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Home My WebLink About0871 Ut+trou~t OoveriAt~rs. Borrawet aad Lender cove~ant and agra as toUows: ~ • l. l~sN of lei~e}~I a~i l~fsraf. Borrowe~ ahall Prompti) psY when due the principal of snd iaterc~t on the iadebtedaea evidenoed by tbe Note. prepsytnent and late cF~rges as provided in the Not0. and the principal of and inte~+est • oa my Futuro Advanoes secured by this Mortsa~e. 1!`i ter 7~z~ a~i Ld~ra~ca Subject to applwabk law or to a written waiver by I.ender. Borrowe~ shap paY W Leader oa tho day moathly iratallments af principal and intcrest irc payabk unde~ the Note, u~til the Note is paid ~n full, s sum (bereia "Fundt'~ equal to oae~twdith ot the yea~ly taxcs and assessme~ts which msy attain priority over this Mort~e. and `round re~b on the Pe+operty. if any. plus ocx-twelfth of yea~ly premium installments for haurd inwrance. plus o~~-tvrelfth of yearly pn~anium iastallmentt for mortgsge insurance. if any. all u~sonably estimated initially and from time to time by Leadar oa tl~e buis oI assessments and Mlls and rcasonabk estimates thereof. . 'Ibe Fudds ahall be beld in aa inatitution the depoaits or accounts of which are i~aurod or guaranteed by a Federal or staLe a`ency (iacludina l.ander if Lender is such an institution). t..ender shall aPp1Y the Funds to pay said taxes, ~u~sments, ~asuranoe premiwr~s and ~rout~d rents. Lenckr may not charge for sc~ holding and applying the Funds, analyzing said account, or verifyia` ud compiling ~id sssasments and bills. unkss l.eader pays Borrower interat on the Funds and aPplicable law pecmib Laider to make such a chuge. Borrowe~ aud Lender may agrce in writing at the time of execution of t6is Mortga~e that iater+at on tbe Fuods shall be paid to Bomower, and unless sucb agrament ia made or applicable law requira wch int~eat to ba paid. Lrender shall not be required to pay BoROwe~ any interest or earnings on the Fu~ds. Lender sball pve W Borrower. wit6out charge. an annual aco~unting of t6e Funds showing credits and debits to the Funds and the putpote for whid~ each debit to tLe Fundt was made. Tbe Funds arc pledged as additional security for the sums secured i ' by this Mo - ~ If the atmount of the Funds l~eW by Lender. together weth the future monthly installmeats of Funds payabk prior to ~ tbe due dat~a of ta~tes, as~smonts, iasurance premiums and ground cents. shall exceed the amount required to pay said taxes. J assaaaeats, it~unnoe premiums and ground rents as they fall due. such excess shall be, at 8orrower s option. either - } pranplly repaid W Horrower oc crodited W Borrower on monthly installments of Funds. If the amount of the Funds f heW by I.ender shaU not be stdBcieai to pay tazes, assessments. insuraaoe premiums and ground rents as they fall due. ; Borro~wer sbal! psy W Leader any amount aecessary to malce up the deficieocy arithin 30 days from tl~e date notice is mailed by I.mder w Bomowa ra1~148 P~Y~t tberoof. Upoa payinent in fuU of a!1 sums secured by this Mortgage. Londer shall promptly refund to Borrower any Funds ~ heW by I.ander. If ua~kr paragraph 18 hereof the Property is sold or thc Property is otherwise acquired by Lender, Lender aball appty, no later than immediately preor to the sak of the Property or in aeqaisition by Lendcr, any Funds held by Lende~ at tbe time of application u a credit agaiast the sums secured by this Mortgage. 3. A~tlcatior af tq~e~ts. Unkss applicabk law provida otherwise. all payments receivod by Lender under the Note aad parsgraphs 1 aod 2 bereof afiall be applied by Lend~r 6~st in payment of amounts payabk to Lender by Borrower under paragraph 2 hereof, tl~en to intercst psyabk on the Note, then to the principal of the Note, aad then to interest and princip~! on any Future Advanas. , _ C~ Lk~s. Bortower shaU pay all ta~ces. assessments and other charses, fiaes and impoaitions attributable to ,tbe P[ope~ty wl~ich tpry attain a priority over this Mortgsge, aad lea~ehold payments or ground reats, if any, in the manner provided uader piragraph 2 heroof or. if not paid in such manner. by Borrower making payment, wha~ due, directly to the payee tLereof. Borrower a6a11 promptly.furnish to Lender all aotices of amounts due.uuder this paragnph. and in tha eveat Bort~ow~er shall make payment direcdy, Borrower shall prompdy furnish to I.ender receipts evidenciug sueh payments. Borrower sl~all pmmplly diac6arge any lien which has priority over this Mortgage; pmvided, that Bomower shalt not be c~equired to di~charge aay such lien so bng as Bocrower shall agroe in writiag to the payment of the obligation sccurod by - ; such lien in a manner aooeptaWe to I.ender, or shall in good faith contest such lien by, or defend enfo~+cement of auch lien in, ~ kgal proceedings which operate to prev~ent the enfo~+cenunt of the lien or forfeiture -of t6e Property or any part thereof. S. Hmrd l~rska Boirower aLall ketp the improveaxnts now existing or hereafter erecled on the Property iosurcd againit loss by S~+e, bazards included within the term "eactended coverase••. and suc6 othe~_ haueds as I.eader may require - and ia wch arnounts and for wch periods as Lender may require; provided. that Lender shall not require that the amount of wch ooverage ea~oeed tl~t unount of coversge required to pay the sums secured by this Mortgage. Tbe inwraox carrier providing the inswanoe shall be chosen by Borrower wbject to approval by Lender, provided, that wch appcuvai s6all aot be u~onably with6eld. All prcmiwns on insurance polisies shall be paid in the manner prrnridod w~der paragraph Z hereof or, if not paid in such manner. by Borrowu malcin8 paymeat, w6a~ due. dirxtly to the i inwnna carria. All inwrance poticies and rp~ewala thereof shall be in form acceptabk to [.ender and shall irtclude a standard mortgage j clatae ia favor of and in fotm acoeptabk to Lender. I.ender shall have the right to hold the policies and r+enewals theroof. ~ and Bomnwer ahall promptly furnish to Lender all renewal nouoes and all roceipts of paid pmmiums. In the event of loss, Bormwu shall give prompt notioc to the insurance carrier aad Lender. Lender may make proof of ba if not made promptly by Borrow«. . Unkss Lender aad Hoaower otherwise agrce in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, provided such restoration or repair is econanically feasibk and t6e sec~uity of this Mortgage is nM thereby impaired. If such restoration or repair a not economically feasibk or if the sxurity of this Mortgage would be impaired, the inwranve proceeds shall be applied to the sums secured by t6is Mortgage. with ihe raccess. if any. paid w Borrower. If the PropeRy is abandoned by Borrower, or if Borrower fails to respond to I.znder within 30 days from the date notioe ii maile~ by Lendsr to Bomower that tbe iusuraoce carrier offers to settle a claim for irauraaoe bene6ts~ I.eoder ~ autboriud to oolloct and apply the iasurance prooeeds at I.cnder's option eitber to restoraUOn or npair of tt~e Property : or to the wms secund by this MoAg,~ge. Unkss Lender uid Borrower othetwisa agree in writing, any such application of proceeds to principal shall not extend or po~tpone tbe due date of the monthly installments referred to in paragraphs t and 2 heroof or ~hange the amount of wch iastaUments. If under paragrap6 18 bereof the Property is acquired by Lender, all right, titk and interest of Borrower - in and to any iasuranoe policies and in and to the proceeds thereof reaulting from damage to the Properiy prior W the sale or a~oqnisition shall pass W L,eoder to t6e exteut of the wms socured by t6is Mortgage immediately prior to such sak or aocluit+tion. = f. h~eaenatlo~ a~i Ma~te~a~ee of Propecty+ I.ea~elald~ Coodomjoiamx Tlan~ed U~k De~dopwe~tr. Borrower ~ ~ha1! keep the Property in good repair and s6all not comWit waste or permit impairment or deterioration of the Property and sbaU comply wit6 the ptovisions of any kase if this Mortgage is on a kaaehold. If t6is Mortgage is on a uait in a condomipium or a planned unit developroent, Borrower shall pedwm all of Borrowers obfigatia~s under the declaration or coveaanb creatina or gov~eraing tt~e condanioium or planned unit development, the by-isws aad ngulations of the condomini~n or planned unit development, and coostituent docwnents. If a condominium or planned unit development } rider is e~~acuted by Bomower and rocorded to~Uher with this Mortgage, the covenants and agreements of such ridcr shalt be incorporated i~o aad sha~1 amead and wppkment the coveoants and agreements of this Mortgaae as if the rider w~aa a put bcceof. 7. lerleetb~ ot I.e~ie~'s Secrrity. If Borrower fails to perform the ooveaants and agramenb contained in this Mort~e. ur if any aqion or prooeeding is commenixd which materially aHects Lender': interat in the Property. includina, but oot limited to, aninent domain, insolvency. code enforoemen~ or urangements or prooocdinga involving a b~atrnpt or deoeda~t, tbeu I.tader at i.eoder's option, upoa notice to Borrower, may malce such app~earan~, disburse wch wms and talce such action as is nooes,wy W protoct i.ender's inte~est, i~luding, but not limited to, disbur:ement of ~+atooabk attome~s fea and entry upon the Property W make repairs. If Lender -rrquired mortga~e insurance as a a~ondition of matiaa t6e loan aecured by this Mortgage, Borrower shall pay the premiums required to maintain wch ioannoe in eHect unt~ wch tnoe as the requireroent for such iraurance terminates in accordance with Borrower's anci ~ ~aK2?~ ~ 87~0 - -