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<br />82--0516"'
<br />UtVOrORM CoveNSrt•rs. Borrower and Lender covenant and agree as follows:
<br />I. Payment of Principal sad Interest. Borrower shall promptly pay when due the principal of and in[erest on the
<br />indebtedness evidenced by the Nate. prepayment and late charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2, Ftmda for Tara and Itrwnace. Subject to applicable law or zo a written waiver 6y Lender, Borrower shall pay
<br />to Lender on the day monthly installments of principal and interest are payable under the Note. until the Note is paid in full,
<br />a sum (herein "Funds") equal to one-twelhh of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus otre-twelfth of yearly premium installmems far mortgage insurance. if any, all as reasonably estima[ed initially and from
<br />Bme to time by Lender on the basis of assessments and bills and reasonable estima[es thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency f including Lender if Lender is such an ins«tution ). Lender shall apply the Funds ro pay said taxes. assessments,
<br />insurance premiums 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 of this
<br />Mortgage that interest on the Funds shalt he paid to Borrower. and unless such agreement is made nr applicable Isw
<br />requires such inures[ to tin paid, Lender shall net be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits [o the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />by this Mortgage.
<br />If the amoum of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents. shall exceed the smoum required to pa}• said tares,
<br />assessments, insurance premiums and ground rents as they felt due. such excess shall he, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly mstailments of Funds. if the amount of the Funds
<br />held by Linder shall not be strfficient to pay taxes- assessments, insurance premiums and ground rents as they fail due,
<br />Borrower shall pay to Lender any amount necessary to makeup the Jeficiencp within i0 days from [he date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment rn lull of all sutras seCUred by :his Mungage. 1 Winder shall promptly refund to Borrower any Funds
<br />held by Lender. If tinder pazagraph iii hereof the Property is sold or the Property is otherwise acgmred by Lender, Lender
<br />shall apply, no lacer than +mmediattl}• poor to the sale of the Property or its acgwsition by Lender, any Funds held by
<br />Lender at [he nine of application as a credit against the sums secured by this Mortgage.
<br />3. Appliea#ioo of payments unless applicable law provides otherwise. all payments received 6y Lender under the
<br />Note sod paragraphs !and 2 hereof shall be appired by i.rnder firs[ m paymcm of •amounts payable to l..ender by Borrower
<br />under paragraph 2 hereof. then ro mteres[ payable on the 'vote, then to the principal of the Note, and then to interest and
<br />principal un any Future Advances.
<br />4. ittarSea: Lierts Borrower shall pay all razes, assessments amt aaher .hargcs. lines and tmpusinons attributable to
<br />the Property which may a«ain a priority over this ~torigagr. and leasehold paymems or ground rents, if any, in the manner
<br />provtded under paragraph Z hereof or, a not part m such manner, by Borrower making payment. when due, directly to the
<br />payee thereof. Borrower shat) promptly furnish w (.ender alt mtncts of amounts due under this paragraph, and in the event
<br />Borrower shall make payment Dtrecd}•, Borrower shall pnmpd} turnuh to 1-ender receipts evidencing such paymems.
<br />Barrowtr shall promptly Discharge any lien which has pnenn' u.-er this Mortgage: provtded, that Burrower shall not be
<br />required to discharge any such lien so lung us Borrower .hall agree :n ,u~umg [n the payment at the obligation secured by
<br />such lien m a manner acceptable to Lender. or shat) to gtx~a Ecuth antcst such lien by, or defend cntoreemcnt of such lien in.
<br />legal proceedings which operate m prevent the enforcement of the lien or iorfeiturr of the Property or ;m}' part thereof.
<br />5. Hasard Irestrrance. Bortower shuli kt~p the +mptt,vements now evsung ur hereafter elected on the Property insured
<br />against loss by fire, hazards included wnhm the term "eztendeU .overage ~. anJ such other hazards as Lender may require
<br />anJ in such amounts and for such penuds as Linder say regmm: provtded, that LenJer shall nut require that the amount of
<br />such Coverage exceed that amount of coverage rcyuueJ w pav the sums teatred by this Mortgage.
<br />The tnsurattce carver provrding the insurance ahafl t>E chosen 6y Burrower subject kJ approval by #.eader. provided,
<br />that such approval shall nut l+e unreasnnabty wuhheld. :UI premmms on insurance polints shag he paid m the manner
<br />provided under paragraph Z heretrt or.:f not patJ in such manner, by Borrower making payment, when due, drrectly to the
<br />insurance cazrier.
<br />Ali insurance pcBicies and rettew~aLs thereof shall hr rn tonn acceptable to Lcndcr :tnJ shall include a tandard mortgage
<br />clause in favor a! and rn form acceptable to Len+ier. Lrndtr shall havC the right to hold the policies anD renewals thereof,
<br />and Borrower -shall promptly furnish m LenJer all renewal uuttces and all receipts of paid premiums. In the even[ of toss,
<br />Borrower shall glue prompt nonce to the nuurance earner anJ lender. LenJer may make pre+ol of loss tf nut mode promptly
<br />by Borrower.
<br />Unless Lender and Borruwet utherwrs< agrce m wrung, msut once proceeds shall tse applied to rcs[oration ur repair of
<br />the Property damaged, provtdcJ such res[urauon or rrparr ,[ ocunomtcaily fcastble anJ the security of this 4lortgagc is
<br />not thereby imparted. If such rrstorauoa ur repair +s sot ecUOOnueally feast6le ru if the stcurny of this Mungagc wuu1D
<br />be imputed, the +rtstuance proceeds shall be applied to the sutras xcured by this Mortgage, with the excess, if any, peed
<br />to Borrower. It the Property is abandoned M Born>wet, ur d Borrower tabs to tespunJ to Linder wtthm 3U days froth the
<br />date notitt is madcd by Lendtr to Borxewer that the msuranu earner otfets w senle a Balm fur mwrance benefits, Leader
<br />is authoriiaf to collect and apply the insurance proceeds at Lender's option euher to resaxa«on or repair UI the Property
<br />or to the stuns setuttd by this Mortgage.
<br />Unless Lender and Borrower otherwise agree m wrung, any such applicauon of pnx:eeds ro principal shall not extend
<br />or posiporre the rice date ut the monthly installments relermd to m paragraphs I anJ_ hereof or change the amount of
<br />sttdr irxcta}ltmnts. !f trttdet paragraph 13 herwf the Property is acyuusYi by Lender, all right, title and interest of Borrower
<br />in and to any insuraaz:e policies and in anJ to the lu.x:eerls thtrrut resuluog from Damage m the Properly poor to the sale
<br />or acgttisruon shalt pass to Lender ui the extent ut the runts aee;ureJ by this Mungage unmediately prior to ,uch sale ur
<br />acgttitition.
<br />6 Preaa.atiaa arttd ytaigtenance of ProPtriY: Leaaehulds: t'ondanittiums: Platutied Unit lleveloprnients. Borrower
<br />shag keep the Property in good repair and shag nut commit waste er permu unpaument or deterioration of the Property
<br />seal shall comply with Litz pmvisiuns of any {ease rC-thn Me,ngage .s .,n a feasthuid. 1f this Lturigagt is on a non m a
<br />conJciminitun isr a plantted amt Jevekrprrrent, Borrower shall perform all of Borrower's obtigahons under Chu dcelaraui>n
<br />or covenants crcatatY or governing the mdomimum ar p{anneD amt dcveluptnnnt. the by-taws and rz~guiations of the
<br />~r+nz~~tiotvm ~~r p#atsa=rt +!r«t Jevtae3pnita6 and csrtstitt.•rnt aeuusnrnts. If :z ,onucus:inium ar planned unit cievtiapn;cat
<br />ridci is e>tseuttd tsv I3orrmw'er sari etc 7rt~3 ?ogetlttx with ibrs Mongagz, test ;uvansnts anJ agreements of such r;Jcr
<br />shW 6b introrpotatW rtuo arui sltaB atttcnd anti suppiemtnl the cuvtnunts anJ ugrremenls of this ~tnrtgage as d the rider
<br />were a pare hcrtat-
<br />?. PrsOntdaa of Leatdar'a 5ecmidy, If Borrower tads u, perform the rwcnants and agreements CuntamtJ m this
<br />Mortgage, ar it any act.cw cu prax,eedrng ss .ornmert: ril which matertaily atfats I riplcr'a tntarrsr in ibr P•oprr~y,
<br />htetitt&ng but not titruted to, cmtrtdu domain, insuivem-p_ suds craft rcemcn4 or ,,;+rnYCmeatx ur pnxetdings +nvolvutg a
<br />br[mYavpt or dacesiaati ihtn [ trafer at i_tttder': uphun. Up:in a.uttce to ktorrowcr. +t,e such :xpprarances, dtst,urse .uch
<br />url#a and take aurh acsuia Yes ix nz+eelwt5' tc, protect t-eitder'z ;nterrat. ~aduu,s,.. set nut lim«eD te, dtshursemrm rat
<br />rtmtos#abia a#tts[isayS (tea aa4 carry t+txat rtlG Prvpeny ;:~, make eepatrs, !t i.,:;nUtr trquireJ mortgage uuarance a> ;.
<br />e#joa u# making tlce- fuan ~urtJ by this Mongagt. B<~rrowrr sr!ali pa} the prttmuuts requuod to mainuuu u~cb
<br />ittwnantt in eTfarc# until such ursxr as the ttyutrentant for un`$ msuranct t_ nnmatc~ :n as a7rdaiicc wUh Borta,wer'x :aid
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