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Home My WebLink About0198 UKtro~~ Oovat+~n7s. Dorrower and t.eader rovensnt and a=roe u[ollows: 1~ ~y~t ~f leYelNt a~i 1aNreM. Borrowe~ shall {xompti) paY wheo due tl~e ptincipal ot and interat on the indebtednat sridenoed b~? tbe Note, prepaymeat snd Iste char~ec ac ~ovided in the Nole, and the principa! ot and interest a+ ~ny Futun Advances ~a:ured by thi: Mortjsse. t F`fs fir't~ Mi irrtMte. Subject to applicabk law ~K to a written waive~ by Lender, Botto~+ver shall pay to Lendet on the day mo~thly installments of ptincipal aod intcrcc~ arc payaMe under the Note. until the Note is paid io full. a suai (btrein "Fuads'~ equal to oro-twdtth of the yearl~~ tax~~ anJ assessme~ts which may attain priority ove~ this Mortsa~e. aad ~ound reats ou tbe Proputy. if soy. ~lus aK-twelfth of yeart~i~ premium installments for hazud insurance. plus oae-tweltth ot yeulp pretnium installmeots for mortgsae ins~irancc, if any, all u reasonably atimated initially and froan time to Ume by I.eeder on tl~e buis of assessmen~s and hills and rcasonabk atimata thereof. 'Ibe Fw~dt shall be beld in an institutic+n the deposia or accounts c+f which are i~nurod or guaranteed by a Federal ot • state ssenc~r (inchdins I,ender if Lcnder is such an institutionl. I.ende~ shall apply thc Funds to pay uid taxa. ssxssments. inwranoe premiums and ~mund rc~t:. !_ende~ may nat charae for u? holdina and spplyins the Fu~ds. analyzing uid accou~~ or varifyio,~ at~d compilias said assessnknts and bills. unlas Lender p~ys Borrower interat on the Funds ~nd applicabk ~aw pernuq Lender to make such a char~e. Borrowe~ aad Lender may agrce in writina at the time ot execution ot this Mortsaje tbat interat o~ the Fu~ds shall be paid to Bonowe~. aed uakss such aaroeme~t is made or applicabk law r+equira wch interest to be paid. Lender shall not be rcquired to pay Borrower any iriterest or earnings on the Funds. Lender s6all pve W Borrower~ without charae, an annual accountina of the Funds showioa credita and debits to ihe Funds and the purp~ose for which ea~h debit to tbe Funds wu made. Tlee Funds are pledgod u additional socurity tor ~he sums secured bY this Mort~a~e• If t6e amou~t ot tbe Fut~ held by l.ender, together with the tuture monthly installments of Funds payabk prior to t6e due data of tuts. assasmeats. i~uuranoe premiums and ground reets, shall exceed the amount requircd to pay said tua. ana~aseats, iasuraaoe prtmiums aad g[ound nnts as they fall due. such excess shall be. at Borrower s option, either promptly repsid to Borrower or credited to Borrower on monthly installments of Funsis. If the amount of the Funds 6e1d bgr l.ender s6al! not be ~t to pay tua. asxssments, insurance premiums and gcound rents as they fall due. Botro~rer ~6a11 pay to I.ender any amount nacasary to make up the deficiency within 30 days from the date notice is mailed . by Leader W Horrower requesting payment thereof. Upoa paya~eot in fuU of all s~uaa securtd by this Matgage, l.ende~ shall promptly refund to Borrower any Funds l~eW bryr Lender. If uader patajraph 18 hereof the Property is sold or the Pmperty ~s otherwise acquircd by Lender. Lender shaU apply, no later thaa immediately prior to the sak of the Property or its acquisitio~ by Lender, any Funds held bv I.oader u the time of application as a credit against the sums secured by this Mortgage. 3. A~p~eatiow oE rap~~eab. Unless applicable law Provides othetwise, all payme~ts received by [.ender under the . Note and puagtaphs I and 2 t~e[eof shall be apPlied by Lender 6rst in payment of amounts payable to Lender by Borrower - uoder parsgaph 2 hereof, tben to interest payable on the Note, then to the principal of the Note. and then to intercst and princiQal on any Futun Advaoces. C~se~e~ Ijeas. Borrower shall pay all taaes, assessments and other charges. fines and impositions attributable to tbe Property which roay attain a priority ovcr this Mortgage, and leasehold payments or ground rcnts, if any, in the manaer provided under paraaraph 2 hereof or, if not paid in such manner, by Borrawer making payment, when due, directly to the payee tlxieof. Borrower s6a11 promQtly fumish to Lender all notices of amouats due under this paragrsph. and io tt~e event Bormwer shall make payment dircetly. Borrower shall promptly fumish to L.ender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Mortgage: provided, that Borrower shall net be required to discharge any such lien so long as Borrower shall agrce in writi~g to the payttrent of the obligation securod by such lien i~ s manner acceptabk to l.ender, or shall i~ good faith contest such lien by, or defend enforcement of such lien in. , Iegal procoedings which operate to prevent the enforcement of 1he i~en or forfeiture of the Property or any part thereof. S. Hazard tasoraK~e. Borrower shall k~ep the improvements now existing or hereafter erected on the Property insured against loas by firc, ha~tds included within the term "extended coverage", and such other hazards u L.ender may require ~ aad in such amounts and fa such periods as Lender may rcquire; provided, that Lender shall not rcquire that the amount of ~ such coverage exceed that amount of coverage required to pay the sums securcd by this MortEaae_ '!be iowranoe carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided, ~ t6at wch approval shal! noi be unreatonably withheld. All premiums on insurance policies shatl be paid in the manner E provided under paragraph 2 hereot or, if not paid in such manner, by Borrower making payment, when due, direcdy to the ; inwrance curier. ~ All insurance policia and renewals thereof shall be in form acceptable to Lenckr and shall include a standard mortgage ~ clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policia and renewals thereof. , and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums_ In the event of loss, j Botrower shall give prompf notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly ~ by Borrowsr. Uoless Lender and Borrower otherwise agree in writing, insurance procceds shall be applied to restoration or repair of ~ the Propeny damaged, provided such restoration or repair is economically (easible and the security of this Mortgage is E not thercby impaircd. It such restoration or repair is not economically (easible or if the security of this Mortgage would ~ be impaired, the insurance procoeds shall be applied to the sums sec~red by this Mortgage, with the excess, if any. paid to Borrower. If the Propeny is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the ~ date notice is mailed by Lender to Borrower that the insurance carrier ofiers to settle a claim for insurance benefits, Lender ~ ~r of the Pro rtv ~ is autborized to collect and apply t6e insurance procteds at Lender's option either to restora~ion or repa. pe ~ or to t6e sums secured by this Mortgage. s Unless I.ender and Borrower otherwise ag~ee in wnting, any such application of proceeds to prinupal shall not eztend ~ or postpone the due date of the monthly installments referred to in paragraphc I and 2 hereof or change the amount of ~ suc6 installments. If under puagraph 18 hereof the Prof,erty is acquired by Lender, all right, title and interat of Borrower 5 in and to.any lnsurance policia and in and to the proceecls ther~of resultmg from damage to the Property prior to th~ sale ~ or acquisit+as~ shall pass to Lender to the eatent of the sums xcurcd by this Mortgage immediately prior to such sale or acquisitio~ . j 6. lieservatioo aad Maiatenance of Property; Leasehul~; Condominiums; Planned Uuit Developments. Borrowcr K shall ~Cee~`t!{e Property in good repair and shall not comroit yvaste or permit impairment or deterioration of the Propeny 5 and shall comply with the provisions of any lease if this Mortgage ~s un a leasehold_ If this Mortgage is on a unit in a ~ condominium or a planned unit development. Borrower shall perform all of Borrower's obligations under t~e declaration ~ or covenants creating or governing the condomimum or planned unit development, the by-laws and regulations of the ? condominium or planned unit development. and constituent documents. If a condominium or planned unit development ' rider is executed by Borrower and rccordeJ rogether w~~h th~s Mortgage, the covenants and agreements of such rider ~ shall be incorporated into and shall amend and supplement the covenants and agreernents of th~s Mortgage as if the riJer r were a part hereof. ; 7. Protectioo of Leader's Security. If Borrower (a~lc t~~ perform the covenan~s and agreements contained in this ~ Mor~gage, or if any ution or Proceeding ~c commenced which materially a(iects Lender's interest in the Property. including, but not limited to. eminent domain. insolvency, code enforcement, or arrangements or proceedings invoh•ing a ~ bankrupt or decedent, then 1_ender at Lender's opuon, upon notice to Borrower, map make such appearances, disburse such ~ sums and take such action as is necessary tu protect Lender's interest. incluJing. but not limited to, disbursement ot ~ reuonable auomey's tees and emry upon the Propcrty ta make repairs. I( Lcnder required mortgage insurance as a ~ cond~tion o( making thc loan xcureJ by this Mi.rtgagc. B~,rruwrr shall pay thc premiums required to maintain such " insurance in efiect until such time as the reyuiremem for wch ~nwrancc terminates ~n :~ccordanee with Borrower s anJ ~ Y ~ ~ . ~10 ~.98 , ~ - . ~ . ~ ~