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Home My WebLink About0042 UNIPORI~ COVBNAtiTS. Borrower and L.eoder rnvenant and a~ra u follows: l. PqreN ot hi~e1M1 ri l~tensf. Botrowe~ shall promptl~ paY when due the priocipal ot aod i~tere~ on the indebtednas evideaced by the Note. Prepsyment and late chargcc ac ~xovided in the Note. ar~d the principal ot snd intercst a~ any Future Advances secuoed by this Mortgase. 2. Fr~i [or Ta:a aai 1wrNCe. Subject to applicabk law ~o a writ~sn waive~ by Lender, BoROM?~~ wr to L.e~de~ on the uay monthly installments of principal and intcrcc~ arc ~yable unde~ the Note. until tAe Note is paid in tull, a sum (herein "Fun~") equal to one-twelfth o( ~he yearl~ tas~~. and assessments which may attain priority ove~ ~his Mort~a~e. and ~round rents oo the Property. it any. Flus one-twel(th of yearly prcmium i~stallments tor huard inwn~ce. plus oae-twelfth ot yq~ly Premium inuallments (or mongsae insurancc, if any, all u rcasonably estimated initially and tmm time to time by Lender on the buis ot assessmcn~s and hills aod rcasonabk estimates ~hereof. The Funds shall be held in an inslitution the depos~u or accounts ot which arc insuted or ~uaranteed by a Fedtral ot state s~ettcy (including Lende~ if Lcnder is such an institulion). I.ender ahall apply the Funds to pay said taxa. asseumenls. insunnce premiums and ground rcnts. I.ender may no~ charge ~or s~? holding and applyiog ~he F~indc. analyzing caid accoun~ or verifyin~ aod compiling said assessments and Aills, u~less Lertder pays Borrower interest on tho Funds and applicable law pernnits L.ender to make such a cha~ge. Bo~rower and Lencier may agree in writing at the time ot exaution of this Mon~age tbat interat on the Funds shall b~ paid to Borrower, and unless such agrcement is made or applicable law rtquira such inte~at to be paid. l.ender shall not be required to pay Borrower any interest or earnings oo the Funds. Leader shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to ~he Funds and the purpose for which tach debit to the Funds wu made. The Funds arc plodged u additional security for the sums secured by this Mottgage. - If the unount o[ the Funds held by Lender, together with the tuture monthly installments of Funds payable prior to the due data of taues, acsessments. insurance prcmiums and ground rents, shall excead the amount requircd to pay uid taxa. assetsments, insurance prcmiums and ground rents u they (all due, such excess shall be, at Borrower s option, either prompdy repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount o[ the Funds beld by L.ender shall not be sut6cieat to psy taxes, aaessments, insurance premiums and ground rents u they fall due, Borrower sliall pay to l.tnder any amount necessary to make up the de6ciency within 30 days from the date notice is mailed by Lender to Borrower requesting payment thercot. Upon payment in full of all sums secured by this Mortgage, l.endcr shall promptly rcfund to Borrower any Funds held by i.ender. if under puagraQh 18 hercof the Property u sold or the Propeny ~s othenvise acquircd by Lender, Lender sDall apply, no later than immediately prior to the sale of the Propeny or its acquisition by Lender, any Funds held bv Lender at the time of application ~s a credit against the sums securcd by this Mortgage. 3. App~icat~ ot Paymeats. Unless appli~able law provides otherwise, all.payments received by Lender under the Note and paragraphs ! and 2 htreof shall be applied by I.ender 6rst in payment of amounts payable to Lender by Borrower under paragraph 2 herrof, then to interest payable on the Note, then to the principal of the Note, and then to interest and principal on any Future Advances. Cb~qes; Lieas. Borrowtr shall pay all latrs, asscssmcnts and othcr charges, fines and impositions attributable to the Property which may attain a pnority over this Mor~gage, and leasehold payments or ground rents, if any, in the manner provided unckr paragraph 2 hereo[ or. if not paid in such manner, by Borrower making payment, when due, diroctly to the payee thercof. Borrower shall promptly furmsh to Lende~ all notices of amounts due under this paragraph, and in the event _ Borrower shall make payment directly. Borrower shall prornptly furnish to l.ender receipts evidencmg such payments. Borrower shall promptly discharge any lien which has pnonty over this Mortgage; provided, that Borrower shall not be required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by such lien in a manner acceptabk to Lender,-or shall in g«~d faith conte,~ such lien by, or defend enforcement of such lien in, legal proceedings which operate to prev~nt the enforcement ot the lien or forfe~wre of the Proporty or any part thercof. S. Huard insuraece. Borrower shall keep the improvemen~s nov? existing or hereafte~ ercYted on the Propertj~ insurtd against loss by 6re, hazards incl~ded withm the term "e+ctended caverage", and such other hazards as !_ender may reyuire and m such amuunts and fur such periods as 1_ender may reyuire; provideJ, that Lender shall not require that the amount of ~ such coverage exceed that amount of coverage required to pay the sums sec~ired ~by this Mortgage. i The insurance carrier providing the insuranre shall be chosen by Borruwer subject to approval by Lender; provided, that such approval shall not be unreasonably withheld. All prem~ums on insurance policies shall be paid in the manner ~ provided under paragraph 2 hereof or, if not pai~ in such manncr, by Borrower mak~ng payment, when due, dircctly to the ~ insurance carrier. ' .All insurance poficieti anJ renewals thereof shalt be in form acceptable to Lender and shall include a standard mortgage 'r clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, ; and Borrower ~h~ll prompNy [urn~sh to Lender all renewal notices and all receipts of paid premiumS: In the event of loss. i Borrower ~hall give prumpt notice to the insurance carner ~nd I.ender. Lender may make proof of loss if not made prompdy ~ by Borrower. Uoless Lender anJ Borrower otherw~sc agree in wnt~ng, insurance proceeds shall be appiied to rcstoration or ropair of ? the Property Jamaged, provideJ such re~toration or repair is economically feasible and the security of this Mortgage is ~ not thereby impa~red. If surh restoration or repair is nut cconomically (easible or if the security of this Mortgage w~uld ~ be impa~red. the insurance procceds shall be applied to the sums secureJ by this Mortgage, with the excess, if any, paid ~ to Borrowcr. If the Property is abandoned by Horrower, or it Borrower fails to res~nd to Lender within 30 days from the ti date nodce ~s maifed by Lender to Borrower that ~he insurance carner otTerc to setile a claim for insurance benefits, Lender ~ is auth~xized tc~ cullect and apply the ~n~urance proceed~ at I.end~r'~ opUUn e~ther tu restorauon or repair of ihe Propertti _ or to the sums ~ccured by this ~forigage. ~ Unless l.ender and Borruwer otherwi~c agree m Kriting. any such application ~~f prcx:eeds to prmcipal shall not extend ~ or postpone the due J~te of the mc~nlhl}• installment~ rc(crrcd t~~ in paragraph. I and 2 hereo( or change the amount ot ~ such installments. If under paragraph 18 hereof the Property acywred h~ Ixnder, :~II right, tiNe and interest ot Borrower ; in and to any Insurance policies and in and to the proceeJs thereut result~ng from damage to the Property Prior to th~ sale " or acqwsition ahall paas to Lender to thc extent ot the sums ~ecured b~ th~s ~1ortgage immediately prior to such sale or ~ acquisition. 6. Presenation ~nd ~taintenance of Property: I.easehulds: Condominiums; Planned Unit De~•elopmenls. Horrowcr # shall Iceep the Property in good repair and shall not cornro~~ K~aste or perm~t impairment or deterioration of the Propeny - and shall comply w•ith the provisions of any lease th~~ Mvr~gagc un a leaschi.ld. If thia Mortgage is on a unit in a ~ condomin~um or a pfanned unit de~elopment, Borrow•er ~hall ~rturm all of Borrower's obligations under the declarat~~m or eovenants creating or govern~ng ~he condominium ~r planned umt develapment, the by-laws and regolations of ti~e ' condominium or planned i~nit development, and constituent ~~xument~. I( a condominium or plenned unit ~evelopment ~ nJer is executed by Borrower ~nd rerorded tc.gether w,th th~t Mortgage. ~he covenants and agreements o( such rider shall be incorporated ~nto and shall amend and supplement the cu.enants an~ agreements o( thi~ Mortgage as it the ri.ier were a part hereof. S 7. Protection of Lenders Secutity. I( Bi.rr~~HCr fa~l. n. ~xrf~.rm the covenan?c an~l agreemeMs contained in thi~ ~ Mortgage, or if any acdon ~~r pra:eed~ng cummrncrd wh~ch m~terially~ afTrcts Lender's ~nterelt in the Pmperty. : mcluding, bw n~~t I~m~ted ro, cm~ncnt dumam. in.~~hcnr~. cudc rnt~~r:cmrnl, i~r ~rranRcmrntt c~r procccdings invohing a bankrup~ or deceJent. then LenJer at I.ender'~ option, uFxm n~~UCC to Borruwer, ma~ makc tiuch ap~xarances, dishurse such ~ sums and ~ake such ac~iun ac ~s nece«ar~ t~~ pro~rct I.ender's interest. ~nc(n~ting. but niH limited ti., Jisbursement o( ~ reasonahle au<~rney'~ tcet and enlry uM~n the Propcrt~ ~a m~kc repairti. If LcnJcr rryuircJ mortgage in~urance as a conJ~uun ~~f making thc loan tiecureJ b} Ih~~ M~?ngage. B~~rn~urr shall ~a~• ~he premiwns require~l to mainta~n ~uch insurance in cticct un~il ~uch time a~ ~hc rcyuircmcn~ (or .u~h ~ntutanrr tcrminatc~ in :~r~ordancc wi~h Bormwer's and ~ ~ ~05 . ~ 42 _ _