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Home My WebLink About0937 •jC UNIFURM CUYE!.~NTS. Burrcw?er and l.~~iJ~r co~~cnant an~ agr~~ a~ folluws: 1, PaYment of Pri~clppl aad Interest. liurr.~w~~ sh:~li pn~mptly p3y Hhcn due thc prinrip:,l of ai;d mtrrest on the inJebtcdncss c~ide~cvd hy the Notc, prepaymcnt and lat~ charg~, a. pruvided in ~he Note, and Ihe principal uf and interrst on a~y Futurc Advanccs ~ccured by this Mortgage. Z. FuacLc tor Taxes a~d Insunace. Subject to applicable law~ or to a writ~en waiver by l.cnder, Borrower shall pay to I.ender on thc day monthly installments of principal and intcr~c~ :?re payahlc undcr the Note, until the Notc is paid in tull. a sum (herein "FunJs"! equal to one-twel[th of the yearly taxec and acses.menls whieh may attain pnority~ over this Mortgage, a~d ground n:nts on !he Property, if any. plus onc-tw•rlfth uf ycarly premium iostallments for hazard insurance, plus une-twelfth of yearly prcmium installments (or mortgage insur~ncr, i( any, all as rcasonably eslimated i~it~ally an~l from timc to time by !_ender on thc basi~ of asscs~m~nts anJ hilt~ anJ reasunablc estima~es thercof. 'il~e Funds shall be held in an institwion the deposits ~,r acr~~unts of which are insured or guaranteed hy a Federal or state agencp (including Lender if I_ender is such an institution 1. I.ender ~hall apply the Fands to pay s:?id ta~es, assessments, insurance prcmiums and ground rents. Lcnder may not chargc lo[ so holding and appiying thc FunJ~, analyzing said account, or verifying and co:npiling said assestiments anJ hills, unless LenJer pa~•s Barrower interest ~m the Fun~~ and applicable !aw permits LenJcr ta makc surh a charge. Rorrower anJ I.cndcr may agree in writing at thc time oi c~~rution af this 111~,rtgage that interest on the Funds ~hal! h~ paid to Bor~uwer. and unless such agreement is made or applicable taw requires such interest to be paiJ. Lcnder shall not bc reyuired ta pa}~ Bor~ower an}~ intcrest or carning~ un the Punds. I.ender shall give tu Borrower, without charge. an annual accounting of the Funds showing credits and debits to the f unds anJ the purpose for which eaeh debit to the Funds w•as nw~c. The Funds are ptedged additiunal securit}' for the sums secureel by this Mortgagc. If the amount of the Funds held by l.cn~ler, tugcthcr Hith the future mi~nthty inst:illm~nts of Fun~s pa~•ablc prior to the due dates of ta~es, assrssmems, insurance pr~miums and ground r~nb, shall e~ceal the amount reyuired to pay said taxes. assessments, insarance premiums and ground rent~ as they ta11 due, such e~cess ~hall be, at Borro~•er's option, either prompdy repaid to Borrower or credited to Bi~rrower un monthly installments of Funds. lf th~ amoun~ ot the Funds held by l.ender shall not be suti~icient to pay ta~es, assesstnents. irourance preraiums and ground rents as thcy fall due, Borrower shal) ~y to Lender any am~~unt nece~sar~• ro make up the ~kficiency w~ithin ?0 da~s from the date notice is mailed by Lender to Borrower reyucsting paymrnt thercut. ~ Upon payment in full of all sums s~.-~:urcd b~• this tifurtgsK~. I.cnd~r shall prompdp r~fund to Borrou•cr any Funds held hy I.cnJcr. If under paragraph I:t her~:of thc P~~~~xrt~~ ~c ,u~d or thc Pro~x:rty is ~therwisc acquircd h~~ l.ender, I.ender shall appl~-. ~io latrr than i~nmediatci~• prior to the ~alc rf th~ Pr~~~xrty' ~~r its acquisition by l.ender, any Fonds~fteld by Lendcr at ihc timc ui appliration as a creJit agaimt thr sums sccured h~• th~s ~tortgag~. t •~.1: ~ 3. Application of Pa~~ments. Unlc.s applicablc law provi~tcs othen~i~c, all payme~ts.tC~cu'~d b~~ I_cndcr upJer..the Nutc and paragcaph~ I and 2 hereuf shall b~: applieJ b~~ 1_cnder fint in pa~•meni c?f amo?~nts pa~ablr to Lrn~ler by Botrow•er under paragraph Z hcreuf.-then to ~ntrre~t papablc on the Notc, th~n t~~ thC principal of thc Nutr, and thcn t~~ intesest and principal on an~• Futurc Advanccs. 4. CharKec; Liens. B~~rroHrr sh.+ll pay all ta~c~, a.~rssmcnts and ~~~hcr chargcs, finr. aml ~mp.~citiuns attnbutat+lc to the Prop~rty which may attain a priority over thix Mortgagc, and leaschold paymcnts or ground rrntc, if an}~. in thc manner pro~•~Jed unde~ paragraph 2 hcreot or. if ~ot paid in such manncr. hy Borrower making payment, when due. ~Lrecdy ta the pay~ee thenuf. Borrower shall promptl~ furn~sh to LenJer all notice~ of smounts Jue under th~s paragraph. and in the event Borro~ser s:~all make pa~'ment Jirectl~, BorroHCr shall prompd)' furni~h to 1_ender rec~iptti e~idcncmg ~uch payments. Borrower shall promptly discharge any lien ~hich has priority o~er this Tlortgage: provi~le~1. ~h.+t Borrot~•er shall not be required tu diu:harge an)' such lien so lung as Borrowa;r tihall agr~~c: in «rilin~ tc. the p:~)~ment of the. oblig-ition s~cured by w.h lien ~n a manner acceptable to.Lender, or shall in K~~i faith conteu s«ch lien hy, u~ defen~ ~nforccniem ~.f such lien in, legal pn~cc~dingt which opcrate to prcvcnt thc enforcemcnt of thr licn or torfeiturc of the Propert~• or an~~ part thereof_ 5. Hazard lnsurance. Kc+rrower ~hall kecp the improvemcn~~ now cxisun~; ~~r hercaft~r crrctc~ on the Pr.~Exrty insured against In,+ h~• fire, hazard~ included within the term "e~trnde~l cu~rrege~~. ~~n~ such othcr hatardt a. 1_endcr ma~• rryuire an~l in s~s~h amaunts an~! for su. h~:riods as l.ender ma~~ rryuin: ~r~~~~idc~i, that t_cn.icr ~hall not reyuire thal the am~~unt ut ~uch ro~rragc crcccd that amu.int :~f co~~cragc rcquircd ta p:n thc .um. .ccurrd h~ this ~tort~a~c. ~ ! The insurance :arrier providin,~ the insuranre shall be chrnrn by Borrm~rr suhject to approvai h~• Lender. prov~ded, that su.h appro~al ~hall not be unreasonahly withheld. All prcmiumc an insurancc.~licies shall be paid ~n the manner ' pru~~ided under paragraph 2 hereof or. i( not paid in such inanner, b} Borro~er making payment, when due, ehrectly to the ~ insuran:c carner. ~ All insuranre ~?oGric~ an~ rcn~.~:,ls thcreui shall tx~ in torm acrcptablc to Lcn.ler rnd shall in~lud~ a~tan.f~rd mortg.~gc .:lausc m fa~•or vf and in form arcrpt:~blC t~~ Lcnder. t_cnJer .hall h:+~'e thc right lu huld Ih~ puliii~. and rcn~~~als theret~f. and Borr.~~+er tiha11 promptl~~ f~~rnish to Lender ~II renewal notices and all receipts of paid premit~m.. In the event of lo~~. ; 8orrower shall g~ve prompt notice to the i~uurance carrier and 1_ender. Lender mav make pra•! of loss if not m:?Je pr.~mpd~~ ~ h~• B~rrowcr. ' t Unless I_endcr and Borruw•~r othecwise agre~ in ~riting. insurance pn?ceeds shalt be applied to resturatirn~ ~~r repair of ~ the Propert~ ~amage~, provi~e~ such re,torat~on o+ re~air ~s eronomi~all~• feasiblc and ~hc ~e~urity of th~~ Atortgagc is % tiot thereb~ impaired. 11 ~u~h r~storatiun or rcpa~r is n~~t ~conumi~all} l~a~ihle or if the security of this ~tortgage w'ould p he impaired, the msurance pr~eccts shail tx: applied to the sums scci~red hy thu Mortg.+ge. ~~ith thc excess, if an~~, paid ~ t~i P.~~rrow•~r. It the Yropert~ ic ah.~n.l~,neJ h~ Borr.~wer, ~r if Barr~wer fails t~~ res~nd to Lcndcr within 30 da}'s from the ~ ~iatc notice ma~led by (.end~r m Borrower that th~ insurance carrier otlers to settle a claim for insurance benefits, Lender ~ authorited to collrct anJ apply the in,urance proceed~ at LenJer~s uptiun either to restor.~tion or repair ot the Propert) ~ ur to ~hc sum, ~~curcd h~~ this \lortgagc_ ~ Untess LenJcr and $eirrowrr othen~isr agree in Hnt~ng. am such applic.~tior~ uf prckreds to principal shall not e~tend ~ cx postpont thc due ~late uf tnr m~~nthly~ installments referred t~~ in paragraph~ 1 and ? herc~~f or change the amou~t of ~ ~uch ~n,tallmenti. If under paragraph 18 hereof the ProFx;rt~ i, acyuirc~ h~ Lender. all right, tide and interest of Borrow~er ~ ~ in and to am insurance poticies in and t~ th~ pr~:eeds thereut resulting fram d:+.mage to the Property prior to the sale ~ or acyuuition shall pa~s to Lender to the extent of the s~ms ~ecure~i h~• thi~ ~lortgagc immediately prior to such sale or "r acyuisitiun. - 6. Presenalion aod ~tainfenancr of Properi~: I.easehofds: ('ondominiums; Planned l;nit De~elopments. Borrowcr ~hall kre the Pru rt ~ in ood re air and shall not commit W aste c~r rmit im airment or dcterioration of the Pro rt ~ P P~ 5 8 P" f~ P Pe f _ and shuli compl~ with thc pruviL~ens o[ any lease if this ~lortgagr i. +~n a Iraseh~~ld. If thi~ hlortgagc ~s on a unit in a - wnJominium or a plan~~cd un~t .ie~clvpmcnl, Borrower shaN ~rfarm ell ol Kurr~~wer's ~~bligations under the declarat~on = ur covenanis creat~ng or govern~ng, thr condomin:um ur planned unit de~~rl~~pmcni, the by-{aws and regulations of thc ~~~n.irm~n~um or planned unit development, and .onstituent Joc~ment~. If a con~ominium or planned unit developm~nt nJer i~ rxecuted by Borrower and re:~rded together with this Murtgage. the covenanis and agreements of such riJer ~hall be ~ncorporate~l into and shall amend anJ supplement the co~ena~ts and agreemer.ts of this Mortgage as if the riJer ~ Hcre a part hereof. - 7. Protection of I.cnders Security. If Borr~wer fails lo ~rfi~rm the covenants anJ agreements contained in this ~-s I?1or~gag~. or if an}' acuan or proreeding i~ cummen~eJ which n~ateriaUp afTrcts Lender's interest in the Property, includ~r~~. but n.~t lin~ited to, eminent domain. incolvene}'. ccxle enf~~r:ement, ~~r arrangements or prcxeedings involving a = bankrupt or decedent. then I.ender at 1_ender'S option, upun nrnice ta Borrow•er, ma~~ make such appearanres. .~ishurse such sums and take w~h actiun as ~s necetsar~~ ta prutect l.enders ~mrre~t, incl!iding, but not limited to, d~sbursement of - reasonable attomc)'. t~es and cntry upun the Propcrt}~ to maV~c rcpauti. If t.cnder rcyuireJ mortga~e insurance as a condition of making thc loan tic;cured by~ this :~lortgag~, E3orm~?cr shall pay Ihc premiums requiral to maintain such insurance in etsect untii such time ac ~he reyuir~ment for such msusanre terminates in accurdance with Borruw~er's snd S=~ ~z - R ~ BOQK~~7`s PAf,E uW ' ~ - - - ~ : ~t~. ~ kS Y1 ' - - \ ~ 2'~s-~'_ ~ `2~ -.'~x: st`~ y' ~ . . , s. _ . . . ~~l 1°~ J~~ n ~ ~ ~ ~ti+^^: y.. ~ , _ • a.~:x . _ ~`r-~.'' . _ ~ :5.. . . ~~=9~ . .