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<br />82 --301 fi'7~
<br />t,xti+~!~tCovetat.N1s::HorrowerandLender:cnvenantand:-agrzeasfollews:
<br />1. Paymeet o[Prineirelaod Interest.. Rarrowershall promptty pay: when due the..principal of and interest onthe
<br />indeMedness evidencedby the'Plote, prepayarent andlate: ehar~s as provided in iheNote, and`the<principal of and: interest
<br />on any Future Advances secured by this Mortgage. '
<br />I) ~. Feuds leer lea ~sd Ice. Subject to apgticabie law or to a written: waiver by Lender, Borrower shall pad
<br />to Linder on the day monthlyinstalLmenis:of grincipafand interest are payable uoderahe Note until theNote ispaidin full,
<br />a sum i~arei^ 'Funds") equal to one-twelfth of Ltae yearly-taxe_c and-assessments 'which may attain priority e1'er-this
<br />Mortgage, and groti[td rents on the property, if any, pltts one-twelfth of yearly premium installments for hazard itisurance.
<br />plus one-twelfth of ycazty premium installments formortgage insurance, if any. all as ressonably estimated inieially-and from
<br />time to time by Lender on the basis of. assessments -and:billsand reasonableestimatcs thereof:.
<br />'~ Funds shall be held in an institution the deposits or accounts of which are instrmd uc guaranteed by a Federal or
<br />state agency (tncltxling bender if Lender is such an institution).. Ixndet shall apply the Funds to pay said taxes; assessments.
<br />ansurance premiums_and ground:.tents..Lendee may-notetiargefor saholding andapptying thi;Funds, analyzing said account,
<br />or vprrfy:ing and compiling sand assesstrrcasts and bills; unless Lender pays Borrower interest on the Funds and.. applicable law
<br />permcts Lender to ntake such a ehazge; Borrower and Ixnder may. scree-in writing at the [fine of execution of this
<br />Mortgatge that interest nn zhe Funds shall be paid ro Borrower, and allies: such agreement is made ~;r :ipliiicable ?aw
<br />regtares :rich interest to bt paid,'Leirder shall not trexegmred to pay Borrower any. interest or earnings on the Funds. 1_ender
<br />shall give to Borrower„ without charge, an annual accounting ~f the Funds showing credits and debits'to the ;=ands and the
<br />pitrpcaseMfor which each debit to the Funds was made: The Funds are pledged as additional see:urity for`ihe sums secure-ci
<br />_ ottpage.
<br />]T thramount of the Funds-held by Lender, tagefhcr with he future`mon[h!y installments of Funds payable prior to
<br />thcdue datra of taxes, assmmeats, irts[trance premiums and ground rents, shall exceed zhe amount required to pa} said taxes.
<br />aaswmeats, iastsan+x ptmiums;and gr+otind rents as they faR due,: such excess shall be, at Borrowers option, ~~ithcr
<br />promptly repaid to Borrower'ar eredit~ to Rt~rrower on monthly installments of Funds.' If the amount of the Funds
<br />heM by Lender shall`not be sttti£icitat to pay taxes, 'assessments, iasurancc premiums and ground rents as they fait due.
<br />Borrower :half pay so LtKrder any atnaunt nccessan• [u make up the dcficrency within 30 da}•s lento the date notice is mailed
<br />by Leader to:BOmower requesting payment thereof
<br />Upon payment in full of ail sums securtd by this Mortgage. L.cnder shall promptly refund to 8ormwer any. Funds
<br />6eJd by Lender. If under paragraph I S Lrerecf the property i.s .ofd or the Pmpcrty is otherwise acqurred by Lender. Lender
<br />:Anti apply, na lave than immediauly poor to the sale of the Property nr its acqujstnon by Lender, any Funds held by
<br />Leodar at the time of'applicuion' as a credit: against tht stints ,ewutrd by ihas Mortgage.
<br />d, AMikatllee of iryoeaas, Unltss applacabia law provides otherwise. all payments received by Lender under the
<br />Note std para=raphs i aM 2 hereof :Anti be applied by Linder-fits[ in payment of amounts payable to Lender ny Borrotw: r
<br />under paragraph 2 hereof, ihm to interest. payable on the \nte. then to the principal of the Note. and then to interest and
<br />principal oft nay F'warte Atlvancea.
<br />t. t^iergaw IiNa. Borrower shall pay all taxes, assessments and other charges; $ncs and ampositiuns attributable to
<br />the Prupetty which foxy atraun a prroriry nvw zhts Mortgage,. and Icaseboid: payments or gtnund rents, if;aay, in the manner
<br />protrided tinder p~arapaph L hereof or. of not paid in such manner, b}• Borrower making payment, when dot, directly to the
<br />P~Yae thereof- Horroercr shall promptly furnish to Lender ail notices oL amounts :fate under this paragraph,. attd in the event
<br />Borrower shall make paymnrt' directly, Bocrawer :half promptty famish to Lender receipts cvtdencing such payments.
<br />Botrowar sha8 praargly dirw^har;e any lien whech has prtahty over this Mortgage: provtded,'that Hmrttwer shall not be
<br />required to diachargt aey xtyclt lira sa Fong as Borrower shall agree in wriung to the pavtnent of the obligation secured by
<br />such lien in artsaona• seceptahkto Lender, ur shall in gaud fauh contest such lien hy, or defend enforcement of such lien in,
<br />Iegal proceedings which optn-ue io prevem the rnfon:rnrcnt ui the I,cn ter Eorfe[ture of tLte Property ore any part thereof.
<br />S. 1~ laeaa~ae. Botraxwcr shall keep the improvement. now exisung or hereafter erected on the Property insured
<br />agaiar Lm by flee, hazards trrclndad within the farm "extenucd ~,~verag', and such usher hazards as L.endcr may nyurc
<br />artd in weh,atrwtrnu and for such permds as lender may re[tuare; prnvidetl, that Lender shall not require that the iimounf nt
<br />allele arnta=r trcarod that amotmt of coverage required tea pay tlx: sums ucured try flies lvlartgagc.
<br />The itssunoce carrier proridint for iasuranne shall be chosen by Bnrtower subject to approval by tinder; provided,
<br />thu wdt appi'oval tisali not be uoteax3teabty «tii#theld, ?1H premkuma on insurance pni.icita shall be paid in the :manner
<br />provrded tinder paragraph 2 6erroE or, tf .not paid in xuch'manru;r, by 8trrrower making payment, when due. directly: to the
<br />iirprcaaoe:carriec.
<br />Ali tntuuaaee poitciea attd renrwak thereof shall br in form :,cceptablc to Lcndcr and shall includes"standard mortgage
<br />c)atue in fatror of and is form acocptaWesa Lctidtx. fielder ,hail have the rrght to hold the policies and renewals'tlicrrof.
<br />attd latrower:stral! promptiyturoish to Lawler ail renewal nouccs and all rectrpts of paid prcmiurns, In the event a~f los<.
<br />Borrower shall pvtlsrvtsept annex to the rirseraace cartierarrd tinder. Leader may rnakc penal a! loss if nut made promptly
<br />by Borrower.
<br />l;nle~ Lewder sad Borrower ahenwisestgrce in wrung, instuatrce proceeds shall be applied to restoration arrepair of
<br />the Property mod. Provided :tech r~oruron tsr rcpur is econwnicaliy tcasilsle and the security of this Mortgage is
<br />not thereby imparted. !( such nrstorsrrortur rcpatr is not econorirtcalty feasible nr if the seacunty of this Mortgage' would
<br />br imPat-rd• zhe inurtaaa proceeds shall be applied to the sums s~ucured by this Mottgagr, with the excess, if any, paid
<br />to Borrower. if the Property n ahttadcMad.by Hocrower. or 1f Borrower fails to respond io l.eoder within 30 days from. the
<br />date novae is mailed by Ludes to Borrower that tfic itisurarrce carrier atLers to settle a claim for insurance bene&ts, Lender
<br />u atrthortmd to coiket and apply the instuaace proofed: at lxndcrs option athtt to restoration or repair of tlrc: F"roperty
<br />or to the wins sectugf by thin hfortpyc.
<br />Utriea Leader and Botttosvrr otberwise agra m wrtuag, any such application of proceeds to principal shall not: extend
<br />or poatpaoe the due due of the mcmthly inataihtneats referred to in pangnphs I and 2 htrcof or change the amount of
<br />such imtallrrrcats. If ursder persyraph lg'he[rtsf the property es ai:quired (sy Leodcr, all right.:titie and interest of Borrower
<br />is a~ to any imtuaoce policiea'aad its and to the proceeds thereof resultias from damage to the Property prior to the sa}c
<br />or acgaoitioa :ball pau to Ltewler to the enteat of the sums warred by this Mortgage imrrr~iately prior to such sate or
<br />~~.
<br />i. ?Iitrrasiaa aattl lltainiprace of tra}aty+ l-e>trrreli~ Co~ia~witwanz Phtteed [Jail Dtvebpweetc. AOrrower
<br />*~ keep ~ ~ in good repair and atoll as commit waare nr permit impairmrnt or deterioration of thq Property
<br />sad shall comply with the ptroviaions of any<3eaae if than Mortgage rs on a Irasehold_ ?f ttiis Mortgage is on a emit in a
<br />coadomimum a a pfatnred unit develapraeat, Harrower strailperform all-of Borrower's'obligatrona under thedcclarauvn
<br />or rrveaaots creatirt; or governitrg the coadominittm or plaarted urn development the by-laws and reguiafions of she'
<br />cosrtfotniartrm a planned unit deveioprnerrt;-and constituent dos:tirrtrats. if a condommitim or planned volt development
<br />ride u executed by Borrower and recorded together wrth this Mortgage, ttte eovenanut and agreements i+f such nder
<br />shall lie intnrp[rrued into and shall amend acrd supplement the covenants and a
<br />greemrrtta of this Mortgage as rf the rider
<br />t-ue a pert hcreaf.
<br />L 7. ne.et~l.. of I.aa..ra S.criy. If Barrtswer fails to perform tht cnvenanta and agreernenu son;amrd in thi3
<br />Mortgage, or if aep acuon or proceexSiaj is cannaeoud which matetaliv alfecfs Letx€er's interest rn the Property,
<br />isftltadieg- ltut riot tittsiaed w. emarteret .itxaain, i>notven~cy. tttdc'rnfoteeitrrerit nr arraitgenscnts titpra7t:eealinti;n involving a
<br />kruitvpt or deeedurt, ttrcn E.eader a[ Leader's option, upon »gtice to Bttrrnwer. may make such appeararxcs. ,iralnirse such
<br />awns ae4 [sis such aIXi[xt u is nectwratyta protec[: Leader's:~nicrest. ~nc!uaing_ btrt not limited io. J,:hurscmcnt ref..
<br />rtaar~est.>1e +stutaey's fen sad carry ;zpaa flu Property tamake rcp.irt. IF tsnsder ruuircci mungage insuranceas. a
<br />~nedit+ixr of ,-saakins the lrritr secureef by rhts Mnrtgage_.Bozrcwcrshall p~} the. piemirars~..regocruY.to rrtaintaan such.
<br />irsatxatrca iii e~'ect trrtsrl :salt fillet as rhe,requ~irraoetrt.inr svcltitrstrraatc tcr;r,enatcs in accordance wsth Bomower's and
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