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Home My WebLink About0122 t , ~ i Urrtpont~t Covan~~ra. Borrowec snd Lender oovenant and a~ree u foqows: i l. l~e~t ot lri~C~NI aod 1~teral. Bo~ro~wer thall promptlY paY when due tbe principal of and intercst on the ; indebcedna• evideaad by the Nae. Prepayment aad late char~es as Qrovided i~ the Note. and tl~e principal of and interest ! on any Future Advaaces secured by this Mort~s~e. : R~~ for 7'ua a~d Lwe~nca Subject to applicabk law or to a written waiver by Lender. Borrowe~ shall pay ; to i.e~de~ oa the day monthly i~stalla~enb of priacipal and intcrest are payabk under the Note. uatil the Nota is paid in fuU. a ~um (herein "Fuc~ds'7 oqwl to oao-twelfth of the yearly taxes and asseasments which may attain prioriry over this Mort~a~e. and ground reuts oa the Pc+operty. if ~ny. plus onatwelfth ot yearly premium installments for hazard insurance, plus oac-twelfth of yeariy preraium instaliments fo~ mortgsge i~uurance. if aay. all as reasonsbly estimated iaitially aad from ~ time to time by Lender oa tl~e basis of asseaments ancf bil~ a~d reasonabk atimates Wereof. 7Le Funds a6a11 be heW in an inatitution the depoaits or accounb of which an insured or _guuaateed by a Foderal or ' state agency (iacluding Leadu if Lender ia such an iastitution). Lender sball apply the Funds to p~y uid taxa. assestmeats, , 1 insuranoe ~emiurt~ and gronnd reaq. Leade~ may not chuge for so holding and applyina the Funds. analyziag aaid account, or verifyina and oompling asid auessmenta and bills. u~less Leader pays Borrower interat on tbe Funds aad applicable law permits Lender to make such s? clurge. Borrower and Lender may agnx in writing at the time of execution of this ' Mortgage that interat on the Fuads s6a11 be paid to Borrower, ar~d ualess such agroemeat is made or applicabk law ~ requirea such iaterat to be paid. Lender shall not be required to pay Bonower any interat or eamings oa tlte Funds. L:ender ~ shaU give to Bomower. witlwut charge, an annual aooounting of tbe Funds s6owing c~edits and debits to the Funds and the ~ purpose for which each debit to the Funds was made. T6e Funds are pledgod as additional securily for the sums secured ~ by t6is Mortga~ee. If the amount of ibe Fun~ heW by Lender, togethe~ with the future monthly installtnents of Funds payabk prior to the due dates of taues~ assessments. i~urance premiums and ground reots.:hall eaceeed the amount required to pay aaid taxa. ssuaa~nents, iasurance prcmiums and ground rcnts az tbey fal: due. such ezcess shall be. at Borrower's option. either promptly repaid to Bormwer or crodited to Bomower on moothly installments of Fuads. If the amount of the Fua~ held by L.ender shall not be suffcient to pay taxes, aasessments, iinurance premiums and ground rents as they fall du~, Borrower shall pay to Lender any amouat neoessary to make up the de8ciency within 30 days from the date notice is maile~ by Lender W Borrovver requestin8 paYmeat tbercof. Upoa paymeat in fuU of all sums secuted by this Mortgage, Lender ahaU prompdy refund to Borrower any Funds held by Lende~. If under paragraph 18 hereof the Property is sold nr the Property is otherwise acquicrd by Lender. L.ender shall apply. no later than immediately prior to the sale of the Property or its acquisition by I.ender, any Funds held by ~ Lender at t6e time of application as a credit against the sums secured by this Mortgage. ~ - 3• A~plkatio~ ot Ps,ymeats. Unless applicable law provides otherwise. all payments roceived by Lender under the t Note and paragraphs 1 and 2 ha+eof s6a11 be applied by Lender 6rst in payment of amounts payable to Lender by Borrower : uader patagraph 2 hereof, then to iaterest payable on the Note, then to the principal of the Note. and then to interest and { principal on any Futun Advances. . 4. C6ar=a; Lkos. Borrower shall pay all taxes, assessments and other_ charges, fines and impositions attributable to the Property which tnay attain a priority over this Mortgage. and leasehold paymenta or gcound rents. if any, in the manner provided under paragraph 2 hereof or. if not paid in such manner. by Borrower making payment, when due, direcdy to the payee thec+eof. Borrower shall prompdy furnish to Lender all notices of amounts due under this paragraph. SIId 1D Lt1C CYCOt Borrower sha11 make payment directly, Borrower sball promptly fumish to L.ender receipts evidencing such payments. Borrower shali ptomptly disc6arge any lien which has priority over this Mortgage; pr~ovided. Wat Borrower shall aot be required to discharge any such lien so iong as Borrower shall agree in writing to the payment of the obligation secured by ; such lien in a maaner avoeptabk to Lender. or shall in good faith contest such lien by, or defend enforcement of such lien ia. ~ legal proceedings w6ich operate to prevent the enforcement of the lien or forfeiture of the Property or any part tt~ereof. S• Husrd Iasorance. Boaower shall keep the improvements now existing or hereafter erected on the Property insured against los3 by 6re, hazards incfuded wit6in the ter[n "extehded coverage', and 3uch ottier hazards as Lender may requirt ~ and in such amounts and for soch periods as Lender may require; provided, that Lender shall not rtquire that the amount of such rnverage exceod that amount of coverage required to pay the sums secured by this Mongage. "ILe insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, pmvidod, - that such appmval shall not be unreasonably withheid. All premiums on insurance policies shall be paid in the manner provided under paragraph 2 hereof or. if not paid in such manner, by Borrower making payment. when due, dir~ectly to the ~ insurance curier. All iasurance policies and renewals thercof shall be in form acceptable to Lender and s6al1 include a standard mortgage clause in favor of and in form acceptable to Lender. Lender shall have the rig6t to hold the policies and reoewals thereof, and Borrower shall promp0y furpiah to I.ender all renewal notices and all receipts of paid pnmiums. In the .event of loss, Borrower shall give prompt notice to the insurance carrier aad Lender. Lender may make proof of loss if not made promptly by Borrower, Unle~ Lender and Borrower othonvise agrce in writing, insurance procceds shall be applied to restoration or repair of the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is not thereby itnpaired. If such ratoration or repair is not economically feasible or if the socurity of this Mortgage would . be impairod, t6e insurance proooods shall be applied to the sums secured by this Mortgage, with the excesa, if any, paid Ij to Borrower. If tbe Property is abandoned by Borrower, or if Borrower fails to respond to Lender within ~30 days from the date nodce is mailed by Lender to Borrower that the insurance carrier ofTers to setNe a claim for insuraace beaefits, I.ender ; is authorited to collect and apply the insurance procoeds at Lender's option either~o reatoration or repaiF of the Properiy -or to the swns secured by t6is Mortgage. • - Unless Lender and Bonower otherwise agroe in writing, any such application of proceeds to principal shall not extend ~ or poatpone the due date of the monthly installments referred 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, a!t right. titk and interest of Borrower ; ; in and to any insurance policies and in and to the proceeds thereof resulting from damage to We Property prior to t6e sale ~ ! or acquisition shall pass to Lender to We exteat of the sums socured by this Mortgage immcdiately prior to such sak or ~ acquisition. ~ 6. Praervatba and Maintenance ot Property; Lea~eholds; Coadominiums; Pfarmed Unit Devdop~aents. Borrower ~ ; shall keep the Property in good repair and shall aot commit waste or permit impairment or deterioration of the Property s and shall comply with the pmvisio~ of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a condominium or a planned unit development. Borrower shall per[orm all of Borrower's obligations under the declaration or covenants creating or governiag the condominium or planned unit development, the by-laws and regulations of the condominium or planned unit development, and constituent documents. If a condominium or planned unit development rider is exxuted by Borrower and rocorded together with this Mortgage, the covenants and agrcements of such -rider shall be incorporated into and shall amend and supQlemcnt the covenants and agreements of this Mortgage as if the rider were a part hereof. 7. Protcetb~ of Leode~'s Se~writy. If Borrower fails to perform the covenants and agreements contained in this s. Mongage. or if any action or proceeding is commenced which materially aHects l.ender's iaterest in the Propeny, r 3 including, but not limited to, eminent domain. insolvency, code enforcement. or arrangements or proccedings involving a ~ bankrupt or decedent, then Lender at Leader's option, upon notice to Bonower, may make such appearances, disburse such ' sums aad take such action as is na~sary to prot~t Lender's interest, including. but not limited to, disbucsement of ~ ` reasonable attomey's fess and entry upon the Property to make repairs. If Lender requircd mortgage insurance as a ~ ~ condition of making the loan socured by this Mortgage, Borrower shall pay the premiumt requirod to maintain such ~ ` iasurancx in ef~ect until such time a~ the requirement for such insurance terminates in aooordsnce with Borrower s and ~ i s i , y - ~ f ~ - - ecR~302 fr.~.E ~zz ~ ~ . s c ~ ~ 1.. ~ - °"~'y~ :z ~~~»4~'x ~„~.s. r`.~ _ : ~`.~s' x~~ -