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Home My WebLink About2444 ! .Y. >C h ~ . . t ~ ` ~ ~ .~i~ Uwtrow Oovst+at+ss. Bottwtrer acid Ltatder covenant and agree as toltovra: . - ~ ~vM•t M land dweat. eorrowa shall promptly pay- what due the priacipd of aril iaeaeat on the ittdebtedtresa evidenced by the Nato, ptepayaaaat sad late charges as provided in ttte !rote, sad the principal d and inMeeat en any Future Advaooea second by this irtertgt~a. Z. ltitnia fet'ilnas and ltr¦rtrce. ~ to applicable law ar to a written waiver by Lender, Bostttovrar abap pap tD Lsttdsr oa the day monthly iastalhttena of principal and interest arc. payable under the Note. trttW tM None is paid is fait: a aunt (herein "Futtde'~ equal to one-tMrdith of the year!) taxcc and a:sessaxrta which may attain priority over this , Martpde. std proved rsab oa tM Property. it any. plus oaatweltth of yesrl~' praniram ieatalHaerta fns batiard irtsuratta, plea oo?twetlth of yearly pranium astalhnata far mortgage irtsunnce. it nay, di es reasonably estianaad initially aril from time to time by Calder on the betas of assessments -and hills and reasonable estitrtates thereof. 'Ibe Ftatds aha116e bald in an instittuicut, the deposia or aecouna of which sn ittsw+ed or guaranteed by a Federal otr ~ . slats sgeary (iachding Lender if Lender is such ,~n institution). Larder shall apply the Fttttds ao pay said taxes, staearrteaa. ioauranoe prerniuttta aril ground rata. !.ender may not charge for sa holding and applying the Funds, analyzing said account!, or vetitying.sad oompilittg said aaasntena and hilts. unless Leader pays Borrotwer interest oa the.Furds aril appliabk law pectoiia Calder to rralte such s clurge. Borrower and Lender relay agree in vrritiag at the lima of eXecution. of this Ir[origae West inteteat oa the Funds shall be paid to Borrower, atsd unless-such ap~oartatt is made or applicable law requires stsW interest io be paid. Lender shall not be required to pay Borrower sny interest a esettingc on the Futds. Lender - shaU give b Borrower, rritbout c6ar~e. sn annual aooounting of the Furls sbow?ni cntdits asd debia b the Furls sad the putpoeeMfor wbich.esdt dab_it to t>ta Fsmds was made. The FurtBs era pledged-as additional sxurity for the sums-se~urod - - If the siatount o[ the. Funds bill by Lander, togdher with the ftttwe matthlp utstathneaa-of Fu.:ds payable prior to tots dtss dates of taxes, ssaasrneaa, ingerance premiums and ground r'snb. shall exceed the srnount required to pay said taxes. sasesemeaa, insurance premiums and ground-rents ss they tall due. such excess shall be. 'at Borrower's option. either promptly repaid to Borrower. or credited a Borrower en tnoathly installt:iena of Funds. [f -the atrtount of the Funds held by Leadershall trot be wlBcieat to pay taxes. as~a~ata. iasurantx pcaniums and ground rena sa they fall due. Borrower ehsll pay to Larder airy amount neoeaary to crakes up the deficiency vritltia 30 days from the dote notice is mailed bI? Lender eo Borrower requesting payment thereof. Upon payment is full of all urttts eecttnd by this Mottgaae, Lender shall pranptly refund to Borrower any Fonda held by Leakr. If nailer parsgcaph 18 hereof the Property is sold ar the Property rs otherwise acquired by Lender, Lender- aball apply. rw later that imoaedil<tehr prior to the sale of the Property or its acquisition by Lender. nay Funds held by _ Lander at the time of application as a credit againd the suaa securod by. this Mortgage. ~ A!!~ at lgsaeMa. 'Unless applicable law provides otherwise, all payments raxivad by Lender- under the - Note and paragraphs I sod 2 hereof shall be applied by Lettckr first in payment of amounts payable to Lander by Borrower - under paragraph 2 haeof, then to interest payable on the Note, then to the principal of the Note. and then to interest and principal oa any Future Advartoes. 4. ~,7tasgeat ikas. Borrower shall pay all taxes, assessments and other-charges; fines and impositions attribu!abk to .the Propect which tray attain a priority over this Mortgage, and leasdte!d pa,++mena or ground rents, if any, in the msrtnar provided under or. ~ not paid in such manner, by Borrower making payment, when due. directly to the payee thereof. Borrower doll promptly furnish w Leader tin notices of .mounts due under this paragraph, and in :be evert Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrows shall promptly discltarg~e sny lien which lest priority ovtr this Mortgage; provided. that BorraMer shall not be required to discharge any such lien so long as Borrower shall agree in writing to the paytaent of the obligation secured by such lien in a manner acceptable to Lender, or she!! in good faith contest such lien by, or defend enforcement of such lien in, legal .proceedings which operate "to prevent the enforc~errtent of the lien or forfeiture of the Property or any part thereof. S. Hassel [wrartce. Borrower shalt keep the improvements now exesting or hereafter erected on the Property ittsirrad - sgarrnt loss by fire,. hazards included within the term "extended toversge". and such other hazards ss Lender may require and in such amounts and for s=.rch_ periods as Lender-may require: provided, that Lender shall not require that the amount of such coverage exceed that amount Of coverage required to. pay the sums secured shy this Mortgage. 'Ibe iawranoe carrier providing the iawrance shalt tx chosen by Borrower subject to approval -by Langer, provided, that such approval shall not be unreasonably withheld. All premiums on insurance policies. shill be paid in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making paymwt, when due, directly to the insurance carrier: - All inwrance policies sod renewals thereof shall be. in form acceptable to Lender and shall include a standard mortgage clause in favor of and in form acceptable to Leader, Lender shall have the right to hold the policies a~ renewals thereof, and Borrower shall pranptly furnish to Lender all renewal notices and all receipt: of paid premiums. In the evert of loss, Borrower shall give prompt noticx to the insurance carrier and Lender. Lender may make proof of loess if not made promptly by Borrower. .Unless Lender and Borrower otherwise egret in writing, inswance proceeds shall be applied to restoration or repair of the Property damaged, provided such reuoration or repair is economically feasible acid the security of this Mortgage is not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Mortgage would be impaired, the insurance proceeds steal! be applied to the sums secured by this Mortgage. with the e~toess. if any. paid to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender-within 30 days from the date notice is mailed by Lender to Borrower that the insurance carrier oll~rs to settle a claim for insurance benefits, Lender is authorized is collect and apply the insurance procoods -at Lender i option ether. to restoration or repair of the Property or to the scans secured by this Mortgage. . Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shall not extend- er postpone the due date of the monthly inualtments referred to in paragraphs 1 and 2 hereof or changes the amount of such installments. If under paragraph ! 8 hereof the Pro ftrty is acquired by Lender. all right, title and interest of Borrower in and to any ibwrance pd_icies sad in and to the proceeds thereof resulting from damage to Lhe Property prior :a the sale or acquisition shall pass to Lender to the extent of the sums secured by tlris Mortgage. immediately prior to such sale ~ acquidtion. ti. lteserrattioa sad Maistewtaee of Pr+eperty; Leastlydrts; Coalominiums; Plas+Kl UrW perebpee~, Borrower sbal! keep the Property in good repair and shall not comrpit yvaste or permit imnairrrrant ~or deterioration of the Property and shag comply wilt; the provisions of soy kale if this Mortgage is on a leasehold. l: rhea Mortgage is on a unit in a oorttdominiunt or a planned unit development, Borrower shalt perform all of Borrower's obligations under the dataration or ooveoanta creating or governing the condominium or planned unit development, the by-laws and regulstiorrs of the condominium ar planned unit development, and constituent do~:urnents_ If a catdaninium or planned unit development rider is executed by Borrower and recorded together with this Mortgage, the covenants and agreements of such rider shall be inwrporated-into and~sltall amend and supplement the covenants and agreements of this Mortgage as if the rider were a part hereof. - 4 f y. Pretectbn d Lender's Secsrrlty. If Borrower fails to perform the covenants and agreements contained in this Mortgage, or if any action or proceeding is commenced which materially a8ects- Lender's interest in the Property, including. but not limited lo. eminent domain, insolvency, code enforcement, or arrangemenu or proceedings involving a e banktvpt or decedent, then fender at Lender's cation, upon notice to Borrower, may make such appearancxs, disburse such .•+:ms and take such acrioA~as is necessary to protect Lendt~s interest. including, but not limited to. disbursement of rcasopabk attorney's tees and entry upon the Property to make repairs. If Lender required mortgage insurance as a - condition of making the ban secured by this Mortgage, Born~wer shall pay the premiums required to maintain such insurance in eBect anti! such time as the te+yuirement for such inwrartce terminates in accordance with Borrower s and • ~3~4 P~24~ - ~ _