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Home My WebLink About2847 _r UNIFORM COVENANT3.6orrosrar and Lenoer.oownant and agree se tollowt - . t . PayrnerK of Ptirtolps! atrad Interest. Borrower shall prompty psy whendue the principal of end interest on the incdebtsdnsasevidenoedbydteHots, prepaymeMand iatectwgesasprovided in~i~a Note.andthe pngcipal d:andinlerest on any Future Advances secured by this Mortgage. ~ - Z. Runde forTsttN and InWrsnee. Subtecl to applicable law of to a written waiver by lender, Borrower shall pay b Lender on the day mon~hy it»tellAtents of principal and interestaro payable under the Note. until ri>e Note is paid in full, a sum (herein "Fur>d:"? equal fo orfPtweiaR of the yearly Mies attd.assssanenls which may attain priority over this • Mortgage, and gro~u1K1 rarlta on the Property, i(,Any, plus orb-tLvalfth 9tYearly premium instal(mepts (or hataird.insurance, plus one~tweftthpfyQarlypremiuminstaUrrtentsfo~mortgage;nstuatlce..itany,allaareasaonablyestimatedinidalyandfrom - time to time by Lender bn the basis of assessments and bilfs.and reasonable estimates thereof. ' ' - ThbFunds shall-be hrild irt'an institution thtr deposits or' accounts of which are insured or glmt8hteed dy a`Federal or state agency including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments, insurance premiums and ground rents. Lender may notcharge for so holding and applying the Funds, analyzing said account, ~ a verifying and compiling said assessments ar~d.bil~, Untess.t~enclar pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this Mortgage that interest on the Funds shall p@-paid to Borrower. acid unless such agreement is made or applicable law - r~equiressuchiMeresttobepa' .~wrc~.urp~be lB~Qpa a gr+theFunds.Lender - siwii yiw ic) ow iuwetr. wittiGUt ctta~ .~'y6 ~ ~ a~ ~~o. a:.C:irg tlt ~ 8 >`u s E!tGStn~ g c.4 :ts43.lt ~sbrtslto the Fu:tds and the purpose for which each debit to the Funds was made. The Funds are pledged as additions! security for the sums secured ay this Mortgage. _ - ~ - It the amount of the Funds held by Lender. together with the future monthly installments of Funds payable prior to - thedue dates of taxes, assessments. insurance premiums and ground rents, shall exceed the amount required to pay said taxes. assessments. insurance premiums and ground rents as they tall due, such excess shall be, at Borrowers option, either - promptly repaiid ~ Q~~ cJ~di ~ to Borrower on monthly installments d Funds. If the amount of the Funds Itetd by lender shatle'SSflftiCieht~ay taxes. assessments, insurance premiums and ground rents as they fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed by Lender to Borriaiefer req~sNd~ayriigAta'iBfeb~`-0~~ i Upon payme4(~r~fYll ~2ft! ~s ~34lfe$$'Rthisl~+I~ty~ge: L~r>par~shal~Qglpjty refund to Borrower any Funds held by Lender. If ~ is spl~pr the Properly is otherwise acquired by Lender. Lender shall apply, n0 lard _ r~1!~a~~~~~ party or its acquisition by Lender. any Funds held by i Lender at the ti ppli f ~sums~ s~tcured by this Mortgage: 3. Appllgtbn of PiryniMits. Unless applicable law provides otherwise. all payments received by Lender under the # Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender byBorrower - under paragraph 2 hereof, then to interest payable on_ the Note. then to the principal of the Note, and then to interest and - principal on any Future Advances. - 4. Charyes; Claris. Borrower shall pay all taxes, assessments and other charges. tines and impositions attributable to t the Property which may attain a priority aver this Mortgage, aril leasehold paymerW or Bound rents, t1 any. in the manner provided under~aragraRti 2 ~eof or, if not paid in such manr>Qr, by Borrower making payment, when due. directfy to the payee thereof. Borrower shall prorripty furnish to lender all rrotioes of amounts due under this paragraph, and in the event orrower shall make payment directly. B~xrower shall prompty/filitiish to lender receipts evidencing such payments. ~ocrower shall promptly discharge any lien which has priority over this Mortgage; provided, that. Borrower•shall not be required to discharge any such lien so kNig as Borrower shall apI'~ee in writing to the payment of the obligation secured by such lien in a manner acceptable to Gender. orshall in good faith contest such lien by, or defend enforcement of such lien in, legal proceedings which operate to prevent the enforcement df the Ilan x forfeiture of the Property or any part thereof. !S. Hasard ira~iranoe. Borrower shall keep the improvements r~vr existing or hereafter erected on the Property insured against loss by fire. hazards included within the term "extended coverage", and such other hazards as Lender may require _ and in sUctr p1F~t.1 and for such periods as lender require; provided, that Lender shall not require that the amount of such cov~re~ ~~I#N'F~"~°"Pt•ot 9~r~r Y'~ ~Pa4! ~ !s~~°.~~-~ m19IMP!t~gQ?i7f~~f i r.' The ir~S (ri thugs ~e ~ogQ~ls t_t epprowdlby r, provided. - that such ~ pv~Nall j, t so~n~~~ti~i , . d All ~i ~n i~~n~~~~i~~irr~~ol ~ 11 ~ ti the manner (~ovided ~urider para~~tr2iherest-or, if hbt`~paid irisuGi - nner, ? o~i~ rria~rig ue; birectly to the-- Y' - i insurance carries - I` All insurance polian~ renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage clause in favor of and in foim acceptable to Lender. lender shall have the right to holed the policies and renewals thereof. and Borrower shall promptly fugiish to Lender all renewal notices and all receipts of paid premiums. In the event of loss,- Borrower shall give prompt notice to the insurance carrier and Lender.`Lentfermsy make proof otloss if nbtmade-promptly 5y Borrovres' - . < - Unless Lender and Borrower otherwise agree in writing, insurance proceeds Sftal(beapplied to restoration or repair of the Property damaged, p[pvided such. restoration oc repair is economically feasible and the security of this Mortgage is not thL-Aby impaired If such restoration or repair is not economically feasible or it the security of this Mortgage would be impaired the inns rag e,proceedS ~~1~I.be applied to the sums secured by this Mortgage, with the excess, if any, paid to Borrower. It!li~ ' c is abar>'d~bf>~ by Borrower, or if Borrower fails to respond to Lender within 30 days from the date notice is mailed by Lenderto Borrawer that the insurance carrier offers to serile a claim for insurance benefits, Lender is authorized to collect and apply the insurance proceeds at lenders optgp4Bit~r~o r~toratigtt3~t repair ~ the Property or t¢tfiQ supts`secuired 4y~?'~'.'~14r~@~^I~ F~~ . I ` _ Unless Lerici'ei andB~orrower oliienwise agree in wrdmg, any such aaplication otproceeds.tQ. lest shall not extend or postpone the due date of the mouthy installments referred to in paragraphs t and 2 haFebP-dP c~ehge t'he amount of such installments. It under paragraph 18 hereof the Property is acquired by Lender, all right; title and interest of Borrower in and to any 6nsuranre policies and in and to the proceeds thereof resulting from damsge to the Property-prior to the sate Qr acquisition shah pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or - acquisition. ~ - - - ~ : - : - - _ - !s. PreservaticNr snd Msindnsncre of Property; t,~.a>,Ma; !!!!nty ftts,~'P~nntd tJriit tgsvelopmeats. Borrower shall keep the Property in good repair and shall not commit waste or permit impai?ment or deterioration ofthe Pro- party and shat! comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit iri a condominium or a planned unit devebpment, Borrower shall perform all of Borrowers obligations under the declaration. - - or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the condominium or planned snit developmenk and constituent documents. if a condominium or planned unit development rider:is ext~ut~,d bx,.~q{4Qwpr..~}d c~p~,lQgel with t~ts~Aortgaae, iho &ctvenants and agreements of such rider I shatfl"te`IndOrporatedlnto'antf'yytf~'r''all-a Arid su let fiCee~hover?ants ar4n agreements o! this Mortgage as if the rider were a part hereof. - - 7. Protection of Lreridsrs 8ecu If Borrower tails to perfom the covenants acid agreements contained in this Mortga~; or if -any action or proceedid commenced which i"rlatAy affieetg'Lender's interest. in -the- Property. ~ including, but not limited to. eminent domain, insolvency, code enforcement, or arrangements or proceedings invohring a bankrupt or decedent. then Lender at Lendersvption, upon notice to Borrower, may make such apoearances, disburse such sums and take such action as is necessary to protect Lenders interest, including, but not limited to, disbursements of reasonable attorneys fees and entry upon ih rPt ri~r ~ rrsa a irF,, if Lender.required mortgage insurance as a Condition of making the loan secured by th~1ljA~f38rro+A!ter-.aU;pay the premiums required to maintain such insurance in effect until such time as the requirement tOr such insurance terminates in accordance with Borrowers ~^tf m~324 f~ge2~lQ3 . - . - - ~