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Home My WebLink About0795 F , UNt~~ Cova~ewrs. gcrmMru and 1,eadet cove~ant and a~roe u fol{ows: Z. lywe~t ot rei~efN1 a~i Waesl. Borrower shall ~uompd) paY when due the principal ot and interat on the ind~Etednes~ evidenoed by tbe NotR petW?~tneet and late chargec a.c ~xovided io the Note, and the principsl of aed interal aa ~nr Future Advances securod bp this Mort~a~e. 2. lwi~ for T~~s a~i I~wn~a~e. Subjat to applica~k law .x to a writtcn waive~ ey Lender. BoRO~rer shal~ MY to Lender on ~Ae day moethly installments of principal and int~rcu ~n payat+le unde~ the Note, until the Note is paid io iull. a unn (herein "Fun~'7 eqwl to ooe-twdith of the yea~l)' tax~~ anJ auasments which may attain priotity ove~ this Moruaje, and ~mund rena on cbe Propeny. if aey, plus a+atweltth of yearly premium installme~ts for huard insurar~ce. ~ plus oae-twel[th of yearly premium installmen~s for mongage ins~irsnce. if ~ny, all u ressonabiy estimated initially a~d tmin ~ time to time by Lender on tbe bssis of assessmcnts and hills and rcasonabk estimates thereof. 'tLe flmds shall be beld in an instituticxi the depasia or accounu of Mhich are inwred or ~wranteed by a Federal ot :tate a~eocy (inciudin6 Leade~ if Lender is such an institutionl. I.ender slull apply tl~e Ftinds to pay said taxa. assessmen~. imutanca poemiums a~d tmund rcnts. 1_ender may not charge for u+ holdint snd applyint the Funds. analyzing said accoun~, or verifyint aod compling said assessments a~d bilh, untess Leader pays Bortowe~ intetest on the Funds and applicable law pernuts I.ende~ to make such a cha~ge. Bor~ower and l.ender may agrce in writing at the time ot execution of t~is Mortaase that interest on the Funds shall be paid to Bormwer. and ualas such agreement is made or appticabk law requira such interat to be paid. Lender shall not be rcquired to pay Borrower any interest or earnings on t1R Punds. Lender . shsll pve to Borrower, witbout charge, an a~~ual accounting of the Funds showing crcdits and debits to the Funds and the ~ purpose for which each debit to t6e Funds was made. 'Ibe Funds arc plodgcd as additional security for ~he sums securcd by tha Mortpse. If tl~e amount of tbe Funds held by Lender, together with the future monthly installments of Funds payabk prior to tbe due data of taxa. atsasmeats. insurance p[emiums and ground rcnts, shali excced the amount rcquired to pay said taxa. as~meats. iasuraaee premiums and ~rou~d re~ts as theY fall due, such excess shali be. at Botrower s oplion, either promptly repaid to Bon+ower or uedited to Borrower on monthly installme~ts of Funds. If the amount of the Funds hdd bryr Lender shdl tat be sul6cieat to pty taxes, as~sme~ts, insurance prem~ums and gratr~d rcnu ss they fall due. 8ocmaer sball pay to La~der any amount necasary to make up the deficiency within 30 ~ays from the date ~otice is mailed by I,eade~ to Borrower requesting payment thereof. Upon paymeat ia full of dl swas socurod by this Mortgage, l.ender shall promptly refund to Bomower any Fun~ held by L.ender. lf undet para~raph 18 hercqf the Propeny ia sold or the Property ~s otherwix acquircd by Lender. Lender s6a11 apply, ra late~ than immediatety prior to the sak of the Property or its acquisition by L.ender. any Fuads held bv Leoder at the time of application as a credit against the sums socured by this Mortgage. 3. A'pik~atio~ d~eds. Unless applicable law provida otherwise, all payments raeived by Lender under the Note and pangraphs 1 and 2 hereof shall be applied by Lender first in payment~ of amounts payable to Lender by Borrower • uader para~taph 2 hereof. then to iaterest payabk on the Note, then to the principal of the Note. and then to intercst and principal on any Future Advanoes. ~ 1, C6~Res; [3eas. Borrower shall pay all taxes, asxssments and other charges. Bnes and impositions attributabk to tbe Propeny which may attain a priorily over this Mongage, and leasehold payments or ground rents, if any, in the manne~ pmvided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment. when dut, directly to the psyee thetoof. Boaower st~all promptly fumish to Lender all noticcs of amouats due under this parasraph. and ia the eveot Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payme~u. Borrower shall pranptly discharge any lien which hu priority over this Mongage; provided, that Borrower shall not be required to discharge any such lien so long u Borrovr•er shall agree in wriling ta the payment of the obligatiun secured by such lien in a manner acceptabk to Lender, or shall in good fai~h contest such lien by, or defenJ enforcement of such lien in, Iegal proceedings which operate to prcvent the enforcement of the I~en or forfeiture of the Propeny or any pan thereof. S. Hazard Inwnwca Borrower shall keep the improvements novv eaisting or hereafter erected on the Property insurod against loss by firr, hazards included with~n the term "extendeJ coverage", and such other hazards as Lender may requirc and in such amonnts and for such periods u Lender may require; provided, that Lender shall not require that the amount of such coverage excecd that amount of coverage required to pay the sums securcd by this Mortaa6t. j The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided, that such approval shall not be unreasonabiy withheld. All premiums on insurance policia sha11 be paid in the manner I provided uoder paragraph 2 hereof or, if not pai~ in such manner, by &xrower making payment, when due. dircctly to the ~ iowrance carrier. ' ; All insurance policies and renewals thereof,shall be in form acceptable to Lender and shall include a standard mc+rtgage ~ etause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof. and Borrower shall promptly furnish to l.ender all renewal notices and all receipts of paid premiums. In the event of loss. ; Borrower shall give promPt notice to the insurance carrier and Lender. Le~?der may make proof of loss if not made promptly ~ by Borrowcr. Ualess Lender and Borrower otherw~se agree in w~~ting, insurance proceeds shall be applied to restoration or repair of the Property damaged, provickd such restoration or repair is economically feasible and the security of this Mortgage is ~ not thereby impaired. If such restoration or repair is not cconomically feasible or it the security of this Mortgage would ~ be impaired, the insurance proceeds shall be applied to the sums secureJ by this Mortgage, with the excess, if any, paid to Borrower. If the Propeny is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days irom the ~ date notice is ma~led by I.ender to Borrower that the insurance carrier ofters to settle a claim for insurance benefits, l.ender is aut6oriud to collect and apply the insurance proceeds at Lender's optwn either to restoration or repair of the Propertv . or to the sums secured by this Mortgage.. ~ Unless Lender and Borrower otherwise agree in wri~ing, any such application of proceeds to prineipal shall not extend ' or postpone the due date of the monthly installments referred to in puagraph~ 1 anJ 2 hereof or change the amount of suc6 insWltmeuls. If under paragraph 18 hereof the ~Pro f,erty is acyuired by~ Lender, all right, tiUe and interest of Borrower ~ in aod to any tnsurance policies and in and to the proceeds thereof resulung from damage to the Property prior to thc sale or acquisition shall pass to Lender to the extent of the iums secured by ~his 1?lortgage immediately prior to such sate or ~ acquisition. 6. Presenatioa aad Naintcnance of Pioperty; [.easehulds; Condominiums; Planacd Unit Developmeots. Borrow•er - shall keep the Property in good repair and shall not comro~~ Waste or permit impairment or deterioration of the Property and shall compl~~ with the provisions of any lease if this Mortgage ~c on a leaschold. If this Mortgage is on a unit in a condominium or a planned unit development, Botrower shall perform all of Borrower's obligations under the declaration ~ or covenants crcating or governmg the condomin~um or planned unit development, the by-laws and regulations of the condominium or planoed unit developmenl, and constituent docume~t~. I[ a condominium or planned umt development ` rider ~s eaecuted by Borrower and recorded together Nith-th~~ Mortgage, the covenants and agreements of such rider ~ shall be incorporated into and shall amend and supplement the co~enants anJ agreements of this Mortgage as if ihe riJer ~ ~ were a part hereof. - 7. Protertion of Leade~'s Securfty. If BorroWer (a~l~ to ~xrfi~rm the covenants and agreements containe~ in this Mortgage, or if any acUvn or proreedmg ic rummenced whi~h materiall~• afTrcts l.enJer's interest in the Property, ~ includmg. but n~~t limited to. eminent domain. ink,henc~. c~~de enforcement, or arrangements or proceedings involving a ~ bwkrupt of decedent. then l.ender a~ I.ender'~ option, up~~n notice t~. Borrower, ma~ make such appearances, dishurse such ~ sums and take such ac~ion a~ ~s nece~tary to pro~ect Lender's mterest. ~nclud~ng, but not limited to. disbursement of ~ reuonable attomey's fces and entry u~n the Properiy to makc repa~r~. I( I.cnder reyuircJ mortgage incurance as a cond~t~on of making the loan ~ecureJ by this Mur~gagr. Barm..rr shall pay the premiums reqiiireJ ta maintain such ~ insurance in etiect umil ~uch time as ~Fx: rcyuirement f~~r wch insurance t~rminatr~ ~n :~ccordance N•i~h Borrower's a~d ~ ~ 3'i.1r ~0~ ~t7't ~ ~ t;~~