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Home My WebLink About0845 UNtraua Oovanet+». BocTOrver snd Leade~ covensnt and asroe u toilows: ~ liq~weN ~t l~ie1N1 aM I~Mr~M. 8orrowe~ shall ~uomP~~) WY when due the principal of aod interat on the ;ndabtedna~ evidenoed by tbe Nde. prepa~t aad late clwraec u ~xovided in the Note, and the principal of ud inte~+est ea any Future Advsoca sxurod by this Mort~a~e. /~r '1y~~s ri I~ea Subject to applicabk law ~x to a wtitten wai~?er b~? Lender. Borro~we~ shall P~Y to I.eader on the day mo~thly installments of priocipal and intcrest are payabk unde~ the Nde. until the Note is paid in tull. a tuan (berein "Fuads'~ eqwt to ono-twdith of the yea~l~ tax~-. an~l assessmeou which may attain priority ove~ this Mortjajt. and ~oouad reeb on the Peoperty. it a~y. plus onrtweltth of yearly~ premium iastallments tor hazaod insurance. plus ooe-twelfth oE yearly prcmium installmtnts tor morttsae insunncc. it any. all u roawnably estimated initially and trom time to time by Leoder oa tbe basa of asses.sments and hills and rcasonabk atimata theceof• , 'll~e Funda shalt be bekl in an institutian the deposia or accounts of which arc insured or gwranteed by a Fede~al ot state s~eocy (includina Lender if Lcnder is such an institutionl. I.eoder shall apply the Funds to pay sa~d taxa. assessme~ts. . iawranos ~emiums and tooued rsnts. 1_snder may nd charge fo~ so holdina and aPplYias the Fundt. analyzing said atcount, ; or veriEyin~ snd oompiliaa uid assessments and bilh. unlas Lende~ pays Borrower intC~ the Funds and applicable law • permiet l~ender to make :uch a charae. Bonowe~ aad Lender may a~rce in w~tina at the time of exaution ot this ~ Mo~tpse tbat interat oe the Funds shall be paid to Bonower. and unlas such aarcement is "made or applicabk law requira such interat to be paid. Lender shall not be rcquired to pay Borrower any interat or earnings on the Funds. Lender s1W1 pve W Borrower~ witbout clurge, an annwl accounti~g of tl~e Funds showioa crcdits and debits to the Funds and the purpose for which eicb debit to the Funds was made. The Funds arc plodged u additional security for ~he surtu secured by thi: Mottp~e. I[ tlfe artwunt ot tl~e Funds held by Lender, together with the future monthly installments of Funds payabk prior to the due data of taxes. assasmeats, insuranoe premiums and ground rents, shall exceed the amou~t requircd to pay said tua. au~eats. i~uranc~ premiwns and gr~wind rents u they tall due. such exceis shall be. at Borrower s option. either promptly repaid to Borrower or croditod to Borrower on monthly installments of Funds. If the amount of the Funds heid by Lender shall not be wlficieat to piy tua, sasessmeots, insurance prcmiums and ground renu as they fall due. Hocm~?e~ sball pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed by Lender to Borrower requestin8 P~Yme~t ~hereof. Upoa payment in fuU of dl s~ana secured by this Mortgage, l.ender shall promptly rcfund to Bormwer any Funds held by_Leader. If unda puauaph 18 hercof the Property is sold o~ the Property ~s othetwise acquired by Lender, Lender - shall apply, no later than immediately prior to the ssk o( the Property or its acquisition by Lender, any Funds held bv I.eader at the time of application u a credit against the :ums securcd by this Mongage. 3. A~ticatio~ ot P~eds. Untess applicable law provides otherwix, all pay-ments received by Ltnder under the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in paymcnt of amounts payabk to Lend~r by Borrower undor paragraph 2 l~ereof. thea to interest payable on the Note, then to the principal of the Note, and then to intercst and principal on any Future Advaoces. 1. C~e~ Lk~s. Borrower shall pay all ~axes, assessments and other charges. 6nes and impositions attributabk to tbe Property which may attain a priority over this Mortgage. and leasehold payments or grouod rents,.if any, in the manaer pt+ovided under paragraph 2 hercof or, if not paid in such manner, by Borrower making payment, when due, directly to the ' papee theroof. Borrower shall prompdy furnish to Lender all notices of amounts due under this paragraph. and in the eveat j Borrower shall tnalce payment directly, Borrower shall promptly turnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which hu priori~y over this Mortgage: provided, that Borrower shaU not be ~equircd to discharge any such lien so long u Borrower shall agrce in writing ta the payment of the obligation secured by ` such lien in a manner acceptabk to Lender, or shall in good faith contes~ such lien by, or defend enforeement of such lien in. ~ legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thercof. S. Hasard Inssn~ce. Borrower shall kcep the improvements now existing or hereafter erected on the Property i~uurod against loss by fire, hazards included within the term "extended coverage", and such other haurds u Lender may requirc and in such amounts and for such periods as Lender may requirc: provided, that Lender shall not require that the amount of wch covenge exceed that amount of coverage required to pay the sums secured by this MortEa~e_ I T6e insuranve carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provi~d, t6at wch approval shall not be unrcasonably withheld. All premiums on insurance policies shafl be paid in the manner f provided under paragraph 2 hereof or. if not paid in such manner, by Borrower making payment, when due, directly to the ~ insurance carrier. ~ All insurance policies and renewals therrof shall be in form accep~able to Lender and shall include a standard mortgage ; clause in favc,r of and in form uceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, ! and Borrow~er shall promptly furnish to Lender all renewal notices and all receipts of paid prcmiums. In the event of loss. f Borrower shall give promp! notice to the insurance carrier and Lender. Lender may make proof of loas if not made promptly ~ by Borrower. ~ Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, provicied such restoration 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 secured by this Mortgage, with the excess, if any. paid ~ to Borrower_ If the Properry is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days trom the date notice is mailed by Lender to Borrower that the insurance carrier oHers to settle a claim for insurance benefits, Lender ~ is aut6oriud to collect and apply the insurance proeceds at Lender's option either to restoration or repasr of ihe Propenv or to t6e sums securcd by this Mortgage. Uoless Lender and Borrower otherwise agree in N•riting, any such applica~ion of proceeds to principal shall not extend or postpone the duc date of the monthly installments referred to in paragraph~ 1 and 2 hereof or change the amount of suc6 installments_ !f under paragraph 18 hereof the Property is acquired by l.enJer, all right, title and interest o[ Borrower - ~ in and to any tns~rance policia and in and to the proceeds thereof resulting from damage to the Property prior to thc sale ~ or acquisition shall pass to Lender to the eatent of the ~ums secured by this Mortgage immediately prior to such sale or ~ acquisition. ~ 6. Pnservation and Maintenaace of Properly; Leasehulds; Condominiums; Plsnned Unit Developmenls. Borrower ~ shall ketp the Property in good repair and shall not comroit yvaste or permit impairment or deteriotation of the Property ,t and sha11 comply with the provisions of any lease if this Mor~gage i~ on a leaschold. If this Mortgage is on a unit in a ; ~ condominium or a planned unit development, Borrower shall perform all ot Borrower's obligations under the declaration ~ ~ or covenants creatiog or govern~ng the condommium or planned unit develupment, the by-laws and regulations of the ' condominium or planned unit development, and constituent Jocumentc. I( a condominium or planned unit Jevelopment ~ rider ~s executed by Borrower and recorded together w,th this Mortgage, the covenants and agreements of such rider ~ shall be incorporated into and shall amend and supplement the covenanls anJ agreements of this Mortgage as if the rider were a part hereof. ~ 7. Protectioa of Leode~s Security. If Borro..er failc t~• perform the covenants and agreements contained in this ~ Mortgage, or if any action or proceedmg ~s commcnce~l ..hirh materially aBec~s 1_ender's ~nterest in the Property. including. bu1 not limited to. em~nent domain. ins~~l.ency, code enforcement, or arrangements or proceedings mvol~•ing a ~ bankrupt or decedent, then Lender at I.ender's op~ion, upon notice to Bormwer, ma~ make such appearances, disburse such sums and take such action as is necessary~ tu pro~ecl t.ender's mlerest. including. but not lim~ted to. disbursement of ~ reasonable at~omey's (ecs and entry upon thc Propcn~• to make rcpair~. I( LcnJer reyuircJ mortgage insorance as a 9 ~ condrt~on of making the loan secured b}~ th~s MortFagc. B~.rruWrr shatl pay the premiums requireJ to maintain such ~ ~ insurance in rfTect unul such time as the reyuiremeni fot .uch msurancc term~nat~s m accordance with Borrower s and ~ ~ ; ~ ~ ~ ' a~. F? ~~6 -a};_ ~ 844 , . . A , . Z ~ +r~ ..~~.3 ~ c.,~Y . ~ . . ~~T.S~