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Home My WebLink About2146 . . ~ ~ , , ~ , UHtroa~ Covat?~trn. 8orrowsr ud l~ee~de~ ooveaant and asroe ss tdlown: Z. !iy'¦NM at rei~elM1 a~i I~NrNf. Horrowe~ shall P~M~) Wy when due ihe principai ot and inte~at oo the ' indebtedne~ tvide~ood bp tbe Not0. P~W~t'and late cfwr~ti sx ptovided in the Note. aed tbe ptincipd ot am1 intees~t ? ; aa my Futw+e Advaaca ~ecuced b~r thi: Mon~a,~e. ; Z. !'~i tK 7'a~w aM I~n¦c~e. ~bjcct to applicabk law .x to a written waiver by I.e~. Botro~re~ sha11 My to Lender on the day ano~thly installments of principal and intcrcst an payaMe under the Note. until the Nota is paid in (uli. ; a tum (he~ein "Fuad~'~ eqwl to onatweltth ot ~he ~esrl) taz~~ arn! asseuments which may attain priority ove~ this ; Molrtp~e. aad ~mw~d reab on tbe propeny. it any. plus onc~twelttA of yearty'i promiwa i~atalltnenq ior ~szard insurance. plu: oao-twel[th ot yearlp premium installments tor mott~ase iosurance. if any. dl ss rcasonably estimatcd initially and t~+au dme to time by Lender oa tbe b~a oi assezcme~ts and hills and rcasonabk estimata the[eot. ~ 'ib~ F1~nds shall be heW in an institutic+n the depoaia or •rccounts of w?hich arc insured or Nannteed by a Fedeal ot tta~e a~e~r (includina Leader if Leoder is such an i~atitutionl. I.ender shali apply the Funds to pay said tua. assasmeMS. ~ iawtsnca pcsmjums and p~ound rents. l.e~der may not chs~~e for sn holdins and applyinj the F~mds. analyzint said account, or verifyins.aad oompilin~ uid assessments and bilh. unku Leader pays Bo?rawver interat on the Fu~ds and applicabk law pem~iis I.ender to m~ke such a charse. Borrower aad l.ender may a=rce in writin~ at the time of execution of this Mortj,~,~e tbat interat on We Fuads shall be paid to Bormwer. and ualas wch a~r~eement is made or applicable law requiret such iMarat to ba paid. l.ander shall not be rcquired to pay Borrower any interost or arnings on the Fun~. Lender •6a11 pve W Borrowa, witbont charge. an a~nwl accounting of the Funds showin` credits and debits to the Funds and the ` purpose tor rvhich aeh debit to the Fu~ds was made. The Funds are pledged u additional security tor the sums secured bY this Morts,a~e• ! IE t6e amou~t oE tbe Fua~ held by Lender. together with the future monthly installments of Funds payabk prior to ~ t6e due data of ta~ta. aua:meots. inwnnce premiums and ground renu, shall exoeed the amount ~equired to pay said taxa. ~ as~eaments, iraurmoe prcmiwra aad tround rents as they tall due. such excess shall be.. at Borrower's option. either promptly repaid to Borrower or ctedited to Borrower oe monthly installments of Fuads. If the amount of the Funds bdd by Le~ sfiall not be ~t to pay tues. assessments. insuranoe premiums and ground rents ss tixy fall due. Borm~rer thall pay to Laider any amou~t necessary to make up the deficiency within 30 days [rom the date notice is mailed by I.eader W Borro~ver requestioa PaYmenl thereof. ; Upoa paymeat ip EuU of aU aums secueed by this Mongage, I.ep~ ~al~promptly refund to Horrowe~ any Fun~ held by Lender. If under pansaph 18 hercoE the Propertq is sol~ o~ ~,he~erty ~s otherwise acquired by Lender. Lender ~ :6a11 apply, no later t6an immodiately prior to the sak of the' Proplri~ ~ acquisition by Lender. any Funds held bv I.aader at the titae ot application as a crodit against the suau secu~pd by 3hi~r~loti~.' ~ 3. . A~licatio~ of lqreMs. Unless applicibk law provides 4tMqrwiio.. dl p~yanents~ t+eceived by Lender under the ; Note and puagraphs l aod 2 txreof shall be applied by Lcnder first i~ payme~t of unount~~yable to Lender by Borrower < under parsaraph 2 hereof. tbea to intercst payabk on the Note, then to the principal of the Note. and then to intercst and priacipal on aay Futun Advanoe.s. 1. C~e~ Lk~s. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to tbe Property which may attain a priority over this Mortgage, and leacehold payments or ground rents, if any. in the manaer provided under pangraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due. dirocdy to the ~ psyee theroof. Borrower ahall promptly furnish to Lender all notices of amounts due under this paraarsph, and in t6e aveat Bormwer shall make paytnent dirocUy. Borrower shall prompUy furnish to Lender receipts evidencing such payments. ~ Horro~wer shall promptly discharge any lien which hu priority over this Mortgage; provided. that Borcower shall not be required to diacharge any such lien so long u Borrower shall agree in writing to the payment of the obligation secured by such lien in a manner acceptabk to Lender. or shall in good faith contest such lien by, or defend enforcement of such lien in, - legal proceedings which operate to prevent the entorcement o( the lien or forfeiture of the Property or any part thereof. S. Haara IaWUawce. Borrower shall keep the improvements now existing or hereafter erected on the Property insurod ~ agai~xt lou by firc, hazards included within the term "extended coverage". and such other hazacds- as l.ender may require wd in such amounts and for such periods as Lender may requirc; provided, that Lend~r shall not requirc that the amount of such coverage exceed that amount of coverage required to pay the sums secured by this Mon~age. The iosurance carrier providing !he insurance shall be chosen by Bonower subject to approval by Lender, provided, that such approval shall not be unreuonably withheld_ All premiums on insurance policia shatl be paid in the manner - ~ provided under paragraph 2 hereof or, if not paid in such manner, by Borrowu making payment, when due, directly to the i insunnce carrier. ~ ` All insurance policies and renewals thereof shall be in form acceptable to I.ender and shall include a standard mortgage ~ E clause in favor of and in form uceptable to Lender. l.ender shall have the right to hold the policia and renewals thereof, j and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid prcmiums. In the event of loss, ~ ; Borrower shall gwe prompE notice to the insurance carrie~ and Lender. Lertder may make proof o[ lou if not made promptly by Borrower. - Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to. restoration or repair of the Property damaged, proviJed such restoration or repair is economically feasible and the security of this Mortgage is ~ not thereby impaired- It such restoration or rcpair is not economically feasible or if the security of this Mortgag~ would = be impaired, the insurance proceeds shall be applied to the sums secured by this Morigage, wi~h the excess. if any. paid ~ to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from tlu date aodce is ma~led by Lender to Borrower that the insurance carrier offers to xttle a claim for insurance benefits, Lender is authorized to colltct and apply the insurance proceeds at Lender's option either to restoration or repaer of the Propertv or to the sums sccured by this Mortgage. Unless Lender and Borrower otherwise agree in writing, any such epplicalion af proceeds to principal shall not extend or postpone the Jue date of the monthly installmcros rcferred to in paragraphs I and 2 hereof or change the amount of suc6 installmeats. If under paragraph I8 heroof the Property is acquired by l.ender, all right. tide 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 acquiaitan. 6. heservatioo aod Maintenaan of Property; Leasebulds; Condominiums; Planned Ua~t Devebpmeals. Borrowcr ~ shall kesp the_Property in good repair and shall not com~vil yvaste or permit impairment or deterioration of the Property ~ " and shall compl~• 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 pertorm all of Borrower's obligations under the declaration ` or covenants creating or govern~ng the condominium or planned unit develupment, the by-laws and regulations of the ~ condominium or planned unit development, and constituent Jocuments. If a condominium or planned unit cievelopment ~ rider is executed by Borrower and recorded together w~th ~h~s Mortgage, the covenants and agreements of such rider ~ shall be incorporateJ into and shall amend and supplement the covenants and agreemrnts of this Mortgage as if the rider i ~ were a part hereof_ ~ 7. Protectioa of Lende~'s Securfty. If Borrower (a~lc ta perform the covenants anJ agreements contained in this { Mor~gage, or if any action or proceedmg ic cummencrd ~h~ch materially affects t_e~Jer's ~nterest in the Properry, ~ indudmg. but not 6mited to, em~nent domain. inu~h•ency, rode enforcement, or arrangemen~s or proceedings invohing a ,I ~ bankruPt or deceJem. then Lender at Lender'~ option, up~?n notice to Borrower. ma~ make such appearances, dishurse sueh sums and ~ake such ac~ion ac is nece~sary tu prutecl Lender's mterest. inrlud~ng, but not limited to, disbursement of ~ reasonable auomey'c fccs and en~ry up~m thc Proper~~~ ~o make rcpairc. I( 1_cnder reyuircJ mortgage inwrance as a ~1 condiUon o( mak~ng thc loan ticcureJ by this Mongagc. Bi~rruwrr sh.~n ~dy thc premiwns requ~reJ to maintam such t insurance in efTect until .uch timc as Ihc rcyuircmcm for ~uch msurancc tcrminatcs ~n :~ccordancc wilh Borr~~wcr's and ~l ~ - ~ _ B~~K 312 ~~~~E 2144 ~ . _ . . R~.__.. . - ~_:~.~f~.~~