|
<br />84- 005100
<br />
<br />r
<br />
<br />UNIFORM CQvF.NANTS. Borrower and Lender coven.nt .n<l agree as follCiws:
<br />t. Payment of Principal and Interest. Borrower shall pr~mptly pay when due the principal of and interest 011 the
<br />ondebtedness eVIdenced by the Note, prepayment and late charges as provided in the Note, and Ihe principal of and interest
<br />on any Future Advances secured hy this Mortgagc,
<br />2. Fonds for Tans and loso......,", Subject to applicable law or to a written waiver by Lender, Bon:ower shall pay
<br />to Lender on the day monthly IOstallments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a sum (herein "Funds") equal to onc-twelfth of the yearly taxes' and a""essments which may attain priority over this
<br />Mortgage, and ground .ents on the Property, If any. plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly prcmium installments for mortgage insurance, if any. all as reasonably estimated inillally and from
<br />time to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shalf be held in ;10 institution the deposits or aCCOunts of which are insured or guaranteed by a Federal or
<br />statc agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes. assessinents,
<br />msuraoce prcmiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge, Borrower and Lender may agree in writing at the time of execution oftbis
<br />Mortgage that interest on ,he Funds ,hail he paid to Borrower, and uoless such agreement is made or applicable law.
<br />requires such intercst to be paid. Lender shall not be requireu to pay Borrower any interest or earnings. on the Funds. Lender
<br />,hali give to Borrower. without charge, an annual accounting of the Funds showing credits and debits tothe Funds and the
<br />purpose for which each debit t,l the Funds was made, The Funds are pledged as additional security for the sums secured
<br />by this Mortgage
<br />If the amOll;u of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />~hc do;e dii.:':s 0f t,;ues. Zli:.ii:i5ffi€Ul3. irEiur.1n~c prt::uiiuffiS and gfUi.ii1G l.;;iT,5, ~haH ex~ the 4.ffiuuiit .cGui:rt:d tG pay -said- t~-
<br />assessment'i. insurance premiums and ground rents as fhey faU due, s.uch e~Ce&i shall be. at Borrower's optiOn; either
<br />promptly repaid to Borrower or credlled to Borrower on momhly installments of Funds, If the amount of the Funds
<br />held by Lender ~hall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due, .
<br />Borrower shall pay to Lender any amount ne.:essary to make up the deficIency within 30 days from the date notiCe is mailed
<br />by Lender to Borrower re4uestmg payment ! hereof.
<br />Upon payment m full of .11 sums secured by Ih" Mortgage, I.endu shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph I S hereof the propertv IS sold or the Property is otherwi.e acquired by Lender, Lender
<br />shall apply, no !ater than lmmediateiv prior to the ,ale of the Property or its acquisition by Lender, any Funds held by
<br />Lender at the lIme ot apphcation as a ('redit against the sums secured by this Mortgage.
<br />3. Appllcatioa of Paymenls, !Jnless applicable :aw prOVIdes otherwise. all payments received by Lender under the
<br />NOle and paragraphs i and 2 hereof shaH be appiied by Lender first in ,.. \_ :mem of amounts payabie to Lender by Borrower
<br />under paragraph:: hereof. then hJ mlere'it payablf" on the Note. !;>",~..., i" l.~,e principii...' i ~he Note. and then, to interest and
<br />prmcipal on any Future Advances
<br />.... Charaes; ~ns. HllTrl",,,:er ~h;.!H pay ,dl l.ll\l."_ .t\M~s-sml:nb :ll1d l\lhcr tharges. fines and impositions attributable to
<br />the J>ropeny which may aHain d pnority ("'ver thiS -"tort gage. and lea..chold payments or ground rents. if any. in the manner
<br />provu.ied under paragraph':: hereof 0L d not patd In ",uch manner. by Borrower making payment. when due. directly to the
<br />pa)'ee thereof. Borrower .shall promplly rurm\h to Lender all notlces of amounts due under this paragraph. and in the event
<br />Borrower shall make payment Jlrcdl\-, Borrtlwcr .",hail prompt1j turm~h 10 Lender re'eipls cvide.Ddng such payments.
<br />Borrower !'.haU promptiy dlS\..hargc any hen whiCh has pnDflty o\cr this !\.fongage; provl(..Ied. that Borrower shall not be
<br />reqUIred to di'schatge an)' ~w.:h lien ~~.1 h.:mg .i,\. Born..~~r shall agrct:: in Io\riting to the payment of the obligation secured by
<br />such hen In a manner !l{:ceO!3.hie h~ Lender- nr ~haJ! 1n Q()t)Q faIth .::ootes.l sllch lien bv. or defeod enforcement of such lien in..
<br />legal proceedings wh!l.:h -l,~Perate to pre"en~ the t'nfi.1rC~menl of the -ilc~ -(;r- f~ri~it~j~~ -of the -Pr~perty or any part thereof,
<br />S. Huard Insul1lBce. Borrov.'c:r shall keep the 100provc-mcnh no~~ eXt'3lmg or hereafter erected on the Property insured
<br />agatnst loss by tire. hal-<lrdt indudcd \'\-llhm the term '.~x[ended l.~o\!erag~'., and such other hazards as Lender may require
<br />and. in :soch amounts ami fur s.u;,,;h pccll,)ds as Lem.kr !l1ilY re:\luln,'; pnwided. that LlJoder shaH not require that the amount of
<br />such cove.ra!lc c\ct,'eJ th.u 3.fllOUnl c't d'verage reqUired to pay the ..um~ ~e.c\lred hy this Mortgage~
<br />The msurance \.:arner providing the Insurance shall be: ...~hosen by Borrower subject 10 approval by Lender. provided,
<br />that .su\-':n approval ~haH not be Hnreasllflabiy withheld All premwms l)O insurunce policies shall be paid in the manner
<br />provtded under p3.ragraph 2 here-or Of, d nOl p:-ud Ui slIch manner. by Borrower ma.kmg payment. when due. directly to the.
<br />Insurance carner.
<br />.o\U insurance pohcle.<!i and rcut''o\-aJ-s thercp, '!hail be tI1 iorm .~.;cep(<tble to Lender mld shall mdude a standard mortFage
<br />..:lause in favor oi and Hl form li('ceplabte to Lend(L Lender "haH h~\'r: the tight to o\..1ld (he policies and renewals thereo!.
<br />and Borrower ::,.hall promptly turmsh to Lender all fCOfll"v.at nOllces .JIH.1 :iJj receipts. of paid premiums.. In the event of loss,
<br />Borrower shaH glve prompt rWllt.:c h.1 Ihe Ii\~Ur.Hl>':l.:' (JTner and Lcnde'L Lender may make prout of loss if not made promptly
<br />by Borrower
<br />Unles.s l.ender ..nd. Bon"''lo\er \'therv.'~~c ag.ree lfi wflung. m~Uf~Ul;;:e pHll:ceds shaH be applied to restoration or repair of
<br />tne Property damaged, pr\,wlded \u("h felt-ti..lratlli(l lW rcpan IS t'C\.)llOffiICall)' feasible and the -security of this Mortgage i~
<br />not thereby imJlalred. If ~u(h re'llurdlu.'n Of fcpalf IS nt'lt \,"\.:onOHlh:.lHy feaSible or If the secunlY of this Mortgage would
<br />he Impaued, lhe !O.uranec pwcecu, ,hall be applied to the sums ",cured by thIS Mortgage, WIth the exce... if any, paid
<br />to Borrower II th~ Propcrt~ i,~ .iDandoned by Borrower, 0r d Horrower falls to re~pond 10 Lender wlthin 30 days from the
<br />date notice- IS fllRtlN bv Lender 10 Borr()w~r rhat the Iilsurance ...:-arner ofters to seule a claim for insurance benefits, Lender
<br />1$ autborll.ed to (:l.)Ucct~ and apply the Hl!.uran..:t: pn.lCceds: .:it Lender's opllon caher tn restor.ulon or rep&ir 01 the Property
<br />or 10 the 'urn. ,,'cured by th" Mortgage
<br />Unless Lender and Borro\\'C:f lHhCf\\-IS-C ;igre-e III ~f1ung. any ~Ll(h appliCaltOO of proceeds to principal shall not extend
<br />01 postpone the due date of the rnt.\Othl~ in,Slallments rdcrred III m paragraphs 1 and 2 hereof or change the amount of
<br />such lostailmenb, If under oaruraoh j S hereoi the Prooertv is a~uUlred bv Lender, all rilitht. tille and intercst of Borrower
<br />in and to an, msuran~e po-i~leS ;nd in arntlil the pr~t..~-s {hereut'resuiling trom damage-to'the Property prior to (he saic
<br />or acquiSItIOn ibaH pass. to Lender (,,) the c,\lcnl ef the sums secured hy thiS t\'lorrgag" immediately prior to such sale or
<br />acqwsitiQ-o,
<br />6. ~,'illlio&,;md M~ of Property; L,,_bolds; Condominiums; P1u1led Unit Uevclopmenls. Borrower
<br />.hall keep the Property in good repair .nd shall nOI commil Wa>te or permll impaument or deterioration of tlte Property
<br />and &h&11 c\,)mply with the- pro't'lslOll$ of any jease Ii thb !\,.forlgagc 1'0 on n lca~chotd, If thb Mortgage is on ~\ unit in a
<br />condominIUm or $.! planned unit devchJpmcOf. Borruwer shaU perform aU \.~t ikutower"s obligatIOns under the declaration
<br />tlf' '-O-VCQ.iUlti c.re.hna or gO'\fernJOg the ,--'(In-d,-)mtnIUm ('f planned urul devcil)pmenl. the by~laws and felutations of (he
<br />(;\.-"t\\..lomuuuID Or planned unit development. ,mo C(lnS{Hu~rH document" I f a ....'muominlum or pl~nnt::d unH de....elopment
<br />ruier it u&;.utcd by 8t'>rfO\\'Ief aud rCL:urdetJ tog.ether wnh "US Moltga.ge. the ~OY~n4nbi, dud agreemenb of \lIch nder
<br />thall be Ulcorporate<! IOtQ ""d .hall amend .."d supplemcl1l the covenants and allre<!menls "r Ihl> Mnrtglllle as Ii the rider
<br />"'..".. a pari h..reot,
<br />7. Pretecdoa of l.......~. Securit)'. If 8('\rnn",.cr f~'Hb. iiI perform the (.ovcnants ami agreements ...'lmtamed in thi!'-
<br />Moft... \\t it' a.ny acll00 ('sf pn:~;<<dlf\1 lo-,. i..!Jmmcll\:.ed WhH;h maledally aff<<t:'\ I t'nder's interest in the Property,
<br />ift(:ludm-l. hUI not limited ((1. t'tnment domiun. jI')~1-l\refK-Y, ct"lie cnfllr~.em-eot. llT arrangements or proceedin,:s In\'olvm., 11
<br />hankrtJpt Of de-.::edctH, then Lt:fKK-r i!\t trndcr\ PP-H(Ul. opon ni)It~~c 1\' t\!..,\{'f.)wcr rna~ m.akc: su,,'h apf"'e--Arance,. dl~hufl\c li-uch
<br />'HJ.I'n" I.." 'K~ JU(;b ~UUi) a," 1.1 l~e't,wr)' ~p pfOI<<:: l.-c:nde.r's HHC-fC'lt, HKJuJmg, but not hunted hI, ...ilsnUri-tment ut
<br />t.tt;Klh.ablc atturncy.'~ iee$ .U1J (-fiU)' UpL'H the Prl..~.xn)" to make [~palh II' LCIH.!t;r rC'4t11fcd tllu({~a8C in,ur3nn~ ;.~~ ,t
<br />..:~m~h:tw-n ';If n~;;i.!un; t~ h},::!~ ~~uH!d hy !h~.';' tLh)fI.~~~'!.'. n..,l-fft,..t~ "~"h'!H p~y !ht.: Pf>r'lnIWt\.. loI.~~IHn~J t.~ rnamt;i.m \tH:h
<br />m,u.u-n-~~ in d!.-x! '.HHH 'l~t.:h Hmt .,If,, 1h..:- rQ-':.tHir(,f1U~tH h.~r \uch ir'l'\U,llt.n(:~ fnftl111dh':; !!l ;,t(r.t..~~dJml.~{, ';Idth B('!;rTF.id;::(;; liUld
<br />
|