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Home My WebLink About0110 ' A 1 " UrrtFO~tt.t CovsNxrvTS. Borrower and l.enJe? ~•uvenan~ and akrre a~ follnwc: 1. ~'aya~tat o1 P~incfpa! sad laterest. HurroNer .h:~ll rr~~mptl~ p•ry whrn Jue thc principal ~~f and intcrest on ~he ~:?debtedness evidoncod by the Note, prepayment and latc ch:~rgr. a. pravi~led ~n ihe Note. and the princ~pal of and ~n~erest on any Fuwre Advances securcd by th~s Mor~gage 2. Fhads tor Tua aod I~ur~ace. Subject i~~ appli.:~t~lc i~w .~r t~ a a•~itten waiver by l.ender, Aorrower shall pay to I.enckr ort ~he day mot~~hly incta!lments principal auJ u+trrr.i ,~rr ~ayahle undrr the Note, until the Note is prid in tul1. a sum (hercin "Funcls") equal to ona~welhh ~~f ~he yearl~ ta~~. anJ ac~es~menlc Nhich may~ attain priority over this Mortgsge, and grou~d rents on the Pcoperty, if any, plus ~~nc-twrl(~h ~t ycarly prcmium installmeats for hazard insurance, ptus one-twelfth of yeariy premium instaltme~t~ tor mortgagc rnsrrrancr. ~f any, all ac ?cas~~nahh estima~ed initially and from time to time by l.endcr on the basis ot a~scs,~ncm. JI1lI MII~S :md r~.i~~~nable estimate~ the~cof. 'Il~e Funds shall he held in an instituti~~n the de~x~~i~, c,r a~cuunts ot which ;+re insured or guaranteed hy a FeJe~al or state agency (including Lende~ i[ Lender i~ ~uch an inah~uti~~nl. I.rnder ~h•rll appl~ the Fundc to pay said taaes, ass~.ssments, insunnce premiums and ground rcnts 1 ender n?ac nM charge t~x s~ holding and applying ~he Fundc. anal}•~ing ~aid acc.~unt, or verifying and compiling said assessments and hiU~, unles~ l.ender pay~ Borrawer interest on the Funds and applicable lavv permits Lender to make such a charge. Borrowcr and I.endcr may agree in writing at the timc of ~xecution ot this Mortgage that interat on the Funds shail bc paid to Harruwer, and unless such agrccmcn~ ~s maJc or applicable law requira such interest ro be paid, 1_rnder shall not F,e reqwred ~o j+a~• Bc~rrawer any interest or carning+ ~~n the Funds. I_ender shall give to Borrower, without charge, an annual acc~~uaung of the ~unds ~hovving credits and dehits to ~he Funds and the purpose for which each debit to the Funds was m•rdc. "~he Fund~ are pl~tilgcd a~ additional secuntz~ for ~hr sums secured by this Mortgage. . lf the amount of the Funds held by LenJer, tagether with the futurc monthly inst~llmcnts of Fund~ pa)ablc prior to the due dates of taxes, azxssments, insurance premiums •rnd grounJ renb, shall exceed the amount reyuired to pa~• said taxes, assessments, insurance premiums and ground rents as they fall due, such excess sh~ll be, at Borrowei s op~ion, either prompt~y repaid to Borrower or credi~ed to Borrower on monthly inst~llmcnts of Funds. If the amount of thc Funds held by Lender shall not be sufficitnt to pay taxes, assessments, insurancc Premiums ar,d ground rents as they tall due, Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 da~•s from the date natice +s mailed by I.ender to Borrower rtquesting paymcnt thercoL ~ Upon payment in full of all sums secured by t6is Martgagc, l.er~der shall promptly refund ta Borrower any Funds held by Lenckr. If under parag~aph 18 hereof Ihe Property i, sold or the Property ~s otherwise acquired by I.ender, I_ender s6a11 apply. no later than immediately prior to the sale of thc Property or its acquisition by [.ereder, any Funds held by L.ender at the time of applicateon as a credit against the sumc secured by th~s I~tartgage. 3. Appiie~liou of Paymeats. Unless applicable law prmides otherwise, all payments received by Lende~ under the Note and paragraphs 1 and 2 hereof shall be appiicd by Lender first in paymcnt of amounts payable to I.cnder by Barrower under paragraph 2 heroof, then to interest payable c~n the Note, then to the principal of the Note, anJ then to enterest and principal on any Future Advances. 4. Charses; Lieras. Borrower shall pay all l~xes. :usescmcn[s and othcr cha~ges, fines and impositions attributable to We Property which may attain a priority over this Mortgage, aod leasehflld payments or ground rents, if any, in the manner provided under paragtaph 2 hereof or, if not paid in such manner, by Borrowcr making payment. when due. directiy to the payce thereaf. Borrower shall promptly furnish to Lender all reolices of amounu due under this paragraph, aod ia the event Borrower shall make payment directly. BorroN•cr shall promptly fumish to Lender receipts evidencing_ such payments. Borrower shall promptly dixharge any lien which has prionty over ~his Mortgage; provided, that Borrower shall not be required to discharge any such Iien so long as Borrower shall agree in writing m the payment of the ob)igation seeured by suc6lien in a martner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in, legal proceedings which operate to prevent the enforcement of thc licn or [otfeiture of the Property or any part thereof. S. Hazard i~uurance. Botrower shall keep the improvcments now existing or hereafter e:ected on the Property insured against loss by fire, hazards included within the term "e~tended coverage'=, and such other hazards as Lender may reyuire aad in such amounts and for such periods ac I_ender may requim; provided, that LenJer shall not require that the amount of such coverage eaceed that amount of coverage required to pay the sums secured ~by this Mortgage. 'Il~ insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided. that such approval.shall not be unreasonably withhetd. All• premiums on insurance policies shall be paid in the manner provided under paragraph 2 hereof or, if not paid in such manner, hy Borrower making payment, when due, directly to the insurance carrier. All ins~rance policies and renewals thereof shall tx: in form acceptable to Lender and shal( inctude a standard mortgage clause in favor of and in form acceptable to Lender. t_ender shall have the right to hold the policies and renewals thereof, and Borrower sha!! promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss, Borrower shall give prompi notice to the insurance carner and t.ender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherw~itic agrce ir~ w~eting, insurance procecds shaA be applied to restoration or ~epair of the Property damaged, provided such restorati~n or repair is economically feasibte and the security of this Mortgage ic not thereby impaired_ If such restoration or repair is not economically feasible or if the securiry of this Mortgage would be impaired, the insurance proceeds shall be applied to thc sums secured by this Mortgage. with the excess, if any, ~aid to Borrower. !f the Property is abandoned by Borrower, or if Borrower fails to respond to I~nder within 30 days from the date notice is mailed by l.ender to Borrower that the insurance carrier ofiers to settle a claim for insurance benefits, Lender is aut6orized to collect and appl~• the insurance proceeds at Lender's option either to restoration or repaer of the Propem~ or to the sums secured by this Mortgage. Unleu l.ender and Borrower otherwise agree in writing, any such applica~ion of proc:eeds to principal shall not extend or postpone the due date of the monthly installmcntt rcferred to in paragraph~ I and 2 hereof or change the amount of such installments. If under paragraph 1 S hereof the Property is acyuired bp Idender, all right, title and interest of $orrower in and to any insurance poticies and in and to the proceeds thereo[ result~ng from damage to the Property priot to thr sale or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or acquisition. 6. Preservation and :~taintenance of Property; Leasehulds; Condominiums; Planned Unit De~~elopments. Borrowcr shall kcep the Property in good repair and shali not comro~t w•aste or permit impairment or deterioration of ttie Property and shall comply with the provisions of any lease if this Mortgagc it on a leaschold. If this Mortgage is on a unit in a condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaratioa or coveaants creating or governing the condominium ~r ptanned unit development, ~he by-laws and tegulations of the condominium or planned unit devetopment, and constituent doc:uments. If a condominium or Planned unit Jevelopmeni rider is eaecuted by Borrowet and recorded together v?ith ~hic Mortgage, the covenants and agreements of such rider shall be incorporated into and shall amend and supplcment the co~•cnants and agreements of this Mortgage as if the ri~ler were a part hereof. 7. Protectioa of Ltoder's Secu~ity. !f Bortow-er fails fo perform the covenants and agreements contained in this Mortgage, or if any' action or proceeding is commenced uhich materially afiects I.ender's interesl in the Properry. including, but not limited to, eminent dumain, in~lvency, code en(orcement. or arrangements or proceedings invol.•ing a baakrupt or decedent. then L.ender at Lender's option, upon notice to Borrower, may make such appearances, dishursc sach sums and lake such action as is necessary tu protect Lender s micrest, including. but not timited to, disbursement of reasonabk attomey's Eees and eniry upon the Property to make repairs. lf Lrnder reyuired mortgage insurance as a condition of making t6e loan secured by this Mortgage. B~rrower shali pay the premiums required to maintain such insurance in ePfect until such time as the reyuirement for tiuch insurance terminate~ m accordance with Bormwer s anJ R 292 ~~~E 110 eU~~l( s _ _ , - - - - _ - - - - _ - - - ~ ~ ~ ` ~~-~'-~z r~ ~ r~ " f r,~~ ~ - ~ ° v ~ ~ ~ ~