|
1
<br />
<br />t.ftarr c-'esratwrrrrst. ~tr~ at+d l~trdae cavetsnru atad agr« as to:lows:
<br />f. a/ ~ trrtii hietats4 ticrrrfwev shah promptly pay whtn due the principal of and intermt on the
<br />i~ ~ !±g tite'tott. ~t a~ law charges as pravidr~l in the Note, and the principal of and interest
<br />sin airp Pesxiwe A9rteasxa roewwd by tsar Mixtgase_
<br />i Ihttta~s gar Ta®w and E~tattetsee. Subixct to ap>Hicabk law or to a written waiver by Lender, Borrower shalt pay
<br />rn L on tft~a day nxtsnihiy iragadimerstx of piincipa} std interest arc payable wttkv tlx Note, until this Note is paid in fuB,
<br />- >~ ". ~") ~ ~ ts%cl<rh of t~ y~;y i ~ sad ~s~~trtis wh~h miry aA.ain pi°,o~y over the?
<br />, and grwxtd rants tin the Property, if any, piers otmtwelkh of rrariy premium itistalltt7enta for hazard inatiratxe,
<br />phne oea•tw;sffth d yearly premium ittslaliinexrs for mnrtgsge insurance. it anp, aU as reasonably tatitttated initially and from
<br />iitn6 Sts tiASe by Leader trig the ba3m of assmssr€ettts and bills and reasonable estimates thereof. -
<br />°i4te Ft shtet9 be paid in an itistittttion the t#eposits or accounts of which aro ittstued or gaanmo~ by a Ftzteral or
<br />:race ageacy tiacttsding Lender if Lcrder is such an imtitution}. Lender shall apply the Funds to pay said taxes, asaasmems,
<br />inwratatx pret:eitarts and growid tents, Ltrtder may not charge far so holding and applying the Funds, analyzing said account,
<br />sx vfrifying atxi cmrtpiling said sasessrneots and hills, unless Le.~er pays Barrawer intetesf oa the Fttttda and applicable law
<br />prstniet Lender to make such a charge. Borrower atal Lentfer may agree in writing at rite time of execution of thin
<br />Mortgage that interest on the Funds ahali he paid to Borrower, and unless such agreement is made or applicable Saw
<br />t~uirm such interest to be p.Hi, Lenc4er shaft nest be requved to pay Borrower any interest or eatttingaoa the Fttttds. Lender
<br />:hail give to Borrower, without charge, an annual aceaunting of ehe Funds showing credits and debits to the Fut~ aid. the
<br />wtpwe fur which uch debit to the Fumis wax made. The Furtds are plttdged as additional stxuriry for the sutra secured
<br />by this Mortgage.
<br />!t the atnotstee of the Funds held by Lender. tngetiier with the future rnonihty installments of Funds payable prior to
<br />the dax thtes of taxes, aas~smen[s. ittaurance premiums and ground rent, shall exceed the amount required to pey said tatter,
<br />astausmdirs, fmuranct premiums and ground revs as they fall due. stxh excess shat} be, at Borrower's aptiort, either
<br />promptly rtpa~ to Borrower or credited to Borrower on monthly c„ta}}mints of Funds. If the amotmt of the Fttitds
<br />htdeE by Ltmder shall twt be sufficient to pay taxes, asressmenu. tnsuratice premiums and ground rents as they fail dtte,
<br />Borrower ahal! pay to Linder any amount necessan to make up the deficiency within 30 days from the date notice is mailed
<br />by Ltsffikr io Borrower reGtmating pavtnent thereof,
<br />Upor[ paytnrnt to foil of al! sums secured by this .Lfongage. Lender shall promptly refund to Borrower any Futtds
<br />titles by Lender. 1f under paragraph 123 htrtof the Property ~s so}d or the Property is otherwix aa}mred by Lender, Leader
<br />shat! apply, no sestet than irnttttdiatelq prior to the safe of the Propery or its acGuisiu;,n by Lender, aay Fonds held by
<br />Leadsr at iht tftM of application as a credit against the sums secured by thrs Mottg.6~.
<br />t, A/~ifeatlats of Unless app}irsble law provides n[htrwisc. ail payments received by Lender uttdtr the
<br />Vote alai paragraphs i a~ ~ htreof shale be app}red by I_endtr first m payment of araoums payable to Lender by Borrower
<br />tit 'over paragraph ? isereaf, then to taierest payable nn the Nae, then to the priiteipai of the Noce, and ttitn to iniartrt and
<br />pnzmpai on any Future Advances.
<br />8. dam: I~as. Borrower :hail pay ail taxes, assessments and other charges. fitrcs and impositions attributable to
<br />the Property which tray attain a priority cover this Mortgage, and leauhold payments or ground rents, if any, in the ttianrttx
<br />prorid~ ostler paragraph 2 hert:of or, :f not paid en such manner, by Sorrnwar making payment, when drx, directly to the
<br />payee thtteaf. Borrowee shall promptty furnsh to Linder all not[ces of amounts due antler this paragraph, a~ in the event
<br />Borrower shall tnalte payment dir~tly. Barrowtr shall prompt}y furnish to Lender receipts evidereeeng such payttxns.
<br />BotTOwtr shall promptly discharge any lien which ties pnnrtty over this Nurtgage: providtat, that Borrower shall not bt
<br />trgwtzd to discharge any such lien so long as t3arrav;er sha}4 egret m wrrt;ne to tilt payment of the obfigaiion secur~i by
<br />such Bets in a manricr acceptable to Lender. or shah in gocvi faith contest such hen ity, ur defend tninrcemtnt of sash nett in,
<br />legal proceedings which operate to prevent the cntarccmtnt of the 7ten or torfuture of the Property or any part thereof.
<br />S. ilssas'd ltatatra~ee. Borrawe: shall keep the tmprovetnents nciw cetsung o: hertaiter erected on the Property :muted
<br />agattist loss try fire. hazards included within the term 's~xeerntd ~uvt€agt anil such ether hazards ac }_cridtr may require
<br />sad in ai[cii amtwnts and for such pcnads as Lender may rty[+trc: 8rs>4 sded, that Lender hail not reyutre that the amount of
<br />such coverage exceed that amount of uivtrage requutd to pay the +ums +taired 6y this Mortgage.
<br />The tasurtittce carrier providing the [nsuranct shall tv: ;fiosen Ely HO[rnwtr subject to approve! by Lender, provided,
<br />the[ such approrsl shall tilt be unreasonably wethhetd. .411 prtm[ums an insuraix~e pa}tctea shall be paid to the manner
<br />preridtxi u>~r par~gra~'i 2 tsz:s~ oi. ,f nest paid in st>`H rtianner. hq Barrtsw~r making payitxvtt, when due, drmetly to the
<br />ittsuraatt carrier.
<br />Ali irtarramt polies: anti rtMttwala thereof shall be to form acceptable to i..endcr rind sha}} include a s[andaai mortgage
<br />clause m favor c,f and in form acceptable to Ltitskr. Lender shall have [he right to hold the pclicia and renewals thereof,
<br />and liis#rowet shah promptly futauh to Larder ail renews} nauces and alt tempts of paid premiums. (n the tvcnt of loss,
<br />Borrower shall give prompt notice to the insurance tamer and Lender. tender mat make proof of }ors if riot madt promptly
<br />by Sortosver.
<br />Unima Lender aisd 9atrowet ashtrwise agree in writing, insurance prix;txds shall be applied to restoration or rtpair of
<br />iltt Property damaged. ptontled such restoration or rtpair is tconamicaily feasible and the security of this Mottgagt is
<br />not thtxeby itnpaitpt. tf such testorauon or repair is not ecoriomtcal}y ttasib#e cir if the security of this Mortgage would
<br />be its, the itisurancx procnais shall be applied to eht sums[ secured by this lsfongage, with the excess, if any, paid
<br />To Borrower. It the Propertp ra ahandoreai by Borrower, or rf Borrower tail; [o respond to Loafer within 3U days from the
<br />date isot~t is masted ny Lcttder co Borrower the[ [fit insutanet tarsier offers to sett}c a claim for imurance txnefiis, tinder
<br />is liY(heiip~d to called and apply the insurance proceeds at Lender's npuon either to restoration or repair of the Property
<br />or w the attn3a xmctired by thin Mortgage.
<br />Urrleta Leader and Borrower atherwisc agree :n writing, any such applscation of pretceds [a principal shat} not extend
<br />or paHpoae the due date cif the maxeth}y installments rtftrred to iu paragraphs i and Z hereat or change the amount of
<br />stte:h srisWltrxnts. it antler pa[agtaph Ig hereof live Prapem• a actiusred by Letaler, ail right, tint and intertai at 13orrawer
<br />io tad to any itrnwasice pulit:iaa ared in and to the proceeals thercot rtxuiting from damage to the Property prior to the sale
<br />or atayttiunars :hail paw to Lender to the extent (it the rams stcurtxi by [his !vortgage immediate}y prior to Such sale ur
<br />~~
<br />i. [9toixrsal6ai aid Atttiaretaoes ~ Prepexty: LeaaaloltYt t'osdaiaisiatasi Phoned U~ fJertbpmeab. Borrower
<br />s>srd ktaep tree Property fn gtwd repair and shall trot a:LYtirttit waste or permn impairment or detorioration of the property
<br />aa$ sistll comply whit the provistsxw cif any tease if this Mortgage ,s ten a leasehold. If [bts Mottgagc is an a unit in a
<br />or a piannaai anti dcveioprntnt, Borrower ,hail perform ril sit Borrower`s obhgatians tinder the dec}aratien
<br />or ca cttyatisg rii g€nwnmg the camduttienium or planned aria dtveMpmtnt, the by-laws and regulations oC the
<br />~~~ - slr plas~ied utot dereioptaant..trui c<msiuutm :tcxtsrtsents. it a wndaminitem ar planned ante eixvtisipment
<br />rediar ca t2srctrttsA by Bortsxaw and rteurded to~tteer wsth this Msxtgagt. the covenants and agretmentx of such rider
<br />> ba i itno sad sisa9} aatenti ara3 sieppteznem ties: covenants anti agrtemtnts at [his Mortgage as if tht rider
<br />era a ~t ham.
<br />9, ltl~rEAalt d 1.aa•ita'ts NawsiaYl, !f Btxr€rwer saris tsi pe~fcxm tits cavenantx and agretmans contatritd rn this
<br />Mert~agii, or st aey sctsran x+r pta:sedysq is rtxrsmerv~d vs<fiech matenaliy affects }.endtr's inttitbt in the P*uperty.
<br />' but nW ieaMSFI t;s. esstseseset . ne>buivcrw:x• c<xk +.'nieerement..n ar€angemanis ar prix:eedingx nrvo}vmg a
<br />hart ~ ~, rhea t..eridw at C_~Jer"s ~spti4ai, upE~rS tt+stacc t„ Hnrrtnvtr, rites' mako such appsaraia.:ts. drstsurae :itch
<br />:~ m-'? ~a s ~r~ >4 is rse~~aswv rn prat } eerier-s ,nttrtrt, r~ftxttifa. f*ut rnN limned to, :tiviltttstmtiit s:t
<br />ms's t~srart ;rr$ si,+ty Fps titer PRSprrtg tr, rnaie a~rrs it 3 rn€irt rtsiuired mnxtgagt incurarx;t ass a
<br />~=t tna~xl{g tree idYteG rssaroq L.e it'!M# i~rt~~te~f:., ~(MtcYWr.€ shR}: ~ m} iht t-ttnRnrrtHt r-eyUirtd tai tnatntatn aria; it
<br />munsraroa ~ ttgistt ainsai +ash Mane ax sew xeeetttiYi ttix sv~v3i ~mwaixe :eem.ntte', .n sccaesiatect wrth tkx n+wtt'. and
<br />
|