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Home My WebLink About2432. : ` , ;` ' UN[~ORM COYlNANTl. ~[OMC~ ~fld l.d1d!- CO~-C11int alld ~~fC! ii ~O~~OWS: 1. rq~e~t ot hi~e~i a~ 4Ne~a~. Borrowe~ shall p~ompd) psY when due the pri~cipai ot and ieterest on the i:~debttdnq~ evidenoed by tt~e Note. Prepayment and late chargec ac provided in ~he Note, and the p~ncipsl of and inter+est on aoy Future Advances secured by this Morttaac. 2. lrit [et T~~s Mi 1~wrMC~. 5ubject to applicabk law or to a written waivs~ by l.ende~. BorTaMrcr shall psy to I.eader on the dsy nw~thly installments of principal and intcrcc~ arc payaMe under the Note. until the Note is paid in tull, a wn (heni~ ':Fu~'~ ~qwl to one-tweltth of the yearl~' ta~-~~ and assasments which may attain priority . over this Mortsa~e. aud ~round rents oe tbe Property, if any, plus one-twelfth of yearly premium i~stallments for hsiard insu~ance. plus oae-twelfth of yearly prcmium installmen~s tor mortgage insurance. if any. sll as rcssc~nably estimated initially and trom time to time by Leader on tbe basis of asxssments and hills and rcasonabk estimates thercof. jltt Fur~ds shall be heW in an institution the depoxits or accounts of which are insured or guaranteed by a Federal ot state aseocy (including Lender if [.cnder is such an institu~ion). I.ender shall apply Ihe Funds to pay sa~d taxa. asxuments. insuranoe ~emiums and ~ound tents. l.ender may no~ charge for u+ holdiog snd applying the F~mdc, analyxing said account. or vtri[yins a~d compilina said assessments ~nd bills, uoless Lender pays Borrower interat oo the Funds and applicable !aw permits I.ender to make such a charge. Borrower and Lender may aaree in writing a~ the time ot execution of this Mortpse tbat interest on the Funds shall be paid to Borrower, and unlas such agrcement is made or applicable law requires such intetat to be paid. Lender shall no~ be requircd to psy Bo~rower any interat or earnings on the Fuods. Lender s1~aU pve to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpoae tot which eacl~ debit to the Funds wu made. The Funds arc pledged u additional security for ~he sums xcurcd by t6is Mortta~e. If the amount o[ the Funds held by Lender, together wUh ~he future monthly installmen~s of Funds payable prior to tbe due data of tues. asxssments. imurance premiums and g~ound rcnts, shall exceed the amount rcquired to pay said taaes. asseuments. ituura~ce premiums and grou~d rcnts u they (all due, such excess shall be, at Borrower s option, either pr~ompdy npaid to Bormwer or crodited to Horrower on monthly installments of Funds. If the amount of the Funds held bp l.ender shall not be wtGci~at to pay taxa. asassments, insurance premiums and gmund rents as they fall due, Borro~rer s6a11 pay to Lender any ~mount necessary to malce up the de6ciency within 30 days from the date notice is mailed by l.ender to Bortower ~equatinE paYment thereot. Upon paymeot in [ull of all sums socured by this Mortgage, l.endcr shall promptly refund to Borrower any Funds I~eld by Lender. If under puagraph 18 hereof the Property i~ sold or the Propeny ~s othervvise acquircd by Lender, Lender shap spply, no later than immediately prior to the sak o[ the Propeny or its acquisition by Lende~. any Funds held bv Leoder at the time of application as a credit against the sums secured by this Mortgage. 3. A~plicat~ of Payoeets. Unless applicable law provides otherwise. all payments received by Lender under the Note and paragnphs 1 and 2 hereof shall be applied by l.ender 6rst in payment ot amounts payable to Lender by Borrower uader parsgraph 2 hereof, t6en to interest payable on the Note, then to the principal of the Note, and then to interest and priacipal on any Future Advances. 4. C6srses; Lieas. Borrower shall pay all ta~es, auessments and other charges. fines and impositions anributahle to tbe Property vrhich may attain a priority over this Mongage, and leasehold payments or grouna rents, if any, in the manner Pruvided under paragraph 2 hereof or. ~f not pa~d in such manner, by Borrower making payment, when due, diroctly to the payee thereof. Borrower shall promp0y furnish to Lender all notica of amounts due under this paragraph, and in the event Bormwer shall make payment dir«tly, Borrower shall promptly fum~sh to Lender rereipts evidenc~ng such payments. Borrower shall promptly dixharge any lien which has priority over ~hic Mongage; provided, that Borrower shall nd be tequired to d~scharge any such lien so long as Borruwer shall agrce in wnt~ng to the payment of the obligatiun secured by such lien in a manner acceptable to Lender, or shall in gaxi faith contest such lien by, or defend enforcement of such lien in, kgal proceedings which operate to preve~t the enfurcement of thc I~en or torie~ture of the Property or any part thereof_ S. Nazard Inwn~ce. Borrower shall kcep the ~mprovementt now• existing or herea(ter erected on the Propeny insured against loss by firc, hazards included within the term "extendeJ coverage", and such o~her hazards as I_ender may reyuire and ~n such amounts and for such periods as Lender may require: provided, that Lender shall not requirc that the amount uf wch coverage exceed that amount of coverage requ~red to pay ~he sums secured by this Mortaage. "I~ iosurance carrier providing thc insuranre shall be chosen by Borrower subject to approval by Lender. provided, that such approval shall not be unreasonably withheld. All premwm~ on insurance policies shall be paid in the manner provided under paragraph 2 hereof or. ~f not pai~ in such manner, by &~rrower mak~ng payment, when due, dircctly to the insurance curier. All insurance policiet and renewals therrof shall be in form acce~table to Lender and shall include a standard mortgage clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, and Borrower shall prompdy furmsh to Lender all renewal nouces anc~ all rece~pts of paid prcmium~. In the event of loss, Borrower shall ~ive prompt nouce ro the ~nsurance carrier and I.enJer. Lender may make proot of loss if not made prompUy by Borrower. Unless Lender and Borrow•er otherwise agree in wnting, inwrarece proceeds shall be applied to restoration or repair of the Property damaged, prov~ded such restorauon or repa~r is economically~ (easible and the security of th~s Mortgage is not thereby impa~red. If such restorahon or rcpair is not economicalty feasible or if the security of this Mortgage would be impaired. the msurance proceeds shall be applied to the sums xcured by this Mortgage, wi~h the excess, if any, paid to Borrower. If the Property is abandoneci by Borrower, or ~t Borrower tails to respond to Lender within 30 days from !he date notice i~ ma~led b)• Lender to Borrower that ~he msurance rarrier oHers to settle a claim for insurance bene6ts, Lender is authorized to collect and apply the insurance proceeds at LenJer's option either to restora~ion or repa~r of tht ProExrt~• or to t6e sums secured by this Mortgage. Unless LenJer and Borruwer othen-ise agree ~n wnting, any such application of prcxeeds to pnne~pal shall not extend or poslpont the due date of the monthl}• installmentc referred ti~ in puagraph~ I anJ 2 hereof or change the amount ot wcb installments. If under paragraph 18 hereof the Propert~ is acywred by Lender, ~II nght, title and inttrest of Sorrower in and to an}• -nsurance policiu and in and to ~he proceeds thereof resuinng from damage to the Propeny prior to th~ sale or acquisiUOn shall pass to Lender to the extent of the sums secured by th~c rtortgage immediately prior to such sak or acquisition. 6. ~I'litfYAllOp and ~taintenance ot Propert~; Leaseholds; Condominiums; Planned Unit ikvelopmenfs. BorroN~cr shall kcep the Property in good repair and shall not comroit y~aste ar permit ~mpairment or deterioration of the Property and shall comply with the provis~ons of any lease ~t this Mor~gagc ~~ on a leaxhold. If this Mortgage is on a unit in a condominwm or a planned unit de~elopment. Barrow•er shall pertorm all of Borrower's obl~gations under the declarahun or coveoants creatmg or govermng ~he condommwm o~ planned i~ni~ devel~-pment, the by-laws and reg~dationc oi ~he condomin~um or planoed unit develo~,ment, anJ canstituent d~ument5. I( a conJominium or planned unit development rider ~s eaecuted by Borruw~er and rerorded t~~gether with thi~ 11ic-rtgage, the covenants and agreements of ~uch rider shall be ~ncorporated ~nto and shall amend anJ supplement the co~enants and agreements of this Mortgage as ~f the nder were a part tereof. T. Protection of Lender's Securfty. I( B~rr~wer fa~lti u• perf~rm the covenams and agreements cantained ~n this Mortgage, or i( any actux~ ~~r proceed~ng ~c c~•mmeneeJ Nhicn matenall~ afirctc LenJer's ~nterest in the Property, ~nclud~ng, but n~~! lim~ted ~o. eminent domain. mtie.{~enc~. code enfarrement. ~~r arrangementc or pruceedings invol~ing a bankrupt or decedent. then I.ender a~ I.enJer'i option, up~m notice ~~ BormK•er, ma~ make iuch appearances, dishune such sums and take such acuon ac ~s necessary tu prrnect l.ender's ~nterest. mcluding. but ri~t limrted to, disbursement o( reasonable attorney'c fees and entry u~~n thc Property to makc rcpnuti. I( i.cndcr rcyuired morlgage incurance ac a condiUon of making the loan ~ecureJ b} this ~torlgage. B~~rr~:wcr sh.dl pay the premiums requ~red to mainta~n such in~urance in et~ect unt~l Luch time as the reyuiremen~ (or .u~h in;uran;e terminates in accordance K'IIFI BO(f~~K'Cf S anJ 4 - - ~ ~~ ~x 345 P:GE 243f ~