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Home My WebLink About0054 UNtraw CoveNer~m. Borrower and Le~de~ cove~snt and a~ra ss tollows: 1~. T~we~t o/ hi~clMl a~i 1Mend. Borrower shall p~omptly paY when due the principal of and interat on the inde~tedne~t evidenoed by the Note. Prepayment and late cha~gex ac p~ovided in Ihe Note, and the ptincipa) ot and interat oe aoy Future Advances secured by this Mortja~e. 2. Fti~i tor Ta:~s a~i I~ara~ee. Subject to applicabk law or to a written waiver by Lender. Borrower shall par 1o Lender o~ Ihe day mo~thly installmenls ot principal and int~rc~~ arr payabk uoder the Note. until the Note is paid in tull, a tum (herein "Fund~") equal to one-tweltth of the yearl~~ ~as~~ anJ auasments which may attain priority ove~ this Mortsaje. and a~ow~d rent~ on t1x Property, if any, plus one•twel(th of yearly prcmium installments for hazard insurance. plus one-tweltth o[ yearly premium installmenls (or mortgage insunncc, if any, all as reasonably estimated initially and irom time to time by Lende~ on the buis of assescmcnts and hills and rcawnabk atimata thereot. The Funds shall be held in an institution the deposita or accoums of which are insurcd or guaranteed by a Federal ot state agency (including Lender i[ Len~er is such an inuitutionl. I.eoder shall apply the Funds to pay said taxa, assasments. imurance premiums ar~d atound rcnts. 1_ende~ may oot cha~ge (or sc~ holdiog and ~pplying the Fnndc. analyzing ~aid account, or verifyin~ aed compilinj said assessments and billa, unless l.eoder pays Borrower intercst on the Funds and applicable law permits Leoder to make such a charge. Barrower and L.endCr may agree ~in writing at the time of execution o[ this Mottaage that interest on the Funds shall be paid to Borrowe~, ar~d u~less such agrcement is made or applicable law roquires wch intetrst to be paid. Lender shall not be rcquired to pay Borrower any interat or earnings on the Funds. Lender sAall ~ivt to Borrower. without charge, an annual accounting of ~he Funds showing credits and debits to the Funds and the purpcue for which each debit to the Funds wu made. The Funds are plodged u additional security for the sums secured by this Mort~age. If the amount of the Funds held by Lender, toge~her wi~h the future monthly installments of Funds payable prior to the due dates of tues, ass~ssmenu. insurance prcmiums and ground rcnts, shall exceed ~he amount requircd to pay said taxa. asseuments. insurance prcmiums and ground rcnts as they fall due, such excess shall be, at Borrower s optian, eilher pranptly rcpaid to Bormwer or credited to Borrower on monthly installments of Funds. !f the amount. o( the Funds l~eW by Lender shall not be sut6cieat to pay taxes, assessments, insurance promiums and ground rents u they fall due. Borrower shall pay to Lender any amouM necessary to make up the deficiency within 30 days trom the date notice is mailed by Lender to Borrower requating payment thereof. [lpon payment in full of dl aums securcd by this Mortgage, l.~nder shall promptly retund to Borrower any Funds held by Lender. If under pusgraph 18 hercof the Property ia sold or the Property is othervvise acquircd by Lender, Lender s6d1 apply, no later than immed'utely prior to the sale of the Property or its acquisition by Lender. any Funds held bv Leoder at the time of apQlication u a credit against the sums securcd by this Morigage. 3: App~icatlou oE Paymeels. Unless_applicable law provida otherwise, all payments receivetf by Lender under the Note and paragnphs I and 2 hereof shall be applied by I.enJer first in payment of amounts payable to Lender by Borrower uader patagraph 2 hercof, t6e~ to interest payable on the Noie, then to the principal of the Note. and then to interest and principal on any Future Advances. Chartes; Liens. Borrower shall pay all ta~es, assessments and othcr charges, fines and impositions auributable to t6e Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manner pmvided under paragraph 2 hereof or. if not paid ~n such manrter, by Borrower making payment, when due, dircctly to the payee thereof. Borrower shall prompUy furnish to ~ender all notices of amounts due u~der this paragraph, aad in the cvent Borrower shall make payment directly, Borrower shall promptly (umish to Lender receipts evidencing such payments. Borrower shall promp~ly discharge any lien which has prionty over this Mortgage; provided, that Borrower shall not be rcquired to dixharge any such lien so long as Borrower shall agree in writing to the payment of the obliga~ion secured by such I~en in a manner acceptable to Lender, or shall in good faith contec~ such lien by, or defend enforcement of such lien in, Iegal proceed~ngs which operate to prevent the enforcement of the lien or [orfe~ture of the Propeny or any part thereof. S. Huud lnsurance. Borrower shall keep the ~mprovement, now• existing or hereafter erected on the Propeny insured against loss by fire. hazards included wilh~n the term "cztended coverage°, and such other hatards as Lender may reyuire wd in such amounts and for such p~riods ax Lender may reyuire; provided, that Lender shall not require that the amount of such coverage exceed that amount of coverage required to pay ~he sums secured ~by Ihis Mort6age. I! The ~nsurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender. providtd, ' that such approval shall not be unreasonahly withheld. All premiums on insurance policies shall be paid in the manner ~ provided under paragraph 2 hereof or. ~f not paid in such manner, by Borrower making payment, when due, dirccNy to the ; insurance carrier. - All insurance polic~es and renewals therrof 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 ihereof, ; and Borrower shall promptly furnish to Lender all renewal-notices and all receipis of paid premiumc. In the event of loss, ~ Borrower shall givc prompt notice to Ihe insurance carner and l.ender. Lender may make proof of loss if not made promptly ~ by Borrower. ~ Unless LenJer and Borrow~er othervv~se agree in wnbng, insurance proceeds shall be applied to restoration or repair of ~ the Property Jamaged, pr~vided such restoration or repair is cconomically feasible and the security of t~is Mortgage is not thereby impaired. I( such restoration or repair is n~~t ecunomicaliy~ feasible or if the security of this Mortgage would ~ be impaired, the insurance proceeJs shall be applied to the sums secured by thix Morigage, wi~h the excess, if an}, paid E to Borrower. If the Property is abandoned by Borrower, or it Borrower fails to respond to Lender within 30 days from the ~ date notice is ma~led by l.ender to Borrower that the msurance carrier oBers to settle a claim for insurance benefits, Lender ~ is authorized to collect and appty the insurance proceedi at I.en~ier's optiun either to restoraUon or repa~r of the Propem• ~ or to the sum~ secured hy this ~fortgage. 5 Unless Lender and Burrower otherv?ise agree m wnting, any such applir.+tion of pr~xeeds to pnncipal shall not extend s or postpane the due date o[ the momhl}~ installmentc rcferred ta in paragraph. 1 and 2 hereof or change the amount ot ~ ~ such installments. If under paragraph 18 hereof the Property n acywred b~ Lender, ali nght, title and interest of Borrower S in and to any lnsurance policies and in and to the pra:eeds thereof result~ng from damage to the Property prior to th~ sale ~ or acqws~tion shall pass to Lcnder to thc e~?tent of the ,ums ~ecured b~ this hlortg~gc immediately prior to such sale or ~ acquisition. ~ 6. Prcsen•ation aod ~ltintenance of Property; l.easeholds; ('ondominiums; Planned Unit Developments. Borrower shall keep thc Property in good repair and shall not comrpit y~raste ur perm~t impairment or deteriotation of the Property and shall comply with thc provisions of any lease if th~ti M~~rtgage .~n a leaschi~ld. If this Mortgage is on a unit in a - condomin~um or a planned un~t development, Borrower shall per(orm all of Borrower's obligations under the declaratiun or covenants creating or govermng the condomin~um or planned umt development, the by-laws and regulationc of the i condominium or planned unit development, end constituent d~xumeni~. 1( a rondominium or planned unit development nJer u executed by Horrower and recorded t~~gether w~th thn ~tortgage, the covenants and agreements of such rider : shall be incorporated into and shall amend an~ supplcment the co.enants and agreements of this Mortgage as if the riJer ' were a part hereof. 7. Protection ot I.endt~'s Securitp. If Bi~rr~~.+er f;uk t~~ Enrfc.rm the cmen:~ntc anJ agreements contained in this ~ ~ Mortgage, or if any actwn ur proceeding i~ c~~mmcncrd Hhich malrriall} ~tTrcts Len~ler's intere~t in the Property, indud~ng. but n~~t hmited to. emment doma~n. in~~.l~cru~, axlr cnl~~r:emcnt. ~~r ;uranFrm~ms or pr~kecdings invol~ing a ~ bankrupt ~~r Jeceden~. then Lender at Lender'~ ~~ption, uFx~n n~~tice t~~ Bc~rr~iKrr, ma~ m:~ke such appearances, disburse such ~ sums and take such acuun ati ~s nece~~ar} tu pmtect 1_cnder'. imerect, incluJing. but not limrted to, disbursement of ~ reasonable :iitome~'ti (cec and en~ry uEx~n thr Prupent I~. m~kc repairti. It I.rnder rry~iircd m~~rtgage in4urance as a y cunJ~twn u( makmg thc loan ~ccurcd b~• thi~ ~t~~rtg:~gc. H~~rr~~wrr sh.~ll ~ap thr prcmium~ rcyuircJ to maintain such ~nsurancr ~n cl(cct unti) tiuch timc as ~hc rcyuucmcnt f~~r ,uch intiuranrr Irrmin:~tr~ ~n .ic~ordancc N'IIFI BOffI~N'Cf ti and 3 . tl~ Vr JO~ ~ ~ ~ . _ ~ - ~ _ x~