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Home My WebLink About0436 ~ 1 ' ~ ~ , ~ ~ ~ . ~ . UNJTORLI COViNANl'~. Borrower and L.ender coveoant snd s~ra a: tollows: ti w0'~st of triit~l a~i I~Mrat. Borrower shall promp~l~~ piy when due 1he principal ot and ioterast on the indebtednat evidencod by the Note. Ptepayment and late tha?gec ac p~ovided in Ihe No1e. ~nd the principal ot ~nd interest on aoy Futu?e Advances securod by this Mortaase. ~i for Ta~us ~i Irrn~ce. Subject to appiicahk law ar to s written w~iver by Lende~. Borro~re~ shall pay to Lender on the day monlhly installmenls o( principal and intorcu ~rc pay~bk under the Note, until the Note it paid in (ull. s tum (heroin "Fund~'7 eqwl to oK-twel(th ot ~he yearl~~ ~aac. and assasments which may attain priority ove~ this Mortsa~e, and ~round ronta oe the Property. it any. plus ooe•~weltth of yearly premium installments tor hazard inturance. plus one-twel(th o[ yearly premium installmen~s tor mon~age insurancc. it any, dl as roasonably estima~ed initially ~nd trom time to tin~e by l.ender on the basis oi ass~~mcnls anci hills and reasanable estimates thereof. Tbe Funds shall be held in an institutioo the deposiu or ~ccounts of which are insured or suaranteed by a Federal or ttate ajeocy (iotludin~ Le~de~ if Lcnder is such an institution). 1_ender shall apply the Funds to pay said taxp, as~etsments. insuranoe premiums and ~ound rents. I.ender may not charge for so holdinj and spplyins the F~inds, analyzin~ ~aid accoun~ or verifyint and complins said asxssmenis and Ailla, unless t_ender pays Borrower interat on the Funds and applicabk law permiu Lender to make such a charge. Barrower and l.ender may a`ree in wtitin~ at the ~ime ot exaution ot this Mort~a~e thit interat on the Funds shall be paid to Borrower, and uolas such a~rcement is made or applicsble law roquira such intercst to be paid, Lender shall nat be rcquired to pay Borrower any intercst or earnings on the Fuods. Lender shal! pve to Borrower~ without charge, an annual accounting of ~he Funds showin~ credits and debits to Ihe Funds and the purpoae for which tach debit to the Funds wu made. The Funds are pledged u additional security (or ~he sums secured by this Mortµ~e. I[ the amount o~ the Fuadt held by Lender, together with ~he future monthly installments ot Funds payable prior to t6e due data oi taxa. asseumenb. insurance premiums and ground rcnts, shall exceed the amounl requircd to pay said taxei, asseaments. insunnce premiums and ~round rents as they fall due, such ezcess shall be, at Bor~ower i option, either promptly repaid to Botrower or craiited to Borrower on mon~hly installment: of Funds. It the amount of the Fundi beld by Lender shdl not be tul~icient to pay taxa, asxssments, insurance premiums and ground rents as they tall due, ' Borrave~ shall pay to l.ende~ any amount nocessary to make up the deficiency within 30 days trom the date notice ~s mailcd ' by Leoder to Borrower requesting payment thereof. Upoa paytnent in full o[ dl aums secured by this Mongage, 1_ender shall promptly refund to Borrowe~ any Funds heW by Lender. If under pusjraph 18 hercof the Property i~ sold or the Property ~s otherwix acquircd by Lender, I_ender •hdl apply, no later than immediately prior to the sale of the Propeny or i~: acquisition by Lender, any Fund. held bv Leader at the time of application u a credit aga~nst the sums secured by this Mongage. 3. Applicatlw ot P~yos.ts. Unless applicable law provides otherwix, all payments received Dy Lender unJer the Note and paragraphs I and 2 hercof shall bc appl~ed by I.ender first in payment ot amounts payable to Lender by Borrower under puaQtaph 2 hereof, then to interest payable on the Note, then to the principal of the Note. and then to interest and princip~l on any Future Advance:. 1. ChaRes; Lkns. Borrower shall pay all taxes, asses~mcnts and other cha~ges. flnes and impositions altnbuiable to , tbe Property which may attain a pnority over this Mortgage, and leuehold payments or ground rents, if any. in the manner provided under paragraph 2 hereof or, it not pa~d m suc:h manner, by Borrower making payment, when due, directly to the paya thercof. Borrower shatl promptly forn~sh to Lender all notices ot amounts due under this para~nph, and in the event Borrower shall make payment directly, Borrower shall promptly turnish to l.endec receipts evidencing auch paymtnts. Borrowe~ :hall promp~ly discharge any 6en which has pnonty over this Mortgage; provided, that Borrower shali not be rcqwred to discharge any such lien so long as Borrower shall agree in writmg to the payment ot the obligation secured by such I~en m a manner acceptable ~o Lender, or shalt in good laith contcst such lien by, or defend enforcement of tuch lien in, le~al proceedmgs which operate to prevent the entorcement of the lien or forfe~ture of the Property or any part thereof. S. Huud lnatn~ce. Borrower shall keep Ihe improvcmen~s now eaisting or hereafter erecled on the Property insured agairut lou by firc, hazards included withm the term "extended coverage", and such other hazards u Lender may require and m such amounts and (or such periods as l.ender may requirc: provided, that Lender shall not require that the amount of such coverage exceed ihat amount of coverage required to pay ~he'sums securcd ~by this Mon~a~e. ' The insurance carner providing the insurance shall be chosen by Borrower subject to approval by Lender; provided. that wch approval shall not be unreasonably withheld. All premiums on insurance policia sha11 be paid in the manner provided uoder paragraph 2 hereof or, if not pa~d in such manner, by Borrower making payment, when due, directly to the iosurance curier. - All insurance policies and renewals thereof shall tx in form acceptablo to Lender and shall include a standard mortgage ~i clause m(avor of and in form acceptable ~o l.,ender. t_ender ~hall have the right to hold the policies and renewals ihereof, ~ and Borrower shall promptly furn~sh to Lender all rcnewal notices and all receipts of paid prcmiums. In the event of loss, Borrower shall grve promp~ notice to the in~urance carner and Lender. Lender may make proof of loss if not made prompUy ; by Borrower. Unlas Lender and Borrower otherw~se agree in writ~ng, imurance proceeds shall b~ applied to restoration or repair of the Proper~y damagtd, prov~ded such restorat~on or repair ~s economically feasible and the security of this Mortga~e is not thereby impaired. If suc:h restoration or rep~ir is not cronomicaUy feasible or ~f the securiry of this Mortgage would ~ be impaired, the insuraoee procads shall be applied tu thc sums secureJ by this Mortgage, with the excess, if any, paid to Borrower (f the Property is abandoned hy Borrower, or it Borrower fails to respond to Lender within 30 days trom the ~ date notice is mailed by Lender to Borrower ~hat the ~nsurance carrier offers to seule a claim for insurance benefits, Lender is authorized to collect and apply the imurance proceeds at l.ender's option either to restoration or repa~r of the Propenv or to Ihe sums secured by this Mottgage. Unless Lender and Borrower othervtise agree m wnting, any such applica~ion af prcxeeds to principal shall not extend ot postpone the due dal~ of ~he monthly installmcnts rcferred to in paragraphti I and 2 hereof or change ~he amount of such installmeats. 1( under paragraph 18 hercof thc Property ~i acywred by l.enJcr, all righ~, tiUe and interat ot Borrower in and to any tt~surance policies and in and ~o thc proceeds thcteof resulting from damage to the Propeny prior to th~ sale or acyuisition shall pass to Lender to the extent ot the ~ums secured by this Mortgage _immediately prior to such sale or ~ acquiiition. - ~ 6. Preservation and Maintenance ot Property; [.easehulds; Condominiums; Planned Udt Ikvebpments. $orrowcr ~ shall Iceep the Property in gc?od repair and shall not comroit yvaste or perm~t ~mpairment or deteriora~ion of the Property and shall comply with the provisions o( any teau if thn Mortgagc n on a leauhuld. If this Mortgage is on a unit in a ~ condominium or a planned tmrt develupment. Burruwer ~hail perl<~rm all of Borrower's obhgat~ons under ~he declaration . ~ or covenants creating or governmg the condominium or planncd unit de~elupment, the by-laws and rcgul~tionc of the s condomimum or planned unit developmen~, and cnnstituenl Jixumemti If a condominium or planned umt Jevelopment ~ nJer is executed by Borruwer and rccnrded ~~~ge~hcr with ~h~~ Mortgage, thc covenants and agreemenls o( such ndcr ~ shall be incorporated ~nto and shall amcnd anJ su~plcment the co+cnants and agreements of this Mor~gage as it the nJer ~ were a part hcreof. ~ ~ 7. Profection o( I.ender's Securtfy. I( Hc~rn~wer ta~l~ rn prr(~~rm the covenamt and agreements rontained in this g Mortgage, or if any act~un ur proceeJing <ummencr~l which ma~erially aBect~ I ender's interetit in ~he Proper~y. ~ mcludmg, but n~~t hm~ttd to, cmincnt doma~n. ~m,~hcncy. ~udc cnlorccment. ~~r arrangcmcnts or procccdings invoking a ~ bankrupt or deceden~, then I.ender at I.ender'ti c~plion, u~xin n~~lire to Borrower, ma~ make ~uch appearances. disburse such ~ sums and lake such actiun as ~s nece«ary~ tu pm~ect Lender'c mterest. ~ncl~~dinK. but no~ limrted to, d~sbursemenl oF re~sonable ~~~~mey't (ccti and entry up~~n ihc Prnpcr~~• t~r m~kc rcpau~. Lcnder rcyuireJ mortgage inwrance as a ~ condit~~~n of making thc loen tccure~f b} thi~ M~~rtF:~gc. {3~~rti+ucr sh:,ll p;.y thc prcmiums rcyu~rcd to mainla~n wch ~ ~nsurance in rt~cct until tiuch timc a~ thc rcyuircmcnt ~.uch ~ncurancc Icrm~n.~tr~ in :~ccordancc wilh Burrc~wcr'~ anJ f ~ ~ eooK 29~ Fnc~ 435 ~ . ~ k~ . : . _ ' ' _ " ~ - . ~ . 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