The URL can be used to link to this page

Home My WebLink About1746 UNIPOIIM COYEHANT3. 8ornower u~d Lende- cove~ant and sjree u follow:: ~ 1. t~we~t W hioc~l a~i lNenst. Bormwer shall promptl~• pay when due the priecipal ot and interest oo the ~nckbtedne:s evidtnced by tGe Note. prepayment and late chargcc ac provided in the Nwe, and the principal ot and interest o~ aay Future Advances secured by this Mongage. ~. FWi tor Ta~ta aai Iaw~ce. Subject to applicable law ur to a writ~en wsiver by Lender, Borrawer shail pay to Le~tde~ on the day monthly insullme~ts of principal and intcrcct rrr payahle uoder the Note, until the Note is paid in tull. a sum (hercin "Fund=") equal to orye-twelfth of the yea~l~ u~c. aoJ assessments which may attai~ priority over this Mortsaje. and ground re~ts on tl~e Pmperty, if any. plus ooe-twettth ot yearty prcmium installments for hazsrd insurance. plus one-twelfth of yea~ly premium installments tor mortgage insurancc, if any, all as rcasonably estimated initially and trom time to time by Lender on lhe buis ot asses~mcols and hills and reawnable estimata thereot. 'll~e Fu~ds shall be held in a~ inslitution the deposus or ~ccoums of which arc insurcd or guarantetd by a Federa! oT sUte agency (including Lender if Lcode~ is such an institution). t.trtder ahaU appiy the Funds to pay s:+id taxts.:ssessments. insun~ce premiums and ground rents l.ender may not charge tor so holding and ap~+lying the Fii~dc. analyzing said account. or verifying aod rnmpli~g said assessments and bills, unless 1_ender pays Borrowe~ interest on the Funds and applicable 1aw ptrmits Lender to make such a charge. Borruwer and I.ender may agrce in writing ai the lime oi execution of .this Mortgage that interat on the Funds shall hc paid to Borrower, and unfess such agreement is made or applicable iaw rcquira such interest to be paid. L~~der shall nat be rcquired to pay Borrower any interest or earnings on the Funds. l.endrr shall aive to Borrawer, without charge, an aonual accounling of tht Funds showing credits and debits to the Funds and iht purpo~se [or which each dtbit to the Funds wu made. The Fu~ids are pledged as additional ucuriry for ~he sums secured by this Mortgage. If the amount o( the Fu~ds held by Lender, togethtr w~th the future monthly installments of Funds payable prior to tbe due dates of taxes, usessments. insurance prcmiums and ground rcnts, shall exceed the amount required to pay said taxes, assescments, irtsura~ce pnmiums and ground rents as thty tall due, such eacess shall be, at Borrower's opuon, e~ther promptly rcpaid to Borrower br credited to Borrower on mo~thly instaltments of Funds. If the amount of thc Funds y ~-'--• ~~ ^~-^is, :!~S~!~8!!rP ~+!~~++iums and ground rertts u ~hey fall due, 11t1a 0 LCDder snaii nui oc suru~;iwa iv a:a:.G. o.~.~.:.,:...,,.. Borrower shatl ~ay to Lender any amount necessary to make up ~he dehciency within 30 days trom the date notice is mailed by l.eader to Borrower requestiag payment thereof. Upoq payment in full of dl sums secured by this Mortgage, l.ender shall promptly rcfund ta Borrower any Funds held by Lender. i[ unde~ paragraph 18 hercof the Property ~~ sotd or the Proper~y ~s otherwise acqwrcd by l.end~r. I_ender sball apPly, no later than immediately prior ~o the sale ot the Property or its acquis~tion by Lender, any Funds hcld bv L.ender at the tim~ of applicatior- as a credit aga~nst the sums secured by ~his Mortgage. 3. Applicatloe of Payments. Unless applicable law provides otherwise, all payments received by t.ender unJer the Note a~d paragraphs 1 and 2 hereof shall be appl~ed by I_cnder 6rst in Payment of amounts payable to I_enJer by Borrower under paragraph 2 hereof, then to interesl payable on the Note, then to the principal of the Note, and then to interest and principal on any Future Advances. 4. Charges; Lkns. Borrower shall pay all ~axe~, a~u~~ments and ahcr charges. fines anJ impositions attnbutable to the Property which niay attain a pr~ori~y over Ihit Mortgage, and teasehold payments or ground rents, if any, in the manner prov~ded under paragraph 2 hrreof or, it nut paid in soch manner, by Borrower making payment, when due, d~rectly to the payee ihereof. Borrower shall promptly furn~sh to LenJer atl not~ces of amounts due under this paragtaph, and in the event Borrower shall make payment duectly. Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrowe~ shaii promptiy Jix~argr any lien u•t~ich has pnor~l~• over lhis Mortgage: p~~v~ded. that Borrower- shall not be reqwred t~ discharge any such lirn w long as Borrower shall ~gree in wrd~ng 1~~ the papment ot the obligauun secured by such 6en ~n a manner acceptable to Lender, or ~hall m g~K.d fanh con~ec~ such lie~ M~, or defend eoforcemenl of such lien in, legal pruceedmg~ wh~ch operate to prevent the enfurcement of the hen or forte+ture of the Property or any part thereof. S. Hazard Insurance. Borrower shall keeP th~ +mprovcmem~ nnw csisting ~x hereaher ereaed on the Property insured against Icxs hy fire, hazard~ included within the term "rx~ended cavetage". a:~d soch other hazards as I.ender may reyuire and m such amounts and for such periods as Lender may requirc; pr~vided, that Lender shall not require that the amuunt of such coveragr e±~ceed that amount of coverage reqwred to pay the cums secured ~by th~s Mortsage. . The insurance carrier providing !he insurance shall be chosen by Borrower subject to approval by Lender, provided, that such approva! chall not be unreasonably withheld All prem~um~ on insurance policies shall be paid ~n the manner provided uncier paragraph 2 hereof or, ~f not paid ~n such manner, by Borrower mak~ng payment, when due, directly to the insuraocc carner. Al) insuranc~ ~x-hcieti and renewals therrof shall be in fornt accepl:~blr to Lender and shall include a standard mortgage claust in fav~~r of and in fe,rm acceptable to t_ender. I.~nder shall have the right to hold the policies and renewals thereof, and Borro~er .hall prumptl~• furn~sh to Lender atl renewal not~ces and rfl rece~pts of paid premium~. In the event of loss. 8orrc~wer ~h.~ll g~~r prornpt not~cr to the in~urance carner and I.ender. I.ertder m:~y make pr«-t of loss if not made priimptly by Borrower. Unless 1_ender and Borrowcr otherwnc agrcc in w~ritmg, inwrance pra:ecds shall bc appiied to restoration ~r repair of the Property dam~~ed, provi~led such re,toratron or «pa~r -s ecvnomically feasible and the ucurity of this `Mortgage i~ nat ihereby~ impa~red. 11 curh re~turation or repair is ne~t rconom~cally feasibic or if the secunly ot this Mortgage wauld be impa~red. the insurance pr~ecJs shall be applied to the sums secureJ by th~s Mongage. vvuh the excesx, if any, pa~d to Borrower It the Prapert~ ~s abandoned hy Borrower, ur ~t Bormwer (ails to respond ta t.ender within 30 days frvm the Jate nouce i~ ma~teJ by I.ender tu Borrow•rr that ~he ~nsuranc¢ carrier otiers ro seule a claim for insurance benefits, I.ender ~s authon~ed t~~ collect and ~pp{y ~he imurance proceeds :+t I.endcr'~ opUon e~thcr to restoration or repa!r of the Pmpem~ or to Ihe sum> >c~~rcd hp ~hi~ Mortgagc Unlesc I.rndrr and 8i~rmwer ofhera~~c agree ~n antmg, any~ such applicateon uf prcx:eeds to pnncipal shall nol extend or Pcntpune the duc date c~f ~hr mnnlhl~ installment~ rcferred to in paragraph~ I and 2 hereof or change the amoum of such installment~. It unJer paragraph 18 hereof the f'roperty~ i~ acywred b~ Ixnder, :~q nght, t~tle and in~erest of Borr~~a.•er in and to any insuraoce pohc~e~ and in and co thc proc;eeds thereo( result~ng trom damage to the Property prior to th~ s~le or acq_w~iuon ~halt pa~s ta Lendrr to the eatent of the tiums secured by Ihis 1lfortgege immediately prior tc~ such sale or acqwsilion. - 6. Presen~~ion and ~t:tintenance of Propert~; I.easehulds; C'ondominiums; Planned Unit Dt~•elopmenls. Borrowcr shall keep the ProE+crt}• in gcxxl repair and tihall not comrpit yraste c~r permh ~mpairment or ueterioraiion ui ibC FruErerty and shall compi~ uith the provis~ons of any lease rf th~. Mor~gagc n un a leascbold. 1( ~his Mortgage is on a unit in ~ condominium or ~ plenned unit devel~ipment, Borrower .hall ~xrtorm all of Borrower's obligat~ons under the declaratn~n or covenants creaUng ur guverning ~hc condom~oium or planned ur.~t devel~~pment, the by-laws and regulatic~n~ „f the condomin~um ~~r planned unit Jevelc~~~n~em. .~nd cunstituenl d~xumen~ti I( a condominium or planned unit Jevelopment nder is executeJ by 8vrruwer and re~orded t~~ge~ber u~Ih thn hfc.rtgage. ~he covenantc and agreemems of tiuch n~icr shaJf be incorporated into and shell amend anJ supplcment the co~cnants and agreements of this Mortgage as if the rnler were a ~+art F,ereof. 7. Prote~tion of I.enders Securfty. If Hi~:-r~.wer f:~it~ t~~ ~rt~~rm the coven~mc and agreements contained in Ihis Mor~gage. or ~f any act~un ~~r prexred~ng +. ci~mmrnce~l which ma~erialh .~Itr,ts l.entter's interest in Ihe Pr~~pert}, ~ncludmg. but n~~t hmited to. rmincnt domam. inu~l~emy, c,~dc rnforcemcnt. ~~r .urangcments or pmceedings im~~~hing a banknip~ ur decrden~. thcn LenJer at I ender'+ i~pUOn, u~xm notice to Borrower, ma~ make ~uch appearanceti, d~~hurse tiuch sumti anil ta~.e such ar~iun ~~ ~s nccc~.ary tu pr~~tcrt Lcndcr'c ~ntcrect. inciu~hng. hut not IimitcJ to, di~burscmcM ~~f reawnahlr attornc}`'~ Irc~ and cmry u~~n Ihc Ympctty t!- maAc icp,i~n. )( I.rnJcr rryuirrJ m~,rtgagc insurancc aS :~ condit~~rn „t rnak~ng Ihc I~~an ~ccurc:l b} Ih~• M~~ttg:~gc. Ii~~rn~HCr ih ill ~-ay ~hc prcmnum rcywreil to mai~it:~~n •u~h ~n~urancr m rtlect until•w~h umc a+ ihc rcyuircmcnt f~r .uch m;uran;c trrmin~lc~ in arcordancc wilh B~~rr~~W~r'. :~nd n~~~x3~ ~a~F1744. ~ ,