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Home My WebLink About0833 UNtrouH CovaN~r+ts. Hono~ver u~d L~de~ oovenant and asra u tollows: 1. lq~e~t ~t hi~t~l a¦i We~eM. Borrower shall promP~~y WY When due the principal ot and interat oe the indebtednea evideaocd b~r the Not0. p~Mri~~t aed late char~es a.c provided in the Note, and the priocipd of ud inte~est oa aay Future Advsnces secured bp this Mott~ate. l1~i tK T~s a~i I~wr~ee. Subject to applicabk !aw ~x to a written waiver by Lender. Bor*'ave~ shal! P~7 to Lender on the day monthly installmeots of principal and intcrest arc payaMe under the Note. until the Note is paid in tull. a sum (l~erein "Funds'ti eqwl to onc~twdith ot the yea~l~• az~~ ancl auasments which may attain priorit~? over this Matja~e, snd Sround rena oe ~be propeny. if any. R?lus ona~weltth d yearly~ poemium installments for hazard insurance. plus oae-tweltth ot yearty premium installments for monga~e insunncc, if any, all u reasonabfy estimated initially and ttnm time to time by Lender on the basis of assasmc~ts and hills and rcawnabk estimata thereat. The Funds shall be beW in an institutic+n the depos~a or accouots of ~rhich are i~nured or ~uannteed by a Fedenl ot ttate a~ency (i~cludinai.ender if Lender is such an institutionl. 1_e~der shall apply the Fu~ds to pay said taxes. assessmen~s. iasuranoe premiwns and ~mund rents. t_ender may not charge for se~ holdin= and applyina the Fondc. analyzin~ ~aid account, , or verityinj aad rnmpilin~ said assessme~a and bills, unkss Leader pays Bormwer interest ort the Funds and applicable law ~ permits Le~der to make such a charge. Bonowe~ aad L.ender may aa~e in writin` at the time ot ezceution of this Mortsase tbat interat on the Fuads shall'be paid to Borrower. and unless such ajroement is made or applicabk law requiea wch iaterat to be paid, Lender shall not be required to pay Borrower any intercst or prnings o~ the Funds. Lender s6all pve W Borrower. without charge, an annual accouoting of the.Funds shawina crcdits and debits to the Funds a~d the purpose for which eacb debit to tbe Funds wu made. The Funds arc plodged u additional socurity for the sums securod bY thi: Mort~a~e- If the amount ~o[ tbc Fund: held by L,ender, together with the future monthly installments of Funds payabk prior to t6e due data of tues, asussmena. inwnnce prcmiums and ground «nts, shall exceed the artwunt rcquired to pay uid tues. au~ments. i~uraace premiums and around rents u they fall due, such excess shall be. at Borcower s optian, either promptly repaid to Bormwer or croditod to Borrower on monthly insullments of Funds. If the amount of the Funds held Ay Lender shall not be sut6cient to pay taxes. assessme~ts, insurance prsmiums and ground rents ss they fall due. Borm~ver shall pzy to I.ender any amount necessary to make up the deficierrcy within 30 days trom the d~te notice is maikd by I.eoder W Horrowerrequatina paYment theroof. Upon payment in fuU of all wms secured by this Mortgage, Lender shall promptly retund to Borrower any Funds held by Lender. If undet puagraph 18 hercof the Property ia sold or the Propeny ~s otherwise acquircd by Lender. Lender s6a11 apply, ra later tban immediately prior to the sak of the Propeny or its acquisition by I.ender. any Funds held bv Leoder at the time of applicatan as a crcdit against the sums secured by this Mortgage. 3. A~plicatio~ of Pa~eds. Unkss applicable law Provides othervvise, all payments received by Lenckr und~r the Note and pafagnp'hs 1 aad 2 hertof shall be applied by Lender 6rst in payment of amounts payable to Lender by Borrower . under paragraph 2 heroof. then to intzrest payabk on the Note, then to the principal of the Note. and then to intercst and principd on any Future Advanoes. ~ 4. C6sRes; Ueas. Borrower shall pay all taxes, assessments and other charges, fines and impositions atlributable to t6e Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manaer pnuvided under paragraph 2 hercof or, if not paid in such manner, by Borrower making payment, when due, directly to the payee thec+eof. Bormwer shall promptly furnish to Lender all notices of amouats due under this paraaraph. and in tbe eve~t Bormwer shall make payment directly, Borrower shall promptly fumish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over ~his Mortgage: provided, thai Borrower shall not be ~equired to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation securcd by such lien in a manne~ acceptabk to t.ender, or shall in good faith contest such lien by, or defend enforcement of such lien ia, ' legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof. S. Hwrd inwrawce. Borrower shall k~ep the improvements now existing or hereafter erected on the Property insurod j against loss by 6rc, hazards included with~n the term "extended coverage", and such other hazards u Le~der may rcquire and in such amounts and for such periods as Lender may require; pro~ided, that Lender shall not requirc that the amount of ' such coverage exceed that amount of coverage requircd to pay the sums secured by this Mor~6aae. ; I 'Ibe i~nurance carrier providing the insurance shall be chosen by Sorrower subject to approval by Lender. provided. i t6at such approval shafl not be unreasonably withheld_ All premiums on insurance policies shail be paid in the manner ~ provided under paragraph 2 hercof or. if not paid in such manner, by Borrower making payment. wh~n due, directly to the insurance carrier. ~ Al! insurance policies and renewals thercof shall be in form acceptable to Lender and shal) include a standard mortgage ~ clause in favor of and in form acceptable to l.ender. I.ender shall have the right to hold the policia and renewals thereof. ~ and BorrowYr shall promptly furnish to Lender all renewal no~ices and all receipts of paid premiums. 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 Botrower_ ~ ~ Unless Lender and Borrower otherwise agree in writing, i~surance proceeds shall be applied to restoration or rep~ir of ' the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is not ~hereby 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 sccured by this Mortgage, with the eacess, if any, paid to Borrower. If the Property is abandoned by Borrower, or it Borrawer fails to respond to Lender within 30 days from the date notice is ma~led by L.ender to Borrower that Ihe insurance carrier of~ers to settle a claim for insurance benefits, Lender is authoriud to collect and apply the insurance procteds •rt Lender's option either to restoration or repair of the Propertv ~ or to the sums secured by this Mortgage. ~ Unless Lender and Borrower otherwise agree in writing, any such apPlication of proceeds to principal shall not extend or postpone the due date of the monthly installments referred to in paragraphs 1 anJ 2 hereof or change the amount of ~ soch installments. If under paragraph i8 hereof ~he Property is acquired by Lender, all right, title and interest of Borrower ~ in and to any itisurance policies and in and to the proceeds thereof resulung from damage to the Property prior to th~ sale ~ or acqaisidon shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or ~ acquisition. ~ 6. Pte~ervation and ~taintenance of PropeAy; Leasehulds; Condominiums; Planned Unit Derdoptaents. Borrower shall keeQ the Property in good repair and shall not com~vit yvaste or permrt impairment or deterioration of the Property and shall compl~~ with the provisions of any lease it th~s Mortgage n on a leaschold. If this Mortgage is on a unit in a ~ condominium or a planned unit development, Borrower shall perform all of Borrower's obGgations under the declaration ~ or coveoants creating or governing the condominium or .planned unit develupment, the by-laws and regulations of the ~ condominium or planned unit development. and constituent Jocumentc. If a condominium or planned unit Jevelopment ~ rider is executed by Borrower and recorded together w~th this Mortgage, the covenants and agreements of such rider ~ shall be incorporated into anJ shall amend and supplement the co.~enants anJ agreements of this Mortgage as if the rider ~ were a part hereof. ~ '7. Protection of Lende~s Securfty. I( B~rrower failc t~• perform the covenams and agreements contained in this - ~ ~ Mortgage, or if any action ur proceeding cummenced which materially afTrc~s I.ender's interest in the Property. ~ including. but not lim~ted to, em~nent domain. inc~?he~c)', c~~de enforcemem. or •rrrangemenis or proceedings invohing a ~ bankrupt or deceJent. ~hen l.ender at I.ender's op~ion, u~~n notice to Borrower. ma} make such appearances, disburse such ~ sums and take such action as is necet~ar~• tu protect Lender's ~nterest. ~nchidmg. but not limrted to, disbursement of ~ reasonable attorney't (ces and entry up~.n the Property to make repairc. If I.ender reyuireJ mortgage insurance as a ~ condibon u( mak~ng the loan tiecureJ b}• th~s Murt~age. Bi.rrowrr shall pay the prem~ums req~ureJ to maintain such ~ ' ~ ' insur~nce in clTcct until such t~mc as Ihc reyuircmcnt for tiuch insurancc tcrminatrs ~n :~c:ordancc with Bormwcr's and ~ ~ ~ ~ ~ ~ ~iU6 -4~E 832 ~ Fa