|
<br />I
<br />
<br />84"'- 003977
<br />
<br />r
<br />
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />I. Payment of PriDClpaland Interest, Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charge. as provided in the l'J '""and the principal of and interest
<br />on any Future Advances secured by this Mortgage, ~
<br />2. Funds for Tn.. and Imu_. Subject to applicable law or to a written waiver by Lender, BorrowershalVpal'
<br />to Lender on the day monthly installments or principal and interest are payable under the Note, until the~Note iSl'ai~jufull;
<br />a sum (berein "Funds~) equal to one-twelfth of the yearly taxe. and a.sessments whiehmayattainpr;or!tyoverthis
<br />Mortgage, and l'I'Ouud rents on tbe Property, if any, plus ODe-twelfth of y""r1y premium installments for hazard,ins1l1'al!<:e':
<br />pi"" one-twelrth of yearly,premium installments for mortgage insuronce: if any. alLa. ICa&onably estimatedinitiallyan'd;from--'
<br />time to time by lender on the basis of assessments and bills and reasonable estimatcslherel>f" ' ,~~>~__'.:~"
<br />The Funds shall he held in an institution tbedeposits or accounts of which are insure<! orguaranteedbyal"edW;l'~()r
<br />slale agency (including Lender if Lender i. such an institution), Lender shall apply the Funds to paysaidtaxes,assOll$!,-,,,,-,ts,:~,
<br />insurance premiums and ground rents. Lender may not charge for ,St~ holdjng and applying,the FU,n.d&.-,analyzinils_~id'-~~~_~{
<br />or verifying-and compiiing said a~.s.'Uneitts and bilts. untess Len':~r pays Bo.rro~-er interest 'on t~e. Fu~ds. ~d. app~c~l?~:1~~:\,
<br />permits Lender to make such .a charge, Borrower and under .may agree in writing. at. Hie-' time:' of- .e.~ecution::.,pf:'-Jt~.~:, -
<br />Mortgage that interest on the Funds shaH be paid to Borrower, and un1ess such agreement: is ~:made. :9r~ a~ptica~~',::l:aw.'
<br />r"'luinss""h interest to be paid. Lender ,h.1I not he required fO pay Borrower any interes, or earnings onthe:Funds: I;enger,
<br />shali give to Borrower, without -charge. an -annua.l accounting of the Fund~ -showing credits .and debitS to -the. ~-U.rKk,::and'::the_
<br />purpose for whICh each debil '0 the Funds was made, The Funds are pledged as additional security for Ihe sum$ $cCllred
<br />by this Mortgage,
<br />If Ihe amount of the Funds held by Lender, 'ogether witb ,he future monlhly installments of Fundspa)!llble-prr6r~ to,
<br />tbe. due dates ~f 1axcs. n-\eSSment5. insurance premIUms and. ground rents. shaH exceed the amount required,.to:p.ay:~aid:~es..-.
<br />usessments, mlurance premmms and ground rents as they fall due. :iuch e.\cess shaU be, at BorrQWer~s .opti(1).~;,:ei.tItet.'-
<br />promptly repaid to Borrower or credited to Bt)rmwer on monthly IOstaHments of Funds. .If the. amount Qf:',~he..:Furu:ls-
<br />held by Lender shall not be ,ufficient 10 pay 'ues, ......ment>, '"'uranee premiums, and gfDund ",nrsuthey f.ll.dIIe,~
<br />Borrower shaH pay to Lender any amount necessary 10 make up (he deficiency- within 30 days from the date notice.is;J!1aJled
<br />by Lende-r .0 Borrower requestmg paymeot thereOf
<br />Upon- payment in fuU \'Jt aU sums secured bl,-' thIS Mortg-agc, Lender shan promptly refund to Borrower'., any': F.untU'
<br />held by Lender, If under paragraph 18 hereof the Property" 'old or the Properl)' is otherwise acquired by Lender, Lender
<br />shall apply. no l.uer than Immediately prl-or to the AaJc of the Pr-openy Of its ac,quisiti-on by' Lender, any Funds-' held:: by
<br />lender ar me time Qf application :15 a credit against the ~Hmls ~ured by thiS M.hngagc.
<br />J~ AppIkadoa of Paymeots. Unless appf~cahJe lay.., pnwtdes otherwl."!ie. all payments received by .Lender utidct. the
<br />N4.1t-c. and paragraphs 1 and 2 hereof \halt he applied hy Lender ;lrsl in paYr."':ent of amounts payable to Lender by' Borrower
<br />under paragraph 1 hereof. then fO Interest payabi-c (tn lhe !\lDle. then 10 {i >rincipal of the Note. and then .to interest and
<br />pnncipal t"lfl any Fu{ur~ Advances.
<br />4. C~; I.Jen... Borrower "huH pay aU ta,)\c~. 3.~'h.e\Smcnts and mher \.-harge-s, nnes and impmil.ions attributable 'to.
<br />the Property which may anain a pnonty over thl~ .Mortgage. and leasehold payments llt ground rents. if any. in the manner:
<br />provuied under paragraph 2: hereof nr. If not p.ud In '\uch manner. hy 8orr-ower m~,kJng payment. -when due. directly to the-
<br />pa}U lnCf1:!ut. Borrowec 'thai! promptly furmsh lo I_coder aH l1otu:cs of amouut$ due under thi.\ paragraph, and in .tbe ~vent
<br />Borrower sbaH make payment Ju<<t/y. B(Jrr(\y.ct ..haU pnmlptly fllrnt~h to Lender receipb ev&dcncing 'Such paYllUl:nts_.
<br />8ofi~-ft;::r :;..b;aJl p;om~!y t!:~h~r!;e a..'1)" !!cn wn!!;:h h-* priority !.l't-er !his Mf1rtga."in;"; prOVIded, that Borrower . shall not ,be
<br />required w di!oChargc itny ~uch hen "") long ;t!, UOH(\WCr shaH ~.g:fec m \HHUlg: to the payment t1f the oblig.ation. secured.:by
<br />'iuch hen m tJ. mMltteI K~cptabl~ 1'..1 Lcndc-r. ur 'J.hall in go(Ki faith conH.'st ~u,h Hen by. or dc::fend enforcement of :SUUl .lien iIG
<br />lejt.tl prl)ceedtn~ ....hlCh operale to prevent I-tk cnlon:."t'mc-tit ot lh~ ltl~fl \.1(' (orlelture of ihe ProperlY or any part thereof.
<br />s~ !I..:azard 1==..~. Borr-o'W:er ,a.aU k~p H.."c jIHfH"\;-V(,fUCHh n~)~ e:,i~lH1g {)f hereafter erected 00 the 'Property Insured
<br />agiUnst loss by fire. hua.rc.hi tndwJed wl.thw the term extended i.:OYCf.,g<;-'.. and such t)thct hazards .\~ Lender may require
<br />and ~n such ,U1RlWH~ ~nd rnr .'I,I..-J.I,:h f\T:.ttod:'i ':.b t enuc{ may rCQuin.": pr\J\idcJ. that Lender -s.halt .nOl reqUire that the am.ount of
<br />:Ht'.:h t:oycr-age c:u::!:'Cd Ihat Jitmount -et' (in'-el'.ll~C n:~mrcd to pay the '\-Urtl1'o ~t:urctJ by lhJ$ Motlga~e.
<br />The inw.rancc \:Arner prQ'lftdio{;t fhe ms.\iT<toce o;haU he. <.:fu.l:!oCfl by B\)rrowt.:; subject to approval by Lender; proVided.
<br />that :such approval "hail no{ be- \.Jf}rt3:l\.t,1oaol.y wuhheld. l\U prc1tllum:\ tlfl lnsunmcc rx~lic-ies shall he, paid In the manner
<br />provided undc.r paragraph 2 hereof or. If nOl {'h\H.i HI )t1~h manner. h~. Rt"fWWCf makmg payment when due~ directly to the
<br />IO!iura.1k;e "aUit't"
<br />
<br />
<br />
<br />L
<br />
<br />AU in;ut~n'..c~ pohCtt's .:l!)-J fe;~~.a!:Ci ~hcrtA~~ "h-;.dl ~ in form ;1..~i...cp1~bi~ to LtrtJ.:[ ;U'.lC ;jhaH Induce ~ :;;t'.u-:d:.trd mona:age
<br />CUtU5.e In bVI)t of and In form /i;,;i:cptaf,lc 10 Lender. Lt.:n\k'f \h~\li h..\-c the tight 10 hold the poh,-~ies ;;lOd renewab thereof.
<br />and Borf(IWCr s.h.-H prompljy fHrmsn to I ecnier ail tcncw.al ni,iltl.:c~ .toJ ail rel.;ClplS of paid premiums.. In the event of 105....,
<br />Borr()wer ~hl$n gn,'c PWfUPt nutl("( k) lhe Ifu.lJ;;ilh.~t' carner ano. 1 el'td'ltf. Lendcl' !nay mnkc proof of toss if not made promptiy
<br />-by !klfwwer
<br />Un~ 1..tmkr :uu.i BoCnY\\'CI {\(hcrVn~ agrt.-e In \\ ntmg. lH\llJ'afl\X rh~<cds shall be ~tppll<<i to re~tora.tjon Of repair of
<br />the- Pfl~n> damas;c\1. pfU~'ldeO ~Udl r~wra.tlon l~f r<:p~ur \~ c':-lmomkally leasible ,lOd lhe security of this MOrtgagt is
<br />nut thereby imp&Jf'ctJ, It ~u\"h fc:..IOf..lilOIl ur n.'p.:ur I,. llOl ":l,.,momH:..;:l!~' fC-dstble (H If the secunty of this Mortgage would
<br />be Impalt~. the loSuratl~C pn.:",,:C'<'>\!s ,h~1i be ap-pl.itt\J tfl Iht' ..um~ ~~wcu h) thl:'l> Mongage-, with the excess, if any, paid
<br />10 Borf"\.lwcf It the Pl"\l{)efl) IS ~lb.1fi'Lj,,-'H~d t-..~ H.l)rrnWCr, Ill' tl B"Hwwer I<HI~ tn Te~pU(llj to Lender within 30 days from lhe
<br />dale- notice !.~ maded b~ l.ender w 8orn)wc! th.H thl' !l)~tinlflcC C,:lffU.'1 otfers lO ..cult: a daim for lIl!)uran-\,:c benefits, Lender
<br />IS. authon:red to coUC\.:t and ;tppiy the IUSUf~Hl~t' pn:.1eeed!!! .i{ Lcn..h:fs ~'fH!Un either t,o (~tor~Ulon or repair of the Property
<br />r.lr to the soots. ~u.ned by thLS Mortgage_
<br />Unl~t,. l..cnde'r aod Borrowc,f l,)thtCVo-lse Jgft:< H1 \'.lIung. iUl)- ",Ul:h ap.pliC.llldn of pr()cced~ 10 pnncipal shall Imt c\tend
<br />1)C poi-tpon~ the dut' dale of th<: m\)J)lhly m~laHmcm.. h~tcrre\i h' in par-agraph'i ! <.lIltl 2 he,rc4.lt or (hangc 10C amount 01
<br />s.u"b tnslalimenb" it under paras.raph j S bereof lhe Pmperl~ i.... ~1(4UIH::d 0\' Leodcf, <ill right. titie- and inlt:rest of Borwwer
<br />in and to any lMUfOAtlCt:' pohcies and Hl antl w the pH..XCed~ tht;:l"t:iJ' fe5ult~ng from d.ullagc 10 f,he I)roperty prior tn the .,.lle
<br />Of "c"'luwlkin shaH ~ Ii) Lender h) the e.\t~nt ,i-f the ~Uin~ ..e;.;-ured b) lh!~ \h)flgag~ lmmedhildy poor to -:>uch -"ale or
<br />acquwlton.
<br />6. -P'rNer,.... -aDd \tajDt~-A&.IKt vf Pl'Opt"rt,: Lf'a.rbohk; ('o"dotniDium~~ Planned Cnjt lk\'f'loptnt!'nts, BOITo\-\'cr
<br />'Jhali keep the Property in gt.\(~ repan and Schall nm l:Ommj:i 't\ d.,;h.~ \..ll:' permit =mp;urmcm tJf JCh.:ri(\("ation of the ProperlY
<br />and shaU comply \Nlth the pru\'i)Jooi tc~' any lease If th!~ !\h.)ftgage 1\ on .1 kd.~dwld. If ltH~ ~hHlga,gc j~ \)11 a llI11t In ;,1
<br />coodonlinl:Uf1'1 ill' a plauned tHut dc"'dopmem. R~rrowef ...hall rcr!i,lnn aU I.'f 8ornw.cf's, lihltgaltotl!o under the "kdaratJnH
<br />or "ovenant-l ncattnJ or gO'ie.rnjng the \."Jotk:mHni-um {H planned UlH( Jevdupmc-llt. the hy.i",-,s .Hld tC'gl.llatlOll"> (If tht'
<br />((~t-mW1l Of pb;nned (uut l1e"dopmC:llL ;wd \.'Ofl))titu~nl Jvcum(nt",-, H;~ t'\HHlufninium to'e rl.~nned ntHt dcn:lopmcnt
<br />,idtt t~ f;XCI;u-ted h)' Borrower and recortieiJ h__'gethcl '.,I.'llh ltw\ Mi.\rl.gag:c. the l..:o\-\:n.uHs ilnu dg{eCUlenl-~ I..\t <w~h llt.l~r
<br />shaH be Hk;(lfporat'IXI mto and \l.h-aH a.mend i\n~i ~l1ppkme.nt tOt' \:';\\'cnartb .tod oigcL"t;'mcnh l.)t ttHS MongJ:8c ~\~ If the riLleI
<br />_fa . pan horeaL
<br />,~ ~ of lADdeT~. Setvrtty. if Rorrn'-'~,r Liuj.$. W }X'fWfl11 the ,;l,Jn~n~ulh ilnd .1gt'ccmenu u,'ntamt,!o in ~hl\
<br />Mon..... \.-'>f it any :A:t,K,)fJ \)( pfl;x',,",hnJ !~ d.lffl{Jtt?H't-,1 whu;h matt.'dally .nfecl'\ LCfl(Jc(, int('n:~t in the Pn'{.k':ny.
<br />,nc!vdittt. bu. tM)( lImited to. (1DU\cOf d(:ifnam, in~oiv('.ncy, \...~.xlc rHh,H\:.:etl1t::nl, ~1f <!rral\~Cmenb l',f' pn.K(1:'dHl~S ifw~).h;r;J ;,
<br />bwikrupc: 01 d<<~.fU. then LC-OOcf i.~ Lt:udef', (\ptH:W, upon nnlt\:\, ICl- Hf)rt~nl"(:L n1it~. ,Huk.-e },Udl apJ't'anln"I.~~, \lr'll,b\lts.~ ;o..lh:h
<br />~ aod tHe tUdt -KUt)1\ U ;i rt<<--l."\W") t.O- pnt'lcx.t L('nder.., fnh::tt."~L ,l]~ iHJHl~. hut lIot llmlt<<t tn. d!"hurs,enh.'ut ,\!
<br />f~ 4ilOttley'!i. l~ And ~nu)' UIX") the:: Pn;)pl::fty I;:) ffi"t.-;e ft~IM!h II L-t'nd(;T f't~!IHl,;d m,\ll~ag{' lH~ll(al1~'c .\~ .j
<br />~{,.laWo. ()-t mAkm-. t~ lt~n ~urc...J hy tht$ MOf~gag(:, ll~\rh~v.\~r 'Sh~il p,,-, the ph~I1H'mh r~'(I'iHfc\l (',' maint.J.n \ild,
<br />i....,.8(;" m (t4k~ Ufttu :'\;ucb -t1U\(' a'\ itw: r-~tu.r~menl tV( 'nto:.-h .l\_"j.lnu~\.:e 1~!'HHn,H.\~" HI- ..iI...:~>r-d1tuu.~ ~lth ij,IHl'""'r',, .'H!.J
<br />
<br />84 - 003977
<br />
|