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Home My WebLink About1347 a_ • Borrower and Leader oo~aaaat and apes as iolbws: 1. Payeasnt of Peiocipal and iatereat. Boeeowar shall promptly pay whw doe the priaapd of and iatereut an the indebtedasss evidenced by tae Note, prepayment sad late ~ s. provided is the Note, and the prindpal stead iatera+et as aeq FletareAdvaooesaeese+~ed by thu Morigase. 2 Leads for Taxes sad Iasnraaoe. Snbjcd b appliable law a b a written waiver by Leader, Borrower shall pq~r b Leader oa the day monthly installments of principal end interest are psyable undo the Note. until the Note is paid is fall, a sum (herds "Fuods'~ egaa! b oar twelfth of the yearly taxes and asseuameats which may attain priority over this Mortgage, and pound teats on the Property. iiaay, phts sae- tardM of yeadypremium installments for haurd inaurance,plus due-twelM of yearly pednium installments for mortsagrioaraa~ i[aay. all as reasonably estimated iail pally and from time b time by Leader oa the basis of apeeRtaeats and bills and reasoaab4 estiaaales thetesE The Fiends shall be held in as iaatibttioa the deposib ur acoouats of while see insue+ed or guaranteed by a Federal or State a~geaey (indudiag Larder i[ Lender is sack as ieestitntioa). Leader ahaA apply the Funds b pay said taxes. assaeaatuh, ieesusaooe per.:aiams axed - grouad rents. Lender may not drarge for so holding and applying the Funds, analyzing said aboeounf, or verifying and eompiliog said assessments and biW, anlaa Leader pays Borrower iateredoa the Fords and applicable law permits Laufer to makesude adrarge. Borrewsr and Leader may agree in writing at the tame of eucutioa of this Mortgagee that interest on the Fuadsshall bepaid b Borrower, +md salsas - such agmnneat is sonde or applicable law requires arch interest to be paid. Leads shall cwt be required b pay Baseorrer any ioferesR er earnings oa the Fbeeds. Leader shall give b Borrower. without large; sue annual aooounting othee Funds slwwiag crtdib and debits b the Funds aad.tbe purpose for which each debit to the Funds was made.'ILe Funds are pledged w additional security forthe sueassozueed bydeis 'viortgage. . If We amount of the Funds had by Leader, together with the Estate monthly installments of Fuels payab4 prior bthedaeda4s a[tausr assessments, iasaraeeoe premiueue and ground rents, shall exoaed the amount required to pay said taxes. as~eemts, insstaQOe pa+aaiuos . and ground cents as they fall due. such a:cess shall be, at Botrower'a option. either proonPtiy repaid to Borrowerarae3ited b Barrioweraa monthly installments of Fiends. If the amoaat of the Faada held by Laeder shall cwt be sufbcieat b Pay taus, asseasaeeata, inwranoe premiums and ground rents as they fii: doe, Borrower shall pay b Leader any amount necessary b mare up the de5aency within 30 days from the date Holies is mailed by Laeder b Borzower requesting paY~rueret tleereof. . Upon pati?meat in fall of all sums ebcreral by this Mortgage. Leader shall promptly refsad to Borrowee any fuels bad by Lender. If emier. parsgraph 18 hereof the Property is agld or the Property is otherwise aiognirtd by I.ender. Bader shall apply, ew later than isosediatdy prior to the sale of the Property err its acquisition by Lender, any Fiends held by Lender at the time of application as a aedit against thesamsseeuead by this Mortgage. - - 3. Application of Payments. Unless applicable law provides otherwrise, a!1 payments reoeiived by Leader adder the Nate sad paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Harrower sale: paragraph 2 heresL then b interest payrable oa the Note, they to the prindpal of the Note, and then to interred and priredpal on any Future Advances. 4. Charges; Liens. Borrower shall pay all to:ea, assessments and othercharges, fines and impositions attribntabk to the Ileapa~tywhitA may attain a priority over this Mortgage, and leasehold payments orgrcwnd rents, if any, in themanner paovided under if not paid in such manner. by Borrower eeeakin 2 g Payment; when dun directly to the payee theirtot Borrower shall pranptly tarnish b Leader all notices of amounts due under this paragraph, and in the event Borrower shall make payment directly. Borrower shall promptly furnish b Lender receipts evidencing such payments. Borrower shall pranptiy discharge any lien which has priority over this htorlgag~ provided, that Borrower shall not be tequieed to discharge any such lien so bug as Borrowershall agree in writing to the paymentof theobiigatioa secured 6g such Uea in a m annex aa~eptable to Lender, or shall in good faith contest such lien by. or defend enforement of such lien in.legal prooeediags _ which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof 5. Hasard Insurance. Borrower shall keep the improvements now existing or hereafter eroded on the Property inssred ~ierstbss by fire, hazards iaduded within the term "extended coverage." and such other hazards as Lender may require andw sash aeooun:a and for well periods as Lender may require; provided, that Lender shall not require that the amount of rude coverage e:oeed that amount of oorerage required to pay the sums secured by this Mortgage. . The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided, that each approval shall notce unreasonably withheld. All Premiums on insurance policies shall be paid in the manner provided under paragraph 2 hereof or if not paid lie such manner, by Borrower making payment, when due, directly to the insurance carrier. Ali insurance policies-and renewals thereof shall be in form acceptable to Lenderand shall indnde a standard moctsase douse in favord and in form aooeptable to Lender. Lender shall have the right to hold the policies and renewals. thereof, and Borrower aluJl promptly tarnish to under all renewal notices and all receipts of paid premiums. In the event of loss, Borrower shall give prompt notice to the iwatanee carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. - Uaiess Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to r+estoraition or repair d the Property- damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is not thereby impaired_ If setele restoration err repair is not ernnomically feasible or if the security of this Mortgage would be impaired, the inwtanee 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 $orrow+rr, orif Borr+awer Earls b respond b Lender within 30 days from the date notice is maiM_d by Lander to Borrower that the insurance carrier offers b settle a dsim far inanranee benefits, Lender is authorized to collect and apply the insurance proceeds at Lender's option ether to restoration or repair d the Property or the sums secured by this Mortgage. - Udess Lender and Borrower nth c. wise agree in writing. anysaeh application of proceeds to principal shall note:tend arposlpone t6edsie - date of the monthly installments ref.-:red to in paragraphs 1 and 2 hereof or change the amount of such installments. I[adder paragraph 18 hereof the I'eoperty is acquired by Lender, all right, title and interest of Borrower in and to say insaranee policies amd in and b the pruoer_ is - thereof resulting from damage to Property pilot to the sale or acquisition shall pass to Len ier to the extent of the sums se~sred by dais Mortgage immediately prior to such sale or acquisition. s. Preuervation and Maeinteaance of Property: Leaseholds; Condominnms; Planned Unit Developeueaets. Barr,ower al~aU keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease if thi3 Mortgage is on a leasehold. If this Mortgage is on a unit in a oondominiam or a planned unit Borrower shall perform all of Borrower a obligations under the declaration or covenants creatingor governing the ooodoeninium or plaanel - unit development, the by-lava and regulations of the condominium or planned unit development, and ooostitaeot doeumeenta. if a condominium or planned unit development rider is executed by Borrower and eroorded together with this agreements of such rider shall be inc ~ ~ anveoants :dd ` orporated into and shall amend and supplement thecrveveants and agreaaentsof tbislK;stgageas ifthe s rider were a part hereof. - t 7. Protection of Lender's Security. If Borrower tails to perform the covenants and agreaoents oontaioed in this Mortgage, a if nary nelson or proceeding is commenced which materially affects Leader's interest. in the Property. indeeding, bat ad limited to; emiamt damaeig, insolvency. node mforotment, or arrangements or prooecdiregs involving a bauelernpt err de+oedent, rhea Lender ad Lmdds option ~poa Holier b Borrower may make such appearances, disbcese sash same and take such action as is neoeasarr b protect Lender's iNeaesR, ~ induditig> but not limited to, disbursement of reasonable. attorney's fees and entry upon the Property to make regales. if Leeede: regained f mortgage insurance as a condition of making the loan secured, 6y this Mortgage; Borrower shall pay the premiums required b maoatada ' such insurance in effect until salt time as the regsirernent for such insurance terminates in aocordsace with Barruwer's and Cordele written agreement or applicable Law. Borrower shall pax the amount of all mortgage insurance premiums in the manner prg~rded ands: - ~ paragraph 2 hereof. My amounts disbursed by I.aeder persuant to this paragraph T, with interest thereon, shall become addetiaoal indebtedewa of ~ Bore+awer secured by this Mortgage Unless Borrower and Lender agree to other terms of payment, such amounts shall be pagradele upoia notice from Lender to Borrower requesting payment thereof, and shall bear interest from the date of disbersemeat at the rate payable !toes. time to time on outstanding principal ender the Note unless payment d intend at such rate would be contrary to applicable Law. m which event such amounts shall bear interest at the highest raft permissible under a~pplicablt lax•_ Yothing eoatained in this paragrsph 7. sbaH require Lender_to-incur any expaeae or tape any action hereunder. - - - k • - : - i