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Home My WebLink About2196 - _ _y..~ - - _ • l _ , LTNtl~OtY QOYINAlt1'i. wOrr~Ower asd 1+00d1r ccvaaant sttd sgroe as fO110wf: >!'yuteof of hi¦eiMal tttii 1¦Ireai. 8onrrwr dtap promptly pry what due tits principal of attd irttaeet ore tlts irtdeb~edrtaee svidesoed bl? the Note, PrePryateot and isle cltatges as provided in the Noce, acrd the prirtciprl of gad inlereet ett any Fdturs Advartoes sscttrad by this Matp~e. i llltri for 7lttwt4 oral Irrweattet. Stithjett ~ ap4iicabk Isw tx to • writtat waiMer by Lender. Borro~rsr shsH pay i 1o Ltrsdx os tba day moatlth? installmenb of prietciprl snd interest arc. payabb under the Note. utttit the Noss is paid is fttp, a sots (Itst~ein "Fusds'~ egwl. to ons.twdhlt of the ye:tiy taxes and asiesstaeab which tnsy attain priority over this - t Matsags. and g~ twtlr a the Peopaty, if nay. pht: erne-twdhh of yearlr~ praaittat i~alhttette= for Aasatd ita:trrancs. ! plus one-twelfth of yearly preiaturs instalhtxna for nnortpt8e irtwrauo~ if nay, al! ss rasortsbly astintsted ittitialiy atd ft~ent tiros to time by Lander oe the brats of assessments gad hills arttt r+euonabk estintata tht~. 1Le Fttads chap be bdd is as ittsttittgion the dopester or accounts of wbidt are ittsttred of guaraateod b!y :Federal otr ~ slats agency (iaclttding Leader if Lender is such as ieWitutioni. 1_ertda shall apply the l~ m pay said bxa, as:aantattt. iaaaasos prernitans sad gnourtd rents. Corder may not chage form holding and applyias the Futds. analyzing said aceourtt, or snerifyiag.and aorrtpt~ing said atsasmenn and t>;ps, uatas Leader pays Borrower interest os the Feuds and applicable law - i permits Larder to tt~atke xttM a dtsrge. Borrower and Lt:rtder may agree is iivritiag at the time of ettonttion of this i lKortpBe that iMaest on the Frieda shah be paid to Borrower, sad ttdess sttdt agreement is trade a appticabk taw esquires arch inta+e•~ m be Arid. Lender alts!! not be required to pry Borrower arty interest or esrnittgt on the Ftttttls. Corder _ chap give to Harrower, witltotrt dtargs~. as annual aooountittg of the Funds showios credin and debits es the Foods and the purpose for which each debit to the Fuade was trade. The Fund: are pledged as additional secwity for the stuns secured b'f? t~ MaWtp- 1E rtes aatount of the Fttnds held bl? Larder. together with the ftrttue tttoathly irtswuaatn of Funds payable prior to the due data at< tanner, ast+asrnewa, irtstuanoe praniums and srottnd reran, shall exceed the amount required to pay said ta:a. aaeeeemeab, imatrartoe praniuats and ;round neon as they fall due. such excess shall 6e, at Borrower's option, either f peop~dy reprid to Borrower er aedited to Bormirer on monthly ittatalltaa?n of Funds. If the amount of the Funds bald by lL.esdersball sot bt; stt~ciaat tD pay taxes, assesstaatts. insurance premittrm and g~ rents as they fall due, Bormwr:r tdall pay to Leader nay amount aetxssary to make up the de5ciatcy within 30 days from the dat< terrine is mailed _ 6y Lmder 1o Borrower requpcina payntatt ttteer:of. - - Upos QayaeeM is fed! of all struts securod by this Mortgage. l:ender shall pranptly rsfttad to Borrower nay Funds hNd 6y [Roder. N trader paragraph 18 hereof the Property is sold of the Property a otherwise sequined by Lsstder, Larder ahsp spply, rte later than immediately prior to trio sale of the Property or its acytraition by i.atdcr, any Ftrads hdd by Lander at tbs time of application ss a credit apimt the sums sestue~, by;tbi:lttatHttge. ~ i 3~. A~lieadrs at layarealri Unless applicable lies provider otl~!ise, all paymt:rtn received by Leader under the { Note arid paragraphs 1 and 2 hereof shall be applied by Leader first in paymatt of amounn payable to Leader by Homoyrer tinder paragraph 2 hereof. that to intetat payable oa the Note; that to#Itc prineipst of .the Note, and then to interest and prinaprl an any Future Advaaas. - _ 1. Clargt~ Lktis. Borrower shall pay aB taxes, ass~vueats, gad_otber chatEes, fines. and impositions attributable to t the Property wltidt tray attaui a priority over this Mortgage, and kasdtoM payments or grotmd~ rents, if any, is the manner ptanided under paragraph 2 hereof or. if not paid in such manner. by Borrower m:iting prymatt, when due. ditectty to rile payee thereof. Borrower shalt promptly furnish to Leader al! notices of aatoeots due trader this paragraph„ sad i~ the event Borrower shall make prymeat directly, Borrower shall promptly furnish -to Lender receipts evidtncirtg such payments. BorTOwer shall ptomtxly discharge guy lien which has priority over this Mortgage: provided. ~1?at Borrower shag not be - requirod to discharge any such lirn so long as Borrower shalt agree in writing to the payrncnt of the obligation secured b1' such ties is a mauler sooeptaWe to Latd~er, or shall in good faith contest such lien by. or defend enfonernettt of such Bert in, ~ j kga! proceedings which operate to prevent the enforcement of the lien .or forfeiture of the Property or nay part thereof. g. Hruanl Iratrortce. Borrowrer shall keep the improvements now exiuing or hereafter erected oa the Property insured agaiasC lass by tire. hazards included within the term "extended coverage°, gad such other haze,.h as Lender may require gad is such amounts gad for such periods as !.ender may require: provided. that Lender shall test require Wat the amount of _ i .suds coverage exceed that amount of coverage required to pay-the sums sceurcd 1by this Mortgage. - The inwraooe carrier providing the insurance shall be chosen by Borrower subject to approval by Larder, provided. that >ruch .approval shall not be uweeas~nably withheld. All premiums on iaaaattee policies sltslt Ire paid io the manner provided under paragraph 2 hereof or, if not pair! in suds manner, by Borrower mak:t~re paymeut. whoa due, directly to the insurance carrier. AB iawrance policies and renewals thereof shall be in form acseptabk to Lender and shall include a standard mortgage clause in favor of and in form aceeptabk to Leader. Leader shall have the right to twld the pdicier and renewals thereof, - gad Borrower shall promptly furnish to Lender all rcrtewal rrotioes and all receipts of paid premiums. in the event of loss. . Borrower shall give prompt notice to the insurance. ptrier and Lender. Lender may mate proof of loss if not made promptly by Borrower. - . Unksc Lender gad Borrower otherwise agree in writing. insurance proceeds shall Ix applied to restoration or repair of i the Property damaged, provided such restoration or repair is ecortorttiggy feasible and the security of this Mortgage is nest thereby impaired. if such ~estontion or repair is .not economically feasible or if the security of this Mortgage would be impaired, the ituttranee proaais shall be applied to the sutras secured by this MoRgage, with the excess. if any. paid to Borrower. If the Property is abandoned by Sorrowet, or if Borrower fails to respond to Lender within 30 days from the date ttotitx is mailed by Larder to Borrower that the insurance carrier offers !o settle a claim for ittsuratttx bate5ts, Lenckr is authorized to cotjoct and apply the inwrance proooals at Lender i option ether to reuoration of repair of the Property or to the stuns secured by this Mortgage. Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to.principal shop not extend or postpone the dtre date of tfte monthly installments -referred to in paragraphs 1 and 2 hereof or cfiattge the amount of such ittstallmeats. If under paragraph 18 hereof the Property is acquired by Leader. all right, title and interest of Borrower in and to any tawraaoe policies and is and to the proceeds thereof resulting from damage to the Property prior to the sale or acquisition shall puss to Lender to the extent of the surras secured by this Mortgage immediately prior to such sale or i. )<reaenattos gad M;mtroaweY of Property; Leaseholds; Condowtiaitrors; iMawred Uttit Devd~ewb, Borrower i sltatl luap the Property is good repair gad shill not comgit yraste or pertait impairment or deterioration of the Property ~ and shat! comply with the provisions of any lease if this Mortgage is as a kasetw,d. 1f this Mortgage is on a unit in a catdorniaium or a planneai unit development, Borrower steal{ perform all of Bormwsr s obligations under the declaration ~ of covenants ueatiog or governing the condominium or planned unit development, the by-laws and regulations of the i catdomiaium or planned unit development, and constituent documents. If a condominium or planned unit development rider is exceutod by Borrower and recorded together with this Mortgage. the covenants and agreements of such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the ridtr were a-part hereof. - 7. PrstecKort d iender~s Sectrrfly. If Borror.~er fai{s to perform -the covenants and agreements contained in this F Mortgage. or if any action or proceeding is commenced which materially atfecis. 1_ertder's interest in the Property, including, but not limited to, eminent domain, insolvency. code enforcement, or arrangements or proceedings invoking a bankrupt or decedent. then Lender at 1_eockr's option, upon notice to Borrower,- may make Such appeanttoes, disburse such sums artd take such action as is necessary to protect Lenders interest, including. but rtot limited to, disbursement of reasonable attorney's fees and entry upon the Property to make repairs. If Lender required mortgage insurance as a - condition of malting the loan securer! by-this Mortgage, Borrower shall pay the premiums required to maintain such inswartce in effect until such titre as-the requirement for such insurance terminates in accordance with Borrowers and - - 1