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Home My WebLink About24121 , ~.~ . . UNilORM COVlNAtiTS. 8orno~re~ and l.ender covenanl aod ss~ee u follows: 1. ~weN ot hMe1M1 a~d iNerat. Borrowe~ shall p~ompd~ paY when due the p~incipal ot and i~tercst on the indebtednat evidenced by the Note. Ptepayment and late chargcc ac providcd in ~he Nde. and tt-e principal ot and interesl on any Futuro Advances securod by this Mortjate. 1 lhi~i tor Ta:M Mi I~we~ee. Subject to applicabk law ar to a written waiver by Lender. Borrower sha~~ P~Y to I.eoder on Ihe day mo~thly installmems of principal a~d intcrccl rrr payable u~ds~ the Note. until the Note is paid in tull. s tum (hercin "Fuad~'7 eqwl to one•tweltth of the yearl) ua~~ anJ assessments which may attain priority over this Mortja~e. and ~round reots on tbe Property, it any. F+lus onc-~weltth ol yea~ly prcmium instaliments tor hszard insurance, plus oae-twei[th of yearly prcmium installmen~s (or mongage insunncc, if any, all u rcuonably estimated i~itially aod fmm time to time by I.eader oo the buis of assessmcnts and hills and rca~onable estimates thercot. 'Ibe Funds shall be held in an instiwtion the depos~u or accounts of which arc insured o~ guaranteed by a Fedenl or state ajency (includina Lender it Lender is such an instilutionl. 1_ender ahall apply the Funds to pay said uzes, assessments. intunince premiums a~d 6tcwnd rents. I.e~der may not cha~ge ror so Aolding and applying the Fundc. analyzing caid actount, or verityin~ and rnmpling said asussments and bills, unless Lender pays Borrower interest on the Fuods and applicable law permits L.ender to malce such a charge. Borrower a~d Le~der may agrce in writing at ~he ~ime o( executio~ ot this Mo~tp~e tbat ioterest on the Funds shall !+e paid to Borrower, and u~las such agreement is made o~ appliable law requira such interat to be paid. Lender shall not be rcquired to pay Borrower any interat or earnings on the Funds. Lender shaU aive to Borrower, without charge, an annusl accouniing of the Funds showing credits and debits to the Funds and ihe purpoae tor which eaeh debit to the Funds was made. The Funds are plodged as additiooal security for the sums secured by tlas Mortp~e. ' If tbe amount ot the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due data of tues. assessments. insura~ce premiums and ground rcnts, shall exceed the amount required to pay said taxes, a:sasments. insurance premiums and ground reots u they tall due, such excess shall be, at Borrower s option, either pranptly repaid to Horrower or credited to Borrower on monthly installments of Funds_ If the amount ot the Funds held bp Leoder shall ~ot be sulricieat to pay taxa, assessments, insurance peemiums and grou~d rents u they fall due, . Horro~rer shall pay to Leoder any amount necessary to make up the deficiency within-30 days trom the date notice is mailed by Lender to Borrower rtquesting payment thercof. Upon paymeat in fu0 of all sums secured by this Mortgage, 1_ender shall promptly retund to Borrower any Funds held by l.ender. If under pusgraph 18 hereof the Property ie sold or the Property ~s othervvise acquired by Lender, Lender s6a11 apply, no later than immediately prior to the sale o( the Propeny or i~s acquis~tion by Lender, any Funds held bv I.eo~kr at the time of application u a credit against the sums secured by this Mortgage. 3. A~piic~tjoa ot Payaesfs. Untess applicable law provides otherwise, all payments received by Lender under the Note and paragraphs I and 2 htreof shall be applied by 1_enJer first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof, then to interest payable on the Noie, then to thc principal of the Note, and then to interest and principal on any Future Advances. ~. C6ar=es; Lk~. Borrower shall pay all t:~xet, assescments and o~hcr charges, 6nes and impositions attributable to 1be Property which may attain a priority over this Mortgage, and leasehold payments or groun~ rents, if any, in the manner p~+ovided under paragraph 2 hercof qr, if not paid in such manner, by Borrower makmg payment, when due, dircctly to the payee thereof. Botrower shall promptly furnish to Lender all notices of amounts due under this paragtaph. aad in the event Borrower shall make payment dirertly. Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrower shalt promptly dixharge any lien which has pnonty over thn Mortgage: provided, that Borrower shall not be rtquired to discharge any such lien so long as Borrower shall agrec in v-nlmg ti~ the payment o( the obliga~iun securcd by suc6lien in a manner acceptable to Lender, or shrll m goc-d faith contest such lien hy, or Jefend enforcement of such lien in, legal proceed~ngs which operate to prevent the enforcement o( the I:en or [orfeuure of the Property or any part thercof. S. Hwrd In~urawce. Borrower shall keep the ~mprovements now exisung or hereafter erec~ed on ihe Property insurod against loss by fire, hazards included withm the term "e~tendeJ cove~age", and such other hazards as Lender may require wd in such amounts and for such periods as Lender may requirc: pravided, that Lender shall not requirc that the amount of such rnverage exceed that amount of coverage requ~red to pay the sums secured ~by thirs Monaage. 71~e insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided. tbat such approval shall not be unreasonably withheld. All prem~umc on insurance polic~es shatl be paid in the manner provided under paragraph 2 hereo( or, d not pa~d in ~uch manner, by Borrower mak-ng payment, when due, directly to thc insurauce curier. All insurance policies and renewals thereof shall he in form accept~blr to Lender and shall include a standard mortgage clause in favor of and in form acceptable to Lender. l.ender ~hall have the right to hold the policies and renev-als thereof, and Borrow•er shall prompUy furn~sh to Lender alt reneK•al not~ces and all receipts of paid prcmiums. In ihe event of loss, Borrower shal! gne prompt nouce to the insurance carrirr •rnd Lender. l_ender ma} make proof of loss if not made prompNy by Borrower. Unless Lender and Borrower otherw~se agree in wnting, insarance procceds shall be applied to rcsloration or repair of the Property damaged, prov~Jed such re.torat~on or repair is economically feasible and the security of this Mortgage is not thereby impaired. I( such restorat~on or repair is not econumically feasible or if the securiry of this Mortgage would be impaired. the insurance proceeds shall be applied to the sums SecureJ by this Mortgage. with the excess, if any. paid to Borrower. lf the Property is abandoned by Borrower, or ~t Borrower fails to respond to Lender within 30 days from the date notice is maded by L.ender ro Borrower that the insurance carrier ofTers to set~le a claim for insurance bene6ts, Lender is aut6orized to collect and apply the insurance proceeds at LenJer's option either to restoration or repa~r of the Propert~~ or to the sums secureei by this Martgage. Unless Lender and Borrow•er otherv~ne agree m wntmg, an~~ such applica~ion of proceeds to pnncipal shall not extend or postpone ~he due date of tbe monthly installmcros rcfcrred tc. in paragraph~ 1 and 2 hereof or change the amount ot such installmeats. If under paragraph IS hereo[ the ProE.erty is acywred by Lender, all right, title and interat of Borrower in aad to any k-surance policies and in and to the proceeds thereot resuliing from damage to the Property prior to thc sale or acquis~tion ahall pass to L.ender to the e~-tent of the wms secured by this 1~lortgage immediately prior to such sale or acquisition. 6. Pnservalion and ~laiotenance of Propert~; Leascholds; Condominiums; Planned Unit Developments. Borrowcr shall keep the Property in good repair and shall not comrpit y-•aste or perm~t impairment or deterioration of the Property aod shall compl~ with the provis~ons of any lease ~f th~~ Mortgage ~~ un a leaxhold. I( this Mortgage is on a imit in a condominium or a planncd omt Jcvclopment. Borrowcr shall ~xr(orm all of Borrower's obGgations under the declaraUon or covenants creat~ng or govern~ng the cond~~minium or planned unit development, the by-laws and regulations of the condominium or planned unit development, and comtituem J~xumentti tf a cundominium or planned unit development nder ~s executed by Borrower and recorded a~gether with ihn Mnrtgage, the covenants and agreements of such rider shall be incorporated into and shall amend :+nd wpplement the co~enants and agreements of this Mortgage as if the rider werc a part tereof. 7. Protection o( Lender's Security. lf B~~rri~v-er (.,d. tu ~xrl~~rn~ the covenant~ an~ agreements contained in this Mortgage, or if any action ur proceedmg ~~ ci~mmrnced v.he~n matcriallt .+firct~ Lender's ~nterest in the Pr.~pert~•, including. but not lim~ted to. emm~nt doma~n. imrhenc~. ~udc rnt~~rcemem. ~~r arrangcmrnls or pn.ceedin~s ~nvolcing a bankrupt or deceJeM. ~hen I.enJer at I.ender'~ c~puon, up~m n~~~ice to Borrower, m~~ make such appearances, d~shurse such sums and take such action ~~ a nece~tiar~• tu protect Lender'c interect, mclu~l~ng. hut not limited to, d-sbursement of rcasonable attomey'~ tecs and emry uEx~n thc Pn.pcri}~ t,~ makc rcpeir~. It I.ender reyuircd mortgage incurance as a cond~Uun ot making thc loan ticcureJ by thn ~tar~g.+gc. B~~rrrHCr sh dl pay Ihc prcmiumc req~~ired to mai~itam wch insur~nce in rlTect unL) tiuch dme as ihe rcyu~rrmem (or ~uch m,uran;r Icrminaleti ~n :~ecordance wi~h Borr.~wer'c and ~ ~ g~~345 P~GE~41~ . . . : ~. .... _ : - ° - - - ~ ._..~;.~.~