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Home My WebLink About0883 i : UNilO~M COVlNANTi. Borrower and l.ende~ oovenant and a~rce u follows: 1,. htj~t ef hic~1 ~i 1Nhw1. Bormwer shall promptiy psY when due tbe principal of and interesi on the indebtedneu evideacsd br tbe Nd0. pnWY~t and late chargec a.c provided in the Note, and the priecipal of and interat oa my Futute Advsaces ~ecured by this Mortja~. > l~~i ter Taaus a~i l~wrrca Subjat to applical+k law to a written waiver by Leoder, eoRO*~ wr ~ to Lender on the day ittonthly instdlments of principal and intcrcc~ an. payable uode~ the Note, until the Note is paid in full. . a ttdn (htrein "Fut~dt'~ eqwl to onatwdith of the yearly ta~?~~ anJ auessments which may attain priority over this ' Mortja~e. aad tround renls on tbe Poopeny. if any. plus o~e-twelfth of yearlp premium installments [or haurd i~surance. ' plus oae-twelfth of yearly prcmium installmenta for mortttge insurance, if any. all u ressonably estimated initially aod trom + time to time by Lender on tbe buis of assasments and hills and rcuonabk atimata thereof. The Funds shall be I~eld in an institwion the deposita or accounts of ~rhich are i~ueed or auanntced by a Federal ot ~ ttate a~ency (includina L,ender if Lender is such an institutionl. 1_ender shall apply Ihe Funds to pay said laxa. asseuments. ? a ~ inwrat~ea premiums and ~round rents_ 1_ender may not cha~ge tor sc~ holdin` and applyina the Fnnd~. analyzin~ said account, or verifyin~.snd compliaa said assessments and bills, unkss l.ender pays Borrower interat oe the Funds and applicable law j pertnits Lender to mske such a charge. Borrower and l.ender may agree in writing at the time of exaution ot this = Mott~e that interat on the Fuads shall be Paid to Borrower, and uakss such agrcemenl is made or applicabk law ' requira wch interat to be paid. Lender shall not be rcquircd to Qay Borrower any intetat or eamings on the Funds. Lender ~ shall pve to Borrower. without charge, an annwl accounting of the Funds showina crcdits and debits to the Fu~ds and the purpose for which ach dtbit to tbe Funds was made. The Funds are pledged u additional saurity for ~he sums secured : by tbis Mortp~e. ~ If tbe amouet o[ the Funds held by Lender, together with the futurc monthly installments of Funds payabk prior to ' t6e due data of taxa. assasmeats. insurance premiums and ground rcnts, shall exceed the amount required to pay said taxes. asse~fneats, iraurance premiums and ground re~ts u they fall due, such excess shall be. at Borrower i option, either promptly repaid to Horrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds 6dd by Leuder shdl uot be sut6cieat to pay tues, assessments, insurance prcmiums and ground rents as they fall due. Borro~rer s6a11 pay to Lender any amount oecassary to make up the deficiency within 30 days from the date notice is maikd by I.eader to Borrower requestia8 WYment thercof. Upon payment ia full of all swas secured by this Mortgage, l.ender shall promptly refund to Borrower any Funds beW by Leodtr. If undw paraaraph 18 hercot the PropeRy i~ sold or the Propeny ~s othenvise acquired by Lendcr, Lender ~ sball appty, no later than immediately prior to the uk of the Property or i~s acquisition by [.ender. any Funds held bv I,ender at the time of application u a credit against the :ums secured by this Mortgage. 3. A~piicatio~ ot Pq~~e~b. Unless applicabk law provida othervvix, all payments received by Lender under the Note and pangraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Le~der by Borrower under puagraph 2 hereof. t6en to interest payabk on the Note, then to the principal of the Note. and the~ to interest and priucipal on any Future Advances. 1. (.'~es; I3eas. Borrower shall pay all taxes, assessments and other charges. 6nes and impositions attributable to the Property which may attain a priority over this Mortgage, and leasehold payments or gmund rents. if any, in the manner provided u~der puaanph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, di[ectly to the payee thercof. Borrower shall promptly fumish to Lender all notices of amouats due under this paragraph. and in tt~e eveat ' Borrovrer shall make payment directly, Borrower shall promptly (umish to Lender rcceipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shall not be rcquired to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligatiun securcd by sucb lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in, legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thtrcof. 3 S. Harard ie~anrawce. Borrower shall kcep the improvements now~ existing or hereafter erected on ihe Propeny insurod against loss by firr, hazards included within the term "extendeJ coverage", and such other hazards as L.ender may require aad in such amounts and for such periods as Lander may require; provideJ, ihat l.ender shall not require that the amo~nt of such coverage eiceed that amount of coverage required to pay the sums secured by this MortaaEe. i The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, providod, . 4 i t6at wch approval shall not be unreasonably withheld. All premiums on i~surance policies sha11 be paid in the manner I provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment. when due, di~ectly to the ~ i~urance carrier. E All insurance policies and renewals therc-of shall be in form acceptable to Lender and shall include a standard mortgage ~ clause in favor of and in form acceptable to Lender. Lender shatl have the right to hold the policies and renewals thereof, ~ and Borrower shall promptly furnish to Lender all renewal notrces and all receipts of paid premiums. In the event of loss, ~ ( Borrower shall give prompE notice to the ~nsurance carrier and Lender. Lertder may make proof of loss if not made promptly i ~ by Borrower. ~ Unless Lender and Borrower otherwise agree in writing, insurance procceds shall be applied to restoration or rcpair of the Property damaged, prov~cled such restorat~on or ~epair is economically feasible and the security of this Mortgage is i not thereby impaired. If such restoration or repair is nut rconomically feasible or if the ucurity of this Mortgage would s be impaired, the insuranc~ proceeds shall be applied to the sums securcJ by this Mortgage, vvith the excess, if any, paid to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 3a days irom the date notice is ma~led by l.ender to Borrower that the insurance carrier ofiers to settle a claim for insurance benefits, L.ender is aut6orized to collect and apply the insurance proceeds at Lender's option either to ~estoration or repair of the Propertv ~ or to t6e sums secured by this Mongage. . Unless I_ender and Borrower otherv?ise agree ~n writing, any~ soch application of proceeds to principal shall not extend ~ or postpone the due date of the monthl}' installments referred to in paragraphc 1 and 2 hereof or change the amouni of = such installments. If under paragraph 18 hereof the Pro~,erty is acyuired by l.ender, all right, tiUe and interest of Borrower in and to any Insurance policies and in and to the proceeds thereof resultmg from damage to the Ptoperty prior to th~ sale or acquisition shall pass to Lender to the extent of the sums se~:ured by this btortgage immediately prior to such sale or acquisition. ~ 6. Preserratioo and Maiotenaact of Property; Leasehulds; Condominiums; Planned Uoit DevebPments. Borrower ; shall iceeP the Property in good repair and shall not comrpit y?•aste or permit impairment or deteriotation of the Property ~ - and shall compl~~ with the provisions ot any lease if this Mortgage is on a leaschold. If this Mortgage is on a unit in a condotninium or a planned un~t development. Borrower shall perform all of Borrower's obligaUOns under the declaration ~ or coveoants creating or governing the condominium or planned unit develupment, the by-laws and regulations of the ~ condominium or planoed unit development, and cons~ituent document~. If a condominium ur planned unit Jevelopment ~ nder is ezecuted by Borrower and recorded together K~th ~h~~ Mortgage, the covenants and agreements of such rider ` t shall be incorporated mto and shall amend and suppl~ment the co~enants anJ agreements of this Mortgage as if the rider y were a part hereof. ~ 7. Protection of Lende~'s Secu~Sty. It Borrower fa~l. t~~ ~xrfc.rm the covenants and agreements contained in this ~ Mongage, or if any action ur proceeding ic commence~l wh~ch n~ateriaUy afircts I.enJer's interest in the Property. ~ including. but n~~t 6mited to, eminent domam. inw.l.cnc~. r~xle rnfarcement. ~~r arrangements or proceedings involving a - ~ bankrupt or decedent. then Lender at i.ender'~ opdon, u~~n nat~ce to Borrow•er. may make such appearances, d~sburse such sums and take such actiun at is necec~ar}• tu protect l.ender's mterest. incl~iding. but not limited to, d~sbursement ot ~ reasonable auomey~'s (ces and entry upun the Propcr~y to makc repa~r~. lf Lcnder reyuired morlgage insurance as a ~ condiUon o( mak~ng the loan cecureJ by this Murtgagc. B~~rruurr shall pay the prem~ums reqinreJ to maintam wch ~ iruurancc in eticct until such time as ~hc rcyuircmcnt for .u~h ~nwrancc ~~rminatcs m accordancc w~ilh Bot[owcr's and ~ fj ~ ~ 1.1.1' ~/O6 . ~ . ~~i ~ ' ~ w'.., . ~ _ . . . . ~ ~ i