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Home My WebLink About1204 i , i . / t uN1fORld ~OYLNAN7'i. BO~iON~Of iAd I.~Cf COYl11afl1 iltd i=f'E! if EO~~OM~s: i ~~q~ert at ~el~t~lil aiM l~leeaf. Borrower shall ~xomPt~) Wr when due tbe priecipal of snd interost on the 1 ~debtedna~ evideooed bgr tba Not0. P~p~~t and Iste cFwrte~ a.~ ~xovided in the Note. and the pri~cipai ot and inter+at ! on aoy Futuro Advances secwod by this Mortsa~e. ~ 1!ri hr Y1~s~s ~i irw~ca ~bject to applicabk law ar to a writtrn waiver by Lende~. Boirowe~ ~all WY W Le~der bn tl~e dsy monfhlp instdlments o[ principal and imerc~~ arc payable under the Note. until the Note is paid ie tull. a wm (M~eia "Fundt'7 equsl to o~+a-tweltth ot the yearl)• tax~w anJ auessments which may attain priority ovet this Morfsye. and ~rouad ~b on tbe Pe+openy. if any. plus one-twelfth ot yearfy~ premium installments tor huard insurance. plus ooe-twel[th of yearlp promium iestallmenls fo~ mottta~e insurancc, if any, all u rasonably atimated initially and from time to tima bp l.ande~ on tbe basis of assessments and Mlls and rcuonabk atimata thereof. ; The Funds shall be bdd in an institutic+n the deposiu or accounts of ~rhich ate insured o~ auannteed by a Federsl ot ; sts~e a~e~cy (includina l~eade~ if Lender is such an institution). I.ender shall apply the Funds to pay uid ta~ca. ssaasments. ' intunnc~e premiums and ~toued ?ents. l.ender may not cha~ge for u+ holdint and applyins ti~e F~mdt. analytin~ uid actount, ~ or verityins.and oompilins said atsessments and bills, unlas Lender pays Horrower intetat on the Funds and spplicabk law i permit~ I~ender to make sucl~ a char~e. Borrorve~ and L.ender may atroe in writint at the time ot execution ot tha 4 Motttaja that iaterat on the Fuads ahall be paid to Borrower. and unkss sucA sarcemcnt a made or applicabk law requira wch interat to be p~id. Lender shall not be rcquired to pay Borrower any interat or earnings on the Funds. Lender ' •6aU pve to Horrow~. witbout charge, an annual aocountina of the Funds shawina credits and debits to the Funds and the ; pupae tor rvhich aeA dtbit to the Fu~ds was made. The Funds arc pledged u additional security for the sums secured i by t6is Mortp~e. ~ If tha amount ot tbe Fut~ held by Lender, together with the futurc monthly installments of Funds payabk priot to t6e due dates of tua, auessmeaa. i~unnoe ptemiums and ground re~ts, shall exoeed the amount requirod to pay uid taua. aae~meats. iiuuranoa praniwra and ground rents as they fall due. such excess shall be, at Borrower s op~ion, either promptly repaid to Borrower or crodited to Borrower on monthly installments of Funds. If the amount of the Funds held by Lendtr shall not be a~A'icieat to pay taxes. aasessments. insurance premiums and ground rents ss they fall due, Horro~rer ~ball pay to Leoder any anaunt necessary to make up ~he deficiency within 30 days from the date notice is mailed by? I~eader W Borrowet roquestiaa payment theroof. Upon paymeot in full of aU sums secured by this Mortaage, l_endet shdl promptly refund to Borrower any Funck heJd bgr Leader. If under parajraph 18 hereof the Property i~ sold or the Propeny ~ othenvise acquired by Lender. Lender sbaU apply. no later than ima~ediately prior to tAe sak of the Propetty or ita :cquisition by Lender._ any Funds held bv Irender at th~ time of application u a credit againsl the :ums secared by this Mortgage. 3. A~iicatio~ at tp~. Unkss applicabk hdir~pfovides otherwis~." all payments received by Lende~ under the Note aod pangraphs 1 and 2 hereof sha11 be applie~,by i.ende,~ fi~st in p~yment.of amounts payabk to Lender by Borrower under parajraph 2 heroof. t6en to intcrest payabk on the Note. then to the principal of the Note. and tMn to intercst and priacipal on aay Future Advanoes.~ e. (,'~~efi i3e~t. $orrower shall pay all taaes, assessments and other charges, 6nes and impositions attributable to : t6e Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manae~ providod under paragraph 2 hercof or, if not paid in such manner, by Borrower making payment. when due. direcdy to the payee the~oof. Borrower shall pmmptly fumish to Lender all notices of amounts due under this paragraph. and in the event Borrower shall make payment directly. Borrower shall promptly furnish to L.ender receipts evidencing such paymenu. Borrower shdl promptly discharge ar~y lien which has priority over this Mortgage: provided, that Borrower shall not be required to discharge any such lien so bng as Borrower shall agree io writing to the payment of the obligatiun securcd by such lien in a manner uceptabk to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in, kgal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thercof. S. Baz~rd [awnwce. Borrower shall keep the improvements now existing or hereafter erected on ihe Property insured against lou by firc, hazards included within the term "extended coverage", and such other huards u l.ender may rcquire and in such amounts and for such periods as Lender may requirc; provided, that Lender shall not requirc that the amount of such coverage exceed that amount of coverage required to pay the sums securcd ~by this Mortsa~e. 'Ihe insurance cazrier providing the insurance shall be chosen by Borrower subject to approval by Lender. provided, that such approval shdl not be unrea~sonably withheld. All prcmiums on insurance policiu shall be paid in .the manner provided unckr paragraph 2 hereof or. if not paid in such manner. by Borrower making payment. when due, directly to the ' insurance curier. E All insurance policies aod renewals thereof shall be in form acceptable to Lender 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. j and Borrower shall prompUy furnish to Lender all renewal notices and all receipts of paid premiums. in the event of loss. i Bormwer shall give prompf notice to the insurance carrier and Lender. Lertder may make proof of loss if not made prompdy ~ by Borrower. ~ Ualess Lender and Borrower otherw~se agree in writing, insurance proceeds shall be applied to restoration or repair of , the Property damaged, provicied such restorat~on or repair is economically feasible and the security of this Mortgage is not lhereby impaired. If such restoration or repair is not economically feasible or if the security of this Mortgage would ~ be impaired, the insurance procoeds shall be applied to the sums secured by this Mortgage, with the excess. if any, paid to Borrower. !f the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date aotice is mailed by Lendtr to Borrower that the insurance carrier oftets to settle a claim for insurance benefits, Lend~r ~ is aut6oriud to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Propertv or to the sums secured by this Mortgagc ~ Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to princiPal shall not extend or postpone Ihe due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of ~ weh installments. If under paragraph 18 hereot the ProFerty is acquireci by Lender, all right, title and interest of Borrower in and to any tnsurance policies and in and to the proceeds thereof resulting from damage to the Property prior to th~ sale or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or acquisition. ~ 6. l~sservatfon and Ataiutenaace of Property: Leasehulds; Condominiums; Plsnned Uoit Devebpmentt. Botrower y shall keep the Property in good repair and shall not comroit yvaste or permit impairment or deterioration of the Property ~ and shall comply with the provisions of any lease if th~~ Mortgage ~s on a leaschold_ 1( this Mongage is on a unit in a ~ condominium or a planned unit development, • Borrower shall perform all of Borrower s obligations under the declaration ~ or covenants creating or governing the condam~nium or planned unit develupment, the by-laws and regulations of the ~ condominium or planoed unit development, and constituent documents. It a conJominium or planned unit development ~ rider ~s executed by Borrower and recorded together with th~s Mongage, the covenants and agreements ot such rider ~ shall be incorporated into and shall amend and supplcment thc covenants anJ agreements of ~his Mortgage as if the riJer ~ were a part hereof. ~ ~ 7. Protection of Lender's Securftj~. If Borrower failc t~~ perform the covenams and agreements contained in ihis ~ Mortgage, or if any ac~ion or proceeding ic cummenced wh~ch materially afiects I.enJer's interest in Ihe Property, ~ including, but not limited to, eminent domain, in~lvency, code enforcement. or arrangements or proceedings invoh•ing a ~ bankrupt or decedent, the~ Ixnder at Lender a option, upon notice to Borrower. may~ make such appearances, disburse such sums and take such action as is necessary lo protect Le~der's mterest, ~ncluding. but not limited to, disbursement ot ~ reuonablc allomey's tees and en~ry upon the Property to makc repairs. I( Lcndcr required mortgage insurance as a condiuon of ~mak~ng the loan cecured by this Mangage. B~rnw?cr shall pay the premiwns required to maintain such ~ insurance in eftect until such tinte as the « yuirement (c~r wch insuranec terminatr~ in accordanc~ with Borrower's and ~ ••g',~{ ' ' ~ ~ ~ 3~~';K 312 P~~E 1202 ~ . . ; ~ _ . . . ~2 _