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Home My WebLink About0178 . i - - - - - _ -tea . t . ~ - a Uettrotut Qovctr,~ttra. >sorrowar gad Larder t~ventsnt and sgree as tolbws: i >k >htysest a[ leitte;pl trod lblssatsf. Borrower shad proenptl} pay when due the piadpai of turd iuttewt oa the indsbtedrras eviderroed by fire Note, prspayatsat gad late catarges as provided in the Nuts, and firs prirrcipat of feud ensstest oa aqy IthKuro Advarroos sectrnsd by this Mortgtge. - t Ptinde Qer 1~stt tMi Irrissrantw Sltbject to ttpplicabk Isw err la a written waiver by Lehr, >,otrwerm shall pay b Gendstr on flee day naathay itrstttlltsettts of principal surd inteR~st arc. payable trttdu the Nwe, until the Note es paid in foal.. a facets (hsnia "Funds' equal to oas-twelfth of the ypri~• ts~?cc and anasrrtvrtts which tray attain priority over -this 1?dorfgage„ and =r+omr_1 tntats on the Property. if nay. Flue Otte-twelfth of ysarh+' pttmium iagalltrtettts tot htwtd instrrarxe, plus oere~rsrgfth of ysariy pt~em:uta untalMaeats for tnottjage inutranoc, if nay. all ss rasonably estimated initially and ttvaa terns to time by leader oa the bass of assessments gad hills and reasonable estinutss thetKOf. 'Rre Ftmds shah be herd is an inuitution the deposits or accounts of which an scanned a guaraltteed by a Federal at stab ageercy.(iuchidittg l.Rnder if Lender is sr:cat an irrstitution2. Lender shall apply flee Funds to pay strict taxes. asssanrrwrts. irreurana premiums turd groual rents. i_ender may twt charge for sa hoWittg sod a~2ying the Frtnds. analyzing said account. or verifyirtgstad oarnpitia{ said assessments and buts. unless [.coder pays Borrower. interest on fire Funds and applicable save " ptsrmits Deader to make tsuclr :charge. Borrower acct Lender may egret: in writing at rho time of execution of this Mortgage that interest on the Ponds shad be paid to Borrower, acct uokss such apeenrettt is made or applicable law - . tegttices such interest b be paid, Lender shall not be required to pay Borrower any interest or earnit:gs on the Precede. Lender. shaft give to Borrower, without cturgs~ sn annual saounting of the Fund :bowing credits and dtmets to the Futtds and the - purpoee for which eadr debit to the Funds was made. 'Ibe Funds ants pledged as additional security for the sums accused by rich Mortgage. - U the smotutt of tots Funds held frf? tender. togaher with fire future monMiy instaaatnertts of Funds payable prier to the due dates of hxss, saessraeab, emwrarttx pamiwrts and grcwnd rents. shalt exceed the amount required to pay said taxes. aseeetxaeats. iassuranoe pretaiurro gad grated rer?~ as they fall-due. such excess'shall be, at Borrower's option. either promptly rspaid to Borrower or credited to Borrower on monthly irtstalhaeats of Funds. if the amocrttt of tlt_ fwtds - hetd br Leodar sfiall .not bs sulBsient- to pay saxes. sssastaatts, iasuraitoe praaieans and at+nuad rents as they tall due. Borrower atoll py w letder any amarnt necessary to make up the deficiency witltia 30 days from the date rwteoe es mailed try ltnder to Borrowsr raprestiag payment thereof. - - Upon payment ea furl of all _ sums sectursd by_ this Mortgsge. Leader shall promptly refund to Boirovrer any Funds - held by Lerrde' [f-under paragraph l8 hereof the Property is sold or the Property a otherwise acquirt~d by Lentkr. Lender shall spply, no later than iramodiately prior to the sale of the Property or its acquisition by Fender, arty Funm htdd by Lsoder at the time of application a: a credit against the suns secured by this Mortgage. ~ A!! et IPgrrettsb. Unless applicable law provides otherwise. all payments received by Lender under the - Note gad paragraphs :and 2 luroaf shall be ap;?liod by t.ertder first in payment of amounts payable to Lcnrkr by Borrower under pantgraplt 2 hereof. then to interest pzyabk oa the Note, then to the principal of the Note. and then to interest and priaapal on any Future Advaooes. - 4. (.'lltsrges; Lies:. 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 paymeN~ or gt mound ruts. if any, is the meaner pttrvided under paragraph 2 hereof or, if not paid in such tnsnr:er, by Borrower matting payment. whoa due. directly to the payee thereof. Borrower shall promptly tarnish to Lender aq ttotioes of amounts due anon this paragraph, gad in the ev~att _ Borrower shall make payment directly, Borrower shall promptly furnish to _ Lender receipts evedetrcing such payments. Borrower shaft premptty discharge any lien which has priority over this Mortgage; provided.` that Borrower shall not be negttirod to discharge any such Tien so bog as Borrower shad agree in writing to the payttcant ~f tree oblittalion setxrred bryr such lien in a manner acceptable to Lender. or shall in good faith contest such lien by, or defend enfoccentent of wch lien its, legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or say part thereof. S. Haar+i [rtaMasice. Borrower shall keen-the improvements now existing err hereafter erected on the Property insured against jags by fire hands included within the term "extended coverage and such other. hazards as Lender may require gad in such amounts and for such periods as Lender may require; provided. that Lender shall tat require that tht amount of such coverage excad that atnc;trnt of coverage required to pay the sums secured Eby this Mortgage. . 'IUe iastiranee carrier providing the insurance shall be chosen by Borrower wbject to approval by Lentlsr, provided, that such approval shall not be urtrcasortably withheld. All premiums on insurance policies s~a+l be paid in the manner provided under paragraph 2 trereoF or. if not-pain in such manner, by Borrower making paymaRt, when due. directly to the inwrance carrier. fill 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 ttte policies and renewals ther~oof, - aad Borrower shall promptly furnish to Lender all renewal latices and all receipts of patd premiums. In the event of toss. Borrower shall givt prompt ratite to the insurance carrier and Lender. Leader may make proof of bas if not made promptly - - by Borrower. - - Unless Leader :nd Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or rtpair of ~ ~P~Y damaged, Provided such restoration or repair is economically feasible and the security of this Mortgage is gat thereby impaired. U such restoration or repair is not economically feasible or if the sceurity of this Mortgage would fie impaired, the insurantx 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 faits to respond to Lendee within 30 days from the date notice is mailed by Leader to Borrower that [he insurance carrier offers to settle a claim for insurance benefits, Lender _ u authotinod to collect and apply the insurance proceeds at Lender's opt+on.either to restoration or repair of the Property pr 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 tree due date of the monthly installments referred to in paragraphs i and 2 hereof or change the amount of such installments. If under paragraph 18 hereof the Pro~,erty is acquired by Lender, al! right, title and interest of Borrower in gad to wy tnsurar?ce policies and in aced to the proceeds tltetoof rewlting from damage to the Property prior to fate sale or acquisition shall pass to Lenskr to the extent of the sums secured by this Mortgage immediately prior to such sale or acgtrisiteon. - f. Itisaer~stios sad Marrttoance of Property; Leaseholds: Condaminium~ Pfaased Udt Dev steal! keep the Property in good repair and shalt not cctmrpit yvaste or permit im °le' BO1iO1s`Nr pairment or deterioration of -the Property nerd shall comply with the provisions of .ny lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a catdomiaium or a planned unit development, Borrower shall perform ail of Borrowers obligations under the declaration OOYtnarliS Cr~arlag or governing the condominium or Qlanned unit deveiegment, the by-!aw•. and ltgttlations Of the condominium or planned unit development. anti constituent ciocutnents. If a condominium or planned unit development rider is executed by Borrower and recorded togerher with this. Mortgage. the covenants and agreements ~f s.reh rid.-.r shall oe incorporated into and shall amend and_ supplement. the covenants and agreements of this Mortgage as if the rider were a part hereof. 7. Pto/e.~ s,f Leader's SterrltJ. If Borrower faits to perform the tx?~t»ants and agreements-contained in this Mortgage, or if any action or proceeding is commenced which materially affects Lender's interest in the Property, 'secluding, but not limi!ed to, emrrsent domain. ins^Ivency. code enforeetnent, or ~rr~angerrenu or~proceedings involving a baokrupt.or decedent, then Lender at Letxkr's option, upon notice to Borrower, may.make such appearances, disburse such sums and Take ~ueh action as is necessary to protect Lendei s interest, including_ yut not limited to. disbursement of reasona5lt atronney's tea and entry upon the Property to make repairs. If Lender required mortgage inutrance as a conAition of making tlte: loan secured by this I.tortgage. Borrower shall pay ~ the premiunu required M Maintain such insurance in effect until effete time as fret reyuircment for such insurance terminates in accordance with l3viriovrer's and 3:; - b0~ c7~~ PdGE ~ f