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Home My WebLink About1712 . ~ if Borrower pays ~'unds to Lcndcr, ~hc Funds shall bc hcld in an insiitotion thc dcposits or accounts ot W6ich aro insurcd or auaranteed br a Fcderal ot state ascncr lincludina Lendcr if Lcndcr is suc6 an institu- ~ioni. Lender shall appir ~he Funds to par said taxcs, aurssmenis, insurancc prcmiums and around ccnls. I.endcr mar not charae for so holdina and applvina thc Funds, analyzina said account or vcrityinE a~d compilina said asscssmcn~s and bills, unlcss Lcndcr pars E3orroWCr imcrest un ~Ac Funds and applicabic IaW pcrmi~s Lt~dcr to mate such a charsc. Borrowcr and Lcndcr may aarec in writins at ihc timc ot ctccution of this Mortaasc t6at int~rest on tho Funds shall be paid to Borrower, and unless such aarcement is made or applicable lavr requires ~ such inicca~ ~o bc paid, Lcndcr shall not be rcquircd to par BorroWer any interrst or tarninas on the Funds. ~ Lender s6ali aive to Borrower, Wit6out charEe, an annual accountinE ot Ihe Funds showina credils and debits ~ io ~hc Funds and tdc purposc for Which cach dcbit to thc Funds was madc. Thc Funds arc plcdEcd as ~ additional sccuri~y tor ~hc sums sccurcd Dr th~s Monaaac. ~ If the amount o( tAe Funds 6eld br Lond~r, toEcther wit6 ~hc future mont6lr installmcnis o! Funds p~rable prior to she due dates o( taxts, assessments, insurance premiums and around rents, shall excced the amount re- quired to pav said taxcs, asscssmcnts, insurancc prcmiums and around rents as ther tali due, such caceu shall ` bc, at Borrowcr's optiun, ci~her prompdr rcpaid ~o Borrowcr or crcditcd to BorroWCr on momhlr installments of ~ Funds. It th¢ amount o( t6e Funds heid Dr Lender shall not be sutficient to pav taxa, assessments, insurance ' prcmiums and around rents as ~her fall due, 8orrower shatl par ~o Lender any amount necessary to matc up ~ the dcticicncy in onc or more parmcnts as Lendcr mar rcquirc. ~ Upon parmcnt in tull ot al) sums sccurcd bv this Mort~aEc, Lcndcr shall promptir rcfund to Borro~ver anr ~ Funds hctd br Lcnder. I[ undcr paraEraph 17 hcrcof t6c Propcrty is sold or thc Propcrty is othcrwisc acquircd ? br Lendcr, Lcndcr shali applr, no latcr than immediatelr prior ~o the sale of thc Proper~y or its acquisilion by Lender, anr Funds hcld Dy Lender at the time ot app~ication as a credit aEainst the sums secured by this Mortsage. 3. Application of Payments. Unless appticable law provides otherwise, ail payments r~ceived by Lender under the Notc and paraEraphs I and 2 hereot s6a11 bc applicd 6p Lcnder (irst in paymcnt ot amoun~s payabls to Lendcr br BorroWer undcr paraEraph : hercof, t6en to intcrest parablc on thc Notc, and t6en to the principal ot the Note. 4. Prior Mortgag~s and Dteds of Ttnst Ch3rges; Litns. Borrower shal) perform all ot Boerov+er's obliaations under anr morisaae, decd of trust or other security aareement with a lien which has priority over t6is MortaaEc, includin~ Borrowcr's covcnants to matc parmcnts w6cn duc. Borrowcr s6all par or cause to bc paid all taxes, assessments and ot6er charses, tines and impositions attributable to the Propertr whic6 mar attain a priority over this Mortsase, and Ieaschotd parments or around rents, if any. ; 5. Hazard Insuranct. Borrower shal! kcep the improvements now existina on c~rcatter crccted on the P.operty insured against loss by (ire, hazards included wit6in the term 'extended coveraEe", and such otder hazards as Lcndcr mav rcquirc and in such amounis and for such pcriods as Lcndcr mar rcquirc. The insurance carrier providinE ihe insurance shall be chosen by Borrower subjcct to approval by Lender, ~ provided, t6at such approval shail not be unreasonablr withhe:d. All insurance policics and renewals t6ereot shal) bc in a forn acccptablc to Lcndcr and shall includc a standard mortEasc clausc in favor of and in a torm acccptablc to Lcndcr. Lcndcr shall havc thc riaht to hold thc policics and rencvals thcrcof, subject lo thc ~crms oi any mortEaEe, dccd o[ ~rost or othcr sccuritr aErccmcnt with a licn which has prioritr ovcr this ; MortEaac. ~ In thc cvent of loss, Borrower shall aive prompt notice to ~hc insurance carrier and Lender. Lender mar ~ matc proot of loss it not madc promptly by Borcower. ' ~ t6c Property i~ abandoned by Borrower, or if Borrowcr (ails to respond to Lendcr within l0 dars from ~ thc datc noticc is mailcd br Lcndcr to Borrowcr that thc insurancc carricr oftcrs ro scttfc a claim tor ~ : insurance benefits. Lender is authorized to collect and apply ~he insurance proceeds at Lender's option eit6er ~ to restoration or rcpair ot the Property or to the sums sccured bv this Mortsade. - , 6. Preservation and Maintenanc~ ot Property; Loassholds; Condomininms; Planncd Unit Developments. Borrowcr shall tccp thc Propcrtr in good repair and shall not commit wastc or permit im- ~ pairment or detcrioration of thc Propcrty and ahall complr with the provisions ot anr Iease it this Mor~EaEe is ' ~ on a leaschold. If this Mortaaae is on a unit in a condominium or a planned unit developmont, Borrow~r ~ shalf perform all of 8orcower's obligatons ander the declaration or covenants creatins or EoverninE t6e ~ condominium or planned unit development, the br-laws and regulations ot the condominium or planned unit = devclopment, and constiluent documents. F 7. ProteCtion Of Lender'8 SeCUtity. If IIorroWer taits to pcrtorm thc covenants and aarccments ~ contained in this MortEaEe, or i( anr action or proceeding is commenced which mattrially at[ects L~nder's ~ interest in the Propertr, then Lender, at Lender's option, upon notice to Borrower, mar mate such appearances, ~ disburse snch sums, includin~ rcasonable attorner's (ees, and tate such action as is neces3arr to protsct Lender's ~ imerest. If Lcnder required mortEage insurance as a condition ot matinE the loan sccurcd br this MortEaEe, ~ ` Borrower shall pay the premiums required to maintain such insurance in tttect until such time as the require- ? ~ ment for such insurance terminates in accordanee wit6 Borrower's and Lendcr's written aEreement or applicable ~ law. Any amounts disbursed br Lcnder pursuant to this ParaErap6 7, wit4 interest thercan, at the Note rate, shal! bccome additional indcbtcdncss ot Borrower sccured bv this MorlEage. Unless Borrower and Lender aErce lo ot6er icrms of parmcnt, such amounts shall bc pavablc upon noticc trom Lcndcr to Borrowcr rcqucstinE paJmcnt thcreof. NothinR contained in this paragraph 7 shall requitc Lender to incur anr expense or tate anr action hcrcundcr. 8. Inspection. Lcndcr may matc or causc to be madc rcasonable cntrics upon and inspections ot the f Propcrty, provided ~hat Lcn~cr shall Eivc Borrowcr noticc prior to any such inspcction spccifyins reasonabk ~ causc thercfor rclated to Lcnder's intc~cst in the Propertr. ; 9. Condemnation. The procecds ot anv aWard or claim tor damaaes, direct or eoasequential, in I c: connection with anr condemnation or other tating o( the E'roperty, or part thereof, or for conveyance in lieu ~ = ot condemnation, are herebv assianed and shall bc paid to Lender, subject to the terms of an~ mortaaae, deed I - of trust or othcr sccurity asrccmcnt with a licn which has priority over this Mortgaac. a~~~ 675 P,~~Z7i2 _ ~ . ~ ~~-y-~.~.~~. e