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Home My WebLink About0100 . t 'J Fw~ower aMi Iunuer cvvr~~ai and ar~ee a,~ iuiiow~: 1. Pa,ymeat ot Priacipal and Iatere~~ BorroweT ~hall pmmptly pay when due the principal o! and intered on the indebtedna~ evideaoed by the Nots, prepayment and leite chu~e~ as pcovided in the Nots. and the principal of and inter~t on any Ftiture Advanoeu ~ecured by thi. Mort~a~e. . 2 PLada for T~atea and In~uraaoe. 3ubject to applicable law or to a written waiver by l.ender. Borrower shall p~r to Lender on the de4Y monthly installmeata of principal and iaterest are p~yable under the Note. until the Nob u paid in tu11. a sum (herein "Fuad~'ry equal to oas twelfth of the yearly ta:es and aaseaament~ which may attain priority over thie Mortgage. and ground renta on the Propedy. iEaqy. plw oaa twelRh of yearly preanium installmenls for hasard inauranee. plua ono-twelRh of yearly preraium i~stallmeAts for mortgage insurance. if any, all as ieasonably estimated initially and fmta time to time by Lend~ on the basis of aaeesennents and bills and reasonable eatimates thereof. 'lUe P1~nd~ ahall be held ia aa institation the deposi4 or aaouats of which ars innu+ed or gaaranteed by a Federal or 3tate agency (inclnding I.ender if Leader is such an uutitution~ Lead~ shall aPP1Y the PLnds to pe~y said ta:es. asse~amenb. insuranoe premiums and Qround ra~ts. Leader may not charge [or so holding and applying the Fl~nds. analyzing said aooount~ or verifyinQ aad oompilinQ said assessmenta aad biW. ut~lesa Lender pays Borrower intereat on the fi~nda end applicable law permits I.ender to make such a charge. Borrower . 'and Lead~ me~y egree in writiag at the tinae of esecution of this Mortgage tbat interesL on the ~Lnds shap be paid to Borrower. and unless ~uch o~greement is made or applicable law requires snch intero~t b be paid. Leader ahall aot be nquired to pay Borrower aay intere~t or earniaQs oa the FLnds. Lender ahall give to Borrower, withou! cherge, an annual aooounting of the Funda ahowing rredits and debife to the I~nds and the pnrpo~e for wtuch each debit to the fi~nds was made.l7~e F~nda are pledged aa additional eecurity for the eums secured by this Mortgage. If the amount of the Pbnda held by I.ender. together with the future monthly instaUments of Funds payable prior b the due dates of taues. aasessments, ineuranoe pnmiums and ground rente~ 8218~I CIO~ ~}IC 801011I1t lEQLLI[~ ~O p~t 881d L6IC~. BD~EA61II8A~A. inaurance premiume and ground rents as they fall due. such.~cess shaU be. at Bonower s optioa, either promptly repaid to Borrower or credited to Horroweron monthly installments of Phnds. V the amount of the F~nds held by Lepder shaQ not be sn~ficient to pay ta~ces. aases~nents. insarance premiume and grouad nnta ae they fall due. Borrower ahall pay to Lender any amount necessary to make up the de5ciency within 30 days from the date notioa is mailed by i.ender to Borrower requesting payment th~eof. ~ Upon payaaent in fuU of all sums eecund by this Morigage. I,ender ahaU pranptly refund to Borrow+er ariy fuada held by Lender. If under paragraph 18 6ereof the Property is sold or the Property ia otherwise acquired by Lender. I.ender ahall apply. t~o later than immediately prior to the sak of the Property or ita aoquiaition by Lender. any Phnds held by Lender at the time of application aa a credit againet the sums eecured by this Mortgage. 3. Application o! Paymenta. Untesa appUcable law provides otherwise, all paymenta received by Lender nader the Note and paragraphs 1 and 2 hereof shaU be applied by I.ender firat in payment of amounte payable to I.ender by Borrower under paragraph 2 hereof. then to interest payable on the Note. then to the principal of the Note, and then to intereat and principal oa any Futuse Advancea. 4. Charges; Liens. Borrowershall pay all taxes, assessmenta and other chargea, finee and impositions attributable to the Propetty which may attain a priority over thia Mortgage, and leaeehold paymenta or ground rente. if any, in the manner provided under paragraph 2 hereof or. if not paid in sach mennez, by Borrower making payment, when due, directly to the payee thereof. Borrower ehall promptly fumish to I.ender all notioes of amounts due under thia paragraph, and in the event Borrower ahall make payment directly, Borrower ehall promptlv furnieh to Lender reoeipts evidencing such paymente. Borrower ehall promptly discharge any tien which has priority overlhie Mortgeg~ provided, Wat Borrower ehall not be required to diacharge any auch lien ao long as $orrower ahall agree in writing to the payment of the obligation eecured by such lien in a manner acceptable to Lender, or ehall in good faith contest auch lien by, ordefend en[orcementof such tien in, legal proceedings which operate to prevent the enforcement of the li~ or forfeiture of the Property or any part thereof. 5. Hazacd Insuranoe. Borrower shall kesp the impmvements now eziating or hereafl~er erected on the Property ina~red againat loee by fire, he:arda included within the term "~t~eaded ooverage." and ench other hazarde as Lender may nquire and in such amonnts and for such periods as Lendu may reqnire; provided. that I.ender ehall not require such ooverage amount e:ceeding the minimum, as may be required by etate or federal regnlations goveming activities of Lender, or that amount of ooverage required to pay the suma secured by thia Mortgage, whichevet is the greater. The inaurance carrier providing the inaurance shall be chosen by Borrower subject to approva! by Lender. provided, that auch approval shall not be unreaeonably withheld. All premiuma on insurance policies shall be paid in the manner provided under paragraph 2 hereof or, if not paid in euch manner, by Borrower making payment, when due, directly to the insurance carrier. All insurance policiea and renewals thereof shell be in form acceptable to Lender and shall include a standard mortgage clause in favor of and in form aoceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, and Borrowe~ ahall promptly furnieh b i.ender all renewal noticea and all receipts of paid premiuma. In the event of loea, Borrower ahall give prompt notice to the inaurance carrier and I.ender. Lendar may make proof of loes if not made pmmptly by Borrower. ~ Unless Lender and Borrower otherwise agree in writing, insurance procecds ahall be applied to restoration or npair of the Property € damaged, provided auch resbration or repair is a~onomically fea8ible and the security ot thie Mortga~e ia not thereby impaired. If such C reetoration or repair ia not economicaUy feasible or if the eecurity of this Mortgage would be impaired, the insursnoe proceeds shall be applied ~ to the aums secnred by this Mortgege. with the e:cees. if any. paid to Borrower. If the Property ia abandoned by Borrower. or if Borrower faila to ~ respoad to Lender within 30 days tMm the date notioe ie mailed by I.ender to Borrower that t6e insnrance carrier offers to ~eWe a claim for ~ insuranoe beae5ta. Lender is aathorized to coUect and apply the ineuranoe prooeeds at Lende~s option either to reatoration or repair ot the ~ Property or the sums seciu~ed by this Mortgage. - ~ Unleas Lender and Borrower otherwiee agree in writing, any such application of procesds to principal ahall not ~tend or postpone the due date of the monthly inatallmente referred to in paragraphs 1 and 2 hereof or change the emount of snch installmenta. If ander pa:agraph 18 ~ hereof the Property is aoquired by Lender, all right. title and intereat of Borrower in and to any iisaurance policiee and in and to the proceeds thereof resulting• from damage to Property prior to the sale or soquiaition shall pase b Lender to the e~ctent of the sums secured by this Mortgage immediately prior to such sate or aoqaisition. 6. Preservation and ll~aintenance of Property; Lease6olds; Condominuma; Planned Unit Developmenb. Borrowe~ ahall i~eep the Property in good repair and shall not commit waste or permit impairment or deteriorstion of the Property and ahall oomply with the pmvisions of any lease if this Mortgage is on e leaeehold.lf this Mortgage is on a unit in a wndominium or a planned unit development, Borrower shall perform all of Borrower's obligationa under the declaration or rnvenante creatingor governing the oondominium or planned unit development, t6e bylaws and regulations of the condominium or planned unit development, and oonatituent docnments. If a oondominium or planned unit development rider ia executed by Borrower and recorded together with thia Mortgage. the oovenants and agreementa of auch rider ahall be iacorporated into and ahall amend and aupplement the rnvenante and agreemente of this Mortgage ae if the ~ rider were a part hereof. ~ F'rotection ot I.ender's Security. If Borrower (ails to perform the oovenants and agreementa oontained in thi~ Mortgage. or if aqy - action or prooeeding is commenoed which ~daterially agecta I,ender's intere~ in the Propaty, including. bnt not limited to. eminent domain. ~ insolvency. aode eafo:remenl, or arrangements or prooeedings involving a banlm~pt ar deoeden~ then Lender at I.endds option,npon notioe to Borrower may make anch appearanoe~. disburee such snms and take wch action as u neassary to protect I.endds intere~t, ~ inchding. but not limited to, disbureeffieat of reasonable attorney's fee~ and entry upon the Pmperty to mahe npair~. If Leader required ` mortgage inanranoe as a condition of making the loaa secured by this Mortgage, Borrvwer ahall pay the pnmium~ reqnired to maintain sach ins~asnoe in effect until wch time aa the requirement for such insnrance t~erminates in aooordanoe witl~ Boaower's and La?dds ~ writtea agreement or applicabk Law. Borevwer shall pay the amonnt of all mo=tgage insnrance preminms in We manner provided under ~ paragraph 2 hereof. ~ My amonnts disbureed by L.ender persuant to this paragraph 7, with interest thereon. shall beoome additional indebtedness of ~ Borrower ~ecured by this Mortgage. Unless Borrower and Lender agree to othez terms of payment, wch amounts shall be payable upon notioe from Lender to Borrower requeating payment fhereof, end ahall bear intenat from the date of disbursement at the rate payabk trom ~ time to time on ontstanding principal andrr the Note nnless payment of interest at such rate would be o~ntr ~ : ary to applicable law, in which ~ event snch amounts ahall bear interest at the highest rate pe:miseible under applicable law. Nothing wntained in this paragraph 7. shall ~ require Lender W incur any espenee or ta1[e any action hereunder. ~ ~ p 3:~r ~U~ r~'.L[ lOO ~ ~ ~ ' - i , _ ~ ~a