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Home My WebLink About0382 , ; . , - . . UNIPOiIM COVF.NANT'S. Borrower and l.ende~ cover?ant ~nd agree as follows: 1. l~ae~l of ldaclMl a~i INeral. 6c~rrow~er shall promp~ly pay w~hen due the principal of and inte~est on tfie indebtedneu evidenced by the Note, prepaymeot and late cha~bec ac proviJed in the Note, and the principal of and intercst o~ aoy Future Advances secured by this Mortgage. 2. Fy~ tor Tuea a~i l~an*ce. Subject to applirablc law ta a written waiver by t.e~der. Borrower shall pay to Lender on Ihe day moothly inuallments of principal and ~ntercc~ arc payable unde~ the Note, until the Note is paid i~ tull. a sum (herein "Funds") eqwl to ooe-twelfth ot the yca~l~ ta~?e. anJ assessments which may attain priority over ~his Mort~age. and arou~d rents on the Pt~upe~ty, if any, pl~u one-twelfth ot yea~ly premium installments for hazard insurance, plus one-twllfth of ytarly premium installmeMs for mortgage insu~ancc, if any. all as reasonably cs~imated initially a~d trom time to time by I.ender on the buis of asscscments anJ hills and rea~onable estimates thereof. ~ The Funds shalt be held in an institwion the depo~iia o~ accounts oF which arc insured or guaranteed by a Fcderal or state aaency (including l,ender if Lcnder is such an institutian). 1_cnder shall apply the Funds to pay said taxes. xssusments. insurana premiums and ground renls. l.ender may oN charge to~ se+ holding and applying Ihe Fundc, analyzi~g caid actount. or verifying and compiling said assessments and bills, unless I_e~der pay~s Borrowe~ interest on the Funds and applicable law permits Le~der to make such a charge. Borrowe~ and Lender may agree in writing at ~he time ot ezecution of this Mortgage that interest o~ the Funds shall be paid to Borrower, and unlcss such agreement is made or applicable law rtquira wch i~terat to be paid. Lender shall not be roquireci to pay Borrower any interest or earni~~es on the Funds. 1_ender shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpoae for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Mortgage. If the amaunt of the Funds held by Lender, togelher with the future monthly installments of Funds payable prior to the due dates of ta~ca. assasments. insutance premiums and ground rents, shall exceed the amount required to pay said taxa, assesstaents. iasurance prcmiums and ground rents as they fall due, such excess shall be, at Borrower s optian, either promptly rcpaid to Bormwer or credited to Borrower on moathly installments of Funds. If the amount of the Funds held by Lender shall not be sui6citat to pay taxes. assessments, insurance premiums and ground rents u they [all due, Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed by 1Jender to Borrower requesting payment ~hereot. Upon paymeat ia full of all :ums tecured by this Mortgage, t_ender shall promptly refund to Borrower any Funds held by l.ender. If under paragraph 18 hercof the Property i~ sold or the Property is otherwise acquired by Lender, LenJer shap apply, no later than imnxdiately prior to lhe sale of the Propeny or its acquisition by Lender, any Funds held by L.ender at the time of application u a credit against the sums secured by this Mortgage. 3. A~iicatioa of Paymeots. Unless applicable law• provides otherwise, all payments received by I_ender under the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under pusgraph 2 hereof, then to interest pa7able on the Note, then to the principal ot the Note, and then to interest and priucipal on any Future Advaaces. 4. (,'6a~es; Le~s. Borrower shali pay all taxes, assessmcnts and othe~ charges, fines and impositions attributable to t6e Property which rt~ay attain a priority over this Mortgage. and leasehold payanents or gmund rtnts, if any; in the manoer ptovided under paragcaph 2 hereof or. if not paid in such manner, by Borrower making payment, whm due. directly to the psyee thereof. Borrower s6all promptly fumish to Lender all noticac of amounts due under this para=nph~ and ia the event Borrower shall ms?Ice paymeat directly, Borrower shall promptly furnish to Lender receipls evideacing such payments. . Botrowa shall pmmptly discharge any lien which hac priority over this Mortgage; provided, that Borrower shall not be required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligatiun secured by - such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defenJ enforcement of such lien ia. legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part theceof. S. Ha~ard iawrawce. Borrower shall keep the improvements now existing or hereafter erocted on the Property iasured against loss by fire, ha~ards included within the term "extended coverage", and such other hazards as i.ender may require and in such amounts and for such periods as Lender may require; provided, that Lender shall not rcyuire that the amount of such rnverage excced that amount of coverage required to pay the sums secured ~by this Mort~age. 1be inaurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender. providod. . that such apProval shall not be unreasonably withheld. All premiums on insurance p~licies shall be paid in the manner ''i provided under paragraph 2 heroof or, if not paid in such manner, by Borrower mafcing payme~t, when due, direcdy to the inwnnce carrier. ~ AU insurance policies and renewals thereof shall be in furm acceptable to l.ender and shall indude a standard mortgage ~ clause in favor of and in form acceptable to L,ender. Lender shall have the right to hold the policies and renewals thereof, ; and Borcower shall prompdy furnish to Lender all renewal notices and all receipts of paid premiums_ In the event of loss, ( ' Borrower shall give prompt notice ro the insurance carrier and Lender. Lender may make proof of loss if not made promptly + ` by Borrower. ' ? Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or rcpair of - the Property damaged. provicfed such restoration or repair is economically feasible and ihe security of this Mortgage is not thereby impaired. If such restoration or repair is not economically feasibie or if the security of this Mortgage would ~ be impaired. tha insurance proceeds shall be applied to the sums secured by this Mortgage, with.the ezcess. if any, paid to Borrower. If tlu Property is abandoned by Borrower, or if Borrower fails to respond to l.ender within 30 days from the ~ date aotice is mailed by Lender to Borrower that the insurance carrier offets to settle a claim for insutance benefits, l.ender is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Propert}• - or to the sums secured by this Mortgage. ~ Unless Lender and Borrower othetwise agree in writing, any such application of proceeds to principal shall not extend or poatpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount ot such instaUmeots. If under paragraph t8 hereof the Property is acquired by Lender. all right. tide and interest of Borrower ~ in and to any insurance policies and in and to the proceeds thereof resutting from damage to the Property prior to th~ sale ~ or acquisition shall pass to I.ender to the extent of the sums secured by this Mortgage immediateiy prior to such sale or acquiaition. 6, Preservatba and Mainteoaace of PropertY; Leasehulds; Condomioiums; Planned Uoit Devebpments. Borrower _ shall keep the Property in good repair and shall aot comr0it waste or permit impairment or deterioration of the Property ~ and shall comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a condominiem or a planned unit development, Borrower shall perform all of 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 documents. It a condominium or planned unit cievelopment ~ rider is eaecuted by Bonower and rccorded together with this Mortgage. the covenants and agreements of such rider $ s6all be incorporated into and shaU amend and supplement the covenants and agreements of lhis Mortgage as if the rider = ~ were a part t~ereof. ` 7, Protectioe of Ltader's Secarity. If Borrower fails to perform the covenanfs and agreements centained in this ~ Mortgage. or if any action or procoeding is commenced which materially aftects Lender's interest in the Property. including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a banlcrupt or decedent, then L.ender at L.eader's option,. upon notice to Bbrrower, may make such appearances, disburse such ~ twns and tske such action as is necessary to protect Lender s interest, including. but not limited to, disbursement of ~ reasonabk attome~s #ees and entry upon the Property to make repairs. ]f Lender required mortgage insurance u_ a ~ tondition of making the loan secured by this Mortgage. Borrower shall pay the premiums required to maintain such ~ i ~ iosursnet in eifect until such Ume as the requirement for such insurance terminatec in accordance with Borrower s and ~ HOOu ~~7~ F'A(~E ~ ~ ~ ~ ~ ~ - _ w ~ ~ ~ ~