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Home My WebLink About0288 . ~ . t UNIFURAI ~'ov~~n~~rs. B~~rruwcr and I.~n~lcr c~~vcnant aud akr~c a~ fulluws: ~ 1. Paymrnt ot Princlp~l ~nd Inlerrsl. fiurr~~Her ~hall prumptly pay Hhrn due thc principal u( and i~tcrcct un ~hc inJebtednrss r~iJenccd hy the Nut~, prrpayni~n~ und late ~har~r. a. pravided in ~he Note, and the principal uf and mtrrct~ un any Futwc Advanrc~ sccureJ by ~hiti Mot~gagr. 2. Rundc tor Taxes and Insurance. Subject to applicabie law• or to a H•~it~tn waiver by I.rnder, Rorrow~er chall pay to l.endcr un ~hc Jay monlhly inst:dlmrnt~ of principal and in~rre~t are payable unJer thc Note, until the T~ote i~ paiJ in full. a sum fhercin "Funds") equal to onc-twelfth of thc ycarly~ ta>cc and ascestiments which may a~win priurity over this Mc~rtgage, and ground rents an the Pmpcny, if a~y. plus une-twcl(ih of ~•rarly prcmium ins~a~lments !ar ha~ard insurancc, plus unr•twclf~h of yearly premium installmcros for mor~gage insurance, it any, all ac rcasunably estima~eJ ini~ially anJ from ~imc to time by l.cnder on thc b:~si~ o( ~..cssmcnts anJ hills :~nJ reawnable estima~es thereoi. The Funds shall he heW i~ :~n imtitutiun the JeM»i~. or accoums ot which are in~ureJ ~~r guaranlrcd hy a Federal or statc ab~nc)• (including l.ender if (.cn~ler i~ surh an institutiunl. I enJer shall apply the Funds t~~ pay s:iid lar~~s, a~ses~mcnts, ~nsurance premiums and ground rrn~s. Lender may no1 ~harge lor ~a holding a~d applying the FunJs, anal~r~ng said acrnunt, or verif~~ing and compiling saiJ a+.e~+ments ;~nd hills, unlrs~ I.enJer p•rys Borrower interest on the Funds and applicable law ~xnnils Lcndrr to makc wch a chargc. Norruwe~ and I.cndcr may agrcc in writing at ~hc timc ot rxccution ot thi~ ~1urlgage ~hat interes~ ~~n the Fun~~ .hall he paid to Borrowcr, and unlesc ~uch agreemen~ is made i?r applicable law rcyuire~ ~uch interest to hc paid, 1 cnder sh:~l) not I,c reyuirc~ tu pay Rurrowcr any intr~est ur carning, un the runds. i.ender shall givc to Borrowcr, Hithout chargc. an annual arc~~um~ng ~~f thc funds lhowing credils anJ dchi~s to thc f=und~ anJ thc purpos~ for which each Jebit to the I~unds wa~ madc. 'lhe t=w~da are pletlged a~ addiliunal securily for the ~umc secured by thi~ \tortgagc. If th~ •rmoum of thc Funds hcld hy Lcn.lcr. ~~igclhcr with th~ (uturc monthly imtallmcnts of f~unds pay:~blc prior to ti~e due Jates of ~axes, as~esaments, insurance pmmiums anJ Fmund rents, shall cxc~Y,-d ~he amount rcyuired to pry said taxes, assessmentc, insurance premiumc and grc~und rent~ a. thc}~ I:~11 dur, ~uch cxcetc ~hall be, at Horrower'~ opUon, either promplly rcpaid to Borrower or credited t<~ Borrov?•er on monthly im~atlmcnts of Funds. I( thc amount of thr Funds held by Lender sh311 not be SutTtcient to pay taxcs, asu+~mrnts; in<urance prcr.~iums and ground renis as ~he)' fall due, Born~wrr shall p:sy to 1_cnder an~• amo~mt nerc»<u~~ t~~ m:~kc up thc dcticienc~• within 30 Jay~ frum ~hc date nuticr ~s mailed by l.cndcr to Borrowcr rryucsting paymcn~ ~hereol. Upon paymcn~ in full a( aH sums sccurcd b}~ thic Mor~g:~gc, Lcndrr shall promptl~' rctund to B~~rr~w?cr any FunJs held hy I.en~irr. If undcr parsgraph Iti hcreol ~hc Pre?~xny i..~~W ~~r thc Propert~ is utherwiu acqi~ircd b}• Lender, t.ender ~hall apply, no latcr than immediahl~ prior to thc ~atc ~~f thc Pro~xrty~ ur i~s acyuis~ti~in h~~ I.cnJcr, any I~und~ hel~l by I.endtr :~t thc uinr ul appli~ation as a crcdit agr?mt thc sua~c wcured by ~hi~ !~lartgagc. 3. Applicalion of Paymentw lJnic,c 3p~~6CahIC la«• provi~lcs othcrwi~c. ull papmcnts rrcci~cd b}' I.~nJcr un.l~r thc \utc and par.~~;r:+ph~ 1 and 2 h~re~,! tih~ll hc applicd b}' I.rndcr fint in pa~mcnt uf amuunts ~a}'ablr to 1_rnJ~r hy Bc~rruwer • undcr par:~gtaph ? hcreuf. thcn tu ~ntcrc~t pa)'aMr c~n thr Nutc. Ihrn t~~ thr principal of thr N~~Ir. an.t ~hrn t~~ inl~rest and pnnap:~( un :my 1=u~ur.: Ad:anccs. a. ('harkes; Liem. Bi•rr~~~~er .hsll pa~ all t;~~e~, a~~c~~m~ntc and enhrr char~;rti. fine~ :~nJ im~..~,iti~~ns annhutaMc Io the Propcrt}• w•hirh may auain a priority over thi, Mortgagc, dll<J IC:iSC~::`~'± ~+aymcnts ur ground « n~s, if any, in thc manner pruviJed un~er p:u:~gr,~ph 2 hcr~ol c~r. it nut paid in such manner, by Borrower m~king payment. when due, direcdy to the payec thcrcuf. Borrowcr sh~l1 ~romptly furni~h tu I.endcr all noticcs of amounts duc undcr this paragraph, and in ~he cvent Horruuer ~,h:~ll m:ik~ paytneul dire~~h. Burre~HCr tihall pr<~mptly furni+h to I.enJer recei~+ts r~~tdenctng such paymcnts. Horrowcr shall promptly ~likhar~~ an}' iicn ~hirh has pn~~r~ty u~zr thi~ Mortgag~: pru~•~~~J, th:~t Burrow~r ~h~ll nu1 tx rcywred to J,kh.,rgc an~• ,uch licn tio lang as BorruHCr shall c~grcc in writing to thc pa}~mcnt ol the cibligatitm ~ccurcJ h~• .uch I~en ~n a mann~r acceptablc~tii I.cndrr, c~r .hall in gcHxl faith conte~t sueh lien hy, or defend enforren~ent of sueh lien in, Icg:d pn~ccrd~ng. uhirh opcratc to prev~nt thr rnfi~rcemcnt ol ~he hen ur [ur[ei~ure of the Property or an~ part thereof. 5. Natlyd Imurance. Borru~er ~hall keep the impru~ement+ m~w r~isting or hercalt~r crected on the Pru~xrty ~nsufCd a4ainst lo~ti h~~ fif~. haza~d~ inrludrd w~ithin Ihc tcrm "c~ICndcJ cuvcra~~". anJ such othcr hazard~ ati I cnd~r ma~' rey~nrc :~n.1 in su~h .in~~~ui~ts :m~l l~ir w~h peric~c a~ I.~ndci m~~• rryuirc: pr.~vidc~l. ~h~t I.cn~icr ~hall nut reyuirc that thc :~m~~unt of ~uch cu~•era~c c~c~~d that amuunt ccneragc reywrcd p:~)' Ih~ tiuri~; .rcurrJ h~~ ~hi. ~torlgagc. 'fhc in~~~ranrc r:~r~ier providing thc insuran~c tih.~ll Fx~ chi~,cn by f3urroticr suhjccl t~~ appro~.~l h~~ I.enJcr, pro~~~ded, that ~u~h approe~i .hall not tx: unrea+~mahl~• .+•iihhcld. All premiumt or. insurance p~~licirs shall he pai.l in Ihe manner ,~ru~ided imJrr p:+ragraph 2 h~rrot or, ~f nut p:~id in ,u~h manner, by Bc~rrower making payment. when dur, dircctly to ihe insurance catncr. All insur:~nrc policic, unJ rcne«als thcre~~t tihall Fx in furm :~rcc~t.~blr to Lcn~lcr and tihall ~ncludc a titan~~arJ mongagc ~lauu in fnv~.r i+t and ~ri lurm :~c~cpt:~hle 1~• (_cndrr. I ~nd~r ,hall ha.~ thc righl tu huld thc pi~li:i~, and rrnctials thcrcuf. ~ .~nd Borr~~uer ,hall pn~rn~tly furnish tv I.endcr all rencwal nouces and all receipts of paid premium,. In the e~~cM of lo.~. . ~ Borr~+w~er sh:ill g~~•e pr.impt notice to the ~murance carner :,nd Lender. I.en~lrr ma~~ make pr~h~f at loss if nut made prumpU~~ h~ Kurr~~wrr. i Unless 1 ender and H~rruwcr otherwitie ~Erer ~n wnting, in+urance prnceeds shall be •rpplied to rest~~~ation ur repair o( i the ProperiV damaged, prov~Jcd such re.tural~~m ur repa~r ic ccc~nom~caliy tca~ihle and ihe ~e~urity of thi+ Mortgage ~s ~ ~iut ~hercby impr~rcd. If ~u;h rc,!orat~~m or repair is n~~t rca«~+mi.all~• (r~~iblc or if thc ucurity of thiti ~t~r~gagc H•uuW ~ tk impa~red. the msurancc pra:ee~lti ~hall b~ applirei to the cums x:rureJ by this Mortgage. w ith the exce,s, if any, paid ~ to 8c~rr.~u~r. II thc !'ropcrt) is :~~~:induncd h~ I3orr~~HCr, or if Borruwcr tails a? res~nd to Lendcr ~vithin 30 days fmm thc `s ~fstc notice m:~ilcd by Ixnder tn Borrower that th~ ~muran~e c:urier ufTers to senle a claim for in~~rance benefit~. I.ender ~ ~ti awhorized to collect and :,ppl~~ thc imuran~r pnxeed~ at 1_ci~dcr's optiun eithcr to re~torauon or repair o[ thc {'roEx;n}~ ~ ~~r tu thc ~um~ 5ccured h}• this Mortgagc. Unlesti l cnder aiui E3u~m~acr ~~ther~i,c :~grer in Hnting. an~ sucfi appli~ation uf pr~kceds to pnnci~~at shall not extend k,r ~,stponc thc Juc J.,te u( thc nu~nthlt~ intitallmcnt. r~lcrrrd t~~ in para~raph. 1:~nd 2 hcreuf or rhangr thc amount o( .uch imtallmenh. 11 under parabraph t!i hereof the I'roEx:rt~~ i. ~cyuired h~ IxnJer. ~II right, title and interest ot Bormvver ~n and ta an} in.urance policies and ui :ind tc. thc prckeedti thereut re~idUng Imm Jamage to ~he Propeny prior to the s:Je ~ or :~cyws~uo~~ ~hall pa" to LenJer to the e~trnt of ~he tium~ tircurcJ h~ thiti !lto~tgage immed~atel~~ prior ~o Such sale or acyuisih:~n. ~ 6. Presenalion ~nd ~taiatenance of Propert~; I.easehnlds; ('onduminiumr, Planned l.~nil Ue~~elopmenls. Borrow•cr ~ tihai{ kcep ~hr Pr~pcrt}~ in g~~d rep~ir and tihaN not commit uastc ~~r permit impairmcnt or dcterioratiun ot the Property ~ :~i~d sh.,ll c~rrnpiy with the provisiuns o( any lease il ihis Mortgage un a Icas~huld. If thic hlortgage i~ u~~ a~init in a ~unJominunn ur a pl:inned :in~t Je~~clupm~nt. BorruN•er ,hall {xrfurm ~II uf Bormwcr's ubl~gations under ~he declaratiun ~ ur covenantti creatmb ur gu.erning ~hc cc~ndununium or planned unit devrl~~pment. the b}'-laws and regulatiom of Ihe ` ~un~i~~minium ~~r planned unit Je~~ciupmrnt. .~nd cuntitituent dcxumentti. I( a cundominium or planned unit devcl~.pment ~ ri~er n cxeruted by l3orrow•er and recordcd t«gcthcr w~th tbn M~atgage, thc covenants ~nd agrecments of surh rider ~ rha~l hc ~ncorEwratc~! ~nto and tihall amcnd and ~upplcmcnt the cmcn:+nt~ :~nd agrccmcnts of this Mortgage as if thc riJcr • Ncrc p:+rt hcreof. ~ ; • 7. Protection of I.enders Security. It B~~rrower tailc to ~xrt~,rm the covenanh and :tgreements contained in this :~lorigag~•. ur if any act~un ur prckceJing cammrnced wh:cF. m~~erially atTects Lender's ~nterest in the Propeny, ~ including. h~il nu! linnicd cmmcnt domain. in~~~hc~ec~. c~xlc cnf~~r~cmcnt. <~r arrangcmcnts ~,r pr~xecdings involving a ~ hani:rupt or dcccdent. ~hrn I.ender at I.ender'. upuon, upon notice t~~ Borrower, ma} make :.uch appcarances, dnburse such ~ sums and takc su~h acuun a~ ~s ncre.,ar~ tu pn~tcrt I.ender'c inlrre~t. ~ncluding. but not limitcd to. ~i~tiburumem ot reasonahle aUome}~. f~c~ and ~ntry u~+n ~he Propern• to mal.e repairr If I.ender reyuired mortgage inwrance at a ? cuniliti~~n of makin~ thc loan lccureJ Fy :hi~ :11i~rt~agc. B+~rn~.+rr shall pay thc prrmiums requ?re~l t~~ maintain such ~ insurancc in etTect umil ,u.:h dmc as ihe rcyuiremeni f~r wch mwranee terminates ~n accordanee w~th Borr~.wer's anJ ~ ~ Eoe~ ~6 Pacf 2~~ , ~ ~ . . ~ ~ 1 / 1• i ' ' ~ ~'?`-+zs-~~` ~rS. : s' ~ ~'"a~' ~.-F`~r`°' ^s~~?"i- . y.~..r . . . m ~~'f~x~,~ ~ ~ .i _.•`s.~ «i.'^'?-~' _