The URL can be used to link to this page

Home My WebLink About0967 Rorrower and I.ender co~enant and agree ae followe: 1. Payment of Principa) and Intereat. Borrower ahall promptly pay when due the principa! of and interest un the indebtednesa evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and intereal on any Future Adv~nces secured by this Mortgage. 2. ~utde forTaxee and Insursnce. Subject to applicabte law or tc~ a writ:rn waiver by ixnder, Borrowershall pay to l.enderun the day rnonthly inatallments of principal and interest are payable under the Note, until the Note is paid in full, a sum (herein "Funds"? equal to one twelfth of the yea~ly taxes and assessmenta which may attain priority over th~s Mortqage, and ground rentx on the Yroperiy, if any, plua one- twelRh of yearly premium installmenta [or hazard insurance, plus on~twelfth ofyearly premium instaiiments for mortgage insurance, if any, <?il as reasonably estimated initially and from time t~ tirr~e by l.ender on the basis of :~sessments and bills and relsonable estimailes ihereo[_ The Fltnds shall be held in an inatitution the depoaita or accounts of which are inaured or guaranleed by a Federal or State agency ~including I.ender if Lender ia auch an inetitution)_ l.ender shall Apply the Funds to pay said taxea, assessments, insurance premiums and Rround rente. Lender may not charge for ao holding and applying the Funds, analyzing said accvunt, or verifying and compiling xaid Hsseesments and biqa, unlese I.ender pays Borrower interest on the E unds and applicable law permits I,ender to makr such a charge. Borrower :~nd Lender may agree in writing at the time otexecution of this Mortgage that interesl on the F unds shall be paid to E3orrower, and unlras auch agreement is made or applicable law requires such interest to be paid, I.ender shail not be required to pay l3orrov?er any interest or esrRinge on the Fltnde. I.ender ehaH give to Borrower, without charge, an annupl accounting of the Funds showing credits and debits to lhe Funda and the purpose for which each dehit to the Funds was made. The Funds are pledged a+additional security for the suma secured by thia MortgaECe. If the amount of the Ftinda hetd by I.ender, together with the f~ture monthly inst~~+llments of Funds payable prior to the duedates of taxes, asaessmenta, insurance premiuma and ground rents, shall excred the amount required to pay said taxea, asrzeassments, insurance premiuma and ground rents as they fall due, auch exceas shall be, at BoiTOwer's optio~, either prompUy repaid to 13orrower or credited to [3orrower on monthly installments of F'unde_ It the amount of the Funds held by I,ender shali not be au[ficient to pay taxea, assessments, insurance premiucns and ground rents ae they fall due, E3ormwer shall pay to I.ender any amount ne•~essary to make up the deficiency within 30 days from the date notice is mailed by Ixnder to E3orrower requestinR payment thereof. • Upon payment in full of all suma secured by this Morlgage, l.ender shall promptly refund to E3orrower any funds held by I.ender. If under paragraph 18 hereof the Property is sold or :he Property is otherwise acquirc~d by [.ender, I,ender shall apply, nv later than immediately prior to the sale of the Property orits acquisition by [.ender, any Funds held by Ixnder at the time of application as a credit against the sums secured by this Mortgage. 3. Appiicatiotn of Payments. Unless applicable law provide4 otherwise, all payments received by [.ender under the Note and paragraphs 1 and 2 hereof shall be applied by l,ender first in payment of amuunts payable to I.ender by Borrower under paragraph 2 hereof, then to internat payab!e on the Note, then to the principal of the Note, and then to interest and principal on any Future Advances. 4. Chargea; Liena. Rormwer shall pay all taxes, assessmentti:~nd ~~tht•r charKes, fines and impositiuns aUributable t~~ the Property which rs:ay attain a priority over this 61orlKa};c, und Ieaschold p.ivmrnts or Kround rents, i f.~riy, in the manner providEd under paragraph'l hereof or, i f not paic! in such manner, by Borrowrr makinK p:~ymenl, w•hen due. ~iir~~•t!y t~~ thi• pa}•~r thercr~f. Korruwer shall prumptly furnish to l.ender .~11 notices of amount.s due under this p:~ra~,*raph, and in th~• r~•ent KorruK•er shall mak~ p:~yment din~•th~, {iurruwer shall promptly furnish to L~>nder receipls evidencing such payments. {3urruw•er shail prumpth~ disch:?rK~• any lien w•hi~•h h:~s prinrih• u~•er thi~ itturtk:~Ke; pnrvided, that Knrrower shall not be required to di.char~;e anp such lii~ri ~o Ionk fi~rrruw~rr chaU akrFti~in ~•ritiny, tu thr ~~a~•mrnt ~~f thruhliK.ition securrd by ~urh lien in a manner accrptable to Ixwder. ~~r sh:ill in ~;~Nxf f:iith c~~nt~~xt sui•h lirn b~~, nr d~di•nd enfurce~mi•nt nttiui•h lie•n in, le~al pra•reclinKs w hich operate to prevent the rnforcement of the lien ~~r furfeitun• uf thi• f'r~~p~•rt}• nr ar:}• part tht~ny,f. 5. Hazardln~urance. tiorrower;haqkeeptheimpru~•ementsnoa•c•xistinK~~nc~~reafterercrtedunthePrupert~insuredakainstlr~sshy fire, hazards included wethin the tern~ "extrndi~d ~Y~vrray~r," :?nd such othe•r hazards as Lender may rec~uim :~nd in such amnunts and forsuch pt•riods as I,ender may myuire; prueided, th.it Ixnd~~r sh:?II n~~t reyuire that the amuunt uf such iti~~~erake exc~~~ci that amuunt of coverage rc~yuired to pa>• the sums secvreci by this MurtKa~;t. The insur:;nce carri~~r prn~•idinK th~• i~sur.~m•~• ch:iU 6~• ~•h~~~~~n bc Iturn~w~~r ~ubji~i•t ti~ apprv~val h~~ la•n~ii~r, prn~•idttil. that such approval sh.+ll not t?e unre.+u~~:~bh• w•ithheld. All premium. ~~n inwran~~~• p~~li~•i~•~ ~hall ix~ E~:ii~1 ~n th~• m:uin~•r ~irn~ id~~~l un~lrr par.~Kraph'~ herf~~fur. if ~i~~t paid in such m.~nner, b~• (iurn~H~cr in:ikiny; p:~~•m~•nt. ~chi•n du~•. din•~ tl~• tu th~• insur;~nr•i• i•,~rn~•c Al~ insurance pnlicies and reneµ•als therenf shall 1~ in fi~rm ai•cept:ibl~• to I w•ndF~r and shall include a titandard mnrtK:?Kecl~use ir, fa~•orof ,ind in form acceptable to I.ender. l.ender sh;?U ha~•t~ tht• ritiht tn h~~ld th~~ puli~•i~~s:~nd r~~n~~K•als tht•r~~~f, and fiurruwer shall promptly furnivh lo i.ender all renewal notices and aU rcY~eipts nf paid prrmiums. In th~~ ~•~•t•nt ~~f I~~ss, RnrrnKer sh.ilt ~i~•c• pn~mpt notictr to the insurance camer and f.ender. I.ender may makc pr«~f of I~~ss if nnt m:ufe prumFrtlt• b~• Rr~rroK•er. Unless I.ender and E~rrower otherwist• a~{re~~ in .+ritin~;, in~uranc~• pr~~cr~•ds ~hall M~ :?pplie(I ~II ~f~sturatiun or repair of the E'roperty dxmaged, provided such restoratiun ~~r rep:~ir is cr~~n~nnically fe:~si}~le and the sr~•urity ~~f this A1nrtKaKe is not thereby i:npaired. If such rt•sk~ration or repair is not economica(ly feasihlr ur it thr s~rurity of this :~inrtKaKe K•ould Fr~ impaircYi, the insurance pnrceeds shal! beapplicd t~~ the sums secured by this Mortk.~Ke, ..~th the• e~xc-e :ti~,;f any~. ~r.~id to f~~rruw•er. If thi~ Pmpeny is abandonecl by Rnrrow•er, or if i~rrow•er fa~ls b~ re;pond to [,ender within :~fl da~~s fr~~m the datt~ n~~tic~~ i. ~nailid by~ I.c•ndc•r tu Ii~~rn~wt•r that the in~urance camer offers to settle claim for ~nsurance benefits, I.ender is authorizc~cl to c~~llF•~t and apph• the insurani~e pnHV•rds :u (~>nrier's uption rither to rrstoration or repair of the Property or the sums srcured ny this i~finrtKaRe. Unless Ixnder and Ronower otherwiu• aKrt~~ in K•ritinK, any such apphca~tiun uf pmccK~dti U? principal si?all not extend or p~stpone thedue date of the monthly installments referrrd to in par.~~;raphs 1 and '?'.u~n•of ur chan~;c• the amuunt of such installmrnts. If undet paragraph 1R hereof the Property is acquired by I.ender, all riKht, tiU~• arid interest uf IturroH•t~r in and t~~ any insurance ~~licies and in and to the proceeils thereof resultin~ from damaqe to Property prur to th~• ,.~1f• or as•ywsiti~~n sh:?Il p:?ss t~i 1.~•nder tu the extcnt uf the sums secured b~~ this 1lurtgage immediately prior to such sale or acqui~iti~rn. 6. Preaervation and Maintenanceof Property; l.a•asehc~ldti; ('ondominumv; Pl~+nned Unit Devel~~pments. Korrowershall keep the I'roperty in goud repuir and shaii nnt commit w~a,te ~~r prrrn~t i~npairm~~nt ur de•trrinrati~~n ~~f the- Prupe•m• and shall comply w~th the pro~•isions of any lease if this Mort};aKe i~ on a leas~~hold. If thi~ ~1urtKaKe• is nn ~i unit in a cundaminium or a planned unit development, fturrower shall perform aU uf Rorrower's ublikatiun~ under thr dtrl:~rati~~n nr ~•~ra•~•nantn ~•rratin~;or Kuvcrn~nK the cunduminium or planned unit development. the bylaws ar.d reKulatiuns uf thfr cund~~minium ur planntd unit dc~~•elnpment, and cunstituent documents. If a ~ unduminium or planned unit developme•nt rider is e•%tY'U~E't~ }IY I~QRUH'rr :u~d r~~~•urd~Y1 tuy;e•ther w•ith this MortQaKe, the a~venants and a~Krc~ments of such nder shaU t*t~ in~•ur{wrat~~ci int~~ :u~d ~h:~ll am~~nd :~nd .upple•m~•nt tht~~•u~•e•n:~nt~ and aRre~•mi•nttinf this 1liortK:iKeas if thr nder were a part hereof. Protection ot Lender'e Security. if Borruwer fails tn perfurm the rnvenants and ~Kreemente contained in thie Mortgage, or if any action or proceeding is cvmmenced_whi~h materiaUy affecte l.ender'a interest in the f'roperty, including, hut not limited to, eminent domain, ineolvency, code enforcement, or arrangemente nr proceedinKa involvinQ a bankrupt or decedent, then [.ender at I.ender's option,upon notice to Borrower may make auch appearancea, disburee sach sumR and take auch action as ie necessary to protect l.ender's interest, including, but not Iimited to, diebureement of reasunable attorney'v teea and entty upr~n the F'roperty to make repaire. [f Lender required mortgage insurance as a condition of makinR the loan secured by thiv M~,rtKage, Borrower shall pay the premiuma required to maintain euch ineurance in effect until euch time ae the rPquirement [or eu~h ineurance terminates in accurd~nce with Borrower's and [.ender e written agreement or applicable l.aw. Borrower Rhal( pay thi• amuunt of all mortKaKe insurance premiume in the manner provided under j paraqraph 2 hereof. ~ Any amounte diaburaed by I.ender perauant to this par:~Kraph 7. with intereHt there~~n, yha? become additiunal indebtednees ot Borrower aecured by thie Mortgage. Unleas Borruwer and I.ender akree to other terma uf payment, such amounta ahall be payable upon ~ nolice from [.ender to Bormwer requeatinR payment thereof, and ehall bear interrat frum the date r~f disburaement at the rate payable from time to time on outr+tanding principal under the Nnte unless payment nf interest at such rate would be cuntrary to applicable law, in which event such am~~unLg ahall bear intereat at the highest rate ~.~ermissibie under ~pplicable law. NothinK contained in thia paraRraph 7, ehall require Lender to incur any expense or take any action t~ereunder. ~iR ~~U'~~ ~i~ P~~E ~65