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Home My WebLink About0299 . t • i ~ ~ ?4 ! 1 . [ t E i Borrowe~ and Lerrdu oovenaAl urd a~ree eu fulbws: f 1. Psymeat ot Priecip~l and Iatere~~ Bo~rower ~hall pmmpQy pay when due the principe~l ot ar?d interat on the indebtedne~a evidenoed by th~ Note, pr~payn~nt and lete charRes a~ provided in the Note. a~?d the principal oi and interest on any I~ture Adva~ces secured by chl. Mo~yce. 2 Ftiwd~ tor Ta~ce~ aad Iwwrsaoe. 3ubject to applicable lew or b a wrilten waive~ by Lender, Borrower rhal) puy to I.ender on the day monthly itutallroeats ot priacipal end interest are payabk uader the Note. u~W the Note is paid in fuU. a~um (herein "[+'und~") equa! b ot~s tweltth o[the yearly ta:e~ and a~se~amonta which aiay attein priority over tbia MortQa~e. and ~round rentr on the PropeKy. ilany, plw oas twelhh of yearly pranium inataltmentr for hasard in~urance. plw onstwelRh otyearly premium in~tailmenta for mort~age uuurence, itany. di e~ reaw~~bly e~timated initially sad hoca time b time by l.ender on the baais of a~se~sment~ and billa and reaaonable estimates thereot. 1~ Fhnd~ ~baU be hdd in ~a inslitution th~ depwits u~ aa~ouab o[ which ars uuursd os ~uaranteed by ~ Federd or Siaie ageacy (includia~ Iwader it Leade~ u wch an inatitutioa~ [.eader shall apply the Ftindi to pay said tases, as~e~neats. iiuuranae premiupn~ and ~ronnd nnta. tender may not chu~e fo~ ~o holdie~ aad applyins the P1~nd~. enalyzinB ~aid aocount, or verityins end oompilia~ aaid we~saa~t~ sad biW, nnles~ Leader psy~ Borro.ver intere~t oa the I~Lnda and applicabk law pennita l.ender to malce such a chsryte. Borrowe~ F and I.end~e msy a~ree in writin~ at the tirae of e~cecution of thi~ Mort~ege'that intere~t oa the FLnd~ shsll be paid to Borrower. and unle~a such e~re~t iu made or applicabk la~t requires ~uch intere~t to ba paid. Leader shall not be required to psy Borrower any intere~t or earnin~~ oa t6e Phnd~. Lend~ shall give to Borrower. aithout charQ0. an annual aooountin~ of the Ftinds ~howin~ credib and debits to the Funds aud the parpwe for which each debit_to tbe Ftind~ wau made. The Ptinds ere pledQed aa addittonal aecurity [or the ~uma ~scured by this Morl~a~e. If the emount of the P1wds held by Leader. tagNher with the future mo~thly insLallments olFnnds payable prior to tbedue dates of t~e~. esses~menta. uunraaoe premiums and ~round rents. aliall esoned the amoont required to p~y said taxes. a~ae~smeata~ insuranoe premiuma and ground rents e~ they faU due. snch esoess ahall be, et Boirower's optio~, eitber pmmptly repaid to Borrawror or credited to Borrower on monthly insfallments of I~nd~. If We amouut of the Fbnds held bY Lendar shall not be s~icient to pay tasa. a~raents. insuranoe preauum~ and grotuid r~f~ aa they fall due. Bosro~rer shaU pay to Lender any amount neoeasary to make up the de8ciepcy within 30 deys from the date notice iu mailed by Lender to Borrower requesting payment thereo! Upon payment in tnU d all suau secnred by this Mortgage, I.ender ~hali promptly nfund to Borro~rer any tunds held by Lender. U under paragraph 18 hereof We Property ia soW or the Praperty iu otherwiae acqui[ed by Leader, [,ender shall apply. no laees,th*n im~qqdiately prior b the sale of the Property o~ its aoquisitior? by Lendes. any ~nds held by Lender at the time of appGcation aa a cre~it a~ai~t th~~ums ~ecured by this Mo~e~e. . ~ ~ C 3. Application ot Paymeata. Unleas applicabk law provides otherwise. all payments noeived by ~nder ~nder Qie Note aad paragraphs 1 and 2 hereot shall be applied by I.ender fint in payment of amounts payable to l.ender by BorrovrR ~P~~~ ph 2 hereof, then to intered jieyabk on the Note. thea to the principal of We Note, and then to intereat and principal on Aaiancea. 4. Char~es; I.ien~. Borrower shall pay all taxea, aaaessments and other charges, fines and impositiona attri tabldW e~bperty which may attain a priority over thie Mortgage, and leasehold payments or ground rente, if any, in the manner provided t?~r j~r - h 2 hereof or, it not paid in such manna, by Borrower malcing pe~yment, when due. directly to the peyee thereo! Borrower sh p~±om~tl~~'u iah to Lender ~ all notices of amounts due under thia paragraph, and in the event Borrower ehall make payment directly, Borr~ erlh¢ll ~o tly [urnish to i Lend~ receipta evidencing auch paymenta. Bosrower sha11 pranptly discharge any lien which hea priority over t~ia Moit~ag~provided, that ~ Borrower shall not be required to di~charge any such lien so long as Borrower shall agree in writingto the payme~t ofihiobligadon aecured by ( such lien in a manner aooeptable to Lender. or shall in good faith rnntest such lien by, or defend enfon~ement of~ucb lien in, le~'al proceedings t which operate to prevent the enforament of the lien or forteiture of the Property or any part thereof. ~ 5. Hazar~ Inwranoe. Borrow~ shall keep the improvement~ now acisting or heresfter erected on the Prop~rrty inaured against loea by fir~ hazarda included within the teria "extended ooverage," and euch other hazards ea Lender may require and in wch amot~ts and for such ~ periodsa~ I.ender may require; pmvided. that Lendes shall tat require auch oovesage amount e:ceeding the minimum, as majr be required by ; state or federa) regulations goveming activities of I.ender. or that amou~t of coverage required to pay the auma ~ecured by thia Mortgage, whichever is the greater. ~ . ` 'I~e inaurance carrier providing the ineurance ehall be chosen by E3orrower aubject to approval by I.ender. provided, that auch approval ~ shall not be unreasonably withheld. All premiuma on ineurance poliries ahall be ps~id in the manne~ pmvided under paragraph 2 hereof or, if not paid in such manner, by Horrower making payment, when due, directly W the ineurance carrier. All insuranoe policies and renewab-thenof shall be in [orm aooeptable to l.ender and shal! inctude a standard mortgage claose in favor of and in forw acceptable to Lender. I.ender ahaU have the right to hold the policies and renewals thereof, and Borrowu ahell pmmptly furnieh to i.endet all renewal notioes and all receipts of paid premiums. In the event of loss, Borrower ahaU give prompt notice to the insurence carrier and I.ender. [.ender may make proof of lws if not mede prompdy by Borrower. ~ Unleu I.ender and Borrower ot2ierwisE earee in writina. insnranoe orooeeds shall be aoolied to restoration or reoair of the Prooertv damaged. provided snch restoration or repair ia economically feasible and the security of this Mortgege ie not thereby impaired. If such i reetoration or repair is not eoonomically feasible or i[ the eecurity of this Mortgage waild be impaired. the insurance prooeeds ahaU be applied ~ ~ to the sums sec~u~ed by thi~ Mortgage. wilh the acceas. if anY, paid to Borrower. Itthe Property ia abandoned by Borrower. or i! Borrower taits to nepond to I.ender writhin 30 daye irom the date notice ia mailed by I.ender to Borrower thet the insuranoe carrier offera to settle a claim for ~ inenranoe benefib. Lender is anthorized to collect and epply the insurance prooeeds at Lender'~ option either to re~toretion or repair of the r Property or the sumi recured by thir Mortgage. ~ Unleas Lenda and Borrowrer otheiwise agree in writing, any such application of prooeeds to principal shall not actend or postpone the due ~ date of the moathly instatlments referred to in paragraphs 1 and 2 hereof or change !he amount of such inatallments. If nnder paragraph 18 hereof the Property is uaquired by I.ender. aU right, title and intereat of Borrower in and to any insurence policies and in and b the pmceedi ~ thereof resulting from damage to Prope~ty prior to the sale or aaquiaition shall pass to Lendet to the ~tent of the ~ums ~ecured by thie ~ Mort8a8e immediaLely prior to nu~ ~ale or aaqniatioa. 6. Preaervadon and Mdntenance of Property; Lesaebolds; Condominuma; Planned Unit Developmenta. Borrow~ shall keep tbe Property in good repair and shall no! oornmit waste or permit impairment or deterioration of the Propedy and ahall oomply with the proviaion~ of any lease if this Mortgage is on a leasehold. If thia Mortgage ie on a unit in a oondominium or a planned unit developmen~ Borrower ahall pertorm all ot Borrowds obligations ~nder the declaration or oovenants c~tingor governing the oondominium or planned ~ unit developmeot, the by-laws and regulatiow of the oondominium or planned nnit development, and oon~tituent documents. If a oondominium or planned nnit development ridtr ia e:ecuted by Borrower and reoorded together with this Mortgage, the oovenanta and agreemente of such rider shall be incorporated into and ehaU emend and supplement the oovenante and agreements of thie Mortgage aa i[the rider were a part hereof. ~ 7. Protectbn ot Leader'~ Secarit~. If Borrower fails ~o per[orm the oovenant~ aad agreement~ ooatained in tliis Mort~age, or if any ~ action or prooeedin~ u oo~nmencxd which meta~islly effect~ Lende~~ intenst in We Prop~ty. includin~. but not limited b. emineflt domain. ~ inwlve~cy. oode enforoemen~ ot arrao~emen4 or prooeeding~ involvin~ a banlQUpt or deceden~, thea I.endar at Lende~s option.npon ~ ~ notioe to Borrower may meke ~ncb appearanoe~. disbune ~nch sums and take wch ~etioa ar ia aeoewary to proteet Lender's int~ecest, ~ ~ indndin6. bat not limited to. diabuneaaent af rea~onable aLtorney's fees and aitry upon the Propsrty to make repair~. It Leadar reqnired ; mozt~aae icunranoe as a ewndition of making the lo~? ~ecnred by thia Mo~t~+~0. Borrowe~ shall pay the preminm~ reqnirsd to maintain ? ~ ~nch insaranca in e~ed nntil ~nch time ai the requisement for ~nch insurance terminate~ in socordanoe wiW Barrower'~ and La~dd~ # written agreement or applicable I.aw. Borrowrer ~hall pay the amonnt of all mortgage inauranoe preminma in the mannes provided ander ~ D+~ra~raP6 2 hueof. ` My ~mounts disburaed by Lender penuant to thii paragreph 7. ~I/IZII IA~E!!it ~lElEOA. shaU beoome additional indebtedness of k ~ Borw~ver ~ecured by thi~ Mortgage. Unlea Borrower and I.ende~ agtee to other term~ of payment, ~och atnount+~ ~hall be payabk upoa ~ ~ notioe trom I.enda to Borrower requesting payment thereof. and ~hall bear interest trom the date of disbursement at the rab payable hom ~ time b time on outstanding principal nnder the Note unle~s payment of intereat at ~uch rate wonld be wntrary to applicable law, in which event ~uch amonnta shall bear intere~t at the highest rate permis~ible under applicable laa. Nothing oontained in tl~is paragraph shall reqnire La~der to incw any e:pense or take any action hersunder. ` ~ ~ ~ ooK ~.99 ~-99 ~ - ~ ~ - ~ . . . , ~ : - _ ~ 3 .,'tlr~~-. ,v . _ . . _ . _ J 2 _.ha~:a ~