|
<br />8:3-003372
<br />
<br />UmFORM COVENANTS. Borrower :md Lender .zovenan! and agree as lollows:
<br />I. I:'lq t 01; Priudpai lIri Jm~rest. BOITo"W-er ,hall promptly pay when due the l'rmcipal of and inlcre<<! ,on Ihe
<br />indebt~, . prepayment cand lale charges as provided in the NOle, and the prinupal of anu ulleres!
<br />litis D..'"et!" of Tr"'t.
<br />. I 10 applkahle law <J( to a written waiver by Lender. Borrower ~ball pay
<br />. ferest are payable llnder lh<: Note, untIl the Nore IS paid 111 lllll.
<br />the yearly ta~es :lnd "sS<'s'm~nIS which m:,y aHa!.. pnoriry over this
<br />;:;ny, pillS one-twelfth of ycarly premium installment< ror hnzard insurance,
<br />martgagc in,umnce, If ;lllY. aU ;IS re;(s()oably es,iro"tcd iml'~lly and from
<br />llnd rulls IInd rea~(>nabk~ e"timatcs ,trn."rwf.
<br />of whidr arc ,nsmed or guaralllced OJ' " Federal or
<br />"hall apply lhe F\lI1<l~ HI pay Sl>id taxes, as<.?"mcnls,
<br />for~" h<ll<lll'lg and ;,ppiying the Film!:"" analYling 'i~"J 'account
<br />Bortower mlcre'l >:'11 the Fund, and ap"!!"lblc ill,,"
<br />"grec HI ,;I the lll'l'le ('~~Ct;!i"fl of ,lhis
<br />and !ll1les~ ,w.:h or applicahle'law
<br />;lltV !fl!ere<! "r Fllrl<!'. Lcnder
<br />,how{n~ lInd Funds ;,mu 11l()
<br />pledged a~ sums se~ured
<br />
<br />
<br />ptl'l"l'l)its .
<br />~<Jo:(.l'fU$llhll't il'lt~r~
<br />~UI~ 1>ltC~; ."teresl lobe
<br />shallll'l\'C to B!'>ffo\V'er.
<br />pu~for wl'lieheaeh ~bi! 10
<br />~y Ilus ~4 of
<br />If the !he FUlIds held by telldler, li'gelhCf ""llh Illc /'uWr" monthly of Fu!"!>:,!,; payahle pn,'r 10
<br />the dtl'l dal(ljl !;iXes;. (lS;scil:$melll,<;, "'l.Sl.lr;(m~{, ,.md gH'ural nmu, shaH . the amrllHHn:q""cd '0 p.IY s:ud !"'c',
<br />.II~mel'ltll, 111l~UnmC~ ;)rem,ums and renb .)S, lh<",!uc, ,ud) t;~('e,,, he, ;l! op/ion. either
<br />prmnptly !Xll)lIid !o!klffower or crt-dirrd h" Bnnnw<,r 1m .. mSlallmenls nl If ClmO!llll "f 111(, F\Jnd~
<br />ildd hy Len"ter~h~H !'lot he.~uth(:u:tm 10 pay 1"Ull:OS ;..~'e,'ll'~/'ll~. j11"l,'I11Il'lTI' and ground reM, ii, Ihey fall due.
<br />Borrower sh:dl p.ay Hl Lend~r :,oy amoun! r\l)>,e.$SIHY' ({, !ml~A" lip Ih~. delkH~r>CY w.llurl \0 daY' from Ihe dale nM1CC lS mmled
<br />by tender fl1l I!Iarr("I"\l>'er reqtlllSt'fll,l ''tll.ymem !hereoof
<br />Upon p<~ymenl It! (1111 'It lill ",..ms ~ecl<rcd Ihls r),~ed "I 1'1"11", l,cmicr "hail
<br />held by L.~ndl.'" II ander ,p"fll.gn~ph III -'crect 1\ ,,,ld i,1 lhl' Pmpt'rlV "
<br />shllll apply. no later dl>l!'l immedl,ueilr lhe rb(l or ",
<br />L,:muc:l' lit lh~, rilme of applk..tlOll ;,,, II ~lo\llinSl Ihe ""In" 'ecllred O"",j
<br />J.""lic~liml of Pa,y_nl5. Unl.:" I,pp~"'abk J;.w ,'NH!c" ;!l1
<br />N,>le ~n..J Pll.l":Jlllf:il'h, land 1 ner<:cI shall be hv ""dcl
<br />under 1'1lf'4l:ra;,h '1 heroof, t/)cn to mte!~~l on lht~ No!,'. then
<br />pnnelpal .m llllV J;tIlul'e :'\.lvafK'cs.
<br />4'.. (,..~; {~"~ B,()rrn'iI\"(~f "dl-at! ;,l~lV :ttl r,),~~\~ ;'~Sf:"'in;("n\'" "Hiel lfht.',f .,h.aff;tC.\. till~~\ ~~nd ItllppfdUUn'l; ,l.tlrJOUl.\bk 'Itl
<br />tile Property wlncn 111ilV illh\1l1 " PflQl'IlY over ,hIS f),:ed dIn,,,! ;Hld k01sehQI,j ranncl1Is l>r ground n:nl't lf any. in the
<br />1ll1Ulner provlldl~d mliler 11iill.tllllraph 2 hereof or. if i1;l! "" ,,,<"11 Hl~m'l';'. h'i Il,orro"'t:l m.lku'g p'lYmenl. when due, dITe,:tly
<br />lQ the pll'1l'l\e th'Ne(.1 !k)HI)WC! "hall I '''Hkr ..ii 'H'I....'" III "mfhtllb duc Ilndcl !h,~ pal"~raph, ;jnd in the
<br />J:\I'Clll 801m,...,. .haO make p~"lfICl.. i on",h I elHk! ('vhkn"l!!: "Kh paymenls
<br />Borrower 5n~jt ;~n' '\t":d ! IU'q t}j,lt Hnfr;'<"./jil'f ",hat! n(',t ht~
<br />t''equHed h.) ,Iny Hh.:h ~" ~h{' ;',I~'nH~r:f S'.~l.'urt.:d b\
<br />"5uch ;~'en Ul a il\anne-Jr ..H;~'i;e')l.LiltJ1e 1 ~ndeL tit Sb~li; ,;.-'oHd ,{'n!<;:';,'I'! dch~nd ,,'lra'ni' fit ',\ft.,h lH:n If;,
<br />legal prHcC'Cdu'ig, \....hK.h ",lpera.fe tp ;In.~H':'r.H ,1t1{' 1.'n!ntt-Cfnr.~fP ~.ht !;,,~n ,,'r' !nltjrl~" d ;;H\ ;'.:tn there'of.
<br />5,~ IIhlnl hl_~" HOfroVII'cr keep {he dnprO\-{.'tnt'iH!> ;}nVt' c'<,"i,tml~ ~),t:'H\l~tt~r l~r('t:h~d ~h(~ P1PPt,,;f'ty trl!HHt:d
<br />.it:l,;a,ltlSC to~, by tire" hi1tlJiHU:'\ u,dude-o \\"JthH1 ~he ','~,h,~ndt;'T ' .:n'ef.H~f I '^f,;dff !Hay lt~1,1lHrt'
<br />and H1 ;';HC:f,: amount:\, ,PlO l~tlt,h )ha~ 1 a~rh'ltHH Ol
<br />1u\:h "':t):ye'f,lg1~ i~'t.,'r't;f(J !h.;.\~ ;tnH~Hnt ,:tf \'nv\"t~~~y
<br />f'hc [nJ,ur,1JHt;.'-'~' I P-~('\11,hHg {ht:
<br />that 'Siucr. fl,PI)uJ~,'al "b~lj t\l'..i't ;\t:~ tHH c.ats(,ln~lf'h" Ithht:hj
<br />pr.oYlded under 1_lal!~tllpl:l herc,'! \It. ,t W.! 1'",,1
<br />il:llIUraft,"'l:~lIl~'I,
<br />.A..U Hi~unJ;I'n,;(.-" ~,>t.,!liH..U;~:\ ,Hh.j i '\~nt''IN.:.h
<br />t.:IJUJ)( Ul ~':$J~<:)r ~)I' ;a,n_:l ~,HfU
<br />'11111 !kH'...",cr ,h,dl pi nmrJ!l~
<br />lk'llt..l"-"c' ~hall !,:I~~ p"ompl
<br />by l:ltmQWCI
<br />t:'ll,e~,,, l~nJc' ",,,l
<br />tbe: P('Jpel't~ d:.Hni$!;n~t
<br />n.ul
<br />be
<br />IQ Bonow"f the
<br />~t'( n'\'>{h.:'~~ 1':\ lUddt'l.l h\;
<br />(l'j, oliiut.h'(,H' f,lJ;,Ni I(') . ;.::u~~
<br />~'l{ h) the sum;.; M"lo.:1,il("lii t h.~
<br />Uute.>> L~:i:rdei' ,:'U$1.:i
<br />titk: ~ju<;; da!~:
<br />if lHh.'1er
<br />p(} th;' t t~.
<br />l.<:ndcr
<br />
<br />rClltndl" Bormwer any Fund,
<br />;;'<ll.arcd by l.cndcr, I,coder
<br />fw ! Crider :my F"!lll~ held hy
<br />
<br />
<br />,,~t"lvell bv l.l,mler under the
<br />L I ! ,'mlel' hy Borrower
<br />.md rhen to mleresl 'lOd
<br />
<br />
<br />Ii! rhe
<br />
<br />
<br />nf h,,\
<br />
<br />prurn_pi:iy
<br />
<br />\0 aad I'> ';Ut)
<br />
<br />'$haO p,;:~~::-
<br />
<br />(J'(
<br />
<br />
|