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Home My WebLink About0842 Un~raw Covat+~H1s. Botrower and Leader covenant and asne u tollows: ti. ~N ~t hi~c~l M lNe~eM. Borrowe~ shall prompUy psy when due tl~e principal ot and inte~wt oo the indebtednea evidenoed b~r the Nota. pcepaytnent ~nd Iste c1+ar~ea ac ~ovided in the Nae. and the principd ot and inte~+est oa aay Futuoe Advaaces sxwed b~? t!?is Mortss~e. • t Ewia tor Ta~~ a~i Uiwrrce. Subjeci to applicabk law to a written waiver ~y l.ender. Borio~e~ shdl My to Lender on the day monthly installments of principal and imcrcc~ arc ~ayahk unde~ the Note, until the Note is paid in full. a sum (hereio "Fur~dt'7 eqw! to one-tweltth ot the yea~l~~ ~a~?~~ anJ asxssments which msy attain prioritY ove~ this Mort~a~e. and ~round reab on tbe Pt~npcrty. it any. Flus one•tweltth oi yeuly prcmium inuallments for hazard inw~ance. plus o4e-tweltth ot yearly premium installments tor mortea=e insu~ancc. it any, sll ss rcasonably estimated initially and trom time to time by Lender on tbe buis of assessmen~s and hills aod rcaaonabk atimata thercof. . The F~unds shall be beld in an inslitution the deposia or accouots of w~hich are insured or gwrantad by a Federal or state asency (includina Lender if L.ender is such an ins~itution). I.ende~ shall spply ~he Funds to pay said taxa. assessments. inwcance p~emiums and ~mund rcnts. I.ender may no~ charge lor u~ holdina and applyins the F~mds. analyzinj said accoun~ or verifyin~ and complins uid usessments and bills, unless Lender pays Borrowe~ inlercst on the Funds and applicable !aw permiq Lender to make wch a chat~e. 6orrower and .l.ender may asrce in w~tin` at ~he time ot execution o[ this Mori~a~e tbat interat on Ihe Fuads shall be paid to Borrower. and uakss sucA agrcemen~ is made or applicabk law requira such intaest to be paid. Lende~ shall not be requircd to pay Bo~rower any intcrest or earnings on the Funds. l.ender shaU pve to Horrower. witlaut charge, an annual accounting of the Funds showing credits and debits to ~he Funds and the purpose for which each debit to tbe Funds wu mado. The Funds arc plodged u additional security for the sums socured by t6i: Mortp~e. . If tbe amount ot the Funds hdd by I.ender, toge~her with the future monthly installments of Funds payabk prior to t6! due data of tua. aueuments. i~urance premiums and ground rents, shall exceed the amount required to pay said taxa, ass~anents. iaiuranee prcmiums and ground rents as they fall due, such exceu shall be. at Borrower s op~i~n, either promptly repaid to Borrower ot creditod to Bormwer on monthly installments of Funds. If the amount of the Funds bdd by Lendsr shdl not be sut6cieat to pay taxes. assessments, insurance premiuros and ground rcnts ss they fall due. Borr+o~er sball pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed by Leader W Horrower requatina payment thercot. Upoa payment in full of dl :wns secured by this Mongage, 1_ender shall promptly refund to Bormwer any Funds held by Lender. I[ under paraaraph i8 herco[ the Propeny ia sold or the Property is othtrwix acquic~ed by Lender. Lender :ball apply. no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held bv L.eoder at the time of application ~ a crodit against the sums secured by this Mortgage. 3. A~licatla~ ot l~me~s. Unlas applicable law provida otherwise, all payments received by Cender under the Note aad paragtaphs 1 and 2 hereof shall be applied by l.ender first in payment of amounts payable to Lender by Borrower ~ under paragraph 2 hec+~ot. tben to iaterest payabk on the Note, then to the principal of the Note. and then to interat and principal on any Future Advanca. 4. C`ar~a; Litas. Borrower shall pay all taxes, asseuments and other charges. fines and ~mpositions attributable to tbe Property which may attain a priority over this Mortgage, and leasehold payments or ground rcnts, if any, in the manaer p~+ovided under patagraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, dircctly to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, aod i~ the eveat Borrower shall make payment diroctly, Borrower shall promptly furnish to l.ender rereipts evidenc~ng such payments. Borrowe~ shall promptly discharge any lien which has priority over this Mongage; provided, that Borrower shafl not be ~squircd to dixharge any such lien so long as Borrower shall agree in writing to Ihe payment of the obligatiun securcd by such lien in a manner acceptabk to Lender, or shall in good faith contes~ such lien by, or defenJ enforcement of such lien in, lega! proceedings which operate to prevent the enforcement of the I~en or forfe~ture of the Property or any part thereof. S. Hazard iawra~ce. Borrower shall keep the improvements now~ existing or hereafter erected onthe Property i~sured against loss by fire, hazards included with~n the term "extended coverage", and such other hazards as I_ender may require and in such amounu and (or such periods as Lender may reyuire: provided, that Lender shall not requirc that the amount of such coverage exceed that amount of coverage required to pay ~he sums secured by this Mortgage. 'R~e insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lencfer: provided, t6at such approval. shall not be unreaconably withheld. All premiums on insurance policies shall be paid in the manner provided under paragraph 2 hereof or, ~f not pai~ in such manner, by Borrower making payment, when due, directly to the iawrance carrier. ~ All insurance policies anJ renewals therrof shall be in form acceptable to Lender and shall inctude a standard mortgage clause in favor ot and in form acceptable to Lender. Lender shall have the right to hold the policies and renewais thereof, and Borrower shall p~omptly furnish to Lender all renewal notices and all receipts of paid prcmiums. In the event of loss, ~ rom 0 Bortower shall give prompt notice to the insurance carrier and Lender. 1_ender may make proof ot loss ~f not made p p y ~ by Borrower. ( Unless Lenckr and Borrower othen~~~se agree in writing, insurance proceeds shall be applied ro restoration or repair of ~ the Property damaged, provided such restoration or repa~r is economically feasible and tFie security of this Mortgage is ~ not thereby impaired. If suc:h rcstoration or repair is not economically (easible or if the security of this Mortgage w~uld ~ be impaired, the insurance procetds shall be applied to the sums secured by ttiis Mortgage, with the excess, if any. paid to Borrower: If the Propeny. is abandoned by Borrower, or it Borrower fails to respond to Lender within 30 days from the ~ date notice is mailed by I.ender to Borrower that the insurance carrier ofters to settle a claim for insurance benefits. L.ender ! ~ is authorized to colkct and apply the inw~ance procceds at l.ender's option either to restoration or repair of the Propert~~ = or to tbe sums secured by this Mortgage. ~ Unl~ss Lender and Burrower othervri,e agree m writing, any such applica~ion of proceeds to principal shall not extend ~ or postpone the due date of the momhly installmcnts rcferred t~. in paragraph~ 1 and 2 hereof or change the amount of ~ such installments. I( under paragraph 18 hereof the Property is acywreci h} LenJer, ali nght, title and interat of Borrower _ ~ in and to any insurance policies and in and to the proceeds thereof resulnng from damage to the Propeny prior to th.: sale ~ or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or ~ acquis+tion. ~ .6. praenatioo and Maintenance of Property; f.easehulds; Condominiums; Planned Unit Devebpments. Borrower r; shall Iceep the Property in good repair and shall not comroit y~'aste or permit impairment or deterioration of the Property ~ and shall compl~• with the provis~ons of any lease th~s Murtgage i~ un a leaschold. If this Mortgage is on a imit in a - ~ condominium or a planned umt devrlopment, Borrower shall ~?erform all o( Borrower's obligauons under the declaration or covenants creaUng or governmg Ihe condommium or planned un~t development, the by-laws and regulations of the ~ condominium or planaed unit development, ~nd constituent documeniti. It a condominium or planned unit development rider ~s executed by Borrow•er and recorded tuge~her K~th thi~ Mortgage, the covenants and agreements of such rider shall be incorporated into and shall smend •rnd supplcment the c:~~enants anJ agreements of this Mortgage as if the n~er were a part hereof. r 7. - Profection of I.ende~'s Securffy. If Rorr.,uer (a~lc t~~ ~rf~um the covenantc an.l agreements contained in this Mortgage, or if any acuon or proceeding i. cummcnce.l wh~ch materially afTccts I.en~ler's mtere+t in the Property. includmg. but n~~t limited ta. em~nent domain, in~..l~enr~, cuJe rn(urrement. or arrangememc or proceedings invol~~ing a bankrupt or deceden~. ~hcn LenJer at LenJer'~ opuon, uEx~n noUce ti~ Borraw~cr, ma~ m:,ke Such appearances, disburse such ~ sums and take such acliun a~ is nece~tiar~• t~~ prutect LenJer's mtrrest. inclu~l~ng. but not Iim~teJ to, disbursement of ~ reasonable attomey's teec and entry u~x.n ~he Pmperly to m~ke repair~. 11 Lender reyuireJ mortgage incuranee ac a z~ cond~Uon c~( making thc loan ticcured h}~ ~h~ti At~~rtg:~gc. B~~rruwrr sh:dl pay thr prcmiwm reqwreJ to maintain such ~ insurance in etiect until ~uch t~me as the reyuirement f~~r .uch ~nsuranee Ierminrtrs in :~c~ordanee N'11F1 BOffOWCf S and ~ . • . : 9~C!( ~0.~ P„~~ ~ ~ ~ ~ ! _ rF~ ;.~a _ ~ ~ ~ . _ - ~ ~ - _ , _ . ~~_ti