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Home My WebLink About0937 ~ a _ ` ' ' , - ~ ~ ;~i: UNIFORM COVL'NANTS. RO-rowcr nnd l.endcr c~~venant and agrec as foltows: Payment of Frinctpal Aad Interesl. 13ormw~er si~all promptly pay when duc thc principal of and~intcrest an the in~lebt~d~ess evidence:i hp the Note, prepayment aud latc: charges as provided ir the note, anJ thc principal af and interesi on an~ Future Advpnces secured by this Martgage. . 2. Funds for T~ixes ~nd Ynsurwnce. Subject to applicable la~v or ta a written waiver by i.ende~, Anrrower sh211 pay ; to I.ender on the day monthly instAllments of principal and intcrest a~c payable under ihc Nate, until thc Nate is paid in fuli, a sum (herein "Funds") equat to one-tevelfth of thc yea;ly ta~ces and assessmenls which muy attain priority over this Murtgage, ar~d ground rents on itE~ 1'ruperty, if any, plus one-tweifth of yearly premium installments for hazard insurunce, plus one-twelfth of yearly premium insta~lmeuts for mortgage insurancc, if an;•, all as rcrsonably estimated initiaUy and irom , timc to time by Lender on the basis of ~ssrssm:nls and bills and reason~blc eslimates theceof. ~ ~ The runds shalt be hei~l in an institution the deposits or ~ircounts at which are insurcd a~• guaranteed by a Federal or state agency (including Lender if Lender is such an institution). I.ender shall apply the Funds to pay said taxes, ;zcsessments, insurance premiums and ground rents. I.ender may not charge far so halding ~nd applying the Funds, analyzing said account, or verifying and compiling said ass~ssme~its and F~ils, unless LendCr pays Borrowcr intcrest on Ihe I~unds ancl applicable law permits I_en~c;r to make suct~ a charge. I3orrawer and I.ender may agree in writing at the time of exccution of this ~ ;tiarigage thr,t interest on thi: Fu~ds shap bc paid to Barrower, and unless such agrecment is made or a~plicable law requirss such interest to be paid, 1_ender sh~tl not bc required to pay Bc~rrow~r a~y intcrest or earnings on ihe Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds showing credits.an~3 debits to the Funds and the purpose for which each debit to the Funds was made. The 1=un:1s ar~ pledged as additional security for the sums secured by this Mortgaga. . If the aroount af the Funds held by C.endcr, togcthcr with thc future rnonthly installments of Funds payable prior to ' the due slates af taxes, assessments, insurance premiums and ground rents, shall exceed the amaunt required to pay said taxes, assessments, insurance premiums and gruund rents as they (all due, such czceas shall be, at I3orrower's c,ptian, either promptl~~ repaid to Borrower or ~crcdited to Borrower on monthly installments of Funds. If thc amount oi the Funds he(d by Lender shall not be sufticient to pay taxes, assessments, insurance premiums and ground rents as they fall due, ~ Borrov?er shall pay to Lender any amount necessacy to make up the deficiency within 30 daps fram the date notice is mailed ~ by Lender to Borrower requesting paymcnt thereot. Upon ~ayment ir~ ful) of .all sums secured by this Mortgagc, Lender shall promptly refund ta Borrower any Funds ~ held by L.ender. If under paragraph 18 hereof the Property is suld or the Property is othenvise acquired by Lendcr, I_cnde~ ~ shall apply, no later than immediately prior to the sale ~f thc Propcrty or its acquisition by I.ender, any Funds held by - Lender at the time o[ application as a credit against the sums secured by thic hiortgage. 3. Application of PAyments. Unless applicable laH~ pravides otherwise, all payments received by I.ender under the Notc and paragraphs 1 a~d 2 hereof shall be applied by I.endcr first in payment of amaunts payahle to LcnJe~ by Borrower undcr paragraph 2 hereof, then to interest payablc on the Note, thcn to the principal ot the Notc, anJ thcn to intcrest and _ principat on any Futur~ Advances. _ - ~ 4. C6arges; Liens. Rorrower shall pay all taxcs, asscssmcnts and othcr charges, fincs and impositions attributable to ~ the Property which may attai~ a prioriry over th~s hfortgage, and leasehold ~ayments or ground rents, if any, in the manner ~ provided undcr paragraph 2 hereof or, if nat pai~ i~~ such m:?nner, by Borrowcr making payment, when due, .directly to the payee thereoF. Borrower shall promptly furnish to Lender all notices of amounts duc under this paragraph, and in the event ! Bnrrower shall r~iake payment directly, Borrower shall prompt!~ furnish to Lender receipis evidencing such payments. I Sorrower shall promptly discharge any lien which has priority uver this Mortgage; provided, that Borrower shall not be ~ required to discharge any such lien so long as Borrow•er shall agiee in writing t:~ the payment of the ohligation secured by such lien in a manner acceptable to Lender, or shall in go~d faith contest such tien by, or defend enforcement of such lien in, iegal psa:eedings which operate to prevent thc e~forcemcnt of thc licn or forfeitur~ of the Propcrty or any part thereof. 5. Hazard Insurance. Borrower shall keep the impro~~ements noa• existing or hercaftcr erected on the Property insured against loss by fire, haz.^,rds included within the term "extended coverage", and such other hazards as L~nder may require ancl in such amounts and for such periods as Lender ma~r rcquirc; provided, that LeRdcr shalf not requir~ that thc amount of such coverage exceed that amount of coverage reqi~ired to pay the siims secured by this Mortgage. ~ The insurance carrier providing the insurance shall be :.hoscn by Borrowcr subject t~ approva! by Lender, provided= that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner ~ provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the insurance carrier. ~ All insurance policies and renewals thereof shall bc in forn~ acceptabte to Lenc!er and shafl include a standar~l mortgage ~ clause in favor of and in form acceptable to Lender. Lender shall have the right to hold Ihe policies and rene•.vals thereof, ' and Burrower shall promptl~ furnish to Lender all renewal notices and all receipts of paid premiums. In the event ot loss, ; Borrower shall give prompt notice to the insurance carrier and Lender. Lender may ma~e proof of loss if not made promptly ~ by Borrower. ~ . ~ " i Unless Lender and Barr~wer otherwise agree in w~riting, insurance proceeds shall !x, applied to resroration or repair of ~ the Property dan~aged, provided surh restoration or repair is econor~iically feasible and the security of this Mortgage is ~ ~ot thereby impaired. If such restoration or repair is not economically feasible or if the security of this Mortgage would ` be impaired, the insurance proceeds shaU be applied to the sums secured by this Mortgage, with the excess, if any, paid ~ to Borrower. If the Property is abandoned by Borrowcr, or it Borrower fails to respond to Lender within 30 days from the ~ d~!e notice is mai!ed h~ I,ender t~ Rorro~~er that the insurance carrier offe~ co settle a claim for insurance hen~fits, I ender ~ is authorized to coiiect ana apply' I~t6 fitSUTaiii~ ~i~sa.~ca~S at ~_~;:~~:T S;J~t#('.fi Gi1~'i~;T Qc? i~iidf3(IATi Cri icj)8tF OI t~'1C n~vrr'--:'_•'~~ a, i3~~ sums sec~icd `oy this hSortgage. ~ ~ Unless I.ender and Borrower otherwise agree i~ writing, an~~ such application of proceeds to principal shall not extend or postpone the due date of the monthly installments referred to in paragraphs l and 2 hereof or change the amount of such installments_ If under paragraph 13 hereof Ihe Property i~ acyuircd by' Lendcr, all right, titlc and iriterest of Borrower ~ in and to anp insurance policies and in and to the procceds thereof resulting from damage to the Property prior to the sale or acquisition shall ~ass to Lender to the extent of the sums secuced by this tito~tgage immediately prior to snch sale or ~ ~ ~ acs~uisition: . , b. Preservsetion and ~faintenance of Property; [.easehotds; Condamineums; Planned Unit De~•elupments. Borrower 3 shaL' keep the Properry in good repair and shal( not commit .vaste ~r permit impairment or detcrioration of the Properiy and shall comply with thc provisions of ar_y lease if this Mortgagc is on a Icasehold. If this 119ortgage is en a unit in a condominium or a planned unit devclopmcnt, Rorrow•er shall perform all of Bnrrower's obligations under the dedaratinn : or covenants creating or governing the condominium or planned unit development~ the by-la~vs and regulations of the ~ condominium or planned unit development, and constituent ~locuments.. If a condominium or planned unit development ~ ' rider is esecuted by Borrower and recorded together with ihis ~14ortgage, the covenants and agreements of sueh rider t shall be incorporated into and shali. amend and supplcment thc covenants and agreem~nts of ihis b'Iortgag~ as if thc rider ~ ~vere a pact hereof. ~ 7. Profectio~ of I,e~der's Security. I( Borrower fails to pcrform the covenants and agreements contained ia this ~ . Mortgage, or if any action or proceeding is commenced w~hich materially a(Tects Lender's inter~st in the Prope.rty, < including, but nut limited to, eminent domain, insoh•ency, code enforcement, or arrangements or proceedings involving a ! bankrupt or decedent, then Lenc~er at Lender's option, upon notice_ te Borrower, may make such appearances, disburse such ~ surris and take such action as is necessary to protect I.ender's interest, including, but not limited to, disbursement of ~ reast?nable attorney's tees and cntry upon the Property to makc repairs.: If I.cnder required mortgage insurance as a ~ condition of making the loan secured by this Mortgage, Borrower shall pay the premiums requir~d to mainiain such ins~rance in effect unt~l such time as the rsquirement for such insurancc terminates in a.ecordancc witn Bnrrower's and ' ' ~ ` ~ Bi1( ( c.,~~i PbGE ~7J~ _ _