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Home My WebLink About0611 UN1FOSlt CovcHA~rts. Borro~rer a~d Lender covenant aad agree as tolbw~: ' l. PaYment at hincipal t.id Intereu. Borrower shaU promptly pay when due ~he prindpal oI and incerat on the indebtedness evide~ad by the Note, prepa~nent and late charga u provided in the Note. and the principa! o[ and inta- est on any Future Advauces ~ecured by this Morcgaae. ~ L~ad~ to~ Taua aud Iawraace. Subject to applicable law or to a writcen ~raiver by I.ender, Borrower shall pay . to Lender on the day uanthly installments ot principat and interat an payable under the Note, until the Nott is paid in tuU. a sum (herein "Fund~'~ equal co onacwel[th o[ the peuly axa and auessmenu rvhich mar atain priority ova.thi~ t Mortgage. and ground rents on tbe Properq. iE any, plw onatweltth oI yeuly premium installmeuu tor haurd insurance. plus onatwelitb of yearly pmaium insulLnenu for ~nortgage i~surance. i[ any, all u nasonably atiauted initially and [tom ~ime to time br Lendet on the buis o[ as~ess~aents ind bills and reasonablc atimata thereo[. • The Funds shall be held in an iostitution the deposits or acoouna o[ which are inwred or guaranteed by a Federal or sute s~genry (including Lendn iI l.~nder is wch an institution} Lendet shall apply the Funds to pay said taxes, assesvnents. insurance premiums aad gtound nnts. Lender may not chuae [or ao holding and applring the Funds, analyzing said ac- : count. or verifring and oompiling said aasessmenta aod bill~„ unless Lendet part BorroNer interat on the Funcu and aEs : plicable la~v ptrmits Lender to make such a chuge. Borrower and Lender uuy agree in w+titing at the time oE execution oE this Mortgage that intereu on the Funds shall be paid to Borrower, and unlas wch agreement is made or appliable larv requires wch interest w. be paid. Lender shall not be required to pay Borro~rer any interat or earnings on the Funds. Lender shall give to Borrorver, ~rithout charge, an annual acrounting of the Funds showing aediu and debits to the Funds and the purpose tor w+hich each debit co the Funds wu made. The Funds are pledged as additional security tor the sums secured ~ . by this Mortgage, If the amount of the Funds held by Lender. together Mrith the future montbly insullments of Funds payable prior to the due data oE taxes, assessments, insunnce prcmiums and ground renu. shall exceed the amount required to pay uid taxa. assessnaents, iasurance premiums~nd ground rents as the~r tall due. such excess shall be, at Borrower s opcion, either prompdY repaid w Borrowet or d~edited to Borrower oa monthlr i~stallments oE Funds. lE thc amount oE the Funds hdd b~ L.ender shall not be rufficient to pay taxes. assessmenta, iniunnce premiums a~d ground rents as they (all due. Borrower shali pay to Lender any amount necessarr to make up the de[iciency within 30 daps trom the date notict is mailed by Lender to Borrower requesting payment thereof. ~ Upon payment in fuU oE all suuu xcurcd by this Mortgage. Lender shall prompdy retund to Borrower any Funds held br Lender. IE under paragraph 18 hereoE tht Propertr is soid or the Property is otherwise acquired by I.ender, I.ender sball applr, no later than immediacely prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time oE applicstion as a aedit againse the sums secured by this 1liortgage. 3. Application oE Paymcnu. Unless applic~ble law provides otherw+ise, all papments ieceived by Lender under che . Note and paragraphs 1 and 2 hereof shall be applied by l:ender Eint in payment oE amounu payable to Lender by Borrower under pangraph ~Y hereof, chen to interest payable on che Note, then to the printipal of the Note, and then to interat and principal on any Future Advanca. Charge~ Liena Botrowtr shall pa~r aU wces, ~sxssments and othet charges, fines and impositions attributable.to the Property ~vhich may attain a priority over this 1liortgage, and l~asehold paymenu or gtound tents, i[ any, in the man- ner provided under paragnph 2 hereof or, iE not paid in such manner, bp Borrower making papmrnt. Mrhen due. direcdy to the payee thereof. Botrower shall prompdy (urnish to I.ender a11 notices oE amounts due under this paray,raph, and in the event Borrower shall make paymenc direcdy, Botrower shall promptlr Wrnish to Ltnder receipts evidencing such paymenu. Borrower shall prompdy dischatge any. lien which has priotitr ocer this Mortgage; providcd, that Botrower shall not be rc~ quired to dischuge any such lien so long as Borrower shall .agree in wtiting to the Paymene of the obligation secured by such lien in a manner acceptable to Lender, or shall in goai faith contest such lien br, or de[end enforcement ot such lien in, le• i gal proceedings which operate to prevent the entorcement o# the lien or totieiture of the Property or any part thereof. ~ 5. Huard Inwranoe. Borrowret shall teep the improvements now existing or hercaEter etected on the Properq in- { sured against loss by fire, haurds intluded ~vithin the term "extended coverage", and such o[her haurds as Lender may re- quire and in such amounts and for such periods u Lender may require: provided, that L.ender shall not require that the - amount ot such toverage exceed that amount o[ rnvenge required to pay the sums secured by this 1?tortgage. The inwrance nrrier providing the insunnce shall be chosen by Borrower subject to approval by Lender: ptovided. ' that such approval shall not be unrea~onably withheld: All premiums on insurance policies shall be paid in the manner ~ provideci undet pangnph Y hereoE or, if not paid in such manner, by Borrower making parment, when due, direcdy to ~ tht insurance carritr. . ' - ~ All insurance policia and renewals thereo[ shall be in form acceptable to Lender and shall indude a standard mort- ~ gage clause in 6vor ot and in form acceptable to Lender. Lender shall ha~e the tight to hold the policies and renewals thereo[. and Borrower shaU prompdy [urnish to Lender all renewai notica and all receipts of paid pcemiums. In the e~;ent ~ of loss. Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss iE not made prompdy by Borrower. ~ ~ Unlas Lender and Borrower othetwise agree in writing, insunnce praeeds shaU be applied to restoration or repair of ~ the Propetty damaged, provided such ratontion or repair is emnomicallq [easible aad the security of this Nortgage is not thereby impaired. If such restontion or repair is not economically insible or i[ the security of this biortgage would _be im- paired, the insurance proceeds shill be applied eo ehe sums secured by this ~iortgage, rvith the excess, if any, paid to Bor- rower. If the Proprrty is abandoned by Borrower, or if Borrrn.er fails to respond to Lender within 30 days from tht datt notice is maitcd by Lender to Borrower tlut tht insun~~ce nrrier offen to settle a daim for insurance benetiu, Lender is authoriud to coAect and apply the insurance pr«eeds at Lender's optiun either to restoration or repair o[ the Ptoperty or w the sums secured by this Mortgage. Untas Lender and Borrower otherwise agree in writing, any such application oE pr«eeds to principal shall not extend or postpone tht due date ot the monthly installments te[erred ta in paragnphs 1 and 2 hereoF or change the amount of such in.tallments. IE under paragraph 18 hereo( the Property u acquired by Lender, all right, title and interest of Borrower in i and to any insurance policies and in and to the praeeds thereof multing from damage to the Property prior to the sale or ~ acyuisition shall pass to L.ender to the exten[ ot the sums secvred by this Mortgage immediatdy prior to such ule or ; acquiution. • . ~ r ~ 6. Pre~erration and Maintenance oE Properq: Lea~e6olds: CondomininmK Planned Onit Devdopmenu. Borrowa € st~all keep the Property in good repair and shall not commit waste or permit impairmenc or deterioration of the Ptoperty and shall complr with the provisions o[ any lease if this ~fortgage is on a leasehold. If this Mortgage is on a unit in a ° ~ condominium or a planned unit dcvelopment, Borrower shall perform all of Borrower's obligations under the declantion = ~ or mrenancs aeating or governing che condominium or planned unit development, the br-laws and regulations oi the rnndo- " i ~ minium or planned unit development, and constituent documents. If a condominium or planned unit developmrnt ridet is i• ~ pccctited by Borro~rer and recorded together with this Mortgage, the covenants and agreemenu of such rider shall be in- ` ~ corponted into and shall unend and supplement the covenants and agreemenu of this l~tortgage as if the rider were a part_ ~ ~ h~reof. ' ~ 7. protection of Lenda's Se~vriq. If Borrower fails to perform the covenants and agrtements mntained in this ' Mortgage, or if any ~ction or praeeding is commenced which materially ai(ect~ Lender s interest in t~e Property, including. ~ ~ ~ but not limited to, eminent domain, insolvency, code enforcement, or amngements or proc'edings involving a banktvpt ' ~ or decedent, then Ler.der at Lender i option, upon notice to Borrowet, may make sach appearances, disburse such wms ~ and take such action u is necessary w protat L.ender's interai, including, but not limited to, disbursement of reasonable ~ attorney's tees and entry upon the Property to make repain. I[ Lender required mortgage insurante as a tondition of } ~ making the loan sccured by this Atortgage, Borrower ahall pay the premiums iequired to maintain wch insurance in ef- ~ [ect until such time u the requirement for such inwrana terminaces .iii accordance with Boirower's and Lender's Mrtiuen ~ ~ ~ ~ • 0 R ~9 ~AC,~ ~O~ ~ 60C~t ~ _ _ ~i, - S~ .t A '~:'rr- a~ -e,y=S. ~/-~.??'4ti'~' w - " e -~6_eY~T- 1. ~~vP~N .F" gn-Mt","'7 ~ ; ~ k~"~r~ - '~T .~•j'~.~~~~c'~'+ +'9 ~ - " . . y ~ : ' Y.¢~~ _ a. > _ < _ s