|
<br />I
<br />
<br />..
<br />
<br />UtlIPOR..M COVENANTS'. Borrower and Lender covenant and agree as follows:
<br />1. ~ 01 PriDclpIoI_ blterest. Borwwer shall promplly pay when due Ihe principal of and interest on the
<br />indebtednct4t evidenced by the Nole, prepaymenl and late charges as provided in the NOle, and Ihe principill of and interest
<br />on any Future Advances. secured by this Mortgage,
<br />1. FulItls 1M Tn."""............., Subject 10 applicable law or to a wrillen waiver by Lender, Borrower shall pay
<br />10 Lender on tile <lay monthlY instaUments ofprinc.pal and interest are payable under the NOle, until the Note is paid in full,
<br />&- sum' (berein-- '-<P-undS.') - equal to one~tweUth of the yearly taxes and assessment';. which may attain: priority over - this
<br />MortllllB",and ground ""'Ill on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus one-t_lfth of yCMIy. premium installmenls tor mortgage insurance, if any, an as rea'iOnablyestimaled initially and.from'
<br />time to time by Lettder on the basis of .5Se!iSments ,md bills and reasonable ..Ii mates thereof,
<br />The Fun.a shall he held in an institution thc deposits or .ceoun!! of which are insured or guaranteed by a Federal or
<br />stale agency (including Lender if Lende~ "such an institution), Lender shall apply the Funds to pay said ta~es, assessments,
<br />insurance pnomlutn$ and ground renls, Lender may nN charge lor 'iO holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments- and bills. unte."is lender pays Borrowec interest on the Funds and. appli.~able_ law
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution 'of this
<br />.Mon,.ge that. interest on the Funds shaH be. paid to Borrower. and unless such agreement is made or applicable law
<br />requires such .interest to he pajd, Lender shat! not he requjred to pay Borrower ,,-oy interest or e.lmings. on the Funds. . Lender
<br />s.hall give,lo Borrower, without c-harge. an .annual au:ouoting of the Funds showing credits and debits to the Funds and the
<br />pu-rpose for which each debit to tbe Funds was made. The Funds are pledged a~ additional security for the sums secured
<br />by this Mortgage,
<br />If the amount of the Funds held' by Lender. together with the future monthly Installments of Funds payable prior to
<br />the due dates of ta~C$, aSs.e5.:iments. !Il$uranc~ premiums ;:!od ground rents. ~hail exceed the amount required to pay said taxes.
<br />a:seuments., uuur-ance premiums-- and ground rcnt5i J~ they fall due. :Sll(~h CXlCCliS ~h3H be. ~l( Borrower's option. either
<br />promptly repaid to Borrower or credited to B\}fft)wer -on monthly lnsrailme.nls of Fund:'>. If the amount of the Funds
<br />held by lender man not be sufficient to pay taxes. as.\essmems. ins,unm>:t~ premmm.. and ground rents as they fall due.
<br />Borrower sball pay to lender an)' nmoufH nec-Cs$-ary !('l make tip the d~ficicncy within 30 day:,. from the dale notice is mailed
<br />by Leader to Borrower reqlJe$-ung payment tht:reot
<br />Upon payment In fuU of aU sums secured by th[5, _\.10r-tg4gC. Lender -.;hall promptly n::-iund to Borrower any Funds
<br />held by Lender. If under paragraph 18- hereof lhc Propert:,{ I" \>.old or the Pcoper-ty IS- otherwi~e acqlllred by Lender. Lender
<br />sh.all apply.. no later than imrnedia.u:!y prtor tn lhe "-ale ,.If the Propert} or tis ,H.:qUlsnion by Lender, any Funds held by
<br />Lender at the time of application as a ucdit agall1S.t the j,um." s.ecured hy rhts Mortgage.
<br />3. AppUclltion of P.ymnm.. Unk"s apphcable bw pn)\ tdc~ ~~lh\~n"'-;~c, all payment+; fC\."dved by Lender under the
<br />Note Olod patagraptn j and 2 hereof ,h.ail be apphcu by I crh..kr hi"t In p>l)'mCtH ,1j am0unt-s payable to tender by Borrower
<br />under paragraph 2: bereai'. lhen to 1OIcre:'it pa)'abic on Iht.' ~('IC, !ht'11 h1 thl' rnn~ipal of the Note. and then to interest and
<br />pri:nclpal on an)" Future Ad\>anc-e~.
<br />4. Charaa; l.JeM.. Borro\\.c:r ...h.dl paj ..Ii 1;t:\C-'>-. ....-.'i.c'!o'lt'u..nl\ and plht:r dl;tr~c"" 'bes JO\i jOlp(l~iflOnS attributable to
<br />the: Property which may attain .a. pnl1-nty (wer thiS MOrlsaRC. ilnd lca~h()ld payments tlf ground rent,:;. if any, in the manner
<br />provKkd under parugraph ::: hereof or. {f fhlt p,ud In 'iUi.:h manner. l~y Borrower lllilKmg payment. when due. directly to the
<br />pa~ thereat. Bo-rrow-er mall promptly turnf\-h to Lend~f .1-11 flOHCC\ of amounh Jue under thIS paragraph. and in the e....ent
<br />8ocrow-cr ~MU t'uake payment dm,~ctiy. 8urnw.a "h;lU prompt!)" fllrnil<>h h) L~fHkr fC'.,:cipl'5 l':\'idencmg such payments.
<br />Borro""er shaH prompdy tliS>.~barge an}' hen ~ru~;h ha.\ pfJ('fft)' (>ver fh:.; Mofti/:i1ge. provl.kd. that Borrower shall not be
<br />requin..>d to discharge an)' ~uch lien ",~l long ;1J: Borrower shall. J:~n:c Hi ,QHH1-g 1.0 the payment \,)! tht: l)bhgatil..ltl secured by
<br />sucb hem tn a man.ner acceptable w Lender, or ..hall In &\'\.1\i {~ilh ..\Hlh,'",( "m:h licn hy. or defend l.'ot'\ltI:cment oi ~ui.'h lien ill.
<br />~ p.ro.:ee<lmp which opcnu:e to prenOi the cnh!h.'-t1.T:~fii \,.f th~ her; ;~r f~}.h:-:h~f~ d !h~ Pn~pe!'ty '.:'! ~n~ pa!'{ thereof.
<br />5. Hazant l~". .lk;rrowl:r ,haH keep the lmpr-pn;mc-m.., ntl'" c'\htmg or hl::fi;,atter crc-.;.:ted on the Pn)pt.~r1Y Insured
<br />a.~ lon by fire. haza:-d1 included ',qtftm the {,nm '-""'fr.'oded ,,-I'Vt:'Dgc .md ~Hl.:h olher hal.ards. as 1 cn-Jcr may reqUire
<br />and in ~h amounts and f,lf \u>;h pennd'), ~h L-e-adet UM} f\;4tHn:; rH-t1\-ll..1ed. that l.cnJ~r ."hall not require (h~'t the lWlounl (If
<br />such CQI,-eragc el~'t'Cd that amQunt I)t ,-'..:!\.-~rag\' r<qwr(;d to p:.tv lhe ~\lm"- 'u.'i.:lln:d hv lhl!!. Moftg~'gc.
<br />The tMUfoUk.."'e c~rief' ploYiding tne m~iJr.Hh;c :'I-hali he ..h~l'i,Cn b~ BDffOWCI ..ub}C-l.:i to approval hy Lender; provided.
<br />(hat such approval ~hall not be unrea.,..uflabl)' withheld. :\U pfCmltim~ tlt} iH'S-Ur-.Ul,t polk,ie's shall he paid in the manner
<br />PfU\'ided under paraarapU 1 h.er~(.)t ('1-[. d nut pi'liJ Ul 'lIu;..;h m~uWcr. t'l, Bl1f1o\.\er makmg payment, when due. dtrec-tly to the
<br />iElSW"aDCC- \.':arrlCf,
<br />AU iMufart("C: polictC\ an'" rene\\-ah. th-ef~,}t 'l.lqll he III fnrru <.il.:..;t:rli.\bl~ to Lender .md shall lIldudc .1 ..tami:dni mortgage
<br />d~H In fa,,'(..1f of and tn form lh::l,'C-Ph.hle h) LClb.kl'. l.cHl.kr ..it;:d! have the nght hl htlld the ~)()iides ,tnJ rencwah thereof.
<br />omd 80n0wc-r shaH pl'OfUpdy (UInu.n ({l l.end.er aU ftncw.d n(\1I1,."O:, alld ~\II n.~~elpt!i 1..11' p.ud p-remium.... J n ch(' Cy\.'nt 01 l(}~s.
<br />Borrow.:r liliaH gw(: pf\'~'mpt noll<< to the: H}HI!.Uli,:..: .:afllcr ,IUJ L~nJeL I.ender !l1a} Ol4l.le pWt\f of l()~:-i It nOl made promptly
<br />by' Btlfrow~L
<br />Unl-cst l_ender and B<)ffO'1l\'('.f olh<'rWt~ ag.rf,.-"(: In wfltltlg. in~urall...,; pf,-x,,,;,cd~ ~hall b(~ apphed tQ res.toration or repair of
<br />lM Property damapJ. pft.tvlJed ).U\:h n:,.toUlH.H) Of n:patf IS t'c\.Hl(l{nh:JIl~' l~;.htbk ,tlld (ht.~ :'l<-c(urit)' of this Mortgage 1\
<br />not I~}' imp&u,!d. It s~b re~t()l.~tI~)n (l1' repitir l-il l!(\! c":l~l1{,lIlu..':tlly t~a~lhlc: Of ii the ~i.:;Ufl(Y of thu, Mortgage wnuld
<br />be: unpaired. the It'ti-UfIUlCt: pn.)t,,,-eeds :r.haH ~, ~ppheJ h:; the Mun~ s.e.:ureJ P)- th!s Mongagc. \\-Hh the c),c\tss. if ,lOy. paid
<br />to Bor-row-cr. U tbe Property is aoondmlbi hy &:.1froV.Cr, \If II BQrrn",er !ail~ 1\.\ re~p()nd h.1 Lender wlthlO 30 day~ from lht:-
<br />date- ttotit..--c i$ mailed by L-ernkJ' h.'} Borro\\oe.f ~ha1 ~he in;sur~n.;e ":.H.ncr otlers 1l) scuk ,t chum for in~urance benefits, Lender
<br />is- authorized 1Q coUect' and apply [he, mwran":,e pn:~ <1t Lcnder\. l'\pri()il eHhcr to r~to-falkHi Of repair of the Property
<br />or Ie the .i1UUi w-:.u!ea h)' this Mortpgt
<br />Unlc$s. Lemkr and Borrower O[bery.'l~ agree In \\Ohns. <.to) ~u('h appli.::adon (If procced~ to prtOCJpal shall not extend
<br />~if postpone 1M due dale (...f the monthly in~a.um('nt" referred 1~1 in p.\f';lgraph-s 1 ~nd 2 hef~o( or ~hange the amount of
<br />~ J;NtaUmenb. If undef pala&r.aph 18- hereof the Pro-petl~ 1$ iilC~\nf~ h> Lender, J.li ngh-l, title and inh:rest ot Borrowc.r
<br />in and to any ItllJUlatN."'e pQlicia- aud in auU tv the proc4-~ the-n.~,)t res.ulting irom damage: to the Propert) prior \0 {he .sale
<br />Of" a~ticn s.hlll pati to lender to the e~H::nt Li1 the. ...mm ~ur-et.i- by [hi~ Mortgage unmwiatcly pnor ill "l..l\';h s.;.llc 01
<br />~.6. ~"""~.., of 1'tope..,:L-ooloh; COJJ<ioJIliDi"ms; Planned lJllil Denlopmeo'" !lorrower
<br />shall keep. the Property in 8uoG. repair and shall not commit "-'.itJi.le (lr permit impairment or delerioral,i~)n of the Property
<br />&Rd-~.~ with the. plO\'tslOOS- of an)i ka.ic. if thi:!> Morlg~ t'l. on a li.,'asehold. If this Mortgage i.. on ~l unit in a
<br />~um" Qt' a planned unit deve~n(. BorT'i)\\-i.'r ~han perform :.\.U t'{ 8orrn'\o\-Cr's obhgation~ um.icr the dc-ciaralll.,ltl
<br />or. ~ e.f:C4i.ina or go'W'crmn, tOO ..:.tmdommium (~r pi..mn<d \-imt JC'o-elopfllt'nt. the hy,"la",~ I..no f(,,:gll!4ho.!n (}f the
<br />~ -0( ~ .unit "devdopuwrn., <4ld tUn!jc\itm,'m dOCUll1CHt"I If II .:onJomioium or planned BOll Je'i-~lopmenl
<br />~_ -q,- ~ by BottOW.et '..nd r<<ordcd t\]tcthct With th\!o ~h:ortlliigC. tht' (O"''t~n.ants auJ <lgret~m~-1'H'li of !i.uch rider
<br />...., be ,t~led liUf) and- Wil-ameod arid ~uppk~n( fhe Ct.,)-..cnantit an,,} ain:,!:m\')nl~ ot- thiS Mnrtsa~e a~ It the fide!
<br />__ ",pn: benlciof,
<br />,'C'. .... .. .....r":I~.. U Borrower faib to }'!et'form lhe cO-venanl~ :.\nd "gre-eIDentl ,-\ffit.\iiue,-j 1t1 {hi'i
<br />~~, ~- it -t', ~,Ok pr~i..... _ I-i c(.\fn~.~d \to'hkh, nUIlt:,rwly aff'eC-l$ Lt:nJer's. llUete~t in l'he Pn~pe-l1y.
<br />~ .blft, not,)D~li"" ro., emi-~ donMitl. i-n!R'llvc.:(w;,'.,\ c,,1<k cn!orcenw-fl(, or afta'~selnenb \J1' l,):f{~'('edlllg~ lll,,-otvmg a
<br />~_'.'~ '.hoa, Uto4ef..t L~t''!i OpbUfi, Upml (mt-\~. to Borr~l-':i:f. m~~ male- !o-ud\_ a~'!lI:-ar:anc<l~. .J~"burse $ll\;h
<br />~ .~ ..'1UdJ- ~ h i.. ~WLf)' (0- prot~t t.etidtr'j. uu-eret,t, lHcit.;~tlg. but not IUllded h), dtwuf's-cment et'
<br />~ ~.. J.. ... ~ 'upotl t'be. Pt\JfJ(J:t.y to .m~ r~H~" If t,-'1'ldftr t~qu'reu mQnN.~ in!j;UU~h:~ ~~ .\
<br />~ M,_~ fM- ~ .~e9 by th~"M:Qrt,~.., tmU'\l'W.U ih-atl ray l!w: prc:n.l1tlfft~ rt"q'Ht~.d to maintllHl ~H\:h
<br />~.... W ~t Ufdit, .-UiCb t.ime as- d~ n;quU~i for. -Iuds !.m.utA~'.e ft'-rm.U~J!Iit'-" In .K-l,.-l.lrd3-ncc wit.h ~rftw.-cf'$. and
<br />
<br />83.....004716
<br />
<br />
|