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Home My WebLink About0312 UNtraw Covur~Nn. Bo~rower and l.ende~ covenan~ and atree u follows: L~weM o~ hi~c~l a~i INtnsl. Bo~rower shali prcxnptl~• pay whcn due the principal of and intercst on the it~p~~pe~t evidenad by tbe Nota, prepayment and late chargc~ u provi~kd in the Note. and the RI~~L~~p~ _ on aay Future Advances secw+ed by this Mongaae. 2. !wi tK T~M s~i lawrres. Subject to applic~bk law ..r ~a a written waiver by l.ende~. eoRO~w~~ ~+~i wr to Lender on the dsy monthly installmenis of p~incipal and ~n~~rca~ arr ~yabk unde~ 1he NMe. until the Note is ~aid in tull. a sum (hercin "Funds'~ equal to one-twel(th of ~he yearl~ ~a~c. ~nd ~sscssmenls which msy attaio pnority over tAis Mott~a~e. and ~round reots on tt~e P[ope~ty, if any, plus o~e-~wcl(ih of yearly prcmium installments for hazard insurance. plus ooe-twelfth ot yearly prcmium installments for mor~gage insurancc. if any, all as reuonably estimated initially and trom time to time by Lenik~ on the buis ot asscs~ments and h~ltc and reasonable estimata thereot. The Funds shall be held in an ins~itwi~n ~he depos~es or ~ccoun~s of which are insurcd or gwnnteed by a Federal ot state agency (includina Lender if Lcnder is such an institutio~l. I.eoder ahall apply the Funds to pay said laxes. useumenb. insurance premiums and ground rcnts. 1 ende~ may not charge ~or so hotding and applying the F~~ndc. analyzing uid aecount, or verityint and compilint said ass~ssme~ts and Aill~, unless l.ender pays Borrower interest o~ the Funds and applicable law permits Lender to make such a charge. Bc~rrower and I:ender may agrce in writing at ~he time of exaution o[ this Mort~aje tbat i~terest on the Funds shall be pa~d to Borrower, and unlas such agreement is made or applicable law requira such intercst to be paid. Lender shall not Ae rcquired to pay Barrower any interest or earnings on the Fu~ds. Lender shall pve to Borrower, without charge, an annual accounting af the Funds showing credits and debits to the Funds and the purpose for which eaah debit to tlx Funds wu made. The Fur?ds are plaiged as additional security for th~ sums secured by tbis Mortpae. If tl~e amou~t ot the Funds held by Lender, toge~her with ~he future monthly installments of Funds payable prior to t6e due dates of taxea, ss~sessments, insutance premiums and g~ound rents, shall exceed the amount requiced to pay said taxes. aae~tments, insunnce premiums and ground rents as they (all due, such excess shall be, at Borrower's opt~an, eilher promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount ot ~he Funds bdd by Leoder shal! not be sul6cieat to pay taxes, assessmcnts, insurance premiums and ground rents as Ihey fall due, Borro~ver shall pay to Lender any amount necossary to make up the deficiency wilhin 30 days trom the date notice is mailed by Leoder to Borrowet requesting payment thereof. Upon paymeot in full of all sums stcurcd by this Morigage, I.ender shall promptly rcfund to Borrower any Funds held by Leader: If under parsgraph 18 hereof the Property u cold or the Property a othervvise acqwred by Lender, Lender s6a1! apply. no later than immediately prior to the sale o( the Property or i~s acquisition by Lender, any Func' held bv - L.ender at the time of application as a credit against the sums secured by this Mortgage. 3. A~plicatiw oi Pqaeofs. Unless applicable law pro.•ides o~herwix, all payments received by Lender under the Note and paragraphs 1 and 2 hereof shall bc appl~ed by I.cndcr fint in payment a( amounts payable to Lender by Borrower under paragraph 2 hercof, ttxn to interest payable on the Note, then to t i principal of the Note, and then to interat and principal on any Future Advances. ~ 1. Cbartes; Lie~. Borrower shall pay aU ta~r., a~ces~mcnts~nd~i ~r chargcs, fines and ~mpositions aUnbutable to the Properly which may attain a priority over this !~lortgagc, and lea,eho d payments or ground rents, if any, in ihe manner • pmvided under paragraph 2 hereof or. if not pa~d ~n .uch manner, by Borrower making payment, whtn due, directly to the papee theneot. Borrower shall promptly [urnish to l_enJer all not~res of amounts due under this paragraph, aad in the event Bormwer shall make payment direcUy, Borrower shal! prompdy furnizh to l.encier receipts evidencing such payments. Borrower shall promp~ly dixharge any lien which has pnonty over this Mortgage; provided, that Borrower shal) not be rtqwrcd to dischargt any such licn so long as BorroNer shall agree in writ~ng lo the payment of the obligatiun securcd by suc6 lien in a manner acceptabk to Lender, or shall in gocxi faith contest such lien by, or defend enforcement of such lien in, legal procetdings which opcrate to prevent the enfurcemcni o( ~he lien or forfe~wre of the Property or. any part thercof. S. Harsrd Insvnwn. Borrower shaU keep the ~mprovementc now• c~isting or hereafter erecled on the Property insured ; against loss by firc, hazards included within the term "extenJeJ coverage", and such other hazards as 1_ender may require i and in such amounts and for such periods ac I_ender may reyu~re; provided, that Lender shall not require that the amouni o( i such coverage exceed that amaunt o,f coverage required to pay the tum~ ucured ~by this Mortgage. t The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided, ~ that such approval shalt not be unreasonably withheld. All premium~ on insurance policia shall be paid in the manner € provided under paragrrph 2 hereof or, not paid in such manner, by Borrower making payment, when due, directly to the iasurance curier. ~ All insurance policies and renewals therco! shall tx in form accep~:~ble to Lender and shall include a standard mortgage q ctause in favor of and in form acceptable to l.ender. I.cnder chall have the right to hold the policies and renewals thereof, and Borrower shall prompdy furnish to Lender all ren~wrl noures and all receipts of paid premiums. In the event of loss, ` Borrower shall grve prompt notice to the insura~ce carner and I.ender. I.ender may make proc~f of loss if not made promptly ~ by Borrower. ~ Unless Lend~r and Borrower otherw~se agree in wnting. ~nwrance proceeds shalt be applied to restoration or repair of ~ the Property damaged, proviJed such re~toraU~~n or repair is cconomically feasible and the security of this Mortgage is ~ not ~hereby imp~ired. If such restorat~on or repa~r is not rcou~~mically frasible or if the security of this Mortgage would " be impa~red. the insurance proceeJs shall be applied to thr sums secured by this Mortgage, with the excess, if any, paid ~ to Borrower. If the Property is abandoned hy Borr~~wer. or it Borrower fails to res~nd to Lender within 30 days from the ~ dato notice is ma~led by Lender to Borrower that the insurance carner ofTers to settle a claim for insurance benefits. Lender ~ is authoriud to collect and apply the insurance proceeds at Lender'~ ~~ption either to restoration or repa~r of the Propert~~ ~ or to t6e sums secured by this Mortgage. ~ Unless Lender and Borrower otherv~~.e agrec ~n wnting, an} such application c~f prcx:eeds to prineipal shall not extend ~ or pos[pone the due date of the monthly imtallmcntc referred t~~ in paragraph~ 1 and 2 hereof or change the amount of such installments. If under paragraph 18 hereof the Propert} i~ acyuired h} LenJer, ali nght, tiUe and interest of Borrower ~ in aod to any tnsurance policies and in and to thr pr~.ceLdti thereof resulung from damage to the Property prior to th~ sale ~ or acquisition shall pass to Lender to the e~tent c~f the wms se~ured by this Mortgage immediately prior to such sale or acquisition. ~ 6. Presefvation and ~taiatenance of P~opert~: I.easeholds, Condominiums; Pbnned Unit Developments. Borrowcr shall keep the Property in good repair and shall not comruir ~+astc ur pcrmu im~airment or dererioration of the Property. ~ and shall comply with the provis~ons of any lease ~f ~h:, ~tottgagr n un a Ieasehold. If this Mortgage is on a unit in a ~ condominium or a planned unit de~clopment, Borr~~wer .ha1f ~+.rlurm aU of Borrower's obl~gations under the dedaration or covenants creating or governing the cundnminnim or planncd unrt develupment, the by-laws and tegulationc of the - condominium or planned unit development. .~nd c~~n~tiu?cnt ~i~kumrnt~. If s condominium or planned unrt development ~ nder ~s exec:uted by Borrower and recorded tu~;ether w,th thiti Mi,rtgage, the covenants and agreements of such rider shall be ~ncorporated into and shall amend an.l w~~pircnent thc cu~cnants anJ agreements of th~c 4~lortgage as ~f the nJer `s wcre a part hereof. : = 7. Profeclion of Lenders Secu~fty. If li~~rr~~~er r.~~l. r~~ prr(~~rm the covenant~ and agreements contained in this - Mortgage, or if any act~on ~~r prcxeeJ~n~ ~~~mrnencr~i :.iuch materially afiert~ I.ender's interest in the Property. including, but n~~t lim~~ed tu. rminent de~m~~n. ~n:~~i~en~~. ;,~dr rnt~~rrement. ~~r arr~ngrment~ or proceedings invoh•mg a bankrupt or decedent, then Lender at 1 enJer'. ~~~u~~n, u~:~n n~~i~ce H~rrowrr_ m~~ m:~ke such appearances, dishurse such = sums and take such aclion as is ne~e~.an pn~tec~ I rnder's irterest, mcluJin~. bijt not limited to, disbursement of ~ reasonable at~omey't fces and entry up~~n thr Pn~pern i~~ me~,r rrp:~~r.. If Lrndcr reyuirc.f mor~gage insurance as a ~ cond~lion o( makmg thc loan ~ecurcd b} th~s ~1.~n~.~cr B~~rn~~.rr sh.,11• ~ay thc prcmiumti rcqwred to maintain such `+r ~nsur~nce in e(Tect unti) tiuch t~me as the rcyuir~rnent (~~r .uih ~n~uran.r trrmin:~tr~ ui arcordance with Borr~~wer's and ~ ~ ~o~K ~97'~. PA~~ 312 ~ ~3 ~ ~ : _ X~