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Home My WebLink About2547.j.~ ,'J ~~~ ' ~ ~~L~ L I - , :~~:.., - ~. t;PVtFORM CUVEivANTS ~3orrower and Gencier covenant anci a~ree as foiiows. 1. Paym~nt of P~Incipal and Int~nst. 6orrower shall promptly pay when due the pr~nc~pai o1 and ~nteresl on tne ~n~ 1~~i ~tedness ev~denced by the Note, prepaymenl and late charges as provided ~n the Note, anci Ihe p-~nc~pal ot anc! ~nterest ~z~, anY Future Advances secured by th~s Mortgage. 2. Funds torTaxes and I~surane~. Sub~ect to appl~ca0te t3w or lo a wr~llen wa~ver by Lender Borrower shall ~~ay r;; tender on the day monthly ~nstaUments ot pnncipal ancf ~nteresl are payable unde~ the Note. unt~l the Nute -s paitl ~n full. a sum ~here~n °Funds') equal to on~twelfih ~t the yearly ta~ces and assessmenls which mey altain pnonty over t~~s '.~~-tgage and grour.d rents on ihe Property, d any, plus on~twelith ot yearly premium mstaliments for haza-d ~nsurance ;>~us ~ne twelfth ot yearly prem~um ~nstallmenis lor mortgage ~nsuranCe. il any, at1 as reasaonablyeshmated ~niUally and from ~,m~ ro t~me Gy Lender on Ihe bas~s ot assessmeMs and biUS a~d reasonabte esGmates 11~ereot 7he Funds shatl be held m an ~nst~tut~on the depos~ts or accounis ot wh~ch are ~nsured or guaranteed by a Feher~t or ,t,~t~• agency;~nciu~f~r~y Lencier ~I Lender ~s such an mst~lut~on~ Lender shali apply tne Func~s to pay sa~a taxes assessments ~n;urance p-emwms and ground rents Lender may ^OI Charge tor So hoidiny and applying the Funds, analyzing sa~d acrount. c~s ,,~~~,ty~ng and compil~ng said assessments and tills. unless Lender pays Borrower mterest on the FunCs and apphcab!e !aw i~f~rm~ts ~encie~ to make such a charge Borrower and Lender may agree ~n wnling at the t~me o~ execution o) th~s Mortgage that ~nleres~ on the Funds shafl be pa~d to Bo-rowPr. and unless such agreement ~s made or appl~cabie iaw req~nres such ~nteresr to be pa~d. Le-tder shatl not be requi~eb to pay Bdcrowerahy intA~est or eam~Ags on the Funds Lender sr,~li g~ve to Borrower. w~thout charge. an annual account~ng ot the Funds~show~ng cred~ts and deb~ts to the Funds and the purpose for wh~ch each deb~f to ihe F unds was made The Funds are pleclc~~'c~~8~8tl~QAna1 s~cu(+ty~~or~ sums secured by this Mc;rtgdge ~ ~~F If the amount of the Funds he~d by Lende-. together w~tn the futuro monthly ~nstallmentS ot Fund~ payable pnor to 1he ciue dates of taxes assessments. msurance prem~ums and ground ren[s shall exceeci the amount rgqu~red {o pays2yc~ Jaxes assessments. ~~surance premiums and ground rents as mey fan due such excess shan be a! Borrower's o~t~o~i. e~ther promptiy repa~d to Bo~rower or cred~ted to Borrower on mcnthly ~nstallments of Funds If the amount ol the=PU1-tls held by Lender shall,not be sutliG+ent to pay taxes, as~essments. ~nsurance prem~ums and grouncl rents as they falt due. 8or.rower shall pay to Lender any amount necessary to make up the def~ciency w~th~n 30 days from the date not~ce ~s ma~led by tencle~ to Borrowe~ requesting paymer~t thereof. Upon payment ~n full ot all sums secured by th~s Mortgage. ~ender sha~~ promptly retuncf to Borrower any funds he~d hy Lender It under paragraph 18 hereot the Property ~s sotd or the Prope-ty ~s utnerw~se acawred by lende-. Lende- sna11 app~y. no later than immediately pnor to the sale ~f the Property or +is acqu~s~tson by Lender. any F~nds heid by Lencie- at the t~me of appl~cat~on as a crecl~l aga~nst the sums secured by th~s Mortgage 3. Applicstion ot Payments. Uniess appbcable law prowdes olhenv~se a;~ payments recewed by Lender under tne t~r,te ard ~aragraphs 1 and 2 hergo! sha~l be ~pp~~ed Gy Lender f~rst ~n payment ot amounts payabte to ~ender by BorroNrer u^:se~~ paragraph 2 hereOf, then to interest payable on the tVote then to tne p!~ncipal o! the No!e and then to +Meres! and pr~r,c~pa~ on any Future Advances 4.. Charges; Uens. Bor-ower shaU payall taxes assessments and other charges. hnes and impos~tions atUibutable to the Property which may atta~r, a pnor~ty'over th~s Mortgage, and Ieasehold payments o~ g~und rentS. ~f any: ~n the mar,ner c;~~~•. <<7ecf under paragraG~% 2 hereot o~. ~t not pa~d in such manne-. by Borrower making payment, when due. duectly to the ~layee ihereOt BUtrOW@t Shell At0lTlpl~v tu-nish to lender all noUCes ot amounts ~i«e un~iPr th~s ~ara~r~~n ~nr~ ~n thn pyPnt Borrower shait make payment d~rectly Bo-rowe- shaii prom~tly furn~sh to Lender -ece~pts ev~denc~ng s~~h paymenis gonoLVer shall promptly discharge ~ny lien whiCh has pr~on!i over thrs ~,~origa9e:,prov~ded. that 6crrpwer shaf~ not be req.,~~ed to d~scharge any such i~en so long as Borrower shatl agree ~n writ~ng to tiie paymenl ~ot the otil~at~on secu-ed by such I ~en ~n a manner acceptable to Lendet. or shall ~n good taith contest su~`N~~en by, or defend'enfofc~ment of such lien in. iegai proceeding5 which operate to prevent t~e entorCemeM of the I~en or forteiture ~of the Property Qr• any part thereof 5. Hazard Insurancs. Borrower shall keep the ~mprovemenls.now ex~sl~ng o: t;ereatter erected oR the Ptoperty ~nsured aga~nst loss by f~re, haz~rds mcfudeti xathin the term °ex;ended coverage". and such other hazards as Lender may. requ~re and i!1 SUCh afT10Uf1~S 8~1d ~Of Sl1C,h OP.f1C~1S a5 1 P.fl(~AI -P(I~uIP- (1-nv~AP~i thaf I anrlor chafl nnt rAni~iro tfio~ tho ~m.,.~..~ ..~ . . - - - - -- - - -- --,-.... ..._. ..... ~....,..... ~. sc:ch cove~agetexceed that amnunt of cove-age requ~red to pay ihe sum secu-ed by this Mortgag~ Tre ~nsurance carner prov~d~ng the ,nsurance shali be ~hosemhy Borrower subiect !o approval by tender. pro~~~cied t~at sur,n approva~ sr~all nol be u'~reasnn~bty wilhhe~d. All premfums or ~nsurance po~jaes shall be pa~ci ,n the manner c>rov~c2ed under paragraph 2 hereof ~.• ~t not pa~ci ir, such manner by Borro::er mak~ng paymen2. when due d~rectlv to the '1~Ufc:!!:E3 CdT~%PI. Afi ~r,surance pol~c!es andrenewals thereof sha~t be +n brm ac^es~tabfe ro l enher anci shai' ~nc!ude a standard mor,gage clause ~n favor of and m fprm aCCeptablP ;o Lender Lender shai! have ihe !~ght to hold the pot~c~es and renewals thereof. a~~ B~r-ower shan promptly f~rrnsh to Lender all renewal not~ces anci a~~ ~ece~pts o! pa~d prem~~ms In the event o' loss Borror~er sha~~ g~ve prompt not~ce to the ~nsurance carner and Lencier Lender may make proot o1 ioss it not made-~r~mptly by Borrower ' Un!ess Lender ar,d Borrower othenv~se agree ~n tvntmg. ~nsurance proceeds sha1~ Le a~p~~ed to ~estorahon or -epa~r o~ the Proaer!y damaged. prov~ded s~ch resto+a?~on or repa~r ~s econom~caUy feas~h!e a~ct the secun;y of th~s Movtgage ~s noi thereby ~mpa.recf If such resto~at~on or repa~r i~ npt eCOnom~CB~ly fP85~h~e a+ :t the secur~ty of tn~s Mortgage v~ouEd be ~mpa~-ed the msu~ance proceeds sha11 be app!~ed ta tnP sums securec~ hy th~s Mortgage w~tr. the excess ~f any pa~d to Borrower. If the Property ~s abandoned by Borrower. o~ ~i Borrower fa~ls to respond to Lende~ w~th~n 30 days from the date nchce +s ma~led by Lencler to Borrower IhaS the ~nsurance carner offers to setile a cia~m fo- ~nsurance henef~ts Lender ~s autnonzed to collect and appty the ~nsurance p~ocee~ls at Lender s ophon e~tner to re~toranon or repa~r o! thP Property or to the sums secured by this Mortgage ~ Untess Lende~ and Borrower othe-wise aqree in wrihno. any such anntir.at~nn ~f nrnrpPrtc tn ~,nn~~rg1 cha~l nnt nrtnn~ c~ pos'~one the due .~ate o1 the monthiy msta~lmerns referred ro~r? paragraphs t and 2 hereof or change ths amount of sucn ;nsta!Iments If under paragraph t S r~ereo~ the P~operty ~s acqwred by Lender a~~ r,gr,t t~re and ~nterest ot Borrower ~n and to any ~nsurance pof~c~es and m and to the proreeds tnerec~t resuit~ng from c!am3ge ,c~ the Property pnor to the sale o~ acqu~s~t~o~ shafl pass to Lender to the extent ot the sums secured by tr~~s Morigage ~mme~~ately pnor to such sa-e or act;u~s~hon ' 6. Preservation and Maintenance oi Property; Leaseholds; Condominiums; Planned Unlt Developments. E~,~•~:vQ~ shail keep the Property ~n goori r~pai~ and sha+i not r_ommit wasteoi perm~r impa~rment or deteno-ahon of the Pro- :~~•+': and sra~! compfy wdh the provis~cns of any tease ~f th~s Mortgage ~s cn a ieasehold if th~s Martgage ~s on a un~t .n a ,-•~~;~,rn;n~~,m or a p!anned un~t tfevetopment Borrower shali perform atl ot Borrower s obl~gat~ons ~nder the ~ec~arat~on ~~~•:~~~ants c+eanng or govern~r,g the condom~rnum ~,r p!anned urnt developme~t. Ihe by-,aws and regutai~on~ of the - :,^~,n;um~ or p!anned unit devetopment. and cOnst+tuent documer?is N 3 Condomirnum or planned un~t develCpment •~ te- .~ ~~er_uted by Borrnwer anii rer o-ded together w~th th~s Mortgage the covenants ar,ci ag+eements o! such ncier ~~ :, r,~ ;n.~;,rporate~f +nr.r, ancl shait amend and suppiement the covenants anC agreements of tn~s M~rtgage as ~f !he n~~er :.c..~~ y i ~A'. hF?ff~0~ • 7. Protectfon of Lender's Security. II Borrowet ta~is to perform ihe covenants and agreements contamed m tn~s ~J!~;r~ ~aye ~r ~f any act~on ~r proceed~ng ~s commenced wh~ch matenaliy attecis Lenders mterest ~r. the Property ~^c`urf~n~~ hut no! i~r,~tecf ro em~nent doma~n. ~nsolvency. code entorcement. or arrangeme~ts or proceed~nqs ~n~oiv~ng a r:+^: •;;rr :,~ ~lPf,P.df_'lll chen Lender at Lenher s ophon upon nahce to Borrower may mak;; such app~arances. ~i~sburse such .~, ~+^-; 'ak~ s,_,rh act~~,n as ~s nectssary to protec.t Lender s mterest. includmg. C~t no! limrted to. d~sbu~sements nt ~•. ~~ ::~ ~• =2" ~~ ~F'y s?ees an~f er~!ry upon ihe Property t0 mak@ re~ia~rs. If LenUer requ~retl mo~tgage insurance as a . ~~ ~' •-,<,~~~;~: rhe !oan secure~i bv th;s Mortgage. Borrower shall pay the ,xemiums requ~red tn ma~n!a~n Su~.h -.; :-~. F~ -~ ~•+~~cr ,mtr s,~~n r~me a5 the r~~awrF~ment fOr SuCh ~nsurance term~nates ~n aCCO~danCe w~;h E3~~rr~;.vP! S a~~f '~ ji~~i3' f - ~~ a~~c ~!~ ~