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Home My WebLink About2904' ~~~~'. ~. ;~t<il~? UNIFORM COVEtvANTS. Borrower and Lende~ covenant a~d agree as follows. 1. P~ymsnt of Ptlnclpal and Int~nst. Borrower shail p~omplly pay when due the pnnc~pal ot and ~nterest on the ~ndebtedness ev~denced by the Note, prepayment and late charges as prov~decl ~n the Note, and lhe pnnc~pal ot and mteies~ on any Future Advances secured by this Mortaage. 2. Funds forTsx~s and Insuanc~. Sub~ect to applicable law or to a wntten wa~ver by Lender, 6or~ower shall pay to Lende~ on the day monthly installments ot pnnCipal and interest are pay8ble under lhe Note, until the Note ~s paid in full, a sum ~here~n ~~Funds") equai to one-twetlth ol the yearly taxes and assessments wh~ch may atta~n pnor~ty over th~s Morigage. and ground renls on the Property, if any, plus one-twellth of yeerly prem~um installments fo- hatard insurar.ce. pfus one-twelith ot yearly premium inslallmenls for mortgage insuranCe, if any, all as reasaonablyeslimated ~nitially and trom t~me to time by Lender on the basis ot assessments and bills and reasonable estimales thereot. The Funds shall be held in an mst~tut~o~ the depos~ts or accounts of wh~ch are ~nsured or guaranteed by a Federai or sta~e agency(~nclud~ng Ler~der ~! Lender ~s such an ~nst~tut~on). Lender shall 3pply the Funds to pay sa~d taxes, assessments ~nsurance premiums and ground rents. Lender may not charge (or so holding and apply~ng the Funds, analyz~ng said account or ver~'ry~ng and compil~ng sa~d assessments and bills, untess Lender pays Borrower ~nterest on the Fun~s and appl~cable iaw , ~~erm~ts lender to make such a charge. Bonower and Lender may agree in wnUng at the Ume o~ execuUOn ot th~s Mortgage that ~nterest on 1he Funds shatl be paid to Borrower, and unless such agreemenl is made or appl~cable iaw requ~res such ~nterest to be pa~d. Lender shall not be reqwred to pay Borrower any ~ntere;t or earrnngs on the Funds. Lender sna~i g~ve to Borrowe-. w~thout charge. an annual account~ng of the Funds show~ng cred~ts and deb~ts to the Funds and the purpose tor wh~ch each ~eb~t to the Funds was made The Funds are pledged as add~t~onal secur~ty to: the sums secu~ed c~~ m~s Mortgage If the amount ot Ihe Funds helil by Lender. together w~th ihe tuture monthly ~nstaltments ot Funds payable pnor to !he due dates ot taxes, assessments. ~nsurance prem~ums and ground ~ents. sha11 exceed the amount reqwred to pay sa~d taxes. assessments. ~nsurance prem~ums and ground rents as they fall due. such excess shal! be. at Borrower's opl~on. e~ther ~;romptly repa~d to Borrowet or cred~ted to Borrower on monthly ~nstallments of Funds If the amount of the Funds ne~d by Lender shall not be sultic~ent to pay taxes. assessmenis. msurance prem~ums and ground rents as they tatl due. Borro~ver shal! pay to Lender any amount nece5sary to make up the detic~ency w~th~n 30 days trom the date not~ce ~s ma~led ati- Lender to Borrower requesUng payment tliereof. ' Upon payment in fuil of all sums secured by th~s Moctgage. Lender shall prompt~y relund to Borrower any Funds r,eicy t~y ~ender It under paragraph 18 hereof 1hc~Property ~s sotd or ihe Property ~s otherw~se acqu~red by Lender. Lender _ shaii appiy. no later .than jmmed~ately pnor to thg saie af,the Property or ~ts acqwsit~vn by Lender. any Funds hetd by Lender at the hme ot appticat~on as a cred~t against Ihe sums secured by th~s Mortgage. 3. Application ot Payments. Uniess apphcabie ~aw prov~des othenv+se. all paymer,ts rece~ved by Lende~ under the tJote and paragraphs ~ and 2 hereof shatl be appl~ed by Lender f~rst ~n payment of amounts payabie to Lender by gor~ower ~.~cier oaragraph 2 hereof. then to ~nteres: payabte on th~ Note. then to the pnnc~pa~ ot the Note and then to ~nterest and ~,nnc~pal on any Future Advances. 4. Charges; Liens. Borrower shall pay ail taxes. assessments and other charges. f~nes and ~mpos~t~ons attr~b~table to ~~e Property wh~ch may attain a pnonty over Ih~s Mortgage, and leasehold payments or gound rents. ~f any. ~n Ihe manner prowded u'nder paragraph 2 hereof dr il not aa~d In~§J~h m~nner. by Bo.-rower mak~ng payment. whe~ due. duectly to the payee thereof Borrowei shatl promptty furrnsh to Lender all.not~ces of amounts due under th~s paragraph. and ~n the event Borrower snali make payment di-ectly. Bo-rower shali prom~ltFy fum~sh to Lender rece~pts ev~denc~ng such payments Bor~ower shali promptly d'ischarge any I~en whuch has prior~ty over.th~s Mor.tgage: prov~ded. that Borrower shalt not be requ~red to d~scharge any such lien so t~ng as Bortbwer shalf a~ree in w~~t~ng to the payment of the obl~gation secured by s~ch I~en ~n a manner acceptable to Lender. or shall ~n good fa~th contest such I~en by. or defend enforcement of such I~en ~n. ~egai proceed~ngs wh~ch opera(e to prevent the enforcement of the I~en or forte~ture ot the Property or any part thereof 5. Hazard Insurance. Borrower shall keep the ~mprovements now ex~stmg or hereafter erected on the Property msured aga~nst loss by f~re, hazards ~ncluded w~th~n the term ~~extended coverage". and such other hazards as Lender may requ~re and ~n such ambunts and tor such per~ods as Lender -equ~re. prov~ded. that Lender shall not requ~re that the amou~t ot such coverage exceed ihat amount ot coverage requ~red to pay the sum secured by this Mongage The ~nsurance carner p-ov~dmg the ~nsurance shaU be chosen by 8o~rower sub~ect to approva+ by Lender: pro'v~ded. ;r.a! sucn approval shatl not be unreasonably w~thheld. AI! prem~ums an ~nsurance pol~c~es sha~l be pa~d ~n the manner provided under para~raph 2 hereof or, if not pa~d m such manne- by Borrower mak~ng payment. when due. directly to the ~nsurance carr~er All ~nsurancs pol~c~es and renewa~s thereoi shall be +n torm acceptable to Lender and shaii ~nc(ude a standard mortgage ,:lause ~n tavor of and ~n tOrm aCCepteblg t0 lender. Lend@r Shatl have the nght to hOld !he pO~iCieS end renewats therg0l. and Borrower shall promptfy turmsh to Lender a~l renewal noUces and alI rece~pts of pa~d premwms. In ihe event of loss Borrower shatf g~ve prompt notice to the insurance carner and Lender. Lender may make proot ot loss ~t not made-promptly by Borro+ver Uniess Lender and Borrower otherw~se agree ~n wr~tmg, msurance proceeds shall b~ appl~ed to restoraUOn or reFau of the Property damaged. prowded such restorat~on or repa~~ ~s econom~cauy tees~ble and the secur~ty of th~s Mortgage ~s ~ not the!eby ~mpa~red. If such restorat~on or repa~r ,s not econom~cally feas~bie or ~t the secunty ot th~s Mortgage wo~ld be ~mpa:red. the ~nsurance ~,roceeds shall be appi~ed to the sums secured by th~s Mortc~aqe. w~th the excess. ~f any. pa~d ~o Borrower. It the ProK,erty ~s abandoned by Borrower. or ~f Borrower ta~ls to respond to Lender w~th~n 30 days from the date nohce ~s ma~led Dy lender to Borrower that the msu~ance carner offers to settfe a c~a~m tor ~nsurance benef~ts. Lender s a~!honzed to collect and apply the ~nsu-ance proceeds at Lender s opUOn e~ther b rest6-anon or repa~r of the Prooerry o+ to the sums securetl by this Mortgage. . ~ Unless Lender and Borrower-othen+~~se agree ~n wr~t~ng. any such appl~cat~on ol proceeds to pnnc~pal shati not extend ,;r pcslpor,e the due date of the monthly mstallments referred to ~n paragraphs ~ and 2 hereot or cnange the amount o~ sucr. ~nstallments If under paragraph 18 hereof ihe P+operty ~s acqu~red by Lender ai~ r~ght. t~tle and ~nterest of Bo-rower ~r and to any msurance pohaes ann ~n a~d to the proceeds thereof resuii~ng from damage to the Property pnor to the safe or acqu~s~hon shaU pass to Lender to the extent of the sums securec] hy th~s Mortgage ~mmed~ately pr~or to such sale or acc;u~s~hon ~ 6. Preservation and Maintenance of Property; Leaseholdac; Condominiums; Planned Unit Developments. p t~•tQy~lf•! shall keep the Property ~n good ~epa~r and shau not comm~t wasfe or perm~t ~mpa~rment or deteno+aUOn o1 the Pro- ~;erty and shal~ comply w~th the p,ows~ons of any (ease d th~s I~Ao-tgage ~s on a ~easehofd It th~s Moitgage ~s on a ur.rt m a -_r,ncfom~n~um or a planned urnt developmeM. Borrower shali pe~form all ot E3orrower s obhgat~ons under the declarahon ~:* ~cvenants creabng or governing !he condom~rnum or ptanned urnt development the by-laws and regu~at~ons ot the .-. ;n•,~om:n~um or planned urnt development. and const~tuent documents It a condominwm or planned unR developmeni t;~ie- ~s executed by Borrower and recorded Fogether with this Mortyage the Covenanls and agreements ot such r~de~ s~ai~ he ~ncorporated ~nto anci shalt amend and supplement the covenants and agreemerns of th~s Mortgaye as ~t the r~dPr ~r~e~~ a part hereot 7. Protection of Lende~'s Security. If Borrower fa~ls to pertorm ihe covenants and ag~eements conta~ned ~n th,s ~,~ ,•t~~age or ~f any achon or p+oceed~ng ~s •commenced wh~ch materially atfects Lenders ~merest m the Property ~. :~~ f~^g hut not ~;mited to. eminent domain. ~nsolvency. code enforcement. or arrangements or proceed~ngs ~nvolving a r:~~~~ r~,pt or ~iecedenl then LPnder at Lender s opt~on. upon noUCe to Borrower. may make such appearances. d~sburse such ~:,^ = an~t ,ake such achon as~~s necessary to protect Lender's mterest, inciud~ng. but not I~m~ted to. d~sbursements ot •:•~< ,~,a;,~~ attomey s tees anci entry upon the Property to make repa~rS. It Lender requ~red mortgage ~nsu-ance as a •;;: ;^ ~,r mak~ny the toan secured by th~s Mortgage. Borrower shalf pay the prem~ums requ~red to ma~nta~n such ~,~.-.~n ,c~ ~n effect unt~l sur.h hme as the requ~rement tor such msurance terminates ~n accordance with Rorrower s and .~ r~ .~ t . R~346 P,~ „ -. ~ _~.~.~-- _ _ . . __. . - _ . ,:~