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Home My WebLink About0215 ~ s UNIPORM COVBNANTS. Borrower and l.e~der covenan~ a~d s~~a u follows: 1. h~at ot tA~clp~i ri INetwf. Borrower sha11 promP~~Y WY ~hrn due the priacipal o[ and interc~t on the . + indebtedneu evidenced by the Note. prepayn~ent and late char~es as providod in the No1e. and tha principal ot and ieterat ~ on any Future Advances securod by this Mort~a~e. ' ~ F~ tor T~M s~i l~aessce. Subject to spplicable law or to a writtea waiver by L.ender. Borrowu shall WY ' to Gender on the day monihly installmenis ot pri~uipal and interest sre psyabk u~de~ the Note. uatil the Note is paid in fup. ~ a tum (heoein "Fuud~") eqwl ta oaatwelUh ot the yeariy tues and assaunents which may attaia pridrity over this Mort~aQe. ~nd ~oound nnta on the Propeny~ i[ aay. plus oae-tweltth of youly prcnuum inslallments tor hazard insurance~ ~ plus one-twel[th.of yeuly prcmium instalimenu foc monaate inaurance. it aay. all as r~eawnabfy estimated initially and trom - time to time by Lender oa t6e basis of assas:ments and bills and reasonabk atimata thoreof. The Ftinds shall be held in an institution the depaits or accounb ot wbich are iosured or suaranteed by a Federal or ~ ! :tate a~ency (includin~ Leader if L.e~sder ia such an institution). Lender sball apply the Fuadt to pay said taxa. aueuments. i~uranoe premiurru aad tround rents. I.ender may not char~e for so holdin` aad applyina the Fw~ds, analyzinj uid accoun~ or verityin~ and compilin~ uid auessment~.and bilb. unkss Leader pays Borrowe~ interat on tbe Fundt aad applicabla 1sw petmits Lender to make such a charse. Borrower and Le~der may agr~ in writing at the time of execution of this Mortp~e tbat interat on the Fw~ds sball be paid to ~orrower. and unless auclf a~reement is made or applicabb law rcquira such interat to be paid. l.ender shall not be roquired to p~y Benowe~ any interest or earnin~s on the Fua~. Lendcr s~iaii ~~e t3 8~~3v:er. ~it~,st :~.a:ga. an ~nual accounting of ihe Funds :howinj crodib and debits to the Funds u~d the purpose for which each debit to tbe Funds was made. The Funds arc pled~ed ~ additional security for the sums secured ? by th~ Mort~e. ~ I! the aawunt of the Fund~ held by Leoder. together with the futun monthly installmenb of Funds payabk prior ta the due data of taxa. sssessments. insurance pr~miumi and ground rents, shall exceed the amount requind to pay ~id tua. asse~nents. i~uraace premiums and ground rrnts u they fall due.~ such excess shall be. at Borrowers option. either ~ pranpUy repaid to Borrower or creditod to Borrower on moathly installments o[ Fuads. If tNe smouat of the Funds ; held by Lender shaA aot be :ulScieat to pay taxes. asseume~ts. insurance prcmiums and ~round rentt u they fall due. ~ Borrower ahdl pay to I.ender any atnount necwary to make up the deficiency within 30 days from the dste noticx ia mailed ` by I.ender to Borrower reque~tiag payment lhereof. _ ~ Upon payme~t ia full of all aums sxured by this Mortgage, l.ender shall promptly refund to Borrower any Fund~ j held by l.ender. lf under pua~raQh 18 hercof the Property is sold or the Propeny u othenvise acquired by Lender. Lender shall apply, no later than immediately prior to the sale of the Property or it: acquisition by Lender. my Funds held by [.eader at the time of applicatioa ss a credit against the sums sccured by this Mort~age. ~ ~ 3. A~plkatios ot Paymeab. Unless applicable law provida otherwise, atl payments roceived by I.ender under the ~ Note and puagnp6s 1 aad 2 heroof shall be applied by Lender first in payment of smounts payable to l.ende~ by Borrower ' under parsaraph 2 henof. then to interest payable on the Note. then to the principal of the Note. and then to interest and~ ~ principal on any Future Advanoes. 4. C6ar~es; Lie~s. $orrower shaU pay all taxa, asxssments and other charges, flnes and impositions attributsble to ; the Pmperty which may attain a priority over this Mortgage, and leuehold payments or ground rents, if any. in the manoer . ; provided under paragraph 2 hereof or. i[ not paid in such manner. by BorrowN making paymeat. when due. dirocQy to the ' payee thereof. Borrower a6all promptly furnish to Lenckr all noticxs of amouats due under this paragrsph. and in the event ~ Bormwer shall maice payment diroctly. Borrower shaQ promptly turnish to Lender raxipts evidencing such payments. Borrower shal! promptly discharge any lien which hss priority aver this Mort~age; provided, that Borrower shaU not be ~ required to dischargc any such lien so long.as Borrower shall agree in writing to the payaunt of the obligation socurod by s~uh lien in a manner acceptabk to Lender. or shall in good faith contest such lien by, or defend enforcement of such lien in, legal proceodin~s which ~perate to prevent the enforcement of .the lien or fodeiture of the Property or any put thereof• S. Hazard ln~unnce. Bocrower shall koep the improvements now cxisting or hereafter erected on the Property insured agai~t loss by f~re. huards included within the term "extended coverage", and such other ha~rds as L.ender may requi~e and in sueh amounts and for such periods as Lender may requirc: provided, that [.ender shall not require that the amount uf such coverage excKd that amount of coverage required to pay the sums secured by this Mortgage. T1~e iowrance carrier providing the insurance shall be chosen by Borrower subjut to approval by Lender, provide~, t6at wch approval shall not be unressonably withheld. All prcmiums on insurance policies st~all be paid in the man~er provided under parograph 2 hereof or; if nat paid in such manner, by Borrower makiag paymeat. when due. diroctly to the insurancx curier. All insuranee policies and renewals theroof shall be in form aceeptable to Lenckr and shaii inc;uue $ standard mortgage clause in Eavor of and ia form acceptabk to I.ender. Lender shall have the right to hold the policies and renewals thereof. and Borrower shall promPtly furnuh to L.ender al! renewal noticcs and all raxipu of paid premiums. 1n the event of loss, Borrower shall give prompt notice to the insurance carrier and l.ende~. Lender may make proof of loss if not made promptly ' by Borrower. - Unlest Lender and Borrower otherwise agree in writing, insurance procoeds shall be applied to restoration or repair of the Propeny damaged, pmvickd such restontion or repair is economically feasible and the security of this Mortgage is not thereby impaired. lt such restoration or repair is not economically feasible or if the a~urity of this Mortgage would be impaired, the insurance proceedt shall be applied to the sums secured by this Mottgage. with the excest. if any. paid to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 daya from the date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefiu. I.ender is aut6oriud to colloct and apply t6e insurance proceeda at Lender's option eit6er to ratoration or repair of the Property . or to the sums securod by this Mortgage. ~ Unleu L.ender and Borrower otherwise agrce in writing, any such application of proceeds to principal shall not eztend or postpone the due date _of the monthly inatallments refcrrcd to in paragraphs 1 and 2 hereof or change the amount of such installments. If under paragrap6 18 hereof the Property is acquired by Lender. all right. titk and interest of Borrower in and to any insurance policia and in and to the procoods thereoE resulting from damage to tbe ~Propeny prior W the sale or acquisition shall p~ss to I:ender to the extent of the sums secured by this Mortgage immediately prior to such sak or acquiaition. . 6. h~nervstbe aad Maioteaaure of Property; Lea~elwlds; Condominiuu~ Planned Udt Devdopments. Borrowef shall kcep the Propetty in good repair and shall not commit 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. lf this Mortgage is on a unit in a condominium or a planned unit development. Borrower shall perform all ef Borrower': obligatioos under the declaration or covanants creating or governing the condominium or planned unit development. the by-taws end regulations of the condomi~ium or planned unit development. and constituent documen~s. If a condominium or planned unit development rider is exautod by Bonower and recorded togeth~r with this Mortgage. the coveaants and agrcements of such rider shal{ be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider were a part hereof. 7, protertioa of Leade~s Secnriq?. If Borrower (ails to perform the covenants and agreements contained in this Mortgage, or if any action or proceeding is commenced which materiaUy affects Lender': interest in the Property. including, but not limited to, eminent domain. insolvency, code enforcement, or arrangements or proceedings involving a - bankrupt or dceedent, then l.eoder at Leoder's option, upon notice to Borrower~ may make such appearances, disburae such sums and tske ~uch action u is necessuy to protect Lender s interest. including, but not limited to, disbursement ot reasonable attomey's foa and entry upon tt~e Property to make repain. If Lender required mortgage insurancx u a conJition of makiag the loan secured by thia Mortgage. Borrower shall .pay the premiums requiral to maintain such inwrance in effect unlil such time as the rcquirement for such insuranct terminates ia aecordanex with BorrowePa and ~ ~ . . ~ . • ' ' ` 299 P~~E 215 ~ ~ - 5'' f'X ~ ~ ~ - - ~ ~s~ , .~,~tw.,t_•