|
Utasaoant Covfx:stsTS. Borrower and Lender covenant and agree as follows: OIJr #t(} "?,~'3~
<br />1. Payment of Printtpal ~ Irtterest. Borrower shall promptly pay when dtie the grincigal of and interest on the
<br />indebtedness evidenced by ttte Note, prepayment and late charges as provided in die No:e, and the principal of and interest
<br />on any Future Advances secured ba this Mortgage.
<br />Z. Funds For Tpxes aaal Fnsoattate. ~ubjeci to applicable taw ar to a written waiver by Lender, Borrower sftall pay
<br />to Lender an the day rnanthly installments of principal and interest are payable under the Note, until the Note is paid in full.
<br />a sum Cnertin "Funds") equal to ooe-twelfth of the yearly texts and assessments which tray attain priority aver this
<br />Mortgage, and gmurd rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium irsiallEnents for mortgage insurance, iF any, all as reasonably estimated initially and from
<br />rime to Sme by Lender on the basis of assessments and bills and rea.onable estimates thereof.
<br />'Ittt Funds shall be held in an institution the deposits or accounts of which are insured or attaranteed by a Federal or
<br />state agency (inchtding Lender if Lender is such an insiimtian). Lender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender map not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying ar:d compiling said assessments and bills, unless Lender pave Borrower interest on the Funds and applicable law
<br />pt:rmits Lendtr to make such a charge. Harrower and Linder may agree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall 6e paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to bt paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to @orrower, wirlwut charge. an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose f¢[ which tack debit to tltt Funds was made. The Funds are pledged as additional security for the sums secured
<br />by this Mortgage.
<br />I£ the amount of the Funds held by ixnder, tngtt,htr with the future monthly installments of Funds payable prior to
<br />the due darts of taxes, assessments, i»surance premiums and ground rents, shall exceed the amount required to pay said [axes,
<br />assrasments, insurance premiums turd ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or crtdiced to Borrower an monthly installments of Funds. if the amount of the Funds
<br />held by Lettder shall net ~ safficutnt rn o_v taze_<, a" _ enter, insurance pr~ti>.!ms and ground r s as they fait d!se.
<br />@ormwtr shall pay to Lendtr any- am¢tmt necessary to make up the deficiency within 30 days from the date notice is malted
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in fait of all sums secured by this Mortgage. 1_cnder shat) gromptly refund to Borrower any Funds
<br />4stld by Lender. It under paragraph I$ hereof the Property :s sold or the Property is otherwise acgwred by Lendtr, Lender
<br />shall apply, na later than immediately prior to the sale of the Prope ny or its aequisitian by Lender, any Funds held by
<br />Lendtr sst the tune of appticauon as a credit against the sums secured by thrs Mortgage.
<br />3. ApPlttatian of Paymetats. Unless applicable law provides otherwise. all payments received t+y Lender under the
<br />Note and paragraphs 1 and 2 hereof shall he applied by E_ender fires in payment o{ amounts payable to Linder by Borrower
<br />amdtr paragraph 2 htrea[. 9aen m interest payable on the tiote. thin to the principal of the Natt, and then to interest and
<br />principal an any Future Ads~ances.
<br />A. Charges; Liens. Borrower r',ha!i pay all rases, assessments and other charges, lines and emposmons attnbutable to
<br />[he Property which may attsir. a pnurity aver this Rtartgage. and leasehold payments or e;aund rents. if any, in the manner
<br />provided under paragraph 2 hereof ar. of no< ~s:d en such manner, by Borrower maArng papenent...hen due, dsrtct!y ro the
<br />payee thereof. Borrower xhall pro~mpdy furnish to Linder all ponces of amounts due under this paragraph. and ie the event
<br />Borrower shall make garment d:rec t!y, Borrower ;hall prcmpsl} turntsh so Leniler rc~e:ciFts evldcncmg such payments.
<br />Borvwtr shall premprly dfsrhargtt anY' iren •a=htch has pnent}~ os er .lies )tortgaec: provided. ;hm Borrower shall not he
<br />required to discharge any such lien so long as Burrower she!! agree m xxnnrg u, :he payment of the ohhgatinn +ccured by
<br />such lien :n a mantrtr atttptabte to Lender, ar shall m good t:u[tt canre,e sus::h irrn hv, or defend entorsmern of vrch lien ut,
<br />Itgal •~rar:~edrn~a w-i:rx:h operate to grtrenr if:c x:ntur cement o, the hen or t::rttu::rc ,:f ;he. Progeny <;. .;nv parr :hereof.
<br />&. 1FSSSrd fusnrautt. ~nrr[twer shall keep the :mprn~eenenn sox ceisteng .,r hetr;tfttr crecced on sh-r Property ensured
<br />a¢axnst doss by fire, hazards included wnhtn the term "_atcnelcJ a~,vet agr soil .u,~h other hazards ae Lender oral teuutrc
<br />and ku siHe. arn~ rs ~ 1 tttt ahu Yk t~rnxi a, f-aadar et.,y rcgnr re. t,n,xsdeJ, ,hat t d regmrU that the arnourt ~t
<br />SU9:tt 4E)k'Yttal€t txUl'td trial $[naiint x?t iOk Cr'i;i_!C r~JUL(td IU p.r4 Ih~ ,l,rn,. ,.r.~,. r..j ha rh~~ .'E'i tr[,*~¢t
<br />ihs a~;;r~•:>; rarf-er , ttdxtltng ;tc 3l=sr...-_ .halt or. ~ ht p s y
<br />,.ea; hs R, ke..x.t. .,h,_4, r t _rt.e.., ,~ro tdtu.
<br />' - .~ 1 ° . ' i be ,. ~., er.~um ~_Fncc nouctc_ -'- '
<br />pr¢utdet! undtrr garagra¢'hf2 htre¢d or, :7 rnat~pard m sk,ch •rnanncr, his !?ot tc aer mak nd pay»eat, :+h¢n~dur. !_restla t., ttic
<br />i~:rsanct caztitr.
<br />All insurance pohctes and renew':ds there,+t shall hx+ rn romt aa=cprrhlc to Lander and shcdi sn<lusie s +tandari nnrrsgage
<br />etauxe tr, favor of and an form ucctptable to Lander. Lzadtr -:hall haze the nght !n hold ehr pohacs .nil tens,. al. therc,d.
<br />stuff Borrower shall ¢romptly furnish to Lender all renewal uouees god all recctpts a[ yard premeunr, In the e,cat of Io±,.
<br />Borrower shall glee prompt »oucc to the rnsuraucx- earner and Lender. Ls:nder ma? make pnuH of loss sl not m de pnunpth
<br />by @orrnwer.
<br />Unless L.ernltr end Barr¢wrr otherwise agree an untmg, uuu[;ua'e pmcceds shall he applied so rc,torauun „r repurr of
<br />flit Property damaged, Frovtiled .inch rtstoranon or tepa:r !. a!nomta,aly ,.able ,uul ehr .rcur:n of tlin Stongage
<br />not ihertby impaired. If suds res torau:on or repair ss axe eaononucall} taasd,le of ss rht +c,ur us of tlu, x~turts.te xs ould
<br />bt rmpautd, tM- m§urancc pirxactd~nds shall be app6eil to the hums sccm~ed h} this Storrgagr. unh rite cstcs, st .un~. pueil
<br />to Borrower if the Pu>perty ss ;:hantlontd by Btrrmwer. av d &xroweF tads so re+p~snd m Leader wsthw 3U dots from the
<br />x~te ttn_ti~,e ! tnalh,.t hr Leodtr to Bx:rrx?wet that l!:e : ....=tse:r ::Ile....., tt!c ........^. ?: :' ... ,......,_: hene!+t+ I ;.....
<br />is authorized to coViect snEl apply this uuurunce pn,cetds•~at•La uudt + opton enlist u> re,t.rtauun s repau of :hc Pm~ny
<br />or to the sums secured by chits Mortgage.
<br />Unka I-.rt.r)er a,•id !la'Jrruwtr ;.tlgtrw t.e agre< ,:t .. sang. sa,s .ugh ,ty FEty, tt.,.- _,t t -_ued• : , t•r,n~~t.ai # _~.1 r._ x_.. •nJ
<br />or ~stpatee the doe date Y>t s.l~ msatt:hl} installments rcttrred ro m parag,aph, I ~ndr~: nercot sir :hence U~, ^nsouut ,a
<br />suZh iaaiaitrrsetita. tf unde€ paragraph ! tl hereof rho 1'ropern a acyuu cd he Lcrder~ a,. t:gfit, a;ile :nxt su terest~~~s !3orr,•++-¢s
<br />in attd I¢ snr insttrarict pa6cies and sit ,nil to tfic- proee'eds thartai reaulung from d-am!rgc to the Prep<n} pros !u thr h;dc
<br />¢r acgwxttion sh81I paw ur La ndcr lu+ the eatcrti •'2 the +uma _tiurest n, flip til,ingagc nnnredmte t} poor :~ .«ch ..,le r.
<br />aequi3itian.
<br />6. Prxs§rf-ailaYt and ~1!r5ateosuu'z of Prutt'triyk Lea.,rilold~ t_otastominiusnx i'iamted trait U§, elutxments. Hen rr>xa s~r
<br />+ 'i:.br:rp tlt;. P"^..t:.,ra m ginA6li reptker .. w'II .. .. ., mil .. 4.... :, j.t,. ,+ m:F. .. ~Pt .. a.. a,•..., , ..rv , .: fz.,.
<br />tuM sEral3 comply witlk~tha pt'a3'~ssie'ran - f astyttass nu t -rtgag. ~s „n m a=cho,d tr t4r 4{- -tga~:r =~u,i -
<br />csutdcurtinrm¢ or pLaiantyi uNUt ilt've!ppntettt, Bnrrc,we-r shalt pe-rtorln -,ll „r~iBnr a,uers ++hhg.,s s.sxr-} stele= !h= 1e.I +; ..s _-_ .
<br />i;~ ~;etnattls cr>38Eing of y)ovtrnFng the G4»d¢niffltktm (,i' pl'dltfiNJ ~ellll de Veti`!7it1e111. fhe 9tIa a, .spat re~tllatil=11> •n ih~
<br />candamintunt or planned unit dtvciopr»rnt, acrd cunstiturnt drnwncnt.. It mndommrum or plxnru•d ~nsn ,i ,;,,pu,cm
<br />reder is executed by &rrrower and res:ordtd togtr!atr se~tth llta+ M1ts+r'~,ag,3, th, toraun.n~ au,t .rgrt',•-ru=,ut, ,~. ~u~!, ~•ti:
<br />§hal91~c s.~r,~s'ate' :at¢ a:.tt el=l: an.;:nd a:ad - - --r....,.t .!... ~, ... „-,.._. ,:..
<br />ware a part herivif.
<br />7. F"rWeEY oP; Loader°>< Jtcutity. tf Borrower hale eo !ierfarm the _ovensns turd :rg.r-tmwai s.=eta;ard ni she,
<br />Mtlrtgaga, or if any actin[[ or prosaeding rs eErormuanetd xvhtch materially .rtfca s Iratler + ~itttYSl in she Propx•r+,
<br />«scktd:nil. buE YK't $imttttt t8, rmrtttt» Hama+n. iniu!vencg. eodt rnferc.ntecer. av srraligement~ r ,c::edrnps +n~nl, :ne r,
<br />l~rkrupt ar d:..GdEr.E. tF,:.tt t.e ~r at l,eriat;rr5 asptea.t, ul•.an sn;tic.e t.: kotrt:wcL mss snat.e >u:h , i:}garances, ~.:s[xsr. =.s~h
<br />a and Eak€ ctxh :lf.~,lctn as is necessary to pratct;t Len<ttt~+ ,tuertat, utefudrng. Out n=.,l turnte:i i,,, J:hburxrnre.;t~ ,,,
<br />raaxonazds artorttCy'r fees atxi tarry upon Litt Prsxptny to mulct eupsus. it i.eodcr :ayuit<ki enoricage utsut..acr. .., i
<br />CaEYlI1tE£h`S R3! marcr>~ iCR irtan '.2C iirSd Cv this. M1iortgng., B¢rrx:a4 eF ST;ati pa} ._,= t~rri`?+6m'-ti !::q;e e. _v z , diet r:;!e, h, x..
<br />=~~,± $¢ .•si~t sxt,_t .ugh t~ a- lie ~.=.±utr~nar_nr t., ~~r n.rs, _ ,,., e ,r : _, _ _ _ f t? ._ ___ .._.
<br />
|