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Home My WebLink About0387, , . t~~ t UNlFORM COVEN~NTS. Bofrower and LCndcr c~~venanl and a~;r~~c as ~oUows: 1. Paymeat ot P~iocip~l and laterest. Bu~roNrr .h.~ll pr~~mpil~ pay Mhrn duc Ihc principel of anJ ~nterest on thc indebted~ess evidcnced by the Note, prepaymrnt and latc ch:~r~;~. a. providcd m ~he Notc, and ~he principal ot and mterc~~ ot~ any Future Ad~ances securcd by ~h~s Mortgage. 2. Fhadt ~o~ Tues ~nd I~uraoce. Subject to appli~;,hlc I:lN' ~-f 10 :f writ~en w~rvcr by I.ender, Borrowe~ shall pay to l.onder on ~he day mon~hly installmen~s of princ~pal and int~•rr.i .~~r payaMc under thc Notc, unti) the Notc is paid in full, s aum (herein "Funds") equal to one-twrlf~h of thc yearl~ ~a~r. anJ a..cs,mcn~. which may attain prioriry over this Mongage, and ground reots on the Property. if any. plus one-~~clhh ui yearly premium installments tar hazard incurance, plus one-twelfth of ytarly premium installmen~c tor m~~rtgage inwrancc. it any, all as reasonably ectimatcd initially and (rom time to time by l.e~der on the basic ot a+ce~~menlc and hill+ and r~a~unable ectimates Ihercof. 71~e Funds shal) be held in an institutu~n thc dc{x~.~t~ ur arcuunts ul whirh are insured or guarantee:l by a Fcderal or state agency (inc~uding Lender if 1_cnder ~~ ~uch :~n imlituhon 1. I.enJcr ~hall :-pply the Funds to p~~' ~aid ta~es, asceuments, insurance premiums and g~aund renh 1 rndet ma} n~1 charge tur u~ hulding and applying Ihe Fi~ndc. an:~lyrin@ caid acc~~unt. or verifying and compiling said asse..mems and bill,, unlrs. I.ender pay. Borrawer interes~ o~ the Funds and applicable law permits Lender to make such a charge fiorruwcr and Lender ma~• agree in writing at 1hr ~ime of exrculiun o( Ihis Mortgage that interest on the Funds ~F1:II) F1l' (1:111I to Borrower, and unles~ such agrccmcnt i~ madc or applirable law requira such interest ta be paid. l.ender shall n~i hr reyuired to pa~~ H~~rrowcr am interest ur earmngti on thc Fund~. I.cnJrr shall give to Borrower, without charge, an annual accounting ot the FunJti ~how~ng rred~ts anJ Jebi~c to tHe Fundl anJ Ihe purpose (or which ~ach debit to the Funds w:,ti madr. The I~und~ are pledged a~ aJditic~nat tiecuriiy tor the sums secured by this Mortgage. lf the amount of lhe Funds held by LenJcr, togethe~ with Ihe future monthl}~ in~lallmcnts uf Funds payable prior to the due dates of taxes, assessments, insurancc prcmiuma and grounJ rcnh, shalt cxcced thc amoum rcyuircd to p•ry said taxes, asxessments, insurance premiums and gn-und rents as Ihey (.~11 dur, such crce~s ,hall be, at Norrower's op~ic.n, either prompUy repaid to Borrower or credi~cd to Rorrower on munthly inctallmentc of Funds. If thc amount o( thc E•unds held by Lender shall not be sufTicitnt to pay taxes, assetismcnts, imurance premwm~ and ground rents as thc}' fall due. Borroae~ shal) pay to Lender any amount necessary w make up the Jefic~ency within 30 da~1 from Ihe date notice is mailed by Lender to Borrower requesting payment thercol. • Upor~ paymtnt in full ot all sums se~:ured by this Mortgage. I.endcr shall prompUy retund to Borrower any Punds held by l.end~r. If under paragraph IR hereot thc Propcrty u sold or thc Property is o~hcrwi.c acyuircd by l.cnder, Lcndcr shall apply, no later than immediatrly prior to the ~ale of thc Pro{x:rty or its acyuisition hy I.cndcr, any• Punds held by Lender at the time of application as a credit aga~nst the sumc ~ecured b~• th~s N1orlgag~. 3. Applieslion of Paymeats. Unle~s apphcable I~w• pm~ides rnhrrwiu, all paymentt rrceived by Le~der under the Note and paragraphs 1 and 2 hcreof ~ha11 l,c applicJ by 1~ndcr fint in paymcnt ~~t ~muunts payahlc to Lender by Borrower under paragraph Z hercof, then to intcrctit pa}•ahle on thc tiwc, thcn to the principal of thc Nute, and then tu intcrest and principal on any Future Advances. 4. CharRes; Liens. Borrower ~hall pa}• all t.~~e~. .n~et~mrnts anci o~her cha~es, finec anJ ~mpositions auribu~able to the Property which may attain a pnority over th~. ~tortg•rKc. and Icaschold payments or ground rents, if any, in the manner provided under paragraph 2 hereof or, d nut p:+id in such manner, by Borrower making.payment, when due, directly to ihe payee the~+eot. Borrower shall promptly furnish to l.endcr ell noticcs of amounts d~n underthis paragraph, and in the event Bornower shall make payment direrdy, Borrower ~h;,ll promptly furnish to Lender receipts evidencing such payments. Borrower shall prompUy discharge any lien ~ hich h:~c pnonty uver this Mortgage; provided, that Borrower ahall not be tequired to d~scharge any such licn w long as B~rruHCr shall agrec in ~ri~ing to the pa}•ment of the obl~gation secured by suc6lien-in a manner acceptable to 1_ender, ~r shall in g«~ci faith ronte,~ such lien by, or defmd enforcement of s~ch lien in, Iegal proceedings which operate to prcvent the eni~~rcrmem of th~ hen i~r for(e~ture of the Property or any part thereof. S. Hazard I~uurance. Borrower shall kcep Ihc impm~~cments n~i~ ctisting or hereaiter crccted on the Pmpeny insured against loss hy fire, hazards included withm the term "r~tende~ coverage". rnd such other hazardc ac l.ender ma~ reyuire and in such amounts and for such periods as Lender m.+y rcyuire; pn-vided, that Lender shall not reyuue that the amount ot such coverage e;ceed that amount of cover~ge r~yuued to pay thr wmti ua~rcd ~by this Morlgage. The insurance carrier providing the insurance ~hall be choten by Barmwer subject to approval by Lender; provided, that such approvat shall not be unreationahly withheld. AI! premium~ on insurance policies shall be paid in the manner provided under paragraph 2 hereof or, if not paid in such marsner, by Burrower making payment, when due, dircctly to the insurance carrier. All insurance polic~e~ anJ renewal, there~~t shall tx in form accept:~ble to LrnJer an~ shall ~ncludr a uandard mortgage clause in favor of and in form accep~~hle w Lender. Lender tih:,ll have the right to hold the policies and renewalt thereof. and Borrower shall prompUy [urnish to Lender all rcnew~al notices and all receipts of paid premiumti. In the even~ of lcxs, Borrower shall g~ve prompt nc~tice to the in~ur.~nce carner and I.ender. Lender ma}~ make pnx.t of loss ~f not made prompNy- by Borrower. ~ _ Unless Lerider and Borrowcr othcr~ „~ ~grce ~n :~ nt~ng, inwrance pnxecds shall bc applied to restoration or repair of the Property damaged, proviJed ~uch retituralwn c.r repa~r is ec~~nomicalh• feasihle and the seeurity of this M~rlgage ~~ not thereby impaired. If surh :esWrat~un or repair ~s n~~t rc~~n~~mically feasible or it the secunty of Ihic Mortgage wouW be impaired, the insurance proceeds shall be applied tu the sums secured b~• this Mortgage. w~th the eacess, it any, paid to Borrower. ~II the Properl~• n abanJaned h} H~~rruw~cr, ~~r ~i Borruwer fa~ls to res~x~nd to I.endcr w~thin 30 days from the date notice ~s ma~led by LenJer to BorruKCr that the insurancc carner ofTen ta ~et~le ~ claim for insuranee t+enefils, I.ender is authorized to collect and apply the imurance pn~ed~ at Len~er', opaon e~ther to res~oradon or repair of the Pmpert~- or to the sums secured b}• thi~ ~tortgage Unless Lrnder and Borrower otherx ix agrce in wnting, an}• siech applicativn ot pra:eeds to principal tihall not extend or postpone the due date of the m~~nthh• imt:~llments refcrrcd t.~ in paragraphti 1 anJ 2 hcreuf or changc ~he amuunt af such installmeuts. If under paragraph I ti hereo( thc Propert} ii acyi~~reJ h~ I:cnJcr, al{ rrght, ti11c and interest of Borrower in and to any insurance polic~es and m anJ to the prcx~eJs therevt resulung frum damage to the Pruperty prior to th~ s~le or acquisition shall pass to Lender to the e~tent of the wm~ ~ecured by thi~ ~lortgage immediately prior to such sale or acquisition. 6. Presen•ation and 1laintenance of Property; I.easeh~dds; ('onduminiums; Pl~nned Unit Ikrelopments. Borrowcr shall keep the Properly in goud repair and ~hall not comrpit K•aste or pcrmit impairment or deterioration of the Property and shall comply with the ptovis~uns of any lease-if thi~ Murtgage i~ ~~n a Icaxhuld. !f this Mortgage is on a unit in a condominium or a planned unrt de~•el~~pment, Borrower ~hall ~xrform all ot Borrower's obligations under the declrratiun or coveaants creadng or governing the condi~m~nium ar pL•~nnrd unrt development, the by-laws anc! regulations of ~he condominium or planned unit development, and constituent d~umen~~ If a condominium or planned ~mit devel~pment ndet is executed by Borrower and recordrd ingether with th~t Mc~rtgage, the covenants and agreemenls of such rider shall be incorporated in~o and shall .~mrnd anJ wpplcment the covenants and agreements of this Mortgage ac if the riJer were a part hereof. 7. Protectioo of Lende~s Securfty. If B~rruwer (adt t~, per(~irm the covenants and agreements contained in this Mortgage, or if any action or ptoceed~ng +s u~mmenced whirh malerially afiect~ Lender's interest in Ihe Propenp, ineluding, but not limrted to, eminent domain. incalvency. c~Klc enf~rrement, ~ir arrarigements or proceedings invol~~ing a bankrupt or decedent. ~hen I~nder at I.enJer's op~ion. u~~n nc~tice ~i~ Borrower, niay make such appe~rances. disburse such sums and take such action as is oecec~ar}• to pro~ect Lender's mtcrect, incluJ~n~. but not lim~ted to, Jisbursement of reasonable attomey's fees and enrry u~n thc Propcrry ~o makc rcpairs. 1( Lcnder rcyuireJ m~~rtgage inwr•rnce ac a condition of making thc loan secure.l bS~ th~a 1lfurt~agc, Bi~rruKCr shall pay Ihr premi~nn~ rcyu~red lo mainiam such insuranee in efTect until such time as ~he reyuirement for sach insurance termin•rte. in accordanc~ with Borrower's and a~i1X c340 Par,t .3~.~j . , . i ~ ~-~-- ~..~~~ = - -t~. ~ ~r - ~ _. * ~~; _