The URL can be used to link to this page

Home My WebLink About0056 st _ Ureirarctw OovaNattra. lorrower sad Lander covenant at~d agree ss tolbwa: 1 >!'ttptawt et ><sissi~al tttM YMsus;. Borrower shall prorrtptly pay when doer tbs principal of and iabrret on the ittdeblednsss evideooed by the Note. ptropaymeat and late charges as provided in the Nato. and the principal d an0 interest as any Future Advarttx: ~et:urrid by the ~tartsaga. Z 1h¦tls tar 7boss ttsti 4araoea Sltbject to applicable law err to • written waiver by Lander, Borrower tdtaB Pay i to Fender oa the day rttoathly iasulhttertts of principal and interest arc. payable under the Note. until the Nob is paid ht fuH. a altos (herein "'Funds' equal to one-twelfth of the y~eariy tazcc and anawttatts which may attain priority over this ~ 1 Mortgage, and ground rertb oa t6t Property. it any. phis ate-twdhh of ye~arf~ pt+eraium instal4nenb for hszud irwuaacs. phrs onatMreltth of yearly premium irotallruertb for rrtortgage insttrart0e: if ally, all as reawnably ptiauted initially and trees lima to time by Leader on the here of assessments and hills and reasonable estimates thereof. t The Ponds shall be heW in as institution the deposia or accounb of which are insurod or guaranteed by a Federal eft stab ageary (inchtding bonder if Lender a such an irt:titution). Leader shall apply the Funds to pay said taxes. isseesntatb, inwnttioe prartiurns and ground reab. Lender~may not charge for so holding and applying the Funds, analyzing said aooouM, ' or verifying.aad compiling said aaessrrtents and bills, unless Leader pay: Hortower interest oa the Funds and applicable law permits Lender to make sutdt a charge. Borrower and Lender may agree in writing at the tune of execution of the- Mortgage that interest oa the Panels sbaq be paid to Borrower. and unless such rcgroprtart is made or applicable law require sudt interest to be paid. Calder shall not be required to pay Borrowei any interest a• earnings on the Funds. Lender :hall pva to Borrower, without charge, an annual aooounting of the Funds showing credib and debits b the Furrds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the wms stxured by this Mortgage. - _1[the.aaototmt-o[.the.FundsbeJdLy-I.e,a3er..together _with_the_future_taonthly ittstsUtoents of Futfdr.pt?yab~k_pr~ ro _ - _ the due dabs of taxes, assasmertb, irtsttranoe premiums and ground rents. shall exceed the amount required to pay said taxes, anestnoeab. iawranoe premiums and ground reab as they fall due. such excess shalt be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Fund: htdd by Leadce-slull not be to pay taxes, asaasrnents. irauranoe premiums and ground rents es they fall due. Borrower shall pay >n Lender any atnount necessary to make up the deficiency within 30 days from the date notice is mailed by Leader bo Borrower requesting pa)iment theroof. UPS Payer ~ fuU of aU sums secured by this Mortgage. Lender shall promptly refund to Borrower any Funds _ held by Lender. It under paragraph 18 htr+eof the Property is sold a the Property u otherwise soquired by Lender, Leader sbaU apply. rro later than immediately prior to the sale of the Property or its aoquaition by Fender, any Funds held by Leader at the time=of application as a er+edit apiwt the sums sxur+ed by this Mortgage. 3. AppYatia~ d Pgmeaib. Unless applicable law provides otherwise. all payments received by Lender under the Note and paragraphsland2-ber+eof_dull-be_appliedby_Lender&stin_paytnent_ofamounts-payable-to Lender-by_Borrower_ under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and principal oa any Future Advances. 1. Crarges; Liens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to- the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any. is the manner provided under paragraph 2 hereof or, if not paid in such manner. by Borrower making paytnmt, when due, directly to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under Wis paragraph, and io the event Borrower :hall make payment directly. Borrower shall promptly famish 'to Lender receipts evidencing such payments. Borrower shall pranptly discharge any lien which has priority over this Mortgage; provided. that Borrower shall not be required to discharge any such lien so bog as Borrower shall agree in writing to the payment of the obligatan 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 t1r. legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof. S. BLzara Irwrark~e. Borrower shall keep the improvements now existing or hereafter erected at the Property iawred against loss by fire. hazards included within the term "extendai coverage", and such aher hazards as Lender may require and in such amounts and for such period 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. f The i~urance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided. t that tKtch approval shall not be unreasonably withlZeW. All premiums on insurance policies shill be paid in the manner provided under paragraph 2 hereof or. if not paid in such manner, by Borrower making p'ayrnent, when due, directly to the insurance carrier. All inwrance 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 shall give prompt notice to the insurance carrier and Lender. Lender may make proof of ktss 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, provided such restoration or repair is economically feasible and the security of this Mortgage is not thereby impaired. If such restoration or repair a not economically feasible or if the security of this Mortgage would . be irnpaired._the insurarxx proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Leader 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 installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments. If under paragraph 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower in and to any Rsurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediyetely prior to such sale or acquisition. f. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Uait Devebpmes?ts. Borrower shall keep the Property in good repair and shall not comnpit 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 shall perform all of Borrowers obligations under the declaration or covenants 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. Protection of Lender's Secrrrlly. If Borrower fails to perform the covenants and agrcements 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 Lender's option, upon novice 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 tees and entry upon the Property to make repairs. if Lender required mortgage insurance as a condition of making the loan secure) by This Mortgage, Borrower shalt pay the premiums required to maintain such insurance in effect until such time as the regcirement for such insurance terminates in accordance with Borrowers and ee~~.,~~ , 1 . 6J~X Jl~ P4GE