|
$V... ~~J~1(ji~
<br />U'stPOett Covsrtertrs. Borrower and Lender mvenam and agree as follows:
<br />1. Payment of Prtnclppl and Interest. Borrower shall promptly pay when duc the principal of and interest nn [he
<br />indebtedness evidenced by the Note, prepayment and lute charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Ntortgage.
<br />2. Feeds for Tales and Ireatrance. Subject to applicable law or to a written waiver 6y Lender. Borrawar shalt pay
<br />to Lender on the day monthly installments of principal and interest arc payable tinder the Note, until the Note is paid in fulh
<br />a stem (herein "Funds") equaE ro one-hve#fth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground rents on the Propeny, d any. talus one-twelfth of yearly premium installments for hazard insurance,
<br />plus ono-twelfth of yearly premium installments for mortgage insurance. if any, all as reasonably estimated initially and from
<br />dine to time by Lender on the basis of assessments and hilts .rod reasonable estimates thereof.
<br />Tht Funds shall be held in an instimdon the deposrts nr accaonts of which arc insured or guaranteed by a Federal ar
<br />state agency (including Lender if Lcnder is such an institution t. Lender shall apply the Funds to pay said taxes, assessments,
<br />ittsuraace premiums and ground rents. tender may not charge for sn hoidino and applying the Funds, and#yzing said account.
<br />or verifying and compiling said assessntenis and bills, unless Lender pays Borrower interest un the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lcnder may agree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall he paid iu Borrower. and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lcnder shat! not he required to pay Borrower ^ny interest or earnings nn the Funds. Lender
<br />shall give to Borrower, withou[ charge, an annual accounting of the Funds ,houone credits and debits «> the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds arc pledged as additional securit}' for the sums secured
<br />by this bfortgag,.
<br />If the amount of the Fonds hC#d by Lcnder. [ogether unh the lutm'e monihtc !nstailments of Funds payable poor to
<br />the due dates of taxes, assessments. insurance premiums and Ground rents, shall rxreed the amount required m pay said taxes.
<br />assessments, insurance premiums and ground rents as they tall due, such cscess shall he. at Borrower's opttan, either
<br />promptly repaid to Borrower or credited to Borrower on monthis ,nsut8munts of Funds I[ the amount of the Funds
<br />hdd by Lender shall not be sufficient to pay taxes. assessments. m.uranir' premiums and ground rents as thcv fall duc,
<br />Borrower shall pay to [xder any amount etecessan to maAe up the dchclcnrt uah!n 30 des, from ttr.: date notice is mailed
<br />by Leader to Borrower reyuestrng payment ;hereof
<br />upon payment m fu^ of alt sums s ~.urcd M rhrs !Hurt s'agc. tender ,hail prompds rotund m Horrou~er any Funds
<br />held by Lender. tf under paragraph ]ti hemat the f'ropeih ;, ,old a! ;hc Yroprrts ::.,!henc,.e aagwrcd hr I-ender, tender
<br />shall apply, no rater than immediately poor t,, the .air nt the Pmpcns ,,r ,ts aagwsmnn to i ender. any funds held by
<br />f.el3der __ rte ttm:• of ~p#i-.anon ys a ~redu against the sum, ,-t:urrd hs th!s yf ortgacr
<br />3. Apiicaiioa of Paytne!atc L'~ntess applicable 'au t•n~t ,des „ihcru tsc. aft pas'mentc rc;en-cd by tender under the
<br />Note and paragraphs ' xmd 2 hereof shall he uppl+ed h, 1 ender ht~t :n pa: meat „f amca!nis payable to 1 ender he Bnrn,wer
<br />uetder paragraph 2 ieereof. then to miere,t payabtc on the At,ic. !hen to rite t,ni:cipal „t the Aote. ,,nd then t,, mteresY and
<br />pnncxpal on any Future Advances..
<br />d. ChsaRl~ Bens. 8orrt>sser <haii pas .r#t :.i ..+„ecvuert- .: rsd ,~r^.er -. hurce,. tints ,:nd :mpt,•.etic,nc .,[irthutahtc to
<br />[he Ysopetty which may anatn a pnonty aver this tint*.~agc. and frasehoid payments .,r Ground rent,, :f aay~. !n the manner
<br />provtded under paragraph' hemot or ;i net pard .n such oleo.^.r: n. Horr,ucr msA!n, pavmrnt..a hen due~..lsrecHv to the
<br />payee thereof. Borrower shall prompt+y- turul,rs r., 1 ender ail noucec of .;moans .7 ur i;n~r the; caragraph. dad to the coca'
<br />$orrower shelf make oa v~nen[ daectls. Borr:,at rr ,bait ('n »=npt;s lame,:, !, 1 caxirr :_ceip4s r. idcncmg ,uch payments
<br />Borrower sfiaii prttmpli}' liischarge ant tarn ~.+hr. is n;e, ^r x,r!t, ,stir th:~ St,*rtgasc .,, „ird. !hat B: rr<,wer ahali n:,t !*e
<br />requtrrd to du.-harge any such #aen ,r, lurai .;s Borrower ,..,,ai .:2rer .n ,a r,u;n !,, the ; asrncnt tit !!tie ,~t+tr>;aut,n ar, urrd hs
<br />such lira to u manner aCxpiabfc m tender. ,~r ,hall ;n g~,v~ taxth wntev. ,aah !'::n Fs ~-s :iefend cr±r~rCrment ,a ..an lien in.
<br />ttga# proceedings which aperate to psrvent tnc eutorcctnrat of ;hc ::rr, or t,xic.t arc :•i the PmpeRV ,._ .ins ra rt thereof.
<br />S. Berard 1^rneee. Bortatver ,hall weep the r.~npr-.,srmrm. naa c,:,t,ng :~• •~ rant c._-..cu on V4e P:,,outs !nsured
<br />aganut loss by hie. hazards iaCtutkd uuh!n the term -t ttendru ..,,,:r.vec sod „=.h ,~thi hazards a, 1 enarr ma•; rcyuu~c
<br />dad in such amanttl5 and for lush prnods a, 1 er:dcr rosy' rcyu!rr t^rt:a i,}r-!. !tr<a t cider ,haii :;nt n~uutre that the amount .,t
<br />surf[ rarerage exceed [hat amooni .,• _.,. Greer teytr:,:d !„ f,s !::e ~~.,+m ,r; +:rrd hs !nn 'tku,gage
<br />T1tt +ttsu rancx csrrter provtdtii;t iiie :near -acv sitaii x :h:>.rn h, 1s„rr,,...;: r .:!h!c.'t !, approval hs 1 ender: provided.
<br />that such approval shalt not be unreax,rabi} u~tthhe6d- y!i {>rciantm, ., .,::.a_.c p.icies .t:ah he , a,d n; the :nannci
<br />provided urxicr paragraph '_ hereof or.:t tx,t paetl in ,uah !naiinri. i•s Htnr:,mac! nnai,:n~ p._tvmrm. uhcn dur..i+recth~ to the
<br />insurance Catrmr.
<br />.~Il 1nSUraaCC pa#tcies zrd :r-ttcuais ritrrer~t , . ti hr m i.,stri a_ .,^taftfc s., [ ~s~ai n:i -sh;sil ,•..r.,ua . ,tn+iil:rrd nsarlKage
<br />Clause to favor of and in Corm x~Ceptnb#a to Lent:ra. .ender ,hat{ ha, t.,; +Setht t, ,e,t{d the p.,u. ars .,ud rencK nh therrt,i
<br />and HUIrVN of s$iul ptt>mpt9y futmsh m LenGCt a!i rc~aa; ,rilucr, .,e,u alt r_ e.pto _, na!d prr!n,uut+ ;n the c. rot rat #,,,,.
<br />Bortti*wer shal# give prompt nntitx w the ~iuw'ar e ~arr;rr ,::.d # rl:de: : r..+ser .•..., ,.~,ai.c {,rt•,at ,,.:fns rt n.., ::rack; pr,.m ptir
<br />by $errower.
<br />litt#css lender anti Hurrowcr cethc€u rx :,a:cx ,;, -aunt:.:,„wane ,t c,tceu, sn:tt! F applied t,, rr,t„3;ruor, .,r iep:ui n,
<br />the Property dama_rccl. ittc,tuueai ,urh :'cal=rat:.,xt ,~. nctrrrr : ~<~. o,tvm,caiip icastUie .,ac: d;c' <ercurns of tM, yTnrtgage ,_
<br />tta3 thttYb}' itttpatred. It suett restoration a,r :rpasr ':, n.,t i;,,n„n n. at!v °. t-s,!hfr ,+r t^r ,.eiurstt ,. +h+, \it*:tgagc u,,,,ic
<br />be rmpa[ted, the msuratre prtxced. •haii ~ ap;>iuu !. ...a ,ums ,a; ure,.t hs .h:, Lf urtg„f;c ..,[h !ir,: t•,.ar,s. !! .,!: •. and
<br />t~ $eJrrcrwex'_ It L17C Pruperit +> at>nnd.=ncd r-, fit ~; r,~urr •~ . ,: #fcr,rrw4! :...,_ .., tie, ln~raf +„ t e,:U,.~i wnhn, i!7 day-> i+,,,t, !hc
<br />date nntiCC l5 111adecl by Lender Fki 84 r. t,K Y't i.'tai lily mStira Skit' ~a[f'-t'I s,ti,; rw :,, ~~'i!:C .:,a,n [„! ,li~l1i illtte benCtfli, i ei3JCr
<br />as attiharzzal Et> culiEa:F anti apply itte unur artec cra+c-+s^ds .:.. olJa s „pirk,n rsthe! a~> :vet itrat+ua or rrp,:n t,t !hr Prr,~:n,-
<br />_r io the sums located b} chi. ++lottgagr
<br />Linless Lender and Barrow ca -~thesw ix ,,fir rc .~ + !nrg_ ar,, ,ir;h eppl„cu;t,r ,,; p!oa<et5s !„ ; naarpa! sna#t ut,t c,tcad
<br />or cx~ipi?ne the due dste K the , ra,n; has ;nstal3 me=;a rrie!reci t. r, paragraph, .,~ _ .. _a. , , ~hm,gr i+u em,wnt :,i
<br />s+a:ii installments- 11 urider paragts;';.:J txreot the i'n,, errs :, ~iyu+rrti i~=s !;:trot: '.t•., ::gh:. ~'i ie ~.,:rd ::;!e: e,t „t Hars.,u c,
<br />in a'to any In>uranc-e t_+CtLeat~s an4 ,n and :,• xj?r r~:.'tivc.l, theroo# !t~,uitrug ;,,,....,. u _ ,., the f'n,tt!, pn.,r t„ the .,~.a
<br />ar acquisixian shat! puss to Lcnuas to t1'te esirt,f r! t•he ,,:irs1 ,atiutru h, !h:, `.Snr Ls. ~aec ,++.,e+h51 c;) S~!+ur ,., ,u,h ,die or
<br />acgtuctiiran.
<br />6. Ps!aerrutiva and yfainteaaoce of Yrrrp,ertw: Lrariicrids; t r,atluu>iniuwe; Ptanord t. [tit 1)esrlttpnirnts. kic,!ro•+.!
<br />si:a#1 kcep 6Nc 'P€'opesty bt gcti~ r~+au and shalt ,t•~t .,,n1am ==astir .• t+rrsnrt :n,par,awm .~r deternsuuirt, ai rhr Pn.loin
<br />acid shall comp#r with dye ptosisicuts c,iar,x ieasc ,, liar. eta:etg.rga ~ ;_!..: ...,....id !' .,• , '.tusi:;avc :, ,+:! .~ , !„i !.
<br />64f1dDfillriitdrn ix a ptanx~cl ;;n§t ie,e#opmcni. Baler r.,urt .haii lx'ri „!sn ., 73 ::sHor su~cr n •bhgai:utm a»det !!,c .,;a iarau„e,
<br />of Crn+ettaats ctcatmg ac gi+vertung the ,+~nd.,u„n ~~r ,..a -,:t,t .~i,~c-+„~ i. .,, hs a ,:,c '.,.;o„ .,.<.
<br />c-fxt~dorniEUUru r>= plaurred unet ucvt'hy>rnrnt..,rrd .~•n,ttt„crri~,,,,.uu:du:, L ., ,.;,.:,,muuatn ,,. [,taaxti.d :.:rt ,.,_ i.,t„tst~:t
<br />rtli:q s5 rteCtitcII by BQJ[Oµ-ct sod rraot..ieJ :ut.iher ... ., 'h„ '+9us ige..~r. .- ,,..mot.,.,,,:. .,,id e:ta. t,,, :'i ,.._,. !:..4•r
<br />shall Fx Iworpcttatr f into artd sitaii a:zititad an.1 ::q,1>~.-^>c„t :r+a• ,t ..,rai:!7 ,.,... U a~ern,•utns,~x !h,s 44 ar igagC .n .1 the :,de,
<br />'+G66C a pats 1tCJLYlL
<br />T. Pw[cetian t)i Lerdrr"s tierurity. li Bt>rr.,ua 'a:f* !., [ta:~v+si the ., ,cnonts .:,rt! ._ cc.iucu;a .•,+itao,cd ui !=t„
<br />MPrtgagc, ar if anti acuxxt a•r prt><:ee.ir[tg ., «cvaer;se;i, r.i +:r!ah n,.,tertalSy .:v.e. is 1cud.t ~. !,tr,. ,! :~ !h+ F'r,.pa!;,.
<br />-aClud.nt$, bLt3 nrsl h'a1i1td tu, nmruczlt dvru,a, ta, +n.ais'ct;..) ., .,,., ,,.a~enein, .., roagz n:.:!,E. , - pn>~~.cu,~, nt„~, u,(i .,
<br />Lwakrupt of r1c€eclent, thca Letuie, at 1 ~er~'eJ :pa s, u[ a at r ~ tsa r ., i ,,.F; ., t,1x.,ra„~., ..,, w,. ..,.
<br />sums and tale such turtion as s nue:,~ia,} t. p,i tsct Le:,d.r. ta,i„ .. i. u,nt. 3 -.:! .n+at,i . - .,,ra, -, n„nt
<br />tcaspnable mttamey'S fcs and ent ry upota z4,c f'rnf+rr;t t.+ :na6c ,rpa,!, I! !;~!:d:r ~. y~,,, c,l ..,,,nr;a);c ,-..,,, ,,,.., ,,. -,
<br />e-artcTittun of ma~ltmg ie~. ioau r•ec.waz# t} t ~t.c A4ortg.a 1f.,n..,:r ,na,, , .,t ii,c t~;.,,,,,..!;:. ~,y:, ,~„ !, :•ra!nt.,,., ..:.."
<br />iaftiranC~ in e'~ec:i tintij k43G11 tune aS 4t>e r:~utrL'tn;,nl tit; .t ,ai,a,rn _ ,,,; rta,t, .3 ,,,, ,vas,..- ,sib Buie,.'..., , -+~,..
<br />
|