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Home My WebLink About2783 ' ~ . , . . . ~ F t UHt~~t Covan~~rts. YormNrer snd i.tade~ oove,~ant and s~roe u follows: f r L tyaw~t N tercl~l a¦i I~IenM. Borrowu shall ~xanM~) Wy when due tbe ptincipal ot and intercst on lhe i~iebtednw evidenoed b~? tbe Nota, pt~epaynx~t aod late charges a~ ~ovided in the Nwe, and the p~incipal ot and intere~t ~ oa any Futun Advances ~ecurod b~r this Munssje. 1~1ri ter 7'a~ ~¦i l~wrree. Subject to applical+k law ~x ~o a written waivcr b~r Lender. BorroRret s.ball pay ; W Leadet on the dsy moothl~? installn~eots ot principal and intcrcct are payahk under the Note, until the Note is paid in tull, a waA (Mrein "Fund~'~ oqual to a~e-tweltth of the yea~l~~ ~ax~y anJ assasrt~eets which may attain prioriry ave~ this _ 1 Mort~e. aad ~r+ouad reab oe the Penperty. it any, plus one-twelhh of yeuly~ premium i~stallments tor hazard inwrance, f plut oae-tweltth at yearly pre~niwn iestallmenls tor morttsje inuua~cc, if any. all u reuonably estima~ed initially and trom time to time by Leeder oa tLe buis of assessmcnts and hills and reasonabk atimates thereof. 7'tie F1~nds shall be beld in an instituticu~ the depasia or accounls of ~rhich ue insured or suaranteed by a Fedenl ot , Wte sjency (includina l~ende~ if Lender is such an institution). I.et~der shall apply the Funds to pay said taxa, sssessments. iawnnoa premiums and tta~nd tents. 1_ender may no~ charae for u+ hoWins snd sPplYins the Fundx. analyzin~ said account. oe varifyin~.and oomplins uid auessme~ts and bilh, uoku Le~der pays Bormwe~ intercst on the Funds and applicsble law petmia l~eder to mske such a char~e. Borrowe~ aad Lender may asra in writin~ at the time ot exaution ot this Mortpje tbat inteoat on the Funds shall be paid to Borrower. and unlas such a~reement is made or applicabk law f ~ requiret wd~ intersst to be Qaid. Lender shall not be requircd to pay Borrower any interest or earnings on the Fu~ds. Lender sba11 pve W Borrower~ witbout clurae, an annwl accountina of the Fu~ds showina credits and debits to the Funds and the purpose for which acb debit to tbe Funds was made. The Funds are pledged ss additional security for the sums sxured bp this Mortp~e. It t6e amount of the Fuadt held by Lender. together with the future monthly insullments of Funds payabk prior to t6e due data of tues. auessmeots, insurance premiums and ground rcnts, shall exceed the amount required to pay said taxa. anpsments. inwraace premiums aad `round rents u tt~ey fall due. such ezcess shall be. at Borrower's option, either prompNy repaid to Bormwer or credited to Borrower on monthly installments of Funds. If tbe amount ot the Fu~ds beW by Lender shaU not be sul6cieet to pay taxa, asxssments, insunnce poemiums and ground rcnts ss ~hcy fall due. Borro~?er sball pay to I.ender any amou~t necassary to make up the deficiency within 30 days trom the date notice is mailed by Leader to Borr~ower requatin8 payment thereof. Upon payment in full of dl awm =ocured by this Mortgage, l_ender shall promptly rcfund to Borrovrer any Funds l~eW bp I.eader. If under para~aph 18 hereof the Property ia sold or the Propeny ~s otherwise acquircd by Lender. Lender sbaD apply. no later than immediately prior to the sale of the Propeny or its acquisition by [.ender. any Funds held bv I.eoder at the time of applicarion ss a crcdit against the sums secured by this Mortgage. 3. A~lic~tia~ ot l~eds. Unlas applicabk law provida otherwise, all payments received by Lender undor the Note aad pua~raphs 1 and 2 hereof shall be applied by l.ender 6rst in payment of amounts payable to Lender by Borrower under patagtaph 2 hereof. t6en to interest payabk o~ the Note, then to the principal of the Note. and then to interest and principal on any Future Advaooes. 4. Crtr~a; I.kws. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributabk to t6e Propecty which may attain a priority over this Mortgage, and leacehold payments or ground rents. if any. in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Bor.ower making payment. wheo due. dirxtly to the psyee theteof. Borrower shall promptly furnish to Lender all notices of amounts due under this pang[sph. and in the event Borrawer shall make payment dircctly. Borrower shall promptly furnish to l.ender receipts ev~dencing such payments. Borrower shall promplly discharge any lien which hu priority over Ihis Mongage: provided, that Borrower shall not be ~equirtd to discharge any such lien so long as Borrower~shall agrce in writing to the payment ot the obligation sccured by suc6 liGn in a manner acceptable to l.ender, or shall in good faith contest such lien by, or defend entorcement of such lien in, kgal proc~edings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof. ; S. Hanrd i~ra~ce. Borrower shall keep the improvements now existing or hereafter erected on the Property insured 'f against loss by fire, hwrds included withi~ the term "extended coverage", and such otlxr hazards u Lender may require aad in wch amounts and for such periods as Lender may requirc; provided, that Lenckr shall not require that the amount of such coverage exceed that amount of coverage required to pay the sums securcd by this Monaaga 'il~e insuranoe carrier providing t1x insurance shall be chosen by Borrower subject to approval by Lender, provided. j thu wch approval shall not be unrcuonably withheld. All premiums on insurance policies sha11 be paid in the manner ~ pmvided under paragraph 2 hercof or, if not paid in such manner, by Borrower making payment, when due. dircctly to thc ~ insurance carrier. ! All insurance policies and rcnewals thereof shall be in form accep~able to Lender and shall include a standard mortgage ~ clause in favor of and in form acceptable to l.ender. Lender shall have the right to hold the policia and renewals thereof. and Borrower shall promptly furaish to Lender all renewal notices and all receipts of paid prcmiums_ in the event of loss. Borrower shall give prompt notice to the insurance carrier and Ixnder. Lender may make proof of loas if not made promptly ~ by Borrower. - - Uoless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of ~ the Property damaged. provided such restoration or repair is economically feasible and the security of this Mortgage is not thereby impaired. I[ such restoration or repair is not economically feasible or if the security of this Mortgage would be impaired, the insurance prceceds shall be applied to the sums secured by this Mortgage, with the excess. if any. paid to Borrowe~. if the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date notice is mailed by Lender to Borrower that the insurance carrier otiers ~o settle a claim for insurance benefits. l.ender is authorized to colltet and apply the insurance procteds at Lender's option e~ther to restoration or repa~r of the Property or to the sums secured by this Mongage. Unless 1_ender and Borrower otherwise agree in writing, any such applica~ion of proceeds to principal shall not extend or postpone the due date of the monthly installmems re(erred to in paragraphti 1 and 2 htreof or change Ihe amount o( suc6 installmeuts. lf under paragraph 18 hereot the Property is acyuired by Lender, all right, title and interest of Korrower in aod to any tnsurance policies and in and to the proceeds thereof resulting from damage to the Propeny prior to th~ sale or acquisition shall pass to Lender to the extent of thc sums sccured by this Mortgage immediately prior to such sale or acquisition. - 6. Preservatloa aod lNaintenance of Properly; Ltaseholds; Condominiums; Planned Unit Developments. Borrowcr ~ shall keep the Property in good repair and shall- not com~vit yvaste or permit impairment or deterioration of the Property ~ ~ and shal) comply with the provisions of any lease it th~~ Mortgage is on a leaschold. If this Mortgage is on a unit in a ~ coadominium or a planned unit deveiopment, Burrower shall per(orm all of Borrower's obl~gations under the declaration or eorenants creating or governing the condominium or planned uni~ development, the by-laws and regulations of the condominium or planned unit development. :~nd cons~ituent d~xument~. I( a condominium or planned unit Jevelopment ~ rider is executed by Borrower and recordeJ together w~th thit Mnrtgage, the covenants and agrcements of such rider ~ shall be incorporated into and shall amend anJ supplement the co~cnants anJ agreemcnts of this Mortgage as it the riJer ; were a part hereof. ~ ~ 7. Profection ot I,ender's Secur{ty. If Borrower faik a~ ~r(orm the covenants anJ agreements contained in this Morlgage, or if any action ur proceeding cummcnee.l which materiaUy~ afiec~s 1_ender's ~nierest in the Properry, : ~ including, but not 6m~ted to, em~nent domain. inu?1~•enc~~, code en(orcemcnt. ~.r arrangementc or proceedings invoh•~ng a , ~ bankrupt or decedent. ~hen l.ender at Lender's option, uEx?n not~ce to Borrower, ma}~ m~ke such appearances, disburse such ~ sums and t~ke such ac~iun ac is nece~sary lu prolect Lender's interest. ~ncluJing. but not lim~ted to, disbunement of reasonable aUorney'.s fees and entry up~~n ~he Propcrty to make rcpauti. 1( Lcnder rcy~~ircd morlgage insurance as a condrtion of makirig •thc loan ~ccured by th~s M~~r~~agc. B~~rrawcr sh:dl pay thc prcmiinns requireJ t~ mainlain such 5 insu~ance in etTect until wch ume as ~he reyuiremenl (or .uch in~urance Ierm~natr~ in accordance wilh Borrower'~ and f ~ - a~~r1x312 P~E27?9 ~ i _ _