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Home My WebLink About1650 - _ _ --a fff r . l ~ V i e i UNlIO~M G~ovatvastfs. 1fOrr0~MSr std l+erlder ooveaaM and apse sa b01i0wf: 1b >ti/tM¦t of~ Mil tt~d 1¦Msasl. SOtto~wst shall promptly pay what rites tM ptiecipd of aed ioMiwt oe Wes elFfdeegd ~ the Nome prepa~raseet spd Iats sharps: as pro~rided in ills Nola. sad the psiacipM d led inaerest ~ aey PbtiN~e Aat?aepea eecttlwl. by this iNOftg~e, 1 Bemis Est lheaa ttarl ~R 3trbjea b applicable law or to a wtittat erairer by Lwttlsr, porro~wrer :bap pq b LMdb oa the day trtorttlt>yr~irtstall~ of principal sari interest are-payable undsr the Note. tmW the NoN b paid iA step. a saw fateruia "Ftteds'~ egtal b oeatwaifth of the yatiy taus and aaeameats which may attain priority owe thin Ma~a/e, aed grtlttrtd tesrMa art rise PtepKty~"it attar. plus oee•twdith of yeari~ preteium isstapmaab tot hasrd irtsttraeos. phta er~cerelfth d yearly pset: h~ for iristirattce, if cep ss rwteo~sably estimated is>Itie>ty aAd tntNa time b liras by Irseder a the basis of assessment: sari hills and reasonable atinrates thereof. '!1e Feeds :bap be held !A ae institution the deposia or acoouatt of which an hrw+ed or -g+taraateed by a Fedstal otr tgsN agency (iuchdiag IBndsr llzLeader is writ an itWitutiote). I..eetder:ball apply the Funds b pay said taxes. assastrtalb. irtauaeoe psaarinnts and sI twos. t~erde? may not thane for so holding and applyin: the >Ri~t, smlyzlag said aooottM, a wtityiegaed wutpiliog said anessmatts and bills. unka Lender pays Borrower intsrat oe the Fonds and applictable law petrnsits Feeder b. males such a tdtans Borrower and Fender may apes ie writing at the time of exetwiort of this MottWe tbst interest oa the.Ftattds aitap be paid to Bort+ower,~ srd odes stsch ap+earteru is trade a applicable law regtdtrrt sack iaueest b be paid. Lender shall not be required to pay Borrower any imetest or earairiµ on ,the Funds. Leader chap gigs b Borrower, without cltans. an annual aooouating of the Ftrrds showias credits and dt~its b the Futds and the puepoee for which each debit to the Foods was malts. Tbs' Fuels aro pledged as additional setarrity [or the sum: soctrred by this xortgajt. ii the autotrnt o[ tbti Funds held by Lender. together with the future monthly ittsWkieaa of Funds payable prior in the dos dates at tswes, adaeesraeau. isarntr,oe premiwris and pound carts. shall exceed the amount cequit+ed to pay said taxes, asaessmeak, ptauaoos pry and gourd rents as they hll due. wch excess shall be, at Borrower's option. sillier promptly repaid b 9oreowter a credited b Borrotrer oe monthly iastalbadits of Funds. Ii the amount o[ the Foods httN by iaedsraball sot be strlbCiaet .to pay taxes, asessments. insurance premiums and pound rents ss they iall due. Bonast~eraMp pay b Lender say amount necessary to make up the deficiency within 30 days from the date notice is mailed by heder to'orrower regtsestiag p.yaient thereot. Upon paymsrtt ie tap of all suns sectrted by this Mortgage, Lender :ball promptly refund to Borrower any Funds Reid b7 Leader U alder parapaph 18 harlot the Property is sob or the lsrroperty w otherwise acquired by Lender. leader chap apply. ao later than imosediatdy prior to die sale of the Property or its acquisition by Leader. any Funds held bti Lender ~ the titrie of application m a credit agsimt the sums secured by this Mortgage. 3. ApMicatiae d lhgr~estis. Unless applicable law provides otherwise, cep payments received by Lender under the Noss sad wruranhs 1 and 2 hereof :hall be applied by Lender first in payment of amount: payable to Lender try Borrower under parapapA 2 beteof, then b interest payable on the Note. then to the principal of the Note. and then to interest and prieciprtl on any Futtme Advances. 4. Charger, iUees. Borrower shall pay a!1 taxes. assessments and other charges, fines and impositions attributable to the Propaty which may attani a priority over this Mortgage, and leasehold payments or pound rents, if any, in the manner provided under paragraph 2 hereof or. if not paid in such manner. by Borrower making payment, whoa due. directly to the payee thtxeof. Borrower sbaU promptly furnish.to Lender aU notices of amounts due under this panBtaph, and in the event Borrower sbsp make .payment directly. Borrower sha0 promptly furnish toLender reotipts evidencing such payments. Barrows shag -promptly discharge any lien which ha: priority over this Mortgage; providod. thst Borrower :hap rat be required to discharge any such lien so bng as Borrower shall agree in writing to the payment of the obligation secured by such lien io a manner stxeptabk to Lender, or shall in good faith contest such lien by. or defend eafortxniait of such liar in, kcal proceedings which operate to prevent the enfortxment of the lien or forfeiture of the Property or any -part thereof. S. uasari Iawraaea Borrower shall keep the improvements now existing or hereafter erected on the Property inwred against loss by fine. hazards included witltin the term "extended coverage", and such other hazards as Lender may require and in such amounts sad for such periods u Lender may require; provided, that Lender :ball not require that the amount of such coverage exceed that amount of coverage required to pay the sums secured 1by this Mortgage. 'the insurance carrier providing the inwrarice shall be chosen by Borrower subject to approval by Lender. provided. that such approval shall not be unreasonably withheld. All premiums on insurance policies shill be paid in the manner 'i provided under paragraph 2 hereof or, if not paid in such awnner. by Borrower makin8 payment, when due. dirxtly to the insurance carrier. All inwrance policies and renewals thereof shall be in form aceeptabk to Lender and shall include a standard mortgage clause in favor of and in form scceptabk to Lender. Lender shall have the right to hold the policies and renewals thereof. and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. in the event of loss. Borrower shall give prompt notice to the insurance carrier and Lender. Lender may matte proof of loss if not made promptly by Borrower. ' Unless Lender and Borrower otherwise agree in writing. inwrana proceeds shall be applied to restoration or repair of the Property damaged, provided such restoration 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 unpaired. the insurance proceeds shall be applied to the sums secured by this. Mortgage, with the excess, 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 inwrance carrier offers to settle a claim for inwtaooe benefits, Lender is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property or to the sums secured by this Mortgage. Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due date of the monthly ifluallments referred to in paragraphs 1 and 2 hereof or change the amount of such instalments. I[ under paragraph 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower in and to any insurance pdicies and in and to the proceeds thereof rewlting from damage to the Property prior to the sale or soquiution shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or f. Pr+aecratioa aai Mdsiteosace of Property; Leaseholds; Coadominieass; Maaaed Unit Dev :ball keep the Property in good repair sad shall not comrpit yvaste or emit im Borrower pe pairment or deterioration of the Property and :ball comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a condominium of a planned unit development. Borrower shall perform all of Borrower's obligations under the declaration -.or covenant= treatigg or governing the condominium or planned unit development, the by-laws and regulations of the condominium or planood unit development, and constituent documents. Jf a condominium or planned unit development rider is executed by Borrower and recorded together with this Mortgage. the covenants and agreements of wch 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. r 7. Prolectiotr of Leeier's Secretly. If Borrower fails to perform the covenants and agreements contained in this I Mortgage, or if any action or proceeding is commenced which materially affects Lender's 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 notice to Borrower, may make such appearantxs, disburse such wms and take such action as is necessary to protect Lenders interest. including. but not limited to. disbursement of reasonable attorney's fees and entry upon the Properly to make repairs. If Lender required mortgage insurance as a condition of making the loan secural by this Mortgage, Borrower shall pay the premiums requirai to maintain wch inwrance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and - ~ - -,t . X325 r~cE1644