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Home My WebLink About2115 ~ ~ . . ~ - . ~ - ti ~ i UNRO~Id ~011dNANTS. BOfl~OMf~ iAd ~.lfldC~ OOrCQilll ~I~ ~~fC! it EOI~OWt: . Z. ti,~¦wM N l~YeJ~I M b1enM. Borrower ihall promP~l) Wr when due tbe principal ot aad interat oa tAe ; ~t~debt~dtba evidea~oed b~? tbe Note. PceWynxat and late chanes as ~ovided in the Noro. snd the principd o[ aad inte~est ` ca ~ny FWure Advan~es ~ecwvd b~r tha Mottsafe. ; t!'a~M~ t~t 71ms a~i 1¦w~cw Subject to applicabk law ~.r to a wtitten waivet b~? l.ender. BoROwe~ shall M7 to Lender on the dsr rtanthlp i~stallments ot priecipal aod intcrcst ~rc paysMe unde~ the Note, until the Nde is paid in tull. ~ a tum (herein "Fuad~'~ equal to one-twdith ot the yea~ly tax~~ and assasments which eusy attain prioritp ovet this ; Mortsa~e. and ~wund toab oe tbe Pe~opertr. it aey. plus a~e-~welfth ot yearl~l pcemium installmeeb for huard insurance. s plut ooe-twdtth ot yeuly premium iastallments tor mottsaie inu~rsncc. if any. all as reasonably atimated initially at~d fro~n > time w tima by Leoder oa tt~e basis of assasmcnt: and ~+ills aod rcasonabk atimata theceoi. ~ 7Ue Fundt shall be held in an institu~ion the deposia or :~ccounts of which arc insue~ed or ~uannteed by a Fedenl ot i state ssency (includina Lender i[ Lender is such an institutionl. 1_ende~ shalt apply the Funds to pay said taxa. assessmeMS. - inwranoe premiwns and fround renu. l.eoder may not cha~ae for se~ holdios and applyi~ the Fonds. analysins uid account, ~ or vs~ifyin~_sad compilinj said aueumeots and bilh. ueku Lende~ pa~ys Bon~owe~ interat on the Funds snd appli¢able law s~ ~ permib Leoder to make wch a char~e: Borrower and Lender may asrc~ in writina at the time of exxutioo ot thi= : Mortp,~e tbat iaterat on the F~nds shall be paid to Borrower. and unlas such saroement a made or applicabk law ' requires wch iaterat to be paid. Le~w shall not be required to p~y Borrower any interest or esrnings on the Funds. Lende~ i s6a!! pve to Borrawe~, witbout char~e, an annwl accou~ting of tbe Funds showina credits and debits to the Fu~ds and the putpae tor ~vhich each debit to tl~e Funds wu mado. The Funds are plodged as additional security fo~ the sums secured ~ ~ ~ M~. ~ If tbe aa~ount of tl~e Fund: held by Lende~. together with the future monthly installments oE Funds payabk prior to i the dua data of taxea. stsasmeats. iasurance premiums and gmund rcnts. shall eacc~ced the amouot roquind to pay said taxa. ~ ~menes. ;~uranoe premiums and Srou~d reoa u they (all due. such excess shall be. at Borrower's option. either ` proo~ptty rspaid to Hornower ~ credited to Borrowu on monthty installments of Funds. lf tl~e arrrount of the Fu~ds ~ 6eW by Lender shap oot be ~t to pay taxa. a~ssments. insurance pramiums and ground rents ss they fall due. Horro~rer slall pay to La~der any amount neoasary to make up tl~e deficiency within 30 days from the date notice is mailod by I.eoder to Borrower requatia8 WYment theroof. - Upoa pay~aeat in fuU of aU wma tecurod by this Mor~gage, l.en~r shdl promptly rctund to Borrower any Fun~ NeW bp Lender. lf uade~ pan~aph 18 hereof the Property i~ sold or the Pwpeny ~s otherwise acquircd by Leoder, Lender shall apply, no later than i~nanediately prior to the sak of the Propeny or ita acquisition by Lender. any Funds held bv I~eader at the time of applicstioa u a crodit against tl~e :ums secured by this Mortgage. 3. A~licatio~ ot la~. Unless applicable law provida othervvise, all payments received by Lender und~r the Note aad paragnphs 1 and 2 hereof sball be applied by Lender Rrst in payment of amounts payable to Lende~ by Borrower ' under paragraph 2 hereof. then to interest payabk on the Note, then to the principal of the Nwe, and then to interest and : , principal on any Future Advanoes. - :c ~:y. - 4. C~ar~a; Ijews. Borrower shall pay all taxes, assessments apd oEher, ct~~~ 6nes and impositions attributable to tbe PropeRy which t?uy attain a priority over this Mortasge,.an~,l~,~b pld payments br ground nnts, if sny, in thc manner provided under paragtaph 2 hereoE or, if not paid in such manner,-6y ~orMwet ~iilaKM~?'~tsytq~~•whea due, dirocdy to the payee thereof. Borrower shall promptly fumish to Lender aD notices ot amounts duo undt{. s~~r~r aph. and ia the event Borrower shall make payment directly, Borrower shaU promQtly furnish to I.ender recei~ts e"v~ocing such paymenu. Borrower shall promp~ly discharge any lien which hu prioriry over this Mortgage: pro~lid~il;:t111rtr8orcower shall not be required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligatiun secured by such lien in a manner acceptable to Lender. or shall in good faith contest such lien by, or defend enfoc+cement of sueh lien in, legal proceedings which operate to pnvent the enforcement of the I~en or forfeiture of the Property or any part thereof. S. Harard IawR~ce. Borrower shali ketp the imProvements now existing or hereafter erected on the Property iasurod ' against laas by firc, hazards included within the term "eztended coverage", and such other hazards as I.ender may rcquirc ~ and in such amounts and for such periods as Lender may requirc; provided, that Lender shall not rtquirc that the amount of ~ wch coverage exceed that amount of rnverage required to pay the sums secured by this Monaase. 'ILe insurance carrier providing the insurance shall be chosen by Bonower subject to•approval by Lender, providod. ~ that wch approval shall not be unreasonably withheld. All premiums on insurance policies shatl be paid in the manner E ; pmvided under paragraph 2 bercof or. if not paid in such manner, by Borrower making payment, when due, directty to the ~ inwranct carrier. E All insurance policies and 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, f i and Borrower shall promptly furnish to Leoder all renewal notices and all receipts of paid premiums. In the event of loss. ~ Borrower shall give prompt notice to the insurance carrier and Lender. Lertder may make proof of loss if not made promptly ~ < ~ by Borrower. ~ ' Unlas Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to ratoration or repair of i the Property damaged, provided such restoration or repair. is economically feasible and the security of this Mortgage is ; not thereby impaircd. lf such restoration or repair is not economically feasible or if the security of this Mortgage would be impaired, the insurance proceeds shall be applied to the sums secured by this Mortga$e, with the excess, if any, paid to Borrower. If the Property is abandoned by Borrower, or i( Borrower (ails to respond to Lender within 30 days from the date notice is ma~led by L.ender to Borrower that the insurance carrier offers to setUe a claim for insurance benefits. Lender is autborized to collect and apQly tde insurance proceeds at Lender's option either to restoration or repa~r of Lhe Prapeny or to t6e sums secured by this Mortgage. Unless L.ender and Borrower otherwise agree in writing, any such applica~ion of proceeds to principal shall not extend or poatpone the due date of ihe monthly installments reftrred to in paragraphs I and 2 hereof or change the amount o[ ? wch installmeuts. If under paragraph 18 hereot the Pro f,erty is acquired by l.ender, all right, tiNe and interest of Borrower ~ in aod to any R?surance policies and in and to the proceeds thereof resulti~ig from damage to the Property prior to th.: sale or acquisition shall pass to Lender to the extent of tbe sums secured by this Mortgage immediately prior to such sale or acquisition. 6. Prese~~atioo and Maintenaace of Property; Leasehulds; Condominiums; Wsnned Unit Devebpments. Borrower ~ shall ktep the Property in good repair and shall not comroit yvaste or permit impairment or deterioration of the Propeny ~ and shall comQly with the provisions of any lease i[ this Mortgage is on 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 the declaration ` ~ or coveoants creating or governing the condominium or planned unit develupment, the by-laws and regulations of ihe condominium or planned unit development. :+nd constituent documem~. a condominium or planned unit development rider is ezecuted by Borrower and recorded together with thn Mortgage, the covenants artd agreements of such rider ' ~ shall be ~ncorporated into and shall amend and supplement the covenants anJ agreements of this Mortgage as if the rider ~ were a part hereof. . ` 7. Protectioa ot Lender's Secu~ity. If Borrower fa~lc t~ perform the covenants and ag~eements contained in this # ~ Mor~gage, or if any action or proceeding ~s rommcnce.l which materially afiects LenJer's interest in the Property, ~ including, but not limited to, eminent domain. incc~lvency~, c~xle enforcement. or arrangements or proceedings invoh•ing a ~ bankrupt or decedent. then Ixnder at I.ender'a option, upon notice to Borrower. may make such appearances, disburse sueh sums and Iake such action as is necessary tu pn~tect Lender's m~erest, including. but not limited to. disbursement of ~ reuonable attomey's fces and entry up~m thc Propcrt}• to make rcpairc. If (.cnder reyuircJ martgage insurance as a ~ condiUon o( makmg thc loan tecureJ by~ this J1lortgagc. B~?rmwcr shall pay thr prcmioms required to maintain such insurance in etTect until such time as thc reyuiremen~ for wch insuran~e terminatr~ m accordance with Borrower's anJ ~ - ° . ~j,~K312 ~~,,E2113 - - , - s~~~~