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Home My WebLink About0983 xvuu - U~t~o~tH CovEH~tm. dotYOwer ard l.p~der cavtaant and aarce u tolloMrs: l. Pay~eM ~f hi~c~i awi lMe~eat. Bo~rower ~,~i ~~~w~r wr When due the priactQai of and iaterat on the ~ndcMednat evidenced by the Note. prcQayannt and late charges as provided in tht Note. and the Princi~al of and interest oa aay Futurc Advaocp aecured by tbis Mortsa,=e. 2. 1ti~is fer Taps ~¦i ir~sea S1~bject to apQlicabk law or to a written waivu by i.ender. Botrow~er sbaA par to l.ender on ~ht day monthip ir~stdM~ems of princiQal and intercst arc payabk uader the Note. usitil tl~e Nore is paid in tull. a wrn (Aercin "Fundt'~ oqual to o~e-twtffth ot the yearly taxes and asussments which may attain prioriry mru this Mo~tsa~t, and Eround rcna on the Properry, ii any, plus one-twel[th of yearty prcmium installments [or haurd inwranoe. plus one-twel(th of yearly premium insta4lme~ts for mor~gag~ insi~rance, if any, a11 as rcuonably e~stimated initiatly and fmm time to time by Lender on the basis ~f usessmtnts and bills and reasonable estimates thetrof. 'i1~e Funds shall be held in an institution the dtpoaits or accounts uf wh!ch are insurcd or guarantoed by a Fedtral or state sgeocy (incladma l.tnder if Lender is suth an institution). l ender shall apply the Funds to pay said taxes, a.ssessrt?ents, insunnce premiums and ground rcnts. Lender may not charge for so holding and applying the Fu~xis, anafyzing uid arcount, or verifying and compiling said assessments ind bills, Ynless le[~der p.ys Borrower interest on the Funds and applicRblt law permits Lender to make sucA a charge. Borrower and Ltndtr may agree in writing at the time of esecution of this ~ Mottgage thst interrst on the Funds sfiafl be paid to Sorrower, and unless such agretmtnt is made or applicabk la~r 1 requira such interest to be paid, L~nder shall not be required to pay Borrowcr any interest or earnings on th~ Funda. l.~nder shall give to Borrower, withaut charge, an annual accounting o[ the Funds slxiwing credits ancf debits to the Funds and the ~ purpast for which each debit to the Funds was made. The ~'unds arc pleclged as additional socurity (or tht sums steurcd by this Mortgagt. If the amount of the Funds held by LenJer, together with the future monthly installments of Funds payable pr+or to the due dates of taxes, assessments, insurance premiums anJ ground rents, shall exceed the amount required to pay said tua, usessmrms, msurance premiums and ground rents as they fall due, such exress shall be, at R~irrower's option, either promptly repaid to Borrower or creaiited to Borrower on monthly installments af Funds_ lf the amount of tfie Funds held by Lender shall not be sufiicitnt to pay taxes, assessments, in~ur~nce premiums and ground rents as they faU due, Borruwer shall pay to Lender any amount necessary to make up the Jeficiency within 30 days from the date nohce is mailed by Lender to Borrower requtsting payment thercof. Upon payment in full of all sums secured by this Morigag~. 1_ender shall prompt{y rcfund to 8orrow~r any Funds held by l.ender. If under paragraph 18 hereof the Property is sold or the Property ~s otherwise acquired by Lender, Lender shall apply, no later than immediately prior to the ~ale of the Property or its acyuisition by Ix~der, any Funds held by L.ender at the time oE application as a credit against the sums secu~ed by this Mortgage. 3. Application of Payo~ents. llnlecs appficabie law pro~•ides osherwise. aH paymems received by l.ender under the Note and paragraphs 1 and 2 hereof shall be apPlieJ by Lrn~er fin~ ~n pa~~ment of amuunts Payable to I_enJe~ by Bo~rowe~ under paragraph ~ hereof, then ro interest payablc un thc Nute, then to the principal of the No~e, and then to inte~est and ' principal on any Futute Advances. 4. ChPrges; Ltens. Borrower tifiall pay all ~ates, a,xisments and other charges ~incs anJ im~xitions attributablt ta the Property which may attain a priority over this Morlgage. and IeaseholJ paymcnts or ground rents, if any, in the manner provided under paragraph 2 hereof or, if nat paiJ ~n such manner, by Borrow•er mal~ing payment, when due, dircctly to the payte fhtreof:~ Borrower shall promptly furn~sh w Lender all notices .~f amounts ~iue under this paragraph, and in the event Borrower shaµ,r t~n,~ke pgycMot direcdy, Borrowcr tihall promptly furnish to l.rnder rereipts evidencing such payments. Borrpr~er~~hal~,p{~mptly~~jieih~r~r~oPy,~~en which has pni~nt} uver ~hi~ tiiurtgage; prc~viJed, that Borrower shaU not be required 10 ~ischar$g apX sych~~, 1c~~ as Aorrower shall agree in w nl~ng 1~~ the payment of the abligation secured by '-3ucN~trt~1A'`amanne~'ace~~faAie`t-~fi&~, oi~shall in g~xxi fai~h contr,t su~h lien by, or ~efend enforcement of such lien in, i~d~gStoreedngs wfi'ich ~o~tul~~tr#~ire~t tAe~ entorccment of ~he lie~< <x futte~turc uf the Property ur any part Ihereof. S. Hazard Insurance. Borrower shall kcep ~he ~mpro~~emrnts now erisung ur hereafter erected on the Propert7 insured against loss hy fire. hazards included wiih~n the tcrm "e~~cndrd ~uv~ragc'~. and surh other hazards as Lender may require and ~n surfi amounts and for such periuds as i ender m:~y rcquire; pruvided, that Lender shall not require that ~he amoynt of ~ such coverage exceed that amou~+t v[ rnverage reyturrd to pay the sum> >ecured b)~ ~his Mortgage. ' The ~nsurance carrier Providing the insurance shall be chuxn by Borrower subject to approval by Lender, provided, ~ that such approval sha)1 not be unreasonably withheld. All premiums on insurance policies shali be paid in the manner provided under paragraph 2 hereof or. if not paid in such manner, by Borrowtr mak~ng paymentr when due, dircctiy to the f insurance carrier. ` All insurance policies and renewals thereof shall be in torm acceplable to Lender and shall include a standard mortgage I clause in favor of and in form acceptable lo Lender. Lender shall ha~e the right to hold the policies and renewals thtreoi, ~ and Borrower shal! promptly furnish to Le~der aN renewal notices and all receipts of paid premi,~mc. In the event of loss. , Borrower shall give promp! notice to ~he inwranic carr~er and Lender. Lendrr ma} make prcr~f of toss if not made-promptly by Borsower. ~ t Unless Lender anJ Borrow~er otherwise agree in ~:riting, insurance proceeds shall be applied to restoration o~ rcpair of ~ the Property damaged, provieied such restoraUVn or repa~r is economicaify feasible and ihe security oi this Mortgage is ~ not thereby impa~red. If wch resroration or repair is nc•t eronomirally (easible or if the secucity of this Mortgage would ~ bs impaired, lhe insurance proceeds shall be applied to thc, sums secured by this Mortgage, with the excess, if any, ptid ~ to Borrower. lf the Property is abandoned by Borrower, or if Bo~rower fails to respond to I.ender within 30 days from tbe ~ dale notice ?s mailed b}• Lender to Borrower that the insurance carrier ofTen ta settle a c{aim for insurance benefits, i.ender ~ is authorized tu collect and apply ~he imorance Qroceeds at Lender's option either to restoration or repair of the Propecty ~ or to the sums ~ecured b~~ this Mortgage. Unlesz I.endcr and Borrower otherwete agree ~n w•nUng, any such applirauon ~~f pro~eeds to pnnapal shall not extend € or poslpone the due ~ate of the munthly in+tallme~tt refcrred t~ u~ paragrapfi, 1 and 2 hereof or change the amount of ~ such installment,. If under paragraph 18 hereof the Propertt• ~ti acyuired by l.cnder. all right, title and interest of 8orrowe~ , in and to an~ insurance policies and ~n and to thr prcx;eeds thereot result~ng frum damage to the Proprrty prior to the sale k or acyuisition shafi pass to Lgnder to the ex~ent of the sums secured hy this ~lortgage immediately pnor to such sak or ~ acquisition. . - ~ 6. Prcsersation and :Nainfenance of Properl~; I.easeholds; Condominiums; Pfanned Unit Derelopments. ~Borrowec ~ shall kcep the Property iR good repair and shall not c~mmit waste or permit impairment or detereoration o! the Property ~ and shafl comply with the provisions of any lease if th„ Mortgage ~s on a Icasehold. If this Mortgage is on a unit in a condominium or a~lanned unit de~elppment. Borsov.er sha~{ perfarm al{ of Sorruwer's ot~f~gations under the deciaration G or covenants creating or governing thc condummium or Planned unit develupment, the b~+laws and regutations of the con,lominium or planned unit development, and constituent documents. If a con~ominium or planned unit developm~nt ~ nekr is executed by Borrower and recorded together w~th ~his Mortgage, the co~•enants and agreements of sueh ridar shal[ be incorporated ~nto and shall amend and supplement thc cove~ants aod agreements of this Mortgage u if the rider were a paR hereof. 7. Protection oi Lenders Security. If Borrower fads to perform the co~enams anJ agreements contair~ed in this ; 4iurtgage, or if any action or procetding ~s commenced which materially aRects Lender's interest in the Property, i including. but nat I~m~ted to, eminent danain, ~nsdvtncy, code enforeement, or arrangemanis or proceedings involving a ~ bankrupt or dec~dent. then Lcnder at Ltnder's op~ion, upon notice to Borrower, ma} make such appearances, disburx such ~ sums and take such action as is n~cessary to praect l,ender's interat, in::luding. but not limited to, disburxment of ~ reasonable attorney'. ices and entry upor, the Yropcrty to makc repaus. 1( Lender required morigage insurance u a ~ condition of mak~ng the loan secured by this Mortgage, B~irr.~v.rr shall pa}' tfie premiums requircd to maintain such insurance in efiect unul such ume as Ihe reyuirement for tuch ~nsurance term~nates in accordance with Botrower's and ~ .P;S[)~'~~ .t~K ~ a~ ~ ~~E 9~3 - - - - - - ~ - - ~`-~:x-~~ r- :_,~r' ~ -.:Z „~f~,.~:~x:~-,, ~~a.,:,;;~..~.,~..,sc -s. ~