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Home My WebLink About0211~slz~ ~z:~ UNIFORM COVENANTS Borrower and Lender covenant and agree as iollows. t. Paym~nt of PN~cipal and Int~nst. Borrower shall promptly pay wnen due ~he pr~nc~pai ol and ~me~est on ihe mdebtedness ewdenced by Ihe Note, prepayment and iate charges as prov~ded ~n Ihe Note, and the p~~nc~pal of and ~nterest on any Future Advances secured by th~s Morlgage. ~. Funds fo~Tax~s snd Insurane~. Sub~ect to appl~cabte taw or to a wntten wa~ver by Lender, Bonower shall pay to Lender on the day monthly ~nslalimenls of pnncipal and interesl are payable under the Note, until Ihe Note is pa~d ~n lull, a sum (here~n ~~Funds"1 equal to one-twelfth ol the yearly taxe5 and assessments wh~ch mav atta~n ~r~or~tv over th~s Mo:tgage, an~ ground rents on the Properry, ft any, plus one-twelith ot yearly prem~um ~nstallments lor hazard ~nsurance. plus onetwelfth ot yearly prem~um ~nstattments for mortgage ~nsurance, ~I any, all as reasaonablyest~maled ~niUally and irom t~me to lime by Lender on the basis of assessments and bills and reasonable estimates thereol. The Funds shall be held in an ~nstitut~on the deposits or accounts of which are insured or guaranteed by a Federai or state agency~mcluding Lender It Lender ~s such an inslitut~on). ~ender sha11 apply the Funds to pay said taxes, assessments. ~nsurance premiums and ground rents. Lender may no1 charge for so holding and app~y~ng the Funds, anaiyzing sa~d account. or ver~fy~ng and comp~l~ng sa~d assessments and b~lls. untess Le~der pays 8orrower ~nlerest on the Funds and appl~cable iaw perm~ts Lender to make such a cha-ge. Borrower and Lender may agree m writing at the lime ot exeCUlion of th~s Mortgage that ~nterest on the Funds shall be pa~d to Borrower, and unless such agreement ~s made or appt~cable taw requ;res such :n,crest ta b~ pa~d, Len~er sha~i not be r~quired to pay S~rrowerany ~nterest or eam~n Js on the Funds. Leniler sha!I g~ve to 8orrower. w~lhout charge, an annual account~ng of the Funds showmg cred~ts and deb~ts to the Funds and the purpose for wh~ch each deb~t to the Funds was made. The Funds are pledged as add~t~onal secunty tor the sums secured by th~s Mortgage. It the amount o! the Funds hetd by Lender, together w:lh Ihe fulure monthly ~nslaltments ot Funds payable pr~or to lhe due dates ot taxes. assessments. ~nsu-ance prem~ums and ground rents. shall exceed the amount reqwied to ~ay sa~d taxes. assessments. ~nsurance premlums and ground rents as they talt due, such excess shall be. at Borrower's opt~on, e~ther promptly repa~d to Bo~rower or cred~ted to Borrower on monthly mslallments of Funds If the amount ol Ihe Funds held by Lende~ sha11 not be suft~c~ent to pay taxes, assessmPnts, msurance prem~ums and ground rents as they tall due. Borrower shali pay to Lender any amount n~cessary to make up the def~c~ency w~thm 30 days from the date not~ce ~s ma~led by Lender to Borrower requesUng paymenl thereof. Upon payment m full ol all sum~ secured by th~s Mortgage. Lender shall prompuy retund ~o Borrower any Funds held by Lender. 11 undei paragraph 18 hereot ihe Property is sold or the Property ~s othen+~~se acqu~red by Lender, Lender shall apply, no iater than ~mmed~ately pr~or to ihe sa~e o! lhe Property or its acqws~t~on by Lender, any Funds he~d by lender at the t~me of appl;cat~on as a cred~t aga~nst the sums secured by th~s Martgage 3. Application of Payments. Unless appi~cabie iaw prowdes otherw~se. al1 payments rece~ved by Lender under the Note and paragraphs 1 and 2 hereot shall be appl~ed by Lender t~rst ~n payment o( amounts payabie to Lender by Borrower under parag~aph 2 hereof. then to ~nterest payable on the Note. then to the pr~nc~pal o~ the Note. and then to ~nterest and pr~nc~pal on any Future Advances 4: Charyes; ~iens. Borrower shall pay ai~ toxes assessments and other charges. f~nes and ~mpos~t~ons attnbutable to the Property wh~ch rnay atta~n a pr~or~ty ove~ th~s Mortgage. and ieasehotd payments o- gound -ents. ~f any, m the manner prov~ded under paragraph 2,hereot or. ~f not pa~d in such manner. by Borrower mak~ng payment. when due. d~rectty to the payee thereot. Borrower shall promptly furn~sh to Lender all noUCes ot amounts due unq~r th~s paragraph, and ~n the event Borrower shall make payment directly. Borrower shali prompt~y turn~sh to Lendcr rece~pts ev~denc~ng such payments 8orrower shall prompdy d~scharqe any lien which has o-io.ritv over th~s Mortaaoe. nrov~ded that Bor!ower shall not hP requ~red to disctiarge any such t~en so Iong as Borrowe-;ha~t agree ~n wr~t~ng to the payment o( tlie obl~gat~on secured by such I~en ~n a manner acceptable to Lender or shali ~n good fa~th contest such I~en by. or defe~d enforcement of such I~en ~n. legal ~roceed~ngs wh~ch operate to prevent the enforcement of the hen or lorte~lure of the Prope-ty or any part thereot. 5. Hazard Insurance. Borrower shali keep the ~mprovements now ex~sbng or herealter erected on the Propeny msured aga~nst loss by f~re, hazards ~ncluded w~thm the term'~extended cove-age', and such other hazards as Lender may requ~-e and m such amouRts and for such per~ods as Lender reqwre. provided. lhat Lender shall not requ~re that the amount ot such coverage exceed that amount ot coverage reqwred to pay the sum secured by th~s Mortgage. The ~nsurance carner prav~d~ng the msurance shall be chosen by Borrower sub~ect lo approval by lender; prowded. that such approvai shalt not be un-easonabiy w~thheld. Alt prem~ums on ~nsurance pol~cies shall be pa~d ~n the manner prov~ded under para~raph 2 hereof or. ~t not pa~cf ~r such n~anner. by Bo~rower mak~ng payment. when due. d~rectly to the msurance carr+er AII msurance pol~c~es and ~enev:als thereof shai~ be m form acceptab-e ro Lender ana shall ~nclude a standard mortgage clause ~n favor of and ~n form acceplable to Lender Lender sha~l have the nght to hoid the poliaes and renewals thereot. and Borrower shall prompily furn~sh to Lender all renewal not~ces and all re~e~pts of pa~d prem~ums. In the event ~t loss. Borrower shall g~ve prompt not~ce to Ihe ~nsurance carr~er and Lender Lender may make proo! ol loss ~t not made-prornptly by Borrower. Untess Lerder and Borrower otherw~se agree ~n wr~ung. ~nsurance proceeds shaii be appt~ed to restorat~on or repa~r of the Propertydamaged. prov~ded such restorai~an or repau ~s econom~caliy feas;ble and the secu-~ty of th~s Mortgage ~s not thereby ~mpa~red. If such restorat~on or repa~r ~s not econom~cally feas~bie or ~t the secur~ty ot th~s Mortgage wouid be ~mpa~red, the msurance proceeds shail be appi~ed to the sums secured by th~s Mortgage, w~th the ezcess. ~f any, pa~d to Borrower. If the Property is abandoned by Borrower. or ~f Borrower taits to respond to Lender within 30 days trom the date not~ce ~s ma~led by Lender to Borrower that the ~nsurance carr~e! otfers tc settle a cta~m (or ~nsurance be~~ef~ts. LEnder ~s author~zed to collect and apply the ~nsurance proceeds at Lender's opt~on e~ther to restorat~on or repa~r ot the Property or to the sums secured by th~s Mortgage. Untess lender and Borrower otherw~se agree ~n wnt~ng. any such appi~cat~on ol proceeds to pnnc~pat shall not extend or postpone the due date of the monthty ~nsialiments referred to ~n paragraphs t and 2 hereof or change the amount ot such mstaliments If under paragraph 18 hereot the Property ~s acqwred by Lender ali nght. t~1ie and mterest of Borrower ~n and to any ~nsurance pol~c~es and ~n and to the proceeds !hereot resuitmg from damage to the Property pr~or to the saie or acqws~t~on shall pass to Lender to the extent of the sums secured by th~s Mortgage ~mmed~ately pnor to such saie or acqwsdion. , 8. Preservstion and Maintenance of Property; Lesseholds; Condominium~; Plsnned Unit Developme~ts. Borrower shall keep the Property m good repa~r and shalt not commit waste or perm~t ~mpa~rment or detenorat~on ot the Pro- perty and shall cemply w~th the prov~s~ons of any lease ~t th~s Mo~tgage ~s on a teasehold if th~s Mortgage ~s on a un~t ~n a condom~n~um or a~,~anned un~t developmer.t. Borrower shall perform all ot Borrower's obl~gat~ons under the decla~at~on o- covenants creat~ng or govern~ng the condomm~um or pianned umt development. the by-!aws and regulat~ons ot the condom~mum or planned un~t develc,pment. and Const~tuenl documents. It a tondom~n~um or planned un~t devetopment r~der ~s executed by Borrower and recorded together -v~th th~s Mortgage. the covenarts and agreements ot such nder shall be ~ncorporaled ~nto and shall amend and supp~ement ihe covenants and agreements of th~s Mortgage as ~f tne r~der were a part hereof 7. Protection of Lenders Secu~ity. If Borrower fa~ls to perlorm the covenants and agreements conta~ned ~n th~s Mortgage. or ~t any act~on or proceed~ng ~s commenced wh~ch matenatly affects Lenders interest m the Property ~nclud~ng, bul not lir„~ted to, em~nent domatn. ~nsoivency. code entorcement, or ar~angements or proceed~ngs ~nvolv~ng a bankrupt or decedent. then Lsnder at Lenders opt~on, upon not~ce to Borrower, may make such appearances, d~sburse such sums and take such act~on as is necessary to protect lenders interest, mctud~ng, but not limited to, disbursements ot reasonable attorneys lees and entry upon the Property to make repairs. If Lender requ~red mortgage ~nsurance as a ~ond~t~on of mak~ng the ~oan secured by th~s Mortgage. Borrower shall pay the prem~ums requ~red to mamta~n such msur~nce m effect unt~l such time as Ihe reqwreme~t for such ~nsurance term~nates ~n accordance w~th Borrowe~s and ~3 j ~~~~~t~ z • ~ 3 ~ ' . .. r~~.~~?.r~~~ .rn:~,-r`x;~ _. . - B!l~'!( ~ ''~349 ~ M~f 211 ~ '= ~ ~~~~ ~~