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Home My WebLink About0545 UN~on~t Oovawsrrrs. 8orrower and I,etxk~ covenant and agra u(allowa: l. ~j~eN of teLclMl ~i Werat. Borrower ~ali p~omptly pay whe~ due the principal of and interest on the iadebtednea evideooed bp tbs Not0. p~yment and late charges u providod in the Nate, and the principal of and inte~est oa aoy Futw~e Advaaoes ~ecured by tha Mortjaae. 2. l~r¦i~ toe Ta~~s a~i Lr~aK~e. Sbbject to applicabb law oc to a vimttan waiver by Lender. 8ormwer shaU paY to I.eader on the day monthip iastalimenb of principal and interest aee payabk.under the Note. until the Note is paid in full. •+um (6arciu "Fundt'9 equal to oaatwdith of the yearly tazes and sue~unents which may attain prioriry over this 1Kortjaje. and ground reab oa tLe Property. if my. plus oaatwelhh of yeuly premium inatallmenb for hazard insurana. plw ooe-lwdith of yeuty pe+anium installnoe~ts for mortgsga insursnce. ii ~ay. all u reasonably ~stimated initially and from time W t~me by Leader oa tbe basis ot assasmeats and bilis and reasonabk estimata the~eof. 'Ibe ~tnds shall be bdd in an institution the deposita or accounta of which aro insured or gvaraateed by • Fedenl or , staLe a~eacy (includins I.wder if Le~der is such an iastitution). Leader shall apply the Funds to pay said taxes, u~smeats. iu~uranoe pl+aoiums aad:mund reats. Lender may not cbarge fo~ so holding and applying the Funds, analyzing uid acoount, or verifyit~ aad oomqlins said aasessmenb and bills. unku L.endar pays Borrower interest on the FLnds and applicabk law permits Lender to make such a chuge. Bormwer and i.enckr may agrce in writing at the time of execution of this Mortaare t6at iatet+est on the I~~ids shall be paid to Horrower. and unless such agrcement is made o~ applicabk law requira such iaterest to be p~ud. Lender ahall not be required to pay Borrower any interest or earnings on tbe Fuads. Lender a6aU give to Borrower. without cbuge. an annwl aooounting of the Funds showing credits and dcbits to the Funds and the purpoae for ~rhich ach debit to the Fuads was msde. The Fund4 are plodgod as additioaal security for the sums securcd by tha Mortp~e. ~ ~ - If tbe amount of t6e F~ held by Lender, together with the future monthly installmeata of Funds payabk prior to the due dates of ta~tea. asa~smeats, insurance premiums and ground rents, shall exoeod the amount roquirod to pay aaid taxes. aaewneats. in:uranoe preao~iums and grou~d ra~b as they fall due. such excess shall be. at Borrower's option. either prumptly repaid to Bomower or credited to Borrower on monthly installments of Funds. If tl~e amount of the Fu~s hejd by I.eoder shaU not be w~icieat to pay tues. a~sments. insuranve.premiums and ground rents as they fall due, Borm~rer sball pay W Irender any amonnt neoessary to make up tbe deficiency within 30 days from the date notice is maikd !ry I.eadec to Bomovver requatin8 Wyment thereof. UP~ P~Y~ in fop of all wms ~ecured by this Mortgage, Lender ahaU PromptlY refund to Borrower any Fun~ held by I.eader. If under paraarap6 18 hereof the Property is soid or the Property is otherwise acquired by Lender, Lender - a6a11 apply. uo later than immediately prior to the sak of the Property or its aoquisition by I.ender, my Funds held by L~eader at the time of appUcation as a ct+edit agaiast the sums secured by this Mortgage. 3. .A~iicatiei at ~a~eab. Unless applicabk law provida otherwise, all payments roceived by Le~tder under the Note and paragraphs 1 and 2 beceaf shall be apPliod by Lender first ia payment of amounts payabk to Lender by Borrower under paraaraph 2 heroof, thea to interest payabk on the Note. then to the principal of the Note. and then to interest and P~+P~ on any Futu~+e Advano~. 4. C~ IJea~. Borrower sball pay aIl taxes. aaessments and other charges, flnes and impositions attributabk to the Pt~upe~ty which may auain a priority over thia Mortgage. aad kasehold payments or grouad i+ents. if any. in the manner provided ~mder puagraaph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directty to t6e Wy~ee tM.~of. Bormvra shall P~P~Y furnish to Lender all noticat of amounts due under this paragraph, and in the eveat Bormw~er s6a11 make paymant direcdy, Borrower shall promptly furnis6 to Lender reoeipts evideacins snc6 payments. Borr~ver s6aU promptlyr disc6arge any lieo which has priority over this Mortgage; Providod, tlwt Bomowa shall not be _ ~equirod W diac6arge any such lien so long as Borrower ahall agr~oe in writing to the payment of the obligation ucured by _ sucb liea in a manncr sooeptab~k to Leader, or shall in good faith rn~test auch lien by. or defa~d eafo~t of :uch lien in, kaal prooeodiags which operate W prevent the enforament of the lien or focfeitura of the PropeKy w any part thereof. S. Ha~~1 I~a~ Borrower s6all lceep the improvements now eacistina or hereafttr erected on the Property inwrod agaia~t loas by S~+e, hazards inclacied wit6in the term "extended coverage••, aad wch other 6azaids ss Leader may roquire and in such amouna and for wch pedods as l.ender may nquire; Provided, tl~at Lender shall uot require that the unouat of suc6 coverage exoeed tbat amount of ooverage required to pay the surtu socured by this Mortgage. ZLa iawrsnoe curier providiag tbe iasurance shall be chascn by Bortower subject to appmval by I.ender, provided, that wch approval abaU not be uoreasonabty withheld. All premiumt on inaurance policies s6all be paid in the manner . provided ~ paragrap6 2 hereof or, if not paid in such .manner, by Borrowa makiug psymeat, whe~ due, dit+ectly to t6e inwranoe carrier. ; All 'ms~,:ax ~:~es and renewals theroof shall be in form acoeptable to Lender aad shall include a standard mortgage i clau:e in favor of and in form aoceptabk to Lender. Lender shall have t6e right to hold t6e policies and renewals thereof, ~ and Bornower shall promPtly furnish W I.ender all rcnewal aotic~es and all raoeipts of paid prerniums. In the event of loss. Borro~wer shall give prompt notice to the irauranoe carrier and !_ender. ~ Lender may make proof of loss if not made promptly ~ b,? Bomo~va. Unkas Lenda and Borrower otl~erwise sgroe in writing, insurance proceeds ahall be applied to raWratan or rq>air of the Property damaged. Provided wch restoratioa or repair ia economically feasibk and t6e secwitjr of this Mortgage is not thereby impaind. If suc6 restoration or repair a not eoonomically feasibk or if the security of this Moctgage would be impaired, the iawranoe prooeeds shal! be applied to~ the sums secured by this Mortgage, with the excess, if any, paid to Borrower. If the Praperty is abandoned by Borrower. or if Borrower fails to respond to Lender arithin 30 days from t6e date notice is maikd by L.uider to Borrower that the i~surance carrier offets to settle a claim for i~uranoe beoe6ts,.La~der is autborized W oolkd and apply the insurance prooxds at l.ende~~ option either W nstoration or repair of the Properiy or w tLe s~ aecund by this Mortga~e. . Unkss Lender and Botrower otherwise agrce in writing, any such application of proooeds to principal shaq ad exteod or patpone the due date of the monthly installments referrod to in paragraphs 1 and 2 hereof or change the amount of s~h installments. If onder paragrap6 18 6ereof the Propeity is acquired by I.eader, all right. titk and intec~est of Borrower ~ in and to any iasurance policia and in and to the proceeds theroof resnlting from damage to t6e PropertY prior W the sak or aoquisition s6a11 paas W Lender to the extent of t6e sums socurod by this Mortgage immediatdy prior to such sak- or ~ • f. hexrratb¦ aoi Mai~teaa~ce eE Prope+tl"+ I.e~ebold~ Coadomiai~ Pfa~ed U~it De~dopoeNs. Borrowcr sball k~eep the Property in $ood repair and s6aU not com~pit waste or permit impairmeot or deterioration of the Property ~ and shall comply with tbe provisioos of any lwe if tbis Mortgage is on a kasehold. If this Mortgage n on a unit in a ~ condomini.um or a plaunod unit development, Borrower shall pedorm all of Bomower's obligationa under the declaration i or cov~enanb c~eatina or governing t6e condominiwn or planned unit devebpment, the by-laws and regulstions of the eoodomenium or planoed unit development, and coastituent Jocuments. If a condominiwn or planned unit development ' rider is exxuted by Horrower aod r~oorded together with this Mortgage, the coveoants and agreements of such rider : s6a11 be incorporated into and ahall ainead and suppkment the oovenants and agreanenta of this Mortgage as if the rider 3 w~ere a put hereof. . ~ 7. rnlectio~ ot I.eaie~'a Secsrity. If Borrow~er fails to perform the covenants and agreements contained in this ~ortfa~e, or if aay action or prooeeding is coromeocxd which materially at~ects l.ender's interat in the Property, ~ocludina. but nd limited to, eminent domain, insolvency, code enforcement, or arrangements or pruceedings involving a b~olccupt or deoedent, tbea I~ender at Leader's option, upon ootioe to Borrow~er, may make s~ch appearances, disburse such wms and talce we6 sction as it neoes.wy W protoct Lender s inte~eat, including, but not limited W, disbursement of reatooab{e attomey's fea and entry upon the Property to make repairs. If Lender roquircd mortga~e insuranoe as a coadition of mating t6e loan sxured by thi: Mortgage, Borrower shall pay the premiums required to maintain such imiusooe in effect tmW wc6 time as the requirement for such insurance terminates in aoc~ordanve wit6 Bormwer's and ~ . ~ ~ ~ dR ~ BooK 273 P~~E 542 ~ . _ _ - - . -