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Home My WebLink About0284 ~ ~ 4 - ~ . UN~~M CoveN~Nrs. Borrower aad Leade~ covenant and a~ree u follows: 1• hU'~ ~~1 ~¦i Wer~M. Hon+ower thai) p~omptly pay when due t6e principal of and intercst on the i indebcednea evidenoed by tl,e Naa p~epayeaea~ ud laie ch~rses u provided ia ehe Nae, and the principal ot and interest ~ oa any Future Advaoces ~cwed by tb~ I~tortja~q. ~ .l~r¦i tor 7'aw a~i Iwa~w ~bject to applicabb bw or to a written waiver by L.ender. Borrower shall pay to I.~nder oe th~ day monthly instaliments of principai and interest are payabk under the Note, until the Note is pald in tull. f a sum (h~rein "Fuad~'~ equsl to a~e-twelfth ot the yearly taxa a~d Asseuments which may attain priority over this Mortsa~e. aud ~round renb on tbe pmperty. it aay, plus oae-tvrelith o[ yeuly premium instaltmenb for huard i~uurance. plus ooe~tweltth ot yearly premium iasWlmenb to~ nwct~e insurance, it any. all as ressonabfy estimated initialty and fran dme to /ime by L.eoder on tbo basa of w~smenu sud bilb and rcasonabk eatimates thereot. The Funds slsall be beld ia ao io~titutio~ tbe daposita or accounts of which am inwred or ~uaranteed by a-Fe~eral o~ ' state aQency (includinj l,ender if I.ender a such an iatitution). Lender shall a the Funds to i PP~Y P~Y uid tua. as~ssments. ; iaturanos p~rmium= aad pnuod renq. I.ender rray not chuze for so holding and applyin8 the Pun~. an~lyzins uid account, ~ or verifyias and oompilins uid astasments and bilb. unless Leode~ pays Borrower interat on the Funds and applicable law pw~mits l.ender to nlake tuch a char~e. Borrower and Lender may agree in writing at the time of execution ot tha i Mort~aje that intw+eat oo the Fundt sball be paid to Borrower. and ualas such agreement is made or applicabk law ~ requires such intereu to be paid. Lender tha11 not be required to pay Borrower any interat or earainp on tbe Funds. Lende~ ~ sha11 pee to Borrower. witbout ebuge. an aanual aceounting of the Funds showing crcdits and debiu to the Funds and the purpose for which ach debit to tbt Fuads waa made. 'R~e Fun~ are pledged as additional ~curity for the surru secured by this Mort=a~e, If tbe amount of the Funds hdd by Lender. toaether with the future mo~thly installments of Funds payabk prior to i ~the due data of taxes~ auessments~ i~uurance pnmiums and ground rents. ahall exceed the amount required to pay aaid taxes. ~ asswments, insunnoe prcmiums aad ~r~and ronts as they fall due. auch exceu shall be. at Borrower s option. either pranptly repaid to Borrov?~er or credited to Borrower on moathly installments of Fuads. If the amount of the Funds held by Leader shdl not be suflkieat to pay taxes, asxssmcnts. insurance premiums ~d ground rents as they fall due, Borrowe~ shall pay to Lender any amount necasary to make up tbe deficiency within 30 days from the date notice is mailed by Lender w Horrower requesting payment thereof. i Upoa payment in fuU ot all suau ~tcured by this Mortgage, I.ender shall promptly refund to Borrower any Fun~ ~ held by Leader. If under pars~raph 18 hereof the Property is sold or the Property is othervvise acquired by Lender, I.ender ~ shall spply. no later than immediately prior to the sale of the Property or its acquisition by Lender. any Funds held by ~ l.ender at the time of applicatioa u a credit againat the sums secured by this Mortgage. 3• A~plkatioa ot ~'q~sats. Unless applicabk law proviJes otherwise, all payments received by L.ender under the Note and puagraphs 1 and 2 hereof shall be applied by Lender first in payment ot amountt payable to Lender by Bormwer under puagraph 2 hereof. t6eQ to interest payable on the Note, then to the principal of the Note. and then to interest and principal on any Future Advanoes. - I• C4~rsa; Lkns. Borrower shall pay all taxes, asscssments and "other charges, tina and impositions ~ttributabk !o the Propetty which may attain a priority over this Mortgage, and leasehold paytnenta or gc+ound rents. if any, in the maaner provided under paragraph 2 hereof or, if not paid in such manner. by Borrower-making payme;at, whsn due. diroctly to the P~Ya ~~f. ~~WU shs11 promptly furnish to Lender all noaca oE upouuts due under this Parajrapb, and in tbe event Borrower shall make paymeot. directly, Borrower shall promptly fumuh to I.ender roceipts evidencin~ such p~rmenu. Borrower shall promptly discharge any lien which has priority over this Mongage; provided~ that Borrowu shall not be required to discharge any such lien so long as Borrowcr shall agree in writing to the payment of the obligation secured by such IiEn in a manner aoaptabk to Lender, or shall in good fai~h contes~ such lien by, or defend enforcement of such liea in, legal procoedings which operate to prevent the enforcement of the lien or fodeiture of the Property or a~y part thercof. S. Hasard Insarsnce. Borrower shall keep the improvements now existing or hereafter erected on the Property insured again:t loss 6y fire. hazatds included within the term "extended coverage", and such other haurds u l.ender may requirc and in such amounts and for auch periods az Lender may require; provided, that Lender shall not rcquire that the amount of such rnverage exceed that amount of coverage required to pay the sums secured by th'is Mortgage. . 'ibe iawran~x carrier providing t6e ipsurance shail be chosen by Botrower subject to approva! by Lender. provided, that such approval sball not be unnssonabiy withheld. All premiums on inaurance policia shall be paid in the manner provided under u ra 2 hereof or if nM id in such Ii P a8 Pn , manr~er. b Borrower malcin t when due di to the f Pa Y 8 PaY~ , .~Y inwrance curier. ! All iuwranoe paliciec ~~c~ ~w~ ~s~f sttall be in form acceptabk :c ~..-.^wr and shal! iaclude a standard mortgage ~ ~Isuse in favor of and in form acceptabk to Leader. Le~der shall havc the rig6t to hold the policie~ and renewals thereof. aud Bornower shall promptly furnuh to Lender ~U renewal notices and all raxipta of paid premiums. In the event of loss, € Bormwer shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loas if not made promptly by Bonower. - I Unleu Leader and Borrower otherwise agree in writing. insurance proceeds shalt be appliod to ratoration -or repair of ! the Property dunaged, provided auch restoration or repair is economically feasible and the security of this Mortgage is ~ nat thenby impaired. I[ such restoration or c~epair a not econc~mically feasible or if the security of this Mortgage would $ be impaired, the insurance proceeds sha11 be applied to the sums sxured by thia Mortgage, with the ea~ass, if any, paid to Borrower. If the Propeny is abandoned by Borrower, or if Borrower fails to respond to Leoder within 30 daya from the date notice is mailed by Lender to Borrower that the iosurance carrier ofters to settle a claim for insuraace bene6ts. Lender is authorized to collect and apply t6e insurance proceeds at Lender's option either to reatoration or repair of the Property ~ or W the swns secured by this Mortgage. ~ Udsss L.ender and Borrower otherwise agree in writing. any such application of proceeds to principal shall not extend ~ or pcutpone the due date of ihe monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of wch instaUmeots. If undar paragrap6 18 6ereof the Property is acquircd by L.ender~ all right, titla and interat of Bonower ~ in and to any insurance policia and in and to the procecds thereof resulung from damage ro the Propeny prior to ihe sale ~ or acquisition sh,~ll pau to Lender to the exteat of tbe sums securod by this Mortgage immediately prior to such sak or acquisition. ~ f. lreaerrados md Maiteoa~ce of Property; Lebebold~ Coadomiaiums; Planned Udt De~dopa~eots. Borrower ~ ahall keep the Property in good repair and s6all not commit vnaste or permit impairment or deteriotation of the Property ~ ~ and shall comply with the provisioas of any kase if this Mortgage is on a leasehold. lf this Mortgage is on a unit in a condomiaium or a plarmed unit development, Borrower shall perform all of Borrower: obligations under the dcelaratioa ' or coveaants creating or governing the condominium or pl~nned unit development, the by-laws and ngulations of the ~ condominium or planned unit development, and constituent documents. If a condominium or planned unit development ~ rider is executed by Borrower and recorded together with this Mortgage, the covenants and agreements of such rickr ; shall be incorporated into and ahall amend and supplement the covenants and agrcements of this Morigage as if the rider ` were a patt hereof. ' 7. Protection ot Lender's Securi lf Borrower fails to rform the covenants and : ~9• pe agreements contained in this ; Mortgage. or iE any action or proceeding is commenced which materially aHects Lender's intercst in the Property. ~ including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a ~ bankrupt or decedent, then Lender at Lender's option, upoo notice to Borrower, may nzake such appearances. disburae such ~ sums and take such- action as is necessary to protect I.ender's interest, including, but not limited to, disbursement ot ~ reasonable attorney's fees- and entry upon the Property to make repairs. If Lender requircd mortgage insurance as a conditioa of making the loan secured by this Mortgage. Borrower shall pay the premiums required to maintain such ~ insurance in effect until such time as the requiremeat for such insurance terminates in accardance with Borrowe~s and _ ~ 299 284 ' ~ PACE ~ - . 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