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Home My WebLink About2450 • ' t7ntroltrt Covprnttla. •orrower sad Leader covenant aril sgros m tolbws: TtgwwM tt! hlar~ttl attd 1tMesetf. Borrower shall promptly pay when due the priacipd of and igitrett oA the _ indtbledaeta avidatsoed by Nee Nets, pr+tps~yrtteat aril tats charges as provided en the NoM. aril tbs principal at atsd iattaat oa atsy Palate Advastxa aecwsd by this: Mortgagez. ~ 1 llrnit tlstr '11t>Dtt tread Ittwertooe. Subject eo applicable b?w err to a written waiv~ee' by Lsndtr. Borro~rsr t+ball per b Lander oa tilt day ttttaftthly iastalhnettts of principal and interest are:.payabk under the Nets. uate't the Noss a paid in toll, s tram (her'sin "3ruodt'y eeptal to oaatweitth of the yrcarl)' .tax~x and assaansna which may attain pria~ity over this 1ltortgags. sad ground troaa oa die Property. if any. qta one-tweihh of yeari~i~ premium imalMtsna for hatat~d insuranes. . plot oae-twelhh of )~eariy Ix~aaium io~allmena for mortgage ins<rra+nco. it at>)r. afl as r~easanably e:tartated initially and ft~o~aa tittle to tittle by Leader oa the basis of asstxsrrtena and hills attd~ reasottabk sstirnates thereof. . 'tlte FWrtfs shall be bald in an instittNicNt the deposits or accounts of wbkb are inatrred or guaraated by s Fedt:ral of statei agency (iachding Lsrtder if Lender is such an institution). Leetder ritall apply the Funds b pay said taxes, ssseamesia„ ioatrttooe pr~esaitttrts and ground twos. tender may ~~ot charge form holdeng aed applying the Fnrd:, ana)yting:aid,toootatt, a verifyittg:.sad extrnpiliag said a:sastttettts and bills, unless Leader pays 8onower intsraa on the Funds and applipble law psrntia~ Leader to rwke such : Borrower and lender may agree in writing at the time of execution of this. lidtoertgage that interest on the Funds s>,aq be paid to Borrower, and uetka such agreematt is made or appiicabb law requires twill lateral b be paid. Lptdsr shall trot be regttiretd to pay Borrower any irttetsst or earnings oa the Funds. Linder shag give to Borrower, without t*hatge, an annual aooounting of the Funds showing credits sad debits b the Funds and the purpose for which eweb debit to efts Funds was made. Tba Funds are pledges! as additional setcttrity for the :tans stx'ured by t>ds MartptBe. - - Tf the atttoutn of the Fettds bell ~ Lender. together with ttte hautrs ttwatldy ntstallmeaa of Funds payable prior to the dot data of tatter, assessmata, ittwrance prerttittttts and ground rents, shall exaAd the ataount required to pay said taxes, ataasareaa. iasuratooe prwaiettns aid ground rata as they fall due. such excess shall be, .at Borrower's option. either promptly repaid b Borrower or rretmted b Borrower on monthly ietstallntertts of Funds. If the atttotatt of the Farads held by Leadsr-shdl trot be sedBdeat to pay taxes, its, insurance premiutra and ground reutts as they fall dos. . Bortow~er shall pay to Larder any sin^unt neexssary to make up the deficiency within 30 days from the date rtotiee is mailed by header to Borrower requesting paymeatt thereof. Upon paytneat in tall of all sums aecurod by this Mortgage. Lender shall promptly t+efuad to Borrowcr~ any Funds bdd by Lander. If under paragraph t8 ber~eof-the Property is sold or the Property w otherwise acquit+ed by Lender. Lander shall apply, ra late than immediately prior b the: sale of the Property or is aoqui:;tion by Lender. say Funds held by Lender at the time of applkation a: a credit against the sutra secured by this Mortgage. - 3. A~Ycstiert st )Aq~tealt. Unless spplicabk law provides otherwise, all payments retceivsd by Lender under the . Nola and paragraphs I and _2 bes+eof shall be applied by Lender first in payment of amounts payable to Lender by Borrower utda paragraph 2 hereof. then b interest payable oa the Note. then to the principal of the Note. a~+d rhea to interest and , pttianapal on any Future Advaooes. ~ - 1. (,tiarge~ Liens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which tray attain.a priority over this Mortgage. and lasehoM payments or ground rants. if any. in the manner . Ftovided untder paragraph 2 herwf or. if not paid in such manner, by Borrower making payment. -when due. directly to ibe . _ payee thet+eof_ Borrower shall pre>trtptly furnish b Lender all online: of amounts due wider this paragraph std in the event Borrower shall make payment directly. Borrower shag promptly furnish to Lender roodpts evideecing such payments. Botrewer shall promptly discharge ray lien which has priority over this Mortgage: provided, that Borrower shall not be required to d»charge any suedr lien so brag as Borrower shall agree in writing to the payment of the obligation secured by such liar in a manner acexptabk to Leader, or shall in goc+d faith contest such lien by: or defend earot+centertt of such lien iq legal proceedings which operate b prevent the enforcement of the lien or forfeiture of the Property or say part thet+eof. 8. Aasard !<ttwraaee. Borrower shall keep the improvements now existing or hereafter erected oo the: Property insured againse Mss by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require std in such amounts and for such 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 wrns secured 1by this Mortgage. - The inwraetex carrier providing the insurance shag be citeue:rt by Borrower subject to approval by Lender, provided, - t~at such approval shall riot be-unreasonably withheld. All prcmiutas on insurance policies shill be paid in the manner provided under puagraph 2 6eroof or. if rnot-paid in such manner,_by Borrowa~ making paytaeat, what data. directly to the insurance carrier. At! insurance policies and reaewak thereof shall be in form acceptable to Lender and shall include a standard mortgage clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, - aed Borrower shall promptly furnish to Lender al!-renewal notices and all rrooeipa of paid pmniums. In the event of loss. borrower shall give prompt notice to the irtsurarece prrier and Lender. Lertdtr may make proof of loss 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 economically feasible aril tiro security of this Mortgage is not thereby impaired. If such restoration or repair is not economically feasible or if rite security of this Mortgage would be impaired, the insurarnee procads shall be applied to the sums sxured by this Mortgage, with the exexs. if any; paid to Borrower. U the Property is abandoned by Borrower,.or if Borrower fails to respond to Lender within 30 days.frem the date notice is mailed by Lender to Borrower that the irtwrance carrier ofteas to settle- a_claim- for insurance benteSts, Lrnder - is ant:horizod to collect and apply the insurance proceeds at Lender's option either to ratoration or repair of the Property or to the: stuns secured by this Mortgage. _ t Unless Lender and BoStOWYr otherwise agree in writing, any such application of proceeds to principal shall rant extend or postpone the: due date of the monthly installments referred eo in paragraphs i and 2 hereof or charge the amount of such instattrrteots. If under puagrap6 lg }r,-roof the Property is acduired by Leader, all right,-tick and interest of Borrower in and to any tbstrrance policies and in aril to the proceeds thereof resulting from damage to the Property prior b tM: sale , or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such -sale or t acquisitaa. - d. trraenatloa sad Maiotertattoe of Property; [.easehotd~ Coadoatiaieraes; Plantxd Unit ~IDev :bail keep the Property is good repair and shall not comapit yvaste or permit im ~ Borrower pairment or deterioration of the Property and shall corttply with the provisions of any lease if thK Mortgage is on a leasehold. if this Mortgage is on a unit in a condominium or a.plutrned.unit development, Borrower shall perform aft of Borrower's-obligations under the efecluation i or covenants creating or governing the condominium or planned- unit de:vebpment, the by-laws and regulations of the ~ coadominietm or planned unit development, and constituent riocutnents. If a condominium or planned unit devebprnent rides is executed by $otrower.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 rider were a part hereof. - - 7, Prolactioa d Leader's Secttr[tr: If Borrower fails to perform the ewvenants and agreements contained in this Mortgage, or if any action or proceeding is commenced which materially -affects Lenders interest in the Property, _ ~ including, but not limited to. eminent domain. insolvency, code: enforcement, or arrangements or proceedings involving a ~ bankrupt or decedent, then Lender at Lender's option, upon ratite to Borrower. may make such appearances, disburse such ~ sums and take such action as is necessary to protect Lenders interest. including. but not limited to, disbursement of reasonable attorney's fees aril entry upon the Properly to make repairs. If Lender required mortgage insurance as a conditi;;n of making the loan secured by this Mortgage, Borrower shall psi the premiums required to maintain such _ imurance.in effect'untit such time as the requirement for such insurance terminates in accordance with Bort+rnvers and X324 p~244C~'~ j`'`'`' ~ -