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Home My WebLink About0012 t _ . ~ - . . . _ _ : UKtrau~ Oovan~nts. Sorro~ru and l.sader covenant aed s~roe as tollows: L ~4~~M ~f ~ei~i ri I~IneM. Borrowe~ shdl promptl) WY when due t6e ptincipal of and iaterat on the indebbednea evideaoed b~r tbe Note. propa~naeat and late char~ea sx ~ovided in the Nata and tha principd ot and intera~ aa my Futuro Ad~ranca ~ecured b~? this Matsa~e. l1~i t~t 71~o~s a~i I~wt~. ~bject to applicabk law ~x ~o a written waiver by Lende~. Boa~o~ve~ shall P~y to I.endtr on the day enontMp inuallments of principal and intcrcat aro paysMe under the NWe. u~til tM Note is paid in tull. a suia (heroin "Fund~'~ equal to a~e-twdtth of the yeari~ tax~~c ~nJ auasmeets which auy attsin priority over this Mortjase. and fround renb oe the Properhr. ~t any. FiuS blfE-[w2iii~i ~i Y~i~ji jii~iRiii~u i~aii~z~ ~c~ ~t~~ t[~~~~. plus oae-twelfth ot yearly premiwn installments tor mortq~ee inuirancc. ~r.~r. all u reasonasly ~stimated initially snd troan tuna to time by l.eeder oa tbe buis of asxssments and hills and rcasonabk atimata theeeof.. 'Ibe flm~ shall be beld in an institutic+n the deposia or accounts of Mhich are insured or twraoteed by a Feden~l et state aseecy (includin~ Leader if Lender is such an iostitutionl. I.eoder shall apply the Funds W pay said taxes. assasma~ts. iawranoe p~+enuums and ~round reots. l.ender may not charje for u~ holdins and applrin~ the Fuads. analyzint said acoount, ~ or verifyins.and eomplins said asxssmena and bilh. unla3 Lender pays BoROwer interest on the Funds and appliqbla law • pe=mits lrender to make such a cNar~e. Borrovrer and Lender may atrce in writinj at the time of euocntion ot thit Mort`a~e that iaterat on the Funds sball be paid to Borrower. and ualas such a~reement is made o~ applicabk law requiebt ~uch iaterat to be paid. l.tnder sdall not be requited to pay Bomower any interest or earnings on the Funds. Lender ~11 pve W Borrower. ~ritl~out char~e. ao anqwl accounting of the Funds showin~ crodits and debits to the Funds and the . r L L ~es4.: , :b~ ~ -.-l~ ~*+e wl.al.*~+! a~lili~al i~N~ritV for the ~u111s secured W~N~ avi wuw.~~ i.iiw~ .w.v.~ •LS wa. 3I:.w ~:S ~ . - -o'- bryr tbis Mortsa~e. If tl~e ataount ot tbe Fund~ bdd by Lender. togdher with the future inonthly installments of Funds payabk prior to the due data of tua. atsasments, i~urance premiums a~d g~ound rents. shall excKd the amoont requieed to pay said taxes. ~ts. intunnca praaiums and tround re~ts aa they fall due. such excess shall be. at Borrower's option. either promptly repaid to Borrower ai credited to Horrower on monthly installment: of. Fuads. If the amount of the Funds 6dd by I.eodtr s6alt not be wA'ic~ent to pay taues. at~asments, ibsuranoe p~emiums iu~d sround rents as they fall due. Horrawee sbstl pay to l~eader any amount neassary to make up tbe deficiency within 30 days from tMe d~te notice is maikd by I.eader W Borrower requatint P~Ymeot tl~ereof. . Upon payment ia fuU of all sums secured by this Mortgage:'l.ender ahat) promptlY refund to Borrower any Fu~ds 1xW by I.eader. If under parap'aph 18 hercof the Property is sol~,w the.Property ~s othenvise uquired by Lender. Le~der s6all appfy. no Ister t6sn immediately prior to the sak of the P~ierty or its acquisition by I.ender, any Funds held bv I,eoder at the time of applicatioa ~ a credit sgainri the :ums secured by this Mortaage. 3. A~licatio¦ d PqaeNs. Unkss applicabk law provida otherwise. all paymenu received by Lender under the Note and paragraphs 1 aad 2 heceof ahall be applied by Lender first in payment of amounts payabk to Lender by Borrower uader puagraph 2 hereof, thea W iaterest payabk on the Nae, thcn to the principal of the Note. aod then to interest and priacip~l ~n any Future Advanoes. 4. C~e~ i.kas. Borrower shall pay all taxes, assessments and other chargu, 6nes and impositions attributable to tbe Property which may attain a priority over this Mongage, and kuehold paytnents or ground rents. if any. in the maaoer Qrovided under paratraph 2 hereof or, if not paid in such manner. by Borrowe~ making payment, whp~ dne. dirccdy to the payee tl~ereof. Borrower shal! promptly furnish to Lender all notices of amounts due under this pars~raph. and ia the eveat Borrower shall tnalce payment diroctly. Bortower shall promptly furnish to Lender roceipts evidencing such payments. Horrewer shall p~n?ptly discharge any lien which hu priority over this Mortgage; provided, that Borrower shall not be req;sir~ Ec ks.e sny ssssh !'ssa~ ~!~~g 3~^i£~~r chg!! ~g~ ~n writing to the paytnent of the obligation secured by such lien in a manner acceptabk to Len~r. or shall in good faith contest wch lien by, or defend enforcement of such lien iq legal prococdings which operate to preveat the enforcement of the lien or fotfeiture of the Property or any part thereof. S. Hmri I~ss~ce. Borrowe~ shall keep the improvements now existing o~ hereafter erected on the Property insured against loas by 5re, hazards includaf within the term "extended coveraga", and such other hazards u Lender may requirc and in wch amounts and for such periods u Lender may require; provided, that i.ender shall not requirc that the amount of such rnverage exceed that amount of coverage required to pay the sums secured by this Monaase. 'Ibe iawranoe carrier providing the insurance shall be chosen by Borrower subject to approval by Lender. provided, that wch approval shall not be unreuonably withheld. All premiums on insurance policits shatl be paid in the manner provided under paragriph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the insurance carrier. ~ AU insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage j clause in favor of and in form acceptabk to Lender. Lender shall have the right to hold the policia and renewals thereof, ; and Borrower shall promptly furnish to Lender atl renewal notices and all receipts of paid premiums. In the event of loss. Borrow,er shall give prompE notice to the insurance canier and Lender. Lender may make proof of loss if not made promptly ~ by Borrower. ~ i ~ Ualess Le~der and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of $ the Propeny damaged, provided such restoration or repair is economically teasible and the security of this Mortgage is ~ not thercby impaircd. If such restoration or repair is not economically feasible or if tFie security of this Mortgage would ~ be impaired. ihe insurance procxds shall be applied to the swns secured by this Mortgage, with the eaccesx. if any, paid ~ to Borrower. If tht Propeny is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the date notice is mailed by Lender to Borrower that ~he insurance carricr offers to settle a claim for insurance benefits. Lender is authorized to collect and apply t6e insurance proceeds at Lender's option either to restoration or repair of the Propeny ~ or to the sums secured by this Mortgage. ~ Unless L.ender and Borrower otherwise agree in writing, any such applica~ion of proceeds to principal shall not extend or poatpone the du~ date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of wch installments. lf under paragraph 18 hereof the ProFerty is acquired by I.snder, all right. title and interest of Borrower in and to any Insurance policia and in and to the proceeds theroof resul~ing from damage to the Propeny prior to th.; sale ~ ~ or aoquisition shafl pass to Lender to the extent ot the sums secured by this Mortgage immediately prior to such sale or ~ acquisition. 6. h+eservatioo and Maintenance of Property; Leaseholds; Condominiums; Planaed Unit Deveiopments. Borrower ~ shall koep the Property in good reQair and shall not com~pit Waste or permit impairment or deterioration of the Property ~ aod shall comply with the ptovisions of any leate if this Mortgage ~s on a leasehold. !f this Mortgage is on a unit in a condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration ' or covenants creating or governing the condominium or planned unit develupment, the by-laws and eegulations of the ~ condominium or planned unit development, and constituent Jocuments. If a condominium ot planned unit development - ~ rider is executed by Borrower and recorded together with this Mortgage, the covenants and agreements of such rider a shall be incorporated into and shall amend and supplement the covenants anJ agreements of this Mortgage as if the rider ~ were a part hereof. ~ 7, protectiou of Leoder's Secnrfty. If Borrow-er fa~k to perfarm the covenants anJ agrcements contained in this ~ Mortgage, or if any action or proceeding ~s commenced which materially afTects l_ender's interest in the Property, ~ including, but not limited to, emment domain, insolvenry, code enforcement, o~ arrangements or proceedings invol~ing a f ~ bankrupt or deceden~. then Lender at Lender i option, upon not~ce to Borrower, ma~• make such appearances, disburse such ~ sums and take such xtion as is necessary tu protect t~nder's interest, including, but not limited to, disbursement of ~ ~ rcasonable attomey's fees and enlry upon thc Property Io make rcpaira. It Lcnder reyuircJ mortgage insurance as a - cond~tion of making thc loan zecureJ by this A1ortgage. Bormvrcr shall pay the premiums required to maintam such ~ • insurance in efiect un~il soch time as ~he reyuiremem for wch insurance term~nates m accordance with Borrower s and ' ~I i c~(~ ; ~ o1z : ~ . 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