The URL can be used to link to this page

Home My WebLink About2109 • L `t . ~ , ' . t ' _ UKaat~[ Oovu+~tm. ~on~o~rsr aad l.a~de~ covsnant and a~roe a fdlow:: 1 r4~~ ri l~Insrf. 9orrowe~ shall promPt~) Wr when due tbe pra~ciQal ot and i~terat on the . ~ svideuood b~? tbs Nota, prapspment and bte clwrses su ~xovided in the Note. and tbe principal ot and interes~ j aa any Putuce Advae~ces ~ecured b~r th~ Mortsase• % 1 lrwi tK Taaas a~i I~weMee. S1~bject to applicabk law ar to a written waiver by Lendet, Boao~rer shall Wy € W I.tader on the day ~aonthl~? iastdfinents ot principal and intcrcu ~rc payabk undet the Note. until tAe Note is paid in tull. 4 a wm (ha+eln "FuadPti eqwl to oro-tweltth ot the yea~l~• taX~~ anJ asiasments which msy sttain prioritY ovet this : Mo~tja~e. and pouqd ceab oa tM P~operty if sny. plus o~twelfth of yearl~i~ prenuum installme~ts tot huard inwn~ce. ~ plus ooe-twelRh o[ yearlp premiura instdlments tor moritaje inu~ranc~, if any, all as ressonably estimatcd initially and trom f dma W tid~e b~? l.ender oa tbe buis ot assessments a~d hills and rcuonabk atimata thereof. } '!Ls P~ tball be I~eld in an instituti~+n the deposiu o~ accounts of ~rhich are insured or N~ranleed b~? a Feden~ ot ~taoe a=encp (includinj 4ender it I.ende~ is such an institution). I.ende~ shall apply the Funds to pay ~id taxa. as~sasments. ~ iaHtraaoe ptemium= and p~ouqd ~ts. I.ender may not charse for so holdin= and aPplyios the Fnnds. analyzin` said account, ~ or w~ityie~.aad oompilinj uid assasrnents and bilh. unlas I.ender pays BoROwe~ intercst on the Funds aod appliabk law pennifs I~der to make such a chu~e. Borrowcr aod Lender may atne in writina at the time of exxution ot thfs # Mo~tia~a tbat iaterat on ihe Ptu~ds sball be paid to Borrower. and ualas such asroement is made or applicabk law req~uret weh iatenst b be p~id. Leeidar shall not be requirod to p~y Borrower any interat or earninas on the Fw~ds. Lender ~ ~ha1l ~ive to Horr~owsr. without c6ar~e. an annwl aocountina ot t6e Funds showina credits and debits to the Fands and the ! ss additional sccurity for ~he wms sxurcd ~ purpae for ~?hich ea~h debit to t6e Funds was made. The Funds arc pledaed by tDi~ Maya~e. g tbe amount a( tbe puod~ bdd by Lender. toaether with che future monthly installmeats ot Funds payabk prior to ~ tbe due dates of taxa. a~ments. inwranoe p~emiums and ground rents, shall exceed the amount required to pay said taxa. ~e~nts. ituuraooe prentiua~s and jmund rents u they tall~ due. auch excess shall be. at Bonower s opt~on. either ~ promptly cepaid to Borrowet or credited to Borw~r on monthly installments of Fu~ds. U the amount of the Fundi bdd b~? i,ead~r ahalt not be sut6cient to p~y taxes. aaessments. insurance pnmiwns and ground nnts as they fall due. 8orre~rer s6all pay to I.eader any amount necasary to make up the deficiency within 30 days trom the date notict is mailcd ~ bgr I.eader W Homower requatina P:Yment thereof. - • Upon payment in fuU of all wms aecured by thu Mortga , ~LS ~Pj~ ptly refund to Bormwer any Funds ~ beld b~r L~ender. If uodet psn~aph 18 hereof ths E?~erty e£ ~b~ d~ t~~~ny~ oN~en"ae u9uircd by Lender. Lende~ sha11 apply, no lata than imaiediately prior to the ssk of the Pt+~p~tyc•.dt~i~cquisition by Lender. any Funds held bv I,eoder at the time of application as a credit agai~ut the :ums secured by thit Mort6age.. • 3. A~!{caitiM ot rq~eMs. Unless appliCable law provida othen~?ise. all payments nceived by Lender under the pote and parajcaphs 1 sad 2 6e~eof shall be appliod by Lende~ first in payment of amounts payabk to Lender by Bortower uoder parastaph 2 baeof. t6en w interost payabk on LlK Nde. then to the principal of tha Note. and then to interest and ; principal on any Future Adv:nas. ~ C~e~ IJe~s. Borrower shall pay all taxes, asxssments and other charges, flnes and impositions attributable to - ~ tbe property which may aUsin a priority over this Mortgage. and leuehold payments or gmund rcnts, if any, in the manuer provided t~der puasraph 2 t~ereof or, if not paid in such manner, by Borrower making payment. whai due. directly to the ? pay~ee thereof, Borrower shall pranptly furnish to Lender all notices of amounts due under this parajrsph. snd in the eveat ~ Borrpvrer shall make paya~ent direcUy, Borrower shaq promptly fumish to Lender reoeipls evidencing such payments. ~ Borrower shdl promptly discharge any lien ~which has priority over this Mortgage: pmvidcd, that Borrower shall not be g required to discharge any such lien so long u Borrower shall agrce in writing to ~he payment of the obligatiun secured by ~ such lien in a manner acceptabk to Le~der. or shall in good faith contest such lien by. or defend enfot~ceme~t of such lien ia. i kgal pmceedinss which opente to preveat the enforcement o( the lien or forfeiture of the Properly or any part thereof. ~ s S. Amrd IwrMCe. Borrowe~ shall koep the improvements now existing or hereafter erected on the Propeny insured } against loss by 6re. huuds ~ncluded within the term "eztended coverage", and such other huards as l.ender may require ~ and in wch amounts and for such periods as Lender may require: provided, that L.ender shall not require that the amount of ? ~ wch covenge exceed that uoount of coveragt rcquired to pay the soms securcd by [his Mort6a6e. ~ i 'ILe iraurance carrier providing the inwrance shall be choseo by Borrower subject tp approval by Lender, providod. ; that wch approval shall not be unc~euonaWy withheld. Alt prcmiums on insurance policies sha11 be paid in the manner j provided untkr paragraph 2 bereof or. if not pai~ in such manner. by Borrower making payment, when due. directly to the E inwnnce curier. 1 ~ All insurance policies aad renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage etause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policia and rcnewals thereof. t ~ and Borrower shall promptly furaish to Lender all renewal notices and all receipts of paid premiums_ in the event of lou. Borrower shall give prompi notice to the insurance carrier and Lender. Lender may make proof of loas if not made promptly by Borrower. ~ ' Unless Lender and Borrower othetwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Propetty damaged. providod such restontion or repair is economically feasible and 1he security of this Mortgage is not thereby impairod. lf such rcstoration or rcpair is not economically feasible or if the security of this Mongage would be impaired, the insurance procoeds shall be applied to the sums secured by this Mortgage, with the excas. if any, Paid to Borrower. If the Property is abandoned by Borrower, or it Borrower fails to respond to Lender within 30 days irom the date notice is mailed by Lender to Borrower that the insurance carrier ofters to settle a claim for insurance bene6ts. Lender is aut6oriud to collect and apply the insurance proceeds at Lender's option either to resteration or repair of tl~e Propetty or to tbe wms secured by thia Mortgage. Unless Lender and Borrower otherwise ag~ee in writing, any such application of proceeds to principal shall not extend or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of such installmeots. If under p~aragraph 18 hereof the ProFerty is acquired by L.ender, all right. tiUe and intercst of Borrower ; in and to aay lbsurance policia and in and to the proceeds thereof resul~ing from damage to the Property prior to thc sale { or acquisition shall pau to L.ender to the extent of the sums xcured by this Mortgage immediately prior to such sale or ` acquisition. ~ f, tre~ervatbs and Maiatenance of PropeNy; Leasehulds; Condominiums; Planoed Unit Derdopmeats. Borrower shall keep the Property in good reQair and shall not comroi~ yvacte or permit impairment or deterioratiun of the Property and shall complp with the provisions of any lezse ~t this Mortgage is on a leasehold. 1( this Mortgage is on a unit in a coodominium or a planned unit dcvelopment, Borrower shall pertorm all of Borrower's obligations under ihe declaration or coveoants creating or governing the condominium or planned unit development, the by-laws and regulations ot the condominium or planoed unit development, and constituent_ documents. If a condominium or planned unit development . rider is eaecuted by Borrower and recorded together wi~h th~s Mortgage, the covenants and agreements of such ridcr F shall be incorporated into and shall amend and supplement the covenants anJ agreements of this Mortgage as if the rider were a part hereof. '1. Protectioo of LendePs Security. If Borrower (a~ls to perform the covenants anJ agreements contained in this Mortgage, or i( any acdon or proceeding ~s commenced which materially afTects !_enJer's interest in the Property, including. but not limited to. eminent domain. insolvency, code enforcement, or arrangements or proceedings ~nvolcing a ; bankrupt or decedtnt. ~hen Lender at Lender's op~ion, upon notice to Borrower, may make such appearances, disburse such ~ sums and lake such action as is necessary to prolect I_ender's interest, including. but not limited to. disbursement af s reuonable auomey's fees and en~ry upon the Propcny to makc rcpairs. I( Lcnder rcyuircd mortgage insurance as a ~ cond~tion of making the loan secureJ by this M~~rtgage. B~•rrower shall pay the premiums requireJ to maintain such ~ insurarice in eHect unlil such time as ~he reyuiremem (or wch msurance termmatrs ~n accordance with Borrower s and ~K 312 , . . . ~ . `'R ~E~107 ~ - -