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Home My WebLink About0930 Borrower snd l.onder ooveaant and a~ree ai [olbwr 1. Pa~?meat oi P~iacipal and Ineere~t. Horrower ahall promptly pay when due the principal ot and inte~est on the indebtednee~ ~videaced by the Note. psepaytact~t ar~d late char~e~ a~ p~ovided in the Note, and the principal of and intere~t on any PLture Advances ~ecured j bY thu M~+~~• t 2 FLad~ to~ Twse+ u?d lasureu~os. Subjact to applicable law or b a written waiver by Lender, Borrower shall pey to Lender on the day mo~thl~r irutallu?er~ta ot principal and intabst ue peyab4 under the Note. unW the Note is paid in fuU. a aum (hereia "F~ndi") equal to ons twelRh of the yeady taxes and a~~menta which may attain priority over this Mor/QaQe, and ground rente on the PropeKy, i[any, plw ons tweltth of yearly premium installmenb for hasard iniurance. plw onetweltth of yearly premium instalimenta for mortgaQe insurance, if any. all a~ rea~onably estimated initially and from time b tiane by I.ender o~ the basu of saaessments and billa and reasonable estimates thereof. Pbnd~ ~hall be heW in aa in~titution the depwib or acoount~ oi which are in~ured ~ ~uaranteed by ~ Federal or State uQency (includin~ Lender ii Leader i. such a~ ia.acuaon). Lender shall apply the Funda to pay ~aid te:e~, sa~esementa, in~urance premiurns and - ~e~onnd renb. Lender me~y not char~e tor ~o holdin~ aad applyin~ ths I~Lnds. analyzin~ wd aocount, or verifyinR and canpilinQ said ~ an~aneat+r end biU~. nnlew Lender pey~ Borrower interest on the F1nd~ and applicable law permit~ l.ender b meke such a charge. Borrower and Lend~ may asree in writin~ et ehe tiaae of e:ecution of thia Morega~e tbnt interest on the FLnds ahell be paid to Borrower, and unle~s ~uc~ a~reemept i~ made or epplicabk laa reqnires wch interest to be paid. t,end~ shau not be r«iuired to puy Borrower ~,y tne~re.t os . ~ eerninln o+~ We PLnd~. I.end~ ~hall ~ive to Borrower. without charge. sn annuel aooounting of the Fundi ahowing credib and debib to the Fuud~ aad the parpwe for which eech debit ta the Ftinds was inade. The Funda are pledged ea additional security for the suau secured by t!w ~ Mort~a~e. • - It We amount oi tbe PWnd~ held by Lender. to~ether with the future aanthly irutallments of Fhnds payable prior to the due datea o[taser, a~seWenenta. in~orau~. pzeminms snd Qround rents. ahall esaaed ehe amouat required eo pay said taues, ~weesment~, insuranoe premiume snd ~ronad reuts a~ they lsll due, ~uch e:oeM shaU be, at Borrow+ele optioA, either pmmpdy repaid to Borrower or credited b Bono~rer on moothly uutellma?ts of Ptu?d~. U We amount oi the Funds he~ by Lead~ ~hall not be sufficient to pay ta:a. a~ae~sm~ts~ iaaurance preminms snd ~round renb eu tbey faU dne. Borrower shall pay to I.endes any amount necessery to wake up the de6ciency within 30 days from the date notiee u mailed by Lender to Borrower requesting payment thereof. Upoa p~yu?~at ia tull of aU ~nma ~ecured by thia Moitga~s, I.ender shall praapdy refund to Borrower any funds held by I.endrr. Itunder paragraph 18 hereof the Property u sold or the Property iu otherwiie acquired by Leader. Lendrr shall apply. no later than immediately prior to the ~ale ot the Property o~ its aoquiritiou by Lender. any FY~nda held by Lender at the time of appGcation as a cndit againet the eums secured by ehi. I1~ortgaQe. _ E 3. Applk,ation ot paymenta. Unles~ appliceble law pmvides otherwise. all paymen4 received by Lender ander the Note and para~raphs 1 snd 2 hereof shall be apptied by Lender firet in payment of amounta payable to Lender by Borrowrr under paragreph 2 hereof, then to interad payable on the Note, thea to the principel of the Note, and then to intec~t and principal on any I~ture Advanoe~. . t 4. Char~ea; I.ieae. Borrower shall pay all taaes, aaseasments and other chargea, fines and impoeitions attributable b the Property which 1 may attain a priority over this Mortgage, and leaaehold payments or ground renta, i[any, in the manner provided under paragraph 2 hereof or, s if not paid in such menner, by Borrower malung payment, when due, directly to the payee thereof. Borrower shall promptly furniah to I.ender ~ all noticee of amounta due under thia paragraph, and in the event Iiorrower ehali make payment directly, Borrower ehall prompUy fumiah to ~ [.ender reoeipts evidencing euch payments. Borrower shali promptly diacharge any lien which has priority over thie Mortgage; provided, that t Bortower shall not be required to discharge any auch lien so long as Borrower ahaU agree in writing eo the payment of theobliqation aecured by ~ sua: iien in a manaer aoceptabk to I.ender. or shall in good faith contest such lien by, or defend enforrement o[auch lien in, legal proceedings , ; which operate to prevent the entorcement of the lien or forfeiture of the Property or any part thereof. . 5. Hazard Ins~uanoe. Borrow+er shall keep the imptovementa aow e:isting or hereaker erected on the Property insured against loas by fire, hasards induded ~rithin the term "e:tended rnverage," and such other hazarda as Lender may require aad in such amounts and for such pe:ioda as Lender may requin; pmvided, that Lender shall not require such ooverage amount e:ceeding the minunum, ae may be required by state or federa! regulations governing edivities oi Lender, or that emount of coverage required to pay the sums secured by this Morigege, whichevet is the greaGer. The inaurance carrier providing the insurance shall be chosen by Eiorrower aubject to approval by I.ender, provided, that auch approval ~ shall not be unreaaonably withheld. All premiums on ineurance policies ahall be paid in the manner provided undet paragraph 2 hereof or, if s not paid in wch manner, by.E3orrower making payment, when due, direclly to the inaurance carrier_ All insurance policiea snd renewale thereof eha11 be in form eoceptable to Lender and shall include a standard mortgage clauee in favor of aad ia form aooeptable to Leader. Lender ahall have the right to hold the policiee and renewala thereof, and Borrower ahall promptly tumieh to i.ender all renewa~ notioea and all receipte of paid premiums. In the event olloss, Borrower ahall give prompt notice to the inaurance carrier snd I.ender. Lender may make proof ot loss if not made prompdy by Borrower. Unleas Lender and Borrower otherwiae agree in writing, inauranoe praceeda shall be applied to reatoration or repair of the Property damaged, peovided such restoration or repair is ecoaomically [easible and the security of thie Mortqa;[e is not thereby impaired_ Tf ~uch restoration or eepair is not eoonomically feasible or J the security of thia Mortgage would be impaired, the insurance pmceeds ahal l be applied to the suma iecured by this Mortgage. with the eucess. if anY. Paid to Borrower. If the Property ia ebandoned by Borrower. or if Borrower faiL to ' reepond to I.rnder within 30 daye from the date notice ia mailed by Lender to Borrower that the inaurance carrier oPfers to eetde a claim for inawanae benefits. I~nder is aathorized to collect and apply the inaurance prooeeds at Lender s option either to restoration or repair of the i Property or the suma secured by this Mortgage. ~ ~ Ualess Leader snd Borrower otherwiee agree in writing, any auch application of p~+ooeeds to principal shell not e~ctend or poetpone the due ~ date of the monthly installmenta referred to in paragraphs 1 and 2 hereof or change the amount of snch installmenta. If under paragraph 18 ~ hereof the Pmpaty is aoquired by Lenda, all right, title and intec+est of Borrower in ead to any insuranoe policies and in and to the proceeds ~ thtreof resulting from damage to Property prior to the aale or aoquiaition shall pass to L,ender to the ~tent of the sums secured by this _ ; Mortgage immediately ptior Lo such eale or aoquisition. f ~ 6. Pre~ervation and Maintenance otProperty; Leaseholds; COlfaOD11DYIDf~ Planned Unit Developments. Borrower rhall keep f the Property in good repair and shall not rnmmit waate or permit impeirment or deterioration ot the Property and ahell oomply with the ~ provisione of any leaae if this Mortgage is on a leaeehold. If this Mortgage is on:a unit in a oondominium or a planned unit developmenL, ~ Borrower shall perform all of Borrower's obligations under the declaration or covenants rreatingor governing the condominium or planned ; unit development, the by-lews and regulations of the condominium or planned unit development, and conatituent documents. If a~ o~ndomininm or planned unit devebpment ridrr is e:ecuted by $orrower and recorded together with thia Mortgage, the ooveaants and agrcements of such rider ahall be inrnrporated into and shall amend and supplement the covenanta and agreements of this Mortgage as if the rider v?ete a part hereof. . 7. Protedion ot I.ender'~ Securit~r. If Borrower faib to pe:form the oovenent~ and agreement~ oontained in thia MorsgaQe. or if any ~ action or p:ooeedins u oommeaoed wtuch mateiaUy affects Lnde~'~ interest ia the ProPertY. inclnding, bnt not limited to. euiinent domain, ~ in~olveacy. oode eaforcimeat~ ar arrangemenb or prooeedings involvinQ a banksnpt a decedent, then Lender at Lender's option.npon notioe to Bormw~e` may make sucL appearanoer, disbnne such rnzw and take ~nch action as u necwary to proted Lendd~ intae~t~ ~ indnding. bat not limited to. di~bnr~eme~?t of naaonabk attorney'~ feea and entry upon tbe Property to make npairs. If Lender req.uired . ~ mat8+~e insnrance ai a oondidon of making the loan ~ecvred by thii MortBaee, Borrorver ~hall pay the pe+emium~ reqnired to maintain ~ ~ tQC}l IdIIi~lOe ITl !~lCt YIl~II i1lC}I hQIE 8~ ~1! f8Q111!lmEllt fOi ~IICII IO/UTQDOE ~D1f18~ IIf YOCOTdBIN~E ~Il~l BOTiO~1/Q ~ SAa I~EIIdQ~~ ~ ; wri~ a~reement ar applicable Law. Borrower ~hell pey the amonnt of aU mortgage inwrance preminms in the menner provided under t t paragrapb 2 baeoi ' . ° My amonnb di~barsed by Lender penuant to thia paragraph 7, with intereat thereon, shal! beoome addidonal indebtednew of ~ Borrv~?es ~ecured by t}?is MmKgage. Unless Borrower aad [.ender agree to other tum~ of payment, such amounts ~hall be payabk npoa ~ notioe irom Lender to B~e~t requating peyment thereof, and shaD bear intsre~t trom the dete of diabunauent at the rate payable firom ~ time to time on outstanding principal unda the Note anless payment of interest at such rate wwild be oontrary to applicable law, in whic6 ~ ~ eva~t ~uch amounts ahall bear intereat at the highest rate permiasible under appGcable law. Nothing rnntained in this paraQraph 7, shall • a ~ oequire Lender to ineur any ~pense or take any action hertunder. s ~ s ~ ~ ' g~P~ 299 ~E 930 ~ ~ s~ ~ " ~ ~ - ~ _ - - ~ ~ "-'~''~'-'~c'~s ~e: rv a - ~ . . ~c.~ ,c . . .3.~ '°~~?°~~Y~'~~ ' " c. ,