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82-- ii{;251'7
<br />IlxrroxHt CavExAx~rs Borrower and Lender covenant and agree as follows;
<br />1. P:rrnenf of Prindpat aed InMrest .Borrower shall promptly pay when due the principal of and .interest on the
<br />indebtedness evidenced by the Note, prepayment: ahdlatecharges as. providedintheNote, andthe principal: of and interest
<br />r vn any Future .Advances secured by this Mortgage..
<br />2. Fonds for Taxes acrd huttr~tce. Subject to applicable law ar to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly installments of"principal and interest atti payable under the Nate, until the Ngte is paid in`tull,
<br />a sum !herein "Funds") equal toione=£weifth of theyearly taxes and'assessments`which may;: attain proriry over' this
<br />Mortgagq and ground rents vn thb ?roperty. if any; plus;one-twelfth of nearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium instahments for mortgage insurance, if any, all as seas~nablyestimated initially and from-
<br />time to time by (Lender on the basis of assessments and tiills and reasonable:estimates thereof.
<br />The Funds shall lx held in an institution the deposits or accounts of which are-insured or guaranteed by a Federal or
<br />state agency (including Lcnderif.Lenderissuch art institution): Lender shallapplytheFunds to'paysaid taxes assessments,
<br />insurance premiums and ground rents. Lender may not chargeforso holdogand applyingahe Funds; analyzing said account,
<br />or verifying snd compiling surd assessments-and bills, unless Lender pays Borrowerinterest on the Funds and applicable aw
<br />permits Lender to make such a charge." Borrower and Lender may agree _in writing at [he tine of _execution of this
<br />Mortgage that irnerest on the Funds shall. be paid to Borrower, and unless such agreement-is made or; applicable law
<br />requirGS such interest to be paid, Lender shaltno[ be required to pay Borrower`any interest or earnings nn the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing;creditsand debits'to the'Funds and: the
<br />.purpose for which eaehdebit todhe Funds wasmade: The:Funds are pledged as additionalsecurity forthe. sums secured
<br />by this Mortgage.
<br />If [he amount of the Fundsheld by Lender,together with the future monthly installmentsof Ftinds payable prior to-
<br />the duo dates of taxes, assessments, insurance premiums and ground rents; shall exceed' the amount required to pay said taxes.
<br />atuessrnents, insurance: premiums' and ground rents as they fall. due, such excess' shall be, at Borrower's option, .either
<br />pmmprly repaid to Borroweror credited to `Borrower on monthly installments of Funds. If `the amount of the Funds
<br />: held by Lender shall ootbe sufficient to pay taxes; assessments; insurance_premiumrand ground rents as-they fall due.
<br />Borrower shall pay to Lender aoy:amount necessary• to makepp,the deficiencywuhin 30 days. from the date notice is mailed
<br />by Leader to Borrower requesting,paymenr thereof,...
<br />Upon payment in`full of allsums secured by this Mortgage, Lendershall promptly refund to Borrower any Funds
<br />held by Lender. Ifunder paragraph IS hereofthe Property issoldorthe Property is otherwise acquired byrtender; Lender
<br />shall apply; no later than immediately prior to the sale of the Property or its .acquisition by' Lender, any. Funds .held by
<br />Lender at .the. time of application as a credit against the sums secured by this Mortgage.
<br />3. Application of Payments. Unless applicable taw provides otherwise; all payments received by Lender under: the
<br />Note and pazagraphs 1 and 2 hereof shall brapplied by bender Eustis payment of amounts payable to Lender. by :Borrower
<br />tinder pazagraph 2 hereof, thenao interestpayabie on the Notc,then to the'principal of the Note; andtbenio interestand
<br />principal on any Futtue Advances.'
<br />4. f-~i f•ieoa5 Borrower shall pay all taxes; assessments and other chargea, fines and'imposi[ions a[tnbutable to
<br />the'Property which rttay attain a priority over. thts Mortgage, and leasehold payments yr ground. rents, if any„ in the: manner
<br />provided under paragraph' 2 hereof or, if ndt paid m such manner, by Borrower making payment,. when due: directly to the
<br />payee thet~eof: Borrower shalLpromptly furnish to Lender all notices of amounts due under this paragraph.: and in the event
<br />Borrower shall-make:paymenC directly, Borrower shall promptly furmshs to Lender receipts evidencing,such payments.
<br />Borrower shall promptly discharge. any lien which' has priority over this Mortgage; provided, that Borrower shall.: not be
<br />required to discharge any such Herr so long as BorrowershaL' agree in writing to the payment bf-the obligation secured by.
<br />such lien in a manner acceptableao Lender, orshail ingood faith contest sticb hen by: or defend enforcetent of such lien' in,
<br />legal proceedings which operate to prevent ahe enforcement of the.lien yr forfeuurc bf ehe Property ur any. part. thereof.
<br />S. ]Nniard Insnrance. Borrower shalfkeep the imprdvementsnow existing or hereafter erected on [he Prcperiyinsured
<br />against loss by fire, hazards included within the term "eii[ended coverage". =nd ouch other hazards as Lcrider may require
<br />andiin such amounts and for such"periods as Lender may: require: provided: that Lender shall not reyutre ahatthe amount vP
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
<br />The insurance carrier providing. the insurance shall be chosen b}' Borrower subject. r~ approval by .Lender: provided,
<br />thaGSUCh approval shall not be unreasonably withheld. 'All premiums en insurance policies .shall. be paid. in the mariner
<br />provided under paragraph thereof or, if not paid in such manner, by Borrower making payment, when due, dtrectly,to-the
<br />insutattce carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favofof and4n:form acceptable to Lender. Lender shall havexhe right [o hold the polii;ies <tnd renewals. therevt,
<br />and Borrower shalt promptly furnish to Lender. all renewal notices and al(receipts of paid premiums. lm the event of loss,
<br />Borsower shalt give prompt notice to the insurance catrierand Lender. Lender'may make proof. of loss if not rnade,promptly
<br />by Borrower. -
<br />`Utiless Lender and Borrower othetwtse agree m writing, insurance proceeds shall 6e applied to restoration yr repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the secunty,ot this Mortgage.:;
<br />noYthereby unpaired. If_such restoration or repair is rot economically leasable or'if the security of tiurMortgage would
<br />bt impaired;-the insurance procee~ts hall be applied to: he sums secured by this :Mortgage, with. the excess, if any; paid"
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lenderwithm 30'days from the
<br />datelnotiee ismai!td by.Lender toBorrower that the insurancecarrer efTersto senlc a'da~m for insurance'henefits,. Lender
<br />is autitarized ta'colleci and apply the insurance proceedsat Lender"s option,eithcr toresrorationor repair of the Property
<br />ar to the sums"secured bythis:Mortgage
<br />Unless Lender and:Borrowet'otherwiseagree m writing, any such application of proceedsto,pnncipal shall not extend
<br />or postpone the'due date'of the monthly installments referred'to in paragraphs- l and 2 hereof ar change,he amount of
<br />stick installments. If under paragraph i8 hereof the Property is acgwred by Lender, all right, Title and interest of Borrower
<br />inand tawny insurancepolicies and'in and tothe prncceds thereof'resulimg,fromdamage tothe.Property prior to the. sale
<br />oracgttisition shalt pass to Lenderto the extent of 1he..sumssecured by this-3ortgage immediately yrior.to sucksa]e yr
<br />aCQWStnOn.
<br />6. Pret::nafx+n and Maintenance of'Property; .Leaseholds;Condominiums; Planned Unit.Devclopmenis. Borrower
<br />shall keep the Property in good repair and shall not commit waste. or permit,imparrment or deterioration of the Property -
<br />and shall comply with the provisions ofaoylease tf this lvlortgage..ts onaleasehold. If thtsMortgagc i~bn :i union a
<br />condominium ors planned un~.-deti~elopmene,-Borrower shall perform ail of :Borrowers. otiiigatinns undcr~ the declerarion
<br />or covenants creating or governing [he .:ondomtniumor planned::unit development,. the by~iaivs. and regul,auons of:the
<br />condominium or planned unit dereiopment,'andconstiutent documents. 1f a. conaominiunior planned unit development.
<br />rider is a:xecuted by Borrower snd revrdeutogether with this Mortgage the covenants and:.agrezmctitsoisuchrider..
<br />shall be. iacvrpvrateu into and ;bait :mend and supplement tl:e covenants and. agreements of this Mortgage as iC the iider
<br />were a part hereof.
<br />7. Protection of Lendtis !Security. IC &~izower furls to perform the covenartsaad agreements contained inx}ii~
<br />Mortgage; or if any action ,,: prcxccding i commenced which materially affrn',[5 f.endcr's interest in ahe Priiperty,
<br />including. 6u[ not Eraitrd to.:eminent domain. insolvency, code-enf~rcement..orarrangetnentsvr:proceedings iirvotvng: a '
<br />banlrupt or decedcm_ ibex I~ndcr at .,ender; ~zptrut., upon no*.ice ao.Borrowar, may rztakcsucfi apputrances, disburse such
<br />sums end take such action ;u is sec ~ar•; :v prote;a Lender's interest, including, but uvt limiiedto, eiisbur€trtient of
<br />resonable actor-icy ~; :e~ex tad ;,nt:y ~po~: the !'rcperr; to m~isc reports. 'ti t_rnder.-equtred martgagaittsuranceas a
<br />coadtuou o; muktrg the Ivan secure h t^ -, 1¢ tgage, }3c4r ,~.: ct sr :!' pa} the p~remiunv resluirrd to tiiaia#'sin sorb
<br />itssw-arr.- in eifct 'antic such. nine cs the -cc.~lremen:. foi .tie-: .n,~ur:nncer turmihatasir, accordance: eatlx Sot rowa-Y std
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