|
<br />UN[FORh1 CovrNnxrs. Borrower and Linder covenant and agree as follows:
<br />2. Payment of Principal and interest. Burrower shall prompts}' pay when due the principal of and interest an the
<br />indebtedness evidenced by the Netz, prepaymznt and late charges as provided in the Note, and the principal of and interest
<br />on any Fu[ure Advances secured by this biortgagz.
<br />2. Funds for Tszes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pav
<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-twelfth of [h2 veart} razes and assessments which may attain priority over this
<br />Rfortgsge, and ground rents on the Property, if am', plus ear-twelfth of year]}' premium installments for hazard insurance,
<br />plus one-twelfth of yearh• premium installments for mongagr insurance. if any. all as reasonably es[inwted initially and from
<br />time to time by Leader an the basis of assessments and bills and reasonable estimates thereof.
<br />The'`'uads shalt be held in as institution the de~.its or a.runts of which are insured or guarantrzd `n}' a Fzdzral ur
<br />state agency f including Lender if Lender is such an ins!itutionl. Lender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not char:;z for s+, holding and applying the Funds, analyzing said account,
<br />or verif}'ang aad compiling said asses-smears and hills, unless Lender pays Borrox'er irnerrst on the Funds and applicable law
<br />permits Lender Ya make such a charge. & rrowri and Lender may agree m wrinrg at thz time of exes:ution of this
<br />Marteagr :hat interest en the Funds shall t*e paid to Borroutr, and unless Sufi agreement is made or applicable law
<br />re ~ttirac such interest in ]x paid, Lender shall not br required to pa}' B:~: rawer an~~ interest or earnings on the Funds. tender
<br />shalt give Io Burmwer, without charge, an annual sccournng .,' the Fords showing credits and dehits to the Funds and the
<br />purp.',st for which each debt[ to the Funds u~as made. The Fund. are pledged as additional securaey for the sums secured
<br />by this Mortgagz-
<br />If the amount of the Funds held b}~ Lender, together with the future month!}' installments of Fands payable prior to
<br />the due dates of to-xes, .ssessmtnts, insurance premiums and crnund class, shall rx:eed thz amount requirzd io pay said raters,
<br />assessments- arsu;ance premiums and gnund repo as the! fall dtx. Sufi zxcev shat! be, at Born,w2~s option. either
<br />ptvmFil}' repaid to Sormw.r or credited to Borrower on monthly installments of Fund-,. If the amount of the Fonds
<br />held br Leader shat' not be su~cieat to pay taxes, zssessments, insurance premiums and gmund rents as they fall due,
<br />BorrJ~-er shall pay to Lctidor any amount nz<essan to make up thz defiaena- within ±0 dav> from the date nonce is mailed
<br />by I,etider to Borrower mqutstine payment thereof.
<br />L`pun payment in full of alt stuns secured b}' the 'siongagc, Lender shall promp[ly tehmd to Borm,rer reap Funds
<br />held by Ltadu. If under paragraph lg hzr2oi the Propznv +: sold or [hz Pmp zap ~s o[hrn.',:r a:yiured b}~ Lender, lender
<br />shall apply, no ]a[tr than immediate]} prior to the >alt of the Propert} er its acgmsitton ~. .-~_~~~^. . ~.~---~ ~~_-_ _-
<br />Lcnder st the titan of apph.-ataon as a seeds! against the sum. secured by th:s 4longagt
<br />3, Appl/eaatioa of Ptlvmeats. L'nlzss appficahk lax protadrs otherui>:, :tit payments rtcrivzd bt' 1-ender under the
<br />!+eote and Paragraphs 1 and ~ hereof shall be. aprlled by i-znder fin, in paymzn[ of amounts payabi~ to Lender by Bxrawer
<br />tender FaragraFh ' hrreaf, then to iatzrest payahlt nn the N•.,tt. [hen to the principal of the Nate, and then to antrrest and
<br />principal an an}' Futttrt Adt-anxs.
<br />i. Charges; Iierts. ~ rrax'tr Shall pa} alt taxes assessments and other charges, fines sad impositions attrtbutable to
<br />i~ Pr=_pem• which tray a:.ain a pric~it- over this 91a='egage. and leaszllold Payments or gmund rents, if an}', in the manner
<br />ptvvided under paragraph 2 hereof or, if no[ p:ud !n such manner. !"^; Bcrrowrr making psymrnt, when due. ditYCtly to the
<br />payC litrroot. Borrower shall prnatptty furnish to Lender al. anuses of amounts dui under this paragraph, and in the event
<br />Bo-owrr shall make payment direct]}, 1?+~rT.'•x-°r shall prompts} furnish to Lender receip[s rsidtnetng such payments.
<br />Borrower s_httil FrxamFtly discharge an} store uhi:h has prone' a.2r this ~iengagz; provtdzd. that Borrower shall not be
<br />rtquutd to dlsrharge any such tarn s., Ions s Borroutr shall agrez in x;n:ng to the paynt2nt of [ht obligation secumd by'
<br />sta:.h lien in s manner a.~2ptable [o Lender. , r shat? in good faits rnntest rich iirn b}, or defend eaforemert o2 such litre it
<br />k,~al ptireedittgs which oFer -2e to prevent the enforcemem of the hen ar iartriturr of the FroFern or am part rhereof.
<br />5. 13anrd ItsACraace. B.prroxrr mail keep the tmprotrmenu pox exisnng :v hereafter tntcted on the Froprm' Insured
<br />against I-,ss hv' firs, hazards included u itlttn the tzt-t "extended covrrage'~, and such other hazards ss 1 ender may reyulre
<br />and in such amounts and for rush prr..ais as Lender play tryuirr. p-ro+idrd, that Lzrdrr .ha!a oat nyulrt that the amount of
<br />sw.I; c.',vtragt tsctt+I that amount of ;o, rrr;;z reyuir2d to jai the sums s2, fired t+y this '.lortgagr.
<br />Tae last:-*anee:arrirr p.n'iding the insurance shat! t+e chosen by Borroutr subject !., approti v}' L.endrr; pmtided.
<br />that such app=-oval shai3 ao[ ~ s'arras<,n-hl} xizhheld. All przmi,uns on insararri.z palicirs shall n paE~ -n the manner
<br />prns~sdrd under Paragraph ? ?ttrr+af or..i rent paed in such manner, b} Borroutr making paymene, when dui, dlr2cth' [o fhr
<br />iastrraw~r ~t'rier.
<br />,411 insutan:~ pnitcits and reatwa3s thueuf mail bt in iotm a::eptabte to LrnBeT and shall :a~lude a standard mongage
<br />clntut Ia fare-a nt and in form ~xptahlt to Ltadrr. Ltoder .hill) have t11r ngitt i+, hold the pohci2s sad rtnrwalc thereof.
<br />Borrower sha31 nom ti}~ furntsit m stance - rt =2 : an- =11 ___'-^ _ of paid pr2mi m. in thz ettnt of lass
<br />atad P P ail -- wal 2t:ce: .. tom- -!< -
<br />BorroXes sltail rta~t prampt notice to the artsuranct rarritr and Lendzr.~Lend2ren,a} +-:._ pT+a=::'; k'ss of rut ntadr prontptp
<br />by Betrtiser. -
<br />Unte~ Leader attd Botrewer oth2ruisr agrce m writing. ins.uraace proceed, a):ali hr -applied to rcsturation ar repair of
<br />the Prt?pert) .i•+-m~.ed, prosttitd such trstora,on os rzpau +s t. on. ml.ali~ iras+h{r and [hr .r.ur+t} of th:s ?ti.,r[gagt :t
<br />not thtrt:,y impatrrd. li s,sch rt+toraaon or tkpa+r is not t. onomreaily tease^lr or +t thz >2. tint} of th;s \iortgage would
<br />be [mpatstd: the msuttsnx pra°ttds shall be appl+rd to thz sums secured ht lh:s '.f.^ngagr, x+th the ruev., if ant', paid
<br />ft, BA'-7'i'rwt7 li t~C PigpCltl _.. A!,3ndi,ar~ hl B,,Ti:=x 2I, ~ i =t I3+,77=,x r7 t3i1~ :,, (r, th n~W tip 1_Cn~ri x1llt,n ill dais 271n1 1112
<br />daft n~lrl.^r SS m8s}2d by L[adiS to B(1r]'i`M27 itldi I]]t iaSU7an:r :airlr7 otter. l." ~Citi2 ;i :!aim foe ~n>uraa:2 htnenL>- Lend2T
<br />is atn3x^.zc:: io cixllert and a-Tplt the !......rarn'r proceeds at LtnJer's option either to trstaratwn o, repau of the Psopem
<br />ur to the sums srwured by ittts Morigage~.
<br />L:~nirsa Lrndrr and B.+rrowrr utih2rxis2 agree sn urtung. anv s.rh api~llara., .,f pr<'; `*eis !. pr<n-:pal ~.hatl not extend
<br />cu pustFittte tht due date of tt>r mc,.~tthty installm::nu referred [+, i.; paragraphs and ?hers.=i or :isarig2 the amour[ of
<br />sv~ utstal3menu. ii under paragraph 1& herxxzY se P:opem :, acywreS et Lendr=. oil right tote and :rtzr~~t o! Harr.,urr
<br />in and t, an} :nsttranct pohats artd m sad to tat: pro:: ed. thertot result,ng rn,m 3amage !o t?t2 Prup2rtt piior to the sale
<br />x ncgtustnon sftaL' pus to 3..eader to the extent of the sums sttiurr' hi tilts Ri,.ng"age :m!ntdiateiy print wch sa!z or
<br />acmutsirarm-
<br />6. hn~'t'inua~a and '.4iamtenaecx of Property-: I.r9srhetids: Cortdominiums: Pianaed Unit pe.r.•Fupments. Borruwet
<br />rS[ali trop the Pruptrty m grA~d rrpT+ir atsd rhaL' not ,:ommit waste or permn Impairtnzn[ or deterioration of the Propeny
<br />.za -''_`+ comp:} aim ~. ~evis~ oI nn} lease a t63s !,1.,rtgage is oo a le:ysrhold if this >iortgagr [s on a unit in a
<br />tand.'!attin[um or a planned unit titvelopmtrt. B.i,rrux-rr Khali prn+:rm all n! Bnrr.~wer's nbligahons under the drelarat:can
<br />- -s~°is ~tiab ~ so"'PT,,,~a the a~nd,,z-n:nittm .v pianntn umt drv2loFment- the by-law; and rtg+dauons of rh2
<br />ctmdottsitut~ a plasnad unit dtt°tiapmtnt. -and ez,nsutucnt dttcun,rr;u. Ii .ondominaum or planned unit .12.ri.,pmrut
<br />rider is rtcxutcai b} Bcurowei artd re-urded t>+grther uuh thss M„rtgage, 1x :av2n:ants and agreement> ~+t ,uch nits
<br />shall he in+'ntpot'ated into sad shat} amend and suppkm2nt the cn.enants vnd agreements of th+s Mongagz as .r !hr rider
<br />xvcte a part heratf_
<br />~, PrdetBaa # Leaders[ 5lermg3`. If Burrox~r fails to perform the wvenants and agreements contai^ed in this
<br />Morfgttgt, ar if any action or procttdittg is ccunmr!:,:ed uhtch mat2riallt affects I.rnd2r's !nitres[ in the F=openy.
<br />iBCltxiing, but trot limited ta, etataent domain, ansr+ittnc}'. ~'tde rnfc.rce-merr, tsr srrangements or protr2dir:gs ,nvol+~ing a
<br />bantru}x or dacrdeatt, thin Leader at Lmdei s ottion.. upon nuti:,r to Bannwer. may make such appearances, dist+urst such
<br />sums and take eneh acaion as is rtertssr~y to Frottct Londe: s ,nterzst- :n:ludang. but not limited to, disbursement of
<br />ttanooable nitomey's fees read entry upon the Prupetty m make r2pai rn 1; Lender reyuired mongagt msu7ance as a
<br />xaditioa of making the loan settsre^_ by this Mungage, B~~rroxer mall pay the premiums reyu+rzd to maintain such
<br />insurerr,x in effect until such ti3ne as the requirerrttnt for such insurance terminates in accordance with Surrs,w2i s and
<br />
|