|
,.,.~.,.~... ,~„C,9L„-c,, ,__ sscrrc:=er ,~.<d Len..... _,_ _..._-.. _...,. _ a_ -....~ .>.
<br />€. Pttpnten# n# Prixt~i attd #nt~r~-#. ;~or_. -'~r stall ~*a;rzti'x ;ra=; n the a; s.:iuz, ,. _ . , '=_=
<br />_ ° Y....
<br />inc~b'_^.,~r -_`- e=thus°d by t d ?fete. _;:regayr>:enc Nr:c' ivt_ .har~¢~ a~ ~ra~;:.~., ~r. z.._ _';et2- a~±d ?~ -,nciQal c~~ st=d ~nt2r~'
<br />cn any T'i~ 3r± -^14E1',2s3G2Ta SG Y~rrU bj Fhi`~ .'~1Grf Y'~~i'~E.
<br />I<`:.u f~° ~Rr atad I~ --=,=3i~, ,--- ,~ ._: __ t? - tiFa r~ rz,.r7wer <h~I?
<br />tc L2L4~r on the da' rnonthiv installments of principalsan`dJin?crest are payabl2`=ir_der the ?J ate, un?il tla:; 'stole is paid in foil,
<br />a sum ;Iie:-eir, "Fun:ls"j 2-qual t;, o,e.wslft ~f the yearly t =es and a:s~ssn•e.^.ts c; ii;=~h r~aya'.~tain priority o~.r tits
<br />i+Iangagc, and grnund rents en the Property. if ary, plus one-twelfth a{ yearly I;remium ins?alim2rts for haz-srd iiisuranc2,
<br />efts c-nt:-iw•el€th of yearly premium in_tailmsitts for .~ongag2 insttranc2, if any, al3 as rsasona'cI;' estimated initiali:• and item
<br />tune to time by Lender on the basis of assessments and bins and reascnabie estimates tlieresaf.
<br />'l:~s Funds shad l;c hzid in zs institution the deposits or accounts cf wla~cli are insured cr a aranta;d by a Fed2rml or
<br />state ancv tinc3udins Lender if Lender ;~, ~,,._h ~ . ~_~_ t~i;r:a;, ~,. -- shad aYV'sy the =-ands t:, par said taxes, asse°.u:ents,
<br />insurance premiums and grnund tens. Lender may not charge for so }acldirg and applying the Funds, analyzing said account,
<br />or vcrfgang and ca .mpilirsg said assss3'nt2nts and hilts, un}ens Lender pays Borrower interest an tl:e Funds grid applicable taw
<br />~rtr=-its I.`ariber to make such a charge. Borrower and Lender m agree in writing at the ttne of execu?ion of this
<br />.,_, Mortgage that interest on the Funds shalt b2 paid to Borrower, and unless such agreemem u made ar agphcabEs taw
<br />,,~, require such interest to be paid, Lender shall not tae required to pay Barrosver any interest or earnings on the Funds. Lender
<br />~` -snail gi~'v' to $orrower, without charge. an annual accounting of tt;e Funds showing credits and debits ,o the Ft•nds and the
<br />purpose for which each debit to the Funds was made. Ila2 Funds are pledged a"s additional security for the sums secured
<br />~.~ b4~ this A4ortgags.
<br />9 I# the amo.mt of the Fords held by Lander, tog.th2r with the future monthly iastallm2nts of Funcis nayabte prior io
<br />~( the due dates of taxes, assessments, insurance premiums and grnund rents, snail exceed the amount required to pay said taxis,
<br />i-.,~ ass=sstttens, insurattcs premiums 2nd ground rents as they fall due, such excess shalE be, at Borrowers option, either
<br />promptly repaid To Borrower or credited to Harrower on monthly installments of Ponds- If the amount of [he Funds
<br />held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fail dos.
<br />Harrower shalt pay to Lender any amount necessary to make up the deficiency within 34 days from the date notice is mailed
<br />by Leader to Borrower requesting payment thereof.
<br />Upon payment in full of alt sums secured by this Mortgage. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph i& hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />sha13 aggly, na Iater than immediately prior to tfie sale of the Property or its acquisition by Lender, any Funds held by
<br />Lender at the rims of apgllcation as a credit against the sums secursd ty this Mattgage.
<br />3. ,~ppilcttiiut of Paymertts. Unless applicable law provides otherwise, ati payments received by Lender under the
<br />i~inte and paragraphs l and 2 hereof shall ire applied DY i_2nder fli3i is pay~snt o ~; i; payable to Ls :der by °^rrnwes
<br />under garagraph 2 hereof, then to interest payable on the Note, then to the principal=of the Note, and then to interest and
<br />principal on any rotate Advances.
<br />4. ~sg~; I.i<n.:. Borrower shall pay all taxes, assessments and other charges, fitter and 'impositions attributable to
<br />the Praraerty which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manner
<br />provided-under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directiv to the
<br />payer thereo€. Borrower shall promptly furnish to I.snder alI notices of amounts due under this paragraph, aril in the event
<br />Borrower shall make payment directly, Borrower shall promptly furnish to Lsrtder receipts evidencing such gavmsnu.
<br />Borrower shall promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shall not be
<br />required xn di~harge any such lien so Yang as Borrower shall agree in writing to the payment of the ebiigatinn secursd by
<br />s4_=ch lien in a manner aecsprab;s rn t sndeP, or shall in good €aiffi contest stack Lien hy, nr defend enforcement of such lien in.
<br />leper proceedings which operate to prevent the enforceritent of the lien or forfeiture of the Property or an} part thereof.
<br />5. Tiaaard Insurenec, Borrower shall keep the improvements now existing or hereafter erected on the Progeny insured
<br />against Ions by fire, hazards inchtded within the term "extended coverage", and such other hazards as Lertl°.r may require
<br />and in such amounts and for such periods as Lender may require; provided, that Lender shall not esquire that the amount of
<br />suit coverage exceed tlxat amount of coverage required to pay the sums secured by this Mertgags-
<br />'I~s ;~taT9^.ss cart5sr gr^vading the in~.irancs shall bs elaossn by Borrower subject to aanrovai by Lender. provided,
<br />teat such approval shall not bs unreasonably withheld. All premiums on insurance policies shah 6e paid in the mattnsr
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, ditectls to the
<br />insurance carrier.
<br />alI insurance not ties and renewals thereof shalt lac is form accsptabie to Lcstder and shall inClitd2 a -tanda.d me='igagt•
<br />elatsse in iavar of anti in fnrtu ascsptabie to Lensfr:. Lender shall have the right is hold ih2 policies and n~wais f;:ersof,
<br />le.vwsr _: j 4;~a;,3y t i= to :.coder au oat n , ; re_W~pts at paid ., mi=.mc_ In t~ event o_ _oss
<br />~^ ..u ~~- >_ = pi ~: ~~..~tc d:s .,.~.,,=.~P ~=?:Yr ar..~t t~,,,dAr.tl L~nFrPr t,,,a; r:R'~ ~ oo€ of I B r:3it Riau v+remn[!y
<br />by Borrower. ~ .~~ ,. ,~~ =r_~. .
<br />Unless Lender and Barower otherwise agree in writing, insurance prucceds shall lac applied to restoration ar repair of
<br />ins Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
<br />not thereby iatpaired. If such restoration or repair is not economically feasible nr if the security of this Mortgage would
<br />lac unpaired, the insurance proceeds snail be applied to the sums secursd by this Mortgage, with the excess, if any, paid
<br />to Borrower. if the Property is abandoned by Borrower, ar if Borrower fails to respond to Lender within 34 days from the
<br />date notice a mailed by Lender to Bnrrawer that the insurance carrier offers to settle a claim for insurance benefits, Leader
<br />is authori~ to collect and apply the insurance proceeds ai Lender's option either to restoration or repair of the Property
<br />or to ills suttts secured by this Mvngage.
<br />Ltnlsss Lender and Borrower otherwise agree in writing, any such application of pxixseds to principal shaft not extend
<br />or postpone the due dais of the monthly installments referred to in paragraphs t and 2 hereof or change the attinunt of
<br />such installments. If under paragraph 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />in at;d to ;,ny insura:::x polic=es and ire Rod to the pra~se~is thereof resulting from damage to the Property prior to the sale
<br />cr acgttisitiett shalt p€tss eo Lettdsr to the relent of the stuns secured lay this Alongage immediately prior to such sale or
<br />tta}ttisidon_
<br />f. pra~ervstlus tmd I-geintenaace n# Property; Leaseholds; Caadornluinats; Planned Utah Devclopnteuts. Borrower
<br />shrill keep the Property in good repair atxl shall not commit waste or permit impairment or deterioration of the Property
<br />ate shall-camp#y evith the grovisiarts oft any leans it t#tis ~Iort$ags is on a ieaseiaoc#, If this Mortgage is ott a unit in a
<br />c.A ~` tititttn ar- tp ~ trait =!avvlot, Bis+ rower slt~~ll ps€fnrm all of Ilormwsr's ohligttions under the declaration
<br />or covenants creating or governing the condominium ar piatinad-unit devsfoptnent, the by-laws and regulations of the
<br />eomlorstiniutn or planes atilt devslgpmani, RBQt-eortstitttent skxumenfs. Tf a condominium sir plan~sd unit dcveinpmsnt
<br />ruder is ikautEU by rnsarsr atad recai4led together-with this:-Mortgage, the- covenants arnI :tgteemsnis.af stick riser
<br />shaB~re_ittcorpgrabgd Into-and_shall ttmeod anti su~afetitent the evvenartts and agreements of this Mortgage as if the. rider
<br />- - --
<br />were a mart latent - - -
<br />$, Pt'ofae_Bom of ~ 9ecosBy: If Bnrrawer-fails to perform. thx covetiatits and agresmsnts contained in [his
<br />Mectgage, or if. ang acticas ~c $r+ticeedie; is couuttztaced which materially aI"seC#s Lenders uitersst In the Property,
<br />itisitsdEng, tilts-not limited to, emiaent dtamtain, in~lvertsy, code enforcement; or arraiigemerits or proceedings involving a
<br />ha>ikor°sieC~derrt~'i$srt Lettdes ai Lugs optiota; upon entice to I3orruviet•; tttay-make suc.It appearances. disburse such
<br />stietas tined :eke ouch a_ ctlon as Is- ttecsssary to 'pmts st Lt;ndet?s inf~t'est, inchtding, but not limited to, dis}sursem2nt of
<br />reasnna attotatry's Fees- and catty upon .the Property ts~ rnake repairs.. If .Lender required mottgage insurance as a
<br />en.s3iti3,r€ ct Miil;i~a the loan cured-by -this- Mortsars, Borrtatver shall pav the premiums required to maintain such
<br />insurance in-effect until suet's time as ttrs requirement for such insurattcs tertninsies in accordance with Borrower's and
<br />
|