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Home My WebLink About0159 UNIPORI~ COV8NAN7'!. Borrower a~d Lendet covenant and a6ra as follows: Z. t~west ot t~hc~l ~M INenst. Bortowe~ shall p~omp~l~• p~y when due tt~e principal of aod intercst on the ind~btedness evidenad by the Note. ptepayment and late cAargec ac provided in Ihe Note, and the p~nc~pa~ ot ied ~nterest oa any Futuro Advances secured by this Mortgase. 2. thNi tor TuM wi Iwn~ce. Subjcet to applicabk law ..r to a written waiver by Lender. Borrowe~ shall paY to Lende~ on Ihe day ma?thly i~stallments ot principal and intcrc~t erc payable unde~ the Note, until the Note is paid in tull, s sum (herei~ "Funds") equal to one-twelfth ot ~he yearls u~c. ~nJ assessments which may attain pnority over this Mottsaje. and Sround re~4 on the Pe~operty. if aoy. plus one-twel(th of yearly premium installmeots for huard insurance. plus ooe-tweltth ot yearly premium i~stallments tor mongage insurance, if aey, all as reuonably atima~cd initially and trom tim~ to time by Lender on the bua of asses.cmcnts a~d hills and reaaonable alimates thercof. 'ibe Funds shall be held in an institution the deposia or accounts of which are insured or guaranteed by a Federal ot state a~ency (i~cluding Lender if i.coder is such ao institutionl. I.ender ahall apply the Funds to pay said uxa, assessments. i~auranct premiums and arouod rcnts. I.ende~ may not charge for u+ holdi~~a and applyin8 the Funds• analyzing said account. or veriEyint and compilina said assessments and Ailla, unless l.ender pays Borrower intercst on ~he Funds and applicable law petmits Lender to make such a charge. Borrower and Lender may agree in writi~g at the time ot execu~io~ ot ihis Mort~aae that interat o~ the Funds shall be paid to Borrower. and unless such agreement is made or applicable law rcquires such interat to be paid. Leoder shall not be rcquircd to pay Borrower any intuat or earnings on the Funds. Lende~ shall give to Borrower, without charge. an annual accounting of the Funds showing credits and debits ta the Funds and the purpose for which each debit to the Funds was made. The Funds arc plodged u additional security [or the sums securcd by this Mortjaae. ' lf the amount ot the Funds heW by I~nder, togelher with the future monthly installments of Funds payable prior to the due dates of taxes, asxssments. insurance ptemiums and ground rcnts, shali exceed the amount rcquired to pay said taxes. ssseutne~ts. insunnce prcmiums and ground rents u they tall due, such excess shall be, at Borrower's op~ion, either pranpdy repaid to Bormwer or credited to Borrower on monthly installments of Funds. If the amount o( thc Funds held by L.eoder shall not be sut6cieat to pay taxes, assessments, insurance premiums and ground rents as they fall due, Borro~?er shall pay to Lender any amount nocessary to make up the deficiency within 30 days from the date notice is mailed by Leader to Borrower rcquating payment thereof. Upon psyment in full of all sums secured by this Mortgage, l.ender shall promptly rcfund to Borrower any Funds held by Lender. If under pusgraph 18 hercof the Property i~ sold or the Property ~s othenvise acquircd by I.ender, Lender shall apply. no later than immediately prior to the sale of the Property or ita acquisition by I.cnder, any Funds held bv I.ender at the tirrk of application as a credit against the sums securcd by this Mortgage. - 3. A~plicatioe oE PsymeNs. Unless applicable law provicies otherwise. all payments received by Lender under the Note and paragraphs 1 and 2 hereof shall be applied by 1_ender 6rst in payment of amounts payable to l.ender by Borrower uader paragraph 2 hereof, then to interest payable on the Note, theo to the principal of the Note, and then to interest a~d principal on any Futun Advances. . 4. C6artes; Lkos. Borrower shall pay all t~xrs. asses~mcnts and athcr charges. fines anJ impositions at~ributable to the Property which may attain a pnority over this Mortgage, and leacehold payments or ground rents, if any, in the manner provided under paragraph 2 hereot or, if not paid in such manner, by Borrower making payment, wh~n due, diroctly to the psyx thereo[. Borrower shall promptly [urnish to Lender all notices of amounts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrower shall prompUy dixharge any lien which has pnonty over ~his Mortgage; provided, that Borrower shall not be rcquired to discharge any such lien so long as Borrow•er shall.,;~,gree in wriung to ~he payment of the obligatiun securcd by such lien in a manner accep~able to Lender, or shall in gcxui faith conte~t such lien by, or defend enforcement of such lien in, legal proceedings which operate to prevent the enfurcement of the lien ar forfeiture of the Property or any part thereof. S. Hazard I~urance. Borrower shall keep the impruvements no~ existing or hereafter erected on the Property insured against loss by fire, hazards included withm the term "rzlended coverage", and such other hazards as l.ender may reyuire wd ~n such amounts and for such periods as Lender may reyuire: provideJ, that LenJer shall not reyuire that the amount o( such coverage excced that amount of coverage required to pay the sums cecured ~by this Mortgage. The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided, that such approval shall not be unreasonably withheld. All premiumc on insurance policies shall be paid in the manner provided under paragraph 2 hereo[ or, ~f not paid in such manner, by Bc~rrower making payment, when due, directly to the insurance carrier. ; AI( insurance policies anJ renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage ' clauu in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, i and Borrow•er shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. (n the event of loss. ` Borrower shall grve prompt notice to the ~nsurance carner ~nd Lender. Lertder may make proof of loss if not made promptly by Borrower. ~ Unless Lender and Borrow~er otherw~se agree in wntmg, insurance proceeds shall be applied to restoration or repair of ~ the Property damaged, prov~Jed such re~toration or repa~r ~s economically feasible and the security of this Mortgage ~s ~ not thereby impa~red. I( such restoraUOn or repair is not rconomically fea~ihlr or i( the securiry of this Mortgage w~~uld ~ be ~mpaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess, if an}•, paid ~ to Bor~ower. If the Property is abandoned by Borrower, or it Borrower fails to respond ta Lender within 3U days irom the ~ date notice is ma~led by Lender to Borrower that the ~nsurance carrier ofTen to settle a claim for insurance benefits, Lender E is auth~rized to collect and ~pply the insurance proceed~ at Lender's optiun e~ther to restorat~on or repa!r ot the Properl~~ or to the sums secured by this Mortgage. ~ Unlest Lender and Borrower otherwi~e agree ~n anting, any such application i~f pr~xeeds to pnncipal shall not ettend ~ or postpone the due date of the mcmthl}~ installment~ referred tu in para~traph~ I anJ 2 hereof or change the amount of ~ such installmenGi. It under paragraph 18 hereof ~he YroE,ert}~ ~s acyuued h} Lender, all r~ght, title and interest of Borrower ~ in and to anv tnsur~nce policies and in and to thr pr~eeds thereot resulnng fr<~m Jamage to the Propert}~ prior to th~ aaie or acquisition shall pass to Lender to the ertent of the wm~ iccured b~ this ~fortgag~ ~mmediately pnor to such sale or ~ acquisition. 6. Presenalion ~nd ~laiotenance of Propert~; (.easeholds; ('ondominiums; Planned Unit De~~elopments. Borrow~cr r shall kcep the Property in good repair and shall not comrUit y~aste or permit impairment or deterioration of the,Property ~ and shal) cvmply with thc provis~ons of any lease if thu Mongage i, un a Icaxh~~ld. If this Mortgage is on a unit in ~ ; conJominium or a~lanned unit dc~elopmen~, Borrowe~ shall pcrt~~rm all of Bormwer's obligations under the.declarati~~n - or covenants creatmg or g~~vernmg the condominium or planned unit development, ~he by-laws and regulationc of the condominium or planned unit developmem, .md cunstiwent J~xument~. If a cunJominium or planned umt development - nder is executed by Borrower and recorded t~~gether Kith th~. M~~rtgage, the covenants and agreements of ;uch rider shall bt incorporateJ into and shall amend and wppl~ment the cu~cnanl~ an~ agreements of this Morigage as if the riJer were a part hereof. 7. Protection of I,ender's Security. If B~rr~~wer f:+~l~ t~~ Exrl~~rm the covenant~ anJ agreements cuntained in thia t Morlgage. or ~f any acUun ur prckeedmg i. cummrnce~i •ah~ch m;~leriall} .itTrct~ I.en~ler'ti intere+t in 1he Pri~per~y. mcluding. but n~~1 I~m~ted w. eminent doma~n. in.~~henr~, axir rnl~~rccmrn~. ~~r erranKcmrnl~ c~r pr~KCCdings ~nvohing a bankrupt or Jecrdent. then I.ender •rt I.ender'ti opuon, u{x~n n~~tice t~~ Borrower, ma~ m:~kc w:h ap~xarance,, d~~hurse such sums and Iake such actiun a~ ~s ne~e~~ar}~ tu pmtect Lender'c mtrrest, inclu~ling. hut nc~t limited to, di~bursement ~~f ~ reasonahle attamey~ti frcti and cn~ry u~~n the Yrc~pcr~~ to mekc rcpair~. It Lrndrr rcyuir~J m~•rlgage in~urance as a cundm~~n ~,f niaking thc loa~ .ecured b} thi~ ~t~+n~a~t. B„rr~,Hrr sh.ill ~.a~ Ihr prcmium~ rcy~nreJ ti~ maintain ~uch ~ insu~ance in ettect un~d tiuch timc rs thc rcyuirement fi~r .u.h in~uranrr trrnunatr. ~n .~r~~,rdancc w~th Bi~rr~,wcr'. and e ~ g?~r 3U4 ~,SV ~ ~ . { ~ . ; ~ r ~ 4., ' ` ,~~.~~.~,~~"~;~z'" _ . _ _