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Home My WebLink About0518 .J UNtronw Covtw~rns. Horrow~~ and l.eade~ oov~ant and a=ree u tollows: L~M ~t T~Mei~l ri I~le~ed. Botwwer shall p~omP~~) Wy when due the principsl ot and intetest oe the a~debtednat evidenoed b~r tbs Note, pnpaym~t at~d late cFwr~as a.s ~uovided in the Note. and tha principd ot and intet+at oa my Futw~e Advances secwod b7? tuif Mortsase• 3, !b¦i h~ 7~ ay I~we~ee~. ~bjoet to applicabk law ~x to a writtrn waiver bg? Lender. Ho~ro~re~ s~11 Wy - to Leader on the dar monthly installments ot principsl and interost ~re payaMe under the Note. uMil the Note is paid in tull. s auen (hereln "Fur~'~ eqwl to oao-twelfth of the yearl~~ ax~~c ~nJ a:sas~nents which auy sttain priority ove~ this Mort~~e. and ~round ra~b oa tbe Prnperty. it any, plus ooe-tweltth of yeul~i premiuan in3tallments for haurd inwrance. plus oao-hrelfth ot yeatty premium ie~stallments tor mort~aje inuirance. if sny. dl as ~easonsbly ~stimated ieitially and tnonn dme to time by I.ender oa t6e bssis of assessments and hills and roasonabk atimata thereof• '!be flrnds shall be l~eld in ar~ institutic+o the deposiu or accounu of which are inwred or Nahnteed by a Federal ot qate aseocy (includinj Irender if Lender u such an institutionl. I.eoder shall apply the Funds to pay uid taxa, auessme~b. ; iawraooe premiumt a~d ~round rents. l.ende~ may eol cbarge for sc? holdins aod applyint the F~~~s. analyzins said account, or v~ityin~and complin~ said assasments ~od bills. unkas Leade~ Qays Botrower interest on the Funds aod applicable law ' permits Lender to make such a chu~e. Borrower and Lender may a~rce in writin` at the lime of exceution oi this Mortsa~a that intuat on the Futds absll be paid to Borrowe~, and ualas such asroement is made or app~icabk ~~M? requira wch interat to be paid. Leoder shall ~ot be required to pay Borrower aoy intercst or earnings on the Fuads. Lender sha11 ~ive to Borrower~ witbont char~e. an annwl sccounting of the Funds showina crediu and debits to the Funds and the purpose [or which at~ debit to tbe Funds was made. The Funds are pkdged as additional sxurity for the wms secured by tha Mottja,~e. - If the amount of tLe Fuad: hdd by Lender. together with the futuro awnthly installments of Funds payabk prior to t6e due data of tua. assasments. ~esuranoe premiums and ground rents. shall excoed the amount requircd to pay said tana. _ at~eQts. inwtinoe premiums and .~round r~nts as they fall due. such excess shall be. at Bonower s option. either rou prampttp repaid to Borrowr.r or a~edited to Borrow~er on monthly i~stallme~ts of Funds. if the amount o[ 1he Funds 1kld by L~nde~ shall aot be s~d6catat to pay taxa, ~tx~u~nts. insurance premiums and ground reMs ss they fall due. Bon+o~rer s6a11 pay to Lender any amouet necasary to make up the deficiency within 30 days from the date notice is mailod ~ by IRader to Bormwer requatina payment thercof. Upoo payment io full of all wtt~s socuecd by this Mongage. Lender shall promptly ~sfund to Bornuwer any Funds ~ held bry? I,tnder. If unda para~rap6 18 her~cof the Property ia sold or the Property a othen~?ise acquired by Lender, Lender shall apply, no later tliu~ imanediatelY prior to the sak of the Prope~ty or ita atquiaition by Lender. any Funds held bv ~ [,eoder u tbe time of application si a credit agsinst the :ums secured by this Mortgage. y 3. A~iic~tio~ ot Unlas applicable law provida otherwise. all payments receivod by I.ender under the Note aad paragcapbs 1 and 2 hereof shall be applicd by Lender first in payment of amounts payable to Lende~ by Bonower under paragraph 2 hereof. thea to iaterest payabk on the Nore, then to the principal of the Note. and then to intercst and priacipal on any Future Advances. . ~ C~e~ I,kas. Borrower shall pay all uaes, assessments and other 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 s provided under puasraph 2 hereof or, if not paid in such manner, by Borrower making payment. wha~ due. direcdy to the z psyee t6eneof. Borrower shall promptly fumish to [.ender aq notices of amouots due under this paraaraph.~ and in the eveat i Borrower shall make payment direcUy. Borrower shall Qrompdy furnish to Lender receipts evideacing such payments. ; Botwvver shall ptoa?ptly discharge any lien which hu priority over this Mortgage: provided. that Borrower shall not be ~ requircd to discharge any such lien so bng as Borrower shall agrce in writi~g to the payment of the obligatwn ucurod by such lien in a manner acceptabk to Lender. or shall in good faith contest such lien by, or defend rnfoc+cement of such lien in, ~ legal proceedings which operate to prcvent the enforcement of the lien or forfeiture•of the Property or any part theroof. ; S. Ra~rd IesrraK~e. Borrower shall keep the improvements now existing or hereafter erected on the Property insurod ; against loss by firc, haurds included wi~hin the term "eatended coverage", and such other hazards as Lender may require and in wch amounts and for such periods u~ender may require; provided, that Lender shall not require that the amount of such coverage exceed that amount of coverage required to pay the sums secured ~by this Monaage. '[be insurancx carrier providing the insurance shall be chosen by Borrower subject to approval by Lender. provided. ~ thst wch approval shall not be unrcasonably withheld. All premiums on insurancc policies shail be paid in the manner ~ providod undcr paragraph 2 hereof or. if not pai~ in such manner, by Borrower making payment. when due. dirxtly to the E inwrwce carrier. ~ All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage ~ clause in favor of and in form uceptable to Lender: l.ender shall have the right to hold the policia and renewals thereof, ~ ~ and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss. k Borrower shall give prompf notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly g by Borrower. Unlsss Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoiation or repair of ~ tha Property damaged. provided such restoration or repair is economically feasible and the socurity of this Mortgage is ~ not thereby impaircd- lf such restoration or repair is not economically fcasible or if the security of this Mortgage would ~ be impaired, the insurance proceeds shall be aQplied to the sums secured by this Moctgage, with the exce.u, if any, paid ~ to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to rapond to I.ender within 30 days from the ~ date aotice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits. Lender $ is autborized to collect and apply tt~e insurance proceeds at Lender's option either to restoration or repaer of tt~e Property ~ ~ or to t6e sums securcd by this Mortgaga t Unless Lender and Borrower otherwix agree in writing, any such application-of proceeds to principal shall nut extend ~ or pastpone the due date of the monthly inuallments referred to in paragraphs 1 and 2 hereof or change the amount o[ suc6 installmeuts. If under paragraph 18 hereof the Pro~,erty is acquired by Lender, all right, title and interat of Borrower ~ ~ in and to any Auurance policia and in and to the proceeds theroof resuldng from damage to the PropeRy prior to thc sale ~ or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or ~ uquisition. 6, hwervatbo aod Maiotenance of PropeAy; Lessehulds; Condominiums: Planned Uait Derdopaxnts. Borrower ~ shal! keep the Property in good repair and shall not comtpit yvaste or permit impairment or deterioration of the Property and shall comply with the provisioas of any lease i( this Mortgage is on a leasehold. If this Mortgage is on a unit in a . ~ condomi~ium or a planned unit development, Borrower shall per[orm all of Borrower s obligations under the declaration ~ or covenan~s creating or governing the condominium or planned unit development, the by-laws~ and regulations of the ~ ~ condominium or planned unit development, and constituent documents. If a condominium or planned unit cievelopment i ~ rider is executed by Borrower and recorded together with this 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 ~ w•ere a part hercof. protec~ion of Leoder's Stcurity. If Borrovrer failt t~ perform the covenants anJ agreements contained in this ~ Mortgage, or if any action or proceeding ~s commenced which materially afTects LenJer's interest in the Property, ~ includ~ng. but not limittd to, eminent domain. insolvency, rode enforcement. or arrangements or proceedings invoh•ing a ~"r bankrup~ or decedent. ~hen Lender at Lender's option, up~m notice ~o Borrower, ma~ make such appearances, disburse such ~ sums and I~ke such action as is necessary tu protect Lender's mterest, incluJing. but not limited to, disburaement of ~ ~ reasonable attomey's tees and cntry upun the Property to make repa~rs. 1( I.ender required mortgage insurance as a ' conditron of making thc loan xcureJ b}• this Mortgagc, BormKCr shall pay thc premiums requireJ to mainta~n such i ~ insurance in efiect until such ?ime as ~he reyuirement for ~uch insurance terminates in accordance with Borrower s and r ~ , ~ u R - SoG~3U7 ~~~E 518 ~ ~ _ ~ ~.a~~:.~ ~