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Home My WebLink About1784r , ~ ~ ~ ~- ~ ~ ._ ::.. UNIFORM CovtN~N7s. Borrower and l_enJcr rovcnan~ and agrre a~ f~~Uows~ 1. h~nneal ot Priaci~al sod laterest. Burruwcr ~hall p-~~mp~ly pay whcn duc Ihc principal o( anJ ~ntcrest un Ihe indebtedoess evidonced by the Note, prepayment and late ch.ugr. a. pruvi~kd in ~he Nole, and the principal o( and interes~ on any Futurc Advanccs securcd by this MorIR~R~ 2. itMnds tor Ta:e~t ~nd lnsuance. Subject to applirah~c law ~~r to a written waiver by l.ender. Borrower shall pay to l.ender on ~hc day monthly i~slallmen~s o( principal anJ imrrr.~ arr payaMc unJer thc Natc, uniil the Note is paid in (ull. a:um (herein "FunJs"- equal Io one-twrl(~h ~~( ~he yrarh ta~r. anJ a~.cti+mentc which may attain pnority ovcr ~hn Mottgsge, and ground rent: on thc Prope~~y, ~f any. plus i~nc-twrl(~h ul ~carly premium ins~allmcnts for hazard insurance. plus one-twelf~h oE yearly prcmium ins~allmenis tor mortgagc ~nsurancc. ~( any, all ac rcau~nably c~~ima~ed initially and trom time to time by I.endcr on thc basi. of a~~cc.~;~cnh anJ h~lh and reawnablr estimatec thercof. The Funds shall he held in an inslitu~u~n ~he de~:~~u~ ~~r accuums ut which are insured or guarant~ed by a Fcderal or state agency (including I.ender it I.ender ~~ such an imUtu~i~nl. 1 ender ~h•rll appl}~ the Fundc to pay said taxes, assessments, insurance premiums and groond rentc 1 ender m.~y n~~t charge t~~t ti~ hnlJing anJ applying the Fnndc. analy'~ing ~aid acc~~unt. or veri(ying and compiling said asse~~nxnt, .inJ h~ll., unlrs+ ~.ender pa~~~ Ri+rrowcr inlerest un the (~unJs and applicable law permits I.ender to make such a charge li~~rruw•cr and I.cnJer may agrre ~n wriling at Ihe time ~d e!eecutiun ot this Mortgage thal interest un Ihe FunJs shall tx p:ud to Borruw•er, and unless ~uch ~grecmcnt ~~ maJc ur applirable law rcquires such interest t~i be paid, I.ender tihall ni~i Ix rcyuired ~~~ ~t~ I~arruw~r am intcrest or carning~ i~n Ihe (=~ind~. 1 cndcr shall give to Borrowe~, without charge, ao annual acc~~unUng o( Ihe I~unds ~howing crrdits anJ dehils t~~ 1he 1'und~ and the purpose (or whKh each debit to the Fundc wa~ m;~dc_ The f~unJ~ arr plcdg~J ac additii~nal srcunt}' G~r thc sumti secured by this Mortgage. ~ I[ the amount o[ the Furtds held hy I.endcr, t~.gc~her ~ith thc iWure monthly inzl:dlnientc af Fund~ pa~•:+btc priur to the due dates of taxes, assessments, insurance prem~ums an~l gmund renh, ~hall cxcced thc amouM reyuirrd to pa~ `aid taties, assessments, insurance premiums and gruu~d rents ati thc~• I.ill dur. ~uch r~cett chail be, :~t Bormwer'a +~pU~~n, cither pranptly repaid to Borrower or craiited ~o t3~.rmwer on monthl~• in.~atlmcnts of F:;~dc. If the amuunt o( thc i•unds held by Lender shall not be sufFicient to pay taxrs, ascessments. incurance prcm~um~ and ground reMs as they fall due, Borrower shali pay to LenJer any amuunt neces~ary t.~ iil"JI~C up ~he dehcienr}• within ~0 days from the date n~~tice i~ mailed by l.ender to Borrower reyucs~ing payn~ent Iheteut. Upon payment m full o( all sums sccured hy th~c Mor~gagc, 1 ender shall promptly re(und to Borrov-•er any FunJs held by l.ender. if under paragraph IR hcrco( ~he Propcny e, ~oW ur thc Propcriy is othcrw•icc acquired by Lcndc~, I.encler shall apply, no later than immediatrl} prior to the ~afe of ~he Property or its arqu~sition hy Lender, any Funda held by Lender at the time of application as a cn~dit agamal the sum~ secured hy lhis f-t~~rtgage. 3. Applicstion of Paymeots. Unlcc~ ap~~licahle la~~ pm~-des othrrvritc, ail paymentc received by Lender under the Note and paragraphs i and 2 here.~t ~h:~ll f~c applirJ h~• 1 Lnd~r fint in paymem ot amuunls pa~•ahle 1~ Lender hy Rurmw~er under paragraph 2 hereo(, then to ~ntrrc~~ payahlc .•n thc tiu~r, then n- thc principal of thc Notc, ancl Ihen ti• interest and principal on an~ Futurc Advanccs. 1. C6a~es; i,iens. Borrower 1I1JII ~~3) all t.~~r~_ ;i~~eicmrnK and ~~thrr rharReti, finec anJ ~niExxitionc attributahle tc~ the Properip w•hich may apain a pnonty avcr ~h~~ M~~~~ga~c, and leaschnld paymcnls i-r ground rents, if any, in the manner pmvided under paragraph 2 herrnf ~r. if n~n p:-~d m wch manncr. M~ B~~rn-w•er making pa}~ment, when due, direclly to the payee the~rot. Borrower shall prompt{y turn~sh tu 1 en~ler all noticrs o( amuunts duc under this paragraph, and in the event Bornower chall make payment direrth. Hurruwer ~hal) prompsiy (urnish ti. t.enJer receipts evidenc~ng such paymeMs. Borcower shall promptl}~ disa:harge any lien ~hirh has pri~rit~• ~~vrr thic M~~rtgagc; providcd, thal Borrower shall not be required to diccharge any such lien tio long az H~~rrawer shall agree in wnUng t~~ ~he payment of the ohligatii~rt secured by such lien ~n a manner acceptable to Lender, ~•r ~hall m gcxki fanh c~~nte~~ surh lien h~~, or defen~ enforcement ot such lien in, legal procced~ngs which operate to prevent Ihe enti~rrement ot thc lirn i~r forfeiti~re of the f'rope~ty~ or any part thereof. S. H~zard Insurance. Rorrow•er shall I.eep thc impr~n•cmcm. n~~~ c~iwng ar herca(tcr cr~cted on Ihe Property insured aga~nst loss h}' fire. hazarJs inrludcd withm the term "c~tendc.l c~~verage", and such other hazards as I.ender may reyuire anJ ~n such amounts and for sucfi pc:riod~ at Lender map reyuirc: pr~~vidcd, Ihat I.enJer shall not reyuire that the amotmt ~f such coverage exc~ed that amount ^f coverage required to ~a~ the wm~ secured ~by this Mortgage. 'il~e ~nsurance carrier providing the insuranre .h~ll he chusen hy B<~rrower s~~t~ject to approva) by I.ender, pro~ided. that such appmval shall not be iinreationahly w•ithheld. Al! prcmium~ an insurame F-olicies shall be paid ~n the manner provided uniier paragraph 2 herc~f or, if not paid in such manner, b~~ B~rrower making payment, when due, directly to the insuranct carrier. ' All insurance ~x~licie. anJ rene~ak there~~t ~hall hc in fcirm :~:crrt.~ble to Lender and ~h:dl ~nclude a ctandard mortgage clause ~n favi~r c-f and in form a.cep~ahle to Lender. Lcnder ~hall ha~e the right to hold the policies and renewalt thereo(. and Borrower shall prompU}• furmsh to 1 e~ider all fClll'N'JI n~~ure~ and all rcceipls of paid premium~. In the event of 1cns. Borrower ~ti:~N ~i~~e prompt nWice ta ~F~c ~nwr.~:ice.arnrr .~e.d I.en~cr. I.ender ma~~ make pnx~f o( toss i[ not made DrompNy by Burr~wer Unless Lender and B~rr~.wer ~~Ihrr~~i~~ agree ~n Nnt~ng, mwrance proceedc shall be applied tc~ re~toration or repair ~t the Property JamageJ, prov~Jed ,~ech rr,t~~ratu~n ~u repa~r i. ec~m~mically (eas~btr and the securiry oi thic Mortgage ic not ~hereb}' impaired 1( surh re;tor.,tum ur repair is iu+t ci~~ni~miralh~ fratiihle or if the xcurity of iha Murtgage w~ulJ be impaired. the ~nsuran~e proceeds chall be ap~liecf to the sums securcd M~ this Mortgage. N~~th the excess, if any, pa~d to Borr.~wer. If the Pmpert~ is aiiand~ncd h~ Burrower. ~~r ~t Borr~w•cr fa~lti to res~nd to I.cnder within 30 days (rom the date not~ce i~ mailed bv Lender t~. Borrouer that the ~nsurar~ce ~arrier ulien to tieule a claim for insurance benefits, 1_ender is authorized tn collect anJ appi~ the ~nwran~e p~~~ceeJs at I.endrr'~ opt~un either ta resturation or repair of the Pro~rt~• or to thc sum~ ~c:ured b~ th~. ~lorigagc. lJnlest I.endcr and Aorruwer othcrwi.r .~grcc ~n w•riung, am such appliration of prckeeds lo principa) shall not extend or postpone the .iue ciate uf the mrnthl: in,~altmrm~ referreJ t~~ in paragraph. ! and 2 herrnf or change Ihe amount of such installnxnts. If un~ier paragraph I S hereo( the Pr~~pert~ ~~ acqwrr~; h~ Lendcr, ali nght, Utle and interest of Bormwer in and to am• ~nsurance pol~c~es and in and to the pnxee~s thcreu( resulung trum damage to the Property prior to th~ sale or acqu~s~UOn shall pass to i.en~er lr the ea!cnt u( the ~um~ .c.:urc~f h~ thn ~lortgage immediately priot to such ;ate or acquisition. 6. Presen~ation aad ~laiotinance of Properly- l.easeholds; ('ondominiums: Planned Unit Ikvelopments. Ror:owcr shall Iceep the Property in good repair and shall not comrpit w~aste c.r pe~mit impairment or deterioration of the Property and shall comply with ihe provis~ons of any lease ~t th~. M~~rtg.~gr i. un a Icasch~dd. If this Mortgage is on a umt in a condomimum or a planned unit deti•elopment. Borrawer ~hal! perf~~rm all of Borrower's obhga~ic-ns under the declarat~c~n or cbvenants creaUng or governing the rnnduminium e~r planncd ~m~t devel~~pment, the by-laws and regulationa of the condomimum or planned unit Je~•elupment. and a~nstituent ~ixument~. I( a cunJominium or planned unrt development rider ~s executed by Borrower and rerorJed tugether H~th thi~ Mortgage, the covenantti anJ agreements o( tuch rider shall be mcorporated into anJ shall amend and ~upptcment the cuvenan~~ and agreements ~f Ihic Mortgage as it the nJer were a part hereof. 7. Protectioa of I.ender's Security. If Borrower (:~il~ tn perf~~rm the covenants anJ agr_ements cuntainzd m this Mortgage, or if any action ur prckeed~ng is commen~_e~l whsrh materially affects I.ender's mlerest in the Properiy, including. but not limrted to, em~nent domain. inH~hency, cc~cle en(~~rcement, or arrangement~ or proceedings ~nvohing a banlcrypt or decedent, then Lender at I.ender's ~~ptiun, u~~n nntice t~~ Rorrower, ma~ make such appearances, disburse such sums and take sueh action as is nece~sar}~ e~.i protect Lcnder's interect, includ~ng. but not limned to, dicbursement o( reasonable atlomey's fees and entry upon the Properly to make rcpair~. I( Lrnder rey~~ired rTMortgage in~urance a~ a condition of~making thc loan sccurcd by this 1!l.~rtg:~~c. R~.rn.wrr shall pay ~hc prcmiiimti requircJ to mainta~n such insuranee in et~ect until such time as ~he rcyuirement f~~r wch :nsurance term~nate~ m accordancP with Borrower's anJ . ~ . ~: ~ ~ ~ ~~'~3~9 P~vE1784 ~