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<br />~~.,~t~G050J
<br />UNIFORtrr COYENnn+7•s. Borrower-and Lender revenant. and agree,as_follows: - - - - ~_
<br />- 1. -Payment: of Prlnctpal•asd Interest. -Borrower-shall premp{ly pay-when .due the-principal of and; interest on the
<br />indebtedness evtdeetced.by the.NMe, prepayment-rod late charges-as provided in the Note, attd- the: principal of and interest
<br />on any Future Advancesg secured by this Mortgage: - -
<br />Z. Funds.forTaaes and Insurance. SubJe¢t-tv applicable law ar to a.wriuen waiver by Lender, Borrower shall pay
<br />to Lettderon the dxy~month3y-installments ?t principal and interest are payable urtd¢r:ThcNofe. unfit the`NOtc is paid in full,
<br />a.auin {herein "Funds")..equal- ta- one-twelfth of ihe}•early- taxes and-assessments.~which tray attain priority over this
<br />Mortgage, and ground. rents. nn the Property, if any, puts-'one-tweifth'nf ~yearly.premitrm-installments-for hazard insurance,
<br />plus=one-twelfth-of-y-natt•ly-premium instahr'nentsfor-ritvrtgage iris,uranci; iF'.any, all as reasonab[d estimated initially and from
<br />time-to time by Lender on the basis of-assessments and.bills--and reasonatiic:estimazes.thereof.
<br />The Funds-shad be held in an institution the deposits cir accounts af -whtchare insured oe;guarahte¢dby a Federal or
<br />state agency tineludingi.,euder if Lender is such as iasiituti6n). Lender shaikappty-ilte.Fnnds~'tvpay said taxes, assessments,
<br />insurance premiums and gronnd rents- Lender may no[.charge for snhalding and--.applyingthe-Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest:on theFpnds and applicabl¢.law
<br />permits-Lender to make such a charge. Borrower and .Lender may-agree.in-si•riting:.at-thd-time. of execution of this
<br />Mortgage Ihnt interest vn the Funds shall be paid to Borrower, and. ostlers such agreeinenr~ is- trade or applicahle law
<br />requires arch inieresx to be paid, Lender shall not be required to pay Harrower-any interest or earnings do Ih~ Funds. Lender
<br />shalt give. to Borrower, without charge, an annual accouming of ttie Funds sliawing:credits and debits-to the Funds artd the
<br />purpose far which each debit to the Funds was made. ~Ilte Funds are pledged-as additional'security for-the =runts seeiired
<br />by this Mortgage. - - - ,
<br />If the amount of the Funds held byt,end¢r, together with the future monthly Instalimenu~af Funds payahle poorer
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required'to payaaid'tazes;.: ;
<br />assessments, insurance premiums and ground rents as they fall due.. such excessshall be,-at.Borrower`s-.option, either---
<br />pramptly repaid. to Borrower or credited to Harrower on monthly installments- of Funds. If the--amount: df the. Fupdss
<br />held by Lender shalt not be sutTicient to pay taxes. assessments. insurance premiums and ground-rents-asxhey fall due,
<br />Borrower shall pay to Lender any amount necessary to make up the defidencv within 30 days from the date notice-is inailtit3-..-- .
<br />by Lender to Harrower requesting payment thereof. - -
<br />Upon-payment in felt of all sums secured by the Rlcxngagc, Lender shall promptly refund. to Burrower any-, Funds: -:
<br />held by Lender, tf ender paragraph 1 H hereof the Property is said ar the Property is otherwise acquired by Lender; Lender
<br />shall apply, no later than immediately prior to the ,ale of titz Propcm~ nr its acquisition by Lender; any Funds -herd--ley..
<br />Lender at the time of application as a credit against the sums secured by this Mortgage, - -
<br />3. Application aF Payments. Ltnless applicable -law provides nthenvise. all payments received-by Lender undecth8:
<br />Uate and paragraphs i and 2 hereof shall l±e spplied 6y i_ender first m puym¢nt of umoumspayahle to-Lender by -Borrower -
<br />under paragraph Z hereof, then to interest payabic on the \ote. thin tv th¢ principal of the Note, and. this tv interest and -
<br />pnn¢ipai on any Future Advances. -
<br />A, Charges: Gear, Harrower shun pay all utxzs, :LSSCS.mtenr and other charges, hoes sod impnsitiuns attributable to
<br />the Pmperty which may attain a priority over ties tiongage.:utd leasehold payments or ground rents, if any, in the manner - -
<br />provided under paragraph '_ hereof ur, iC not patd m such manner, by B+arrower making payment. when due, directly `to-the- -
<br />payee thereof. Borrower shall-pzompdy furnish to Lender all noucis at amounts dui under this paragraph, and in the event
<br />Borrower-shalt make payment drrt2'tiv, I3ormwer shall prumpNy furms6 u; Ixndzr rtrcipts evidencing such payments.
<br />Borrower shalt promptly discharge any "lien which has priority m.cr this Mortgage; provided, that Borrower- shall nut be
<br />required to discharge any such lien so long au Barrow-er snail agrez to +cri[utg to the payment of the obligation secured by
<br />such: ilea in a manner acceptable to Lender ar shall in good faith contest such lien bs^, or tic end intorcemert of such lien in,
<br />regal proceedings which operate iu prevent the enfarccment of the lien ar Carfeiture of the Property or auy part thereof.
<br />5. Huard Insurance. Borrower shall kce~p the unprovemcnts raw i:+asting or her¢alter erceted un the Property insured
<br />against lass by Rte. haz8rcLs included w¢htn th¢ term "extended awcrage°, and such other hazards as lender may r¢quir¢
<br />and in such xmvunts aril for such periods as Lender ma}~ reywre_ provided. that Lender shall nut require that the amount of
<br />such coverage esce~ that amount of carirage requrr¢d to pay the cons secured by this Mangage.
<br />The insurancE cattier providing tta¢ insurance shall he rhos¢n by Bomnv¢r subject to approver hp Lender; provided,
<br />that such-approval shall not be urtreasanabty arithhild. :11i p.=croons on insurance policies shall he paid in the manner
<br />provided under paragraph Z n¢reaf ur. tf not paid in such manner, t+y Horraw¢r making pa}•rnent, when due, direcfly tv the
<br />insurance carrier.
<br />A71 insurance potterer and renewsis [hcreat shalt tx: in farm acceptable ut Leudcr and shall include a standard r.;ortgage
<br />rialto in fever of and in farm aecaptabt¢ tti~ tender. Lender she!': have the right to hold the policies and renewals thereof.
<br />and Borrower shall pnrompdv furnish to Lender nit renzwal nouces and aft receipts of paid promiunu. In the ¢vent of loss,-
<br />Harrower shall give prompt nonce to the insurance earner and Lender. Lc_uler muy male proof of loss if cot made promptly
<br />by Harrower.
<br />Unless fender and Borrower oiherwrsc agree in writing. insurance proceeds shall bi applied m restoration or repair of
<br />the Property damaged, pravitlcd such resturauon ar rrpatr is tcununtiesdi}' tissibie sod the security of this Mortgage is
<br />oat thereby impaired. If stun resturauen ur report is not et:unumirally icasihle ur if the security of this Mortgage would
<br />be impaired, the insurance proceeds shah be applied to lire sums secured b} this Martgag¢, with the ¢xcess, if any, paid
<br />to Barrowez. If the Property is abandoned hr Horrowir, ar it Harrc±wer tails to reslwnd to Lender within 30 days from the
<br />date notice is mailed ta5' Lender tit Borraurer that [ne rnsurancc c;urier a0en to settle :t claim for iosurancebenefits, Lender
<br />i> authorized tv.coitect and apply tht insurance proceeds at i_cnder's option either to risturatiatt or repair of [he Property
<br />ar is the sums secuued by this Mortgage.
<br />Utdess L¢ttd¢r and $arrower otherwise ugrcc in wvuing, sole such appficstian +,tf pmieeds to principa! shall not extend
<br />oz postpone the due dace of the monthly installments ret¢rrcd to in paragraphs ;and 2 h¢reut or change the amount of
<br />such instalitncnts. if undor paragraph 18 hereof the PrupertY is acyuned try Linder, atl right, title and interest of Borrower
<br />in and 4a any ittsurattce policies and in and to the proceeds therzvf resulting Irom damage to the Fropzrty prior to tfie sate
<br />oz acquisition shall pass to Lender to the cuint of ttsc runts secured by this ;`tungage mtmediatety prior io such sate or
<br />aCgliiilttan,
<br />6. Preservattan and Vtalntenance of Propert}: Leaseha{ds; Condominiums; Planned Unit t)evelapments. Berrawer
<br />shat!-kr-ep ilae Properly in goad repair and shall ttat commit waste or permit mtpmnnent ar deteriaratia^ of the Property
<br />acid shall camp!}' with the provisions of any fe-ase if thu .ttortgaga cg on a leasehold, I( this 6lortgagi is an :t unit in a
<br />eaudutninium ar a pianncd.unit deveioprn¢nt, Borrower shat! perform tilt of Borrower's ohhgations corder the dcclsratioa
<br />ar wvcnanss creaeng ar governing the evndamvaium yr ptanued ,,tort ilavel~yrmznt, the by-taws and rogulafions of the
<br />e'o`adoxttiainm.ar. plaitnad unit dev¢Iopmeni, .end etmstittecnt documents. II a cnndtaminium ar pltimted untt :fiv¢lupmcttt
<br />rtdrr'-iseecus>rd ity Harrower and r¢carded together wuh this Mortgage, the covenants and agreements of such ndcr
<br />shalt. btiocnrpotetedtnto anti.ahall amcad and supplirnent t#aC covenants and agreements of thts Mortgage tt_s ,f the rider
<br />vrve a tort: hetecf... ~ - -
<br />7. Ptwtectimn-uf F,ende~a SuearIty. if Harrower lads- to p¢rkxm the ectvcnantc and agreements .~mtanted to this
<br />hforiSaNte. a; t`f any uction ar procctiairag is u?mmenctd whf¢h ntatraialty aiTea s Lender :x aueresr in th¢ Prupeny,
<br />utzltidintp,-,tnu nW-Gtnkted ta, ¢minent dittTtarn. utaalv<Kruv- c,rde erttorbem>'nt. c+r ttrrang¢ments cx ptcu -Ylings i~nt 1 ing u
<br />Mwipnipt ar dacc+ctent, thrd Lrtader of Letttlcr s upttun_ npr n orrice t,t Barrerwtir, may s+takz such appears ocea. d;xbunr. such
<br />stzunt. tkrXt ialee auaft at-t~.t as rs n+z~~~tsary to ps~ot¢t~t t,enckr•a rnicrast. tnciuding, bets not 6tmted te, dsburvcm¢nl c,t
<br />rttawima8ia attarnAy'&-tees atsd. entry upon ti+e Yrvprny to ntakr repairs. 16 I_etader rouutnd ~re,rtgag¢ irasurancc as a
<br />r"ra~c#Ftaitt of ensk{ng tt+e toatt recur-e<i by thiS.Mon{(ago, I3rrrrower stroll pay- thy- rat'<mmnt+ eycdrud ze ;nainfatn ,uric
<br />iua+:fttttea Yo cffCt3 ttnt'il st»h [me as rltst rigtdretrt¢nt Stu such rtssuraote terminates tit acxrdattae avtth Itr?n's,wer's and
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