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Home My WebLink About0752 • , Uxtro~uc CovcHet+ts. Botro~rer and Leader cover~ant and sgree u tolbw~: 1. Paraeat ot Tcindpal aad Inte~ert. Borro~?et shaU pm~nptly pay ~?hca due thc prindpal ot and intereu on thc f iedebtc~lnas evidenced br the Note, prepayu~ent and- late charga as provided in the Note. and the priacipal ot and iater• ~ , . , . • • !••r. Adwancea ~ecured br thi~ Mort~age. ~ i 4. fl~ada ia~ Ta~ aod Luiuana. Subject to appliable law ot to a written waiver br Lenda. Borrorrer ~hall y to Lender on tt?e day monthly inuallments oE priacipal and intera4 ~ p~rible unda the Note. uaeil the Note is pi in tutl, a wm (herein "Funds'~ cqw~l w or~e-tweltth of the yearly wca and auasmena .vhich may attain priotiqr over this Mortgage. snd around rents on the Property. it any. plw oao-tweltth oE yearly pmuium installme~u [or haurd insuraaoe. plus onat~veltth ot YeulY pmnium installmena [ot mortgage insurana. iE any. aU as reasonably cstiatated initially aad Etom . cime co cime by Lender on the ba:is of assessments and bills and reasonable atimata therrof. The fl~nda shall be heW in ~n institution thE depcaits or aaouots oE which are inwred ar gwtantecd by a Fedual or state agency (including Lender iE lxnder ~ wch an iratitutio~). I.endet shall apply the Funds to pay uid taxa, asuuaneats. insurance prem~iums and ground nnts. Leadtr may not charse [or w holding and applying the Fu~ds. :nalyzing uid u• count. or varitping and oompiliag aaid as~asments and bilk. unleu I.eader pays Bormwer interest on the Funds and ap~ plinble law permits Lender to make wch a charge. Borrower and Lender may agree in rvriting at the eime o[ acecvtion ot chis Mortgage that ineerest on the Fu~ds shall be paid to Borrower. and unkss such agreement is made or appliuble 1z~r ~ requira wch inttrest to be paid. I.ender shall not be required to pay Borrorrer any interat or tarnings on the Funds. I.endet ` shall give to Borrower. without chuge. an an~ual aaounting o[ the Funds showing crediu and debits to the Funds ar~d the purpose for ~rhJch ach debit to the Funda ~ru made. The Funds are plcdged u addieional security tor the sums secured by this Mon~age. If the anaunt oE the Funds held by Lender. together ~vith the future monthly insallueents of Funds payable prior to the due data of wces. assessments. insunnce premiums and ground rents. shaU exceed the awount required to par said taxes, assessanents, insunnce pmniums and ground tentt u the~r [all due. such excess shall be, at Borrower s option. either pmmpdy repaid to Borrower or aedited to Borrorver on monthly inatallments oE Funds. I[ the amount ot the Funds held by Lenda shall reot be su[Eicient to pay taxes. assasaQents. insunnce premiums and ground rents u the~r faU due, Borrowet shall par to Lender any aaaunc necessary to make up che detideacp rviehin 30 days fmm ehe daee noeice is uuiled bv Lender co Borro~?er requeating payment ehereoE. Upon payment in [ull of all sums secured by this Mortgage. Lender ~all prompdr reEund to Borro~er anp Funds held by Lender. If under paragraph 18 heno[ the Properq is sold or the Property is otherwise acquired by I.ender. Lender , shall apply, no later than immediately prior to the sale o[ the Propeny or its acquisition by I.ender. any Funds held by Lender at the time of appliation u a credit againu the sums secvred by this Mortgage. 3. Applkatioa of PaYmenu. Unless apRlicable la~r provida otherrvise. all payments received bq Lender under the Note and paragraphs 1 and 2 hereo[ shall be applied by Lender first in payment of amounu pa~rable to Lender by Borrower under puagnph Y haeof. then [o interest payabte on ehe Note. then to the principal of Lhe Note. and. then to i~taat and prinap:l on any Futnre Advanas. Charger Liens. Borrower shall pay all uxa, asxssments and other charges. tina and impositions actribuubk to the Property whith may attain a priotity over this Afortgage. and leisehold payments or ground rents, if any, in the man- ner pro~ided under pangnph Y hereo[ or, it not paid in wch mannet. by Borrorrer mtaking paymeot. when due, direcdy to che pa~rce thereof. Borrower shal! prompdY [urnish to I.ender all notica oE amounts due under this pangnp6. and ia the eatnt Borrower ah~ll make pa~nnent direcdy, Borrower shall promptly turnish to Ixndet teceipts evidencing such payments. Borrower shall promptly dischuge any lien rvhich has priority o~er ehis ~iongage; provided. that Borrower shall aot be rc~ quired to dixharge any wch lien so long as Borrower shalt agree in writing to the payment ot the obligation secuted by such lien in a manna accepubte to Lender, or shal! in good tai[h contest such lien by. or de[end enforament of such lien in. lo- Ral praeedings ~vhich operate to prevent the enforceanent of the lien or for[eiture oE the Property or any part thereof. 5. Hanrd Inw~rana. Borrorrer shall keep che improvemepts nor~ existing or hereafcer erected on the Propert~r in- sured against loss by fire, huards included wichin the term extended co~erage". and such other hanrds u Lender m:y re- quire and in suth amounu and far such periods as I.enda may require; proveded, that Lender shall not require that the amount of such c»venge acceed that amount of rnverage required to pay the sums securcd by this Mortgage. "The insurance urrier providing ehe insurance shall be chosen by Borrower subjece to appmval bp Lender: provided. , that ruch approval shall not be unreasonablr withheld. All pretniums on insurance policia shall be paid in the tnanner provided under puagraph 2 heteof or. if not paid in wch manntr. br Botzower making paYment, w+hen dut, direcdy to t6e insunnce carriet. ~ AU insuranct policies and rentwals thereot s6a11 be in [orm aaeptable to Lender and shall inctude a standard mort- gage clause in favor oE and in [orm acceptable to Lender. L.ender shall have the right to hold the policirs and rentwals thereof, and Borrower shall psompdy Eurnish to Lendet ill renewal notices and all receipts oE paid premiums. In the event of loss, Borroatr shall give prompt notice to the insunnce catrier and Lender. Lender may make proof of loss iE not mad~ promptly by Borrower. Unleu Lender and Bortower othenvise aqrce in writing, insurance ptoceeds shaU be applied to mtoration or repair ot che Property damaged. provided such rtstontion ot repair is economically feasible and the security of this :~iortgage is not thereby impaired. If wch racoration or repair is noc economicallr [easible or iE the secvrity of this ~~ortgage would be im- paired, the insurance proteeds shall be applied to the sums secured by this 1?iongage, with the t~coess, ii any, paid to Bor- rower. IE che Property is abandontd by Borrower, or if Borrovrtr fails to rapond co I.ender within 30 dars Erom the dace notice is mailed bY Lender to Borrowet that the insunnce carria o[[en to settle a daim for insurance benefits, Lender is i authorized w mllect and apply the insurance proceeds at Lendti's option either to ratoneion or repair of the Properq or ~i co the sums sttund by this 11longage. f Unless Lender and Borrower otherwise agree i~ ~?riting, any wch application of proceeds ~o principal shall not extend i or putpone the due date of the monthly installments reEetred to in panpraphs 1 and 2 hereof or change the amount of suth ~ installment~. If u,nder paragraph 18 hereof the Property is acquired br Lender. all right. tide and incerest oE Borrov+er in ; and to any inaurance policia and in and to the proceeds thereoE raulting from damage to the Property prior to the salt or ' acquisition shall pus to I.ender to the extent of the sums xcvred by this 1lortgage immediately prior to such sale or acquisition. - - - - 6. Preserration aod Mainceoance of Propert~: I.ra~eholda; Condaninium~ Planned Unit De.wdopments. Borrovver sl~all keep the Property in gaod repair and shall not commit ~aste or permit impairmen[ or deterioncion of che Property and shall comply with t6e provisions ot any lease if this Mortgage is on a Ieasehatd. I[ this Mortqaqe is on a unit in a mndominium or a planned unit de~elopment, Bomower shall perform all of BorrDwers obligations under the declantion or rnvenanu aeating or govc~rning the condominium or planned unit development. ehe br-laws and regulations ot the mndo- minium or planned unit development, and mnstituent dotuments. If a condominium or planned unit development rider is atetuted by Borrower and retordeci toqethet with this Mortgage, the rnvenants and agreements oE wch rider shall be in- corponttd into and shatl amend and supplement the corenanu and agreemtnts o[ this Atortgage as if the rider were a pan hereof. i 7. Protettion of I.tada's Stcuriq. If Borrower faib to perform the covenanu and agreements containcd in this ~ Mortgage, or if any action or prateding is comonenced whith materially aftects Lender's interat in the Property, including. ' ~ bu[ not limitcd eo, eminent domain, insolvency, code tnEorcoment, or amngements or proceedings involving a bankrupt ~ or decedenc, then' Lenda at Lender's option, upon nodoe to Borro~?er, nuy make such appeannca, disburse such wms ~ and ~alce wch action u is necessary to protect Lendet's interest, intluding, but not limited to, disbursement of rta~onable I attorneYs [ees and entry upon the Property co make repain. If Lender required mortgage insunnce u s eondition of making the loan secured by this Mortgagr, Bortower shal[ pay the prrmiams required to maintain such insurance in eE- [ecc until wch time u the requireraene for such insurance terminata in accordance with Borrower's and I.ender's written ~ ~I ~'^t~~~r~ ~