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Home My WebLink About0667UNtFOIt~t Co~•F~.~KTS. Borrow•er and LcnJcr ro~enant a~d agree as fall~ws: 1. Ty'111tA1 Of P~QCIwI ipd IAItfK~. Borrower sh•rll promptly pay whcn duc !hc principal of and intcrest on thc ~ndebtedness eviJern:~J hy ~he Note, prepaymcnt anJ late charge. a. provi.led in the Nate, and the principal of and interest on any Future Adva~cec secured b~~ thic Morlgage. 2. Fuuds fo~ T:xp and lasunace. Subject to applirablc law ar ta a written waiver by I.ender, Bortower shall pay to I.enckr on ~he day mo~~hly inctallmentc of principal and intc~~~t arr payahle under the Note, until the Note is paid in full, a sum ~herein "Fun~ls"- cqual to une-tw~elfth o( ~he yearly ta~e~ and accessmcnte which may attain priority aver this Mortgage, anJ ground rents on the Property, if any, plus onc-twelf~h uf ycarl~• ~premium inslallments [or hazard insurance, plus one-twelfth of ~~earl~• premium installments to~ mortgage insurancr, i( any, all as roasonably estimated initially and from time to timc h~• 1_cnder on thc hasi~ of a+ses~m~nts anJ bills and reax~nable estimatcs thcrcof. The Funds shall t+e held in an in~titution the Jep.~it~ or acrnunta of which are insured or guarantetrl h~• a Federal or state agenc~• lincluding l.e~xler if Lender is such an instilutionl. Lender shall apply the Funds to pa)~ ~aid laxes, assessments, insurance premiums anel ground rrnts. 1_ender ma~• n~~t charge for w hoWing and applying Ihe FunJs, anal~•~ing said account, or ~•erif~~ing and compiling said a~se„mcnts and bills, unlcss I_cnJer pa~•s Borrov-~cr interest on Ihe Funds and applicable law pcrmits Lernle~ to make such a charge. &~rruw•er and I.e~dcr ma~• agree in writing at ~he lime o( rxecution o[ this ~tortgage that interest un the FunJs shall~ he ~id tu Borrower, and unlc~s such agreement is maJe or appli~able law reyuires such interest to be paid, I.enJcr ~hall not tx ffl~UlfCII Ii1 (f;1\' RUffOK'Cf am• intrrest or earninkh on the Funds. l.ender ~hall give to Burrowe~, Hithout char~e, an annual accuunting of thr I~unJs showing creJits and debits to the Funds and the purpcue for which eaeh debit t.~ the FunJs wa~ maJe_ The I'unds arc pl~tiig~~l a~ additional s~~;urity for the sums s~.ured b~• thi~ ~tou~agc. _ If the amuunt of the Funds hcld b~• l.endcr, t~~gcthcr with th~ futurc monthh• imtallmcnts of Funds payable prior to thr due dates of taxes, ~sx-ssments. insuran~e prrmiunis anJ gn~und renh, shall e~rccYl thc amount rryuired tu pay ~aiJ taxes, assesunents, insurance prcmiums and ground rent~ a~ th~~• fall Jue, surh e~retis thall be, at BorroH•er's option, either prompth• repaid to Borrower or cn~ditcd w BorraH~er on monthly in~tallmcnt, of Fund~. 1( thc amoum of thc ~unds held by Lender ~hall not be sutticient to pay taxec, accc~~mrnts. imurancc prcmiumc and ground rents as they fall due, Borrower shall pa~• to 1_ender an~• amuunt nctic,~r}~ t~~ make up ~hr ~Irlicirnr}~ within i0 da~~~ fmm the date nc~tice is maileJ by Lender to Borrawcr rryucsting pa~•mcnt therrol_ Upon payment in full uf all sums scrureJ b~• thi. ~fongag~. Lcndcr shall prompth• reiund ro Borrower any Funds held by LcnJer. If under paragraph 1~ her~wf thc Propcn~ ~~ .~~IJ ur thr Propcrt~• is othcrti~i.c aryuircd by I.ender, LcnJer shall appl}'. no latcr than immediatrl~ prior to the ,ale uf thr ProExny or its acyuisition hy Lende~, any funJs helJ by Len~r at thc time .~f appliraticu~ ;~s a crcJit against thc sum. ticcured h~ th~~ ~fortgagr. 3. Application of Pa~meats. Unlc,s applicablc IaH~ pro~~iJcs otherwik. a11 paymcnts reccivcd by I.cndcr under the \otc and paragr.~ph. 1•rnd 2 hcrcof shall bc applicd b~~ I.rndcr fint in pa~~mcnt of amuunts paYablc to l.cndcr by Bnrrower undcr paragraph ? hcreof. ~hcn tu ~nt~rc~t papablc c-n thc \otc. thrn la Ihc principal of thc Notc. and thcn t~~ interest :~nd prmc~pa) on ~nc Future Ad~anc~.'s. ~t. fha~es: Liet~s. Borrowcr .hall p:~~• all ta~~., ;~~u»mrnts and ~~thcr charg~c. finc~ aml ~m~nitiuns aUributable to the Propem~ whirh may attain a priurity over ~his ~fortgage, and Iraxhald payments ~~r ground rentc, if an}•. in thc manner proviJed unJcr paragrrph 2 hercof or, ~f not paid in wrh manncr. b~• Borruw~er making pa~•ment. ~+~hen duc. Jircctly to the pa}~ee thereof. Borrower shall promptly furni,h to Lender all notices of amountti duc under this paragraph. and in the event Borrower shall mal~ pa~~ment direcU~, Burru~~rr ,hatl pramptl~~ lurnitih ta Ixndrr reccipt~ r~iJ~nrmg sueh pa~•ments. Borrower shall promptl~• Jis~:hargc an}• licn ~~hi~h has priont}• uvcr thi~ ~1orlg~gr: pn~vi~IcJ. th:+t t3~urc~wc~ ~hall not bc requ~red to d~s~harge an~• wrh li~n ,~. long as Born.~«r tihall :igr~c in wriUng to Ihc pa~mcnt ut thr i~bligati~~n secureJ h~• wch lien ~n •r manner acc~ptablc tu Lcnder, ur ~hall in g~xxl laith cuntry wch lirn M•. i~r ~fefe~il enfurccment of such lien in, legal pta~reding. uhich ~~p~:~atc to pre~~cnt the cnf~~rccmcnt vf ~hr I~cn ur (orfcitu~r u( the Propcrt~~ or any part thcrcof. S. Hanrd Insurance. Borroa~er shall kecp thc impm~cmcm. nu.. c~i.ting ~~n c~rr:~ftrr rrrrtcd i~n thc Pr~~Fxrty imurcd ~gainst I~xs hv fira:. h~zard~ in:luJcd Nithin thc tcrm "r~tinJc.l cu~•rragr". anJ ~urh ~~thcr hazard~ ac Lcndrr ma~~ rcyuirc .,n.l ,n ~u~h .,m.n~nts and for such ~xriod~ ati I.cndcr ma~ reyuirc: pruvidrd. ~hst Lrn.l~r .hall not reyuirr thal thc am~-unt af .u:h ro~~ra¢r ~~~e~Y) tf~at amuunt i.f ro~~erage reyuir~d to r:~~ Ihc .am~ .r~~~~ed h~• th~~ ~torlgag~. 'ilte m~oran~e carrier providing thc insuran.r shall tx: cho.cn bp Borru~«r wbjcrt ti• appmcal h~ Len~ler, pro~•ided, that xi.n appro~al ~hall not tx; tmria,unahh• w•ithhrlJ. :VI prcmnim~ un insur.~ncc polic~c~ ~hall hr paid in thc manner pro~•ideJ undcr per~graph _' h~reof ur_ iC nut p~id in ,uch manrmr. b} B~~rro~~er making payment, when due, d~rectly to the ~nsurance carrier_ Al) insurancc Fx~Lr~e, and renr.~al~ thcre~~t tihall Fx in (omi :~ccrplablr to Lcn~lrr and chall ~n~ludr a~tanJard mortgagc ~I~use in fa~~nr ~.f ~nd in form a~ce~tahle a. Lender. I.rndcr .h.~ll have thr right t~~ hold the p~di:ics and rencwal~ thcrei~f. .+nd Borruwer .hall promptlt- furnish to Lendrr all renrwal not~cYC ~nd all rcceipts of paid premium,. In the e.•ent of lot~. Borrox~er ~hall ~icr prompt nuurc tu the imucance carner and I.ender. I.rnJrr ma~ rnake prcx•t"ot loss if nol m:sde prumptl~~ b~ Borr.~v-•er. . l:nless !_enJcr anJ Borrowcr rnhrn+i,c :+grrr in Hnhng, inwr~nce pnkerdt shall be applied to re~tur:dion ur repair of thc Propert} ~lamae~d. prav~~~J ~u~h rc,turatiun ~~r rcpair ~c ~r~~n~~mi~aUy~ fcasibl~ and thc sccurity of this Mortgagc ~s n~t thereb~ impa~red. If w~h rc,turaU~~n or repa~r ~s nrt rc~~n.~mi.~lh featiihle ur if the securit~• of thit Mortgagc H•~~uld be :mpa~red. the insurance pruceeJs tihall lx: :~pplicJ a+ the ~umti xrurc~l b~• Ihic Mortgage. H ith the excecs, if any, paid to Borruw•rr. It the Prupert} iti ;~b:~nd~~nrd hs Korr~~wcr. i~r it Born~wcr faih t~~ res~nd to I.endcr within 30 days from the Jatc notice ~. mailc~i h~• Lender to Borr.~w~rr that the insuranrr rarrier at~en to ~ettle a cl:,im for insurancc henefits, Lender ~. authonzed t~= collect and appi}~ the in~uranre proceedi at l_~ndrrs uption either to restoration or repair of the Propert}' rr to the sum, +r~urc~l hp this ~lortgag~. l;nlex Lrnder and Burruw~r ~.thervtii.r agrec m wnting. am such appliratiun ~.f pr~wreds to pnncipa) ~h~ll not extcnd ~~r p.Ktpune the duc date uf thr m~~mhh imtallmcnts rrferred t~~ in paragraph~ 1 cuui 2 herc~~f or ~hange Ihc amount of Such imtallrrnnt~. It under paragraph tt~ hereof the Prupert~ i~ acyuired hc Lendrr, :iii nght, titte and interest of Bormwer ~~ and to am ~muren:e poiicies and in anJ to thr pr~xceds thcrcot r~~ulling t~um damage to thc Proper~}~ prio~ lo thc saie ur :~~yuuiUOn ~h:~ll pa~s to Lender to thc c~tent of the sum~ secured M ~hu ~lurtgagc immeJi'rtely prior to ~uch sale or acquiciti~n_ • 6. Preser.a~ion and ~laiatenance of Propert}: I.eaceholds, Condominium~; Planned l,'nit De~•elopmeMs. Borrowcr ~hal~ kecp th~ Propcrt~• in gcxxl repair and shall not rommit Kastc rr pcrm~t impairmcnt or Jeteri~ration of the ProFx:rty and ~halt compl- «ith thc pro~~iswns uf an}~ lease ef th~s ~tartgage ~~ on a Icaxh~~ld. I( thi~ tilortgage is on a unit in a :on.lominn~m .~r a plannrd unit de~clupmrm. Borrowcr tihall Fxrform ~U uf Barruwcr's ubligations undcr thc dcclaration ur co~-enant~ errat~ng ur g~~vern~ng the conduminium or planned un~t Jevelopment, the bp-faws and regulationc of the :~m.1.~min~um or plann~:d unit Je~elupment. :,nd constitue~t documents. If a condominium or planned unit Jecelopment nder ~, r~e:u~cd b~ B~rrov-cr anJ recordeJ ti~gether with Ih~~ M~•rt~tage, the co~~enants and agreements ~~f wch nder ~h:,li be in~or~x~rateJ ~nto ~n~l shall emcnd an~ •upplemcnt the rn~cnams and agrccments of this Mortgagc as if thc riJer ~•rre a part hcreof_ ~. Proteclion of t.enders Security. If B~•rrower fad~ t~ ~rf~~rm the rovcnams amf agreements c~~ntained in thi~ ~1.~ngegr. .~r i! an}' acUvn .~r pro:ceJmu ~~ ~~~mmrncc~l w hich matcriallc atT«ts I.cnJcr'a inierest in thc Pro~x rty, milud~ng. hu~ n.~t I~mited tu. cm~ncnt domain. un..hrnc~, codc rnt~~r~cmcnt, or arr.~ngemcnls or procccdinKS involving a bankrupt ur Jr:~dent. then I_enJer at LenJer', opt~on. upon noticr to Borrowcr, ma~ m:ike ~uch appearance.. dishursr iurh wms .,nd take such r.ti.m ~s u nccc~.an t~~ pr~~tcct I.cnder'~ ~mrrest. mcluJing. but nc~t IimrtcJ to, d~sburscmcnt u( ffdSOO1hIC attornc)'ti tcrs and cntry uFx~n thc Propcrt}~ to malc rc~airs. It I.cndcr reyuircd morlgagc in~ur~nce a~ a .un~i~u.~n .-t mak~ng tht loan ticcure~i b~ thi~ ~turtE.~gr. K~~rro~cr shall pa~~ thc prcmiunn rcquired t~~ maintain such ~nw~rnce in rNe.t until tiurh timr ati th~ rryuirement for ,uch ~nsurance terminates ~n accordance Mith Bormwer's and 3~nK,.~~t / Ptir,E U~4 i ~ ~a.._~ ~ - ~.~,~-:.~,-~~~~ _°~ ~ ~ :~... r . : "~ .