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Home My WebLink About0802 Un~~a CovaH~rns. 6o~mwsr and l~ende~ covenan~ and asrce u tollows: of snd interat oe the I. iqr~e~t ~f T~Lei~l a¦i 1~Mta1. Borrowu shall ~xomM~Y WY when due tAe principal indebtedneq evidenoed by tbe Note, pt+epaymeM and late char~es a.c ~ovided in the Note, aod the p~~iPsl of and interest on any Fu~ure /1a~?.noa saw~ea b~? uus M«+s+~. 1!ri ter Taans a~i 1~we,rce. ~bject to applicabk law ~x to a written waiver by I.ende~. BoRO+re~ shsll paY w[,ender on the day moothly imlallments of principal and intcrcct an: payshk under the Note. until the Note is paid in full, a sum (herein "Fw~dt'~ eqwl to one-twdith ot the yea~l~~ ta~?~~ ancl assasments which may attaie priority over this Mortsa~e. and ~round rena a, cbe Pmpeny. if sny, plus ooe-tweltth of yearly premium installmeots for hazard mwrance. plut oaatwdith ot yeuly ptemium insbllments for mottgage insunncc. it any. all u rcasonably estimated initially and trom time to time by Lender on tbe buis df assasmcnts and hills and reasonabk atimates thereof. 7Ue Funds shall be beld in ae institutic~n the depos~u or accounts of ~?hich are inwred o~ ~uaranteed by a Fedenl ot state asency (includina L.et~der if Lende~ is such an institutionl. 1_ender shall apply the Funds to p~ULsiid ~axa. assasmenti. iawranoe pemiums and ~round rents. I_ender may not charae for so holdina and applyin~ the Fands. analyzin= uid account, or verityin~and oomplint said assessmenu and bi~h. unku Leoder pays Bonower intercst on the Funds and aPP~~cibk law permits I~eader to make wch a char~e. Borrower aad [.ender may agrce in writing at the time of exaution ot this Mo~tsase tbat interat on the Funds slwll be paid to Borrower. and unkss such asrcemen~ is made or applicabk law ~ requires such interat to be paid. Lende~ sha~~ ~wt be rcqu~red to Pay Borrower any interat or earnings on the Fuods. Lende~ s6aU pve to Borrower. witbout clurge. an annwl accounting of tl~e Funds showina credits and debits to the Funds and the p~rpc~se (or ~rhich eac6 debit to the Funds wu made. Tl~e Funds arc plodged u additional security for the sums sec~rcd by this Mort~aje. - If tbe amount ot tbe Fund~ hdd by Lender, together with the future mo~thly instaltments of Funds payabk prior to tbe dne data of taxes. assessments. ~nsuranoe Pr'~miums and g~ound rents, shall exceed the amount required to pay said taxes. ~pa~nents. iasunnce premiwns ud Eround ren~s as ~heY fall due. such excess shall be. at Borrower s option, either . p~p~ly ~id to Horrower or credited to Borrower o~ nwnthly installments of Fu~ds. If tl~e amount of the Funds bdd b~r L~ender shall aot be wl6aeat to pay taxes. assasments, insurance p[emiums and gcound rents ss they fall due. Horm~ver shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed ~ by I.eader w Horro~ver requestia6 WYment thereof. Upoa payment ia full of alt wms secured by this Mongage. Lender shall promptly refund to Borrower any Funds held bp Lender. If uader paraaraph 18 heroof the Prope~ty i~ sold or the Property ~s otheFwise acquired br Lender. Lender sbail apply. no later tbaa immediately prior to the sak of the Property or its acquisition by Lender, any Funds held bv Lender at the time of application as a crcdit againsl the suau secured by this Mortgage. s 3. ot pqr~eNs. Unlas applicabk law provida othervvise. all pay~ne~ts received by I.ender under the . Note and ~ 1~ 2~~ ~all be applied by Lender first in paymont of amounts payable to Lender by Borrower under pua6raph 2 hereof. tbea to iaterest payabk on the Note, then to the principal of the Note. and then to intercst and principal on any Future Advanoes. 4, C~a~e~ I,ie~s. Borrower shall pay all taaes, asscssments and othe~ charges, fines and impositions attributable to , the property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any. in the manner providcd under parsaraph 2 hereof or, if not Paid in such manner, by Borrower making payment. wha~ due, directly to the pay~ee tl~etto[, Bormwet shall promptiy furnish to Lender all notices of amounts due under this paragraph. and in the event i garowe~ shal~ make payment directly. Borrower shall promptly fumish to l.ender receipts evidencing such payme~cs. : Borrower shall promptly discharge any lien which hu pnority over this Mongage: provided, that Borrower shall not be s ~equired to discharge any such lien so long as Borrower shaU agrce in K~riting to the payment of the obligatiun secured by suc6lien in a manner acceptable to Lender, or shall in good faith contest wch lien by, or defenJ enforcement ot such lien in. kgal proceedings which operate to preveot the enforcement of the I~en or forftiture of the Property or any part tht~wf. S, Ha~rd Inp~ra~ce. Borrower shall koep the improvements now eaisting or hereafter erected on the Property insured against loss by firc. huards includcd within the term "extendeJ coverage". and such other huards u Lender may require ~ and in such amounts and for such periods u Lender may require: provided, that Lender shall not requirc that the amount of ; such covenge exceed that amount of coverage required to pay the sums secured by this MortE~6~- ~ The insurarKx curicr providing the inwrance shall be chosen by Borrower subject to approval by Lender. provided. _ ` tDst wch approval shall not be unreasonably withheld. All premiums on insurance policies shail be paid in the manner ~ ; provided under paragraph 2 hereof or, if not pai~ in such manner, by Borrower making payment, when dae, dir+ectty to the ; ; i inwnnce carrier. i ~ All insurance policies and renewals thereof shall be in form accep~able to Lender and shall include a standard mortgage clause in favor of and in form uttptable to Lender. Lender shall have the right to hold the policies and tenewals thereof, ~ and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid prcmiums. In the event of loss, ! Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly ; by Borrowcr_ ~ ' Uoless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of ~ the Property damaged, provided such restoration or repair is ecorwmically feasible and the security of this Mortgage is ~ not thereby impaired. If such restoration or repair is not economically feasib{e or i[ the security of this Mortgage would . be impaired. the ins~rance proceeds shall be applied to the sums secured by this MoRgage, 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 day3 from the ~ date notice is mailed by Lender to Borrower that the insurance carrier ofters to settle a claim for insurance benefits, Lender is authorized to collut and apply the insurance proceeds at Lender's option either to restoration or repa'sr of ihe Property ~ or to t6e sums secured by this Mortgage. Unless Lender and Borrower otherwise agree in wnting, any such application of proceeds to principal shall not extend ~ or postpone the due date of the monthly installments referred to in paragraph~ 1 and ~ hereof or :.hange the amount of ~ suc6 installme4~s• If under paragraph I8 hereof the Pro f,erty is acquired by l.ender, all right. title and interest of Borrower ~ in and to any ~nsurance policies and in and to the proceeds thereot resultmg from damage to the Property prior to th.: sale ~ or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediatety prior to such sale or ~ acquisition. ~ 6, presenat~oo and M~intenance of PropertY; Leaseh~dds: Condominiums; Planoed Unit Devebpmenls. Borrower ~ shall keep the Property in good repait and shall not comro~t yvaste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease if th~s Mortgage ic on a~leasehold. If this Mortgage is on a unit in a ~ coadominium or a planned unit development, Borrower shall perform all ot Borrower's ob6gations under the declaratiun s' or cmenants creadng or governing the condominium or planned unit development, the by-laws and regulations of the - ~ condominium or planoed unit development, and constituent Jocumen~~. If a cunJominium or planned unit development a rider ~s executed by Borrower and recorded iogether v?~tfi this ~fortgage, ~he covenants and agreements ot such rider ~ shall be incorporated mto and shall amend and supplement the co.enants anJ agreements af this Mortgage as if the riJer ~ were ~ part hereof. ~ 7. Protection of Ltoder's SecurSty. If B~rrower fa~l; to perform the covenants and agreements contained in this ~ ~ Mortgage, or if any action ur proceeJ~ng is commence.t Khich materiall}~ af(rcts Lender's ~nterest in the Properry, ~ including, but n~w 6mhed to. eminent domain. insolvenr}, cocle en(orcemenL or arrangements or pr~x.eedings invol~•ing a bankrupt or deceden~. then Lender at Lender's opuon, uEx~n no~ice ta Borrow•er. ma} m~ke such appearances, Jisburse such ~ sums and take such ac~ion as is necessar}~ tu protect Lender's mteresl. inctuJing. but no~ limited to, disbursement of ; ~ reasonable atlomty's fccs and en~ry upon the Proper~y to make repairc. It I.cndcr reyuircd mortgage insurance as a ~ ~ condrtion of makmg thc loan SecureJ by~ Ihis Mnrtgagc. B~~rr.~wcr shall pay thr premiums required to maintain such ; :nsurance in effiect until +uch time as the reyuiremem far w~h mwrancr rernunate~ i~ .~c~ordance wi~h Borrower's and x ~ ~ ~ ~ ~OS c Q ~ y . 3.. _ ~~;L ~.JOi, - 4 3~-'1 -S .i:-:': , . . . . 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