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Home My WebLink About0959 . ~~l ~ '~j ~ UNIFORM COVENANTS. Bo?rower and Lender covenant anci agree as lotiows. 1. Paymant of Pnneipal and Interest. Borrower shall promptly pay when due the pr~nc~pal of anci ~r?terest on the ~n~iebtedness ev~denced by the Note. prepaymenl ~nd lateCharges a~ provided ~n 1?~e Note. and the pr~nc~pal ol anci ~ntera;i on any Future Acivances secured by th~s Mortgaye. . 2. Funds fo~Taxos and Insuranes. Sub~ect to appi~cable taw or to a w~~tten wa~ve~ by Len~e?. 8orrowe? shatl pay ro lender on Ihe day moMhly ~nstallments of pnnc~pal and ~nterest a?e payabte under Ihe Note. untd the Note ~s pa~c1 ~n tull. a sum (here~n ~~Funcis' 1 equa~ to on~tweltlh ot Ihe yearly laxes and assessments wh~ch may atlam pnonty over Ih~s Mo~tgage. and 9round ~ems on Ihe Property, d any, pius on~lwellth ot yeariy premwm mstauments tor hazard ~nsurance. plus one-Swei4h ol yearty prem~um installmenis for mortgage msurance, d any, ail as reasaonabiyest~mated ~rnt~al~y and trom hme to Ume by Lender on Ihe bas~s of assessments and b~lls a~d reasonable esUmates the~eot The Funds shall be held ~n an ~nstitut~on the depos~ts or accounts ol wh~ch are +nsured or guaranteed by a Federal or state ayency~mc!ud~ng Lender ~t Lender ~s such an ~nst~tuhonl. lenqer shatl apply the Funds to pay sa~d taxes. assessments. ~nsu?ance prem~ums and groun~ rents Lender may not charge tor so hotd~nq and apply~ng Ihe Funds, analyz~ng sa~c1 account. or ver~fy~ng and comp~t~ng sa~d assessments and b~Us. uniess Lender pays Borrowe~ mterest on the Funds and appi~cabte iaw perm~ts Lender ?o make sueh a cr,arge. Borrower and lender may agree m wnt~ng at the t~me ot execut~on o! this Mo~tgage lhat ~nterest on the Funds shall be pa~d to Bo~rower. and unless such agreement ~s made or appt~cabte taw requ~res such ~nterest to be pa~d. lenae?eh~?~ nQ~ be ceq~ted to pay Borrowe~ any ~nte~est o?earnings on the Funds. Lenc~er shaii g~ve to Borrower. w~thout charge an annuai account~ng ot tne Funds show~ng cred~ls and deb~ts to tne Funds and tne purpose tor wn~ch each deb~t ro the f unds was made The Funds are pledged as aUd~UOnai secunty for the sums secured by th~s Mortgage If the amount ot the Funds heicl by Lender together wrth Ihe future monthly mstaltments ot Funds payable pnor tu Ihe due dates oi taxes. assessments. :nsurance prem~ums ar~d yround rents. shall exceed t?~e amount reqwred to pay sa~d taxes. assessments. ~nsurance prem,ums an~+ g?~~~~d rents as they fall due. such excess shatl be. at Bor?ower s opt~on. e~ther promptly repa~d to Bpr?ower or c~~d~Wp tQ Borruwer on monthiy ~nstallments of Funds If the amount ot the Funds heid by Lencler shall not be suthciefi to pay taxes assessments. ~ns~rance prem~ums and g?ound renls as they fau due. Borrower sha11 pay to Lender eny amount necessary to make up Ihe ~ef~c~ency w~th~n 30 days from the date not~ce ~s ma~led by Lender to Borro~ver reque~Ung~ayrrlent theFetif.t.l' 1, ` Upon payment rn fuN of al{ SufnS. secureq by Ih~s Mertgag~. Lende~ 8ha~i promptly~retunc] to Borrower any FunUs hetd by Lender It unUer paragrap~ i 8 hereot iheAroperly ~s so?d or the P~operty ~s otherw~se acquned by Lende~. Lender snai? appty no iater than immed~ate~y pr~or to the sate.qf the Property or ~ts acqws+t~on by Lender. any ~unds helci by Lender at the t~me ot apphcation as a credit'aga~nst the sums secwed by th~s Mortgage 3. Application of Payments. Unless appltcable law prov~des otherH~se. all payments rece~ved by Lender under the Note and paragraphs t and 2 hereof sna?I be appi~ed by Lender f~rst ~n payment ot amounis payabte to Lender Dy Borrower ; under paragraph 2 hereot. then to n~terest payabie on the Nute. then to Ihe prmc~pat ot the Note, and then to ~nte~est and I principal on any Fulure Advances ~~~01~ Can~' gr Mq~l' ~o• ~s' 4. Charges; Liens. Borrower shatl pay ai~ taxes assessments and other Chaiges. tdg(~yp~ns attr~outabie to the Property wh~ch may atta~n a pr~or~ty over th~s Mortgage. and iea y ho~~16 ~qg~c~?pr~t~f ~~~~f~~~nner prov~deci under paragraph 2 hereof or rt not pa~d ~n such manner. b Borrower ma m men~ hen ue. ~rectl to, he oayee thereof. Borrower shalf p?omptly turn+sh to Lender aIt not~ces ot a~A~b~~dcM~?f~~~~f'a~~1'a~{!'Iri'fK~e~~nt Bonower shafl make payment d~reCtly. Bosrower shail promptly f~m~s?~p~~~ reCetpts-ev~der~o~pg:ay~c ~~~c~ts Borrower shalf promptly d~scharge any I~En wh~ch has pnor~ty ove? th~s Mortgage: prov~cied. that Borrower shall not be ?eqwred to d~scharge any such iien so ~ong as 6o~rower shau agree in wnt~ng to the payment ot the obhgaUon secured by such I~en ~n a manner acceptabie to Lende?. or shaii ~n good fa~th contest such hen by. or detend enbrcementpf such i,en ~n_ iegal proceed~ngs wh~ch operate to p?event the enforcement of ine t~en or forte~ture ot the Property or any Qart ihereof. 5. Hazard (nsurenCe. Borrowe? shali keep the ~mprovements now existing or hereaiter erected on the PrOperty ~nsu?ed aga~nst loss by hre. hazards ~nc!ude~ w~thm the te*m extended coverage . and such othe? t~azards as lender may requ;re and m such amo~„ts and for sucn per~ods as Lender reqwre. prowded. that Lender shau not requ~re that the amount ot such coverage exceed that amount of cvver~~ge requued to;pay.the surn secured by tt~~s Mortgage. The msu?ance ~arr~er,providfng the~~nSU!anCe sha~l b~Chosen by Bptrower. s?{b~ect to apprpva~ by Lender. prowded. mat suc~ approva' shait no; 6e unrea5~^abty •r:it^~e!d. Al: prem~ums on'cr,s;:[ance po~~c~es ~hat1 be paid in the manne~ rOvided under ara fa h 2 here f`r it n ~ , P p p U o Ut a d ~n such m~ nn r rr 9 P a e. by Bo ower mak~ng payment. wfien due a~rec~ly ta the ~nsurance carner. AH ~nsu?ance po!~c:es and rener~ais tnereor sr:~•: r,F m torm acceptau!e ;o Le~de~ ancl s!~ai! ,nciuae a standard mortgage ! c:ause ~n tavor ot and ~n form accepta~te to Lende~ Lender sna~1 have ihe nght So ho~d ihe pot~c~es and renewals ther~of. ~ and Borror~n? Sha~E prom~pUy turn~sh to Lender ati rene~.va! not~ces anc~ aU ?ece~pts ot pa~d prem:ums. In the event ~t iess. Borro~ve~ sha~E gcve prGmpt notiGe to the ~nsuranCe ~ac~e~ and Lender lender may make proot of loss ~f no! made-prompt~y j by Borrower I Uniess Lender and Bcrrowe~ othenv~se agr~e m ~vnt~ng ~nsurance p~xeeds sha~l be appi~ed to ?estorat~on o? repa~? of f the Property damaged prov~deci such restoraUOn or repa~r ~s econom~ca~~y leas~ble and the secunty of [h~s Mortgage ~s i not tne+eUy ~mpa~red It such resiorat~on or repa~r ~s not econom~ca!iy feas~U!e or ~t tne secu~=ty of sh~s t~lo~~gage wou~d ~ oe ~mpa~re~ ?he ~n;urance ~~ocee~is snal+ pe appi,e~~'G the sums Secur~Cf by thiS '~"o~tgaye. v+~th the excess. ~f any_ pa:d ~ !o Borrower li tne P~operty ~s abandoned by Borro:rer. o~ rf Bor+o,fer fa:~s to respond to Leneer w~th~r. 30 days trom tne date nphce ~s ma~led by Lender to Borrower thai the msurance carner affers to sett!e a cfa~m tor msurance beneh±s. Lende~ ~s autnur~zed to coffect and app~y the ~nsurance Groceeds at Lender s opt~on e~ther to restorahon or repau ot the Pro~e??y or to ine~sums sec~~red by th~s Morigage ~ Un~ess Lender anU Borrov~er othe?w~se ayree ~n wr~t~ng. any such app+~cat~or. ~f proceeds to prmc~pa~ shat; not extencs or postp~~e me ~~e ~ate ot the ~onth~y ~nsta~~~e~ts reterred ~n parag~aphs 1 and 2 hereof or change The amo~n? o! ~ sucry ~nSlai!ments It t,nde~ GaragraUh ' 8 here~~f ttie Froperry ~s acqur.ed by Le^der aii nght t~tle and mterest o! Bono,ve~ ~ ~r~ anr~ to any msurance poi~c~es an~~ :n anr~ ?o t~e p~ocee~s thereat resu~t~ng !rom ~amage to the Prcperry pnor to the sa~e ~ or acqu~s~hon shait pass to Lender to tr~e exten± o' the sums secured by tn~s Mortgage ~mme~~ate?y pnor to such saie or acqu~s~hon g 6. Preservation and Maintenance of Property; Leasehoids; Condominiums; Planned Unit Developments. ~ Bo~~ower shai! keep ihe Prope?ty m good repa~r and shai~ not comm~i waste or ~,erm~t ~mpa~~ment ~r r~eteno~ahon o!?he Prs ~ perty a~~d shdi~ ~~m ,fy w~th tne prov~s• ms ot any fedSe rf ihiS MOriga9@ i5 On a IeeSe1?Old if ThiS MO?Tgage ~S On d un~t :n d ~ortdomini~rn or a p~anr.eU un~t deve _ pment Borruwer shaMt ue?torm ai! of Bo!rower s ob~~gat~ons unde~ the deciarat~o~ ~ or covenants c~eat+~g or go~.Pl!:ir'g t^:e CGndominlum Or p~anned un~t development. the by ~aws and regulahons of the ccndom~n~um or planned unrt deve~~ _~ment and consi~tuent :~ocuments If a condom~nium or pianneci ~nrt developmer! s nder is er.ecu!ed Gy Borrowec.and recorded !ogetner w~;h th~s Mortgage. ~he c~venants and agreements ot s~ch ndef ~ sha~? be ~ncorporated ~nto and shal! amenci and supp~ement the covenants anci ayreemeMS ot th~s Mortgage as ~1 the r~de? 4 we{e a part ne+eot ~ 7. Protection oi Lende~'s Securiry. It Bor~ower ta~is to perform the cuvenarns and ag!eements conta.ned ~n th~s ',~c~tgage or ~t any aet~on or proceed~ng +s co~menced wr„cr rratena~ry attects ~enders :nterest ~n the Property ~nc~ud~ng. bui not (imised to em~-:~~nt doma~n ,nso~vency. code entorcement. or arrangements or proCeedinys invalv~ny a ~ Dankr~p! o~ decedenl then Lender a! Lenc7e~ s opt~on. upon nohce to Borrower may make su~h appearances. d~sDurse Such sums and take such act:on as ~s necessary to protsct Lencler s ~nterest. ~nc~udmg. but not I~mited to. d+sbursements ot reasonabte attorney s fees ar~d ~ntry u[~on t?~e Property to make repa~rs. If lsnder requ~red mortgage ~nsurance as a cond~hon a~ mak~ng the ioan sec:,~e~ b~ Sh~s Mo~!gage. Borrower shali pay tt~e prem,ums requr.ed t~ n;a:~ta~!! sucn ~ ~Rsurance ~n ettect unt~i sucr~ t~me as the ~eywremeni tor such ~nsura~ce term~nates ~n accordance w~th Borrowers and • ~ i ~ - ~ B~r~ PACE ~~g ~ + . a. ~ _ _ ~ p~ ~ ~ ~ ~ µ ~ Y~ ~ , ~ ~ ~ ~4~ -