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Home My WebLink About0637 Ut+tEO~t~t OovaN~rns. oorrower ud Leader coveaant and a=ree u iollowt: L t4~~M ~f teMrdNl ri l~Mt~aA. 8orrowe~ shall promW~f Wy when due the principal ot a~d interat~ oo the iadebtedaat evideaoed bp tbe Note, pc~epaynx~t sn~ late clwr~ea ac provided in ihe Nde, and Me pritkipd ot wd iatetat oa ~ny Futuro Advaaces secund bp this Matjsja- l~rwi hr 71t~ a~i l~ee. Subjat to applicabk law ~x to a written waiver b~? I.ender. Hotio~ra sh~ll Pq to L.eoder on the day moMhly instdime~b ot principsl snd interest a~r payahk under the Nde. uMil lhe Ndt is paid in tu11. . a aun (1~erein "Fun~M'~ cqwl to a~-tweltth ot the yea~fy ~ax~~. anJ assasmmts which may atta~a priority over this ~ Mo~a~s, aad =round ~ena on cbe PropenY• it any, plus one-tweltth of yeatiy prem~um instailmenb tot hu,ard i~urance. , plus oae-twaltth of yearlY premium installment: tor mort~s=e inui~a~cc. it ~m?, all ss nasonabl~? estimated initialhr aod from time a tima by Lee~der oa t!x basa ot assasments aod bilh and rcasooaek estimata thereo[• - The Fu~ds shall be bsW in an inuitu~icx~ ~he deposiu or ~ccounts of which are insurod or Naranteqd by a Federal ot sta~e a~ene~? (includinj Leede~ if l.ender is iuch an institutionl. I.ender shall apply the Fw~ds to pay said tua. assdt~ts. : iawrance premiums and ~ound rcnts. 1_ender m~y not charje for sc~ holdins and applyins the Funcis. analyzins ~id ~ctou~~ ' or verifyin~sod oomqlin~ said asxssments and bilh. unku Lender pays Borro~ver. interat on the Funds and applicabk law petmits Lender to make utch a chaqe. Borrowe~ aad Lender may a~ree in writin~ at the time ot exaution ot this t Mortp~e that intuat on the flu~ds shall bo paid to Horrower. and unlas sucb aaroement is made or applicabk law ? rsquira wch intsrat to be paid.,l.ender shall not be required to p~y Borrowtr any interat or arnings oe the Funds. LenOe~ = s6a1! pve to Horro~rer. witlwut clur~e, an aoowl :ooountinj of the Funds shawi~t crodits aod debits to the Funds and the ~ _ purpose for ~rhich each debit to the Funds was made. The Fun~ sre plodaod as add~tio~a~ security for the sums securcd bY this Mortp~e• ` If tbe anwunt ot tbe~ Funds hdd by Leoder, together with the tuture monthly installments ot Funds payabk prior to tbe due data of tues. assessmeab. insurar~oe prsmiums and around re~ts. shall exoad the amount requircd to pay said taua. as~a~eats. inwnace premiums and ground rents as they fall due. such excas s.hall be. at Borrawe~'s oplion. either prompthr cepaid to Hornuwer or credited to Borrower on monthly installment: of Funds. lf t6e amount ot the Fun~ bdd by Liad~r st~aU aot be w~ieat to pay tues. a~asma~ts. insurance pcemiums and gcound rentt as ehey tall due. Horro~?er s6a11 pay to L~nder any amount necessary to inake up the deficiency ~?ithin 30 days trom the date notice is mailed by l~eader W Borrower requestina payment thereof. Upoa payment ia Eull of all :ums secured by this Mortgage, Lender shall promptly rcfuad to Borrower any Funds held by Lender. If undcr puaaraph 18 hereof the Property ia sold w the Propeny u othetwise acquired by [.ender. Lender sball apply. ra later than immodiately prior to the sak of the Propeny or its acquisition by Lender. atiy Funds held br I.eoder at the time of application as a crcdit against the sums secured by this Mortgage. 3. A~iicado~ ot Pq~me~tr. Unless applicable law pmvides othervvise. atl paymenu received by Lender under the Note and puag[ap~s 1 aod 2 l~ercof shall be appiied by l.ender fi~st in payment of amounts payabk to Le~der by Borrower undar paragraph 2 hereof. tben to i~terest payabk on the Note. then to the principal of the Note. and the~ to intercst and principal on my Future Advances. - ~ 1. C~efi I3eas. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributabk to the property which may attsin a priority over this Mortgag~, and kasehold payments or ground rents, if any. in the manner = provided under puagraph 2 heceof or, if na paid in such manner. by Borrower making payment. whea due. dirocdy to the psyee thereof. Borrower al~all promptly furnish to Lender att notices ot amounts due under this paratrsph. md ~n the av~~ Borrower sl~all make payment directly. Borrower shall promptly fumish to Lender rcceipts evideacing such paymenu. . ~ Borrower shall pranptly discharge any lien which has priority over this Mortgage: provided, that Borrower shall not be required to discharge any such lien so long as Borrower shall agrce in writing to the payment of tbe obligatiwn secured by . such lien in a manner acceptabk to Lender, or shall in good [aith contest such lien by, or defend enforcement of such lien iq kgal proceedings which operate to preveat the enforcement of the lien or fodeiture of the Property or any part theroof. S. Hssard iasrra~ce. Borrawer shall kcep.the improvements now existing or hereafter erected on the PropertY ~asured agair~st loss by 6rc, hazards includcd within the term "extended coverag~ and such other haurds u Lender may require and in wch amounts and for such~ periods as Lender may require; provided, that Lender shall not require that the amount of such rnverage exceed that amount of coverage required to pay the uims secured by this MortaaEe. 'Ibe imuranoe carrier pmviding the insurance shall be chosen by Borrower subject to apQroval by Lender. providod. ~ that wch approval shall not be uareasonably withheld. All premiums on insurance policia st~11 be paid in the manner provided under paragraph 2 hereof or, if not pai~ in such manner, by Borrower mating payma~t, when due, directly to tbe insurwce catrier. ~ All insuru~ce icies and renewals tnereof shall be in form accep~able to Lender and shall include a standard mortgage Pd . clause in favor of and in form acceptable to l.ender. l.ender shall have ihe nght to hold the policies and [et~ewals thercof. and Borrower shall promptly furniah to Lender all renewal notices and alt rueipts of paid prcmiums_ in the event of loss. Borrower shall give promp~ notice to the insurance carrier and Lender. Lerrder may make proof of loss if not made promptly by Borrower. ' Ualess Lender and Borrower otherwise agrce in writing. insurance proceeds shall be applied to restoration or rcpair of - the Property damaged. provided such restorat~on Qr repair is ecorwmically feasibk and the socurity of this Morigage is ; not thereby impaired. If soch restoration or repair is not economically feasible or i( the security of this Mortgage would be impaired, the insurance procetds shall be applied to the sums secured by this Mortgage, with the excesa, if any. paid _ to Borrower. If the ?roperty is abandoned by Borrower, or if Borrower fails to respond to l.ende~ within 30 days from the date notice is mailod by Lender to Borrower that the insurance carrier ofiers to settle a claim for insuraace bene6ts. Lender - ; is aut6oriud to collect and apply t6e insurance procceds at Lender's option either to restoration or repa'sr of the Propeny ~ or to t6e sums securod by this Morigage. ; Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due date of the monthly installments referred to .in paragraphs I and 2 hereof ot change the amount of suc6 installmeuts. If under paragraph 18 hereof the Prof,erty is acquired by Lender, all right~ title and intercst of Borrower in and to any A?surance E+olicies a~d in and to the proceods thereof resulung from damage to ttx Property prior to th~: sale or acquisition shall pus to Lender to the extent of the sums secured by this Mortgage immediately prior to such sak or uquisition. , f. Trescrvatioe aod Mainteaance ot Property; Lease6olds; Condominiums; Plaaoed Uait Derdo~~eats. Borrower shall koep the Propecty in good repair and shall not comro~t yvaste or permit impairment or deterioration of the Property aod shall comply with the provisioas of any lea~e it th~s Mortgage is on a leasehold. If this Mortgage is o~ a unit in a condominium or a planncd unit development. Borrower shall perform all of Borrower s obligations under the declaration or covenants creating or governmg the condominium or planned unit development, the by-laws and regulations of the : condominium or planoed unit development, and constituent Jocumen~s. If a conJominium or plannod unit development t rider is executed by Borrower and recorded together with this Mortgage, ~he covenants and agrcements of such rider ~ shall be incorporated into and shall amend and supplcment the covenants and agreements of this Mortgage u if the rider wcre a part hercof. 7. Proteclion of Leoder's Stcurfty. If Borrower fa~ls to perform the covenanls anJ agreements contained in this Mortgage, or if any action or proceeding is cummenced which materiatly aRects Lender's interat in the Propeny. including, but not limited to. eminent domain. insolvency, code enforcement, or arrangements or proceedings invoh•ing a bankrupt or decedent, then l_ender at I.ender's option, upon notice to Borrower, ma~• make such appearanca, disburse sueh sums and take such ac~ion as is ne:.essary to prolec~ l~nder's interest, including. but not lim~ted to, disburxment of reasonable attomey's tees and eniry upon thc Properry to make rcpairs. I[ Lcnder reyuircd mortgage insurance as a condrtion of mak~ng the loan secured by ~h~s Mongage. Borrower shall pay ~he premiums requireJ to maintain such insurance in effect until such time as the reyuirement (ar wch ~nsurance term~nates in accordance with Borrower s and . . ' f, ~ Q ~+n ~ ~ :.::~;x ~V ' P~Cf UJ7 ~ _ , ~ - w - - ~ ~ ~ ' ~ _