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Home My WebLink About0988 • _ • _ _ _ _ _ _ _ _ _ - - - _ . . ~ : ~ ~ « t~!"~ , uNa~ow cor.N~?~+n. ea~ .ad 1..4a.r oown.~~ .aa .p~e. s~ rauo«.: ' 1. ly..~t .[~rd.c~.~ ~M~+.M. eor~owrr .hW P~PU!? F•r wbea ~e ths priacial oc .na iaee~wt oa d~. inaeboednas evideooed by tbe No~e~ Pnpaya~eat aad lale cha~ as pro~ided ie ~be No1e. aad tbs pcincip~l ot and in~aat oa aoy Futuro Advaaoa ~ecund b~? tha Ma~ap. - ~ Z. lrwi hr 71~ a~i I¦nr~w Stitbject to applicabk bw o~ ~ a written w*uver .by Le~. Boao~e~ s6~s11 pay ' co i.ande~ on che day moa~hry iaadlme,~a of principal and iMena are payabk uQder ~he Note. ua~il cbe No~e a Qaid ia tuU. s suaa (hereta "Fundt'~ eqwl to oaatwdith ot tlie yearip laxes and as~asma~b which may sttaim pnoritp owr t6b i Mortsaje, and p~a~od ~+ea1s oa tbe Pteperty. ii aqy. p1~ cae-tMralfth of yearly premiwa inqallmeab tor luwtd irnurmot. , plus oastwelf•h o[ y~eari~r ptemium ia~allmeats fof mortpso inwnnoe. if any. all as reatotubiy atia~ated initiallr aad t~m ; time W time bp I.eoder on the batis of as~aeneats snd bilb and ce~onabk ettimates the~+eof. '!be Funds t6a1t be beld ia aa institution the deposib or ~ccounts of which ara inwred or Suanateed by a Federal o~ suta asency (includinj I,ender if.i.eoder is such an ia:titution)• l.ender ~all apply ipe Funds to pay:aid taua. as~b. iusuranoe premitur~s and gt+ouad rents. Lenda may not cbarse for w holdina and applyins the Funds. analyzin; taid aooount, or verityin~ aad oompilins said assessrnents and biUs. unless Lender pays Borrower ioterest on the Funds aad applipbk lawr permits L.ender to make such a chu~e. Ho~ra~ver and L,ender may agree in writing at the time of eaecution of tha Mortp~e that interat on the Ptinds shall be p~id to Barrower. a.-~d unlas such agneemeat is made or applicabk laa roquira such interest to be paid. Lender shall not be requitcd to pay Borrower any interest or earnings on tlie Funds. I~eader ahall give to Bo~ower. witlwut charge, an annual aooountiog of the Funda shovving crcdits and debits W the Funds and the . ~ purpoae for which each debit to the Fuads was made. The Funds arc pledged as idditioaal sawrity for the wms secured by Wa Mortpae. If the amount ot tt~e Fuads held by Lender. together with the future aao~thly installmeats of Fun~ payabk prior W che due data of taxes,~asseasmeats. insnrance prcmiums and g~ound rents, shall eacceed the amount required to pay xid wca. a:aessments, insuranoe premiums and ground rents u they fall due. such excess shall be. at Borrower's option,_ eitlxr promptly repaid to Bormwer or credited to Borrovrer oa .monthly insallments of Funds. If tl~e amount of the Fund~ held by Lender sUall aot be suA'kieat to pay taxes, sasesunent:, insurance premiums and grou~d rents as they fal! due, Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days fmm the date notice is msiled by L.ender to Borrower requesting payment theroof. Upon payment in full of all suuu aocured by this Mortgage, l.ender shall promptly refund to Borrower any Fund~ heW by Lender. If under puagraph 18 hereof'the Property is wld or the Property is othervvise acquircd by Lender. Lender shall apply. no later t,''ian immediately prior to the sak of the Property or its acquisition by Lender, any Funds held by Lender at the time of applicatan as a credit against the sums secured by this Mortgage. 3. AppBcation of Py~ts. Unl~c applicabk law provides othervvise, all payments' received by Le~der under the Note aod paragraphs 1 and 2 hereof sha0 be applied by Lender first in payment of amounts payable to Lender by Borrower under pa[agraph 2 hereof. t6en to interest payable on the Note, then to the principal of the Note. and then to interat and principal on any Future Advanoes.. 4. C6ar6es; Lkas. Borrower shall pay all ta~es, assessments and other charges, fines and impositions attributabk to the Property which may attain a priority over thic Mortgage. and leasehold payments or ground rents, if any, in the msnner pmvided under paragraph 2lieroof or. if not paid in such :nanner, by Borrower making payment. whea due, directly to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph. and in the event Borrower shall make payment directly. Borrower shall promptly furnish to Le~der receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Morigage; provided, that Borrower shall not be - required to dixharge any such lien so long as Borrower shall agree in writing to the payment of the obligation securod by such lien in a manner uceptable to Lender. or shall in good faith contest such lien by, or defend enfoccement of auch lia~ ia, legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part tixrcof. - ' ~ S. Auard Iasnnnce. Borrqwer shall keep the improvements aow existing or hereafter erecttd on the Property iawced ~ ' agai~ut loss by fire. hazards encluded wilhin the term "extendcd coverage and such . other hazards u Lender may roquire I and in wch amounts and for auch periods ac Lender may rcquire; provided, that Lender shall not rcquire that the amount of such coverage exceed that amounC of cover.ge required to pay the sums secured by this Mortgage. ' . The iowrarnx carrier providing the insurance shall be chosen by Bonower subject to approval by Lender, providod. ! t6at wch approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner ; ~ provided under paragnph 2 hereof or. if ~wt paid in such manner, by Borrower makiag payment. when due. diroctly to the ~ insurana curier. • ` All insurance policies and renewals thereof shall be in form acceptable to Lenckr and shaU include a standacd mortgage E clause in favor of and in form acctieptable to Lender. Lender shall have the right to hold the policies and renewals theteof. ~ and Borrower shali promptly furni:h to Lender all renewal notices and all receip~ of paid premiums. In the eveot of loss, ~ Borrower shall give prompt noticx to the insurance carrier and Lender. Lend~r may make proof of bss if not made promptly i by Bornower. ~ Uaks~ L.ender aad Borrower ~l~erwise agr~e in writing. insurance procceds shall be applioal to ratoration or reQair of ~ the Property damagod. provided such restoration or repair is economically feasibk and the securiry of this Moctgase is ~ not thereby impaired. If such nstoration or repair u not cconomically feasible or if the security of this Mortgage woWd ~ be impaired, the iruuranoe pruceeds shall be applied to the swns secured by this Mortgage. with the eaccest, if any, paid F to Borrower. If the Property is abandonod by Borrower, or ~if Borrower fails to respond to Lender within 30 dan from the ~ date notice is mailed by Lender to Bonower that the insurance carrier offers to settle a claim for insuranoe benefits. Lender ~ is suthorized to colket and apply the insurance prooeods at Lender's option eit6er W restoration or repair of the Pmpetty ~ or to t6e suer~ secured by t6u Mortga~e, ~ Uakss Lender and Bonower otherwise-agree in writing. any such application of procoeds to principal shall not exteod or postpone tlx due date of the monthly install~nents reEerred to in paragraphs I and 2 heroof or change the smount of ~ such installments. If under paragraph 18 bereof the Property is acquircd by Leader, all right, titk and interat of Borrower in and to any inwraace policia aed in and to the proceeds thereof raulting from damage to tbe Pmperty prior W the sak ~ or acquisidon shall p~ass to Lender to the exteat of the sums secured by this Mortga~e imrt~odiatdy prior W wc6 sak or ; accluisition• ~ . f. Treservatlo~ a~i Ma~tenaoce ot Prnpert~, Lea~ehold~ Coodomioiv~as; Pfaooed U~it DerdoNesb. Borrovvet shall keep the Propecty in good repair and s6a11 not commit wute or permit impairment or detaioration of t6e Propecty and shall comply with the pmvisioos of any~ lease if this Mortgage is on a kaseho{d. If tha Mort~age is on a uait in a condominium or a planncd unit development, Borrower shall perform all of Borrower'f obligatia~s under the decluation ' or covenants creating or governing tbe condominium or plaaned unit development, t6e by-laws and regulatior~ of tbe condomininm or planned unit development, and coratituent documents. If a condomiuium ot plannod unit derdopmeat rida is executed by Borrower and recordod together with this Mortgage. the covenants and aareaneats of wch rider ~ali be incorporated into and s6a11 amend and supplement the covenants aad agreements of this Mortsa~e a= if ibe rider were a part hereof. 7. h~otecdo~ of Le~der's Secrriry. If Borrow~er fa;ls to E+erform the cavznants and a6reements contained in this ~ Mort~age, or if any acGon or proc~oding is commenad which materially aHceb Lender's interat jn tbe Property. ; includina. but rat limited to, eminent domain. insolvency. code enfonxment. or urangements or pnooeedinas imdvinj a - b~nlcrupt or dovedent, theo Lender at Le~der's opeion, upon notioe to Borrawer, may malce such ap~pearanoa, di:burse wch wms and take such actioa u i~ neoauary to protcet Lenders interat. includins. but ad limited W. di:bunanent ot rrawnsbk attorney's foa and entry upon the Property W make reqin. It Lender roquired ~nortia~e iosuranoe as a ' conditioa of mslciaj tbe ban sxured by this Mortaase. Borrower shall pay the pr~miums required to maintaia such inwraooe in eQect unW wcb time u tbe requirement for such in:uraace terminata ia aoootdsnoe with Bon~w~es's ~d doa 4~33 n~ 9~~'~~~~~s#3~ - ~