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Home My WebLink About0643 , 1 • ' Unt~ou~t CovaNS~ns. aort~orvsr and l~nder coveoant a~d s~roe u tdlows: 1 h~w~M hiewl a~i IMe~eO. 8orrowe~ shall promp~l) WY wfien due tbe priocipal ot aod iatero~t on the indabtednea evidenoed b~? tl~e NWe, prepayment snd late cfwrjes ~.s provided in the Nde. and the pcincipd o[ and inte~+est oa a~r Futuro Advances ~ecw~ed b~? this Mort~sse. 2. ~~i hr 71~~s ri l~w~ea 5ubjat to applicabk law ~x to a writtee waive~ by Lender. Bomows~ ~a11 WY to Lender oe the dar monthlp installments ot p~incipal and interes~ ate payaMe uedet the NWe. u~til the NWe is paid in tull. s tum (Mrcin "Fw~'~ eqwl to one-twelfth of the yea~1~~ tax~~ an~l assas~nen~: which may attain priorit~? over this 1Kott~a~e. aad ~round t+eab on tAe Proputq. ~r ~~r.. pius one-twelfth of yea~ty premium iaualiments for t~asard inw~ance. • plus ooe-twel[U ot yearly premiwn installments for morttase inuirance, i( any. all as reasonably estimated initially snd trom time to t~me bp I.lader on the basi: of sssessments and hills a~d rcasonsbk atimata thereof. 'Ibe FLnds ~all be beld in w instituticm the deposia or accouna of Mhich are iesured or ~uanoteed by a Fsdenl ot state ajency (includi~~ La~der it Lender is such an iostitutionl. ~.ende~ snau ~ppiy ~oe rw~os co p~y saeu ~a,?w. s~«~~:•:. iawranoe premiums and Swuod roots. I.ender may not char~e for se+ holdin~ and applyins the F~mds. aoalyzin~ ~ald accoun~ . or vaifyinsand canpilin~ said assessmeots and bills, unlas Le~der pa~ys Borrower iotercst on the Funds and applicabk. law pernatt L~der to make such a char=e. Borrower aad Lender may a~ree in writins at the time ot eaecution ot this Mo~t~a~e that interat o~ the F~nds shall be paid to Borrower. and unkss sucb atroeme~t is made or applicabk faw requites wch iaterat to be paid. Lende~ shall not be rcquirod to pay Bo~rowe~ any interest or arnings on the Funds. l.ender ~11 pve to Bomower. witlaut char~e. s~ annwl accountina of the Fur~ds showina credits a~d debits to the Fut~ds and the purpose Ior which ad~ debit to tl~e Funds was made. The Funds are pled~ed u additiooal security for the sums secured by this Morys~e. . If tbe amount ot tbe Fund: beld by Lender, toge~her with the future monthly installments of Funds payabk pr'wr to tbe due data of taxa, aasasments. in~uance premiums and ground rents. shall excad the amount rcquired to pay said tua. aawments. inwranrs praniums and acound reets u they tatl dsie. such excess shall be. at Borrower's option. either proa~ptly repaid w Bort~ower ot .aedited to Borrower on monthly installment: of Funds. lf the amount ot the Funds 6dd~bgr I,ender s1aU aot be wt6cieat to pay tues. asses.unents. insurance pcsmiums and ground rents ss they fall due, Bomo~rc~ tbaU pay to Irender any amount aectssary to make up t6e deficiency within 30 days from 1he date notice is mailod by I.,eader to Borrowa ~'e4~~i P~Yme~t thereof. ~ Upoo pa~noeot in fuU of all suna ~ecured by this Mortgage, Lender ~all promqly refund to Borrower. any Fun~ held by [.eader. If uader pus~caph 18 bereof the Propeny ia sold or the Propeny ~s otherwise acquioed by Lender. l.ender s6a11 spply. no later than ima~ediately prior to the sak of the Property or it: acquisition by Lencfer. any Fundc held bv I.eoder at the time of applicatan ~ a credit against the :ums socured by this Mortgsge. 3. A~Ycatio~ ei lq~eds. Unlas applicable law_ provides otherwise, all payments roceived by Lender under the Note snd puagtaphs I snd 2 hercof shall be appliod by Lender first in payment of amounts payabk to Lender by Borrower under parasraph 2 liereof. t6en to interat payabk on ihe NWe. then to the principal of the Note. and then to interest and ptiacipa! on any Future Advanoes. 1. C~e~ Iie~s. Borrower shall pay all taxa, assessments and other charges. 6oes and impositions anributable to tbe Pr~operty ~vhich may attain a priority over this Mortgage. and lessehold payments or ground rents. if any, in the mtnoer provided uader panaraph 2 hereoE or, i[ not paid in such manner, by Borrower making payment. whw due, diroctly to the payee tbereot. Borrower sl~all pranptly fumish to Lender all notices of amouats due under this parsjrapb. aod io tbe e~?ent Borrower shap make payment diroctly. Borrower shall promptly [urnish to Lender receipts evidencing such paymenu. Borrowa shall promptly discharse any lien which hu priority over this Mortgage; provided, that Borrower shall not be requircd to discharge any such lien so bng u Borrower shall agree in writing to the payment of the obligation secured by suc6lieh in a manner aceeptable to Lender, or shall in good faith contest such lien by, or defend enforcxment of such lien iq kgal proceedings which operate to prevent the enforcement of the lien or fodeiture of the Property. or any part thereof. S. Hsr~rd Iawra~ee. Borrower shall kap the improvements now existing or hereafter erected on the PropertY ~nsurod against loss by fire, hazards includod within the term "extended coverage", and such other hazards as l.ender may require aad in such amounts and for such periods u Lend~r may requirr; provided, that Lender shall not require that t6e amount of • such coverage exceed that amount of coverage requircd to pay ~he sums securcd ~by ~his Mortaaae. 'Ibe inwranoe carriei providing the insurance shall be chosen by Borrower subject to ~tpQroval by Lender, providcd. t6at wch approval shall not be unreasonably withheld. All premiums on insurance policies sha11 be paid in the manner I provided under paragraph 2 hercof or. if not paid in such manner, by Bonower making payment, when due. dinctiy to the ( iowtance curier. All insurance policies and renewals thereof shall be in form acceptable to l.ender and shall include a;tandard mortgage clause in favor of and in fotm xceptabk to Lender. Lender shall have the rig6t to hold the policia and renewals thercof. and Borrower shall promptly furnish to Lender all renewal notices and all rcceipts of paid premiums. in .the event of lo"ss. Borrower shall give prompE notice to the insurance carrier and Lender. Lertder may make proo[ of ioss if not made promptly by Borrowe~. Unless [.ec~de~ and Borrowe~ otherwise agree in writing, insurance proceeds shall be applied to restoration or rcpair of the Property damaged, provided such rcstorat~on or repair is economically feasible and the security of this Mortgage is not thereby impaired. If wch restoration or repair is not economically feasible or if ~he security of this Mortgage would be impaired, the insurance procoeds shall be applicd to the sums secured by this Mortgage, with the excess. if any, paid to Borrower. 1t the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days trom the date notice is mailed by Lender to Borrower that. the insurance carrier ofiers to settle a claim for insurance benefits. Lender . is authorized to collect and apply the i~uuru~ce procoeds at Lender's option either to restoration or repair of the Propertv or to t6e sums securod by this Mortgage. Unless Lender and Borrower otherwix agree in writing, any such application of proceeds to principal shall not.extend or postpone the due date of the mon~hly installments referrcd to in paragraphs I and 2 hereof or change the amount of suc6 inslallments. If under puagraph 18 hereof the Prof,erty is acquired by Lender, all right, title a~d intercst of Borrower in and to any ihsurance policies and in and to the proceeds thereof resultmg from ~damage to the Property prior to th~ sale or aoquisition shall pass to l.ender to the extent of the sums secured by this Mortgage immediately prior to such sale or acquisition. - . i. rireserratbo aod Naintcoaoce ot Property; Leasehold~ Condamiaiums; Planaed Udt De~ebpn~eats. Borrower shal! keep the PropeRy in good repair and shall not comrDit ~vatte or permit impairment or deterioration of the Property aad shall comQly with the provisions of any lease if this Mortgage is on a leasehold. I( this Mortgage is on a unit in a coodominium or a plann~d unit development. Borrower shall perform all of Borrow~r s obligations under the declaration or coveoants creatiog or governing the condominium or planned unit development, the bylaws and regulations of the condominium or planoed unit development, and constituem documents. If a condominium or planned unit development rider is eaecuted by Borrower and recorded together with this Mortgage, the covenants and agreements of such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Mongage u if the rider were a part hereof. 7. Yrofectiou of Lende~'s Secudty. If Borrower fails to perform the .covenants and agreements contained in this Mortgage, or if any action or procad~ng is rommenceJ which materially aBects t_ender's interest i~ the Propeny, including, but not limited to, eminent domain. insolvency. code enforcement, or arrangements or proceedings invol~•ing a bankrupt or deceden~, ~hen Lender at l.tader's option, upon notice to Borrower, may~ make such appearances, disburse such sums and take auch action as is neces~ary tu prolect Lender s interest, including. but not limited to, disbutxment of reuonable attomey's (ees and en~ry upon the Property to make repairs. lf Lcnder required mortgage insurance as a condition o( making the loan secureJ by this biongage. Borrowrr shall pay the premiums requireJ to maintain such insurance in etTect until such time as ~he rcquiremen~ for wch insuranee termmates m accordance with Borrower s and ~ s~~.x i ~ . ~ k 299 PaGf 643 ~ . ~ - K ~ " i~h~`.~ '3'~,a-'~'.. ae . .~.~~ray''~ a EA ~r.~> >.ta~ a