|
<br />~1--' ~c~ 104
<br />Uwt~at Covmta~ }lorrower sad 1 mtkr covenant and agcet as follows:
<br />1. ~ >~ lalara~, Borrower shall promptly pay when due the prigcipa- of attd interest on the
<br />tad evidenced trY the Note, prepaymntt atnd late Charges as provided in the Note, and the principal d and interest
<br />as any FaNUre Advances secured by this Mortgage. ,torntwer shall pay
<br />~ F~esle ~~ area ,; -`„q~*, to s~Jisable Iaw ar to a written waiver by Letter,
<br />~, * €m *~ day tttoathty insta[Gaeats of prinri¢al and tntorest arc payable under the Note, until tin Note is paid in fttl4
<br />s fhorein "Pu>tda*7 squat m ate-twelfth of the yearly texts and attcrts which may attain priority over this
<br />reins on the pt,aperry. if any, Plus Otte-twelfth of yearly prernltrm ittstalltrtents for hazed insutanrx;
<br />Mo• sad Btu tttatttgrtce, if any, alt as reaaoaably estirnated initially and front
<br />Qjus ~,~yf-tit ,af yasdy pramttrat ittstalltn~ts far mortg .
<br />trt t ~, L,s~ader oa the basis of asaessrrtenp aqd (fills and reasonable estimates thrxarf. ranteed by a Federal or
<br />17te Fonds shall he hold in as ittstiiutian the deposits or arcounu of which are insturd or gna said [arras, asstssttteats.
<br />state agency (inctodiag Lender if Leader is such an iratimtioa?- Lender shall apply the Funds to Pay
<br />in9uraO[e ptemtutns and Wound rents. Lender may not charge for sa holding and applying t(te Funds, analyzing satdt~e law
<br />w vtsrifyiag and crnrtpsting said asetasmettes and bills, unless Leader pa}~s Borrower interest on the Funds aad apps
<br />ptamiis fetxkr to mate such a charge. Bottowu amf Lender may agtce in writing atnmt is made or applicable law
<br />Mortgage that interest on the Feints shalt be paid to Borrower, and ua4as such agree
<br />requires sect[ interest to be paid, Lent~r shat{ not he iegwred to pay Hottowtt any interest. or eatgings on the Fttads. I-ender
<br />shall give ta Borrower, without charge, an annual accounting of the Funds show additi ~ security [or he sums secured
<br />purpose for which eseh debit to the Funds was mad[. 'Ile Funds arc ptetiged
<br />by thin Mortgtge. able tier ta
<br />Lf flu atttotmt of the Ftttt~ held by [.ender, together with the future monthly installtrtents of Funds pay sapd lazes
<br />rite due dates of raze, assessments, ftwtrarice premiums and ground rents, shall exc~ the amount required to pay
<br />aueasments, irisutattce Premiums and ground reins as they fail due. such excess shall be, at Hoerower s option, either
<br />promptly repaid to borrower or credited to Borrower on mat hinsurance~nrrut»ums and grround alts art theyhfaA dtte,
<br />hsld by header shall toot be sttfficieat ta pay texts, asaessmeit P
<br />Borrostrer shall pay to Lender any amount necessary to make up the deficiency within 30 days front the date notice is matted
<br />by Linder to Borrower regtaestmg P:Ymutt thereof.
<br />lJpoa payment in full of all sums secured by this Mortgage. i.ender shall premptly refund to Borrower say Funds
<br />timid by L.ettder. tf uttdar paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Leader, Lender
<br />alts.! ~yy, no tatty than immediately prior to the sale of fie Property or its acquisition by Lender, any Funds held by
<br />Lute at the time of aPplaatioq as a credit agatnsi the sums secured by this Mortgage.
<br />S, A~iieaBau ai pay.e~. Ilttiess applicable law provides otherwise, alt payments received by Lender under the
<br />Note aim paraWapits 1 a~ 2 hereof shall be applied by Lender first m paymem of amounts payable to [xnder by borrower
<br />[order parap'apb 2 hereof, theft to interest payable tin the :alter, then to the principal of the Note. and then to interest and
<br />principal wt any Future Advtueees.
<br />q, Cis I3eaa, Borrower shelf pay alt taxes. assessmenu and attest charges. fines and impositions attribu:able to
<br />tlx Property which may attain a priority over this Mnngags, and ltasehold payments or ground rents, if any, in fhe manner
<br />ptavidod trader paraWaph 2 hereof or, rt not paid in such mannsr. by Horrewer mating payment, when doe, ditoctly to the
<br />Payee thereof. Borrower shall promptly furnish to Lender alt no[tces of amounts due undtr this paragraph, sad in tltemeotst
<br />Harrower shat! make Payment directly. Herrowrr zhall promptly fnrntsh to Lender receipts evidencing such pay
<br />Barrows' steal! Pmmp[ty discbara any l~ which has pnonty ovrr Ibis .'+torigage: pmvidtd. that Borrower shall not be
<br />reglttrek'e to d.~b."rs~ a: y °~h fist[ so tong as Borrower shat[ agrce in +srittng to the payment of the obligation secured 6y
<br />such lira in a maaaer aaceptiible to Lender, or shelf in goad Earth central such lien by, err dtftnd enforement of such lien in,
<br />legal proceedings which operate to prevent the enfarcettttttt of the lien or forfm[urr of the Property or any part thereof.
<br />+~. ~utrd lawreaes, Boszrrwer shall keep the +mprovements now txisting or hereafter uected on the Property insured
<br />agaimt lose by fire hasards irsciu>~d wi[htn the term "extended cavtrage", and such other hazard as Lender may require
<br />and m such arrxxrnta and for such periods ax i.ertdee may reyu[re: provided. that Lender shall not reyuire that the amount of
<br />such coverage exettd the; amount at covrragt required to pay the sums secured bF thrs Mortgage.
<br />7'he itsaaranee tttrntr providing tttc insurance shall be chosen by &xruwer subject to approval by Lender: provided,
<br />that t approval shalt not be unreasonably w~hhrld hamanrtctrnrity Horrawerrmakmg payttxttt~. when due,tdr trectiy to the
<br />prm,ided under pasaWsph 2 hereof at. of tux pa
<br />instuaaee carsk+.
<br />All ittsurattct pohstta attd rsvnewaJs threat shalt tr in form acctptablr to I-cndrr and shat} include a stands mortgage
<br />claws in favor of and in foam acceptable ro L.cnder. t.rnder shat] tears tite right to hold the galk:i~ and renewals therrot,
<br />atxl Borrower shalt prtttaptty ftmsish to Leader all renewal tta[ices amt all receipts of paid premiums. In the event of loss.
<br />Be+rcower siuii girt prarrW ;tot.. ~ to tw ituuraucs carrree and Linder. Leredtr may make prtxrf of loss tf not made promptly
<br />by Bttrruv+tr. rocreds shat! be appiled to restoration or repair of
<br />Uata~ Leeeder attd Borrtrtvtr Mhetwtse egret in wrtung. insurance p
<br />Ibe prttparty danta/ed. ptavtdai such reuoraium w repair is rcansamica{ly feasible sari the security of this Mortgage +s
<br />rwt tittreby itapatred. II such restorwan or repeat is rent rconrxnicatly [casible or tf the stcuriiy of this Mortgage wautd
<br />ba impa»'etl. ttte iitsurarttx prsxxetfs shalt be applied to the sums secured by this Mangage. with the czcess, if any, paid
<br />to Burrower. If t~ Property d aband=iaedt by Barrtrwer, car ~t Borrower farts to respond [o Leader wtthm 30 days irL~ndeer
<br />date Clouse is matted by Linder to Borrowez that the rrtsttranct carrier alleys to settle a claim far tmuraitce bencftu,
<br />is attdhotirad to colket and apply ~ insurance prirceeds at Larder's avian tither to reuoration or repair of the Property
<br />at ta the awes Muted by thin Mtxtgage. nation of sctctxds to principal shall not extend
<br />Uq{~ L.rttder attd 8arrovver athtrwrsc agrce an wr+ting, any si~f+ aPPI - p the amount of
<br />air poatpwse the due date ttf the mtxtehty iaaralltne--^.ts rrferrtxl to in paragraphs t and 2 hereof} oa~~ ~t~est of Borrower
<br />surd! inxtatlatents- If under paragraph 18 tterart [hr €~ruperty is acyuued b} I.etttkr, ate tight. for W the sale
<br />is and to any ittsuratux pdicies and in attd to fix pro::~°ab+ tteeseaE resetting from damage to the Property pr
<br />err won sltsil pttw to lxu~c to the ext=ol of the sums securr+i tss then Mortgage tmtttedia[eiy prior to such sett or
<br />• t'wii Pleased Utit DevtttlopaewY. Hottawer
<br />& t!sawsvMiw art °f Pt°~y' f•eaoeiral~
<br />shall ~ the g m goad repair and shall itru commit waste or permit impairment or detet'iarauoa of the Pt'openy
<br />aaa strati Y ,Allis tl;t prs:vis~tts of any lease tt th[s Mortgage as on a leasehold. If this Mortgage is nn a unit to a
<br />s-opdosuiattrm or a planrttd emit devslapttteni. Borrower shall pertarm all a[ Harrowers obligations under the declaration
<br />ar cuvtenaala >:reatttiQ err gt>YSraing tl~ candartttnsttm err piantstxt unit dev~*pment, the by-laws and regulatirxts of the
<br />4.pdoraiaiwu as piantsod unh development, astd constituent da:utttrnts. tf a condominium err planttai ntsttotksuch rides
<br />ztdar is tad by Bartosves slut resettled together wuh this Mortgage, the covenants attd agtcem
<br />~,5- t ~ i~ti iota and shall atttend artd suppkrttent the covenants and agrcertteota of this Mortgage as tf she rider
<br />vaot+a a ~ ~ rats cantaint:d in this
<br />? leo~aitlflre ~ I.e+sAK`a ~. if Hortower faux to perfazm thr covenant[ sort agreeate
<br />t oo if any attUan or luaccraiia8 is cotnmertceaf which marerialty aHatt Leader's interest in the Property.
<br />~, h;~i oat iiati4od to, rositttnt dtttaain. iiwalveru:y, code rn[arcernent, or arrangcmtnts err procetstings involving a
<br />>a w dtt, that L.t3tdiK a[ L,etYler's nfnia4z, upatt natter to Borroter, Cosy make sttt:h a;spearantxs, disburse such
<br />asa4 late sib acyi'*ta as is neteasat}` to prrNert Lt:rukr's interest. +ttctudittg, bus not ?imittd so, dtsbttesement of
<br />twappa~a atsaraitY'a fs!es sad entry upon the PrctPesty to make rtPairs_ If Isatder' reyuirtxi mortgage insuraeicr as a
<br />,~ ~ leas earyrad by this Mtxtgage, Hotrower shaft paY the premittgts requrrtsd to mainta[n such
<br />ieatataac~a ~ ~sct rntilg stash time as itte reytsiremont for xttch trtsuranct germinates to aa-corda[u'~e with Borarwers and
<br />
|