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Home My WebLink About0830 : • ~ ' I~I~IFOR~i COYE\Ah`i'S. RU170N'Cf ancl l.endr~ ~o~~cn.~nt and aR~er as tolloM•s: • 1. Payment oE Principal and lnterest. fi~u~uw•er +hall prum~~~l~ ~~av w•hcn duc• ~hc principal ot and iutrrcu uu th~ indebteci~iess e~•idenced by the \ute. p~e~~aymrnt and latr chargr~ rs prucidr~i in thr \ute. aud the priuei~,al „t aud inter- e,t on auy Fuwre Advances xcural bv this ~lortgage. 2. Funds io~ TaYe~ and Iosurance. Subject t~ applicable law or to a wriuen rvai~rr by 1_ruder. $orruw•er shall pay to l.cnder on the day monthly iustallments of principal and interest a~c ~~ayable uncfcr ~hc \ote, until the Aote iti paid in tull, a.um (herein "Fundi') eyual u~ i~ue•twrl[th the yearl~• tazes and a.~cs,mcuts w•hich may attain priority o~•rr this \tortgaRe. and qround re~us on the 1'ropert~•, it any. plus one-tNeltth o( trarly prcmium ii~.tall~nen~s tur harard iuxurance. plus one•cwd[th ot yearly premium inseallmems (or mortgage in+urance. i( auy, all as rrau~nabl~• estimated iuitially and hom time to time by I.encier o~~ the basis o( assewnents and bills and reasoaable estimatrs thrtc~~t. The Funds shall be held in an institution the dejwsits or ~aouuts of Nhich are in+ured or quarantcYd I,i• a Federal or • .t~te ap,rncy (including Leuder i[ Lender is such an im~itution). Lender shall applp the Fuuds to pa~• s:~id taxrs, assestments, iusurance premiums aud g~ouud renis. l.cnde~ may not charge (or so holding and apphiuR the Funets, aoal~~iinq said ac- count, or veYitying and compilinR said assessments aud Uills, unleu I.ender pays Borrower intere+t on the Fundx and a~r pticable !aw permits Lender to mal:e .uch a charRe. Rormwer and Lender may agree in M•ri~inR ac [he ~ime ot execution ot this ~tortRaqe that interest on the Funds ,hall be paict to BorroMer, and unlecs such a~{rermrnt is made or applicable law requirec such intertst to be paid. I.ender shall no~ be required to pay Rorrower any interest or earninRs on tl~e Funds. Lend~r shall Ri~•e to Botrower, without charRe, an aunual accountinq ot the Funds chowinR credit. and etebits tu the Funds and the purpose [or Mhich each debit to the Funds Nas made_ The Funds are pledp,ed as adciitioual securit~• (or ~he sums .ecured b~ this \tortgage. ~ II the amount o( the Funds held by Lender, toRether with the (uwre monthl?~ installments ot Funds pa~~able prior to the due dates o( taxes, auessments, in.urance prrmiumc and ground rents, shall exceed the amoun~ rec~uired to pay said taxes, assessments, insurance premiums and y,round rents as the}~ (all cfue, such excest shall br. at RorroNer's option, either promptly mpaid to BonoNer or crediteci to Borrower on monihh• installments of Fundc. I( the amount o( the Funds hetd by I.encler shall not be suftici~nt to pay taxes, accessments, insurance premiums and ~ruund rents as the}• tall clue, Borrower . shall pay to I.ender an~ amoune necess.~n~ to make up the deficiency Mithin 30 days (rom ~he da[e n~~ice is maileel by Leuder to Borrower requesting pa~inent thereo(. Upon payment in tull o[ aq sums secureci b~~ this ~tortgage, 1_ender shall pmmpth• re(und to Aotto~+er any Funds held b}~ l.ender. 1[ under paraRraph IA hereot the Property is sold or the Pmpertv is otherh•isc ac~uired b~• Leuder, Lender sha11 appl~•. no later than immecfiatel}' prior to the sale o[ the Proprrt~• or its acquieitinn b~• l.ender, anv F~~nds held b~~ l.ender at the time of application as a creciit aRainst the sums secureci t?~ this ~(ortAaRe. 3. :~pplication of Payments Unless applicable laM prm•ides othet~vise. all pa~•ments recei~•ed by Lender under the i~ote and paraRraphs 1 and 2 hereot ~hall be applicd b~• 1_endcr fint in payment o( amuunts ~~aJ~aLlr to I_ender by Borro~•er undcr paraRraph 2 hereof. then to i~itere~t ~ayablc on the \ote, thcn to the principal of the ~ote, and then to interest and _ principal on any Future Ad~•anca. 4. Charges; Liens. Borrower shall pa~• all taxes, assessmrnta ar~<I other char~{es, fines and im~sitionc attributable to ' thc ProPcrty Hhich tna? attain a priurity o~er this ~fortRage, an~l leasehold pa}~nents or growui rents, i[ ai~}•, in the marn ner pro~•ided under paragraph 2 hercwt or. i( not Paid in such manner, t,v RonoNer making pa~~nent, ~hen due, directly to th~ pa~•ec thereoL Borrower sliall prompel~~ furnish to Lender all notices of amounts cluc under thi~ paraRraph, and in the e~•cnt Borrower shall make pa~lnene directh•. Borrower shall promptl~- (urnish to I.ender receipts e~~ide~uinR such pa}ments. Borrower shall prompdy discharqe am• lien Nhich has priorit} o~er this ~lortRaRe: pro~ided, that Borrower shall not be re- quirecl to~dixharqe any such lien w lon~ as BorroNer shall agree in writinR to the pa~ment o( the obligation secured b}• such lien in a manner acceptable to Lender, or shall in R~x?d (aith ce~ntest such ~ien by, or de(end enforcemene of such lien in, le- Ral proceedinRs which operate to pre~•ent the enforcement ot the lien or forfeiture of the Propert~ or any part thereof. 5. Harud Insunnce, BorroNer shall keep the impro~emrnts now existing or hereafter erected on the Property in- sured against loss by fire. ha~ards induded within tLe term "extendrd co~-eraRe", and wch other hazards as Lei~der may re- yuire and in sqch amounts and ior such periocis as [.ender maq require: provicled, that l.ender shaU not reyuire that the i amount o[ such co~•erage exceed that amount of co~•eraRe rec~uirect to pay the sums secured h}' this \tortRaRe. ~ The insurance canier pro~•iding the insurance shall be chosen by Borroher subject tn approcal b~• l.ender: proa•ided, E tl~at such appro~•al shall nat be unreau~nabi~~ h•ithheld. All Premiums on insurance ~x~licies shall be paid in the manner € pro~~ided under paraqraph 2 hereot or. it not paid in such manner, t~c BorroNer makinK pa}ment, when due, directly to ~ the insurance canier. 3 A11 insurance policies and rene~cals thereo( shall be in [orm acceptable to Lender and shall include a standard mort- ~ ~aqe clau,e in (a~•or o[ and in fotm ~cceptable tn Lender. Lender shall ha~~e the riRht to hold the policies and reneMals ; thereof, and Borrower shall prompd}• furnish to Lender all renew•al notices and all receipts of paid premiums. In the e~•ent ~ of loss. BorroNer shall gi~~e prompt notice to the insurance carrier and L.ender. Lender ma~~ make pr~( o( loss if not made ~ promptly by Borrower. ~ Unless Lender and Borro~er oeherr~•ise aRree in writinR, insurance proceeds shall be appliecf to restoration or repair o[ ~ the Property damaged. pro~•idecl such restoration or repair is emnomicall}• (easible and the securit~~ o( this \fortRay,e is not thereby impaired. If such restoration or repair is not economicaUy teasible or i( the securitr o( this ~tortRaRe would be im- ~ paired, the insurance proceeds shall be applied to the sums secured by this \torti{aRe, with the excess, it an}•. paid to Bor- ~ row•er_ If the Property is abandoned by BonoMer. or it Borrower fails to respond ta Lender uithin 30 da}•s from the date ~ notice is mailed by I.ender to Borrower that the insurance carrier o(fers to settle a daim for insurance henefits, Lender is ~ authorised to collect and applv the insurance prcxeeds at Lender's option either to rest~ration or repair of the Property or ~ to the sums securtci by thic ~lortqaAe. LJnless Lender and Borrow+er othen+ise ap,ree in writing, am~ such application n[ prcxeed~ to principal shall not extend or postpone the due date of the monthh• installments re[erred a? in paraRraphs 1 and 2 hcrcof or chanqe the amount of such in.tallments. If under paraRraph 18 hercof the Propert} is acquired b~• Lender, all riqht, title and intcrest o( Borrower in ;t and to am• insurance policies and in and to thc pr~xeeds thertof resultinR trom damaRe to the Propertc prior to the sale or acyuisition ~haD pasc to Lender to the extent of the sums secured b~- this ~fortAaRe immediatel~~ prior to suth sale or ~ atquisition. L~' 6. Prcsen•ation and ~faintenance o[ Pro~xrtv; Ix~seholds: C.ondominiums; Planned Unit De«lopments. Bonower ? sLall keep the Property in qood repair and shall not commit Naste or permic impairment nr deterioration o( the ProPerty and shall complr• Mith the pro~~isionc o( an}• leatie iF this ~tortRaRe is on a leasehold. If this ~tortf;aRe is on a unit in a _ condominium or a planned unit de~~elopment, Borrower shall perform all of BorroMer's obliRatians under the dedaration ~ or co~•enants creatinq or qoverning the eondominium or planned unit de~~elopment, the In•-laws and reRulalions of the condo- ' minium or planned unit de~•elopment, and cvnsti~uent docume?~ts. 1t a condominium or planned unit de~•elopment rider is E executed by BorroMCr and recorded toRether with this ~fortqaqe, the to~•enants and agreements of such rider shall be in- - cor~x~rated into and shall amend and supplement thc co~•enants and a~;reements of this \(ortRaRe as if the rider Nere a part - hereof. = T. Protection of Lenders Security. If Borrower fails to perform the co~•enantt and aRreements contained in this 's " ~fortRaqe, or i( an~• action or pr«eedinq is commenced Mhich materially a((ects Lender'~ interest in the Property, indudinR. ~ but no; limited to. eminent domain, in~l~enc}•. coele en[orcement. or arrauRements or pr~xeedinRs im~ol~inR a bankrupt ~r decedent. then Lender at I.euder's option, upon notice to Borrower. may make such appearan~es. disburse such sums ~ ' and take such action as it necessan• to protea Lender's interect, includinR, but n~~t limited t~~, disburument of reasonable attorne~'s (ce~ and entry upon thc Propertv to make repairs. It l.endet rcquired mortRaRe imurance as a condition of ~ 4 making the loan secured tn~ t'~is \IortRaRe, Rorrower shall pa~• the prcmiums required to maiutain such insurance in ef- ; fect until such time as the reyuirement (or such in~urance terminates in accorciance Nith BorroMeis and Lender's written ~ _ 60GK ~97 PA[:E ~2~ ~ , : - - _ ~ ~ ~ ~ - ` ~ -~-z, ~~`.4.~;~ ~ ti.;~x-~. . ; h . ~ . . ~ . ~