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Home My WebLink About0956 _ • - ' E . ' i ~ ~ , ~JNIPORM COVP.NANTS, BOf~OWC~ All(~ LCfIC~Cf COV~pi111t Al1lI A~~CZ ~S fOIIOWS; ~ i 1. !'~ya~enf at Principal aad loferest. liorrawer ~hall p~omrtly ray whcn Juc thc principa! of und intcro~t on thc ~ indebtcdncss cvidcncc~ hy Ihc N~Ic, prepnymcnt s~r~d latc rhar~c~ as providcd in ihc Nota, and Ihc principal uf and int~rest ( o~ any Fulurc Advanccs sccureJ hy ~his Morigagc. ~ ~ 2. FuAd~ fo~ Taxes and !n!suraoce. Subject to applic•rblc law or to a wriltcn waivcr by I.c~~~r, ~iorrowcr shall pay to Le7dcr on thc d:ry monlhly inslallm~i~ts ~~t principa) and int~~rc~~ arc pay~hl~~ ~m~lcr ~hc N~~tc, until the N~~tc ic paitl in f~~ll. • ~um (heiei~ "Funds") equal tc+ une•twe!!Ih of Ihe yearly laxcs and ac~essmeMs which may attain p~i~~riry over ~his Motlgagc, an4 g~~unJ rcnts on thc Property, if any, plus cme-twcl(ih of ycarly ~srcmium inslallmcnls for hazard in~urancc, plus onc•twclflh of ycarly prcmium instrllm~n~s fo~ mo~Igagc i~surancc, if any, all a~ rcasonahly c~limatc~ initially and T~om time to timc by I.cndcr on thc basic of a~sessmcnt~ and hitls ari~l rcaconablc c~timatca thcrco[. The Funds shall hc hclJ in an ins~itution thc de;~sits ar as:caunls of which are insureJ or guar.~nlced hy a Fcdcral or ' ~ sttte agency (in:lud:'ng Lender if [.enJer is such a~ inslitution). I.enJer shall apply ~he Fundc to pay said la~ces, assessirents, insurance premiums and graund rcnts. Lende~ may not charge lor ~o h~~l~ing and a~plying ~he Funds, analyzin~ said account, or verifying and compiling said assetisments aod hills, u~lets Len~er p:iys Horrower interest ~m the Funds and applicahlr law ~ petmits Lendcr to make such a charge. E3~irrower anJ Lendc~ niay agree in writing at the tin:c ot exccution o[ this ~ !!tottgage that interest on the Funds xhall t~c paid te Borrou+cr, and unlcss such agreement is made or applicafilc law ~ rtquircs such in~erest to be paid, l.cnder shall not h~ rcyuircd t~ pay Borro`ver any intcrest or carnings an the Funds. I_cn~Icr • - ahall give to Borrawer. without charge, an annual accountins of the f~unJs shawing credits and debits to the Fund~ and ihc ~ purpose fo~ which each debit to the Funds was made. TFie Funds are pledged as additiona) security for tht sums secured ? by this Mortgage. - ~ ~ . If tt~e amount of thc Funds hcld by Lender, together with the futu;e monthly instailmenls of Funds payable prior to the du~ ~a!es of taxes, assessments, insu~ance premiums and ground renis, shall exceed the amount required tu pay said ta,ces, { usessrttents, insurancE premiums and ground rents es they fall due,' such excess shall be, at t3or~ower's optian, either ~ prompdy repaid to Borrower or credited to Borrower on monthly installmcnts of Funds. lf thc amount of thc Funds held by Lender shall n~t be sufficient to pay taxes, assessments, insurancc premiums and ground rents as they fall due, Bortowtc shall pay to Lender any amount necessa~y to make up the deficiency within 30 days from the date notice is mailed ~ j b/ L.eade~ to B~ rrower requesting paymcnt thereof. • ~ Upon payment in full of al) sums secured by this Mortgage, I.cndcr shall promptly refund to Borrower any Funds . held by i,ender. If under parag~aph 18 herenf the Property is sold or thc Propcrry is othcrwisc acquired by Lender, [.ender ~ball ~pply. no later ihan immediately prior to the sale af thc Property or i~s acquisition by. Lender, any Funds held by Lender ~z the time of application as a credit against the sum~ secured by this Mortgage. . . - 3. Application of Paymeets. Unlcss applicable law pravide's othcrwisc, al) payments received by I.ender undcr the t 3 Note and parag~aphs I and 2~ereof shal) be applied by I.ender fi~st in paymcn! of amounts payab)e to Lcnder by Borrowe~ under paragraph 2 hercof, then to interest payable on the Note, then to the principal of the Note, and then to interest and principal on any Future Advances. - - ~ 1. C6ar~es; Lkns. Borrower. shall pay all taxes, asses~sments and other charges, fines and impositions attributahle to } ths Property which may attain 2 priority over this Mottgage, and leasehold paymcnts nr ground rents, if any, in the manner - provided under paragraph 2 hereof or, if not paid i~ such manner, by Borrower making payment, when due, direcdy to tha ; 3 p~yee thereof. Borrower shall promptly furnish to i.ender all notices of amounts due imder this paragraph, and in the event Borrower shall make payment directly, korrower shall pr~mptly fur~ish ta Lender receipts evidencing such paymer~ts. t Borrowa shall promptly diuharge any lien which has priarity ovcr ~his Mortgage; nrovided, that Borrower shall nct bc i~ ~ etqu~rtd to discharge any such lien so long as Bor~ower shall agrce i~_ writing to th= payment of ttie obligation secured b~y we~h lien in a manner ac~eptable to Lender, or shall in good faith contest siach lien b~, or defend enforcement c~F such lien in, k~~l ptoceedings ~hich operate to prevent the enforcement of the Iien or forfeiture of the Propeny or any part thereof. j~ Hszard Isrsuranca B~trower shall keep the impri~vemcnts ~ow existing or hereafter erecteQ on the Property in~ured 4~ =ga~nst lass by ~ir~, hazards included within the ttrm "extended coverage". and such other hazards as Lender may require ~ and in suct~ amounts and for such per~ods as Lender may reyuire; provided, that Lender shall not require that the amou~t of such eoverage exceed that arnount oi caverage required to pay the sums secured by this c~fortgage. 3 ''I~t insurance catrier providing the insutancz shall be chosen by BQrrou•ec subject to approval by Lender. provided, ~ tbat such approval shal) not be unreasonably withhetd. All premiu~m on insurance policies shall be paid in the manner ~ provided under paragraph 2 hercof or, if not paid ia such manner, by B~rrower making payment. when due, di:ectly to the insurance carritr. ~ ~ ~ All insurance policies and renewals thereof shall be fonn acceptable to Lender and shaii include a standard m~rtgage = ' claust in favor of and in form acceptable to Lender. Lender shall have the iight to hold ~he policies and renewals thereof, ~ f and Borrower shall promptly furnish to Lender all renewal notices and all reccipts of paid premiums. In the event of loss, ~ - Borcower shall give prompt notice to the insurance carrier and ! ender. Lender may make proof of loss if not rttade promptly . ~ - by Borrower. - . - ~ ' Unltss Lender and Borrower otherwise agree in writing, insurance proceeds shall bc applied to restoration or repair of ~ the Property damaged, provided such restoracian.or repair is economicall}• feasiblc and the securiry of this Mortgage is ~ not thereby impaire~_ If such restoration or repair is nM economically fcasibte or if the security of this Mort~age would f be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage. w~ith the excess, if any, paid ~ to Borrower. if the Property is abandoned b~• Borrower, or if Borrower fails t~ respond to Lender within 30 days from the date ttotice is mailed by Lender to Borrower that the insuranre carricr olTers to settle a claim for insurance benefits, I_ender is authorized to collect and apply the insurance procetds at l.ender's option either to~restorauon or repair of the Proper[y or to the su~ns sccured by this Mortgage. ~ . ` Unless Lender and Sarrower otherwise agree in "writing, any such applica~ion of prc~ceeds to pnncipal shall not eYtend ~ or postpone the due d~te of the monthty installments rcferrcd to in para~raphs 1 an~ ~ hCrcof or change the amount of wch installments. If under paragraph 18 hereof thc Propertv is acyuirrd h~• Lcndcr, all ri~rht, title and in~erest of Borrower in an~ to any insurance policies and in and to the procee~is thercof resul~ing from daniage to the Property priar to Ihe sale o[ acquisition shail pass to Lender to the extent of the sums sccure~i by this Mortgage immediatcly prior to such sale or acquisitior. • ~ 6. Presen•albn aad Aiaintcnance of Ptoperi}~; Lraceholds; Cor~dominiums; ~Ptanned Unit Ih~•elaFmenls. _ BorroN•cr ` shalt keep thc Property in good r~pair ~nd shall not commit wastc or pcrmit impairmcnt or detcrioration of the Prorci~ty ! ~nd shall comply with thc provisions of any lease if ~6~s A1or~gagc is iin a Icaschold. If thic Afartgagc is on a unit in a ~ ' condominium ar a pl~nned unit ~evrlopment, Borrower shall ~xrlorm all of Borr~~w~cr's ubligations ~indcr the decl~ration E ot c~venants crcating or gaverning th~ canduminium or plannrd unit devclopmcnt, thc by-laws and rcgulations o[ thc ~ condominium or planned unit devcl~~pmcnt, and cons!itucnt Jixumrnt~. If a u~ndominium or plannrd unrt ~Icvclopmcnt . rider is executed by Borrower and rerordcd tugethtr with thic Murtgage, thc covrn:~ntx anJ agrcements of such ri~le~_ - ~ tha11 be incorporated into and shall amcnd and supplcment the covenams anJ agrecmcnts of this Mortgagc as if the eider ~ were : part hcrcof. _ = 7. Prolection of I,ende~'s Secarity. lf Barrower t~ils to F+crform the covcnants an.l agrccmcnts rontained in this Mortgage, ur if any actian or procreding is commearrJ whirh ma~criatly :ilTrris l.rieil~r's in~crect in the Pru~riy, F ineluding, but r:ot {imited lo, rminent doma~n, insolvrncy, c~xle rnf~~rcrmrnt, i~r :~rr.~n~;rmrntc or pr~keedin~s imol~•in~ a ~ E bsnkn~pt or dccrdcnt, thcn I.cndcr at l.rn~lrr's ~~ptian, urx~n noticc ta Bnrruwrr, may makc surh ap~xaranr«, Ji.hur~: such. ~ ` wm:. and tak~ such arli~~n ac is ncres.ary tu prc,tcrl I.Cndcr's ~mrrest. inclu~be~g. but nal linticcd ti~. ~I~.hurscmcnt uf ret~sonahlc atlvmcy's tcci anJ cn~ry u~x~n thc Yrapcrty ta makc r~p:~ir.. 1( I.rl~clrr rc~~uircd nzur~~agc in~u~ari.r ac_ a cornlition ~~f making Ihc loan ~erure~l hy this M~,ngaFc. liorraw~rr shc~ll pay ~hr prcmiums rcquircd ta maint:iin ~uch iawtance in ctTecl unlil si:ch timc as the ~rc:~ui~ement fot such insurance tctminatrs in accor~ancs with Born~wer's and ~ . . ~ - _ a~ 378 95~ - ~ ~ , _ _ gQ~ 377 ~~~~g ~ - ~:~-~e~~~ - . . , - Y,r..'" . . _ . _ . . . 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