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UHtroltr~t Oovttru?trss. Borrower trod Leader covenant and agree ss fdlowt:
~ ~111eM et ht¦e}al trri Itrlenet. Borrower shill promptly pay when dues the prindpal of and interest On the
;adebtedrtas evidenced by the Not0. prepayment and late charges as provided in the Note. and the principal of and interest
oa any Future Advaooa aectu+ed by this Mortgages
~ »<tr~i tTaa 1lattte ant lttttttrarrte. Subject to applicable law or to a written waiver by Lander. Borrower shall pay
b Leader on the day ttnonthry installments of principal and interest arc. payable under the Note, until the Note is paid in fuQ,
a stm (httreia "Fuods'y equal to one-twelfth of the yearly tax~~ and assastrret?ts which may attain priority over this
t Mortgage, and ground rash oa the Property, if any, plus one-twelfth of yearlli~ premium instalments for hazard insurance.
Plot ens-twelfth of yearly premium installments for mortgage insurance, if any. all as reasonably estimated initially and troar
time to tittle by Leader oa the basis of assessments and hills and reasonable estimates thereof.
'ILe Funds shall be btsld in an institution the deposiu or accounts of which are insured or guaranteed by a Federal of
state agency (including >r if Lander is such an institution). I.etrder shall apply the Funds to pay said taxes, sssesstrrents,
inwrartoe premiurrrs and ground rents. i.ender may not charge for sn holding and applying the Frrndt. analyzing said account.
or verifying-at+d compiling said aaessmtnts and hips, unless Leader pays Borrower interest on the Funds and applicable law
permih Deader to make such a charge. Borrower and Lender may agree in writing at the time of execution of the
Mortpge that interest on the Fttndt shall be paid to Borrower, and. unless such agreement is made or applicable law
regains such intsrest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
sbaA give b Borrower, without charge, an annual aocounGng of the Funds showing credits and debits to the Funds and the
purposes for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
by this Mortgage.
Tf the amount o[ the Funds beW by Lender. together with the future monthly installments of Funds payable prior to
the due dates of taxes, ataasmeoh, irrstuance premiums and ground rents, shall exceed the amount requited to pay said taxes,
asst:asaaents, insurance premiums turd ground rafts as they fall due. such excess shall be, at Borrower's option. either
promptly maid to Borrower a credited to Borrower on monthly installments of Funds. If the amount of tlx Funds
bteld by Leatller-shall not be sulliaeat !o pay taxes, a:seasrrienh. insurance premiums and ground rents ss they fall dues.
Borrower shall pay to Leader any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by Leader b Borrower requesting payment thereof.
Upon payment is full of aU sums secured by the Mortgage, Lender shall promptly refund to Borrower any Funds
btsW by Leader. If under paragraph 18 hereof the Property is sold or the Property rs otherwise acquired by Lender. Lrnder
tthall apply. ra later than immediately prior to the sale of the Property or its acquisition by Lender. any Funds held by
Lttoder at the time of application as a credit against the sums secured by this Mortgage.
3. A~iicatlaa of lgme~ Unless applicable taw provides otherwise, all payments received by Lender under the
Note and paragraphs 1 and 2 hereof shall tx applied by Lender first in payment of amounts payable to Lender by Borrower
under paragraph 2 hereof. then to interest payable oa the Note. then to the principal of the Note. and then to interest and
principal on any Futuna Advances.
1. Crtrges; Lieas. Borrower shall pay all taxes, assessments and other charges, Rees and impositions attributable to
tba Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any. in the manner
provided under paragraph 2 hereof or, if not paid in such manner. by Borrower making payment, whoa due. diroctly to the
payee thereof, Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph. and is the event
Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
Borrower shall promptly discharge any lien which has priority over this Mortgage; provided. that Borrower shall not be
required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien iq
legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property- or any part thereof.
S. Hazard Ittarnwee. Borrower shay! keep the improvements now existing or hereafter erected on the Property insured
against loss by fire, hazards included within the term "extended coverage", and such other hazards as lender may require
and in such amounts and for such periods as Lender may require; provided, that Lender shall not require that the amount of
such coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
'Ibe inwraace carrier providing the insurance shall be chosen by Borrower subject to approval by Lender. provided,
that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
insurance carrier.
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 policies and renewals thereof.
and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss.
Borrower shalt give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
by Borrower.
Unles: 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. If 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 Mortgage, with the excess, if any, paid
to Borrawver_ If the Property a 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 offers to settle a claim for insurance benefits, Lender
is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
or to the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
or postpone the due date of the monthly erstatlments referred to in paragraphs f and 2 hereof or change the amount of
such irtstallmepts. If under paragraph 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower
in and to any Insurance policies and in and to the proceeds thereof resulting from damage to the Properly prior to the sale
or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
acquisition.
f. >rr+etervatba and Maintenance of Property; Leaseholds; Condominiums; Planned Udt Devdopnxsfs. Borrower
shall keep the Property in good repair and shall not comtpit yvaste or permit impairment or deterioration of-the Property
and shall comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a
condominium or a planned unit development, Borrower shalt perform all of Borrower's obligations under the declaration
or covenwts creating or governing the condominium or planned unit development, the by-laws and regulations 'of the
condominium or planned unit development, and constituent documents- If a condominium or planned unit development
rider is executed by Borrower and recorded together with this Mortgage. the covenants and agreements of such rider
shall be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
were a part hereof.
7. Proteetiou of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this
Mortgage, or if any action or proceeding is commenced which materially affects Lender's interest in the Property,
including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
bankrupt or decedent, then Lender at tender's option, upon notice to Borrower, may make such appearances, disburse such
sums and take such action as is necessary to protect Lenders interest, including. but not limited to, disbursement of
reasonable attorney's fees and entry upon the Property to make repairs. 1t 1_ender required mortgage insurance as a
condition of making the loan secured by this Mortgage, Borrower shall pay the premiums required to maintain such
insurance in effect unfit such time as the requirement for such insurance terminates in accordance with Borrowers and
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