|
<br />as-~ oc}73~~~
<br />UNIF6aM t:,ovexexrs. Borrower and Lender covenant and agree as fellows:
<br />1, Paymeaf of Principal sad Ivteresi. Borrower shalt promptly pay when due the principal of and interest an the
<br />indebtedness evidenced by ihz lvotz, prepayment and Tate charges as provided in the Nate. and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2 Fends for Tam tend hest:mace. Subject to applicable law or io a written waiver b}' Lender, Borrower shaft pay
<br />fo Isnder on the day monthly installments of principal and interest are payable under the Note, Lentil the Note is paid in full,
<br />a sum (herein "Funds") zquai to one-tuetfth of the vear'sy rases and assessments which may attain priarity over this
<br />Mortgage, and ground rents on the Property, if any, plus ane-tweltth of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium installments fur mortgage insurance, if any, all a4 reasonably estimated initially and from
<br />•nt to time by Ixader oa the basis of assessments and bills and reasonable estimates thereof.
<br />The Toads shag be held in ae institution tire, daposi[s nr acconat4 of which are insured or guaranteed by a Federal ar
<br />state agency (including Lender if Lender is such an institution). Lender shat! apply the Funds to pa}' said tapes, assessmeah,
<br />ittstrtance premiums and ground rents. Lender may oat charge far so holding snd applying the Funds, anal}-zing said account.
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest an the Funds and applicable law
<br />ptrtnits Lender to make sash a charge. 8arrawer and Lender may agree in writing st the time of e_~ecution of this
<br />Mangage that iaterrsi an the Funds shall be paid to Harrower, and unless such agreement i4 made ar applicable law
<br />requitrs su:.h interest to be paid, Lender shall not be reyuimd to pay Barrower any interest or earnings on the Fund;. Lender
<br />shall give to Borrower, uithoui charge, an annual accounting of the Funds shaving credits and debits io the Funds and the
<br />purpose far which tech debit to the Funds u•as made. ~Ihe Funds are pledged as additional severity far the sums secured
<br />b7 this Mortgage-
<br />If tht amount of the Fnttds held by Lender, tagethzr with the future monthly installments of Funds payable prior to
<br />the tfiae dates of races, assessments, insurance premiums and ground rents, shalt e.~cezd the amount rrquired to pay said tares.
<br />asstssntents, iasuranx premiums and ground rents as they fall duz, sach excess shall be, at Borrower's eptian, zither
<br />prnmpd}• repaid io B<+rrower ar credited to 13armwer nn monthly installments of Funds. if the amnunt of thz Funds
<br />hdd by Leader shall not be strificitnt to pay races, assessmenu, insurance premiums snd ground trots az they fsll due,
<br />$ar.•awer shall pa}' to Leader aav amount nte'tssan' to make up the dzhcizncy within 30 days from the date natitY is mailed
<br />by Lcrular to Bartowrzr tequtsting pa}mart ihereaf.
<br />Upon payment in full of ali suite secured b}' tttu Mortgage. Lender s':tall pramptly rrfund to Borrower any Funds
<br />ltdd by It©der, If trades paragraph 1S hzreof rhz Prapzn} :s s<~Id or the Propeni :s othetu•isz acquired b}' Lender, Linder
<br />- - - _. ~ -. - -` - -- -- '-- ----`-'~__ ~_. :__~.._ __„ r.._~r_- aura w~
<br />shall apply. tto later lean immematzty prtnr to ttx satz nt mz napzm' or ns acgmsrucn _ a.rr,arsi. _ . u.,..~ ~.~,^ i,J
<br />Linder at the runt of applicatieat as a credit against thr sums secured b}' this Mortgagz.
<br />3. Appiietstlba od Payttaeag. Unless appticahlz law pra.idrs athzrwise, all payments re~ivtd by Lender under the
<br />Note and paragraphs l and > herea?t shall 1x applrzd h}• ixndtr first m pa}went of amounts pat'ablz to Lender by 13armwer
<br />ttndtr paragraph '_ berm, ihtn to interest payablr an the Note, then to the principal of the Notz, and then to interest and
<br />principal on arty Futtax Advances.
<br />i. Cu=es, I3rss. Ba:zraucr shall pa}° all ta.~zs. a~sr~r[xnts and other charges- fitxs and impositions a:tnbutable to
<br />the Pirap!GRL}' which may attain a priority aver u'ti4 Mortgage, and leasehold payments or ground rents, if any, in the mantxr
<br />ptnvidrd undo par'agtaph 2 htrtaf ar. if trot paid tan strr=h mannrr_ by BarmuYr making pa}'mart what duz. dirxtly to the
<br />psvae thczmf. BrerowzT shall ptcnnprh furnish to Lender all nnirczs of amounts due under ibis paragraph, and in the overt
<br />Borrower shall tttake pa}marl dirtcLly, Rarr~uYr shall promptly famish to Lzndzr reczipts rvidencmg sue:h pa}menu.
<br />Baarou'u S1sall psxitaptly di5Ch3S'gt err}' lltn wnt+:rl 1134 prronty a\'rr zh24 Mangag'-; pre\"li~taj. Lh3t BINFa\Ytr Thal) nal bt
<br />i'tYitF;r'Cd a? dis~arge any stt~t lien se k.ng as )~rrou'rr shall agree in w~ritrng to rhr pavtntnt of the ahbgatic•n steered b}'
<br />strt:h Iitm is a ^^°^M* acncptahle to ixader, ar shall ir. gard faith cnnizst such lien by', ar dtftnd znforcrment of s:~h lien in,
<br />3ega1 paa~mdiags >i-hic6 apcrate to prtveat the cnfartxmeai of the Lien or forfz;ture of the Prapen}` nr any pan tho:rof.
<br />S. liiaan3 #awrotr_ Borrower shall keep the unpmvtnxn[s raw ztis•rng x htreaftct' zrrcezd ozr ttu Pr.\pr:t}• tnsurrd
<br />against Ions bg fur, darords inctudod within tliz term "e\tcnded coverage", and such other har9rYt< ss Lender ma}- inquire
<br />and is stmt aarourts and far sLxh puiads as Ltv.:cr may require; pr«vided that Lender ;hall oat require That the amount of
<br />sixh,,--,tvttagr tsatxd that amnunt of co\rrage rtquirtd to pay iht sums srcurrd h}~ this Mnrigagt.
<br />~e imairttacc cattier prt~viding the insuranx shall be ch.^.sen M' Banawzr subjrrt to approval b} Ltndtr, provided
<br />that stt~-h aPProvYl steal: teat he unneasanably ui2hheld All premiuttts ur. insurance p~tiicits shalt bz na: ± in the manrur
<br />pattvi3ed tmt3tr paragray~t 2 hrsmf ar. ri oat paid in sLn-'r ittanazr, by Borrawcr marine psym~t, whin der, dizrcti}' t, the
<br />ta~tttaax cartiv.
<br />All «~ r.,a,Y policirs an.fi rmew'als tfitre~+i shall be in form acczptabk to Lzndrr and shall incltsdt a standard mortgage
<br />clstsse ar favor of and is form a„^xptaNr to Lender. Ltndzr shall hatz the right to hold [bt policizs and rentwats thereaF,
<br />~:.,,. ,,. s~.arl ~_....~y f%*~ to Lra=~r all r~__w3t n4~rs asd a_tl re<~tipts of paid premiums. In the e\cnt of lass.
<br />acrrsatvtr shall give prompt rtottct io the iasuraa~z ~rraer and Lender. Ltndrr ra} makz prow; ai lass d oat tnadt prempt!y
<br />~' Batraa•cx.
<br />Uaks Letidea and Borratvtt .aftcnvise egret in w;inag, iasuranct prxzeds shad )x applitxf to testora[ian er ropair n#
<br />the Pr>apert} damagatl, provtdat suns irstannnn ~r rrpair is zs\?n<imically feastlale and zht security of this ~lartgage is
<br />ra+t there3+y'arepaue3 If soh rrstarasarr tut reparr is oat z:xaxnscall}' trzvhle ar tt tix cunt}' of this bfortgagz w~auld
<br />bt raap+iraa, tltt ~=*•*aN n~a~eeds shall bt appiitd to Lhe sums stcut•ed h} this 114attgngr. with thz e~crss, if ar.}, paid
<br />to Sain-aver. I; tae Prvprn} is aiunduttd b} Bairmwer, , r ii Bar revert iai3s t~ responc io Lzndzr uitlsin 30 da}'s fn~m the
<br />a#att oataY a rrtaikd lay Lemier to rnt>tr that the iitstt-anx carrizr alters to stale a Maim for insurance bcntfits, Ltndrr
<br />>a awhnrixad to ra`tlkct attd apply the xastrrance praaxis ar Lrndu's option tither to restoration or tepee of thr Pmpem
<br />er m the ~ sectured b}~ lists Mangage.
<br />:3_r~ I.t-<ai>cr ~ Bo;r~wtt ~.a'~c:~:'sr agt~ rn writ;.ag. a:,s' such applicaiiitsr i f ; ts~.,.s to p.rrrx:p-al steal! na[ txtttrd
<br />t>s poapane the r3iit dart ai the inantal} ins[aitmcats refitted as in paragraphs 1 and _' htreaf nr change the amount of
<br />sots rastai~ttitnts. Li uttdrs paragraph t$ acro+a# tfrr P.opzsn rs acqurrtd b} Lender, all right, title anal intertsl of Harrower
<br />in ata3 to sot iaurzanx pnlia:ics and in and tc thz prcx-zeds tbc'rtai re,ulting from damage to the Prap.ny prior to thz sale
<br />~• a shall pass io Lra+dtr is the ezztnz :+f the swrts serutzd b} ihrs ?vfangagt immediately prior to such sale ar
<br />6 P+n~+'afiae aid Attire od I; i.s~oiA~ Cnadoaaiaiums: Placed Uttdt f~rz3op®rais. borrower
<br />shag k~ rht Property is gvxYt repair and shall zax cxuamit uasrt ar ptrmrt impairment or dererioratian of the Prapeny
<br />and shall aampiy vita the pravtuoos of any feast if this 1longage is an a kasehald. li this 1\farigagz is nn a unit in a
<br />t'onittm ar € planned rntit dest3apaaent $arrataer shall perform all of Borrower's nbligauans under the dtclaratian
<br />tr cavmsats ~'eaugg cx gavtraittg the umdomrnium tar plauocd unit dz\-elapmerzt, the by-lanx and regulations of the
<br />cttadamiaitim or planned rtes akvtlopaatpt, and wrtsiitrxnt dactuaents. li a cnndaminiutn or planned unit detelopmtnt
<br />:#~ a t by Bntritwet arr2l mordesl together wYtir this Marigage, tilt cavrteanis and agrezraents of su;.h rider
<br />ahali he itaras}t~'ated into and s$aB amend and suppkatent clue cv\eaants and sgrttments of this Mortgage as i# the rider
<br />~ a part aCtaa£.
<br />T, Pralactfata d I,eeatia's 5ecas$y. if Sorrawrr fails to perform rho envenanes and agree-ttents contained in this
<br />Mm't#age. ter 'tf arty seller nr prooo ~ clnotnrnctd vehicle- materially al3acts, Lendu's interest is the Prapeny.
<br />btrt sir: m, rmtitteat 3atsaia, in~ivrnc}, -ua~ek etrf-.-arrettieni, or arrangements or practtdings invatving a
<br />bealottpt a+r derxdeat, thx Ltmdu at Letader's option, upon ~coc is Borrower, tray make such appearances, disburse such
<br />tats amI take rttttdi nation ss is rroetssz.;t to protect Lt:atfcia interest, trn.luding, but oat limited to, disbursement of
<br />trawaahk atteasty's fees rtml entry epee the Property to make repairs. If Lender required martgagt insurance as a
<br />ttmditioa of making the Iona soured by this Mortgage, Bvnnvtr sha71 pay the premiums required to maimain such
<br />imxs9mae is cBeet tatv7 such tmmo u rite ttgnurrmeni for such insurance terminates in accordance with Borrower's and
<br />
|