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80- ~~~y
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<br />t: al€pttM C SiVEN itiT%. tlarrawer and (.ender .rovtndnl silt} agree as follows'
<br />I, hymem of Ptt(seeiN ad Ittlesep. l3orrnwer shall promptly pay when title the prirtcipaf of and inttrest on the
<br />+ndebtedmss ev,dencttl by the Note. prepayment and late charge as provided ;n the Nae, and the principal of and interest
<br />on arty Future Advances secured by this lfottgage-
<br />2. 1Pis~ds for Ttr=aa aed lasaa~ee. Subject to apptrcatrk taw or to a written waiver by fender. Borrower shag pay
<br />so Lender nn the day month{y iristaAments of principal and rmerest are payabk under tftc Note. omit the Nutt is paid in full,
<br />a sum thereto "Fatfda"7 equal to otre-twelfth of the yearly taxes and assessments which }nay attain priority over fiis
<br />Mongagc, and ground rents ao the Property, if any, plus one-tesdith of yearly premium irrstallaienta for hazard insurance,
<br />pbas one-twelfth of yearly preminrz instalimenu for mortgage ittwnrxe. if any, alt as reasonably estimated initially and from
<br />.•-• ~. by L.ctsder an the basis of assesurtents acrd hilts slid reasonable estimates thereof.
<br />m~ The Funds shall fie held ir, an institMien the deposits or accounts of which arc itssured or gtaraateed by a Federal or
<br />•,rare agency t including Lender if frndtr is such an i[tstitu[ion ). 1_ender shaft apply the Funds to pay said taxes, asttessmearts,
<br />insurance premrorns and ground rrnts Lender may not charge for so holding acrd applying the Funds, analyzing said account,
<br />nr verifying and compiling said ass~.stttents and hilts, unless Leader pays &xrowtr interest on the Funds and applicable Iaw
<br />permits Lender to make such a eftatge. Borrower and La:ttdtr may agree in writing ai the time of execution of this
<br />Morgage that interest on the Frmds slap be paid to Borrower, and unless such agreetrrem is made or applicable law
<br />rtquires such mitres[ to tx paid, Linder shaft not be requirai to pay Borrower any interest or earnings on tlx Funds. Lender
<br />shall give to Bonower, wkhaut charge. an annual accounting of the Furrds showing credits acrd tkbits to the Funds acrd the
<br />purpose ter whteft each debit to the Funds was made. The Funds arc pfedgat as additional security for the sums severed
<br />by this Mortgage.
<br />If the amount of [hc Funds held by Lender, together with [rte future montfiiy irtstallments of Funr#s payable prior to
<br />}fie due dates of taxes, assesarrrenw, irsurance prerruums acrd ground rents, shalt exceed the amount requitrd to pay said taxes,
<br />assessments. insuranoL premiums and ground rents as they fall due, such excess shall lx, at t3orrower's option, either
<br />prrnnptSy repaid to Horrower or credited m Borrower on monthh insraittnents of Funds. If the atttount of ttte Ftmds
<br />held by Leader shall not be suf?f~im; to pay rues, assessments, irtsurarice praniums and ground rents as they felt due.
<br />Harrower shall pay to Linder any arrrrnrnt tret:essarv to make up the deficiency within 30 days from the date notice is mailed
<br />by Lxtrder to $orrower regriesung payment thereof
<br />Uptxt payment m full of alI suing ucuted 6y this Mortgage. }.ender shall promptly refund to Borrower any Funds
<br />heW ly Lzndcr, if under paragraph i8 hercaf }fie Propcny is setd nr the Propcny is otherwise acquired by Letukr, Lender
<br />shalt apply. no later than tmmediattly prior to }lee Sale of the Property nr irs acgwsinon 6y Lender, aa}' Funds held by
<br />Leader at ttr_ t;rne ~.f application as a credit against ttx sums ser:ured by this Mortgage.
<br />3. AppUieatioe of PaymorYC. L+'otess appttcable taw provides otherwise. all payments received by Lender under the
<br />tiote and paragraphs t and ~ hert:ot shaft be apptictt by fender first rn payment of araotrnts payable to Lender by Borrower
<br />nrrder paragraph Z hereof, then to interest payable nn the Note, rhea ez. the pnrtcipal of the Nate, and then [o intemt and
<br />pnncipal en an}• Future Advances.
<br />~• ('belies} IJeos. Borrower shall pay aN texas. assessments slat :tther charges, tines and impositions attributable to
<br />ttte Property which may attain a priartty aver this Mortgage, and Ieasehnlrf payments or ground rants, if any. in the trtanttcr
<br />provided under paragraph 2 hereof or, tf not paid +n such manner. by Borrower making paro'ment, when due, directly to the
<br />pays thrrrnf. Borrower shad promptly furnish to Lender alt nouces of amounts titre under this paragraph, and in the event
<br />Borrower chaff make payment directly. Burmwrr ,fiat! , romprly ?urnuh to f.enekr receipts evidetx'mg sucfi payments.
<br />tlonowe- ,haft promptly discharge any hen vehicle has prority over this Mungage; prnvtdtd. that Borrower shaft not bt
<br />requrrrd t:? discharge '~ such ir, , ,,; Song a; Borrower shall agree in »ntu=g to the payment of the nbiigauon secured by
<br />such hen to a manner acsxptat>!e to Lender, or ,hall m gotxl fauh tontrst such Sien by. er defend enforcement of such lien in,
<br />legal prececdtngs which apcrate to prevent the eniarcement of the ben ;>r fotfenure of the Proprny or any part thereof.
<br />5. !!anvil lewrance. Honowcz shall keep the unptovtments now txistmg or hereafter erected eft the Property insured
<br />against toss by fire, fiaxrrds included within the term °'extended coverage'. and xucfi other hazards as Lender may require
<br />sad tr. such amounts and for sus:h prrrods as Lender may require; provrdeJ. that Lender ,hall not reyriue that the arnoun: ••f
<br />such .overage rxceed [hat amount ,if coverage required to pay etst ,ums scs:ureJ hq this Mottgagc-
<br />The truurarrs:e vainer providing the instuam:t shelf he Ehc*~n by B.irtt?wtr s!;bj~t tv approve! by Ltnder, prmtded,
<br />that such approval Zttatl sot be uorcassmabty withhold. Att premiums nn insurance policies shat) he paid tr: [tit mantle}
<br />provided urtrttr paragraph '_ hereof ~:r.:f Fot past iii srx;h triaritxr, bs Bc:ttowtt making paymttu, when due, slrrectty to the
<br />msuratue canter. -
<br />Aii insurance ~rits.'trs anti tcrxwals thcreoi shall tie to corm aceptahie to t_emier and shad rndude a ,tandard mortgage
<br />clause ,n taor s,t -a.~J .n `orm acceprabie to i_endzr. (.ender ,hart ha=~c rho right n+ hold tSe p„iicies and renewals thereof.
<br />and 13orruwer shall promptly turorsh to lender al.i rentuai notices soil ail rectrpts rf-prod prcntium+. In the eYeni of loss,
<br />Borrower shalt etve prompt notice to the msurunci earner mid Lender Lender' may make pru,zt vt lrns tt ni+t made promptly
<br />tzy Linrrower.
<br />tlniess fender :rod Bon'ower o[tsrrwist ague ir. wnung, mcuranct prcx;ecd, shall be applied ro restotutiun nr repair of
<br />the Property damaged, prnrerleJ such tcstoraUOn or repair .i ecuoomrcatty feasiblt and the ,ecutny of this Mortgage t,
<br />ant thereby ittrpaired, t€ sorb rtswrausxt ur rep•rrr a nut rvonumttatly teasrble er ;t the .ecwrtc ul ibis Mortgage u~~uld
<br />be impairecL the ,nyurarne p«xeeJs shall be applrrd to the sums sccused by !hn ~fongagr, will} the esscss, if any, paid
<br />to 8turowtt Ile the Preptrty :s abaltJantsf by Bcinower, ;+, +I Borrower sails to respond to Lender wither 3i) days t«,m ttm
<br />date nonce is made) by Leudez to Borrower that the insurancr arner ,+tfers to sertle a ~!a,m for ~nzuranze benefits, Fender
<br />is aut#tonzcJ to .:aifes:t and apps} the trtsuran x prcr:teds at t.cnder's npuon other to restoraucrt or repair of the Prnpert}
<br />ar to tip soars secured M- ehro Mortgage.
<br />E.'nlcrv t_endcr and Borrower nthrrwisr ague ut wruurg, any sus:h applicat;on ,~t pr„cecds to S?rincipal ,hall nit curtail
<br />ur pusipsrnt ;hr dui date of the monthly' ms[allments retie rcJ tv us paragraph, anJ ~ hrrcof ur .hangc thr amount of
<br />stx6 costa#Intenu. It under paragraph iR hercctf the Pnptny ;, acyurred by Lender- ail nghi, tilts: and ~r,etztst t+t Horruwer
<br />in sail to ens ::uurarr:c policies seal in attJ to the prvx;ceds thtrcvt resulting teem .lamegt to the Property poor io the sate
<br />ar acywsman shall paw to Letuler ra the extra} ..+€ the gums sr:cured by this Rortgage :ntmedtateiy poor r,• such sale or
<br />acyuisitian_
<br />6. tstleiertatlee rind Mrsisteaoece of Propene; I-erselsafd~: ('oedoestaiomri; Planned lltrit I)evelupmeets. Hormwcr
<br />shall kelp the Properly in gxx1 repair attd shed ttoi ccmrmit waste or permit rmpaarment or Jettrinratran of the Prepeny
<br />and slrai; comply with t#re piovtstun& of any' tease .€ thss ~iwi}tagt ,. ~+n a ieasrhoid. !f this A•fortgage ix „n :. loot in a
<br />e.rndom+numr or s ptanrrcd unit ~{evcii:penent. Burrow'ex shelf porfotm alt tit Horrower z ubhgations umkr the Jeclaratic,n
<br />or ca'rroants ::reaurr3 .,r goveinretg the ,:smile mintum ezr prat nod ,loll development, the Fiv. }eves and regutauor.+ ,~t the
<br />vzuidomimdm nr ptantted unit devefopmeat, and constituent dxumrnt, tf a crnsluntinium or punned ,roll Jeseiopntcnt
<br />zidst ;s exztutoil by Hcstrower and re,:ordtd u>gether with this Mongagc, the covcrrants and agreements r,t such nskr
<br />r,laB he tnci,+rparafxrl into and shat! ametrit and suppiemarrt the cu>aa+nts tool agrv<ritants of tins 4fnrtgag+: as ,t thr: «Jer
<br />ware s psrt hes~.L.
<br />?. Pswoetlass of L.:arsier'a BOCOSi6y, it Bariitwer :aril to perform the covenants anJ agretments irmtained m thrz
<br />AlarEgagz, tit if an}' seise! or pt'neredtnq es csranrmrrccJ whrcti niatt[iaL#y efts} tenders tnteresr in zhr Prepens,
<br />rrls#rsdeng. but n• i lsttuted tv: emmttrt domain: rnsotvertcp_ Ludt enforcement, or artar;gtrtttnu x,r p«v~eeduigs +nvoiv,rrg a
<br />trirxkrypt of J.ex=vdcnt, }lieu Lcrn3tr at LtwJoi s upt~~,tt, aipon rxtrce t;* Ht+rrr-veer.:na y make such appcarancts. Jmhurse cua-h
<br />suns srpi tr~a such ntex'rrrrs a rretoraa.-y to protec:f L.ertdar's enrcrest, =reciuding, bu; tkx iimucJ t.,. JEStrursenrrnt ,•?
<br />reas:~aLits: atiarcag's frzts acrd catty apr~a eLte Propcrq' to male rcpauz. tt Leader rtyture+l mortgage itrsucatct «r, ,
<br />a,€.ittr<.n ci maitrtg z[re loan sex:urraf icy ;his htc~ttgage_ Banowtt strati pa} tttr prenuunx, rextuuai to tnaratatn such
<br />az~ se -^_+r~c taa;,t ut:h '.tee as Litt requiretnaa€ fa :wit ,ns.d r ~ :=,rss ,ta#~ ~~iE,cs:ar~c a::h f~iersiacr'. at~.i
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