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Home My WebLink About0008 ~ UN~FO~ti.t CovEN~NTS. Borrower anJ l.cnclr~ cuvcnam and a~;rrc as foltc~KS: 1. Paymeat of Principd aud interest. Bur~~~w~r ~h:~l! ~rom~~l~ p~y whrn due thc principal of a~~d intcreu on the ~~debtednus evidenced by Ihe Note, prepayment and latr chargr. a• rravided ~n thr Note. a~d the p~incipal of and mteres~ o~ any Futurc Advances secured by thi~ Mongagc 2. i~nds tor Taxp srid ]~tsuraaca Subjec~ to appiirahic lav? ar to a writce~ warver by I.ender, Borrower sh:~l) pay to Leoder on the day monthty ioualtments of pnncipat anJ ~n~rrc.t ,ur ~ayahlc urtder thc Notc, until the Note is paid in tull, a sum (herein "Funds") equa) to one-twcUth ot tFx~ ycarh ~a~~. anJ as~cssmcnK whic:h may attain pri~~rity over thic Mortgage, and ground rents on tae Proper~y, if a~y. ~lu. ~•~c-twclfth ol yrarly premium i~s~allments for hazard insura~ce, D~us one-twelfth of yearly premium installmcnts for m~~r~gagc insi~ran~c. ~f any, all a~ reasc~nabl}~ estim:+ted initially and trom lime to time by i_ende~ on the basis of a~.es~mrnts and hrll~ a~d rea~anable est~males Ihercof. 71~t Funds shall be held in an ins~ituti~~n thc de~.n. or a~c~.unts ut which are insureJ or guaranteeci by a Federal or state a~tencv (including Lender if Lcnder such an insutu~i~in). I cnder ~hall appl~• ~he Funds to p:+y ~aid ta~?e~, asseumrnts, insurance premiums and gmund renb.~ 1 ender ma~• nc.t charge t.~r so hotcting and appiying ~nr F~~u~;.. a~:.;:~:: :sEa ~e!. or verifying and compiling said assessmenls anJ hilh, unlcss 1 ender payti Borrower interest on the Funds and applicable law ptrmits Lender to make such a charge. E3orrower and i.ender may agree in writing at the time ~~f executiun of this Mortgage that interest on the Funds shall he paid to Borruwer, and unless such agreemen~ is made ur ~pplicahle !aw requires such interest to be paid. Lender shall not be reyuired to pa~• Sormwer ~ny intcrest or carning, ~~n the Funds. Lender shall give to Borrower, without cha~ge, a~ annual accounting of the Fund> >hc~wing credits anJ dehits to the Fund~ and the purpose for which eaeh debit to the Fu~ds was made. The FunJa are pleeiged a~ additional securi~~~ for thr sum~ secureci by this Mortgage. If the amount of the Funds held by l.ender, toge~her with the iuture mon~hly inctaHments of Fund~ payrblc prior to the due dates of taxes, assessments, insurance premiums anJ ground renti; shall cxceed ~he smaunt reyuircd to pay~ ~aiJ ta~es, ass~tsments, insurance premiums aod ground rents as they (all due, such ercetis shall be, at Borrovver's opi~un, either protnptly repaid to Borrow-er or credited to Borrower on manthly installments of Fundc. U the amount of thr T-unds held by Lender shal! not be sufficitnt to pay tazes, assessments, insurancc premiumz anJ ground rents as ~hcy (afl due, Borrowrer shall pay to Lender any amount necessary io make up the deficiency within 30 days (rom the date notice is mailed by Lender to Borrower requesting payment thereof. • . Upon payment in fult of alt sums secured by this Mortgage, Lendcr shall promptly refund to Bormv?~er any Funds held by I.ender. lf under paragraph 18 hereof the Property i~ sold or thc Propcrt~• is otherwisc acqwred by l.endcr, l.ender shall apply. no later than immediatcly prior to the sale of the Propeny or its acquisition by I_ender, any Funds held by Lender at the t~me of application as a credit against the sums secured by th~s \fortgage. 3. Application of Paymeats. Unless applicable law~ proviJes otherwise. all payments rcccived by l.ender unJer the Note and paragraphs 1 and 2 hereoi shall be applied by Lenik;r first in payment of amounts pa}~able to l.cnder hy Borrower undec paragraph 2 hereof, then to intcrest payablc on the Notc, then to thc principal o( the Noic, and thcn to interest and principal on any Futute Advances. 4. C6arges; Litac. Borrower ~halt pay all t~xes. assessmrnts and other charges, fines and imp~nitions attributable to the Property which may attain a priority over this rtortgagc, and lea;ehold payments or ground rents, if any, in the manner ptuvided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, wheo due, directly to the _ payee thereof. $orrower shall promptly furnish to LenJer aU notices o[ amounts due under this paragraph, aad 'tn ihe event Borrower shall make payment direcdy, Borrower sha!! promptly furnish to l.ender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Mortgage; provided, ~hat Borrower shall not be required to dixharge any such lien so long as Borrower shall agree in writ~ng to the payment of the obligatiun secured by suc6lien in a manner acceptab[e to I.ender, or shafl in good faith contett such lien by, or defend enforcement of such lien in. ' legal proceedir~gs which operate to prevent the enforcement o( the I~en or forfeiture of the Property or any part thereof. S. Hatard Insurann. Borrower shall keep the impro~•cments now ctisting or hercafter erected an the Property insured ' against loss by fire, hazards included within the term "extendeJ rnve~age". and such other hazards as Lender may require ~ and in such amounts and for such periods as [_ender may reyuirc; provided,•that Lender shall not require that the amount of such coverage exceed that amouot of coverage required to ~ay the sums secured ~by this Mortgage. '1?~e insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided, t6at such approval shal! not be unreasonahly withheld_ All premiums on insurance policies shall be paid in the manner provided under paragraph Z hereo! or, i( not paid in such manner, by BorroK•er making payment, when due, directly ta the insurance carrier. All insurance policies and renewals thereof shall be in form accept:+ble to LenJer and shall include a standard mortgage clause in favor of and in form accep.aole to Lender. Lender shall have the right to hold the paiicies and renewals thereof, and Borrower shalt prompdy furnish to Lender a!t renewal notices and all receipis of paid premiums_ In the event of ioss. Borrower shall give prompt notice to the insurance carrier and Lender. I_ender may make pr~f of loss if not made promptip by Borrower. • Unless Lender and Borrower athcn+i,~; agrce in w~riting, inturance proceeJs shatl be applied to restoration or repair of the Property damaged, ptoviJed sueh re~toration or repair is economically feasible and the security of this Mortgage ic not thereby impaired. I( such restoration or repair is not economicallp feasible or if the secarity of this Mortgage would ~mpaired. the insurance prc~ceeJs shall be applied to the sums secured by this Mortgage, with the excess, if any, paid to Botrower. 1[ the Propert}' is ~bandoned M~ Borrower, or i( Borrower fails to respond to 1_ender within 30 days from the date notice is mailed by Lender to Borrower that the insuranre carrier offiers to settie a claim for insurance benefits, 1_ender is aut6orized to collect and apply the insurance proceeds at Lcnder's option either to restoration or repaer of the Pmpem• or to the sumi securecl by this Morigage. Untess Lender and Borrower otherwise agrce in wrrting, am~ such appfication i?! prexeeds to pnncipal shall not c~~end or postpone the due date of the monthl}• installmcnts rcferred to in paragraphs I and 2 hercof. or change the amount of such installments. lf under paragraph 18 hereof the Propert}~ is acyuired by Lender, aU right, tide and interest of Borrower in and to any insurance policies and in and to the proc:eeds thereof resu(hng from damage to the Property prior to thc sale or acquisition shall pass to Lender to the extent of the sums secured by this l~fortgage immediately prior to such sale or acquisition. 6. Preservatioa and ;1laintenance of Propett}; [.easehulds; Co~dominiums; Planned Unit Developments. BorroHCr shall keep the Property in good repair and shatl not comroit waste or permit impairment or deteri~ration of the Property and shall comply with the provisions ot any lease if th~ti t~lortgage i. un a Icasehold. If this Morigage is on a unit in a condominiom or a planned unU development. Borrower shall perform all af Borrower's obligations under the declaratiun or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the condominium or planned unit development, and constituent Joc:umen~~. If a cundominium or pfanned unit Jevelopmen! rider is executed by Borrower and recorded rogether u~th this Mortgagt, the covcnants and agreements of such rider shall be iocotporated into and shall amend anJ supplcment the co~enants and agrrements of this Mortgage as if ~he ri.ler vrere a part hereof. 7. Protection of Lende~s Securfty. If Borrou•er failc M perform the covenants and agreements rontained in this Mortgage, or if any action or pra:eeding ic commenceil which materially afferts I.ender's interest in the Property, inetuding, but not limited to, emioent domain, ins~lvency, a~de enforcement, or ~rrange~nents or proceedings involving a bankrupt or decedent, then l.ender at Lender's option, upon notice to Borrower, may make such appearances, disburse wch swns and take such action as is necessary tu protect Lender's imerest, including, but not limited to, disbursement of reuonable attorney's fces and entry upon [he Propert}• to make repairs. If t.ender rcyuircd mortgage inturance as a condition of making ihe loan secureJ by this ManR~ge. B~~rr~~wrr sh,~ll pay the ~remiums required to maintain such insutanee in effect until such time as thc reyuirement for ~uch insurance Icrminates in accordance with Borr~~wer's and t ~M ~ot;K ~.JJ FaCE 8 _ - - - - - - - ~~.~~~.`-"~~~-.e ~ . ~k;,,_ ~z . . . _ - ~ _a~