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Home My WebLink About2241 - ~ Uwtr~oust GbvsHarns. fioctowat sad Lender covarant and spee as fvliows: ~ TnQwwt of llise~l ttrti iaMtretA. Borrower shall proaptly pay when due she principal of anti iabttri as the iadebtedrraa evideeood by the Nob, prepaymart std late charges ss provrded in the Noes. anti the principal of and inbrtel txir asy Future Adtraaoes aecttred by this Mortp~e. - lttais felt 7laaoas tttatl i~etrratu+a SLbjec~t to applicable taw or !o a wtittar waiver by Fender. Dorr~ower tdtaN psY eo Leader oa the day monthly it>italUaertts d principal and interest arc-payable undo the Nob. oatd the Note is paid is full. a nrtas (IMtsia "Fuads'~ equal to ono-twdhh of the yearly taxer and a:tazsmatts which teat' attaut priorih? o~rar this Mortgage, anti pound rents oa tits Property. if say. phis one-tvrelhh of yearlli~ premi[n~ h~alttaents for haurd ittstuaace. Plm wre~tweltth of yearly ptstnirtm iastalltrrents for arortgnge itrsrtrantx. if say. ap ss rgsonabiy estimated initially std frost lima to time by Leader oa the basis of asses~tr.:r.!::ad hills and reasonable estimates thereof. - T6a flttrds shall be held IA an irrslltWiorr the deposits Ot accoturb Of whrdr alt itwtued Or guaranteed by a Federal er state ajenry (iachding Lender if Fender h such an iratitution). Lader shall apply the Rlrrrds to pay said taxes. iaarrarroe pranirarrs sad pt»xtd tints. Corder may not charge for sn holding sad applying the 1Ftmds. atralyzirrg said accoraN. a varifying.aad compiling acid assasrrrarts and bins. unless Larder pays Borr~owu interest oa the Funds std appliabie taw permits Leader to make such a clrarat. Borrower sad Lender- may epee is writing at the tune of utxution o[ this Mortgtye that iatert:t on the Flnrds shall be paid to Borrower. sad unless such apeaaart is made or applicable law requiree stxh intertri to be paid. Lender shall not be required to pay Borrower any inta~est a eartungs on the Funds. Leader alts!! giro ro Borrower. without- charge., an annual aooounting of the Funds showing .credia and debits ta• the Funds and die - purpose far whidr each debit to the Ftmds was tnsde. The Funds art pledged as additional security for-the sums secured M? ~ M• - iE ttie aarotart of the Pantie !told by Lt:ader. toadher with the ftrtura monthly iersWhaents of Funds payable prior to the due data of taxes. its, insurance praniunrs std pound rents, shag exceed the amount required to pay said taxes. at~sassaeats, iawtaaoe premiums anti gtotrrrd teats as they fall due, such eaeess shall be, at Borrower's option.- eiitha - promptly repaid b Borrower of credited to Borrower oa nrarthty installments of Funds. If the ataouat of the Funds Laid iq Leadar-shall not be itd6cieot to pay taxes. atis. ittswaaoe praaiums std ground rents as they fall due. Borrower shall pay to Leach any amount necessary to inalce up the deficieacy within 38 days from the date notice is mailed br Ltrodtx b Borrower r+egtratio8 palimatt thaeof. vl~ txY~ ~ full of all sums warted by this Mortgage. Lender :ball promptly refutd to Borrower any Funds held b~? Ltmder. If under paragraph 18 hereof the Property is sold a the Property rs otherwise acquired by tender. Leader shall apply. ao later than immetlaedy prior to the sale of the Property or its acquisition by Larder. say Funds lreW by Lender at the time of application as a credit agaimt the stuns aectrted by this Mortgage. 3. ARiieatiaa et Iiprmeals. Unless applicable law provides otherwise, aq payments received by Lender under the - Mott sad paragraphs I sad 2 hatof shall be applied b7? Lender first in payment of amounts payable to Lender by Borrower trader paragraph 2 hereof. they to interest payable on the Note, then to the principal of-the Note, and then to interest and - prinripd oa say Future Advances. - 1. Crsrger Iins. Borrower shall pay all taxes, assessments and other charges, fines and impositions- attributable to the Property which may attain a priority over this Mortgage, and kaschold payments or around rents, if any. io the manner prtrvi~d under paragraph 2 hereof or. i[ not paid in such manner. by Borrower making payment, when due. directly to the payee thereof. -Borrower shall promptly furnish to Lender ail notices of amount: due under this paragraph. and in the event Borrower shall make paytaent directly. Borrower shah promptly furnish .to Lender receipts evidencing such payments. Borrower shall Promptly discharge any lien which has priority over this Mortgage; provided. that Borrower shall not be toquired to discharge any such lien so brag as Borrower shall agree in writing to the payment of tbe obligation secured by such liar in a manner acceptablee to Lender. or shall in good faith contest such lien by, or defard enforeemart of such liar in. kgal proceedings which operate to prevent the enforcement of the -lien or forfeiture of the Property or any part thereof- S. )Elasarri Ianranee. Borrower shall keep the improvetnrna now existing or hereafter erected oo the Property itlsrrred agait>:t loss by fire, hazards included within the term "extended coverage". and such otlsr hanrds as Lender may require and in such amounts and for such periods as tender may require: provided, that Lender shall not require that the amount of sudr cot?erage exceed that amount of coverage required to pay the sums secured ~y this Mortgage. ~ The inwranoe carrier providing the iasurrrce shall be chosen by Borrower wbject to approval by Larder, provided, that such approval shall not be rnrres<wnably withheld. All premiums on in:tu~ance policies shall be paid in the manner provided under paragraph 2 hereof or, if trot paid in such manner. by Borrower making payment. wben due. directly to the inwrance 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 scoeptabie to Lender. Lender shall have the right to hold the policies and renewals thereof. and Borrower shall promptly furnish to Lender all renewal notices std x.11 receipts of paid premiums. In the event of loss. Borrower shall give prompt ttotice_ to the insurance carrier and Lender. Lender, tray tnalee proof of bas if not made promptly - by Borrower. - , - -Unless Lender and Borrower otherwise agree in writing. insurance proceeds shall be applied to restoration or repair of the Property damaged, Provided such restoration or repair is ecarornically feasible and the security of this Mortgage is - rwt thereby impaired. If such restoration or repair is not -economically feasible or if the security of this Mortgage would be impaired, the insurance proceeds shall be applied to the sutras secured by this Mortgage. with the exorss. if any.- paid - -to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to rcspord to Lander within 30 days from the - date notice is mailed by !.ender to Borrower that the insurance carrier offers to settle a claim for inwrarrce-betrefits. Lender is authorized to collect and apply the insurance proceeds at Lender's option tither to restoration or repair of the Property or to the wms secured by this Mortgage. Unless Lender and Borrower otherwise agree in writing, any such applicatiom of proceeds to principal shall trot extetd or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments. If alder paragraph 18 bercof the ProFerty is acquired by Larder, all right, title std interest of Borrower in std to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to nc~ sale or acquisition shall pass to Lender to the extent of the sums secured by this Mortgege immediately prior to such sale or - b. 1'lteserratioo sad Maiiatcaaace of rroperty; f.easehulds; Ccadomiaitugs~ Planned Unit DevdoNrents. Borrowtr shall keep the Property in good repair and shall trot comrpit yvaste or permit impairment or deterioration cf the Property - atd shall comply with the provisiats of any lease if this Mortgage is on a leasehold. if this Mortgage Is on a unit -in a coadtxninium or a planned unit development, Borrower shall perform al! of Borrowers obligations ands the declaration or covenarr!s creating or govtrnmg the con~minium or planned unit devebpment, the by-laws std regulations of they'' condominium or planned unit development. std constituent documents. If a condominium or planned unit development rider is executed by Borrower and recorded iogetber. with this Mortgage, the Covenants and agreements of such rider R ~ shall be incorporated into and shall amend std wpplenxnt the covenants and agreements of this Mortgage as if the rider _werc a part hereof. - y. Trotccdoa of Lender's Secarlty. if Borrower fails to perform the covenants and agreements contained in this ;Mortgage, or if any action- or proceeding is commenced which materially affects Lender's interest in the Properly, including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a bankrupt or decedent. then Colder at Lender's option, upon notice to Borrower. may make such appearances. disburse such surt?s and take such action as is necessary to prMect Lenders interest. including. but not limited to, disbursement of reasonable attorney's tees and entry upon the Proper?y to make repairs. If Lender required mortgage insurance as a condition of making the loan secured by this Mortgage. Borrower shall pay the premiums requital to maintain wch inwrance in effect until such time as the requirement for such insurance tetmmatei in aceotdanee with Borrowers and • - f 2 • i