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Home My WebLink About0679 UN[PORM CbVBNAN'fs. Borrower and Lender covenant and agree as tollows: l. ~t ot hioic~l asd 1Neresl. Borrower shall promptly pay when due the principai af and interest on 1he indebtednat evidenced by the Note, prepaytt~ent and late charges as provided in the Note, and the principai of and intercs~ on aay Futuro Advances secund by tha Martgage. Z. F~it tor ~1'ases a~i l~w~arca Subject to applicabic law w to a written waiver by L.cnder. Horrower shall pay to Lendet on the day monthly inttallments of principal and interest arc payable under thc Notc, until the Note is paid in full. a swn (berein "Funds'~ ~qual to one-twelfth of the yearly taxes and assessments which may attain priority over ~his - j Mott`age, and around reuts oo tbe Property. if any, plus one-tw~elfth of yearly premium installmcnts for hazard insurancc, ~ plus ooatwelfth ~nf yeuly premium installtaenta [or mongage insurance, if a~y, all as reasonably eslimated inilially snd from t tirne to time by l.ender on the basis of asxssments and bills and reasonable estimates thereof. 'ibe Funda stull be 6eld in an institutiort the deposits or accou~ts ot which are insured or guaranteod by a Fakral or ? state agency (including L.eadec if l.ender is such an institution). Lcnder shall apply the Funds to pay said taxes, assessments. ensuraooe premiuma aad ground rents. Lender may not charge for so holding and applying the Rundc, analyzing said account, or vwitying aad oompiling said assessments and bills, unless L.e~der pays I3orrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may. agrce in w~ting at the time of executian of this Moctgage that interest on the Fuads shall 6e priid to Borrower. and unless such agrcement is made or applicable law ~ requira wch interat to be paid. Le~der shall not be roquir~:d to pay Borrower any iaterest or eamings on the Funds. l.ender s6aU grve to Bomower, witlwut charge. an annual accounting of tl~e Funds showing crodits and debits to the Funds and the ' purp~ose for which ~ach debit to tbe Funds was madc. 'ibe Funds are pledged as additional security for the sums socured ~ by this Mortaaae. If tbe atnount of the Funds held by I.ender, together with the future monthly installments of Funcls payable prior to the due dates of taxes, a~ments~ insurance premiums and ground rents, shall exceod the amount required to pay said taxes, a~mep~s. ~nsuraoce premiwas and ground rents as they fall due, such excess shall be, at Borrower s option. either promptly repaid to Borrower ~ creditod to Bomower on monthly installments of Funds. If the amount of the Funds beld b7? Lende~ sl~a11 not be suH'iciwt to pay taxes, a~nts, iraurance- premiums and ground rents as they fall due, ~ WY a~y amount aeoessary to make up t6e deficiency within 30 days from the date notice is mailed bg? L~der to Borrowet ioquatin8 WYment theroof. UP~ MY~t ~~11 of al1 wms sxured by this Mortgage, l.ender ~all promptly refu4d to Borrowcr any Funds ~ held by Lendet. If under paragraph.l8 heroo[ the Pc~operty is so{d or the Property is otherwise acquired by I.ender. I.eader a6all appty. no later than immed'wtdy prior to the sale of thc Property or its aoquisition by Lender. any Funds held by I.eader at t6e time of application as a crodit against the sums securod by this Mortgage. ~ 3. A!likatioi of ~p~aKab. Unless applicabk law provida otherwise, aQ paytnents received by Lender uader the ( Note and puagraphc 1 aad 2 he~eof s6a11 be appliod by Lender S~st in payment of amounts payable to I.ender by Borrower i under parsgraph 2 heroof. thw to interest payable on the Note, then to the principal of the Note, and thea to interest an~ ~i principal on any Fut~u+e Advanoes. 4- C6~e~ IJeas. Borrower shaD piy all taxes, asse,s~nents and other charges. fines and impositions atvibutable to the Property which may auain a priority over this Mortgaga, and kasehold paymeots or ground rents. if any. in the manner ~ Pruvided under parsgrapl~ 2 hereof ar, if not paid in such manner. by Borrower making payment, when due. directly to the P~Y'~ thereof. Bomawer s6a11 prompdy furnish to L.ender all notioes of ainounta due under this paragraph, and in the eveat Bon+~wer sl~aU make payment direcdy. Borrower shaU prompUy fumish to Lender roceipts evideocing such payments. Borr'awer sha11 promptly discharge any lien which has priority over this Mortgage; provided. that Borrower shail not be roquired to discharge any such lien so long aa Borrower shall agroe in writing to the payment of the obligation sa:ured by s~cL liw in a maoner aoceptabae to Lender, or shall in good faith contest such lien by, or defend enforcement of auch lien in, kgal proooodings which operate to prev~nt the enforcement of the lien or forfeiture of ttx Property or any part tbereof. - S- Nanrd I~ra~ce. Boaower s6a11 koep the improvements now existing or hereafter erected on the Property iawrod a8ainsi Mss by fire, hazards includod witttin the term "eateaded coverage", and such other hazards u Lender may require and in suc6 aa~ounts and for such periods as Lender may require; provided. that Lender shall not require that the amount of suc6 ooverage exoeed that amount of coverage required to pay the sums socurod by this Mortgage. 'Ibe inwranae curier pmviding the insuranoe s6a11 be chosen by Borrowef aubjoct to approval by Lender, provided, t~at wch apponval s6a11 not be unreasooably withheld. All p~emiums on iosurance policies shall be paid in the manner provided under paragraph 2 6ereof or, if not paid in such manner, by Borrowet making paymeat, w6en due, directly to t6e inwranoe carrier. - ~ All insurance policies and reaewals thereof shall be in form acceptable to Lender and shall iaclude a standard mortgage clause in favor of and in form acceptabk to I.eader. Lender shall have the right to hold the policies and reaewals thereof, and Horrower shall promptly furnish to Lender all renewal notices aod all roceipts of paid prerniums. In the event of loss. ~ ! Borrower shali give prompt notice to the insurance carrier and l.ender. I.erider may make proof of loss if not made promptly ~ by Borrower. ` Unlesc Lender and Borrower otherwise agree in writing, insurance procceds shall be applied to restoration or repair of the Property damaged, provided such ratoration or repair is economicaqy feuible and the socurity of this Mortgage is not tliueby impaired. If suc6 ratoration or repair is not economically feasible or if the sccurity of this Mortgage would ; ; be impaired, the insuranct pracoeds s6a11 be applied to the sums secured by tWs Mortgage, with the excess. if aay, paid ~ ' to Borrawer. If the Property is abandoned by Borrower. or if Borrower fails to respond to I_ender within 30 days from the - ; ~ date noticx is mailed by Lender to.Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender 4 is authorized to colleet and a the incurance oooeds at Lender's o ~ PP1Y pr ption ather to c~toration or repair of the Property ! or to the wms securod by this Mortga~e. ; y Unkas Lender and Borrower otherwise a ree in writin , an such a I~cation of roceeds to nnci shall not eactend ; ~ or postpone ihe due date of the monthly installments referred t in par~agraphs 1 and 2 hereof or c ~ the amount of ~ a wch installraeots. 1f under puagraph-18 heroof t6e Property is acquired by l.eoder, all rig6t, titk and interest of Borrower ~ ; in wd to any iasuranoe poticies aad in and to the proceeds thereof resulting from damage to the Property prior to the sale ~ ; or acquisition shall pass to Lsnder to the eatent of the suau securod by this Mortgage immodiately prior to suc6 sak or ~ ; ' f. laservado~ a¦d Maioteaance oE Property; I.ea9e6old~ Condomiaium~ Planned Uait Derdopments. Borrower ~ shaU the Pro m ood re ; k~ep periy g pair and sball not comipit waste or permit impairment or deterioration of the Property - and s6al) oanply with the provisiona of any kase if this Mortgage is on a leaschold. If this Mortgage is on a unit in a ~ ~ condominium or a planned unit developmeat, Borrower s6all periorm all of Borrower's obligationa under the declaration ti or covwants creatiug or goveraing the condominium or planned unit development, the by-Iaws and regulations of the c~ndominium or plannod unit development, and constituent documents. If a condominium or plannod onit developmeat ; rider is executod by Bomower and rocorded together with this Mortgage. the coveoants and agreements of such rider shall be incarporated into and shall ameod and supplement the covenants and agreements of this Mortgage az if the rider - wa+e a part hereof. - 7. rro~erlio~ ot I.eader's Sec~. If Borrower fails to perform the oovenants and agreements contained in this ~ Mortgage, or if any action or proce~ing is commenced which materially aficcts l.ender's inteccst in the Property, ' including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a ~ ~ baaf~rupt or dec~det~t, then Lender at l.ender's option, uQon notice to Borrower, may make such appearances, disburse such ~ wms and take auch actioo as is nxe.ssary to protect Lenders interest. incloding, but not limited to, disbursement of ` ' rqsonable attomty's foes and etitry upon the Property to make rcpairs. lf Lender required mortgage insurance as a : coodition of making tbe ioan secured by this Mortgage, Borrower shafl pay the premiums required to maintain auch ~ i~nurance in eHect unul such time as the requirement for such insurance terminates in accordance with Bormwer's and ~ 3 ~ E ~ ~ r ~ ~ E--~ ~50 fi~i 5 ~ , _ ht Y y.+3~1iy _ . t ~ . 3 y ~ s~~~~~~v~~.~~,.~~~~ ~ ~