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Home My WebLink About04511 • } ~ _ ~ _ ~ ~~ ~i, ~'~r UNIlORM COVBNANTi. 8orrowu and l.e~der covenant and a~ree as follows: 1.' lqrwea of lA~e1Ni a~i bNerew. 8orrower shall promptiy p~y when due the principal of and interest oo the ~ndebt~dr~eu evidenoed by the Note, prepayment and late cha~gec ac provided in the No1e, and the p~ncipal of and intercst on any Future Advances secured by this Mwtgage. 2. Fwit tor Ta=a a~i l~wn~ce. Subject to applic~hk law or to a written waiver by Lender. BoROwe~ sha1~ WY to Lender on the dsy monthly installments ot principal and ~ntcrcv are paysble under ~he Note, until the Note is paid in tull. a tum (heroin "Fw~dt") equal to o~e-tweltth of the yea~l~ ~a~c~ and assessments which msy attain pnority ove~ this Mort~aje. and ~round rena or~ the Property, if any. plus one-twelfih of yearly prcmium installments for hazard insurance. plus oae-tweltth of yearly premium installmenls (or mortgage insu~ancc, it any, all as rcasa~ably estimated initially aod (rom time t~Yime by Lender o~ the buis at assescmcnls and hills and reasanable eslimates Ihereot. 'I~e Fur~ds shall be held in an institution the deposu~ or accounts of which are insured o~ guaranteed by a Federal or state ajeoey (including Lender if Lender is such an institwionl. I.ender ahall apply Ihe Funds to pay said taxes, assessme~ts. insurance premiums at~d ground rents 1 ender ~iay nat cha~ge tor so halding and applying the F~~ndc. analyzing caid actount. or verityin` and compilina said asseumen~s and bills, unless I_ender pays Borrower interat on the Funds and applicable law permits Lender ta make such a charge. Borrower and l.ender may agree in writir-g at ~he ~ime of execution of this Mortaaae that ~nterat on the Funds shall !+e paid to Botrowe~, aoJ ur.las such agreement is made or applicable law requira such interut to be paid, Lender shall not be rcquired ta pay Borrower any in~erest or earnings on the Funds. l.ender s6a11 aive to Borrower, without charge, an annual accounting of the Funds showing credits aod debits to Ihe Funds and ihe purpose (or which eaeh debit to the Funds wu made. The Funds are pledged as additional ~ecurity for the sums securcd by this Mortpge. ~ . If the amount ot the Fu~ds held by Lender, together wi~h the tuturc monthly instal~meots of Funds payable prior to t6e due data of taxes, assessments, insurance prcmiums and ground rcnts, shall exceed the amount required to pay said taaes. assasments. in:urance premiums and ground rents as ~hey fall due, such exceu shall be, at Borrower's opt~on, e~~her praapUy repaid to Bortower or credited to Borrower on mon~hly installments of Funds. 1[ the amount of the Funds heW by Lender shall not be sufficieat to pay taxa, asscssments, insura~x:e premiums and ground ren~s as they (all due, Borm~rer shall pay to Lender any amou~t necessary to make up ~he deficiency within 30 days trom ~he date notice is mailed ' by Lender to Borrower requesting payment thereof. Upaf payment in full of all sums secured bq this Mortgage, I.ender shall promptly retund to Borrower any Funds hdd by Lender. If under paragr~ph 18 hercof the PropeRyiisoW or the Property ~s othervvise acquircd by l_ender, l.ender s6dl apply. no later than immediately prior to the sale ot the Property o~ it~ acquis~t~on by l.ender, any Funds held bv Leoder at the time of application as a credit against lht wms setured by ,th~s Mortgage. 3. A~plkaNm ot Paya~eats. Unless applicable law p~ovides otherwix. all payments received by Lender under the Note and paragnphs 1 and 2 hercot shall be appl~ed by l.enckr firat in payment of amoupts payable to Le~de~ by Borrower under paragraph 2 hercof, then to mterest payable on the No~e, then to Ihe principal of the Note, and then to intcrest and principal on any Future Advances. 1. C6ar~es; Litas. Borrower chalf pay all t~trti. a~sessments and othcr charges, fines and imposi~ions auribWable to the Property which may attain a pnority over this Mor~gage, and leasehold payments or groun4 rcnts, if any, in the manner provided under paragraph 2 hereot or. ~f not paid in such manner. by Borrower making payment, when due, directly to the payee theroof. Bortower shall promp~ly (urmsh to Lenck~ all notices of amounts duc under this paragraph, and in the event Borrower shall make payment direcUy. Borrower shall promptly furnish to I.enJer rece'ipts evidencmg such payments. Borrowe~ shall promptly discharge any lien which has pniinry over Ih~c Mortgagr, prov~ded, that 8~rrawer shall not be reqwred to discharge any such lien to long as B~~rrower shall agree ~n v-nhng tn ~he payment ot the ob6gatiun ucured by sucA lien m a manner acceptable ro Lender, or shall m good fauh rome.~ sach lien by, or defen.l entorcemrnt of such lien in, legal proceedings which operate to prevent ~he rnfurcement at tht lien or tortenure of the Property or any part thereof. S. Hazard lnsurance. Borrower shall keep the impruvement~ no~ c~~sung cx here:.fter erecied on the Property insured against loss hy fire, hazards included withm thc term "c~tendcJ ruveragc'~, a~d .soch other hazards as Lender may reyuire aud in such amounts and (or such period~ as Lender may reyuire; prov~ded, that Lender shall not requirc that the amount of such coverage exceed ~hat amount of coverage requ~red to pay ~he sumc secured ~by th~s Morlga6e. The msurance carrier providing the insurance shall he chosen by Borrower subject to approval by Lender; provided, that stech approval shall not be unreasonahly withheld. All prem~ums on insurance polic~es shall be Paid ~n the manner prov~ded under paragraph 2 hereo( or, ~f not pa~~1 in such manner, hy B~~rrower mak+ng payment, when due, directly to the ~nsurance carner. All insurance policiet and renewals therrol shall he in form acc~ptable to 1_enJer and shall ~nclude a standard mortgage clause ~n favor ~f and ~n form acceptable to Lender. I.ender shall ha.•e the right to hold the policies and rene~als thereof, and Borrower shall prompdy turmsh ~o Lender all renewal noticec and all receipts of paid premiumc. In the event of loss. Borrower ~hall g~ve prompt noUCC to the insurance carner and I.ender. Lendrr may maAe prcx.t of loss if not made promptly by Borrower. Unless Lender and Borrower otherM~K: aeree in wnt~ng. ~murance proceeJ~ shall be applied to restoration or repair of the Property Jamaged, prov~Jed wch re~torat~on or repair is er~~nomicall}• fe:+s~ble and the ucurity af th~s Mortgage is not ~hereby impaued. If surh restor:~t~~~n or repair is n~~t ccim~~micrlly tcasiblc or ~( the security of ~h~s Mortgage would be impaired. the insurance proceeJs shall be applieJ to the sums secured by this Mortgage, w~th the excess, if anp, pa~d to Borrower If the Property ~s abandoned by Borrower. or it Borrower fa~ls to reti{x~nd to I_ender w~thin 30 days from the Jate not~ce is mailed by l.ender tu Borrowcr that the insurancr carrier utTer~ to tie~tle a claim for insurance txnefits, 1_ender ~s authoriud tu rnllect and apply Ihe insurancc proceeJs at LenJer'~ option ei~her. to restora~ion or rtpa~r ot the Propertv or to the sums xcurcd by this ~lortgagc. Unless Lender and Borrower otherw~.r agree ~n unUng, any such appiication ~~f pnx:ceds ro pnnc~pal shall not extend or postpone the Jue date of thr m~.nthh imtallmcm~ refcrrcd tu irs paragraph. ! and 2 hercof or change the amount ot such installments_ It under paragraph {8 hereo( thc Pruf.er~y is a~ywred hy LerJcr, ali nght, tiUe and interest of Borrower in and to any lr~wrancc policies and in and ro thr pra:ceJs thcreof result~ng trom Jarnage to the Property prior to Ih~ aale or acqwsrtion ~hall pass to Lender to thc eatcnt of thc ,ums ~~~~~e~ ny thiti 1lortgage ~mmediately prior to such sale or acqmsition. 6. Presen~ation aud ~taintenance of Propert~; I.easehulds; ('unduminiums; Planned Unit Developments. Borrow~cr shall keep the Property in good repair and shall not comrpit Kastc or permit impairment or dererioration of the Property and shall compl~ with the proviswns o( any lease it thi~ Mur~g:~ge n~~n a Icasch~~ld. It this Mortgage is on a imit in a condominium or a planned unrt developmcnt, Borrc.wer ~hall ~xr(orm all ot Borrower's obbgat~ons under the decl:+raUun or covenants creating or guvernmg 1he cond~~minium c•r planncd umt development, the by-laws and regulationc of the condominium or planned unit devele~pment. .,nd r~~nstituent d~xumcmti. If a amdominium or planned unit development nJer ~s executed by Borruwer and recorded t.~gether ~ith Ihi~ M~~rtgage. the coven.~nts and agreements of wch nder shall be mcorporated into and shall amend anJ wpplement the co~enant~ anJ agreements of Ihis Mortgage as ~f the nJer were a part Fereof. 7. Proteciion ot Lenders kcurity. It Bi~rr~.wer f:ul. t~~ ~xrt~~rm the co~enantc anJ agreements rontained in th~c Mortgagc, ur i! any acuun ~~r prucccding ~~ ~~~mmrnccJ Hhich matrnall~ .~flrct~ I rnJer'ti intcrctit in ~hc Prapcrty, mcluding. but n~~~ I~m~ted tc-. ~mment dom:un. inti~~l~cnc}. iudr ent~~rcemcnt. ~~r ,~rren~emcMti ~~r pnKCedings ~nvol~ing a bankrupt or Jec~Jent. the~ I.ender at I ender', ~~pU~~n, uprn nulice ti~ Horrower. m~~ m:~kc tiu~h :lppearanceti. ditihurtie wch sums and takc such ~~n~rn ~ti is ncccti~ar~ t~+ pmtccl I.cndcr'~ inlcre~t. ~nclu~luig. bu1 nnt limitcd to, d~~burscmcnt ~~( re.sonable at~omey's (cr~ and entry uM~n the Pmpcit~~ to mal.c rep,ur~ If I.rnder rey~nreJ m~rtgage intiarance ati a cond~~~on ~-( making Ihr I~-an ~c~urc~l bt 1hi~ :11~~r~E.+~c. B„rrr..+cr ~h ~II ~ay thr prcmiumti rcyuireJ t~~ mainta~n ~uch nuurancr ui rlkct unld wch tim~ ati IFk rcyuucmcn~ t~,r wch in;uran:r tcrmm:rtc. in .~r~ordancc w~lh Bnrri~v-cr'~ anJ ~ - ..r~ ..:, ~ - - _~~ -_ ar~~K ~~s ~acE 449 ~ ~ - -_ ~~.~ . .~- -- -