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Home My WebLink About0815 t ! . : UN~~t Cova~+~r+is. Borrower and Let~de~ covenant and a~roe ss tollows: . ~ L~q~eM at M~t~l a~i 1~IereM. eormwu shall promW~) Wy when due the priocipal ot and interest oo tAe } indebtednqa evidenoed by tbe Not0. p~'~W~~t and late char~es ac ~ovided in the Nota. and tho princiPal ot and i~tei+at i oa aoy Futuro Advaoas sxurod b~? this Mortjsse. ; t E~i fo~ T~z~s ri Iwrce. Subject to applicaAk law ~~r lo ~ written waive~ by Le~der. BoRO~ver sha11 Wp I to I.eader on the day moathty installments of principal and int~rcst ~n paysbk uode~ the Note. until the NMe is paid in full. ~ a tum (he~in "Fun~'~ equal to a~e-twelfth of the yea~l)~ tas~~ and assasments which may attain priorit~r over this Mortsa~e. aad ~round renb oa tl~e Propetty. if aoy, plus ooe-twel(th of yarly premium installmentt for huatd inwrance, plus oae-twtlfth ot yearly Premium installments tor mongage inu~nocc. if any, all u reaso~ably estimated initially-and tront dme to time by Lender oa the bssis of assasments and hills and rcasonabk atimata thereof. ? The Fw~ds shall be held ie an institu~ic+o the depasia or accounts of which arc irnuced or Suara~te~d bY ~ Fed~nl ot , state a~ency (includi~a Lendet if Lender is such an inatitutionl. I.ende~ stiall apply the Funds to pay said tua. assasm~nts. ` inwranoe Remiwnt and ~nd rents. 1_ende~ may oot cha~~e for se~ hoWine snd sPplYins the Funds. analyzing said account, or vaityin=.and oomplinj said asxssmertts and bills, unlas Lender p~ays Borrawer interat on the Funds and applicabk 1aw permits L~mder to malce such a charge. Borrower aad L.endtr may a`roe in writins at the time of execution of tha Mo~tp~e tbat interat on the ~nds shall be paid to Borrower. and ualas such agreement is made o~ applicabk law requires such interat to be paid. Lender shall not be rsquircd to pay Borrower any intercst or eamings on the Funds. l.ender sha11 pve W Borrower, without cha~e. an annual aecou~ting of the Funds showing credits aod debits to the Funds and iht ; purpose for ~rhich each debit to the Fuads was made. The Funds arc pledged u additional xcurity for the sums secured ' by th~ Mort~ase. If t6e amouM ot tbe Funds IKM by L.ender, together with the future monthly installments of Funds payabk prior to tbe due data of tues. auessments. inaun~ce premiums and g~ound rents, shall exceed the amount required to pay said tues. as~eameats. i~uranoe premiums and ~round rents u they fall due. such excess shall be. at Borrower s option. either p~ompdy cepaid to Borrower or cradited to Borrowu on monthly installments of Funds. If the amount of the Funds lidd by L,~nder shal! not be w~icieat to pay ta~ca. ~asme~ts, insurance prcmiums and around rents as ~hey fall due. Bormwer shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed by I.eader to Borrowec ~questin8 WYment thereof. Upoa payment in full of all w~aa acured by this Mortgage, t_ender shall promptly refund to Borrower any Funds held by Lenckr. If under puasraph 18 hereof the PropeRy ia sold or the Propeny u otherwise acquired by Lender, Lender shall apply. no later t6an immediately prior to the sak of the Property or its acquisition by [.ender. any Funds held bv I.eoder u tha time of application as a c~dit against the :ums secu~ed by this Mortgage. 3. A~iieatio~ at ~eNs. Unlas applicable law provida otherwise. all payments received by Lender under the Plote and paragraphs I and 2 heroof shall be applied by Lender first in paymcnt of amounts payable to Lender by Borrower under paraaraph 2 hereof. thea to interest payabk on the Note, then to the principal of the Note. and then to interest and principd on a~y Future Advances. 1, Crat~a; i.itat. Bo~rower shall pay all taxes, asxssments and other charges, fines and impositions attributable to tLe Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manner ~ providod under puagraph 2 hereof or. if not paid in such manner, by Borrower making payment, when due, direcUy to the ptyee the~eof. Borrower shall promptly furnish to Lender a!1 noaces of amouats du~ under this paragraph, and in the event Borrower shall make payment directly. Borrower shall promptly fumish to Lender receipts evidencing such payments. BorroMrer shall pmmptly discharge any lien which has priority over this Mortgage: provided, that Borrow~r shall not be required to discharge any such lien so long as Borrowe~ shall agrce in writing to the payment of the obligation securtd by such lien in a manner acceptabk to Lender. or shall in good faith contest such lien by, or defend eeforcement of such lien in. kgal proceedings which operate to prevent the enforceme~t of the lien or forfeiture of the Propeny or any pan thercof. S. Huard lasnrs~ce. Borrower shall keep the improvements now existing or hereafter erected on the Property insured againtt loss by fire, hazards included within the term "eatended coverage", and such other hazards u Lender may requirc ! aad in s{uh amountc and for such periods as Le~der may requirc; provided, that Lender shdl not require that the amount of ; i wch ccverage euceed thae amount of coverage requircd to pay the sums secured by this Mort6aae. ' ~ 'Ibe insuranoe curier providing the insurance shall. be choxn by Bonower subject to approval by Lender. provided, ; t6at such approval shall not be unreawnably withheld. All premiums on insurance policies shail be paid in the manner ! providdi under paragraph 2 hercof or, if not pai~ in such mannor. bX Borrower making payment, when due, dirccdy to the ~ insurance carrier. : ~ All insurance policies and re:~ewals thereof shall be in form acceptable to Lender and shall include a standard mortgage ; ~ clause in favor of and in fornt uceptabk to Lender. Lender shall have the right to hold the policies and renewals thereof. ' i j aad Borrower shall promptly turnish to Lender all renewal notices and all receipts of paid premiums. in the event of loss, ` Borrower shall give prompi notice to the insurance carrier and Lender. Ler~der may make proof of loss if not made promptly ~ by Borrower_ ~ ~ Unless Lender and Borrower othenv~se agree in writing, insurance proceeds shall be applied to restoration or repair of ~ the Propeny damaged, provided such restorat~on or repair is economically feasible and the security of this Mortgage is : not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Mortgage would ` be impaired. the insurance proceeds shall be applied to the sums securW by this Mortgage, with the eacess. if any. paid , ~ ' to Borrower. If the 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 the insurance carrier oflers to seule a claim for insurartce benefits, Lender ~ is authorizod to collect and apply t6e insurance proceeds at Lender's option either to restoration or repa~r of the Propertv or to the sums securod by this Mortgage. ~ Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principa) shall not extend ~ or postpone the due date of the momhly installments referred to in paragraphs 1 and 2 hereof or change the amount ot ~ wc6 installmeats. If under paragraph 18 hereof the ProFerty is acquired by Lender, all right, title and int~rest of Borrower ~ in and to any insurance policia and in and to the proceeds thereof raulting from damage to the Property prior to th~ sale ~ or acquisition shall Qass to Lendor to the extent of the sums secured by this . Mortgage immediately Qrior to such sale or ~ acquisition. s~~ 6, h+eservatioe aod Maiotcnaace of Propecty; Leasehulds; Condominiums; Planned Unjt Devebpments. Borrower shall keep the Property in good repair and shall not comro~t yvaste or permit impairment or deterioration of the Property Q aod shall comply with the provisions of any lease if this Mortgagc is on a leaschuld. !f this Mortgage is on a unit in a condominium or a planned unit development, Borrower shall per(orm all of Borrower.'s obligations under the decfaration ~ or coveoants creating or governing the condom~nium or planned unit development, the by-laws and rcgulations of the 5 condominium or planoed unit development, and ccnstituent Jocuments. I( a condominium or planned unit development ; rider is executed by Borrower and recorded toge~her with th~s Mortgage, the covenants and agreements of such rider ~ shall be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider 3 ~S were a part hereof. PrMection of Lender's Security. If Borrower (ailc m per(orm the covenants and agreements contained in this = . ~ Mortgage, or if any acUOn or proceeding commcn~ed whirh materiall~ :~fierts Lender's interest in the Property. ~ ~ including, but not lim~ted to, eminent domain. insc•lvency, code enforcement, or arrangements or proceedings involving a F bankrupt or decedeM. then 1_ender at I.ender's option, upc?n notice to Borrower, ma} make such appearances, Jisburse such ' ~ : ~ sums and ~take such ac~ion as is necessary t~? pro~ect Lender's imerest, mcluJing, but not lim~ted to, disbursement of # ~ reasonable auomey's tees and en~ry up~m the Proper~}• to make repairc. 1t Lender rryuireJ mortgage incurance as a ; condition of makinR thc loan secureJ by this Mortgage. Born•wer shall pay the premiums requireJ to maintain such `I insurance in efTect until such time as the reyuirement (or ,ach mwrantc ~erminates in aceordance with Borrower's and ~ U o 30s ~ ' . .+nr.r i'• ~J~~ Ju•. N~ ~ ~ _ „Y_.. - .r`.~ ~ ~ _ ' - .?~c~