|
<br />r-
<br />
<br />
<br />83....... 006696
<br />
<br />UNIFORM COVEN:50N'fS. 'Borrower and Lender covenant and'~\8ree as follows:
<br />1. hyme-at of Principal and Interest. Borrower shall promptly pay when due the principal of and intcre.<;t on the
<br />indebtedness evidenced by the Note, prepayment and late charges ~'s provided in the Note. and the_ principal of and interest
<br />o.n any Future Advances. secured- by thi!' Mortgage.
<br />2. _ Funds, fo:r Taus and. .I.urance. Subject to applicable taw or to a written waiver llY Lender,- Borrower shall :_pay
<br />to Lender _on- the day monthly imtaUrilems of principal' and interest are payable under- the Note, ~nti~ the_ Note is _pai~-, in f~H,
<br />a _s~-(herejn' "Funds"} equaJ to- one-twelfth- of [he yeady taxes and assessments. which may-attain priority over this
<br />Mortgage.- and-g~nd rents on tbe-Pr.:operty, jf any, plus oneMtwelfth 'of-ye_arly premium installments for hazard i_nsur?~c~t'_
<br />plus-_()~twelf.th:_of_Ye4'lrfy-p~mium, im:talhpents {or mortgage insurance. if any. all as reasonably estimated initially and :from
<br />time to time,-bv-Lender on the l,lasis of assess01~nts and bilts Olld reasonable e.~timates _thereof.
<br />The _Funds shaH be held in'_:an institution the depo~its or ~ccounts of which ,are insured or guaranteed by~a--Federal or
<br />state' agency (including Lender if Lender is such ;In- inswmion). Lender shall apply the Funds t-O pay said taxes, assessments,
<br />insurance premiums. and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying a(ld compiling said assessments and bills. unless Lender pays Borrower interest on -the Funds'and 'appHcable--.Jaw
<br />pet1'l)itso lender, to, make _such a charge. Borrower and Lender may agree in 'writing at the time of execution of this
<br />M(lTtgage, that interest on the Funds- shaH be paid to Bo(mwer, and unless such agreement' is -,made' or' applicable la\V
<br />requires such interest to be paid,-Lende-r shall not he required to pay Borrower any interest or earnings oJ.?the Funds~ Lender
<br />shall give to Borrower, without charge. an annual accounting of the Funds showing credits and debits to the Funds' and the
<br />purpose io(which each debit to [he Fund" was made. The Funds ,-Ire pledged as additional security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender. IOgelher with the future monthly installments. of Funds payable '_prior 10
<br />the due dates of taxes, asSCSSmefi[5, insurance premiums and ground rents, shall exceed tbe amount required t{l _pay- said taxes,
<br />assessments, insurance -premiums and ground rents - as they fill! due. su..:h excess shaH be. at Borrowc-r's optiol}., either
<br />promptly repaid to Borrower or credited to Borrower on monthly insmHments of Funds. If the amount of the - _Funds
<br />held-by Lender- \haU not be sufficient to pay taxes, J,5."ic,,'i.;,;menrs, insurance premiums -and ground rents as they' -fall du'e,
<br />Borrower shaH pay to Lender i!ny amount necessary to make up the deficiency within 30 days from'the date notice is mailed
<br />by Lender to Borrower requesting payment therCt1f.
<br />Upon payment in full of aU sum~ secured by this Mnrtgagt.::. Lender shall promptly refund to Borrower any Funds
<br />held by l.,ender. Jf under paragraph 18 hereor the. Pn.1pcny I' ..;old or th~ Property IS otherwise acquired by Lender. Lender
<br />shall apply. no later than iOlmediatel~ prior to the :-alc of the Propcrty or jts acquisition by Lender. any Funds held by
<br />Lender at the liml: of application as ;1 credit against the :..um~ secured by Thi~ .~1ortgagc.
<br />3~ Applit1ltion of Payments. ll111css apphcable law pro \ ides (ith~r\~ i..,c. all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereOf Shllll be apphe:d by Lender tlrst lrl pa~ ment l)f amounts payable to Lender by Borrower
<br />under paragraph 2 haeof. then It) mterest payable 011 the Nntt:'. then !n the principal of the Note. and then to interest and
<br />principal on any Future Advancc~.
<br />4. Charges; lJens. Borro~cf "h.:dl pa~: ,Ill l,{\l.'.... ,li.,CSSn1l,'nt., .Hid t~tht;r ;;h.1rgL's. 11n~\ and impositions iltmbutable to
<br />[he Property which may atTain ;j pra-.rity over IhlS \tortgage. ;ll1U h!~l~chold payments m ground rents, if any. in the manner
<br />provlded under paragraph 2 hereof or. If not paid in ,>uch manner. hy lhwnw.rcr making payment. when due. directly to the
<br />pa.yee thereoL Borrower shaU promptl} rUf!l!~h hl '--~nder ali nCltlces Lit amollntS due under this paragraph. and in the event
<br />Borrow"er shaH make payment dtre~tly. H,,)rr0\\-lT ..hall promptly lurnl'ih II) Lcmkr receipts cVldcncing such payments.
<br />Borrower shaH promptly discharge any llt:n \~ hl~h has rnnnty l1\t:r thi.. ~hlftgagi:; provid~d. Ihat Borrower shall not h~
<br />required to discharge any 'Such lien so inng ;1:;' tklHOI.\\:r shaH !lg.H:C in '^ flllllg to th~ payment uf the obligation secured b~
<br />such lien in a manner acceptable to Lender. or ~h.iJJ in good f.iJib \-'\.lllh""t such hen tWo or defend enfon:cment of such lien in,
<br />legal proceedings which operatc to prevent the cntun.."CHKrH lH' ih~ !tell l)f furteltun: of tht~ Property ('!r ;my pan thereof.
<br />5. Hazard Insurance. Rorrowcr shall beep ihc ImprO\-'l!lHt:rH;. 11\""""- ~\l'i.tmg or hcrt:attcr ~rcclcd on the Pinpeny insured
<br />against los.s: by fire, hazards: induued vdlhin the term ..'t:\!cndcd t:L1\cragc. . ,md '!>uch otht'f hazards as Lender rnay require
<br />and in .such amounts and for sw.:h pcrKHls. .d'> L~Hdcr m;J,j-- fl':q,uin:; pri'\\'ldcd. lh~ll L{.'odcr "hall not require that the amount of
<br />such (."'-Overage exceed th~t amount \.,( ;.:;,);.-c:agc tcqUll'ed to ra~ Ihe '\um" ..l.'cmed by this Mongagc.
<br />The insurance: carrier providing rhe In.sUfarKt.' ~h.;:tll he ,.-h()!o;cn by Hnrr~)\\'cr subJcct 10 ,Jpproval by Lender; provided.
<br />-that such approval shall not be unrca'ioonablv \,,'uhheld. .\1I premtllnl"i ..m U1,urance policies ....hall he paid in the manner
<br />provided under paragraph 2 hereof or. d nut p.ml in S\l.::h manB~r. b) B0fW\\er makmg payment. when due. Jirectly to the
<br />insurance -carrier.
<br />AIUnsuranc~ policies and r.:ncwaJs. there!;,>1 ,had h\: In form .h;.;:cptJbk- to Lender and shall include ~l ~tallJard mortgage
<br />clause- in favor of and 'to lurm acceptable h.1 L~ndef. Lender ~hi.lll ha\.l.; !h~ right w hold the policies and fenc\.vals thereof.
<br />and Borrower 'Shall prompdy furmsh to Lender all r~fh~\\al notice':. and .ill n:o:iptS- ot paid premiums, [n the event of loss.
<br />Borrower shall give pr<:lJnpt notice tll the Hbur.-HKl' carner ~ntl Lender. 1 ender ma)' rnake proot 0f loss it nol made prompdy
<br />by Borrower.
<br />Unless lender and BorHw,er Olhen''-I\C a~fe-c .In wrillng. in-..unmcc pnn::ceti-s shall be applied to restoration or repair of
<br />the Property d8.1nage:d. provH.led such reslOraHon -(If repair IS ~':olh1mlcii!Jy feasible and the &e~uritY of thi~ Mortgage is
<br />not thereby impaired. If such -restoration or rt:pair is. not e(\.1nl'mic.aHy fca~lhle or if the secunty of this Mortgage would
<br />be impaired. the insurance- proceeds shaU be apphed to the 5,i-.uns ~-c;;:tlre-d by this Mortgagt:. wHh the excess, if any, paid
<br />to Borrower. If the: Property is abandoned h~- Burrower. Of it Borrower falls w resptmd to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the- !lnunmcc carrier olfers to s.culc a daim for insurance henefits. Lender
<br />is aulhorizcd to coliect~.and ~ppi.y (be imuram:c pr~ at LenJer';s option either tt) r~torat.ion or repair o( the Property
<br />or to the sums secured by this Mortgage,
<br />Unless Lender and BOfTOwer otherv.'i~ agree lit writing, any -SUdl appli\:iilion of pn.lCceds to principal ~hall not extend
<br />or puatpone t.he due dale of the monthly ins.tallment~ referred to in par.lgraphs I and 2 hereof or change [he ..\mount of
<br />such installments. If under paragraph is hereo1 the Property i~ ,.H:..'qUlre-d by Lender, all right. title and interest of Borrower
<br />in and to any insurance policies. and in and to the proceeds thereof resultmg from d~mage to the Property prior to the sale
<br />or a-cquisition s.ba.1t pass [0 Lender to the extent of the sums secured hy tbis Morlgage immediately prior lO such sale or
<br />acquisition.
<br />6. ~aod Mala.......... of PropenYl L.....nollls; Condominiums; Planned Unit Oevelopments. Borrower
<br />sballkoep the Property in good repair and shall not commit ",..Ie or permIt impairment or deterioration of tbe Property
<br />and ,-shall comply with the provisions of any tease if this Mortgage f'i- .:m a leasehold. If this Mongage is on a unit in tl
<br />(:~ Qf a planned- unit development. Borrower, shaH perform aU oJ Borrower's obligations under the declaration
<br />Qf OO'ftIl&DtJ .c"'w. or -governlJ11 the condominjum or planned uflit development. the by~iaws and, regulations uf the
<br />~UIQ ot--~ _unit dC'\"eJopmetlt. and conlitituent -...k'ICumenls. If a condominium -or planned unit development
<br />ridcl'jac~by,Jlor:.owe. and """,nled tOll"thef' "'fib ,his Mortgage. the covenants and agreements of sllCh rider
<br />==.e,,::=.,=~..~ ~ cMI~ -,ARUo..4!d-a...l'}d su...-np!en~nt the (;(lVemmt'i __~U}d _ilgfeefrumts of thiS Mortgag~ as If the, rider
<br />_t\cf"l,lt /lM:9t.
<br />j~~,!II.~. s....n.,. If Bortower hil. 10 perlonn the coven.nt. AnJ. agreements contained in this
<br />~.Oftr.*"YJldiOnar ~llll IS com_need which materially .ffeets Lender" interest in the Property.
<br />ltIdt.MIitl&. lmt not limi" lO, mlWt 6oIluUn; j!l5Olvcn<:y. c<>de enfUn:cmenl, I)r ",,,,ngero<:nls 0< l'roc-eedings involving a
<br />bMi),rupt.-ot~. then U:ndeI at l.,t'--udcr~s optioo. upo-n notice to Borrower. ma,)' make s-ueh ai:'preantn~. d\soune juch
<br />....,_~.._ fUCb-,:;\tC~- as: it,:Q4l.~ to,p.r~.l,-u-ader'$-interl.T~l~ including, but nQt _limned \(1. _disbursement of
<br />~,.-t~ t_ lm401llqlJwn tbe Prnpe~y. tu m.kerep.lr>. l! Lender required HIOf111age i""If.nce "' "
<br />,"-~':'i)t~inJ,,_lttc:. ~fl'*ut~: bY'-,lfm .Mt1ng~.. Bop'Ower ,!laB PliY tnc pr~mium.' rcqHi~. to maintajn 'Su~h
<br />lAftt'r___ if!: _~ Ulltil -Wth' ttmo - <<" ._bt t'etfuir~l: fOf lj.:uch: iM-Uf:l:H'U::C {.;:nniuij:tfto t:l ac-cord;Jincc WIth Botto,wer'!l, .wd
<br />
|