaged, provided anch nstoration or repair is economically feasible and the secarity of this Mortgage ia not thereby impaired. If such ~ restoration a~ repair is not economically feasibk or if the aecority of thia Mortgege would be impaired, the iaaurance prooeede shaU be applied ~ to the sums aeciued by t6is Mortgage. with We ~oess. if any. Paid to Borrower. If the Property is abandoned by Borrower. or if Borrower fails to ~ reepond to Lender within 30 ds~~e ~+om the date notice is mailed by I,ender to Borro~ that the insurance carrier ogers to scWe a claim for ~ insnranae bene6ts, Lender ia anthorized to collect and apply the insurance prooeeda at Lender's option eit6er to restoration or repair of the Property or the sums secured by this Mo:tgage. ~ Unleas Itnder and Borrower otberwise agrce in v~iriting, any such application of pmoeeds to principal ahall not e:tend or poetpone the due date of the monthly iastallments refarred to in paragraphs 1 and 2 hereof or change the aa~onnt of snch inataUments. If nnder paregraph 18 haeof the Peopetty is aoq~ired by Lender. all righ~ titie and inttreed of Botrower in and to any inaurance policiee and in and to the prooeede thereof resniting from damage to Property prior to the iak or aoquisition ahall pas~ b~i.ender to the estent of the suma secnred by,thia Mortgage immediately prior to sach sale ur aoqaisition. 6. Pre~eervation and Mainteaence of Property; Leaaeholde; Condominumi; Plaaned Unii Developmente. Boimwer shall keep . the Property in good repair and shall nd commit waste or permit impairment or deterioration of the Property and ehall oomply wit6 the provisions of any lease if tbie Mortgage is on a ieaiehold. If this Mortgage is on a wut in a_ ooadomini~un or a planned uait development, Borrowet shall puform aU of Botrower's obligatione under the declaration or wvenants creatingor goveming the oondominium or planned unit developmen~, the by-laws and reg~ilations ot the oondominium ar planned anit development, and constitnent documente. If a ~condomininm or plannea uni~ development rider is e~ce~,~ced by Borrower and neoorded ~ether with this Mo~rcgsse. tbe oovenants and agreements of anch rider shell be incorporeted into and ahaU amend and supplement the coveaants and agreemeata of this Mortgage as if the rider were a part hereof. ~ T. Protectio~n ot Lender'r $ecnrlt7. U Baaower fsils ~o pe:ta~m the covenanb and agnemenb ooateined in this Mmrt~eBe. ~ if any ~ 8CI30A OT p[OOEEd1Il~ 1~ 1~0~IDES0Ed Nb1C~1 milLEJ78ll~18EfeC~A LCDa!!~/ 1DZEilf~ 1I1 ~E PtOQE~y. including. bat not limited b, emineat domain, ~ inwlv~cy. oode eaforammt, ar erran~emeah or pmoeedings involving a bonl~rupt or deoedent, thea Leader at La~der's option,npon ~ notic~_to Barmwer ma1? mal~e anch appesranue~. disbune snch snms and tal~e sach action as is neoewary to protee! Lendd~ intenst, ~ incindin~. bat riot }imited to, disbar~em~t of nasonabk attarney'~ fees and ~try upon We Property to make repairs. It Leader reqaired ~ mortSsge iiunranoe eu s condition of making tbe loan ~ecared by thir Mort~age. Bon~ower shsU psy the premium~ reqaired to maintein sach ininranoe in egect until ~nch time as the requirement for snch uuaranoe taminate~ in aooordanoe with BoTrowds and Leada's ~ vvrit~ agreement or applicable Law. Barrower ahaU pay the amonnt of all mortga~e insuranoe preminm~ in the manae= provided nnder Dara~*aPh 2 hereof. ~ Any amoanta disbursed by I.~nda pessuant ro ~hia varesrarh 7, with interat thaeon. shall beoome additional indebtedaea of Bo~o~rer oec.vred by this Mortgage. Unlea Borrower and I.mda agree to othe~ term~ of paymea~ such amounte shall be payable npon notioa from Leader b Ba~re~ower reqne~ting paymeat thereof, and ahall b~s intesert from the date of disbursement at the rate payabk from time to time on ontstaading peirx~pal under the Note nnless payment of intere~t at snch rate wonld be aontrary to applicable law. in w}uch evart snd~ amoanta shall bear iaterest at the highest rate pamissible under applicable law. Nothing oontained in this paragraph 7. ~hall reqnire Lender fu incur any ~pense or take any action hez~eunder. ~ 6 00!( PAf E J~ i L ~ ~ l 4 . ` ~ ~ y_+~-~g .~.r~~ fix,_e~~ ° ~y~~. d ~ .S'~.:a?;vi':