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Home My WebLink About0047 ~ UNIPOR~t COVENAN7's. Borc~uwer and Le~ck~ rnvenant and agree as tollaws: 1. ~~t of tri~tlMi a~i IMerpt. Borruwe~ s~~ail pnxnptl) paY when duc the principal aod interest on 1he ~ indebtednesa ~videttoed by the Nota. prcpayment aod IatC chargec as pravided in thc Nota, and the principal ol and inttrest ~ . oa any Futun~ Advaaces secur+ed b~~ this Mangage. ~ F~~L ter Y1~:es and l~wrsace. Stibject to applicablc law ~N ta a written waivc~ by I.ender, Borrower shall pay tc? I.ender oe the day monthly i~stallment~ of principaf and intcrcct aro ~?ayabk ~mder thc Note. until tht Nole is paid in fuil, j ~ suai (hertiin "Fur~ds") eqw! to o~t~~elfth of tbe yearly taxcs anJ assasmeots which may attain priority over this Mortaage. and Sround rents on the Pooperty. if any, plus onatwet(ih of yeariy premium installmenu for hacard insura~ce. plus ~ne-twelfth of ywrly prcmiwn installments tor mongage i~sc~rance, if any, all as reasonably estimated initially and from ; time to time by Lenckr on thc bssis of assessn~cnts and hills an~ reawr?able sstimates tlx~f. ' y 'Ibe Fl~nds sl~all be he~d in an institutian tne Jeposits or accounts of which a~e insurcd or guaranteed by a F~eral or ~ state sgency (including I.~nde~ if Leode~ is such an inct~tution). 1_ender ahall apply the Funds to pay said taxes, ass~ssments. ! iasursnoe pt~emiums and around rents_ I_en~er ma~~ rsot charge for so holding and applying the Fundc. anal~~ing said account, ~ or vcrify~ng and rnmpili~g said assessments and bills, unless Lec~de~ pays BoROwe~ interest on the Funds and applicable law ; ptrr~~ii I.~ad€t ~c~ t*esEe suC~ z Cltbi~. ~~t!;t+~~r ~r+s3 ir.r.drr snay :s~en: ~n writin~ ~s ih~ :isnr ••C c~e,.uE:~te nf this ~~7f~ ~~itt t_^.:if~~ OR T~ ~S ir~{+ Lv I t,s t, r ~ t-: t~ t i~ t:..L~ .~T ~t. [i.i:;t ~:a'Jt' ~~r. . .iL' ~'l1;3• . . ~.1: . L•~. . •4ki. :l:l.~ Ji =l'.: St{~ i1efCL~~':Let CS ~ . requires such iaterrst to be paid~ Lenck~ shali aat be roquirai to ¢ay l~~rower any interest ~•r earn~nRs on t'r~e l~unds. 1_eiwcr shali give to Borrower, witl~out ch.arge, an annual accouoting of !he Furnls showing credits and debits to the Funds and the purpoae for which eacli debit to the Fu~ds was made. '1't~e Funds are pledged as additional security for the sums secured ~ by ihis Mortgsge. If the amount of the Fuads h~ld by Lender, together with the fuwre monthly installments of Fu~dc payable prior to th~ due dates of taxac, asxssmcats, insura~ce premiums and graund rents, shall exceed the amaunt ~equin~d to p•ry said taxes. assessa~ents. insurance premiunu and ground rents as they fall due, such excess shall be, at i3orrowYr s option, either prompQy npaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of thc Funds l~ld by Lender s1~aU twt be wfficient to pay taues, a~nts, insur3nce pamiums and grouod rents as they fall due, Bortower shall pay to Lende~ a~y umount nocessary to make up the deficiency within 30 daya from ~he date notice is mailed by Lender to Borrowe~ requestia8 paYment thereof. Upan payment in full of all swns securod by this Mortsage, l.cnder shall promptly retund to Borrower any Funds heW by L.enckr. If u~er paragraph 18 heneof the Property is sold or the Property is otherwise acquired by l.ender, i_ender s6a11 apply, no later than immediately prior to the sale of the Propeny or its acquisiticxe by Lender. any Fu~xls held by L.ende~ at the time of application as a credit against the sums secured by this Mortgage. 3. AppSe~ioo of P~mesls. Unless applicabk law provides otherwise, atl payments received by Lender i~nJer the Note aad paragraphs 1 and 2 hereof shall be applied by I.ender first in payment of amounts payable to Lencier by Borrowe~ under paragraph 2 heroof. then to interest payable an ihe Note, then to the principal of the Note, and then to interest and pri~cipal on any FutuK Adva~es. j d. Chs~ex I~eds. Borrower shall pay all taxes, asse.uments and othcr charges, fines and impasitions attributahie to the Property which may attain a priority over this Mortgage. and leasehold payments ar'gc~ound rents. if any, in the manner provided under paragraph 2 heroaf or, if not paid ':n such man~er. by Borrower making payment, when due. directly to the ' payee theceof. Borrower shall promptly furflish to Lender all no[ices of amounts due under this paragraph, and in the ev~nt Borrower shafl make payment directty, Borrower shall promptly turnish to Lender receipts evidencing such payments. 1 Borrorrer shall promptly d~xharge any lien which has priority over this biortgage: prov~~'t:d, that Borrower shall not be ' ' requirod to discharge any such lien so long as Borrower shall agree i~ writing to the payment of the obligatiun secured by t sueh liea in a manner acceptabk to l.ender. or shall in good faith .:ontest such lien by, or defend enforcement of such lien in. i legal proceedings whish operate to preveni the enforcement of the lien or forfeiture of ih~ Property or any part tt~ereof. ± S. Hazard Iasuranct. Borrova~er shall {:eep the impro~eme~ts now~ existing or hereafter e.cc:ed on the Property iosurod against lacs by fi[e, hazards includrd within the term "eatended coveragc', and such other haurds as Ixnder may require and in suci~ amcwnts and for such periods as Lender may require; provideJ, that Lencler shal! not require that the amount of such coverage exceed that amount ot coverage requirzd to pay t~e sums sea;ured by this Mortgage. ~ "ILe insurance carrier p?oviding t6e insurance shall be chosen by Borruwer su~ject to approval• by L.ender, providod, tbat such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner providod under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment. when due. dir+ectlv to the ~ ~ insurance carrier. All insurance policies and renewals thcreof shall be in form acceptable to [.emier and shatl include a standard mortgage I clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof. ~ and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums_ In the event of loss, ; Borrower shall give prompt notice to the insarance:arrier and Lende~. Lender may make proof of loss if not made promptly ~ by Borrower. ~ ~ Unlesi Lender and Borrowe~ otherveise agree in writing,- insurance proceeds shall be applied to restoration or repair of f the Froperty damaged, provickd such restoration or repa~r is economicalty feasib{e arsd the security of ihis Mortgage is not thereby impa~red. If such restoration or repair is not economicaily feasible or it the security of this Morigage would be impaired, :he insurance proceeds shall be appli~.•d to the sums secured by this Mortgage, with ~he excess. if any. paid to Bormwer. If the Propeny is abandoncd by Borrower, or i( Borrower tails to respond to l.ender within 30 days (rom the ? date twtice is mailed by L:,nder to Borrawer that Ihe insurance carrier of[ers to settle a claim for insurance benefits. Lender ~ is authorized to collect and apply t6e insurance proce~s at Lender's option either to restoration or repair of the Property or io t6e sums sscured by this Mortgagc. _ Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principa! shall not extend or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of - s~u6 installments. If under paragrapf~ 18 6ereof the Property is a~quired by l.e~uier, all right. title and interest of Borrower in and to any insurance policies and in and to the p~oceeds thereof resulting from damage to t6e Property prior to ttx~ sale or acquisition shall pass to L.en~r to the extent of the sums secured by this Mortgage immediately prior to such sak or acquisition. 6. Preservatjon and Maintenance of Property; I.easehold~ Condominiu~ Pl~sed Unit Devdoproents. Borrow•cr shalt kcep the Property in good repair and shall not c~t.upit waste or pem:i impa~rrr~nt or deterioration of the Property ~ and sha11 comply wit~. the provisioos of any lease if ifiis Mortga~e is on a leasehold. If ~his Mortgage is on a unit in a ~ condominium or a planced unit development, Borrower shail pertorm all of Borrower's obligations under the declzration or covenants creating or governing tbe condominium or -planned unit development. the by-laws ~and cegulatans of the condominium ~r planned unit development. and constituent Jocuments. If a eondominium or planned unit development rider is executed by Borrower and rerorded together- with this Mortgage. the covenants and agreements of sua:h ridcr s6a11_be incorporated into and shali amend and supplemer~t the covenants and agreements of this Mortgage as if the ricler wtre a part heroof. 7. rrdectios oi Leoder's Secerity. If Borro:ver fails to perform the covenants and agreetnents contained in this Mortgage, or if any action or proceeding is commenced which materially affects Lenckr's interest in the Property, ? including, but not limited to, eminent domain, insolvency, code enforcement, or arru~gements or proceedings involving a. { bankrupt or ~ecedent, then Lender at Leoder's option. upon notice to Borrower, may make such appearances, disburse such ~ wms and take sach action u is necessary tn protoct l.ender s interest. including, but not limited to. disbursement of ; reasonabk attoroey's fta and eotry upon the Property to make repa6rs. If Lender rcyoired mortgage insurance as a ' c~ndition of making the loan securod by this Mongage. Bo-row•cr shall pay the pnmi~ma required to maintain such : inwtanex in eHext until suc~i tia~e as the reyuirear,ent for such insurance tenninates in :iccot+dance wit6 Borrower s and `t ~ Bo~ ~7"1 pA~ 47 ~ -