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Home My WebLink About0470~. , .i( : _ . , ~~~ `1t Ut+tro~ CoveH~c~+rs. Borrower and l.snder covenaot and ss~a u follows: 1. !~t ot hMdMl a~i iNered. Borrowe~ shall promptl~• pay when due the p~incipal of and interat on the i~btednett evidenoed by the Note. prepaytnent and late chargec ac p~ovided in ~he Note, aod the pri~cipal ot and intercs~ on aoy Future Advaoces secured by this Mortaaae. 2. Ftia~i ter Ta:a a~i I~n~cs. Subjat to applicabk law ar ta a written waive~ by I.endet. BoRawer shall pay to I.ender o~ Ihe day monthly installments of principal and intcrcct arr paysble under the Note, until the Note is paid in full, a sum (hercin "Fundt") equsl to one-tweltth of the yea~ly ta~c. and assessments which may attain priority ove~ this Mo~aje. and ~round rents on tba Pwperty, if any. plus one-twelt~h of yea~ly prcmium insullments for huard insurance. plus oue-twelfth of yearly prcmium ins~allmen~s tor mortgage insi~rancc, it any, all as rcuonably estimated initially and tmm time to time by Lender on the buis of asxscmcnts and hills and reasonable estimata thereof. 7~e Funds shall be held in an institution ~he depaits or accounts of which are insurcd or guaranteed by a Federal oi state a~eocy (including Ler~der if Lender is such an ins~itutionl. I.ender shall apply ~he Funds to pay said uxa. asxume~ts. insuranoe prcmiums and gtound rents 1 ender may na~ charge lor so holding and applying the F~mdc. analyzing caid account. or vorityin~ aod compiling uid assessments and Aitls, unlcss I.ender p~ys Borrower interat on the Funds and applicable law petmits Lender to make such a charge. Borrower and Lender may a~rce in writing at ~he time of exxution ot this Mortsaae ihat iMetat o~ the Funds shall be paid to Borrower, and unless such agreeme~t is made or applicable law requira such interat to be paid. Lender shall ~at be rcquired to pay Bo~~ower any interat or earnings on the Funds. Lender shal! ~ive to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and ihe purpose !or which each debit io the Funds was made. The Funds are pledged as additional security -tor the sums securcd by this Mortaage. . If the amou~t o[ the Funds held by I.ender, together with the futuro monthly installments of Funds payable prior to ttie due dates of taxa, assessmtnts. insurance prcmiums and ground rcnts, shall exceed the amount required to p~y said taxes, aueu~nents, insurance premiums and ground rcnts as ~hey (all due, such excess shall be. at Borrower s option, either praaptly repaid to Bocrower or credi~ed to Borrower on mon~hly insialtments of Funds. If the amount of the Fundi hdd by Leoder shall not be sul6cient to pay taxa. assessments, insunnce prtmiums and ground rents u they fall due. Bortuwer shall pay to Lender a~y amount naessary to make up the deficiency within 30 days from the date notice is mailed by l.ender to Borrower requating payment Iheroof. L)non payment in full of all sums securcd by this Mor~gage. l.ender shall promptly refund to Borrower any Funds held by Lender. If under pusgraph 18 hercof Ihe PropeAy i~ sold or the Property ~s otherwise acquircd by Lender, l.ender s6all arply. no later than immeaiately prior to the sale of the Property or its acquisition by I_ender, any Funds held bv Lender at the time of application as a credit against thc sums secured by this Mortgage. 3. A~IicNbe ot Payments. Unless applicable law provida otherwise, all payments received by Lender under the Note and pangraphs 1 and 2 htrcof shall be applied by I.ender first in payment of amounts payable to Lend~r by Borrower under pariaraph 2 hereof. then to interest payable on the No~e, then to the prii~c:~al of the Note, and then to interest and principal on any Future Advances. 1. C6u=es; Lkas. 13orrower shall pay all lraec, assescments and aher charges. 6nes and ~mpositions attributable to the Properiy which may attain a pnority over this Mortgage, and leuehold payments or grour-d rcnts, i[ any, in the manner pr+nvided under paragraph 2 hereof or. if not pa~d ~n such manner, by Borrower making payment, when due, dircctly to the pa}roe thereof. Borrower shall promptly furn~sh to Lender all not~ces of amounts due under this paragraph, aad in the event Borrower shall make payment directly, Borrower shall promPtly (urnish to l.ender receipts evidencing such payments. Borrower shall promptly dixharge any lien which has pnordy over thic Mongage; provided, that Borrower shall not be rcqwred to discharge any such lien so long as Borrower shall agree in w nung t~~ the payment of the obligatiun secured by such lien in a manner acceptable to 1_ender, or shall m ga~d faith contetit tuch lien by, or defenJ enforcement of such lien in, legai proceed~ngs which operate to prevent'the enfurcement of the I~en or torfe~wre o( the Property or any part thereof. 5. Hwrd Insuraece. Borrower shall keep the improvcment~ now eYisUng ur hercafter erected on the Property insured against loss by fire, hazatds included withm the rerm "cxtcnded coverage". a~d such o~her hazards as Lender may require wd in such amounts and for such periods ac I_ender may reyuire; provided, that LenJer shall not •require that the amount qt such covenge exceed that amount of coverage requ~red to pay ~he ~ums secured ~by th~s Mort~age. The msurance carrier providing the insur:~nce shall be chosen by Borrower subject to approval by Lender; provided. that such approval shall not be unreasonahly withheld. All premiumc on insurance policies shall be paid in ti~e manner provided under parag~aph 2 hereof or, ~f not paid in such manner, bv B~rrower makmg payment, w6en due, directly to tht insurance carrier. Al) insurance ~wliciet and renewals therrof shall he in form acceptable t~ Lender ~nd shall ~nclude a standard mortgagt rlause in favor o( and in form acceptable ~o Lender. l.ender shall have the right to hold the policies and renewals theteof, and Borrower shall promptly turnish to Lender all renewal not~ces and all receipts of paid premiums. (n 1he event of loss, Borrower shall g~ve prompi nouce ta Ihe ~nwra~ce carner and Lender. I_endrr may make pra~f ot loss if not made prompdy by Borrower. Unless Lende~ and Borrov-•er otherv-iuu agrec ~n ~nhog, in+urance prckecJc shall be applied to restoration or repair of the Property damaged, proviJed wch re+tora~wn or rrp~~r is ec~~nomically (easible and the ucuriry of this Mortgage is not thereby impaired. I( such restoratu~n or repair is n~~t econom~call~• feasiblc or i( the secunty of this Mortgage would be impaired. the insurance proceeds shall be applied to the sums secured by this Mortgage. w~th ~he execu, if any, paid to Borrower If the Property n abanJoneJ b} Borrower, or ~t Bo~rower (a~ls tn res~nd to 1_ender within 30 days from the date nouce ~s mailed by~ Lender to Borrower that ~he msurance rarrier otfen to ceulc a claim for insurance benefits, Lender is authorized to collect and •rpply the inwrance prcx;eeds at I_ender's op~ion.either tv restora~~on or repaer ot the Propett~~, or to the sum~ ~ecured by this Morigage. Unless Lcnder and Borrower otherv~isc agrcc m wntsng, anp such rpplica~ion ~~f pruceeds to pnncipal shall not e:tend or postpone Ihe due date of the mcmthh~ imtallmenlt referred tc. in paragraph. I anJ 2 hereo( or change the amount ot such installmeats. If under paragraph 18 hereof thc ProE.ert} n acywred b~ l.endcr, ali nght, title and interest of Borrower in and to an~ Insuran.e policies and in and to the proceeds thereut resulnng from Jamage to the Property prior to thc sale or acqwsiUon shall pass to Lender to thc eatent of thc sums xcured by ~hu Mertgage immediately prior ~o such sale or acquisition. 6. Presen•alion and 1laiotenance of PropeA~: Leaseholds; ('ondominiums; Planned Unit Developments. Borrov-cr shall keep thc Propert}~ in good repair and shall not com~pit yvaste or permh impa~rment or deteriora~~on of the Property ~ and shall comply with the provisions o( any lease i( ~hi~ Mortgagc i~ on :~ Ieascb~~ld. If this Mortgage is on a unit in a condomin~um or a planned umt devrlopmcnt. Borrowcr ~hall pcrlarm all of Borrowers obl~gaUons under the declaratwn or covenants creahng or govermng ~he cond~~minium or planned umt devclapment, the by-laws and regu{ationc of the conJominium or planned unit develo~~ment, and constituent Jixument~. I( a condominium or planned umt devclopment rider is executed by Eiorrow•er and recorded a~gether w~th ~h~. M~rtgage. ~he covenants and agreements of cuch rider shall be incorporated ~nto and shall amend anJ supplcmcm thc co~cnan~t anJ agreements af th~s Mortgage as i( the nJcr wett a pert Fereof. 7. Proteclion ot Lenders Security. I( N~~rr~•wer f.~d. a~ ~xrl~~rm the crn•enants and agreements cuntained io th~c Mor~gage, or if any action ~~r proceeJ~ng ~~ c~~mmrnreJ whicn flidfCflBII)' .dTrctc I.e~Jer'ti mtere~t in the Propert~•, includmg. but nut hmrted to. em~nent domam. ina~l~enc}. uKle enf~~riemrnt. ~~r arranKrmrms or pmceedings invc~hmg a bankrupt or decrdent. then I.ender at I ender'~ opt~on, u~x~n not~ce tii Rorn~w•er, ma~ make such appearances, Ji~bune such sums and take sucb actiun a~ is nece~tiar} t~- pmtect (.ender'~ mtere~l, mclu~ling. but not limited to. d~~bursement of reasonable a~torncy'~ fceti and enrry uM~n ~hc Pr~~pcrty to ma{,c rrpnir~. It I.cndc~ rcyi~irrd murtgage in~urance as a condrtion ~r( making Ihc Ipan .ccureJ b} thu :1luttgair. H~~rrr.acr sh.~ll pa}~ Ihc prcmwm~ rcqwrcJ t~ mai~~ta~n wch . insurance in rl(cct untd such Umc ati thc rcyuiremcnt for ~urh imuran;r tcrminatr~ in ac:ordancc wqh Borrowcr'ti and ~ ~ ~3~s ~~E ~sg . , ~ _ _ ~ _ ~ ~~~t~: