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Home My WebLink About1118 - _ - ~ ~ ;7 '.i~~ uNStwau ~ovat+et~rt~s, torr+arer and leader coveaaat a:~ sEree u follows: ~ p+q•s«~t et fsl.el~l tttr itr~etral. eorrower shall aomwl), pay what due the priardpsl of aaa ieuerest the ittdebtedaem eviderroed by the Note, prepayraeat sad lea charges ss provided in the Note, wad the pcittcipN of ttnd interest oa way Future Advtutoes stxtrred by the Mortgage. - g1Ai fit Tttatss ttrsd Itrraaaw Stirbject to spplicabk law or to a written waiver by Lender.. Borrower shall -pay b Lauder oa the w.y monthly iusullmettts of principal and interest arc. payable urtdtr the Note, alai! tbs Note is ~ is fte`~. a step (hsndit "Furtds'~ equal bone-twelfth of the year!!- tsxr. and assessmata which may attain priority over this Morigaga, and ground rates ort the Ptuptrty. if any, plus otx-twelRh of yearly- pretstittm installments for :.twrd iawraace, plus oaatMrWfth of yeatiy premium it>stalltaena for mortgage inutrance. if any. all as reas+wtably estitnsted initially and (rose time tt: tithe by Leader oa the basis of assessments and hills and reasonable estimates thereof. 'lbe Ftrrtds shall be held in as institution the deposits or accounbt of which are ittsured or gutuaateed- by a Fe+leral of slats agetrcy (iac[ttding Lender if Lt:ndtr a such an institution). !.ender stall apply tht FLrrds b pay said taus. ~ r insuratsoe ptemitterts and ground vanes. lender may not charge for so holding sad applying the Finds, analyzing said acootxN, or ve:ifying.and compiling said assessments and bills. unless Lawler pays Borrosva interest oh the Funds and appligbk !sw permits Leader to make such s chuge. Borrower at?d Lendu may agree ip writing at the tithe of extcutioa of this Mortgage that interest oa the Futrdr shall be paid to Borrower. wad uttless stub agroemea is made or applicable law s requires such interest b be paid. Leader shall not be required to pay Borrower way interest or earttings on the Funds. Lender - t shall give b Borrower. without chargt, an :nnua! xcouniing u~f the Funds showing ctedia wad debits b the Funds wad the ptupose~or which eadt debit to the. Funds was mach The Funds are pledged as additional sttcurity for the stars secured # iE the athouht o[ the Funds held by Let?der, together with -the future monthly iratallmeaa of Fund payable prior to the due datss of taxes. assessrheaa, itrstuantx premiums and ground rents. shag exceed the amount required to pay said taus. asaasmata, irsurattoe premiums atd ground rend as they fall due, such excess shall be, at Borrower's option, either ~ ~ promptly repaid to Borrower a credited to Borrower ot+ monthly instalments of Funds. if ibe; amount of the Funds held br Leader shall not be to pay taxes. assasmates, In'surantx prtaaiutns and ground react ss they fall dues, ~ Borrower shall pay b Leader any amount rreoesstry to make up the deficiency within 30 days from the daft: notion is mailed by Lender b Borrower requpting pajrment thereof. - Upon payment is full of all stars secured by this Mortgage, Lender shall promptly refund to Borrower way Funds held by Leader. If under paragraph 18 beteof the Progeny is sold or the Progeny :s otherwise acquired by Lender. Lender shall apply. no late than immediately prior to the sale of the -Property or its .scquisition by Lender,_ any -Funds held by - Leadtx at the time of spplicatioa as a -credit against the sutras secured by this Mortgage. 3. A~cdias of lspwresls. Unless applicable law provides otherwise. all payments receivtd by Lender under the • Note and paragraphs 1 atd 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower - uader paragraph 2 hereof, they to interest payable oo the Note, then to the principal of the Note, and then to interest and pri~ipal on airy Future Advsooes. t. Cbaeges; Lipts. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to the Properly which may attain a priority o-ier this Mortgage. and kssehold payments or ground rents. if any. is the msnncr provided under paragraph 2 hereof oi, if not paid in such manner, by Borrower making payment. whoa due, directly to the payee thereof. Borrower shall promptly furnish to Lender all notices of atrwttats due under this paragraph, and in .the event t Borrower shall- make payment directly. Borrower shall promptly- tumish to Lender-reotdpts evidencing such payments. . Borrower shag promptly discharge any lien which has priority over this Mortgage; provided. that Borrower shall not be required to discharge any such lien so long uBorrower-shall agree in writing to the payment of the obligation setvred by such lien in a manner acceptable to Lender. or shall in g god faith rnntest such lien 6y, or defend enforceatetrt of such liar in, legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof. S. Hasanl Isa.rasee. Borrower shall keep the improrements now raciuin~ or hereafter eructed on the Property insured against bas by tire, hazards utcludsd within the term "extended coverage",'and such other hazards as Lender may require arid. in such amounts and-fo[ such periods as Lender may rr.quire; provided, that Lender shall not require that the amount of - such coverage exceed that amount of coverage required to pay the sums secured ~y this Mortgage.- - The insurance carrier providing the iawrance shall be chosen by Borrower subject to approval by Lender, provided. that such approval shall not be unreasonably withheld. All prcmiutns on insurance policies shall be paid in the manner provided under puagraph 2 hereof or. if not paid in such manner, by Borrower making payment, when due. directly to the insurance 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-aceeptabk to Lander. Lender shall have the right to hold tht policies and renewals thereof, and Borrower shall promptly furnish to Lender all renewal notices and all rooeipa of paid premiums_ Im the event of loss. Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. - Uokss Lender and Borrowerotherwise agree in writing, insurance proceeds shall be applied to restoration or repsv of the Propt;ny damaged,-provided such restoration or repair is economically teasibk and the security of this Mortgage is not thereby impaired. If such restorati~xr or rrpair :s not e~rorrorrrically feasible or if the security of this Mortgage would be impaired, the insurance proceeds shall be applied to the slum secured by this Mortgage, with the excess, if any, paid to Bonower_ If the Properly is abandoned by Borrower, qr it_Borrower_fails to respond to Lender within 30 days from the date notice is mailed by Lender to Borrower that the instrance carrier offers to settle a chim for insurance bpre6ts, Lender is authorized to collect and apply the inwrance prorxeds at Lender's option either to reuoration or repair of the Progeny or to the surtts secured I,y this Mottgzge. _ - Unless Lander and Borrower otherwise-agree in writing, any such application of proceeds to principal shall not extend _ or postpone the dui: date cf .:~e monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments. If under paragraph ! 8 hereof the Progeny is acquired by Lender, all right, title and interest of Borrower in at:d to any-ittsurartre policies and in and co the I+rocoeds thzroot rewlting from damage to the Property prior b the sale or acquisition shall pass to Lxndtr to the extent of the sums secured by this Mortgage immediately prior to such sa•:c; or acquisition. - - f. lre~rervstioa sad Msisteasace of Property; Lessebolds; Condomieirrrws; Pleased Unit Dev shall .keep the Progeny in goad repair and shall not comrpit waste or permit im Borrower and shall cum with the ovisiors of an lease if this Mort a parrment or deterwratron of the Properly ply pr y g ge is oa a leasehold. If this Mortgage is on a unit in a condominium or a planned unit devefoprttent, Borrower shall perform aN of Borrower's obtrgatiorrs under the declara!ian or covenants crcatitrg or gr~verning the condominium or planned unit devebpment, the by-laws and regulations of the - condominium or planned unit development. and romtituent documents. If a condominium or planned unit devtbpment rider is executed by Borrower and recorded t:rgether with this Mortgage, the covenants and agt~tements of such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Mangage as if the rider were a par: hereof. ~ - y 7. Prottctios of Leader's Secnrlty, If Borrower fails to perform the covenants and agreements contained in this Mortgage, or if any action or proceeding i~ commen::d which materially aBects Lender's interest in the Property, including, but not limited to. emirrant domain, insoiveney. code enforcement, or arrangements or proceedings involving a Sankrupt or decedent. then Ix±rder at Lender's option, upon rwtice to Borrower, may make such appearance, disburse such cams and take such action as is rrecetsary to i::Mert Lentkr s interest. including, but not limited ~ to, disbursement of - reascnahle attorne;'s lets and entry upon the Properly to make repairs. If lender regnircd mortgage insurance u a condition of mal?ing the loan xcured by this Mortgage. Borrower shall pay the premiums revolved to maintain such inwrance in effect until such time as the requirrment for such inwrance terminates in accordance with Borrowers any' 1 - }