|
<br />I
<br />
<br />83-n0516i
<br />
<br />r
<br />
<br />U~lrORM ('0\-1-:-'; -'\;-IT~_ ilorrnwer and l,cndcl ({\Venanf and :l!!Tee as follow:..'
<br />
<br />t. Pa)'ment of Principal and I"t("rest. H(lrrow~-r :-;hall prtHnpl1y pay when due the principal of and 101crc:st ~\1I the
<br />mdebledne~~ evidenced hy the N0H.'. prepayment and late {~harge" ,I" provided III the Nole. and the principal of and interest
<br />on a.,y Futun: Advance" ~I:ured hy thi~ \l(;rtgagc
<br />... Fnnds for Taxes and Insurant"t'. Suhject tel applkablc law or 10 a written waiver by Lender. Borrower shaH pay
<br />to Lender on the day rmmthJy in.,t::tllmenls of pnli.:ipal and inkrcst _are payahlc under the Note. until the Note is paid in full,
<br />a sum (herein "Funds"l t.'qual 1"'1 om~-twclfth of {h',: yearl~- law... and iiS"ie'iSmcnts which may attain priority over this
<br />Mortgage. ~md ground rents nn the Property. if any, plus one~tweJf{h \If yearly premium installments for hazard insurance,
<br />plus nne-t",eJf I of yearly premium inst;:lilnH.'.nB lor mDftgage insurance, if any. all as reasonably estimated initially and from
<br />time to time by Lender on the ha<;l<') of .iS~eSsm~nb and hill.. ;lnd n:HSOI1~lhJc t~stimates [hereof.
<br />The Funds shall he held ;n dO insti!lJti011 lfl(' dcpostt'i or d.:c,:.tunh of which are insured or guaranteed by a Federal- or
<br />~latc :.igcllcy (including Lender it Lender i" ...uch ;10 inst!tulhll1) Ll.'ndcr ~h3H apply the Funds to pay 'Said taxes, assessments,
<br />im.urance premiums and groHnd rl'm~, f ::-nder nnv pOl charr:l..' ("f :.t' 'wIding and applying the Funds, analyzing said account.
<br />or verifYlllg ;tOO compifing ;.:aid a...<;:cs-.;ments ,1nd hi!!" t1n!cs~ Lender pay~ Bo-rrower inferest on the Funds and applicable' law
<br />permits 1.ender [0 make ~u..::-h a ..;hargc, H.,"rfl.\wer .md Lenoer may agree in writlllg: at the tirlle of execution of this
<br />Mortgage th~l. inlcrc>;t \11\ the Fund\;. "hall he paid h' BprrnweL ~-jnd i1nh:~" 'iw:h agreement is made or apphcable'law
<br />requires such jrHen,"~1 tn he IMid. Lcndt~r "hall g(lt h~ r~qwred Itl P,1\' Borrower ;my interest {'f earnings on. the Funds, Lender
<br />"haJJ gi""t~ tn Borrower, \"ithour ,-'lurgt;, .11l dnf1UJ! ;I<-'C\)ilnling: ~lf the F'llrid.. ..howiog credits and debits to the Funds and the
<br />purp0se tor \vhi\.h e:n:h tlt-hil 1,1 the Funds ~~'.b 111:.dl..', The hmd... Me pledged ;1S additional security for the sums secured
<br />hy this \1orfgage
<br />If the .:Hnount of lhl: Funds held hy L.:nd(.'L /()getht'r Hl!h thl: lulurc monthly in...tallmcms of Funds payable prior to
<br />the due d,ales of !<I xc.'>. a:.....C:';:,fHcnh. iOSUrt~n(,'\.' prl'fl1ltl1lh ,'.Dd g.ruund lent>.;, :-.halJ exceed I'h~ ;imounr required 1O pay said taxes,
<br />aS5.cssmcnh. m!iollr~m('c premHi111\ 'lnJ gH'tund rent-; ,1... lhe\ I,lli ,-iu\.'. o.,w.:h. C'\\.'C:';'" "hall be. at Borrower's option, either
<br />prompt1y repiiid w Borw\1,c:r nr ~n.",'"(jlled III l:brr,-''.--\~r ,)!l n1Pl1fhlv ;n;'.ulJn:cnt~ lIt Fund)" Ii the ~lmount of the Funds
<br />held hy l..endc-r -;haH not he- :o.umcl.ent to pay U\es. ~tS-.~e""'m....nr-'i, m'\ur;;Occ prcmnllns and !!roood rents as they faH due,
<br />Borrower ~haH pay w Lt.::nder Ml~ ilmOUfH nete"'HlfY [t) make- up Ihe ddlcl~n..-:\- within 30 Jays from Ihe date notice is mailed
<br />by Lender to Hnl f0Wl.'.f requc:-.rmg p.a} m~m thert',--';
<br />Upon prt\'mcnI in foil dt all "wn\ .~cdln;J \.1;lrl.\!.u.1l.'. ! l.'tlu....r "halt pf1.lrnplly rdund to Borrower any Funds
<br />held h\' Ll'ndcL jJ Ilnrler 11;tra~raph L-- h':t;.'(l! ;h-c ;', ".,ld d dw Pr-,.'perl'-, I"> Dfhcnn"l." ai.:qUlre-d by Lender. Lender
<br />$haU :~pply, Ih,) L__Her th.:i1l 'Im~t;.'di'.:th:h ~rh.1l' I,' !ht: "~I the PtDDt'rlV ,--'r Iii .h.:qui.s-illon h\" I.ender. an\' Funds held by
<br />Lend(~r .11 '(he fHn~' ur ,~pphcJ.tlOn ,IS a Lrcdn ;l!.lilif',\! (h.c 'd,lln.... ~<."(tl1't..J h\ ~hf~ \h'!ngu!!l:.
<br />3. Applkadon of Payml'IUs. \.:n~t'~" ;,pp!j>.:J.bk i,l.'.\- 1'h'\ ,d..'), ,,!hlT\\i..t' ,111 pilymL'fJI~ n:(cived by Lender under the
<br />~otc .mo par~lgTaph\ 1 ctJ~d 2' hCfC'-.\{ ',h;d~ ;1P-rI1<.::u bv ! '~'lldl.'~ ;lr", ';1 r',l"1llt:nl I>! aml.)(lllt~ pay;dJlc t,) Lender by Borrower
<br />under paragraph ~ hac-pt. then lU inhctt'''( ;'lvahk' un ~rH': '\.,>!C Ihl'i1 !,' !hc f'~ln('!pal Ilr fhe :\ntc, ,md fhen In interest and
<br />prlllclpal on ,tHY Future .-\lhan'.--:c:.
<br />4. ('h.rge~; Li\"n~, H(,tfi;'.I.l;,
<br />the Propeny \-\--hl...<b may ,:n~)f! '.' ~1'f(':t!;.
<br />p-ro\'llied utll.kl' P>1f<tgwph ~ :"t"rnlf dr ; ";I!
<br />payee lht'rcof. BCif'(OWCf ...h,til pl'--'n\pd\
<br />UOtr-tH\'er ,lull mahl.: n...\-nH;,nl ~he..ii\__
<br />Burrov;cf ,,-!la.it j}fomp(h-- I.lb\...h.lfj:.<: ;jn~
<br />required tt! ~h~.,;h.lfg~' .-ilj~ '-U..:tl
<br />\ul;h h~n ill ;.; m,ilHl-Cf a':'..:q,t,1bH.: ;,' I cn<.h.'f
<br />legi.ii pnKl'l;olilg" whh.:h Ilp~f;t!l- l,' i~[:.'\,,"'ni ;.~
<br />5. HfI~Md l~uolUu". B~lHl;'''':; -,h,d ~":~T
<br />agam:st kl\'1 h\. tirt~__ h~U;1fJ) !h.h;J.:d
<br />~nd al :,>u...1l "If!\.JllHh .,lhi II': '-.,,--" j''-, "'d,,
<br />\.w:h ':o\'efi:tgl" <,;-\....<.'<..;j In,...~ .lrn'--ll'li ,.:
<br />lh~ lfl~U1itl-K't: >':.Hru;'J i'fP\-iJH1t
<br />!hQ.[ :'.Udi ,\ppr'\'\;ll ~h<1il Ih)l i, .') ;'-::.h.', ,1P;\ '.i! di\.Jd \,.
<br />prHvlued ltUJe-f p.ll~gr.!ph.2 hl.~l,\;j I,ll "",;]
<br />Hl\UnUK'e .:a.rfiCL
<br />AU in:.ur-.lIl':l' p..)ll~.](:" ..tid l\:'Jh:.~,\)...
<br />dau~c m favor ,)1 ~llid ,n I,-.nu
<br />a.nd B<Hfo;,\,cr ~h.lil pj,-,ml-';I~
<br />Jiorrpwel' shu.ll g;\c ['fl1mpl ;!~'li...--..: l,\
<br />hy BUrh}W~1 .-- .
<br />Unlesa. f.c:nJCI ;m.J fhlrl,'.'~I.:; .\;h:J.'\i~~' .l<':~~:\.
<br />the Proper!)' ..blll~gC.j, pl\'\hkJ --\n.j'! r(--'~"l'lk\
<br />BOllhcreb) ulIpj,ureJ II ~l,...i1 :<,'>,h'/L,h,'" ur "':;l);~" ;\ ". .
<br />be impaHed. the ;n~iH,-m..'C pl\r..;et.:,J", .,h.di b.;
<br />tn 8vrrow~L It the Phi~ll.} ;~ Llb.lfHj,\f\-.:d. h
<br />dare nOHcc IS nt.Hied. b\ Lcudet H..lfrV\\t;f
<br />is ~iUfh\1-rll.-cd to ,-,..!lie;;!" Jnd <1pph till.: i\l~ur,Ht-(; ~-.[,'':l'';:,h 1 <.'i"j~'f--" ')P1Hq~ ~l!b.<.'!
<br />or to the ~um\ -"c..:m.(;u t'ly ;his Mortgage
<br />Unles.:. Lender ~nd BOn\h\:t,'r ,--,thcn\ i>,l, \-\, ~-- ,lIn~.
<br />o-r pos.tpone. ltK \i\lC ddh,; t~t (he ;lh-"llhl:- rd":i ,~d fe' 1.1
<br />s~b in!>-hdit\1~t1[3. it under paf4gluph i~ hc,l;'v! th Ph:lpcn:- ;" ~'--'j;I!Ii:l.; 1.)\
<br />in .;too ro 3U} JInUfdJ'h:C pdiciQ ~wJ lt1 ~tnJ tu. Ill..' pr,,~~cJ,~ rht.'f(:;.'!
<br />Of acqui.)ltlQU ~hiiH pa.s,~ to L<:nJcl ;l' L.'lt t'\!t'nl "~! lhe "Ullh .H:....lIl-.:d ~c~
<br />acquisition.
<br />~ Prtk:.nalioa aad \lalilh".uaul.'l:: ili Pro-pertj; Lt'aM"lwld~ CotldominiulU!'I; Planned Lnt! I)en>!opmi:nb. Bmrov.('t"
<br />~H keep the 'Property in gu..xi tcp.ur ;.tno "h.dl m,\( Cumm!l '" ;t~\:; ur p(-wm !fUp,:unncrH J..)[ dCIl.:dorauon of the Property
<br />and .UlilU ~~)mply wHh the prOV$'il\")n~ of -'10) h:liI.'l.e !hh \h:--r!8,',;:g.-.: ':'. <1]1 cl. k.h<-'i'h,jJ it till'i .\hlngag.~ t'. on ,I una in ,1
<br />>;:nndominwm \}{ .~ planl1~d unit d..:';-'dlJ-pm...--nl, [kllf.n--\cr ~hijll pt:l ((lUll ,di '-'I H\.Hh1V,t:(:,; ,--"biigauolJ!J undcl !hl.;: Jt:dM~tl~.ln
<br />Of C{WemUH~ cn:~t1l1g or gO\'CCHillj; !h\: (PUdi.HJ11HiUm "I plLlnncJ "tHt dl'\\'lupmCnl, 1~jl,,: h:t.la\-\:<o. ;\fHJ r..;guJ,tlhW:> ,..f the
<br />\.:im-dommitull. or planMG ul1h de\:'c,lopm.r;;-JH. diiJ ("n~lilu~n!: dU'-liHJ(.nt.... Ii" ,.-,:Hld'"ninuJfli ,,1' planneJ illli! dc\cloPlllt:lI!
<br />n.du IS: ~AiC-CUle-d- by Bc-nower ,wo ;e,,,;vaieJ h,.g~fhcl 'A Ilh illl.,> MOHga~!.\ tilt:: ':O';'i:.:n~lfllS .IHJ ~\gfl;:l;llll:j1b. ,11 ,>-u~h fHJt'j
<br />~1 be UKOipofated lnt-O and'i>o.dH ann;:f1U .Hid ~,.lppl~m~nt lot; (.I-)\\::rh1-nl~ ;wJ ,ag,!;t:DK!II\ 1..\( ihls Mtntg~g~~ ,,\~ ii the 11<.1;:.:1
<br />were " p;trt hct<<>L
<br />'1. ProtiKtto. of f...eDdtr'lI Se-curit.)--. Ii Hf,rt'.)"'~e:f fllih h' the;; c,-'ven.me-. <11',,1 ;lgr{,{,f11cnI.!< ,,-,lnt;:unnl In lh]~
<br />MQn,~g.c. or if ~y acfion 1'1 PH:"IC-ecu.lng r~ ;;l.lmmeni:i:d m:i.!aiaHy ,~ne...:ts Lelhkt\ il1h:'tC:.t in ,hl~ Pfop\~r1\'.
<br />irwJudi.n!;. btH nQt hmitc4 to, r~mH'ir:nt ~ioma~ll, in:l.nh\'~KY. ....-i-lOe 1.: nil1n.'tJmenl. .J[ <iHangClrn,'flh 1.'. l-'r~1":'~;l:din!,:s !l1vohmg a
<br />hanklUpt fir .j~'cG.ent, ;:ilea !.-cfiUet ~1.J I entia'.,., I'pIH~;;, ,\\-,~,,-,t 1,' Borr(.'~'u ";l.n (;l.~k~ ~\...h -.lrp1:~,-r:j[IU."" .,h...r'w....: '\\h~h
<br />~um.'t .JM {A.k.~ '4udi- 4;:ti;;~n ~'io I~ Ht;",C%llMV h' ,nll,::H:sL ~'ul 1)\"\ hIH;t;.;d ,--hsJ:H,I.\"'IlH:n~ IC'
<br />f(:a~1naNe', f!HtJf4i.(:.f~ f~t,~ aU..! OlU, , ItJa; h.l l\h1.t,~ ~4:p..;~ --, "i\llt .Uh,:'; ,'~
<br />..HrmthJ.:'-~l i.\t ff-lamJ ~tw tOMt 'i;;:~iJr('t~ thi", ik,n'i."'>";,'; ~h;;:/; ll\.lin!.i;;! "-.ll-i h
<br />11,1:<i.;.)r.t.!'f,ct t~, ~.!fe<.t ;tnhl 'l,u,,-h tM'U{' <L~ f~K "~kh .,!l~.j,jJ"H'<l.' n"H\'">\\'.'r"" :!nd
<br />
<br />
<br />
<br />-'<..,"r~ \.-nh "d "\110 ,,-r1"'!-"'~, till>:' .l!Hl iDlp.hl!l{,nS ;junhutable to
<br />':~?" \1"ft...:<,~L' .t;J k',l'o\..:t>,-'i,1 i',\~'mi?n{' .'1 ;;hlt1nd rents_ if any, in the manner
<br />i'\ I'L;I!i"'~l.'i nJ;lklm: p;\~m\.'!ll, \\hcn due, dIrectly to the
<br />I<'tl\.'-'~ I 'I .\l~luutH\ dUt: uni.h.~[ t!,,~ p;1ra~raph. dnd in the event
<br />I ;.--nd<:r fl',,'r;,;IP\'" Vi'H.krh:1!lg "IKh payrnems.
<br />.\1"rq!.,!t~l;. iq~)\ I<k'd, lh;l! Bo! [\lwer ,hall not be
<br />lilr.: P;H'l\l":!l{ Dl !hl' ~,bll!--;atJ(ln .~tCCUfcd bv
<br />!wn :,~ ~ld\.':nd t'11l;lr'-'l.nll'~11 ~q ~u~:h lien I~,
<br />hn!~i\\j(~' d Itl!; 11['-'1J1I,'1t~ 1'1' :lllY pan lhcr~\.~I,
<br />!;\:h:,!lio l~!,:,-\\'~d ~11l !ht~ Pr11p;;:ny JnMlr~d
<br />>11h1.'1 ildl;l!d.. ~l'" l.<:mkl nlJ) rC<..IlIIre
<br />,--..h;r )l,d; n'H 1t'I.jHHC lhat !ht: ,~mount tIt
<br />\h;; ~:;':<l.~:;
<br />
<br />"..1"
<br />
<br />i;'h11;
<br />
<br />,<: ,,\
<br />
<br />li,)1
<br />
<br />\.;,,~t ,il;:l.h.ing p;l~lll\:nl
<br />
<br />h~ I.Clldt.:c pwvldeJ,
<br />h' Pdid HI th<;.~ IB<1nner
<br />\\ hell' dll~. dlr~\,'tly In lhe
<br />
<br />. ;1 I!!".tl.:il~''': pllLlU\:'>
<br />
<br />
<br />(v I .:i',dc: .!lid "'1!,1ii ;11. ltidl.;' ,I 'LllJd.il"d rnl)ngag~
<br />;iJ~lH '> l:,.iJ ,!It: 11\lillk" ,lll\~ ll'I1t,C,;'.,d" thl'r<:oi,
<br />;I: ,,--'..',:ip:~; (ll ;',,111 ~'lCllil;j~H" In [he \:\'cf11 \It /;\"",
<br />,-Ii,;, nLtk;: Pic';;! ~u:\). If il,!l l1kH.:k pr..-'Illpll)
<br />
<br />
<br />)'iP..,-'~,i... :-,h<\l; be i.' it.':>tl.'!j'.ith}n d!' r~p.\ir of
<br />'h'!llk,dh :t',l".:flk .wJ ~c~:lIri() ;If till" \10Itg;.lgC 10.;
<br />;:~',ll'-'Ji!''',l:;\' k;hi] k ,q d !tIt: :---.t:....:uid\ d 11ll:'> \fottg,<tgl:" \\'nl.lid
<br />"\ llh ~hc ~\.Ct:...,:;, ,t :my, paa.!
<br />i.'jl~kf I,\trhllJ JU ua)'~ lh)1ll the
<br />,l ~'Lllm I\Ji" dbULIlh.'1: bend!l", l.CIHk!
<br />It! r~~iuf.tlinl] d r..:pall ..'I !hc Prnpcn>
<br />
<br />
<br />to pi Jlh.::pal ',h;\ll fh.lt c~,l<:nd
<br />h";;~j)f ..:h;'1ngc ,he al1lllun! ..it
<br />Il,gbt. Ink .wd In!t.:l~.')1 ..11 BorrF,,~'(;1
<br />lr,"!l; ~L!ll;'lgl: \\1 lhl' PfUpl,:rl~ pnor tu the ~,llc
<br />\t,ll tg,-lgl.-- :.llfn;.",.i!J;tdy pUJl' !(1 "liCh "ale J...H
<br />
<br />l
<br />
|