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Home My WebLink About0922 _ • • t, ' ' f . . ~ . . iif ~ ~ UNt~at?t ~OVSraANTS. Aonower aad 1,.eack~.COVlaar~t and ~ree u lOUqws: . 1. hy01lp1 O~ t~I11QIMI Yd I1lftftll. Borrower shall p~omptly pay when due the principai ot and i~tercst on the indebtednet; e~ideoced by the Note. prepayment and late charges as provided in the Note, and the principd ot and interest on uiy Futurc Advances securcd by th~s Monsase. 3. Ftis~ Eor Ta~~g ~d Y!~prsact. Subjecl to spp~icab~k ~aw.,or to ~;w~itten waive~ b~r Lender. BoROwe~ ~Jl Wy b Lender on the day montlily i~ualim4~4s of.pri~cipal ~nd intcFest Are psyable uoder thc Note. uMil the Notqi~ p~id iq tull. : a sum (hereip ••Funds•.) equal~ tp one-tw~)fth of tho :yca~1Y taxea and usessments yv,hich a~ay. att~ia priocity. over,tbi~ Matja~e, and ~roW~d,~ents~oa t1~t Propcrly. if aay. p~us c+ne-twelf~h Rt ~'early premiym in;t~llme+~ts [or, l~zard in=uraaQe. ~ ptus one-tweltth of yearly prcmium installmee~s for mongage insurance, if any, sll as rcasonably estimated ~oitially a~d froal time to time by Lender on thc basis o[ assessments ~nd hills and reasonable atimata thereof. ~ '1?~e Flinds shall be held in an institution the depoaits or accaunts of which are insurcd or tuaranteed by a Fedenl or state aaenty (including Le~de~ if I.ender~i~ such an instiwtion). l.ender shall apply the Funds to pay said Iaxes. asseuments. ~ insurance prcmiums and g~ound rcnts. I.ender may not charge for ao bolJing and aaplying the Funds, analyzing said account, ' oc vfrifpin~ and oompiling said asses.unenu and bills, unlcss l:endcr pays eorrower intcrest on tfie Funds and applicable hw pent~ils Lender ta make such a charge. Borrower and Lender may agree in• writing at the time o[ estcution ot this Mongage that interat on the Funds shall hc paid to Bo~rc?w•er, and unlcss such agrcement is made or applicabk la~? requira such interest to be paid. l.ender shall nc?t h~ rcquireJ t~ pay B~~~row•e~ any imerest or earnings on the Fu~ds. Lender shall give to Borrower, without charge, an annual acc~~unling of ~he FunJa showing credits and debits to the Funds ud the purpox far which each debit to the Funds was made. The Funds are pledged as addi~ianal security for the sums securod by this Mortgage. If the amount of the Furtds held by [_enck~, together with the future monthly installments of Funds payabk prior to the due dates of laxes, asscssments, insurance prcmiums anJ grounJ rcnts, shall ercced tfie amount required tu pay said tua. assasme~ts, insu~ance premiums and ground rents ac tFn:}~ fall due, such ex~ess shall be, at Bc+r~owei s option. either praaptly repaid to Borrower or crcdi~ed to Bormwer on m~nihly ins~allmcnts of Funds. tf the amount of the Futd~ held by Leader shall not be sufficient to pay taxa, assessmentx, in~urance premium.c and ground rcnts as they fall due, Borrower shall pay to Lender anr amount necessary• ro make up ihe Jeficiency within 30 days [rom ~ht date notice is maikd by Lender to Borrower rcquesting paymcnt thcreaf. ' Upon payment in full of all sums secured by thic Monga~. Le~drr shall promptly rcfund to Borc~owe~ any Fundc •held by LenJer. If under paragraph 1R hcreof the Propchy i~ sc?Id u~ thc-Pro~xn~• is olhervvi~c arquircd by Lerder. Lender shal) apply. ~o later than immediatcly prior to tbc ~ale of thc Prupcrty or i~s acquisition by I.ender any Funds held by [.ender at the time ot applicatiop as a creJit against the sumc cecureJ by thic hlortgagr_ 3. A'plicsfion of Psymeats. Unlc.s ~pplicahlc law providcs o~herwi~, all paymentc rcccived by Lender under the . Note and paragraphs 1 and 2 herwf shall be applicJ by Lcndcr fin~ in pa~ment of amaunts payafile to LenJer by Borrower I under paragraph 2 hereof. then ro intcrcst payablc an thc ~lu~~, Ihcn lu ~h~ principal of thc Nac, anJ thcn to interat and principal on any Future Advanccs. . C6aRes: Lkas. BorroNrr chall pay all ~e~iw, a.crscmrnts ~nd othcr rhargec, tines anJ impcxiticros altributabk to ' the PropeNy which may attain a priority uver thi. ~lortgagc. and Ica.ch~~ld paymcnta or ground rcnts, if any. in the manper pt+ovided.uc~der paragraph 2 hercof or. ~f n~u paid ~n ci~ch mrnncr. h~ Bormwer mal.ing payment, whe~ due, dircctly to the payet the~eaf. Borrower shall prompNy furni.h w I.cn.kr all no~~c~~ o( amounts Jue under this paragraph, and in the eveot Borrower shall make payment dire~tl~. Burrrwrr .hall pn+mp~l~ lurni.h to IanJer receiMs evide~cing such payments. Borrower shall promptly dischargc any licn Nhi~h h.?s prianl~ u~~rr ~hi. Alungage: proviJed. that &xrower shal! not be rcquired to discharge any such Ikn w lang :~s B~?rruw~r ~hall agree in wntinb 1~~ ~hc payment of thr obliga~ion secured by such lien in a manner acceptable to I.endr~, ur ~hall in g.wrl lai~h rantr.i soch lien hy, or defend enforccment o( such liea ia. legal proctedings whieh operate tu pre.•cnt ~hr ~nf.~rcemcnt ul thc 6rn or-tur(ei~urc of the Propeny or'any part Ihercot. S. Huard I~nnce. Bc+rrov?~r ~hall I.~~cp ~h~ ~mpra.rmrn~. now c~ic~ing un c~rcafter ercc~ed on the Pmperry inwrtd agai~t loss by fire: hazards included withm ~hc ~erm "c~trnJr.l r~w~r~ge". anJ such other hazards ac Leoder may rcquire and in such amoun~s anJ for such periucl. a. I e~xlcr may r~yu~rc;: pn~~idcJ. ~hat I.cnJcr chall not requirc that the amoun! of ' such covenge exce~~d that amuunt of cm~r:~c rrywreJ ta pa~ ~1n •etm. Kti~vcd h~• ihis Monga~e. The inwrance carritr providing thc in~ur•rncc chall he rh~~ccn by Borrov?~r subject to ~approral by Lender. provided, t6at stich approval shall not be unrea.on•rhly ..ithhcld. All prrmiumc on insurance policia chall be paid in the [nanner ; provided under par~graph 2,hCrcof or, if not paid in such manner. by Borrov?ec making paymeet. when due, directly to t6e iuturan~x curier. _ ~ .All inwrance policits~anJ rencv?als ther~ol shalf tk in form rrccp~abk to l.en.kr ana shall include a sundard moctpse clause in favor ot aad in form accept:?bk w[.cnJer, l.~nd~r .h:dl ha~c ~hr righ~ tr hold the poRicies aod rcnew~ls thercof. and Borrower shall promptly furnish to Lenckr ~II rcn~wal notices anJ all rcceip~s of paid premiumc. lo the event o~ loss. i florrower shall givc prompt notice to the inaurancr carricr anJ I.enJcr_ 1 endrr ma~ roake E?roof of loss if not made-promptly ~ by Borrower. . Unlas Lender anJ 9orrower othcrwisc agrec in w rit~ng, imuranrc prorccd~ shall be applied to restoration or repair ot ~ the Propeny damagecl. proviJed such re~rora~ion ~x rcpa~r ii economirally foasiMc and thc security of this Mortaate is not thereby impairod. It sur.h restoratian or re~?a~r is n~?t «.~~KHnicall} fcacible .~r it the xcurity of Ihis Morigage Would be impaired, tbe insurance pnxeals shall bc :~Pp1ieJ to th~ ~ums •ccureJ h~~ this Martgage. v?•ith the ezecss, if any. paid ~ to Borrower_ If ~he Propen~ is al~aixloneJ h~ Borrov?cr, rr i( Borrower I~il. ~o respcmd to Lendcr within 30 days from tbe date notice is maileJ by Lender ~o Borrawer that ~he incurance carricr alfrrc tu .e~lle a claim for inwrance benefits, i~~der ~ is aut6orizal to ~vlkct anJ apply the imurancr prc~ceeda at I.cnJcr'. option eithrr to restoration or repair of the Property or to t6e suros ~ured hy ~his Mortgagc. Unless Lcndcr and liurrov?•cr olhcrwi.c agtce ~n v?ntnig. an~ tiuch :~ppliranon rf prc.cccds to principal ~hall not extend or postpone the d~k da~c of th~: m~m~hly in.t:dlmcn~. r~fcrrcd in para~raph. 1.~nJ 2 hcrcof or changc thc amount ot such installnxnts. 11 tmder paragraph 18 hcreot thr Pr~~pcrt~ •rcyu~rcJ h~ IxnJ~r, all right. ~itlc and interat of Borrower ~ in and to any insurance polirie.c and in anJ io ~hc pn.cerJti thcrcol rc•ulting frrm Jamage ro the Property prior to the sak or acyuisition sh:dl pass to Lender to the e~tent of ~h~ ,uma sccureJ h~ thii \lortgag~ immedia~cly prior to sueh uk or ~ acquisition. ~ ~ - , " { i, hesen~alioa aad ~lsjnteaance ot Properf~; l.eaxhulJs: Cui~dominiums; Plsnned Uak I~velopauals. Bortower ~ shall ktep thc Propcrty in good r~pair and shall nw commi~ w:?ctc ~~r pc~mit iinprirment or ckterioratioo of the Ptopetty ~ and shall compty with the provisions uf any lease it ~hi~ ~lortgag~ ~s un a kaschuld. If this Nurtgage is on a unit in a ~ condominium or a pl~nned unit ~kvclupmcn~. Borr~~NCr .h.~ll ~x:rfurm ~11 .~f Bormwer's obligations under the declantion ~ or covenapts crcating or governing thc, condom~nium ~~r planned unit develrpm~nt. the by-laws and regulations of the etmJominium or ptanned unit deveiopmen~. and constituent Jck'um~n~c. I( a conJuminium or planned unit Jevelupment E riJtr is executcd by Bonowe,~ and recorded [ogether N~,th th~s Mortgage~ the covenants and agteeax~ts of wch ~ rider ~ shall be incorporated into anJ shall amcnd •rnJ suppl~m~nt ~hc covenanls and ag•ccments o[ this Mortgage u if the rida ~ were a part hereof. 7. YrMectbn ot Lende~'s Secu~ity. If Borrow•er failc to ~rform the covenants anJ a~reements contained in this ~ Mo~~gaje. or if any action or procading is commenceJ •xhich' materially aRects Lenderi inlerest in the Property. ~ - includin~, but not limited to. eminent domain, inwlvency, so~c-eR/oroement, or arnngeme~ts or proceedinp involvlnj a aaalcrupt or decedent, ~hen Lender at I_ender's option, u`pon nwice to Borrower, ma) mske such ~pptaranoes. disbune sue6 ~ sums and take such action as is necasary to protec~ Lender s interest. includin=, but not lim~ted b. disbunenfeat ot ressonabk attotney's tees and enlry upon the Propeny to make rcpairs. If Lender roquirtd .mort~s~e ins~uaaoe at a ~ coodition oE ~aakins the ban secur~ed by this Mongage. Borrower shall pay the premiums roquicod W maiMain wch • iaauaooe ia eRect until such tune as the requireraent for such insurance terminsta ia sccotdance witb Hoteawrs an4 . S . ~ ~ ~ . ~ ~ ..s~~:. ~ • ' , ~ . ~ 3 96 . q ~ 3 ~ ~ - - - - - ~ - - -