The URL can be used to link to this page

Home My WebLink About2462 r 1 - . -tom ` :f, i .,r)s i~ UntrwstM Cbvtnet+ts. Borcoera dad Letder oovenrtnt as?d agroe ss follows: 1[ttpaseat N hiar}d.tr itleseet. eorrower shall l+~aly wy when due the prittcip.t of rota iaterpt on rtes iadebledttees sriidertoed by the Nave. prepayment aril late charges sa provided its the Nutt, and tbs principal of and interest - ort any Ftrturs Advances secw~ed by ebie Mortgags.- 1 ~iteis Ibr 7imee tttstl Irteteatree. Stitbjoct to applicable law or to a written waiver. br mender. Borcowa shag pay ~ Leader as tM day monthly itatallaeettt of ptittcipal and interest zee.payable tutder the Note. ut?til the Note es paid in fall. a satin theroitz "Ftrude'~ egwl to one-tMrdtth of the yearly taxes and assessmatts which a,ay attain priority over this Mortgage. tad grotrt4d e+eaoe oa the Property. if day, pitni one-)weihh of yttsrty~ ptanitun iastalM>crtts-for hsurd insuuaace, pltn oaatwditb of yearly preasiwa installment for nortgage insurartoo, if day. all ss reasonably et<imaled initially and Rena time to titres by Ltmder on the basis of assasartents asd hills and reasonable estimates thereof. The shop be held in an institution the deposits or account of which art it>stmd or guaranteed by a FederaE of _ sta0e agency (including Leader if Lender a such an irtstittstiort). Leader shall apply the Fwtds so pay said taxes. assts;+tmaus. r itaucaoct aM gtouad rents. Lender may rail charge for:<? holding sad applying the Rands, astalyzing said account. a varifyiag.sad compiling said rissessnssat and bills. unku Lender pays Borra~rer intere~ on the Fttttds sail applicable law - i permits Ltrader to make such a charge. Borrower dad Linder may sgra iii t«?riting at the tune of execution of this Mortgage that interest on the Ftttds shat! be paid to Borrower. and unless such ag~roattatt is made a applicable law requirat stttdt interest to be paid. I.ertda shall not be required to pay Borrower any interest or aroings on the Frauds. Lender span give tD Borroaror, witl!out tom, an :attires! accounting of the Funds showing credits and debits to the Furtds dad the ~ purpoaeMfor which ettob debu to the Ftsrrd: was rnada The Fossils are pledged as additional sttetuity for the -sums secured ii )g the rtmotmt of thti Ftutd: held by Lender, together with the future monthly instalht~ent of Ftirtds ptiyabk prior. to f the due date of cartes, astoasnteat, insurance premiums and ground rent. shall exceed the amount required to pay said taxes. aaaaroeat. insurance prerrtiudis and ground rats as they tall due. such excess shall be. at Borrower's option. either praaeptly repaid to Borrower a credited to Borrower oa ?ttoathty installments of Farads. If the tugottrtt o[ the Ftttds heW by LtmrMrshall not be sttiBcie~ to pay taxes, twessntatcs. insurance- premiwm and gtasnd rents as they fall dot,- _ Bwro~rer shall pay to Larder any amount necessary to make up the detkkxy within 30 days from the date rsotiot is mailed by LeMar to Borrower requesting payment thenoof. - . lJpat payment is full of all ittpts secured by this Mortgage, !.ender shall promptly refund to Bornower any Fundti { held by Lender. If under paragraph 18 hereof the Property is soW or the Property r: otherwise acquired by Lender. Lender stall app.~?. ao_ later than immediatdy prior to the sale of the Property or its acquisition by Ltatdei, any Fonds held by . Lender au the time of application m a-crtdit sgaimt the stints secured by this Mortgage- _ 3. Apliieatita at lrgaseale. Unless applicable law provides otherwise, all payments received by Lentkr tinder the Mott and paragraphs 1 dad 2 hereof :hall be applied by Fender firu_ in payment of amounts payable to Lender by Borrower trader paragraph 2 hereof. then to interest payable oa the Nde. then to the principal of the Note. and then to interest and priacipd on any Future Advances. - 4. Ctiarge~ Leas. Borrower shall pay all !axes, assessments and other charges, fines and impositions attributable to the Property which tray attain a priority over this Mortgage. and leasehold payments or ground rents, if any, is the maaxr provided under paragraph, 2 her+cof or, if -not paid in such manner. by Borrower snaking payment. when due. directly to the payee thereeof. Bottorrer shall promptly furnish to Lender all nation of amounts due under this paragraph, and is the event Borrgwtr strap snake payment directly. Borrower shall promptly furnish to Lender receipts -evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Mortgage; provided, that Borrower- shad riot be s+egttir~ed to discharge any such lien so brag as Borrower-shall agree in writing to the payment of the obligation scctsred by such ilea in a »tattner atscepiable to Lender, o: shall in good faint contras such lien by, of defend enforeentent of such lien in. legal proceedings which operate to prevent the enforcement of the Bert or forfeiture of the Property or any part thereof. i 8: Hssar+tt Irasraace. Borrowu shall keep the improvements taw existing or hereafter erected oa the Property inwred against bas by fire, hazards irscluded within the term "extended coverage", and such other hazards as Lender may require - - aod in such attaunts 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 sums secured tidy this Mortgage. - Tbe insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided, _ that -such approval shall scot be unseasonably withheld. All premiums on inuurance policies shill be paid in the manner ' . provided under puagraph 2 hereof or, if riot paid in such manner. by Borrower making paymast, when due, directly. to the insttraace carrier. - - AU inwrance policies and ressewats thereof shall be in form acceceptablee-to Lender and-shall include a standard mortgage clause in favor of and in form acceptable to Lender. Lender shat! have the right- to hold the policies and re»ewals thereof. dad Borrower shall promptly furssish to Lender all renewal ssotires and all receipt of paid premiums. in the event of loss. Borrower shall give prompt notice to the insurance carrierand Lender. Lender may make proof of bas :f not made promptly - by Borrower. - . .Unless Lender and Borrower otherwise agree in writing, insurance 4roceeds shall-be applied to restoration or repair of the Property damaged, provided such ratoration or repair is economically feasible s:ttd the security of this Mortgage is not thereby itnpaistid. If such restoration or repair is not economically feasible or if the aocurity of this Mortgage would l be unpaired, the insurance proeoeds steal! be applied to the stuns secured by this Mortgage, with the eattxss, if any, paid j to Borrower. if the Property a abardoned by Borrower, or if Bons~?.aK fails to respond to Gender within 30 days from the t date notice is mailt:d by Lendu io Borrower that the istwrance carrier offers to settle a claim for iawrassce benefits, Lender ~ _ is authorized to collect and apply the inuurance proceeds at Lender's option either to restoration or repair of the Property or to the sums secured by this Mortgages. - - Unless Lender and Borrower otherwise agrce in writing, any such application of prot-eeds to principal shall not extend - or postpone the due date of the month{y installments referred to in paragraphs 1 and Z hereof or change the amount of such issstalln-.eats. If under paragraph t8 hereof the Property is acquired by !.ender, all right, title assd interest of Borrower - t in dad to any tbsuraace polira and in and to the procceds thereof resulting from damage to the Property prior to the sale or acquisition stall pass to Lender to the extent o: the sums secured by this Mortgage immediately prior to such sale or- ~ acquisition-- i f. heaer•atioa dad Maintenance of Property; feasehuldsti Condomistittats; Planned Unit DeveloPaseats. BormwYr i shall keep the Property is good repair and she!! scot cornrpit Waste or permit impairment or deterioration of the Property sad ball tamely with the provisions of any leads if this Mortgage is on a leasehold. If this Mortgage is on a unit in a - ' tax soninium or a phoned unit development. Borrower shall perform all of Borrower's obligations under the declaratan or covewiats creating or governing the condominium or .phoned unit d_evelopnsent. the- by-laws and regulazwns of the 1 -condominium or planned unit development. and constituent documents. If a condominiuirt or,planned unit development rider is executed 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 i[ the rider woe a part hereof. 7, Prolectioa of Leader's 5ecaritr. If Borrower fails to perform the covenants 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 bank:uq or decedent, then Lender at Lender's option, upon notice to Borrower, may make such appearsintxs, disburR.,e such stuns and take such action as is necessary to proterl Lestder s interest, including. bw not limited to, disbursement of ~ reasonable auomey's fees and entry upon the Property to make repairs. _lf Lender required mortgags insurance as a - condition of making the ban secures! by this Mortgage. Borrower shall pay the premiums required to maintain such insurance in etkct until such time as the requirement for such insurance terminates in accordance with Borrower's and - t~, ~ r - BO Ke~.~ P~~~~