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Home My WebLink About0143 UNtra~~t Cov~n~Nts, Borro~rer and l~ende~ cove~snt and a=roe u follow:: L ha~eM W hl~dNl ~¦i LN~e~I. Bormww ~all promP~~) WY when due the principal ot and interat on the indebtednw evidenoed b~? the Note, prepaymeot and late chargec a_c ptovided in the Note. and the principal ot and inteteu a? aay Futuro Adv~nces secured bp this Mortsaje. 1 l~r¦i~ hr 71~ans a~i [~wrree. Subject to applicabk law ~x to a written waive~ bgr I.ender. Borrowe~ sha11 P~7 to I.ender on the day monthl~? installments ot principsl and intcrcct arc payst~k unde~ the Note. until the Note is paid in tull. • wm (l~srein "Fuad~'~ equal to oa~-tweltth ot tha yea~l)~ ~ax~~ anJ assessmcots which msy attain priority o~e~ this Motijaje. aad ~round rents oA tlie Propeny. if any. E?lus ooe-~weltth of yearly premium installmeou for hazard insurance. plus ooo-tweltth o[ yeulY premium installmeols tor mort`ase ins~~rancc, it any. all as ressonably estimated initially snd irom time to time by Leoder oa the buis of assasmsats a~d hills and rcasonabk atimata thereof. 'Ibe Ftmds shall be beld in an iestitution the deposita or ~ccou~ts of ~rhich are insured or guanoteed by a Federal ot state a~eocy (inctudin` l.ender if Lender is such an institutionl. 'l.ende~ shall apply the Funds to pay said tua. assasments. iawranoe premiums aod ~ound rents. I.ender may not charge io~ sc~ holdinj and applyinj the Fnnds. analyzin~ uid aecount, or vsrifyinj_s~d oomplinj s~id usessments and bills, unkss Leoder pays Borrower interat on the Funds and applicabk ~aw pemtiq~Leeder to make such a charQe. Borrower and Lender may asrce in writina at the time ot exaution of this Mortpse tbat ioterat on the F~ad: sball be paid to Borrower. and uakss auch a~ment is made or applicabk law requira wch interat to be paid. Lender 3hall ~wt be requirod to pay Borrower any interest or earni~gs on the Funds. Lende~ s6all pve to Hormwer~ witlwut char~e, an annual accounting of the Funds showina crcdits and debits to the Funds and the purpae for which eich debit to the Funds wu made. The Funds arc pledgod u additional socurity for the sums socured by thi: Mortja/e. If the amount ot the Fun~ heW by Lender, together with the future monthly i~stallments of Funds payabk prior to tbe due data of ta~ca. assasments, i~urance premiums and ground rents, shall ezceed the amount requirtd to pay said taxa. ' ~qeaments, i~utance premiums and ground ~ents as theY (all due. such excess shall be. at Borrower's option, either prop~pdy repaid to Borrower or ctedited to Borrower on monthly installments of Fut~ds. If the amount of the Funds bdd by I,eoder shal! not be wBiciwt to psy tazes. asaasmcnts. insurance premiums and ground rents as they fall due. Hotrawe~ tbaU pay to l.eader any amount necessary to make up the deficiency within 30 days from the date notice is mailed by L~oder W Borrower requatin8 P~Yme~t ther~of. Upoa payment in full of dl sums securod by this Mortgage, Lender shafl promptly refund to Borrower any Funds . held by Leader. If under puagraph 18 heroof the Property i~ sold or the Propeny ~s othervvix acquired by Lender. Lende~ :ha!! appty. no later than_ immediately prior to the sak of the Property or its acquisition by Lender. any Funds heid bv t,ender at the time of application as a credit against the sums secured by this Mortgage. 3. A~ikat~ ot ty~e~ls. Unless applicable law provida otherwise. all payments receivod by Lender uoder the Note and pangraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower ; under pars~raph 2 hereof. t6en to iaterest payable on the Note, thcn to the principal of the Note. and then to interest and . F principal on any Future Advances. ~ 1, CY~es; Lie~s. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to ; tbe Property which may attain a priority over this Mortgagc, and leasehold payments or ground rcnts, if a~y, in the manaer ~ pt~vided under puagraph 2 hercof or, if not paid in such manner, by Borrower making payment, when due, directly to the ? psyee thereof. Borrowu shall prompUy furnish to Lender all notices of amouats duc under this paragraph, wd in the event % Bormvrer shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments. ; Borrower shall promplly discharge any lien which has priority over this Mortgage: providcd, that Borrower shall not be ?equirod to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligatiun secured by such lien in a manner acceptabk to Lender, or shall in good faith contes~ such lien by, or defend enforcement of such lien in. i legal proceedings which operate to prcvent the enforcement of the lien or forfeiture of the Property or any part thereof. S. Hazud Isw~a~ce. Borrower shall keep the improvements now eaisting or hereafter erected on the Property insured against loss by firc, hazards included withi~ the term "extended coverage", and such other hazards as Lender may rcquire ~ aad in wch amounts and for such periods az Len~ler may require; provided, that LenJer shall not require that the amount of I wch coverage exceed that amount of covenge required to pay the sums secur'ed by this Mortaage. ~ The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by L.ender, providod. i that such approval shall not be unrc~sonably withheld. All premiums on insurance policies shatl be paid in the manner E providod uoder paragraph 2 hercof or, if ~not paid in such m~nner, by Borrower maicing payment. when due, directly to the E E inwrance carrier. ; All insurance policies and renewals thereof shall be in fofm acceptable to Lender and shall include a standard mortgage ; clause in favor of and in form uceptabte to l.ender. Lender shall have the right to hold the policia and renewals thereof. ! and Borrower shall promptly furnish to Leoder all renewal notices and all receipts of paid prcmiums. in the event of loss, ; Borrower shall give prompi notice to the insurance carrier and Lender. Lende~ may make proof of loss if not made promptly ~ by Borrower_ z ~ Unless Lender and Borrower otherw~se agree in writing, insurance proceedc shall be applied to restoration or repair of ~ the Property damaged, proviekd such restoration or rePair is economically feasible and the security of this Mortgage is not lhereby impa~red. I[ such restoration or repair is not economically feasible or it 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 Property is abandoned by Borrower, or i( Borrower fails to respond to Lende~ within 30 days Irom the ~ date aotice is mailed by Lender to Borrower that the insurance carrier of~ers to settle a claim for insurance benefits, Lender ~ is aut6oriud to collect and apply the insurance proce~ds at Lender's option either to restoration or repa~r of ihe Propertv ~ or to the sums secured by this Mortgage. Unless I.ender and Borrower otherwise agree in writing, any such application of proceeds to pnncipal shall not extend ~ o~ poslpone ~he due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of ~ wc6 installmeots. If under paragraph 18 hereof the Property is acyuired by l.ender, all right, title and interest ot Borrower ~ in and to any Ruurance policia and in and to the proceeds thereof resulting from damage to the Property prior to th~ sale ~ or acquisition shall pus to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or ~ acquisition. 6. heservatioe aod Maiutenance of Property; Leauhulds; Condominiums; Planned Unit Derelopments. Borrower y shall keep the Property in good repair and shall not comroit y. aste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease if ~h~s Mortgage is 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 obligations under the declaration ~ ~ or covenants creatiog or governing the condominium or ptanned unit development, the by-laws and regu at~ons o the ~ condominium or planned unit development, and constituent documentc. lf a condominium or planned unit development rider is executed by Borrower and recorded together wnh this Martgage, the covenants and agrcements of such rider shall be incorporated into and shail amend anJ supplement the covenants and agreements of this Mortgage as if the riJer ~ r were a part hereof. • ~ ' 7. Prolectioo of Lender's Securfty. If Borrower fadc tn perform the covenants and agreements contained in this ~ Mortgage, or if any action or proceeding is a~mmenced whi~h materiaUy afiects I.ender's interest in the Properry, including. but not lim~ted to, eminent domain, incolvency, code enforcement, or arrangements or proceedings invol~~ing a ~ bankrup~ or decedent. ~hen Lender at 1_ender's option, up~m natice to Borrower, may make such appearances, disburse such ~ sums and Iake such action as is necessary tu protect Lender's interest, incluJing. but not limited to, disbursement of ~ ~ ~easonable attomey's tces and en~ry u~n thc Property ~o makc rcpairs. It Lrndcr reyuireJ mortgage insurance as a condrtion o( making thc loan ucured by this Mortgage. B~,rr~~wrr shali pay the premiums requireJ to mainta~n such ~ insurance in efiect unlil such time as the reyuiremem for wch msurance terminatcs in :?ecordance with Borrower's and € ~ 310 yAF.~ 143 ~ , ~ ~