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Home My WebLink About1035 ~ - - _ - ~ i .t ) UHttroaw Oovartat~trs. Itorr+ower and header covenant and ogres as ioUows: !sp•etM of 1hi~tiMltl ttN isMtsaf. Borrower shall jranPtlY MY whar due the priadpal of acrd interest oa the i>tidebtedoess evidetroed by the Note, prepayeaerrt turd iue cltargss ac provided in the Nola. sad the ptHrdpal of trod interest oa any Frttute Advance: secured by this Mortgaja. >T. !ri Nr'f'atrat trsrtl Lrw>met. Sbbjoct to applicable law ax to a written waiver b7? La+rder. 8oet't>arw' ~1 PaY to Deader oa the day monthly installmetts of principal and int.~rect arr. payable under the Nora. until the Note is paid in full. a stem praein "Pooh'? agtul to arc-twelfth of the yearly tax~~ and assessnratts which tn.y attain ptiQrity over this Mortpga, turd jrowd t~euts ar the Property. if nay. plus one-twelfth of yearll?~ praniuta iusWlnretrts for htrzsrd rtrstrratrca. ; phis oae•twslith of yetuly preaaiutn iastallarents for nwrtgsse inutrsnce, if any. ati trs reasonably euimated initially and tree lima to tLms bS Leader an the bads of assessments and hilh and reasarabk euinwtes thetecf. The Fttuds shall be bald in an institution the deposits or accounts of which ate insured or ~rtaraateed by a Federal or i atus asency (iacfuding Lsader if Leader is such an itrstiturion). Leader shall apply the Ftttrds to pay said taxes, assasrnarss. iasuratree Premirtms and ~ottnd rents. -lender may nd charge for so holdias and applyinj tlrt: Frtnds. analyzirr= said account. a verifyi:tg.aad compiling said assessments and bilk. unku Lender pays Harrower interest on the Fu~rds and applicable law ~es Leader to make srtch a charge. Borrower and Lender Tray agree in writing at the tune of ezeCrttion of this Morepge that interest on the F'uada shall be patid to Borrower. and utrk><s such agreemart is made or applicable law - requira tptdr ialetest to be paid, Fender shall Trot be required to pay Borrower any interest or earnings on the Funds. Lender shall pve to Borrower, without charge. an annual accounting of the Funds :hewing credits and debits to the Futrds and the puepose far which eadt debit to the Funds was made. The Funds are pledged a::dditional security for the sums secured i this M i ~ TE theZ6e a~irroHuerrt of the Funds hdd by Larder, together with the ftsturc monthly installments of Funds payable prior b the due data of cases. assessments. itrwcanoe premiums and ltrottrrd ants, shall excad the ataount required to pay uid taxes. assessments, iawnttce ptanitttm and ground cents u they fall due, such excess shall be, at Borrower's option. either promptly repaid to 8orroweR a credited- to Borrower oa ttwrethly installments of Funds. If the ataotnrt of the Funds bdd by Letder shall not be•sttB'icigrt to pay toes. assesstrrarts. ittsunnce premiums and ground rents s3 they fall due. Borrower :ball pay to Leader any amount necessary to make up the deficiency within 3a days from the date notice is mailed by Leader tID Borrower regttating payment thetYOf. - Upoa payttseat in fuU of all sums secured by this Mortgage. Leirder shall promptly refund to Borrower any Funds held by Lender. If undo panrgaph 18 hereof the Property is sold or the properly a otherwise acquired by Lender. Leader t>ball apply, no later than immediately prior to the sale of the Property or its acquisition by Lender.. say Futrds held br . Leader at tlr~ time of application a: a cr+odit against the sums secured by this Mortgage. 3. A~liatisa at la~tr. Unless applicable law provides otherwise. all payments received by Lender under the Note and paragraphs 1 and 2 harof shall be applied by Lender first in payment of amounts-payabk to Lender by Borrower under paragraph 2 haeof? rhea to interest payable on the Note. then to the principal of the Note. and then to interest and princiipal on any Futtrr+e Advanots. - 1. C~ Liens. Borrower shat! pay all taxes, assessments and other charges. tines and impositions attributable to ~ the Property which troy attain a priority over this Mortgage, and leasehdd payments or ground rents; if any. in the manner pnotridod under puagrap4 2 hereof or, if not paid in such manner; by Borrower making payment, whoa due. directly to the payee thereof. Borrower shall protrrrptly furnish to Lender all notices of amounts due under this peregreph, and in the event Borrower shall make- payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrower shall promptly dischugt any lien which hu priority over this Mortgage: provided. that Borrower shag not be required to discharge any such lien so beg as Borrower shall ague in writing to the payment of the obligation secured by such liar in a manner acceptable to Lender. or shall in good faith contest such lien by, or defend enforcement of such lien in, legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof. i S. Hmrd lanrawce. Borrower shall keep the improvements now existing or hereafter erected on the Property ittwrtd ~ against bas by fire, hazards included within the term "extended coverage'. and such other hazards as Lend•:r may require and in such amounts and for such periods as Lender may require; provided, that [.ender shall not require that the amount of such coverage exceed that amount of coverage required to pay the wms secured Eby this Mortgage. 'Ibe inwrance carrier~toviding the inwrance shall be chosen by Borrower subject to approval by Leader. provided. that such approve! shall trot 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 polities and renewals thereof shall Ge 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 rcnowals thereof. and Borower shall promptly furnish to Lender all renewal notices and all receipts of paid prcmiurns. in the event of bss. , Borrowu shall give promot notice to the insurance carrier and Lender. Lender may make proof of bas ifJlot made promptly by Borrower. - Unless Lenderand Borrower otherwise agree in writing, insurance proceeds shalt be applied to restoration or repair of , the Property damaged, provided such restoration or repair. is economically feuible 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 j be impaired, the insurance 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 Lender within 30 days from the date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for ittwranoe berreGts, Lender is authoriud to collect and apply the insurance prooads at Lender's option either to restoration or repair of the Property or to the stems 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 . loch installments. If under ptrragraph 18 hereof the Property is acquired by Lender, all sight, tint and interest of Borrower in and to any irsrurance policies and in and to the proceeds thereof rewlting from damage to the Property prior to ttrc sale or acquisition shall pass to Lender to the extent of -the sums secured by this Mortgage immediately- prior w such sale or acquisition. - f. lr+iservstion sad Mtriotenaace of Property; Leaseholds; Cdndomiaiunts: Pleaded Unit Dereioprseats. Borrower shall keep the ProE:erty in good repair and shall not commit yvaste er permit impairrrrent or_deterioration of the Property and shall comply with the provisions of any lea.~e if this Mortgage r; an a leasehold. I[ this M~utgage is -on a unit in a ~ condominium or a planned unit development, Borrower shall perform all of Borrowers obligatiocs under the declaration - or cavettants creating or governing the. condominium or planned unit development, the by-laws and regulations of the ` ~ condominium or planned unit developtrnnt, 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 rsder - - shail be incorporated into and shall am:nd and suppter:unt the covenants and agreetntnts of this Mortgage as if the rider i were a part hereof. '7. Protteetioa of Leader's Secttrlty. If Borrower faits to perform the covenants ar:d agreements contained in this f Mortgage, or if any action or proceeding is commenced which matenslly affects Ixnder's interest in the Property. t including. but not limited to eminent domain, insolvency. code enforcement, or arrangements or proceedings involving a bankrupt or decedent. then Lender at i_ender's option, upon notice to Borrower, may make such appearances, disburse such sums and take such action as is necessary to protect Lenders interest, inelyding. bui not limited to, disbursement of reasonable attorney's fees and entry upon the Property to make repairs. if Lender requirrd mortgage insurance u a condition of making the- loan secure) by this Mortgage. Borrower shall pay the premiums require) to maintain wch iiwuance in eBect until such time as the requirement for.w:h insurance termroates in accordance with Borrower's and E