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Home My WebLink About0109 Uxtra~t CovrHaxts. Borro~rer and I.eader covenaat and ag~~ee u Eollo~: l. tayiaent af Mndpal aad Incerew. Borrower sha11 prompciy pap Mhep due the priadpal .of.aad Incerac on t~ indebtednea evideuced b~ the Note, prepayment and late chuga u provitled in the Note, and the pn~dpal oi aad intet~ at oa any l+hture Advauta ~ecured by this Mortgage. ~uds to~ Taap aad Iowuanoa Subject to applicable la~ or to a~tte~ ~vaiva~ bp Lender. Borm~ver sl?aU pa~ to Leadet oA t6e da~ montbly installmenu ot principal and intereu are papabk undcr.the Note, until tbe Note is paid in iull, a sum (hereia "Fands'~ equal co on~?twel[th oE the pearlr wca aad auasmenu Mhich may atain prioriry over this Mortgage. and ground re~ts oa the Property. iE anr. pluf oaatwelfth oE ~rearl~ premium installments for hazard insurana, plus one-t~velft6 of ytarly Premiuan installmeot~ [or mortgage insuranoe. ii anr. all u rasonably atimated initiallJr aad from time w time bJr Lendet on the basi: oE a~es~meats and bi11s and reasonable atimata thereoE. The ~ads ~lull be held i~ an in~titut'an the deposits or aooouats of whkh are inwred or~guaranteed br a Fedual or state agencp (iacluding I,ender it Lcnder b such aa imtitutivn~. Lender shaU aPPI~' the Funda to pay said uuca. asussments. ;nsurance pcemiwns and around re~cs. Lender msy not charae for a lwldina and applying che Fund~, anal~rung said u c+oun~ or verifyin~ and aanpiling ~id as~asmena and bii4. unles~ Le~der pays Borro~rer i~terat on the Funds and ap~ plia~ble la~r petmits Leadet to make wch a chuge. Borrawez and I.ender may agree in ~rriting at the time oE execution of this Mortgage that interat o~ the Funds shall be plid to Borro~?tr. snd unle~ such agrcement is made or applicabk laa requires wch inter~t w be paid. Lender s6a11 not be required to pay Borrorva anY intetat or earain~ on the Funds. Leader _ shati ~ive to Eorro~rer, rrithout chuge, an annwl aaoounting oE the Fun~ showi~g credits and debits to the Funds aad the purpose for which each deb[t to the Funds was made. The Funds are pleciged as additional xcurity tor the auas sec~rcd by this Monaaae. ' ~ If the amonnt oE the Fuads held b~ Lender. together ~vith the tnture monthl~r inuallmenu oE Funds payable priar to the duc data oE taxa. aseasments. insurance prewiums and ground rent~, ~all acoced the unount reqnired eo pay ~aid wca. as~amneaa. insunnae premiums and grouad rents as t6ep Eall due, auch acaas shall be. at Borro~rer3 option, eitha P~P~ nW~ tO $OnOpa °r ucditcd w Borro~ra on moathly ~iiutallments of Fands IE the amount of ehe Funds held b~ Leader s6aU not be su[ficient to pa~ wca, as~sments. iravrance premiwm snd gzound rents as thc~r faU~due. Borrarrer shall par to Lender anr amount neceasar~ to make up the deficiene~ ~rithia 30 days [rom the date notice u mailed b~ I.ender - to Borrowet requatina Wpment tleereof. - UP~ Pzl~t in fnll of all aims secvred b~r this Mortgage. Lender ihall prompd~r refund to Borrower any Funds held bp Lendu. IE under paragraph 18 htreoE the Propat~ i: sold or the Pcoperty is othenvise acquired b~ Lenda, Lendrr ahall applr. no later than ummed'utely prior w ehe de oE the PropatY or its acquisitioa by Lender. any Funds held b~ Lender at the time of application as a aedit agiinst the wms secured by this Mortgage. 3. Application oE Pa~mena. Unlas applicabk laMr provida other~vise. all pxYments reoeived by I.ender under the Note and puagcaphs 1~end Y haeaE shall be applied by Le~er tirst in pa~rment of amouncs pa~able to Let~der by Borro~ver under paragraph Y he~tof, then to interest papabk on tl~e Nou, then w tlie prindpil of tl~e Note, and then to intaat and principal on aay Fature Advanca. 4. C~r~e~ Liena Borrower ~all pay all taxes. assenmeats aad otha durges. fina and impositions atcn'butable to tbe Propeny ~rhich ma~ atuin a prioriq ovet this Mortgage, and leasehold payments ot ground rents, if any. in the man- _ ner provided undar paragraph Y haeof or. if noc piid in wch manner, by Borrwver making pa~rmene. ~vhen due. directl~ w ti~e pa~ree thereoL Borroner shall ptompdy futnish to Lender_all notioa oE amouna due unda this patagraph, aad in the evtnt Borrower shall make pa~ment direcdY, Borroaer shall prompdy turnish w Lender teteipts evidendng suth pa~rmena. Borro~ver ~hall pro~pd~ dixhuge any lien ~rhich h~ preoriq orer this Mortgage: provided. thac Borro~rer s6all rwt be re- quited to diacharge any auch lien so long u Borrower shaU agrce in w~riting to tLe payme~t of the obligation secvred by such lien in a manner aoaptable to Lender, ot ~all in good faith contat such lien br. or defend enEorcement of auch lien in. la gal proocedings ~rhich operate to prtvent the enforcemeat of the lien or forfeeture oE the Propertr or my part thereof. 5. Haard Inwuanoa Borm~rer ahall teep ~he improremenu am~r acu[ir?S or herea[ter uocted o4 tbe Properq in- sured against loss by Eire. hazards iocluded witt?in che ttrm "excended mrenge". and such other hazards as Lender mar ra _ cry;re and in wcb amouna and for such periods as Lender may require: providod. that Lender shall ~wt require that the amount oE such auverage accoed chat amounc of ooverage required w pa' the wms secured by this Mortgige. The ins~uanae nrrier pmviding the insuranoe :hall .be choxn by Botm~rer subjecc w approval br Lenda; pmvided. ~ thac such approval shall not be nnreawnably ~rithheld. All premiumi on insuanoe polides thall be paid in the manner r € provided nnder paragraph 4 hereaf or. iE not paid in suth manaer, by Borro~rer making papnent, ~rhen due. directl~ w the inwnnce carrier. All insurance polida and rene~vah thereaE shall be in form aooeptabk to Lender and shall include a standard mort- F gage clatue in hvor of and in form acoepuble to Lender. I.ender shalf have the right to hold the polida and rener~rals ~ thaeof. and Borrrnvtr sball prompdy fnrnish to Leader all renewal nodoa and all receipts of paid preminms. In the event oE loss. Borrower sball give prompt notice to ehe insurance carrier and Lendrr. I.ender mar make proof oE loss if noc made prompdy by Borm~?er. Uales~ Leadet and Borro+ver other~rise agree in ~rriting, iuwrance proceeds shall be applicd to restoration or repair of the pi,opetty damaged, provided such restoration ot repzir is ooonoanically feasible and the ~ecurity of this Mongage u not tbereby impaired. If auh restontioa or repair is not eoonamically feau'ble ar if the savrity of this Mortgage w+ou~ bt im- paircd, the inwrance proceeds s6aU be applied w the snms secured b~r this Mortgage. ~rith the exoess. if any. paid w Bor- ro~rer. IE the Propvq is abandoned b~ Borrmirer. or if Borrawer fails to rapond co Lender rrithin ~0 days from the dace . notioe is mailed by Lender to Borro~rer ttut the insuranee carrier offers to aeuk a claim for inwrance.benefits, Lender is authori~ed to aollect and apply the inwnna proaods at I.end~i's option either w ratoncion or repair of the Propert~ os tQ the aums setured bf this Mortgage. Unle~ Lender and Borrawer othernrise agree in writing, any sach application of proaeds to prinapal shall iat actend or po~tpone the due date of the montWy iastallmeats reEtaed w in paragraphs 1 and Y hereof or change ehe amonnt of such installments. IE nnder paragraph 18 hereof the Proptrq is uquired by Lender. all right, tide and interat of Borm~va in and w an~ insurance poliaa and in and to the pinoeeds thereof resulcing from damage co the Propercy prior w the sale or xquisition stull pass to I.ender w the excenc of the sums secured by this Mottgage immediauly prior to sach sale or ~oqwat~°°- G. traer.ation and Maincenaaoe of Pmpaq; Lea~Lold~ Gondomiaiam~ Planned Unic De~dapmenb. Bosrowrer ~all keep the Pmperq in g~ood rep:ir and shall not oommit rnste or ptrmit impairment or detaiontion of the Propaq and tball oomplp ~?ith the pmvi~ons oE an~ lr~se if this Mottgage is on a leasehold. IE this Mortgage is on a nnit in a oondominium or a planned unit development, Borrorret sball perform all of Borro~rer's obligations nnder the dedaration or oovenants Qeating or governing the aondominium or planped unit dev~elopment. the br la~n and regulatiora oE t6e condo- ~ mininm or planned nnit devebpment, and constituent documents If a condominium or planned unit development rider is acecuud b~r Borro~rer and reoordcd together Mrith this Mortgage. tbe oavenants and agreements of such rider shall be in- ~ ted into and shall amend and supplement the covenants a~ul agreements of this Mortgage u if the rider ~rere a put ~ t 7, hoeectioo oE I,eades'~ Secnriq. IE Borrawer fail: to per[otm the mvenanb and agteements oontained in this 3 Mortaage. or if an~ ution or proaeding is o~mmencod which materiall~ affects Lende~s interat in the Property. inclnding. but not limiced to, eminent domain. in~olvenq, aode enforcement, or arrangements or praeedings involving a bankrnpt or deeedent, then Lender at I.ender's optioa, npon notiae to Borm~rer, may make wch appearanas, disburse snc6 sums • and take such action as is neoestary w protect Lendds intaeu. including, but not limite~ to. disbursement ot traanable attotneys fea and entrq upon the Propertr to make repairs. If Lender reqnired mongage insurance as a aondition oE making the ban secvred by this Mortgage. Borro~rer shall pay the preminms required to maintain wch inswanae ia ef- fea until wch time as the requirement tor such insurance terminates in accordance nith Barm~ver's and Lender's ~?riuen BOa!( ~7~ PACE ~OS - - -