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002119
<br />I. UrSitoknt Co4't_� x,;ts, Borrower and Lender covenant and agree as follows:
<br />I. Payment of Principal and Interest. Borrower shall rain promptly indebtedness Fu as evidenced by the Note, prepayment and late charge~ as provided in the Note, and the principal of and interest
<br />p P y pay when due the principal of ind Interest on the
<br />on any Future Advances secured by this Mortgage.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to lender on the d+iy monthly installments of principal and interest are payahle under the Note, until the Note is paid in full,
<br />a sum (herein "Funds ") equal to one - twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground :tots on the Property, if any, plus one - twelfth of yearly premium installments for hazard insurance,
<br />Plus one - twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and f
<br />time to time by Lender on the basis of assessments and hills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institution). 1 ender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge for so holden
<br />or verifyin e ts,
<br />g and compiling said assessments and bills, unless Lender its 13orrowtrPnitcrtthnithe Funds land applicable law
<br />Permits Lender to make such a charge. Borrower and Lender rn> agree in writin
<br />Mortgage that interest on the Funds shall he paid to Borrower, and un g at the time of execution of this
<br />less such agreement is made or applicable law
<br />requires such interest to he paid, [_ender shall not be required to p;,y Borrower any interest or tannings on the Funds. Lender
<br />Shat! give to Borrower, without charge, all annual accounting t
<br />purpose for which each debit to the Funds was made. Thegl i f,,dhtarei pledged all :Iddituanal security for the sums t, credits anti debits to the Funds and the
<br />by this Mortgage .
<br />If the amount of the Funds held by Lender, tug � - (ms secured
<br />the dui dates of rates, assessments, insurance prenliurtts and grotund renttts, ,hall exc'eedntile lant ounttreq Tired to3pa said detaxes
<br />assessments. insurance premiums and ground rents as the~ 1,111 due, such r ce,s shall he, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall not be sufficient to pay taxes, assessments, insura „ce premiums and ground rents as they Borrower shall pay to Lender any amount necessart (,make up the Jeficien,S emiu s dais room the tat fall due,
<br />by Lender to Borrower requesting payment thereof a notice is mailed
<br />Upon payment in full of all sums secured by tills Mortgage, I ender shall prornptl% refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Property is ,old
<br />shall apply, no later than immediately prior to the sale of , he 1 rupert% Is other "Ise ;,eq(I, red by Lender, Lender
<br />Lender at the time of application as a credit against the SUMS SecurpedrihytthissMorrtgagttto ,t h� Fender, any Funds held by
<br />3. Application of Payments. Unless applicable law provitjes otherwise. all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall be applied by Lender first In pat rile,,( of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note, then rte the principal of tilt Nut", ;end then to interest and
<br />principal on any Future Advances.
<br />4. Charges; Liens. Borrower ,hall pay ,III fate,. :",wssnicnis .utd other
<br />the Property which may attain a priority over tills Mortgage, and leasehold pay�rnents, tigroundslrents/,ifian)S, in ibLaabnneo
<br />Provided under paragraph 2 hereof or. if not paid in such manner. by Borrower making payment, ,then due, directly to the
<br />Payee thereof. Borrower shall promptly furnish to Lender all nonccs of amounts due under this paragraph. and in tilt event
<br />Borrower shall make payment directly. Borrower shall prompt!) turnish to lender rc_cipts ct,dent ;I such
<br />Borrower shall promptly discharge any lice which has priority oter (Ili, !slurt'a,e,
<br />required to discharge any such lien so loll I Payments.
<br />b as Borrower shall agree in "ruutg t� he payment oltf itheLtbht,wer shall not be
<br />such lien In a manner acceptable to Lender, or ,hall in good faith contc,t much lien by, or detena enforcement of such lien in.
<br />I �,ation secured by
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />S. Hazard Insurance. Borrower shall keep the Improtemends now existing or hereafter erected on the Property Insured
<br />against loss by fire, hazards included within the term "extended coverage and such other hazards as lender may insurer
<br />and ,n such amounts and for such periods as Lender may resuure; provided. that Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage required n, pay the sums ,roared by this Mortgage.
<br />71he insurance carrier providing the insurance shall he chosen by Borrower subJtct to approval by Lender; provided,
<br />that such approval shall not be unreasonably withheld. All premmms on insurance policies ,hall be paid ut the manner
<br />provided under paragraph 2 hereof or, If not paid in such planner, by Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renewals thereat ,hall be Ill torn( acceptablc to Lender and shilil ulciude ,1 standard mortgage
<br />clause in favor of and to farm acceptable to Lender. Lender shall hate file right
<br />and Borrower shall promptly furnish to !.ender all renewal notice, anti all receipts of paid prenl(tim, In the r%als h loss,
<br />to (told the policies land renewals thereof.
<br />Borrower shall give prompt notice to the Insurance earner and lender !.ender may make proof of loss It net made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree In wrlt,rt ut,urarlce pro .
<br />the Property damaged, provided such rea,toratu,n or repair ,s ecunonucallycte'jisihilell.( e atp phedcto 1,esofrathon of, rt gage is
<br />repair, of
<br />not thereby' impaired if such restoration or repair t; nut ecunonucally feasible or it the wcunty of this Mortgage would
<br />be impaired, the insurance proceeds shall be applied to the runts ,"cured by this Muotgage, with the excess, if any, ould
<br />to Borrower If the Property is abandoned by Borrower, or It Borrower falls to respond it) Lender within 30 days from the
<br />date notice Is mailed by Lender to Borrower that the insurance carrier utters to Wide ., claun for insurance benefits, Lender
<br />Is authorized to collect and apply the Insurance proceeds it Lender', option either to restoration or repair of the Property
<br />Of to the sums secured by this Mortgage
<br />Unless !_ender and Borrower otherwise agree Ill "riling, any sorb appllcatio,t
<br />Of prtotCCds to prtncip;Il ,hall trot extend
<br />Of postpone the due dale of the monlllly installni"nts referred to in paragraphs ! a,lcl e h"rrot ur change the amount of
<br />such installments. It under paragraph IK hereof the Pnaherty is a;suired hs Lender. ,ail right, tiff” and interest of BorInt (it
<br />in and to any Insurance policies and i(t and to the proceeds file t re,ulling front d-3-age to the Prod Interest rest (tr the Sal"
<br />ac aegwsn. shall pass to Linder to the extent of the sums securer! by the, Mortgage rI)lnledcitcly pitc,r to Such sale tot
<br />acquisition.
<br />6. Preaervatlon and **laintenance of Property; Lcmeholds; Cundotilintunl.;
<br />shall keep the Property in good repair and shall not commit waste ur permit ompairia(ictil of detcrioraticl(rof (the Borrower
<br />and shall comply with the provisions of any itase it tills Mortgage Is +on ;, le:urht+IJ If 1hi. �tt,tl.agc Is tin ,I ;(nit e a
<br />condominium or a planned unit development, Borrower shall perform all tit Itorrottcr's
<br />or covenants creating or governing pile condt,rrunrlun or planned unu devrlr , f plf a(I++rts undel the decl,u a I 'I
<br />condominium or planned (flit development, ,and ct,I1Sfltrl',,t cltltllllletli, I Ine'Itl, 11x1 tl -lawn Glad rl'�Ittallt?lim of The I
<br />rider Is executed by It :, ndontnluuat or planned unit Jetcloli licill
<br />shall be incorporated into arldrshalld rrrrnd amts (,pplemendlttileicoMcllalli( if' Ilagreem 'ellllms „r'Iidls,lfprerntcn(o tad much nd,rr
<br />L wire a part hereof tilt , t b a tR 'e am if rfile nd"I
<br />.. Protection of Lender's Security. It Boffimet f,lllm It, +r,furnl Ill( 'ovellalli,
<br />Mortgage, or if any action or proceeding Is curumencc +l wh h materially atlrsts t endcl w ntere,t ,n the Property.
<br />,I n+; .,p�rcc•mt•�ity ,. r,,t,ll,,c•d ill Ita,�
<br />bankrupt blot not hnli lle to, l)def eel duftlaltl, Itt,cllyt.'fliy tah.l e' rn limit elltt'llt, or ;arl:,tlPcIIl('W, •I I,; yCr; ` {Iltky intt,ll llljg a
<br />barikrlipt ur J "t.cdtnL there !ender at I ends is u t +
<br />I (l(.Il, Illyt,ll rt,ll,,' r„ fill( r.:+ss
<br />+unis and take such ac.c,, ia.m I$ n"e- o+mary ill pr+,Iett Lenders inlclt'sl,
<br />reasonable atlurnt fees and fill (intuit t I� +n�rt,i t�,
<br />y ,,pun file I'It+pcltt to nI,IRc ict�,ur. +I,,bl,Ittlutnl ,I
<br />n,.fltiun t�f rn,ekrtlg rht Inarl ,Clled hp
<br />mil odor 9nt (" iii u 7
<br />Ifr+_t ;;ill +I ,u .11 flint .r, 'tic !l qt ! e err
<br />illc,ilt'r�! (+,I
<br />N, i ,sir •ui,±
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