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Home My WebLink About0690 UntwRw CovaH~Nts. Hotrower aad l.eade~ covenant aod a~roe u follow:: 1 lww~at ot ~el~t a~i 1Neeert. 8ormwu shall Pr~P~~) MY when due tbe priacipal ot and interat o~ the indebted~ evidenoed by the Note. p~epayme~t and late char~cc a~ ~uovided in ~he Nota, aod tha priecipal ot and interest on any Fwura Advances ~ecured b,y this Mortsa=e. Z. !ti¦i hr T~ ri Gw~a~e~. Subject to applicabk law ~u to a writtrn waive~ bq L~de~. Bon+o~rsr iAal! psY to Leeder on tAe day monthly installmeots ot principal aeN1 in~crec~ ~rc payaMe under the Note, u~til the Note is paid in tull. a sum (hsroin "Fw~dt'7 ~qua1 to a~e-twel(th ot the yea~l~• ta~?~Y anJ zssasmeots which iaay attain priority ove~ this M~i~. ~ iround raita on tbe Pt~operty. if any, plus a~c-~we1Rh of yearly prcmium• installments [or huard inwrance. plus.one-twetfth ot yearty premium iostaUments for mortgaae ins~~nnce, it any. all ss reasonably estimsted initially and troaa time to time by Le~der on tbe bssis ot usessmcros and hills and rcasooabk atimates theieof. The Funds shall be heW io an institu~ion ~he deposiu or •rccounts of which are iowrod or =uaanteed by a Fsder~l ot riate sjeocy (includina Leuder if Lender is such an i~stitutionl. I.snder shaii appty the Fw~ds to pay uid taxa. astasmentt, iru~n~oe ptemiums a~d ~touad rcnts. I.ender may not cAsrae for u+ holdins and aPplYin~ the Fuodt. analyzin~ said account, o~ verityint_am1 oomplinj said auessmentt and bills. un{as Lender pays BoROwer intercst on the Funds and applicabk law permits I,ender to make such a char~e. Borrowe~ and l.ender may a~rce in wcitin~ at the time ot exccution oi this Mortpje t6at interat oo the Fuads shall be pvid to Borrower. and unkss wch ajrament is made o~ applicabk taw cequira such inte~at to be paid. Lender shall na be required to pay Borrowe~ any intercst or arnings on the Funds. Lender s6sq pve W Borrower~ without chuje, an an~wl accountina of the Funds sho~wina credits and debits to the Funds and the ~~~or rvhich es~ debit to tbe Funds was made. The Fu~ds arc plodged as additiooal sacurity for ~he sums socured ottsa~e- If tbe anaunt o[ tbe Fuudt I~eW by Lender, together with the future monthly installmeots of Funds payabk prior to . tbe due data of taxes, a~sasrneats~ in~utance premiums and ground rcnts, shall ezceed the artwunt requircd to pay said taxa. at~att~ iiuuranca premiums aad around renu as they fall due, such excess shall be. at Borrower's oplion, eithe~ proo~ptly repsid to_ Borrvwer or credited to Borrower oe monthly installments oE Funds. If the amount ot the Funds held b'~? Lendtr shall not be ~t to pay taxa. a~nts. insurancr p~emiums and ~round rents as they fall due. Horroae~ sball pay to I.ender any amount neoasary to make up the deficiency within 30 days from the date notice is mailed bY I.eoder to Borrower requestioi P~Yment theroof. Upoa payment in full of W sw~ securcd by this Mortgage, l.ender shall promptly refu~d to Borrower any Funds held by Leoder. If under parajraph 18 hereof the Property ia soW or the Pmper[y ~s otherwise acquired by Lender. Lender ~all apply, no later than immediately prior to the sak of the Property or it: aequisition by Le~der~ any Fund. held bv Lender at the time of application a: a credit against the sums secured by this Mortgage. 3. A~iicatio~ at lq~e~b. Unlas applicable law provida otherwise. all payments roceived by Lender under the Note and paragcapbs 1 and 2 ixceof shall be appl~ed by Le~de~ first i~ payment of amounts payabk to Ler~de~ by Borrower uader paraaraph 2 he~of. t6en to interat payabk on ihe Nwe, then to the principal of the Note. and then to intercst and ~ priacipal on aay Fu[ure Advanoos. 1• C~e~ Lit~s. Borrower shall pay all tazes, ass~ssments and other charges, fines and impositions attributable to tbe Property which may attain a priority over this Mortgage, and ieauhotd payments or ground rtnts. if aay. in the manaer Proyidod unde~ W~sgnph 2 hereof or, if not paid in such manner, by Borrower making paymenf. whea due. directly to the payee tl~ereof. Botrowu ahall promptly [urnish to Lender all notices of amouat3 due under this parajraph. and in the event ~ Borrower shall make payment directly. Borrower shall promptly fumish to [.ender receipts evideocing such payments. 8orrowrtr shall pranptty diachuge any lien which hu priority over this Mortgage; provided, that Borrower shall not be rcquired to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by wch lien in a manner acoeptabk to I:ender. or shall in good faith contest such fien by. or defond enforctment of such iiee in, kgal procadings which operate to provent the enforcement of the tion or forfeiture of the Propcrty or any part thereof. s• Haz~rd Iaa~e. 8orrowe~ shall keep tAe improvements now• eaisting or heteafter erected on the Property insured agaipst loss by Rrc, hazards.included within the term "extended coverage", and such other hazards as Lender may requirc and in such amounts and for such pcriods as Lender may requirc; provided, that Lender shall not•require that the amount of wch coverage exceed t6at amount of coverage required to pay the sums socurcd by this Mort6aa~ee. 'Rx insuranve carrier providing tbe insurance shall be chosen by Borrower subject to approva) by Lender, provided. that wch approval sha11 not be unreasonably withheld. All prcmiums on insurance policies shail be paid in the manner provided under patagraph 2 hereof or. if not pai~ in such manner, by Borrower making payment. wheo due. directly to the i~uraace curier. - All insurance policies and rgnewals thereof shall be in fornn acceptable to Lender and shall include a standard morigage clause in favor of and in form ~ceptable to Lender. Lender shall have the rigbt to hold the policia and renewals thereof. and Borrower shall promptly futnish to Leoder al( renewat notices and alt rcceipts of paid prcmiums. In the event of loss, Borrowor shal! give Qrompl notice to the in~urance carrier and l.onder. Lender may make proof of loas if not made promptly by Borrowet. . ' Ualaa Lender and Borrower othenvix agree in wnting, insurance proceeds shall be applied to rcstoration or repair of the Propecty damaged, provicied such restoration or rcpair is economically feasibk and the security of this Mortgage is not theteby impaircd. If such restoration or repair is not economically feasible or if the security of this Mortgage would be impaired, the insurance proceeds shall be_applied to the suma secured by this Mortgage, with th~ eaccas. if any, paid to Borrower. If the Property is abandonai by Sorrower, or if 8orrowet faifs to rapond to Lender within 30 days from the datc aotice is mailod by Lender to Borrower that the iruurance carrier o$ers to settle a claim for insnrance benefiES, Lender ~ is authorizod to collect and apply t6e insurance prooeeds at Lender's option either to restoration or reQair of tbe Property or to the wms xcurod by tDis Mortgage. Unless Lender and Botrower othen+~ix agree in writing, any such application of Proceeds to Principal shall not extend or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of sucb installmeuts. If under paragraph 18 hereot the ProF,eny is acquired by Lender, all right. titk and interest of Borrower in and to any huurance policies and in and to the proceeds thereof resulting from damage to tbe Propetty prior to th~ sale or aequisiqon shail pau to L.ender to the ea~tent of the surm socured by this Mortgage immodiatdy prior to such sak or asquisition. f. Preaervatbe aod Maioteaaact of Property: Lessebolds; Condominiums; Planned Ueit perebpmept~, gorrower shall koep the Property iu good reptir and shall not comiqit yvute or petmiC impairment or deterioration of the Property aod shatl comply with the provisioas of any Iease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a condominium or a planned unit development, Borrower shall perfo~m all of Borrower s obligations under the declaration or coveaants creating or governing the condominium or planned unit development, the by-laws snd rcgulations of the condominium or planoed unit development, and constituent eiocumen~s. /f a condominium ot ptanned unit cieveiopment rider is executod by Borrower and recorded together with this Morigage, the covenants and agreements of such rider shall be incorporated into and shall amend and supplement the covenants and agreeritents of this Mongage as if the rider were a part hereof. ~ - ProfecUoa ot Lende~'s Seeurify. If Borrower fa~ls to perform the covenants and agreements contained in this Mortgage, or if any activn or proceedrng ~s commenced which materially affects Lenckr's interest en the Propetty, including, but not limited to, eminent domain, insolvency, code enForcement, or arrangements or proceedings involving a bankrupt or decedent, then L.ender at Lender's option, upon notice to Borrower, "ma}~ make such appearances, disburse such sums and taice such action u is necessazy tu protect Lender's interest. including. but not limited to, disbursement of rcasonable attomey's tees and entry upon the Property to makc repairs. If !_cnder reqeiired mortgage insurance as a condition of making the loan xcureJ by this Mongage. Borrower shall pay the .premiums requirai to maintain such in~urance in eBect untii such time as the reyuirement [or such msurance terminates m accordance with Borrower s and : E~GK 299 PAGE s90 , I _ , " ~ r_ ~ _ , ~ ~ . _ ~ ~ ~ ~