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Home My WebLink About0665 ~ , ~ UN~FatM CovEH~Nrs. Bor~ower and i.ender cuvcna~t and aRrre :~s follows: _ 1. ~meat of Priaclpd aed Ialerest. &~~mwe~ .haU pmmptl~ pay whcn due the ,princip~l ~f a~d intereu on the iadebtednets evid~nced by the Note. prep~yment and late chargr~ a. provided in thc Nate, and the principal of and ioteres~ on aay Futurc Advances secured by ~his Martgage. 2. Ftieds tor Tuea aai lawrsece. Subject ta applir~hlc I~w ~o a w~~ittcn waivcr by l.ende~. Borrower sha11 pay t~ l~nder on the daY monthly instaltments ot principal ariJ mtrrr.i .u~ payable um)cr thc Note, until the Note is paid in full. ~ a:um (herein "Funds") iqua! to onc-tweifth c?f thC yra~l) 1;~~~+ anJ ascescmen~c which may attai~ prioriry over this Mort~age, and ground re~ts on the Proper~y, if any. plus onc-twel(th ot yearly premium ins~allments for hazard insuraace, ~ plus one-tweltth of yea~ly prcmium installments tor mortgage ins~irancc. if any, all ac rcasonably tstimated inilislly and irom } time to time by l.ender on the basis of asscssrticn~s and hills and re•r~nnable estimata thereof. 'Il~e Fureds :haq be hcld in an institwion ~hc dep~x~u or accounts ot which are inwrcd or guaranteeci by a Federal or state ageocy (iocluding Lender it L.cnder is auch an in~ti~utio~). I.endcr ~hail apply thc Fuods ta pay said ~axes. asscssments, insurance premiums and ground rcnts. t.ender may not charge tor scti holding and applying the Fundc'analyzing caid account. or verifying and compiling said assessmen~s and bills, unless l.ender pa~~s Borrawer interest on the Funds and applicable law permits l.ender to make such a charge. Borrower a~d I.ender may ag~ee in writing at the time o( execution o[ this Mortgage that interest on the Funds shall t+c paid ta Born~wet, and untess such agreement is made or applicable law t+equires such intercst to be paid. l.ender shall no~ be rcquired to pay Borrower any interest or earnings an the Funds, Lenckr sbaU aive to Borrower, without charge, an annuai accounting of Ihe Funds showing credits and debits to the Funds a~d the ' purpo~ fo~ which eaeh debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Mongage. ~ lf the amount of the Funds held by Lende~, together.with the tuture monthly installments of Funds payab{e prior to ; the due data of taxes. assessments. insurance premiums and ground rents, shall exceed the'amount requircd to pay said taxa. assepments, insurance prcmiums and gcound rents as they falt due, such excess shall be, at Borrowei s option, either praupdy repaid to Borrower or credited to 8orrower on monthly installments of Fu~ds. !f the amount of thc Funds beld by I.ender shall not bt suft'icient to pay taxes. atxssments, insurance premiums and ground rents as they fall due, Borrower shall pay to [.ender any amount necessary to make up the deficiency within 30 days from the date notice is mailed by Lender to Borrower requating payment thereof. - - Upoa payment ia full of a!! tums securcd by this Mortgage. 1_ender shall promptly reftmd to Borrower any Funds , held by L.ender. If under puagraph 18 hercot the Property i~ sold or the Property is dhenvise acquired by [_ender, l.ender shall apply, no later than imraediately prior to the sale of the Property ar its acquisition by l.ender, any Funds held by Lender at the time of application as a credit against the sums secured by this MorUtage. 3. A~pucatios ot Paymesfs. Unless applicable law provicles otherwise, all payments received by Lender unJer the Note and paragtaphs t and 2 hereof shall be applied by I.ender first in payment o( amounts payabk to Lender by Borrower under paragraph 2 hereof. then to interest payabie on the Note, then to the principa! of the Note, and then to interest and principal un any Future Advanoes. - 4. C6araes; Lie~s. Botrower shall pay all taxes, assessmen4s and othcr charges, fines and impositions attributable to tbe Pmpetty which rnay attain a priority over this Mortgage, and lea~ehold payments or ground rents. if any, in the manaer ~ provided tu~der paragraph 2 hereoE or, if nol paid in such manner, by Borrower making payment. when due. directly to ihe ~ payee t6eteof. Bomower shail promptly furaish to Lender al! notices of amounts due under this paragraph. and ia the event Bormwer shall make payment directly: Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrovver shall promptly discharge any lieo which has priority over this Mongage; provided~ that 8orrower shall not be requiral to discharge any such lien so long as Borrower shalt ag~ee in wrhing to the payment of the obligation securcd by ` sucb lien in a mar~nu accxptabk to Lender. or shall in good faith contes~ such lien by, or defenJ enforcement of such lien in. ; legal proceedings which operate to prevent the enforcement of the lien or torfeiture of the Property or any part thereof. S. Haza~d Inwrance. Borrower shall keep the improvements now existing or hereafter erected on the Property insurod against loss by firc, hazazds included with~n the term "cxtended coverage", and such other hazards ac Lender may iequire and in such amou~ts and for such periods as Lender may require; provided, that Lender shall not require that the amount of such coverage execed that amount of coverage required to pay ~he sums secured by this Monaage. 'Ihe inwrance catrier providing the insurance shall be chosen by Borrower subject to approval by I.ender, provi~d, t6at such approval shall not be unreasonably withheld. AI! premiums on insurance policies shall be paid in the maaner s provitkd uuder paragraph 2 hereof or. if not paid in such manner, by Borrower making payment, when due, di~ectiy to the inwrance curier. - All insurance policies and renewals thereof sball be in torm acceptable to Lender and shall include a standard mortgage ; ciause in fava~ of and in form acceptable to lxnder. Lender shall have the right to hold the policies and renewals thereof, ~ and Bonower shall prompdy furnish to Lender all renewal notices _and all reoeipts of paid premiums. In the event of 1oss, Borrowu shall give prompt notice to the insurance carrier and Lender. Lender may make proof of toss if not made promptly by Borrower. Unkst Leoder and Borrower otherwise agree in writing, insuraece procceds shall be applied to restoration or repair of th4 Property damaged, provided such restoration or repair is economically feasible and the socurity of this Mortgage is ~ not theteby impaired. If such restoration or repair is not economically feasible or i[ the security of this Mortgage would t be impaired, the insurance proceeds shall be applied to the sums securcd by this Mottgage, with the eaccess, if any. paid to Borrowtr: If the Propeny is abandoned by Borrower, or if Borrower fails to respond to Le~der within 30 days from the date nodce is maited by I.ender to Borrower that the insurance carrier offers to setde a claim for insurance benefits, Lender is authorizod to collect and apply t6e insurance procceds at Lender's option either to restoration or repair of the Propert~ ' or to the sums securod by this Mortgage. _ Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shalf not extend s or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of. ~ such insWllmeots. If under patagraph 18 hereaf the Property is acquired by I.ender, all right, title and interest of Borrower ~ in and to u?y iasurance policies and in and to the proceeds thereof resulting from damage to the Pmperty prior to thc sale or aoquisition shall pass to I.eoder to the extent of the sums secured by this Mortgage immediately prior to such sak or acquisition. 6. t:tstrrsl~oa aad Maiatenaace of Property; Lesse6olds; 4ondominiurns; Planaed UaH Derdopments. Borrower shalt kcep the Property in good repair and shaU not comro~t waste or permit :snpairment or deterioration of the Property and ahrJl comply with the provisioos of any lease if this Mortgage is on a leasehold. lf this Mortgage is on a unit in a, - t coadominium or a planoed unit development, Borrower shall perform all of Barrower's obiigations under the declaration ~ or covenants cruting or governing the condominium or planned unit development, the bylaws and regulations of the i condominium or planned unit development, and constituent clocumenls. If a condominium or plannad unit development ; rider is exocuted by Bonower and recorded togethe~ with this Mortgage, the covenants and agreements of such rider ~ ahall be ineorporated into and shall ameod and supplement the covenants aad agreements oF this Mortgagt as if the ricier i were a part hercof. ' 7. Pt~otecfbo of Leade~s Sccurity. lf Borrower fails to per(orm the covenants and agreements contained in this i Mottgage. or if aay action ot proceeding is commenced which materially affects Lender s interest in the Property. # including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings invol~•ing a banlcrupt or d~nt. tben L.eader at Lender's option. upon notice to Borrower, may make such appearances. disburse such ~ wms and take such action as i: necessary to protect (.ender s interest, including, but not limited to. disbursement of reasonabk attocney's (ees and entry upon the Property to make rcpairs. • lf Lender requircd mortgage insurance u a condition of making the loan secured by this Mortgage, Borrower shalt pay the premiums requirtd to maintain such insurance in effect until such time as ~he t+equiremeot for such insurance terminates in accordance with Borrowei s and c • Er K 299 PA6E 665 ~ ~ ~ ; - ~ r. u~r~~~~ r~ y' ~ ~ -~c~~ ti.. . _ . ~