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Home My WebLink About2113 ` ~ • • f i` 1 k Q BOrrowar and Leader CBM'laast sari agree Y folbws: ~ e 1. PayfNelt Ot Plirrehal a~ btatrM. 80er'Ower shall peamptly pay what des the peindpd d aa41 intsewt on the iridebldriess _ t~.~,:li.N~.I~wl~a,ors-y~~-°~~d1_!~!~~rid~~nt6aNa~a,aOdtba~~d~;At~r~t01ia1~y~tllr~vattCNNCY!'!a ~ toelwsdo ea sae Iaagtauae. Snb~ct to appliabk law err to a writtat ~raiver by I.endRS. 8orrornr shall pay to Lends on the dqr maathljr iratapmsnts atpeineipul and interest are payable under tb Note, until the Note is paid is tv~ a seen "Pbrrds'~ equal to Dees twelfth oohs yearl,? tares and aaessments which may aKain priority over this Mortgage, sad ground testa oa the Property, if any. ph?s oae- tweHth a~tysarly premium iostalbaeats far bossed ituurana. plw onstwsMh otyearbr premium installaaeats tar mortgageiasuranoe, irony. all a. reasoaabb eaimatsd initially and irasa rims to time by Lender on tb basis of assessments sad tilt and nasonabie estimates theeeoL The Pleads shop b heW in an institution ohs depodts a aooouata d which an ensued a gwranteed by a Federal or &ate agaigr (inehding Leader ii Landes is scab an ina~. Lwder shall apply tb F1mds to pay said taus. assesnrisenta. in+rutaaos pnmimis sad geouad rsrdt. Lender may not ehargs fart so bldiag sari applying tb Funds. analysing said aooounR ~ vari4?ins. sad compiling said eusese~srenta acrd bills.anlees Leodsrpays BaaoweR iateredoa the Ptiiads and sppdicablelaw permit Lender b make awh a charge, Borrowerr and Leader may ores m writing at the time of eucatioa of this Mortsago Wet interest on the P4ads shall b paid m Borrower. sad unless loch agnemsut is mach oe appliatble law rsgnires such intaeed m b paid, Calder shall ant b required to pay Boreowar any inroad err earning oa the Pbrrds. Landes shall give to Borrower. without charge. as aannal acoonnting of the Faads showing credits and debits to the Fends and tbs purpose ib which sack debit b the Fends wee made.lbe P'nnds are pledged as additional security for the sums seared by this Lithe amount of the Pbads held by Lender. together with the futon monthb? installments of Funds payable prior to the dos dates draws. assesrmeats. insurance pnminms and grotmd rents. shall stored the amount required to pay said taxes. assessments. inwraaos premiums and ground twits at tby fall due. uah excess shop be. at Borrower's option, either promptly repaid to Borrower or aedited to Borrower on - mont~ly iadapmeats d Ponds. U the amount of the Funds held by Leader shall not b ~ntl3ebt to pay texas. assessasasib. insurance pneuiwnra and t~ rent/ as they fall doe. Boesowet shall pay b Lender any amount necessary to make rep the de5daigr within 30 days !ran the date notice is mailed by Leader to Borrower requesting payment thereof - ' _ ~ Upon payment is thll doll sums secured by this Mortgage. Lender chap promptly refund to Borrower any funds held by Lender. Tf under paragraph IS hereof the Property is sold a the Froparfy is otherwise scgnired by Lender. Leader shah apjiljr,'no later than immediat+riy prior to the sale d the Property a its aoquiaitioa by Leader. aqy Funds held by Lender attlis time ofapplisation as s credit against the sums secmrod by this Yoettaga 3. Application of Payarents. Unlea applecabk law provides otherwise. all payments received by Leader ender the Note sad paragraphs 1 and 2 bend chap b applied by Lender first in payment of amowits payable to Lender by Borrower wader paragraph 2 henot, I then to intend payable oa the Note. that to the principal of the Note, and then to entered and principal on any Pulses Advances. 4. Charftea; Lieeu. Barroerer shall pay all taxes. assessments and other charges, fines and impositions attributable to the Property which ! may attain a priority over this Mortgage. and leasehold payments or ground rents. if any. in the manner provided ands paragraph 2 hereof or, + if sot paid in such manner. by Borrower malting payment. what due. directly to the payee thereof. Borrower shall promptly furnish to Leader f all notices of amounts due seder this paragraph. and in the event Borrows shag make payment directly, Borrower shall promptly furnish to Leader reoapts evidencing such payments. Borrower shall promptly discharge any lies which has priority ova this Mortgage; Provided, that Borrower shall not bregaired to disdharge any such lion so long as Borrower shall agree in writing to the payment of the obligation secured by such lien in a manner aoDeptabk to tender, or shop in good faiW contest such lies by. or defend enforcement of such Gen in, legal proceedings which operate to prevail the enforcement of the lien or_forfeiture of the Property os any part thereof. 5. Haraird Insurance. Borrower shall keep the improvements sow a:iatiag or hereafter seeded on the Property insured against lass by fire, hazards included within the term "extended coverage." and such other hazards as Larder may require and in such amowits and far rude periods as Larder may require; provided, that Lender shall not require.that the amount of such coverage ezeeed that amount of oovange required to pay the sums secured by thin Mortgage. } 'Ibe insurance carrier pmoviding the insurance shall be chosen by Borrower subject to approval by Lender; provided, that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner provided under paragraph 2 hereof or, if not paid in sash manner. by Borrower making payment, when due, directly to the insurance carrier. Ap inaurewce policies and renewals thereof shall be in form acceptable to Lender and shag inducts a standard mortgage douse in favor d and in foam aooeptable to Lender.Lender chap have the right to hold the policies and renewals thereof, and Borrower shall promptly furnish to i under all renewal notices and all receipts of paid premiums. In the event of lass, Borrower shall give prompt notice to the inaurrtnce carrier sad Lender. Leader may make proof of loss if not made promptly by Borrower. - Unless Lender and Borrower otherwise agree in writing. insurance prooeeda chap be applied to restoration or repair of the Property damaged. provided such restoration or repair is economically [easibk and the security of this Mortgage is sot thereby impaired. If ouch restoration err repair is not economically feasible or if the security of this Mortgage would be impaired, 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 Borrows fails to respond to Lender within 30 days from the date notice is mailed by Lender to Borrower that the insurance carrier offer to settle a daim for insurance benefits, Lender is authorized to collect and apply the insurance proceeds at Lendels option other to restoration or repair of the Propergr err the sums secured by this Mortgage. Unlea Larder and Borrower otherwise agree in writing, any such application of proceeds to prindpal shag not extend or postpone the due date d the monthly instapmaita referred to in paragraphs 1 and 2 hereof or change the amount of such installments. If under paragraph 18 hared the Property is acquired by Lender. all right. title and interest of Borrower in and to say insurance policies and is and to the proceeds thereof resulting from damage to Property Prior to the sale or soquisition shop pass to Lender to the extent of the soma secured by this Mortgage immediately prior to arch sale or aegniaiteon. 6. Preservation and Maintenance otProperty; Leaseholds; Condominnms; Planned Unit Developments. Borrower shall keep ~ the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions d any knee if this Mortgage is on a leasehold. If this Mortgage is on a unit in a oondominiam or a planned unit development, Borrower shall perform all of Borrower's obligations ender the declaration or covenants creatingor governing the oordomiaium or planned unit developmwt, the by-laws and regslatana of the condominium or planned unit development. and eonstitneat documents. Tf a condominium or planned unit development rider is executed by Borrower and recorded together with this Mortgage, the ooveoanta 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. Peotedion of Lender's Severity. If Borrower fails to perform the covarants and agreements contained in this Mortgage. or it any action or prooeedirrg is eomarenoed whidr materially affects Lender's interest in the Property. including, but not limited to, eminent domain, insolvency. Dodo enforcement, or arrangements or proosedings involviug a bankrupt or decedent, then Leader at I.aider's optiaaapon notke to Borrower may mdse snob appearances. disburse rude soma and take such action as es neceaary to protect Larder's internat. iadadiag, but not limited to, disbursement d reasonable attorney's fees sad entry neon the Properly to make repair. Tt lender regairrd mortgage insurances as a condition of making the loan secured by this Mortgage, Borrower shall pay the pranenms required to maintain such insnraaos in egret until such time as the regniremait for inch insurance terminates in accordance with Borrower's sad Leridee'~ written agreement or applicable Law. Borrower shall pay the amount of all mortgage insurance premiums in the manner provided under paragraph Z hereof. Any amounts drsbnreed by Lender penuarit to this paragraph 7. with interest thereon. shag become additional indebtedness d Borrower secured by thin Mortgage. Unless Borrower and Lender agree to other terms of payment. such amounts shall b payable upon notice teom Leads to Borrower requesting payment theno~ sad shall bear entered from the date of disbnnemait at the rate payable 5tim time to time on ontdanding prindpal undo the Note unless payment d interest at such rate would b ooatrsry to spplicabk law, in which event such amounts shall bear interest at the highed rate permissible undo applicable law. Nothing contained in this paragraph 7. chap - regnire Lender to incur any expense or take any action hereunder. ~ BGOK~~ ~AGE~~ (l