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Home My WebLink About0931 . _ _ . _ _ _ . ~ . ~ . ; • ~ . ,Z ~ • _Y ' s ti ~ ~ ~i Borro~re: and I.end~ ooYenant and ye+~s a~ folio~n: 1. P~eat ot PriAClpal ~nd intee~e~t. Harow~r ~haU PromPW? pp? wMa dw th~ peindpal of and intered oa tbe iadebtedaas evidmad bY d~e Not~s, p~epaya4e~t ~nd late cbar~e~ a~ provided in tM Not~. and the ~iacapal ot and intawt on any ~tars Advanca ~scurd by thi. MoeiR~e. ' ` 2~ fos Ta~ces aad Inwe~aoe. 3ubjed to applicable law os to a writt~ waiver by Leade~. Borrower shaU pqy to Ler?der on the day monthly iruWlmeats of princip~l and iAtecest ue payable unde~ the Note. uatil the Note is paid in full. a sum (ha~ein "Ftiu?ds'~ e4ual to ons , twelRh olthe year~y taxe~ u~d aaeanawts which auU? attain priority over this Mort~a~e. and ~e~ouad r~ts oa the Property. if eqY. Plua oae- tw+e~M of Year~1? Pe'emiwn inatall~neat~ for hassrd insureinoe, plw onetwelith of Yearl,p Premium instaUm~ts for ~aor~ese insurance. if aaY. all a~ rsa~onably estimated Initial~y aad brom tim~ to time DY Latder on the basis of a~asments and billa and reawnable eotimates tliereof. 7~ Pbnds ~hall be held in ~a inditntion the d~posit~ or ~ooounb of which are iilsured or ~uarantesd by a Federal or 3tate ~ency (inclndins Lead~ if I.ender ia w~ nn institation~ I.sader sh~ll appl,jr the F~nds to p~y said taze~. a~seaanents. insnraace premiams end ~ ground reats. l.at~der may not d~ar~s fa~ ~u hol~ns and applyin~ fbe I~nds. an~lysin~ swid aoooua~ or v~ifying and compilin` eaid aeseameab and biW. anlas I.eader pays Boe:+ower interest on the Ptiu?ds and applicabk lew permib Lend~ eo make such a charQe. Borzowar and Iwndes awy a~res ia writia~ at tbe time of e~cecntion of this Mort~a~e Wat intere~t on tbe P1?nds shaU be paid to Borro~~ and unlew such ~reem~nt i~ made or applicabk law reqaires wch interat to be paid. Lender shaU not be required to psy Borrowe~r any intered or earnings on the Pbnd~. Lender ehall sive to Borrower. without charge. an annual aooounting of tAe ~nds sho~rin~ credita and debits to the F~nds u~d the pnrpose for which each debit b the PY~nda was made.'ILe Fuads ere pledged as additional ~ecurity for the ~ums secnrod by t1~i~ Mortgage. Itthe ~mount of the Pbnd~ hdd by Lender. together wiW the fnture monthly installmenta of Fund~ p~yyabk prior to the dne dates of tazes, assessmeats. in~nranoe preminau sad ground eents. shall ezoaed the amount required to p~y said ta:ea, assessments, insuranoe pnminma and ground r~b as the~? fall due. ~nch esoa~ shaU be. at Borrower'a option. eithes promptly reprid to Borrower or credited to Borrower on monWly installment~ ot Pbnd~. U We amount of the I~nds heW by Lender shaU not be suf~cient to pay t~a. aas~siaenta, ina~rance premiume and ~ronnd rente as they fall due, Boirower shall pay to Lender eay amount neoessary to mal~e np the deficiency aithin 30 days from the date notioe ia mailed by Lender b Borrower requesting payment thaeof. Upon payment in fnll of all snme secured by this ModBege. Lender shaU prompdy refiind to Borrower any funds held by Lend~. If under paragraph 18 hereof We Property is sold or the Property ia otherwise aoquired by I.ender. Lebder shall apply: ao later than immediately prior to the sale of the Propezty or its aoquirition by Lender. any PLnda held by Lcnder at the time of epplication as a credit against the aume aecured by this Moctgage. 3. Applk~adon of Psymenta. Unksa applicabk lew provides otherwise, all paymenta received by Lcnder under the Note and paragnphs 1 and 2 hereof ehall be applied by Leader firat in payment of amounta payable to Lender by Borrower under parsgraph 2 hereof. then to u?terest pe~yable op the Note, then to the principal of the Note. and then to intereat and principal on any Futnre Advanoes. 4. Chae~es: I.iens. Borrower ahall pay all t~ea. asaesements and other chargea. fines end impoaitione attributable to the Property which may attain a priority ovar this Mortgage, and leaeehold paymenta or ground rents, if any, in themannerprovided under paragraph 2 hereofor. if not paid in such manner, by Borrower making payment, when due, directly to the payee thereof. Borrower shap prompdy furnish to I.ender ` all noticea of amounta due under thia paragraph, and in the event Borrower ahall make payment directly, Borrower ahall pmmpdy fiirniah to - ~ Lender receipta evidencing such pa~ymente. Borrower ahall promptly diarharge any lien which has priority over this Mortgage; pmvided, that Borrower shall not be required to discharge any such lien ao long as Borrower shall agree in writing to the payment of the obligation aecured by such lien in a manner acoeptable to Lender. or shall in good faith rnntest snch lien by. or defend enforcementof such lien in.legal proceedinge ; which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof. ; 5. Hazard Inaurance. Borroarer ahail teep the impmvemente now e~ciating or hereaRer erected on the Property inaured againat losa by ~ fire, hezarda included within the term "extended coverage." and auch other h azarde se Lender may require and in auch amounts and for such periode as Lender may require; provided, that Lender ahall not require that the amount of such ooverage e~cceed that amount of caverege ~ required to pay the guma secvred by this Mortgage. . f ( The insucance carrier providing the insurance shall be chosen by Rorrower subject to approval by Lender, provided, that such approval ~ shall not be unreasonably withheld. All premiuma on insurance policies shall be paid in the manner provided under paragraph 2 hereof or. if ~ not paid in such manner, by Borrower making payment, when due, directly to the insurance carrier. E All inaurance policies and renewala thereof ahall be in form acoeytable to Lender and ahall include a standard mortgage clause in favor of ~ and in form acceptable to Lender. Lender ahall have the rjght to hold the policies and renewala thereof, and Borrower ahall promptly furnieh to ~ i.ender all renewa! noticea and ell receipts of paid premiuma. In 1he event of lose, Bor~vwer shall give prompt notice to the insutance carrier ~ and Lender. Lender may make proof of losa if not made prompdy by Borrower. ~ Unleea I.ender and Borrower otherwiee agree in writing, inaurance pmceeds shall be applied to reatoration or repair of the Property i damaged. provided auch reatoration or repair ia economically feaaible and the eecurity of this Mortgage ia not thereby impaired. If snch E reetoration or repair is not eoonomically feasible or if the security of this Mortgage would be unpaired, the inaurance proceeds ahall be applied ~ to the suma eecurPd by this Mortgage, with the excess, it any, paid to Borrower. If the Property ie abandoned by Borrower. or if Borrower fails to ~ respond to Lender within 30 daya from the date notice ia mailed by I.ender to Borrower that the inaurance carrier offera to setde a claim for E inaurance benefits, Lender ia authorized to collect and apply the insu:ance proceeda at Lender s option either to reetoration or repair of the ~ Property or the aums eecured by this Mortgage. ~ Unlese Lendez and Borrower otherwise agree in writing, any such application of proceeda to principal shall note~ctend or postpone thedue ~ date of the monthly instaUments referred to in paragrapha 1 and 2 hereof or change the amount of such installments. If nnder paragreph 18 hereof the Property ie aoquired by Lender, aD right, title and internat of Borrower in and to any inaurance policies and in end to the proceeds thereof resulting from damage to Property prior to the sale or aoquisition shall pasa to Iender to the e:tent of the sums eecured by thia Mortgege immediately prior Eo snch sale or aoquisilion. , 6. Preservsdun and Maintenance of Property; I.easeholds; Condominums; Planned Unit Developmenta. Borro~ver shall keep the Property in gaod repair and shaU not commit waste or permit impairment or deterioration of the Property and ahall comply with the ~ provisiona of any lease if thia Mortgage is on a leasehold. If this Mortgage ia on a unit in a rnndomininm or a planned unit developmen~ ~ Borrower ahall perform all of Borrower's obligations under the declaration or covenante creatingor governing the oondominium or pianned ~ unit development, the by-lawa and regulationa of the condominium or planned unit development, and constitnent documenta. If a ~ rnndominium or planned unit development rider is executed by Borrower and recorded togethrr with thia Mortgage, the oovrasnfa and ~ agreements of such rider shall be incorporated into and ahali amend and supplement the covenanta and agreements of this Mortgage as if the rider were a part hereof. ~ Protecti~ oi Lender'~ Security. If Borrower fails b paform the oovenants and agreemente oontained in this MortBaee. or if aqj? action or prooeeding is vommenoed which materially affects Lender'a interert in ttie Property. including, but not limited to. eminent domain, ' ~ in~olvency, oode a?forament, or arran~ements or proo~eding~ involving a bankrupt or deoedenR thes Lender at I~enda'~ option.upon notioe to Barmwer may mal~e ~nch appe~noe~. disbnise o~ch sums aad take wch action as u neoeaary to proted I.enda'~ interes~ including, bnt aot limited to, diibnr~em~t of ressonable attorney'• fees and enay upon the PraQercy.io mai~e repain. It I.ender reqnired mortga~e inaurence as a oondition of malring the loan secured by this Mortgage, Borrower ahall pay tbe preminms required to maintain auch insurance in effect nntil anch time as the rcquirement for euch insurance terminates in aooordance with Borrower's and Lende~~ wr~tten sgreement or applieabk I.aw. Borrower shall pay the amount of all mortgage inanrance pren?iums in the manner provided unda~ paragraph 2 hereoL My amonnta disbnrsed by I.euder penuant to this ParagrePh 7, with intereit thereon. ahell beoome additioaal indebtednea of r Barrowe! se~vred by this Mortgaga Unlees Borrower and Lender agree to ofh~ terms oi payment, auch amounta shall be payable upon ~ notioe from Lender to Borm~ver reqneeting payment thenof, and shall bear intenst from the date of disbnrsement at the rate payabk &om . € . time to time on ontstanding principal under the Note unless payment of intere~t at ~uch rate would be auntrary to applicable law~ in ~?hicb event such amounls shall bear iaterest at the highest rate pamiasibk nnder a~licable law. Not6in~ ooptaipd ip :thu para~raph 7, ~hell requin Lender to incur any e:penie or take any action hereander. ~ ~ ~ ~ . • - ~~4ii P~~2449 ~ 93~ ~ ~ ~ ~ ~ ~~.R~~a r - - ~ - -