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Home My WebLink About0570 UNi~OiR?1 CAYlNAtiTS. 8on+wver aad I.eade~ covcnant and aj~oe sa follows: 1. ~ of lirrc~i aM Weraf. Ho~rowc~ ahall promptlY paY wFK~ due the principxl of and inten~t oo the indeMednas evidenced by ~he Nae. ptepaymeat and late char~ u p~~riifcd in ~he Note. and the principal ot ar~d interest aa any Futuro Advanca ~ecur~ed bp thia Mortsaae. l~`is hr 71aM ~ I~wn~c+e. SLbject to applkabk law or to a written waiver by I.ender. Borrawe~ shall pay to Leader on the day mootAly imtalimenb ol prirrcipal a~d interest arc psyabk unde~ the Note, u~til the Note i: paid in full, • wm (hereio "Fuuds'~ equal to one-twelfth o( the yearly taxes and assessrt~ents which may attain priorily oyer this MoHpje, and ~round rcnts oe the Property. if any. plus onc~twelt~h ot yeuly prcmium instrllments tor hazard insurance. plua ooe-twelUh u[ yearly premium installmrnb tor moAtate in:u~ance. it any. all u ressooably estimatod initially arn1 from ame to time by l.ender oa tbe basa ot ss~ecsments and bills and rcasooabk atimata thercot. 7Le I~nds slWl be bdd ia an imtitutioo the deposita or acrounts o( which are inwred or gwrantoed by a Fodenl or stato asency (iocludins Lender if Lender is such an iastitution). l.eader shall apply the Funds to pay uid tuea. sssasments. ~~uranoe pnemiums and pnund re~ts. I.ender may ncu charge (ar se~ holdina and applying ~he Fonds, analyzing said account. or ~rerityinj and oomplias uid as~asments and bilb. unlas Lender pays Borrower in~erat on the Funds ar~d applicable law paneits I,eoder to make wch a clurde. Borrower aad l.ende~ may agree in writing at the time o( execution ot this Mortpje tlut iaterat on the Fuads sha11 be pa~id to Borrower. and unkss such agreeme~t is made or applicabk Faw ~+equires wch iaterest to be paid. L.enck~ shall ~wt be tequirod to pay Borrower any interest or earaings on the Funds. I.ender sball pve to Borr~ower. witbout cl~arae, sn annual accounting ot the Funds showing crcdils and debiis to the Funds and the purpae~or w}uch esch debit to tbe Funds wu made. 'i~ Funds are plodged as additional security for the sums socurcd octia~e• If t6e amount of tbe Fundt held by Lender, toaether with the futurc momhly installments ot Funds payabk prior to the due data ot taaes. asseasm~ats. ins~rance premiumi and ground rcnts, shall e~ccsed the amount required to pay said tua. aa~ab. iatutanoe premiums and ground rct~ts as they (all due. such eacess shall be. at Borrower's option. cithcr Prompdy repaid Io Borrovrer ot ctedited to Borrower on monthly installments of Funds. If the amount o( the Funds bdd b'~? Leode~ shaU iwt be suRicient to pay tues. asxssme~ts. insurance prcmiums and ground rents as they (all due, Botrowe~ =6aU pay to l,ender any amount neoessary to make up the dcficiency within 30 days from the date notice is mailed 6ry?1~eader W Bormwer roquatiog payment tl~eroof. Upoo payme~t ia fuU ot all wms securod by this Mon~age, I.ender ~all promptly re(und to Bornower any Funds ~ held by 1.eoder• I[ undeT puastaph 18 hereof the Property u sold or the Property is otherwise acquired by l.ender. l.ender s6a11 apply. no later t6an immediately prar to the sak of the Property or its acquisition by I.ender, any Funcit held by i.eader st the time of applicatioa as a c~edit aEainst the sums securod by this Mortgage. 3- A!llieatie~ ot lq~eab. Unkss applicabk law provida othervvise, all payments roceivod by I.endcr u~Jer tho Note and pua~rapht 1 aud 2 heroof shall be appliod by l.ender Rnt in payaxnt of amounts payabk to Lender by Borrower - under parajraph 2 hereof, thea to iaterost payabk on the Note, theo to the principal ot the Note. and then to intereat and principal on any Future Advanoes. ~ 4. C~r I.k~s. Botrower shall pay all taxes, uses.unents and other charges, fines and impositions atlributabk to tbe Propetty which may attain a priority over this Mongage, and le~ehold payments or gcuund renta. if any, in the manner pr~rided under puaaraph 2 heroof or. if not paid in such manner. by Bo~rower ~eaking payment, wha~ due. dic~ectly to t6e payee theneot• Borrower sba4 prnmptly furnish to Lender all notices of amounts due under this paragraph, and in the event Borrower shatl malce payment dirocily, Borrower shaU promptly furnish to Lender rcceipts evidencing such payments. Borrower sha1~ pt+nmpUy discharge any licn which has priority over this Mottgage; providod. that Borr+ower shall not be ~eyuired to di~charge aay wch lie~ so bng aa Borrower shall agrce in writing to the payment of the obligation socured by web lien ia a roanaer aooeptabk to Lender, or shall in good faith contest wch lien by. or defend rnfonoert~eot ot such liea in. ksal pra~dinas which operate to prevent thc enforcement ot the lien or forieiture of the Propeny or any put ihereof. s• Haar~ 1~wraK~a Borrower shall koep the improvements now exiuing or hereafter erected on the Property inwrod against loas by 6re. hazards included within 1he term "extended coverage", and such other haurds u[.ender may requirc aad in such amounts aod for wch periods ss l.ender may require; provided, that l.ender shall not ra~uite that the amount of wch oo~?eraae exceed that amount of coverage roquired to pay ~he sums securod by this Mortgage. '!be inwrance curier providing tbe inuuanoe shall be chosen by Borrower subjoct to approval by L.ender. provided, ' that wch approval shall not be unreasonably withheld. All premiums on inwranoe policia shall be paid in the manner provided under parauaph 2 heroof or. if not paid in wct~ manner. by Borrower msking payment, when due~ diroctfy to the iawraaoe carrier. A11 iawranoe policies and reoewals theroot shall be in form acceptabk to [.ender and shall include a standard mortgage ' claute in favor of and in form acveptabk to Leoder. Lender shall have the rigbt to hold tbe policia and renewals thereof, ' and Bormvrer shall pranpUy futni:h to l.eoder all renewal notices and all receipts of paid premiums. In the event of 1oss, i Bormwet shall give prompt notice to the insurance carrier and Lender. Lender may make pcoof of bsa if not made prompUy by Borrower. Unle~ Lender aod Borrower othecwise agree in writing, insurance procoeeh shall be applied to rcstoration or repair of ~ the Property damaged. piovickd such restontion or rcpair is economically feasible and the security of this Mortgage is ~ not thereby impaircd. lf such rcstoration or rcpair is not economically feasible or i( the sxurity of this Mortgage would ; be impaired. tbe insuraooe proceeds shall be applied to the sums socured by this Mortgage, with the tacess, if any. paid i to Borrower. If the Pmperty a abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the ! date notioe is mailod by l.ender to Borrower that the insurance carrier oHers to settle a claim for insurance benefits, Lender ~ is autboriud to colket and apply tbe insur~nce prooads at Lerxier's option either to ratoration or repair ot tl~e Properiy ~ or to the wms sccured by this Mortgage._ ~ Unless Lender artd Borrower otherwise agree in writing, any such application of procoods to principal shall not extend ~ or postpone the due date of the monthly installments rclerred to in paragraphs 1 and 2 hereof or change the amount of suc6 iastallmeots. If uader puagrap6 18 beroof the Property is acquired by Lender, all right, tide and intereat of Borrower ~ in and to auy iasurance policies and in and to the Qroceods theroof resulting from damage to tbe Property prior to the sale ~ or acquisition shall pass to Lender to the extent ot the sums securod by this Mortgage immediately prior to such sak or ~ acqui~it;on. . ~ f. l~esens8o~ a~ Maisteoaace ot Property; Lcasebolds; Condomiuium~ Plansed U~t De~do~meats. Borrower ~ sbail koep the PropeRy in good rcpair and sl~all not com~pi~ wute or permit impairment or_ deterioration of the Praperty aod shall comply with lhe ptovisioos of any kase if this Mortgage is on a leaxhold. It this Mortgage is on a unit in a ~ caodominium or a planned unit development, Borrower shall perform all of Borrower s obligations under Ihe declaration t or covenanb cteatiaa or governing the condominium or planned unit development. the by-laws and regulations of the coodominium or planned uait developtnent, and constituent e{ocuments. If a condominium or plannod unit ckvelopment 3 ridet is executod by Borrower and recorded together with this Mortgage, the coveoants and agrcements of such rider sball be incorporated into and s6a11 unend and supplement the covenants and agretments of this Mortgagc as if the rickr vrere a put her~eof. 7. rrolecfio~ ot Leaders See~rit~. If Borrower (ails to perform the covenants and agreements contained in this ~ Mott~ate, or. if aoy ution or proceeding is commenced which materially afT~cts Lenckr i interest in the Property, ~ includinj, but not limitod to. eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a ` b~nitrupt or de~xdent, tben l.ender at I.eoder's option, upon notice to Borrower, may make such appearances, disburse such ~ wmt and take tuch sctioa ~s it nevessary to protect l.ender s interest, including, but not limited to. disbursement of ~ € rwoasbk attorney's fas and entry upon the Property to makc repairs. It Ixnder required mortgage insurance u a ~ cooditioe of makiaa tbe Joan socured by this Mortgage. Borrower shall pay the premiums requirai to maintain such h iduraaoe in eHect unti) wch time u Ihe rtquirement for such insurance terminates in accorda~ce with Borrower s and ~ ' ° R 267 ~E 569 ~ 600K - *~-r,~- ~1~, ~~;~-.~..x~ - , - w-~~~~-"" -