|
<br />$~~-- ait~.lU924.
<br />L1NiFr37tMCovtsrwx't's. Borrower a>Ml. Lender covenant aa8 agree ss foIIaws:
<br />1. lipa~t x~'PrL~pd aai 9tNerest. Borrower shalt promptly pay when due the principal of and. interest on the
<br />ftsd~sbtetlnevs evedencai-by:tht Note, prepayment and late charges as provided in the Noce, and the principal of and interest
<br />oa z+ay Future Advances secured by this Miutgage.
<br />2. FSoi far Titaps~.adal. lrsxttiace. S~rbject to applicable law or to a written waiver by Lender, Borrower stall pay
<br />to Lend.-s oe the day monthly inst>siltttents of principal and interest are payable under the Note,. until the Note is paid iafull,
<br />a sum {herein "Purses':') .equal to sae-twelfth of the yearly ta'ees and assessments which may atkaio priority over this
<br />Mortga,;c. a^d ground recta on tht Ptnperty, if any, plies one-twelfth of yearly prtaaium inskailmeaes for hazard insurance.
<br />plus ourtsce!fth afyearly premi,i^^ instaftrtteab far rrongagt: iitatttanee. if any, ail as reasonably estimated initially and from
<br />time tc rinse by l.st[der an Mire basis of assessments weed bills aced reasonable estimates whereof.
<br />The Patois shall. be Geld is as instfttttian the deposits. ar acrntmts of which are instrttd or guaranteed by a Federal or
<br />state agwc:y (itrchuling I..eesder it Lender is such an ittsritution). i.etxkr shall apply the Funds to pay said cues, assessments,
<br />__ -- ;ot-a,.tro ~'o~ rertis_ a ender Wray »at charge for so holding and appfying the Funds. analyzing said account,
<br />or veiif~•iag artd cnmpiiittg said assessments acrd bills. artless Lender pays Borrower interest oa the Funds and applicable law
<br />pertnin L+radtr to make such s charge. Borrower and Ixnder may agree in writing at the time of execution of this
<br />Mortgage shat iatertsf on the Flrrads shall be paid to Borrower, trod ualtss such agreement is made or applicable law
<br />requitta such iatutst to be paid, Leader shalt net bt required to pay Borrower any interest oe earnings. on the Funds. Lender
<br />shall give+to Hotrawer, withatn cttargt, an atmual acevunzing of the Funds showing credits and debits io the Funds and the
<br />ptt[pwe free which each titbit to the Funds was made, The Funds are pledged. as addetiona! security for the sums secured
<br />by this M<rtt~'-
<br />Yfthn atno;natof the Poetic heM by Lender. together with the future monthly installments of Funds payable prior to
<br />tlx dire darts of taxes, ass~aaments. ittsttrance pten sums and ground renu, shalt exceed the amount required to pay said taxes,
<br />insurance Preariams and. g[aund rents as :hey fats due, such excess sha31 be, at Borrower's option, either
<br />prtxnptly repaid to Barnowtr or crtdite to Ba:rowtr an atonthly mstalltnents of Funds. if the amount of the Funds
<br />!recd by t.tn[kr shall ap be sulii~cietst to pay taxes, assessments. insurance premiums and ground rents as they fall due,
<br />8arrowes° shall pay to lender any amount necessary to make up the deficietscy within 3tl days from the date notice is mailed
<br />by Ltadta r+a Borrower ttquesting payaeent thereat.
<br />Lipon paytexat is full of all. sums secured by this Mongage. Lender shall promptly refund to Sorsower any Funds
<br />held by Lander. If under paragraphs IS heetof she Property is sold ar the Property is otherwise acquired by Lender, Lender
<br />shall mpplry, no lsttr than immediately Briar za the salt of the Propcny ar its acquisition by Leader, any Funds held by
<br />Lstx3er at the titM of applicasiaa as a credit against the Burns secured by this 3fongagc.
<br />3. ;1,**Yeatlpa d ?fyikeslc. Linltss applicable law provides atherwiu, all paymcnxs received by Leader under the
<br />!tare wad paragraphs t std : hereof shah ix applied by !.ender first rn paymc»t of amounts payable to Lender by Borrower
<br />uxsd~ parttaraplt 2 hettof, when to iaterest payabk on the 4aic, then to the principal of rite Note, and thin to interest and
<br />pnsscpai,an any Firaue Advaaces.
<br />4. 1.ys11~ 1.1na. Bonowtr shah pay ail tries, assessments a»d ether charges, fines and impositions attributable to
<br />ibe Property which :may attaiar a priority over chit. Mongagc, atsd Icssehold payments or ground rents, if any, in the mantxr
<br />provided under parat{rapb Z hereof ar. if trot p:ud in sut:le manner, by Borrower making payment, wheat due, directly to the
<br />payte theratf. Brwraws shall ptampriy furaisls #a ftndtr all newest of ansounts due under this paragraph, wad in the event
<br />$amower dull mate payttsen[ dttectiy, llawruwer shall prcmnptly furnish to l.eaeder reetipts evidencing such payments,
<br />Batrawer stsalY promptly dix.ltarge any Barn which has prrorny over ^.hrs 4lurtga$c; pro~°iatcal, :hat Borrower shat! not be
<br />rngturid to disolatrge way suds hen sa lon$ as Borrower shah agree to Mnu»g so rise payment of rtes a?bhgaton secured by
<br />suthlietk in a manatee ateepcabtt to Leader, or shalt in goad fsich contest such lien l+y, or defmd enforcement of arch. lien in,
<br />kga€ gmcteditsgs wlpclt operate to prevent the enforcement of the lien ate forfeewrc of the Property tar any pan thereof.
<br />S. iElaaard lwarantee. t3oxtawer afrali keep rtes trnpravet»t»es uov.- existing m hereafter erected. ott fire Property insured
<br />agafrat lass lty file, hazards included within the zttnt "'e?:tendrd coverage", and such other hazards ax lender ma}' require
<br />and in stxdt anrottnta andfasr such perincfs ax i.tttder may regwre, provided, that Lender shah not require that the amauni ut'
<br />stiCb cavera~e txctxd khat uaoune err c:sveragr required [cs pas the .ums securty by this Mortgage.
<br />'t'he tatntraaoe carrier providing the insutatsrt steal! tae clrtvstrs by Barsower sub}ect to approval try Lender: provided,
<br />that a[tch approval shah War bt unteaaoaably wirlsheld. All premiums un insurarrct palictts shall be paid in the manna
<br />provided vakr paragraph 2 heroot ar, if rip. paid in such mswntr. lay Btxtower making payment, when. due, directly to the
<br />insurane carrier.
<br />Ali. iewuraatt policies and rcnewaLr therrx:P thali be in :arm rcccptablc to Lender anti shad! include a standard mongage
<br />clttsys tat favrn of wad to from accxptabk tv Lender. !.cadre shad have the right ra hold she polities and reastwals thereof,
<br />Lk?rtiawer shat! prtarnptky tatnaslr to LesxYCe all rx:s#ewat rsata.^es a.~.t a r re..,c:gxs a : -~ t` n - -_„ ..,~. -_-<-,,, ., :_ ~.
<br />Brxmvu shatlgitre prompt not[tx na rise iimcuaatxt carmr and !..entice. Ltndcs may •uag_ pt:xt. ~f loss iT not made orompily
<br />by Sorcerer
<br />Ualsaa Lender artd:Borrttsrer otherwise agree. m writing, insurance proceeds shah be applied to reswration ar repair of
<br />tht Property dama~d. provided such restoratton or repair n tconomicaily feasible and the. securtcy cl this hlorigage is
<br />ttmt altaretry itapairtd, if such eestaratoo or ttpair is trot cearratnically feasible or if the security of this Mortgage would
<br />lx impaired, rtes insutstace proceeds shalt be applied ko rite sums saxured by this Mortgage. with fret excel:,. if any. paid
<br />to Barrawer. ff tlse Prapeaty^ is abatsdonesi. by Borrowtt. ar if Borrower faits to respond to Lender within 3fl days from the
<br />date notice is tna:?ai bw T:eneler to Btxrtrwer tfiat the itnttraexe carrier atfers ra settle a a:taim for insurance benefits, Lender
<br />ss authcreiru# to collaYaitdapplytfse snsurarne pracctds at Lender's aprion either to restorarian or repair of the Prapeny
<br />or to rlx i.ama secured by this Mort;.
<br />Utd^_ss [.eteeler andBarrovxsotlitrw aeagree tn. writing. env such apptfcatian of pava:eeds to pnncpat shalt not. extend
<br />or prntpant tix deae dau of the moatlrly installttxssti reterrtd is in paragraphs l aasd 2 hereof ar chatigt the amau»t of
<br />such insuuxnes. If atixSerparagrapts ifl hereof. the Property is acgtsir~ by leader. all right, title and interest of Borrawcr
<br />in and to arty insuranct piuicies;and in and to the procees~ ebercof resulting from damage to the Proper.}• prior to tit.^ sate
<br />or scgarasiri~ shaYi W Leu~r tts tf~ extent of the sums xatrcd by this ?sf»rtgage immediakrriy prior to sorb sate or
<br />argvisitsaa.
<br />6. N4sse*+^afler writ :-itairlr~tssbe of Pr~eny: [,nsk~atAs: Goitres PLasned Ueit [&velapmet+b. Borrower
<br />trial! keep rtes Prupert}~ in goad rrpair:atnl shad.rat commit waste. or permit impairment ar dettr~tatian of ttie Propernr
<br />acrd else!! cexnps• ^rith rtes pmvtsiesta of atey lease if chit Mortgage is an a itssthald, If this Mortgage is on a unit in a
<br />:axdami»nuia or a p!a;vted unvt dtvcuitxkxeitt,. Barraw^er snail preform alt of Borraiver's obtigatians under the decfarazion
<br />~w. cmrcuti~ts crtat>as$ ar g'.v+er .trig the esitndaminium t+r planned unit devclopmeni, tYte bylaws artd re$ulatloas of the
<br />.otulc~nnttutun er ntsntaed unit nnelr.+pmnnt_ and cnastitzrcnt ducumenis. ff~ a ::csndoaeiteium a~r planned unit .tevclapmem~
<br />rWV is extcuted ay Borrower nr:d rrci>rdtd ta,$ethtr with this Mongage, rtes covttcatits and. sgre~ements of stx.h rider
<br />xhati br rncorpacatal sn:o and shat. ansard .end. sttpplerrtenC rtes covenants wad agsetxneats of this Mirngage as if the ridtr
<br />FKre a prt heroot
<br />'". r1f~!('I~Oi tf Lrw4rs Jctxe[ky', li $arri4i.°ev-.f$ils ra ptrfarm itre. cavtnanu; attd a4ttw`rnenit Ga»rairFCd it! this
<br />Mora8alfe• or if ai*S action c:r prnccenia$ is c~ttntncca3 witiclt rtraterially after:#b LCitt~'a iatttt'esi iti tree P~axpcny.
<br />irN.:ltidm$. Est nett itmiard to, emiiicn diuniin. in~~t•~tncy, enfarcetzie?t.. nr arrange.~:rr~, or ~+nscetdia+sGs. in~~oh~ing a
<br />t»krn~ sir d~ec=dcot. 2}:~ Lcmdcr a.= LetiiSSr's npui:n, vpa)a arHtce to Boraawvcr rtsa~, ^n:aica sir~n a;rpeat'aticcr.. ui~t.ur~ ~s~uch
<br />u a-rd Sakt. tarn a4ttori as ~x accrassr}- ti, prudnna lxtsdetr's inYtreSa LEtn9i brit >v -ra,,,r,l tit, xl~~h+ac,mu+nt of
<br />:rattroai?{e cttni7xYa E,: es ,u^ed :n:ry ~~na?t: ;he P: npeny to tt#akt repaaks.~ '." l_erclcr rca;s _ m.nttga$e insurancs xs ;~
<br />:=ixsd~tern OF nxakin4 't}se. iriprt +c:utet: b3' r!:;s M:,rrglagt. Bari'ou~r shall. ;.,y ~ ,,*crrt;;, ,.•:~ to nsat;ttaeo ssx.h
<br />~trrtisswax.+r fti e:F2~:t usra:i stirzi terra r? 't>4 rs~ uerua+nt fxsr xuiki arxattraaicrc tst^irrratcs its ac ardaixix with :f_tartxvm~cr'a anal
<br />
|