|
<br />6,i srrra,it;dr 4~i. ~, ~..~-r;s. 3atiraiwr~r grad i~:r:e»r ~avri:~ ~ ~nr~ ;~~~r _ E.; l.il3:.-~s;;,;
<br />2.. ll~'a~i:sivmeall; ~,siF IE"i''€r~°i}past and iattrlrfl;slt. }r5arrn~eh ihal!i prc.~tnfitl'f ,-it;~ :.t=r.^, ?a[n ~.:~ pFincipal ai` sired ias,l.r.:r~¢ ;:,-t~ .}a¢
<br />i~ttu,llis><^aite~;la^^~t+~,r~~u m,~~v~iilia.n~ced by time P'+Cate, t~rupayrna4eiae aGnci i~a~ c~Ps„rg~es as iaz~c•>niist~d~ its ~t~ri~r.~~ Tdot~e, Brad i:Frz p~rincip;p r,H,° and dnkiet~it
<br />an -.y utur., Adv..._,.,,,, .v.,.srsd ~,~ till, iLfax;ase
<br />u~, JFnaiss for Tt[ses and sttranee. Sue;:.c za a?=ni=.eaie 1a;4 az t~ a :~'r=.ts~s waiver b~ Lender. rsorrawer snail 7sr'
<br />to Lert~-[er an t:~ coy rs?athiy instaiimenzs cf principal and intermit are paeahte ±snder the --:~eatc, until the flat;; is paid in tali,
<br />a stun tltersin "Fun:~,s" 3 equal to ore-twelfth of the yearly taxva and assessments »-Mich Wray attain priority over t:7is
<br />Mu~fgag, and ground rents an rite Pronsrty, if any, plus aa_ fwelfzt at' yearly prep-uum installments for ha<ard insuranc:,
<br />pies one-tweiftt of yearly premium installments £ar mertgage insurance, if any, al! as reasanahiy estimated initially aad from
<br />Lme to time by Lender an tits basis of assessments and hills and reasonable estimates thereof.
<br />The Funds shall hi; held in an insti€utten the deposits or accounts of w}-ieh are insureel or guaranteed by a Federal ar
<br />state ag~:t=.y firc}uding I~=.der if Lend»r is ;uch a n ias;itution). Lander site„ apply the rands to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge for so hclding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and hills, unless Lender pays Harrower interest an the Funds and applicable law
<br />perrnifs I Ftttter to make such a ctar~. Harrower and Lender may agree en writing at the time of execution of this
<br />Mortgage that interest an the Funds shalt be paid ea Borrower, and unless such agreement is made oT applicable law
<br />requires s+?nh inter4.,t to be paid, Lender shall net be required to pay Borrower any interest er earnings on t"ne Funds. Leader
<br />shah give to Horrawer, without charge, an annual accounting of the Funds showing credite and debits to rte Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additianai security far the sums secured
<br />try this Mortgage.
<br />L the amount of the Funds held by Lender, together with the future muathly instait;nsnts of Funds payable prior to
<br />the dui dates of {axes, assessmenu, insurance premiums and ground rents, shah Exceed the amount regilircd to pay said taxes,
<br />assassntsnts, insurance premiums and ground rents as they fail due, such excess shall be, at Honower's option, either
<br />promptly repaid to Borrower ar credited to Borrower an monthly installments of Funds. If the amount of the Funds
<br />hold by Lender snail no{ 6s sufficient to pay taxes, assessments, iusstrance premiums and ground rents as they fail due,
<br />Harrower shat! pay to Lender any amount necessary to make up the deftcieney within 3d days from the date naYice is mailed
<br />f>y Lsndsr to Harrower requesting payment thereof.
<br />Upon payment in full of ail sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragrapi. Ili hereof the Properly is said or the Property is otherwise acquired by Lender, Lender
<br />shah apply, no later than inamediatet}• prior to the sale of the Properly or its acquisition by Lender, any Funds hefd by
<br />Lender at the time of application as a credit against the sums secured by this ~iottgage.
<br />3. A~Skrdton 6f Payst€n~. LJnfess apphcabte law provides otherwise. ail payments received by Lender under the
<br />_ - ,.. i.la e.. i e..Ae~ F,.. YL~~~.,.,r~r
<br />° -d tr<rag, aphs 1 - here~;•c-f shall b;: a-spited t -- - .n t;Ay ;era - ..,~ ...... ,..,
<br />uaderaparagraph 2 hereof then to interest payable on the Note, then to the principal=~of the~~ote, and then to interest and
<br />principal on any Future Advances.
<br />4. C'~ Lam' !rs~ Harrower shalt gay ail taxes, as~ssmsnts and ether charges, fiz~s and imf.~sitions attributahie to
<br />the Property which may attain a priority aver this Mortgage, and leasehold payments ar ground rents, if azty, in the manner'
<br />provided under paragraph 2 hereof ar. if eat paid in such manner, by Borrower making payment, wheal due, directly to the
<br />payee thereof. Bar_ower seal! promptly furnish to Lender ail notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borrower shalt promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shah promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shad pot be
<br />required to discharge any such lien so loop as Horrawer shall agree in writing to the pa}'meet of the abfigatian secured by
<br />sash Herr in a manner accsptahle to Lender, ar shall in good faith contest such ii~n 6y, or defend eafarcemeni of such firn in,
<br />regal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property ar any pan thereof.
<br />S. Heaard insora[rce. Borrower shaft keep the improvements now existing ar hereafter erected on the Property insured
<br />against loss ty fre, hazards included wisSin the term "extended leverage", and suet other tzia,~ls as I.ez:dsr r ;ay r~uire
<br />apd in such amounts and far such periods as Lender may require; provided, that Lender shat} not require that the amount of
<br />~'rh gage ;v :ce<d tho`~t amount of caves agr requireu =a pay the sums swur~d by :his l~iar€ga~ .
<br />'l2~a i=+-urge ~r ~rnvietena t'~ ~~ .h~lt'#~ .=hen h.: Rnrr€?wer auht~-sir t~ aparnY~} by L~pda'r_ {travid
<br />that such approval shah not be unreasoaabiyrwithteid. Ail premiums on insurance policies shall be paid iz[ tl~ manzxr
<br />provides under paragraph 2 hereof or, if eat paid in such manger, ty darmwwr making payment, when due, directly to the
<br />i~~.r,r,~ carsie~•,
<br />art i~rst~sance npLici~s afld r~tewais z~_ *~i .s~°ii ~ in iarni ac-sc+?zabis tE Lender apci sizaif include a sianaaa zi:ar~=
<br />s:rait`ae m r.,Ya. v wnv an ,u .,..c-,r{aale i0 ts.r~rF. i.Y: wx ~nwli :Ia.~ i :C T{T',h[ iC ii~:d :1`,~ ~y'i)li~li5 ki:d iL~.E.'x~SS ~:~'~ s,
<br />__~~gz,~~ti a , _ __ _ _ __ -__ _ -_ _~ S ~ _- it..~ - __ _ _ 3r~a -_ ~.f.~
<br />-.rte .... -,~.-. ~ --'~..`~ z.. ~-.. c.. c.....~......r c.~..°.. a.~.. z. ....~.. per....: ..-~ -..~~.~ P z.-. -r.. ._-r .~ a. ~. :...-~_ s ---tea
<br />by Hort'awer.
<br />Upiess Sender and Borrower atharwzse agree in writing, iasuTanec proceeds shall £ie applied to restoration ar repair rf
<br />the Property damaged, provided such restoration or repair is ceuaomica}!y feasible and the security of this Mar:gage is
<br />snot !hereby impaired. tf such restoration or repair is not economically feasible ar if the security of [his hSartgage would
<br />be iaapaieed, the insurance proceeds shah f~ ;applied to the stuns secured by this Aiongage, with the excess, if any. paid
<br />to t}orrowsr. If the Ptoperty is abandoned by Harrower, or if Borrower fails to respond to Lender within 30 days £rom the
<br />date ttati;,e is mailed by Leader to Horrawer shat ttte insurance carrier offers zo settle a claim for insurance benefits, tender
<br />is authorized ro collect and apply the insurance proceeds at Lender's option either to ts'storation ar repair of the Property
<br />or tx± the s[[[ns secured by this Mortgage.
<br />t)piess~ Lender and Harrower uthenviu: agree in writing, any such application of prcn:eedc to principal snail eat extend
<br />or postpone rho due data of the monthly installments Tsfsrred w in paragraphs l and 2 hereof ar change the amount of
<br />such instaiitnems. if urd~;'x} paragraph tg hereof the Property is acquired by Lender, al! right, title and imerest of Horrawsr
<br />m and tP any mfsitTanee pal[cEt',$ and to .91rd to cite pic'k;~i tnersof F~aitmg ITilm damage {a the Prlp3i'C{T pFiar to tltt sale
<br />ar acquisitiap shall pass to Lender to the extent of the sums sscureii by this Mortgage immediately prier to such sale or
<br />acgtdsitioa.
<br />b. Pt{rssnutlaa ~ Maltztonsnce of Froporty. Leasehold: Capdomiaiua[st Rtantted t?alt I~veloptnenis. Harrower
<br />stall keaD fee PTO~r[Y in rood repair and shall not commit waste or tssrtnst impairment or deteriaratian of rite Property
<br />and sha37 comply with the ~irtsvisittus of any lease if this Iviottgagc is on a lras~hold. if {his ;~iartgage is an a unit in a
<br />^.,a:ua;:rii,Eum er a pi~ir.cd tu--tit d~svaiag,F~rt, BaPra-HIer snail l`~t~arm aif of ;3o,:a°.:sr's ~; heat:.=rte tztrder tfze :~.°lar„tian
<br />ar covenants creating or gaverniag the aondaminium ar planned zmit development, the by-laws amt regulations of the
<br />csat[dcmiuit{rn ar planned taait development, ar~d eon~ituent dacum~nts. if a cat~dominium aT ptaaaed unit dcvelapntettt
<br />rider is exz~ured bj+ i3orrttwer and rer.•orded tagethaf vvirh this Mortgage, the covenants and agreements of such rider
<br />shall bs incorporated into and shall att[e[zd aad supplement the covenants and agresnterzts of {nix Mangage as it rte rider
<br />were a part he_reol',
<br />7, Sstirtecti~ of iC.euder's Sestrsl4y, if llonower fails to perform the covenants and agreements contained in this
<br />Mortgage; or if acs~n dr groceed'irtg is cr=intnnsnced wfti<; matsriali}' »d'~~w Leei;en's iatffra?t in tree P.aperty.
<br />iat:Itta..i,:p„ cwt trot limited-to, eminent damaip, fnsoivsnsy, cads enforcement, ar arrangements ar proceedings involving a
<br />baiiltritgf or dscsdeitt, then Lrndertit Leader's option, upon notice to Harrower, may make such appearances, disburse such
<br />stttsts attd take s,tgh action as is necessary to protect. Leader's interest, including. but not limited ta, disbursement of
<br />i.i gtfVrrn~u'e .~ „~.f ..n,r,r , n t1T {l rr r~ ee~Le r If t Pnri,.r .,i.a,i mnrrasao ,trnnt•a A
<br />rnaanna _ ~ ra.~ ..~~.,. i,c _ c a
<br />d:i of ... wnn.ar;.,, -or'es' £vua ~_ M.. L'~ 16.a - tt,. ..t~I i' ~ - .mod
<br />can ,uu fi '.tmti „y t,.t ~„~a~,; .. = Kav the. pre .=,u.., `equi. mainroin ...ch
<br />'s_~-rgEr~~ +_n w~e~r LntS1 gs~ tires as.t_he- m~giremg4t fir s,feh~i2ESr~~+-~ t~rr{iin~E~'v in a~~ardance withv l~artai~uzr'sf az{d
<br />
|