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Home My WebLink About1108 ~ ~ i i j ~ ~ t i, i Utrcrrrtpt Covtr+srrrs. >torroarsr and Lender covenant and sgree is folbws: hgtttrNt et >lei~c4a1 sad iaf~erwf» Borrower shag praaptly Pay whpr dire tre prirscipd d sad iaetiest on tlse irdebtedaees evidenced b7? the Nave, prepayment sad late charges as provided in the 1Vote. sad tlrs pritrespal at and interest arc say Future Advance: second by this Martgaga llni fee Ttttpa trai ><aeerraaee. Sltbject to applicable law ax b a written waiver by Fender. Borrower shah pay b Fen4er on the day monthly iasulirgena o[ principal and irrterest are payable under tier ~:ote. until the Note is paid iA lull, s sttm (hartia "Fuads"1 equal to oae~tM?dtch d the ygrly tsx~ and asatxtraara which Dray attain priority aver this - >tlortgage, and grmtrad real: as the Pt±opsrty. i[ say. plus veto-twelfth d yeary? premiwa iosvlkaents [or hazard insrKSrrce. - pass oaatwd[th of yearly preroiwa iastallmena for mortpgac insurance. if arty. an ss reasonably estimated iaitisny std imaa limo m lilac by Feadar oa the bass d assessrnrna sari hills and reasonable estitaata thered. The Farris Shan be hdd is as instittrtiar the deposits or aceouaa d which sa iratrred or ginrant~ed by i Federal ar stale agency (nsadnding lerrdcr if Laden is such an itWitution). Leader shall apply the Flrerds so pray said taxss. tea. imuraaoe prtaaiuru< and grand Teats. I.errdtr may not drarge for so holding sad applying the Funds. analyzing said aooowrt. of verifyritrP, snd a?mpiliag said sssessmena and bills. unless Leodtr pays Borrower interest oa the Funds and applicable taw petarits Ftssder to make such s charge. Bonowa sari Lender may agree is writing at the . tirrre d exoattioa d this )italgys that taterest oa the Funds :ban be paid to Borrower. sad uatess arch agreement is made a :pplitxbk -law .requires such ialp~est to ba paid. bender shall not be rerµured• co pay Borrower any interact or arniags oa the Funds. Lsader Shan give Lo Borrower. without charge, as sntrt>:t aowutttiag d the Funds showing credits sari debits to the Frrrds and tlro purpaa for which each debit to the Fwds was mach The Funds sre pledged as additioeal sr:.uiiy for the sums :Deuced by this >ttatgye. - N the ataount of -tore Fine htid by Lender. together with the future monthly urstatlrneats d Funds payable Prior to the due dales d taxes. assasnreaa, irdursnoe pram and ground Tones. sha0 exceed the amount required to pray said taxes. aasaames~ts. lewrarrot praanura sari grorcnd rents as they fall dot. such excess shall be, st Borrower's option. either promptly repaid /o Borrower o< c:edibd W Borrower on monthly iustallmara of Fund:. if the arao+rat d the Funds . held by Leader shaII Dot be sd6cient to pay taxes, assess~merra. iasuraaoe premiums and ground rants as they faq due. Hoerawer Shan pay m Leader any amount aeoewry to make up the deficiarry? within 30 days from the dace notice is mailed by Felder b Borrower regrtesttag payment ther'eof- Upon payment is fun. d au surm secured by this 11[ortgage, Lender shall promptly refund to Borrower any Funds . tsdd by Deader. If under paragraph 18 hereof ttre Property is sold a the Property s otherwise acquired by Leader. Leader - shan apply, rw later than immediatdy prior to the sale of the Property or is aoquisatioa by Lender. soy Fwds hdd bt? Leader at the time d appticatioa as a credit agsrast the sums secured by this Mortgage. • 3~. A~ealian e[ lgaei. Uakss applicable law provides odrawise. alI payments received by Leader wrier the Note and paragraphs 1 and 2 hereof shall be applied by Leader first is payment of aaaouna payable to Leader by Bonrower - - uader panigraph 2 hereof. they to interest payable oa the Note, than-to the prurapal d-tire Note. and then to irrtaest sad ~ . piacipd on say Future Advaoas: - 4. Ciarges; Lies:. Borrower shat! Pay-aU taxes, assessrnenti and other charges,. 6na and impositions attributsbk to - tbe Property which any attain a priority over this Mortgage. and leasehold payaseats or ground rafts, if soy. in the manner provided under paragraph 2 hereof or, it cwt paid is such manner. by Borrower making psymtat, whoa due, directly to the payee thereof. Borrower shall promptly furnish to Leader an notiots d anrouaa due under this paragraph, and"ea the event Borrower shall make payma~t directly. Borrower. shat! promptly famish to Larder receipts evideaaag such Pay- - Borrower shag promptly disdrarfpe say lien which has priority over this Mortgage: provided, that Borrower shan not he required to discharge any such lien so tong as Borrower shall agate in writing to the paymnnt of the obligation secured sudrlim in s maaoer aooeptabk to Larder, ~ shall in good faith contest such lien by. or defend enforcement d aerie ilea m. . legal proooodiags-which operate to prevast the enforcarrent of the lien or forfeiture d the Property or say par[ thereof. S. 1Saranl Irrwrawea Borrower strap-keep the imptwanena now existing or haeafta crated ao the Property imrrred agaimt loss by fire, 6ar~rds indu ~d within the term °exta.dod caverag~e", and such other barards ss Lender rosy require - - artd bsuch amaraa and for suigr periods as Lender may resquire: Provided. that Leader shah not require that the aarouat d such-omrerage exceed that amount d tovenge required to pay the soars secured ~y this Mortgage. - The iawnnoe carrier providing the iaturanoe shall be chorea by Borrower subjat to approval by Leader. provided; - that such sppmval shall not be rmreasonabfy withheld. All premiums on leswaoce policies :hail be paid in the msooa . provided under paragraph 2 hereof or, if not paid is such manner, by Borrower making payment, when due, dirtr~? to the ioruaace carrier. - - All. inwrarrce policies sad renewak thereof shall be in form acecptabk to Lender sad shall indrde a standard mortgage clause in favor of and in form aceeptabk to Ltoder. Lender shall have the rilgbt to hold the pdicia sad renewals thereof. sad Borrower shall promptly furnish to Lender all renewal notion sad all r+eoeipa of paid premiums. in the event ai bas. Bomowa shall give prompt srotice to the insurance carrier sad Lender. Leader may make proof d toes if not made Promptly by Borrawa~. ~ _ Uotas Larder and Borrower otherwise agree in writing. insurance proceeds shall be applied to restoration or repair of - the Property datnagod, provided such restoration or repair is eca~orrricatly feasible and the sxrrrity d this Mortgage is not thereby impaired. If such restoration or repair is not economically feasible or if the security d this Mortgage would be impaired, the irrsrrranoe proceeds shall be applied to the sums secured by this Mortgage, with the excess. if anY• P~ to Borrower- if the Property is abandoned by Borrower, or it Borrower fails_ to nspad to Lender wimia 30 days from the " date ootioe a mailed by leader to Borrower that the iawraooe carrier offers to settle a claim for irwersace ttae6is. Lender is authorized to colk~`t and apply the inwrance proooeds at Lender i option either to restoration or repair of the Property of w the sums secured by this Mortgage. - - Uakss Lender and Borrower otherwise agree in writing, any such application of proceeds to principal span not extend or postpone the due bate of the monthly mstaUrnents referred to in paragraphs 1 and 2 hereof or change the amount .of such uuizitlmeatt. If under Paragraph 18 hereof the Property is acquired by Leader. all right. title and interest of Borrower in and to say Assurance pdkies arwi in and to the proooods thereof resulting from damage to tlse Property Prior W the sale or acquisition shall pass to Lender to tbt extent of the sums saxssed by tha Mortgage immediately prigs to suds sale or - f. Itrcaervatloa sad Mahteasace d Property;- Leastboid~ Condor llsrned Unit 1Devdv~eab. Borrower shah kesep the Property in good repair and shall not comwit jsraste or permit impairment or detsriorataw d the Ptopprty and stsatl comply with the provisions of any lease if this. Mortgage is on a leasetold. if this Mortgage is on a unit in a - g condoarinit~m or a planned unit devclopmeat, Borrower shall perform all of Borrower's obligatioro under the dsxtaratioo or ooveaaaa creating or governing the condominium or planned unit devetoprnent. the bq-iaws and regulations o[ the i condominium or planood unit development. and constituent documents. If a cosrdominswa or p1a_*rtred unit developrrssnt rider is exacuted bf Borrower and recorded together with this Mortgage, the covenants sad agroaneats of such rider shall be incorporated into and shall amend and suppkmcnt the covenants and agceenrena d this Mortgage as if the rider x were a part hereof_ - . 7. ;'re~rtios d header's Secwfly. If Borrower fails to perform the corersants and agresaretna contained 'in this Mortgagr, or if any action ur proceeding is commenced which materially affects Lender's inttrest in the Property, inet•~bing. bul not limited to, eminent uasnain. insolvency. code rnforcement, or arrangements or proceedings invdving a ~ baak.upt or decedtnt. then [.ender at i~oder's option, upon notice to Borrower, may make such appearatsces, disburses such - sums and take such action as is necessary to protect Lenders interest, including. but not limited to. disbursement- of reasonabd.: attorney's tees and entry upon the Property to make repairs. if Lender required mortgage insurance as a condition of making the ban securesd by this Mortgage. Borrower shall pay the premiums requirsxl to maintain such - irrssstaace in efkct until such time as the requirement for such inwrance terminates in accordance with Borrowers sad 1