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Home My WebLink About0979 UNI~ORM CbVHNANi~. Ba~t'o+r`s ~sd L~dat Coret~.a~nt ~ a~roe ~(~o*,~({ • 1. h~a~t ~t ~belp~l rsd b/~twit. ~xmwet ~aU Pe'um~,tlp Pin ~ ene the princlpal and iaterat in- debtednea er~denced by tha i~lote aad tate char~a ~ psorided in tbe Nate. Z. Ptinae W~ T~es ~d Lwn~. Subject to appt~Cable law ot s wtitteo asirer br Lec~dsr. Borrow,er:hail pay to Lcnder on the day moatl~ly P~~eats d PrInclPV ~nd intec+est ara payahk u~ tbe Nate. unNl the Note is psld in fuU, a tunaa Werein "~nds") equal to oae-tw~elttb of tlae rarly ta~oes aod aaaunents (indudla~ conduminium and planned ~nlt derelopmeat as:es~neat=. If a~r) whkh may attaln ptlorltp o~er thb Mat~ and ~round nats cn tbe Propertp. if anr. plu~ one-twetRh of Tearlr preminm in:tsllnuab fa haz~rd iaa~ra~, p1~u oae-twe]Rh of y~eariy pramluw la- =taUmeats for mottga~e ln:utance. if aar. al! as roa:onablp atiaaated iattisUy aAd itti;aa time to time by Lender on the b~b of asseumeab ,rad bills and ceasonabk estiaaata theroaf. Aorro~rer shdl not be oWlQated te malce snch payments ot Fuad: to Lendar to ttx w~teat thst ~orro~vcr mates wch parmeab to tba bolder of s ptior mort~ge a deed of trust if wch holder is an ~astitutianal lender. If 8orcnwer psYs Funds to LeadEr. the Funda:haU be held in aa e~titutioa tbe depositi a accounts of Mhich an in- seu+ed or ~uuanteed by a Federal or state sgency (including Lender if Lender ~ such an institutioa). J~ender shall apply the Fun~is to pay said tues. assessments~ uuursnce pctimlum~ and gmund cenb. L,endsr may no~ charge fa so holdln$ and applying the Fuads~ aaalyziag said sccount or verifping 4nd oompiling s~id asse3sments aud bilis, unless Lender psys Borraver interest on the Funds and applicabk taw permib Lender to make such a charge. Borrower and Lendet may sgree in writing at the time of esecution of this Mortgagt that interest on the Funds shal! be paid to Borrovrer. aad ucileu :uch agreement ls made or applicable law cequires surh interat to be paid. Lender shali not be requircd to pay Borrower any intenst ar earning: on thr %•unds. Lendec:hall give to Borrower. ~rlthouc chuge~ an annual accounting of ~ the Funds showing credits aAd debits to tn2 Funds and the purpose for whic~ euh deb~t to the Funds wr~s made. The Fuads are pledged u additional security for the sums secured by this Mortgage. If the unount of the Funds held by Lender, together with the futun monthly installments of Funds payable prior to the due dates of ta~ces, assessments. lnsuraace premiums and gmund reats, shall e:ceod the amount required to pay said tues, assessments, insurana premiunns end grouad crnts as tbey fall due. such excess shall be. at Borrower's oprioa. either prompdy npaid to Borrower or creditcd to Borrower on monthly insts,liments of Funds. If the amount of the Funds held by Lenda shall na: be suffic~ent to pRy tases, assessmeats. in4urance premiuau and ground rents as they f~l1 due~ 8orrower Yhall pay ta Lender say amount necessary to make up the deficiency in one or raore payments as Lender may requin. Upon payraent in full of afl sums secured by this Mortgage~ Lender shall prompdy refund to Borrower any Funds held by Lender. If under puagraph 17 hzeeof the Property is sold. or the Property is otherwiu acquired by Lender. Lender shall apply. ao later thun immediately prior to the sale of the 1'roperty or its acquisition by Lender. any Fuads held by Lender at the time of spplicstion as a credit against the sums secured by this Mortgage. 3. Appikadon of Pa~menb. Unless applicable law provides othmrise, all payment~ nceived by Lender under the Note and paragrsphs 1 aad 2 hereof shal} be applied by Lender first in psyment of amounts payabie to Lender by Botraw~r under puagraph 2 hereof, then to interest payable on the Note, and then to the principal of the Note. ~ 4. Prlor Mortga~es and ~hed~ of 'I~wt; C6ar~a~ Uea~. Borrower shall perform all of Borrower's obligations uader any mortgage. dced of trust or other security agrcem~nt with a lien which.has ~riority over this Mortgage, in- ~ cluding Borrower's covenants to make paymeats when due. Bocrower shall pay or cause to be paid all taxes. assessments ~ and othtr charges. fines and impositions attributable to th.- Properly which may attain a priority over this Mortgage. ~ and leasehold payments or ground ronts, if any. i ' H~sard Inaaroa~e. Horrowe* shall keep the improvements now existiQg or hereat~er erectod on the Property ; I insured against loss by fin. hazards included within the term "extendod rnverage", and such other hazards as Lende~ , mavi cequire and in s~ch amcunts qad for such periods as Lender may require. ' The insuran:e carrier providing the insurance shalt be chosen by Borrower subject to approval by Lender; provided, that such appmval sF.all not be unreasonably withheld. All insurance poiicies and renewals thereof shall be in a form acceptable to Lender and shall inciude a standard mortgage clause in favor of and in a form acceptable to Lender. ( Lender shall have the right to hold the policia and nrewals thereof, subject to the terms of any mortgage, deed of trust ; ~ or oiher security agreement with a lien which has priority over this Mortgage. ~ ` In the event of loss. Borrower shall give prompt notice to the ins~rance canier and Lxnder. Lender may make proof of loss if noi made promptly by Borrow~sr. If thc Property is abandaned by Borrower. o~ if Bonower faiks to respcrnd to Lender within 30 day~s from the date notice is mailed bv I.ender to Bonower that the insucance carrier offen to settle a claim for insurance benefits, Lender is autharized tfl collect and apply the insurance procteds at Lender's option e:ther to restoration or repair af the Prop- erty or to the sums sccured by this Mortgage. 6. Presenatton and Ma.ntwance of Property; Lea~ehalds; Condomininms; Plaaned Unit Derelopments. Borrower ~ ; shall kap the Property in good repair and shall not cummit waste or permit impairment or deterioration ef the Property ~ aad shall comply with the pzo~isions of any lease if this Mortgage is ~n a leasehold. If this Mortgage is on a unit in a con- a dominium or a planned unit devslopment, Bo:row~r s5a11 perform a{1 of Bonower's obligations under the ueclaration or ~ covenants cnating or govetning the condominium or planned unit de.~elopment, the by-lawz and regulations of the can• I dominium or planned unit development, and constituent documer,ts. _ ~ 7. Prota~tbn o~ Lender's Secntit~. If Borro:~~er fails to perform the co~~2nants and agceemenis contained in this Mortgage. or if any aMion or proce~ding is commenced which materially affects L,ender's interest in the Property, then Lender, at Lender's option, upon notic~e to Borrow~er, may make sucn appearances, disburse such ~ums, including rer~sonable sttomeys' fas, and taice such action as is necessary to protect L.ender's interest. If I.ender required mortgage . insurance as a conditioR of making the losn secured by this Mortgage. Bon~ower shall pay ihe premiums req~~iced to maint~in such insnranee in effect until such time as the nquirement for such insurance terminazes in accordance with V Bortower's and Lender's written agreer:unt or applicable Iaw. ~ Any amouats disburstd by Ler,der pursuant to this paragraph 7, with interest thereon, at the Note rate, shall ~ ~ bECOme additional indebttdness of Ecr•ouer stcusrd by this M~rtgage. Unless Borrower and Lsnder agree to other tetens of payment~ such amotuits shall be psyabie upon ~ocice from Lender to Borrower nquesting payment thereof. Ndthing contain~d in thu ~aragragh 7 s;~all require Lender to incur any expense or take any action hereundtr. t a. Impectbn. Lender may make or cause to bs made reuonable entries upon and inspsctions of the Property. pro- ~ vided that Lender shall ~t~e Borrower notice prior to an~ such inspecti~n specifying reasonable cause therefor related to ~ ~ L~eader's intere:t ia th~ Property. ~ 9. C~dw~aatloa. The prxeeds of aay awud c+r cl~im for damagas, dinxt or constqaential, in connection with aay ~ ' coadem~ or otha.~~ of-the Property~ or part thereof, or for convey~nre in lieu of coademnation. are hee~eby ~ aui~r?~ sht~i,b~ jLO~der. subjat to the tams of any mortgage~ dad of trust or otha ucurit~r agrtement ~ ~?itb s iiea,rhich has priority over this Mort~age. t B~K ~ PAGE ~ ~