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Home My WebLink About0866 ` - UIJI}'ORl~t OOY~NAN7tt. BorrO~wK serf Letdet oOVerranl and agrcs as follows: >tiv.n.~ •t tri.e4a~ tttM sotrowet Mall promptly pay when due the ptirtclpal at aril iaarat oa the indebtosrtest sv,dertoad by the Nos. prepsFy,tteat sail lab t:harges as provides in the Kota and the ptirtt~pal of serf inbrea oa soy Futuro Advance aectu~ed by ttss Mortgage. !ri hr 1lsioss asttl Iltwttttitw Stib_ jet't to sppHcabk law or to a written wairer bl? Lender. Bon'owar t8taq Pn ' to Lsadet oa-the day monthl~r iasfalhnena of principal aitd intereu are. Payable under the Note. until the Note is paid in ftrti. a sum (herein "Fuads'~ equal to one-twelfth of the yearly tuts soil assawnatts which taay attsut ptioritp Duet this Morfgags, and ground troab oa the Pr~opstty, it atty. phrs ogre-twelfth of yearlli pretaitnn agdtlhttdtb for hazed irrsurarrce. plea oaa-twelfth of yearly preatittm iastapanenu tot mottgaje inuiranca. if air. a!1 as rcatodably ~itnatad inhiaiy and ft~o~m lima to time by Leader oa the bads of asse:stnenb and hills and reasonable e~irnata thereof. iuo rutltis soul Toe oelo in an aruittpian ere Nita or accounis tii worms ue iiawai :K ~3 s s c.~:mss stab agency. (inchding I~prder if-Lender is such an irWittrtion). Lender shall apply the Funds ~ pay said taxes. assessmarb. iaquaaoe premiums and gt+ouetd raab. Lender may not charge form holding and applying the Funds, analyzing said account. or verifyiagaad compiling said assasnratb and bills, unless Lender pays Borrower interest oa the Funds and applicable law permib Larder to make such a charge. Borrower sad Letrder may agree in writing at the time of execution . of this. Mortgage that interest oa the Funds shall be paid to Borrower. std unless such ap+eement is made or applicable law requites such iatatat to be paid. Leader shall not be r!egtrired to pay Borrower any interest or earnings on the Furrds. Lander ' shall give /o Borrower, with9ut charge, an annual aooounting of the Funds showing credits and debits to the Funds sad the purpose for which escA debit to the Funds was made. The Funds arc pledged as additional security for the sums st>cttrcd this M ortgrtge. If the amount of the Ftmds held by Lender, together with the future monthly installmenb of Funds payable prior to the due dates of tea, sssessrrrenb, iawtarroe premiums and ground rents, shall exceed the amount required to pay said taxes. •ssessmatb, iruttraaoe premiums and ground nab as they fall due. such excess shall be. at Borrower's option. either promptly repaid to Borrower a credited to Borrower on monthly instalhrrenb of Funds. If the amount of the Futrds 6eid by Leadershall not be tarfBcieat to.pay tea, assessrrrrertb. insurantx premiums and ground rettb ss they fall due, - Bono~trer a<ball pay to Lem soy sniount necessary to make up the delkienc~ within 30-days-from the date notice is mailed- by Leader b Borrower regtuestitig payment thereof. Uptw payaxat in fuq of aq stuns secured by this Mortgage. Lender shall promptly nfurM to Borrower any Funds Geld by Ltmder. If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender. Lender shall apply, rro Tatar than immediatdy prior to the sale of the Property or ib acquisition by Lender. any Funds held by Leader at the time of application as a credit sgainst the sums secured by this Mortgage. 3. A~iieatla¦ et lgmeats. Unless applicable law provides otherwise, all payrnenb received by Leader under the Nob std paragraphs 1 sad 2 hereof shall be applied by Lender first in payment of amounb payable to Lender by Borrower under paragraph 2 hereof. they to interest payable on the Note, then to the principal of the Note, and then to interest and Principal oa any Future Advaooa. 1. CiaRes; Lk~s. Borrower shall-pay all taxes. assessments and other charges, titres and impositions attributable to the Property which may attain a priority over this Mortgage. and leasehold payments or ground rents, if any. in the manner provided tinder paragraph 2 hereof or. if not paid in such manner, by Borrower ranking payment. whoa due. directly to the payee thereof. Borrotrrer shall promptly furnish to Lender all notices of amottnb due under this paragraph. and in the event Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipb evidencing such paymenbd . Borrower shall promptly discharge any lien which has priority over this Mortgage; provided. that Borrower shall not be ` - tegttired to discharge any such lien so bog as Borrower shall agree in writing to the payment of the obligation secured by such lien in a manner aceeptabk to Lender, or shall in good faith contest such lien by, or defend enforoanertt of such lies in. legal proceedings which operate to prevent the enforcement of the lion or forfeiture of the Property or soy part thereof. S. Biararra tawrat,ee. Borrower shall keep the improvements now existing or hereafter erected on the Property iawred against loss by fire, hazards included within the term "extended coverage and such other hazards as Lender may require and in such amount: 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 wins secured `by this Mortgage. 1be inwrsnce carrier providing the insurance shall be chosen by Borrower subject to approval Lender, provided, I' that such approval shall not be unreasonably withheld. 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 payment, when due, directly to the inwrance 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 lass, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loos 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 is not economically feasible or i[ the sxtuity of this Mortgage would be impaired. the insurance proceeds shall be applied to the stuns 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 Lender within 30 days from the date notice is mailed by Leader to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender is authorized to collect and apply the insurance_ procceds at Lenders option either to restoration or repair of the Property or to the stuns 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 daft of the monthly inuallments referred to in paragraphs t 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 a~ to any insurance pdicies and in and to the procxeds thereof resulting from damage to the Property prior to the sale or acytrisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to strch sale or acquisition. • f. Preaervstioa sad Maintenance of Property; Leaseholds; Condominiums; Planned Unit De~eiwpmeab. Borrower shall keep the Property in good repair and shall trot comrpit yvaste or permit impairment or deterioration of the Property and stall rnmply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a catdoarinium or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration or covenants creating or governing the condominium or planned unit development, the by-laws and regulatans of the oondominitun 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 shalt amend and supplement the covenants and agreements of this Mortgage as if the rider wen a part hereof. 7. Prefectiorr of Lerder's Sectrrtty. If Borrower fails to perform the covenants and agrcemenb contained in this Mortgage. or if any action or proceeding is commenced which materially affects Lenders 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 notice to Borrower, may make such appearances. disburse such sums and take such action u 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. If Lender required mortgage insurance as a condition of making the loan secured by this Mortgage. Borrower shall pay the premiums required to maintain such iruurance in effect until such time as the requirement for such insurance terminates in accordance with Borrowers and - BOOK 3~.6 PaGE