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Home My WebLink About2128 • ~ • r 1 s ~ . . •e ! Un~ouw Oovan~t~rts. Dorww~t aad l,sode~ ocva~ant and asroe as fdlows: ~ ~ L lp~~N ~f lei~elM1 a~i I~Ntwl. 9orrowst ~ail pranptl) psy when due tbe priacipal ot and inte~t on the ~ indebtsdaeK svideooed bp tba Nots. PrePa~aeat sad laa clw?ses ax pro~vided in the Note. and tbe princip~l ot aad intapt ' aa any Futw~e Adv~ secund bp this Matsa~e. ~ t!ri tK 1~ Mi I~a~. ~bject to applicabk law ~u to a written waiver bp Irender, Horra~?~r ~ha11 Wy ~ to I~det oe ~he day monthlp it~stallmenis of principal and intcres~ arc payabie unde~ the Note, until the Note is pajd in tull. ~ a wm (herein "Fw~'7 eqwl to oro-twalfth of the pearl~ ~aX~~ anJ assasments which a~sy stuin priorily ovet this ~ Moret.~e, .na ~~a re~a on u~e ~enr. ~r .~r, d~ o~~~~r~h o~ y~?~ ~~a, ~~u~u~a ea nau~a ~nw~e. . plw oa~tweltth ot yeuiy premium installmsots tor mortjsje i~~rance, it any. all u~asonably estimated initislly and irom t dma to tta4e by i.eader on tbe buis ot suasments and hills and rcasonabk atimata thereot. ~ , 7be'g'unds shall be held in an institWi~+n the deposiq o~ accounls of ~rhich at~e insural or Nuanteed by a Fedenl ot ttate s~enCy (includin` ltender if i.eoder is such an institution). 1_eoder shall apply tl~e Funds to pay said taxa. ass~ents. t iowranos premiums and ~roued rents. l.ende~ may not charde tor u+ holdina and applyins ~he Fimds. analyzinf said account, ~ or vetifyins-aad complin~ said assasments at~d bilh. uoku Leoder psys Bormwer interest on the Funds a~d appliqbla law ~ pemats La~de~ to make such a cl~ute. Borrowet aod Lender may atra in w~tins at the time of execution ot this ~ Mo~ee tbat iaterat oo the Funds ~all be paid io Borrower. and ualas wch a~reement a made or applicabk law ' requirei such iaterat to be paid. Lende~ shall nd be rcquired to pay Borrowe~ any intercst or arnings on the Funds. Lender ~ sbaU pve W Horrower, witbout chu~e. an a~nual sooouoting of tNe Funds showina credits and debits to the Funds and the purpose [or which each debit to the Fuads was made. The Funds ar~e pledaed ss additional security tor ~he sums secured ~ by tbit Mott`t~t• ; U tl~e amount of tbe Fund~ hdd by Lender. tosethet with the future monthly installments ot Funds paysbk prior to the due data of tua. asse~smeats, iawnnoe premiums and ground rcnts, shall exaed the amount rcquired to pay uid taxa. ; at~nents. imuranoe prcmiums and ~round renb ss they tall due. such excess shall be. at Borrower's option. eithe~ # ~ promptly repaid to Bormwer or credited to Borrower oe monthly installmcnt: of Funds. If the amount of the Fuads , hdd bq Leod~r shal! not ba wt6cieat to pay taxes, asa~nents, insurance premiums and g[ound nnts ss they fall due. ? Bomower sbaU pay to Leade~ any amount necasary to malce up tfie defitieacx ~rithip 30 days [rom the date notice is maikd by Ireader to Bormwar requestia8 WYme~t thereof. ~ ~ - ; Upa~ payment in fuU of all wtas tecured by this Mortgagt;"~leride~~shal{ ptanptly .refund to Bormwer any Fun~ z bdd by Leader. If uada~ panaraph 18 hereof the PropeRy is sold or the Property ~s otherwi~e acquired by L.ender. Lender s6aU appty. no later than immodiately .prior to the sale ot the Propeny or its acquisition by [.ender~ any Funds held bv Ireoder at the time of application s a credit against the sums secured by this Mortgaae. 3. A~iieatlo~ ot lq~eds. Unfess applicable law provida otherwise. ali Payme~ts received by Lender under the Nota and paragnphs 1 and 2 hereo[ shall be applied by Lender 6rst in payment of amountt payabk to I.ender by Borrower uader parssraph 2 hec~eof. t6ea to iaterest payabk on the Note, then to the principal of the Note. and then to interest and : pciaapal on any Futute Advances. . ~ 4. C~ex Lkat. Borrower shall pay all taxes. assessments and other chargu, fines and impositions attributable to the pr~operty which may attai~ a priority over this Mongage. and leisehold payments or ground rents. if any. in the manaer pravided under puagraph 2 hercof or, if not paid in such manner, by Borrower making payment. wheo due, diroctly to the i papee tbe~eof. Borrower shall promptly furnish to Lender alt notices of amounts due under this para~nph. and in t6e aveat Borrower shall make payment directly. Borrower shall promptly fumish to l.ender receipts evidencing such payments- Borrower shall peemptly discharge any lien which hu prionty over this Mongage; provided, that Borrower shall not be rcquired to discharge any such fien so bng as Borrower shall agree in writing to the payment of the obligation securod by such lien in a manner acceptabk to Lender. or shall in good faith contest such lien by, or defend enforcert~ent of such lien ia, kgal pmceedings which operate to ptevent Ihe enforcement of the lien or forfeiture of the Property or any part thectiof. _ S. Ha~aM l~ara~ce. Bocrower shall koep the improvements now existing or heresfter eraKed on the Property iasurod ~ againtt loss by firc, hazatds included within the term "eztended coverage", and such othor hazards u Lender may requirc ; aud i~ wch amounts and for such petiods u Lender may-requirc; provided, that Lender shall not require that the amount of • wci~ coverage exceed that amount of coverage required to pay the sums securcd by this MortEase. The iasurance carrier providing the insurance shall be chosen by Botrower subject to• apQroval by Lender. providod, that such approval shall not be unreasonably withhtld. All prcmiums on insurance polieia shatl be paid in the manner provided under paragnQh 2 l~ereof or, if not pai~ in such manner, by Borrower making payment. when due. dircctly to the j inwrance curier. ~ All insurance Ewlicies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage ~ clause in favor of and in form xceptable to Lender. Lender shall have the right to hold the policia and rcnewals thereof, and Borrov?er shall p~omptly furnish to Leoder all renewal notices and all rcceipts of paid premiums. In the event of loss. { Borrower shall give prompl notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly ~ by Borrower. ~ Unkss Lender and Borrower otherwise agree in writing, insurance procceds shall be apptied to restoration or repair of the Propeny damaged, proviJed such restont~on or repair is economically feasible and the security of this Mortgage is not ~hercby impaircd. lf such restaration or repair is not economically feasible or if the security of thi~ Mortgage would be impaired. the insurance procetds shall be applied to the sums securcd by this MoRgage. with the excess, if any, paid to Borrower. lf the Property is abandoned by Borrower, or if Borrower tails to respond to Lender within 30 days from the date aotice is mailed by Lender to Borrower that the insurance carrier ofters to xttle a claim for insurance benefits, l.ender is aut6oriud to collect and apply tt~e insurance proceeds at Lender's option either to restoration or repair of the Propertv or to the sums secured by this Mortgage. - Unless I.ender and Borrowe~ otherv?,ise agree in writing, any such application c~ proceeds to principal shal) not ettend or postpone the due date of the monthly installments refetred t.~ in paragrapht 1 and 2 hereof or change the amount of suc6 installmeuts. If u~der patagraph 18 herco[ the ProE,erty is acqu~red by Lencier, ali right. title and interest of Borrower in and to any Insurance policies and in and to the proceeds thereof resulung from damage to the Propert~ prior to th~ sale or acquisition shall pass to Lender tu the extent of the sums se:ured by this Mortgage immediately prior to such sale or scquisitan. - - 6. Pnsenatioo aod Naintenaace of Propnrty; Leasehulds; Condomiaiums; Planned Uoit Derebpments. Borrower ~ shall keep ihe Property in good repair and shall not comruit yvaste or permit impairment or deterioration of the Property and shall comply with the provis~ons of any kue if th~s Mortgage ~s on a leaschold. lf this Mortgage is on a unit in a condominium cx a planned un~t development, Borrower shall perform all of Borrower s obligations undet the declaration or covenants creatmg or g~vernmg the condomin~um or planned unit development, the bylaws and regulations of the condominium or planned unit development, and constituent documents. I( a condominium or planned uoit deveiopment ~ rider ~s executed by Borrower and recorded together wnh th~~ Mortgage, the covenants and agreements of such rider ~ ~ shall be ~ncorponted into and shall amend and supplement the co+enants and agreements of this Mortgage as if the rider v?•ert a part hercof. ~ k 7. Protectioa of Leade~'s Securfty. lf BorroNer lailc t~• periorm the covenants and agrcements contained in this ~ Mortgage, or if any act~on or proceeding is cummence.l veh~~h materially affects l.ender's mterest in the Prc~perry, ~ includ~ng. but nut I~m~ted ~o. eminent domam. inu.henc~, code enforcement. or arrangements or proceedings invoh•~ng a ~ bankrupt or decedent. ~hen l.ender at t.ender's opt~on, up~~n nonce to Borrow•er. ma~ make such appearances, disburse such ~ sums and uke such action as is necessary tu prrnect Lender's mterest. inc~udinK. but not lim~ted to, disbursement of reasonable attomey's feec and entry upon thr Propert~~ ~o make repairc. If Lender reyuired mortgage inwrance as a $ _ condition u( makmg the loan aecureJ b~ ~hi< <tortgage. B~~rrouer shall pa~• thc prem~ums requireJ to mainta~n such insurance in rHect until such time as the reyu~rrment for wch ~nwranee Ierminate~ m accordance whh Borrower's and ~ c~?'~~312 P~GE~~L+(JV ` ~ - - - ~~~v _ :