|
s1-ac~.~~l~
<br />UarPOaM CuVEtvsiV•r5. Borrower and Lender tx>venant and agree as fatlows
<br />L Pay®eat aN reel latercst. Bormwer shall promptly pay when due [he principal of and interest on the
<br />iedebtednas evide-need by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />tsn any Future Advances secured by this Mortgage.
<br />Z. Fal=ls Pear Tam Ord Insasaaee. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />ro f.earler on the day ttroothly instalttntrsts of principal and interest are payable under the Natt, until the Note is paird in full,
<br />a s rri fi3trcin "a etrid?t"i ~tsai to one-twelft3t of thz yearly tapes and assessments which may attain priorfty over this
<br />fNtxtptge, and ground rants an errs I'roperey. if any, plus one-twelfth of yearly premium installments for htanrd insurance>
<br />plies one-twelfth of yearly premitatt installments far mortgage insurance, if any, all as trawnabty estimated iaitiatly aotl from
<br />time to tires by !.ender on the basis of assessments •and hills and reasonable estimates thereof.
<br />The Ftmda shall be held in an institution the deposits ar accttsmts of which are itrstrred or guaranteed by a Federal or
<br />=east agency fineluding Lender if Lendu is such an institutianl. Lander shall apply the Funds to pay Bald taxes, assesartrortts,
<br />it~trranee premiums a~ ground rents. lxrsdtr may net charge far so holding and applying the Funds, artatyzing said accaurtt,
<br />or verifying and compiling said asttesaments seed bills, unless I.tnder pays Borrower interest on the Funds and applicable taw
<br />permits I.anrkr to make setter a charge. Borrower and Lender may agree in writing at the time of extxtaion of this
<br />Mortgage that interest on the Funds slwll he paid to Banewer. and unless such agreement is m~!e or appticabia law
<br />roqui[as such interest to be paid, /xrtder shall not be required to pay 1lnrower any interest or seining= an the Fonds. Lander
<br />=t=ail give ao Barcawer, withrnrt charge; an anrwal accounting of the Fuads showing credits and debits to the Funds seed the
<br />ptva'•x fat which each debit to khe Funds was made. The Funds are pledged as addiNonat security for the sums secured
<br />6y this Afartgagt.
<br />IQ the tunount of the F,rtsda held by Lender, together with the future monthly installments of Funds payable prior to
<br />ttx due dates of uzas, assessmeats, insurance premiums and ground rents, shah exec<d the amount required to pay said taxes,
<br />atrst~oams, insurancx prcmitrrtts and grauml rents as they fa}3 due. such excess shall be, at Borrower's option, either
<br />prarnptip repaid to !?}ortower ar credited to Borrower on month}y ,nstslimenu ctf Funds. If the amount of the Fnnds
<br />hadd by LtrnLcr shah eat ba va'+~r to paY teats. asaessmersts. insurance premtums and grouted rents u ttxw fall due.
<br />Harrow'et'sdntl pay to I.emder any amount aeccssary to make up the deficsenc} within 3Q days from the date notice is malted
<br />by irndCr to Bartvwer rcq~batl paytrtem +txrcttt.
<br />Elptxa paymea! to full of all sums secured by th,s Mortgage. l.arzder shalt pramptty rotund to Borrower any Fundt
<br />held by [.ctttltr. ff srnaitr paragta{t1t 1 S hector the Propetn :s said or ±hc Properp ,s otherwise acqusred by Leader, L~r~r
<br />shaiI apply, net }atu than imrnediatcby prior to the +ale of the Propert} .,s its acqu+srtron by lsnder, any Funds held by
<br />Lr at tier elects of applttat~ as a cretdit against the sums secLrtd by ttus Mortgage
<br />A A~aeaifaa ~ Fspt Unless appitcaftte Saw pre:vreies trtserwfs€. a¢i pay$s€nts roc-€rc~d by loafer undr, t,`,t:
<br />Niue seed paragraphs I sad 2 Itersrtf sltatt fx appt--.eel by Lendee fist as psvrtsent of am+wau payable to l.trrder by Borrawet
<br />trader pans;rap6 2 ttetcaof. rhea to :merest payable em the .'ovate. ;hen u, rtes pnnetpa{ of the Note, and then to interest and
<br />prrntigal un artY Future Advances.
<br />i. Clre~est I.isas. Batrttwer shall psY alE taz€s.:rss€s*menta .zni ..~ther -,hargcs find and emfxx,¢+esns atVtbutabk [o
<br />the rtY which maY steals s priority ,vet this Mottgagt, and ita;nc~'i,} Sravments :~r :round rears.:: any. ¢n ihx manner
<br />pror+ded tutder paragrpph 2 tstttxTt' eu. if net peed :n sue';: ~tanr€.* '?s &rnracr mole+ne taymenL v.lten dtx. Jttrctly to the
<br />Payee theraaf. Borrower shall pratnpt}y tsrrnsah to i_cnd€r ati nr=tt.:cx .'t ,.mvoms ,rue .:nder tars paragraph. and in the event
<br />13rrravaer shall tnakc pavmtm dua:s;c, tk;rro~cr ..half ;*rs=mpt". tG.rt+,zh „ fsrtier tr.etpts xssdcitcmg ssxh payments.
<br />Bartrwer shalt promptly drschargr env :,eft »t•,~ t+ *:ss ; r.+,ra, .„e. t•ess 4te?rtgage. pro>F•ed€d. that Borrower shalt net be
<br />tCqufrtd is dt~harge an}' sueh is€n x }ang .es its=. rawer vha33 ,arse =n .+rrtsng tc :n€ palm€nt e,t the obhgauan s€cuted by
<br />stash ties .n a msrrrset sceeptahtc to Leredsr. ,;€ st!at3 =n g?~axi , a,tt': , i~ratc-~+..u,h (4rr nt, err ,!steno enfvrerm€m of such lien m,
<br />tint -.,.^r,n wfrt'cst f~~ t. ev€n, ,n. _ai=,s:~t_~TM:rtt - : !„r,c;,.,rY „ :lee Prapttt}' rY an.- part thereof.
<br />S. Iiasrasi laataraact. Bc,rrvwer shaft i€>r{+?h€ :mere ~€m€r.ts~+„ ,r rz4.t:ng ,7r h€reaftcr c+c~ted an the Property insured
<br />against loss by fire, 6arards nKeuckvt Sctthsn ttt€ ;trTn ~:tee,uc.t ..r=stage and such «ther hazards as Lender ma} reyusr€
<br />at96 sn su.'h amtnants ~d [c,r h psrn~-+ as 3 4F,'dr ~ ,.,. coke=tc Lr, =eJ€d, chat L;_"rider sh~l¢ r=at require that the amisunt of
<br />such :vvara~ estYxd the: ate-..fFant :;:..,.erazt +c., c.. °,• a -.,.r' , x_=.rrr± y r,s y4ort};agc.
<br />The tasurttxe cacao pretrs6sntY t}te rns.rrar:.€ +nat~ !x ntset, 'oy'Borrow€r sutt3vtt to appeoval by I.eneicr. provttied,
<br />that such approval steal! mrtt 'x unreaa~«.,sfabss +.u`ltxsd ,a:: prc;re,arm ,.n rnsurance po}lets= ,halt be paid .n the maneser
<br />pmv+dtd umter parsgrapia 2 her€ct :rr. ~! :wt pa,~ sz x>.re :riesitcr. is lfatrrawer rnak,ng payment, when due. dsrectty to the
<br />iasur~e cut=er.
<br />1411 im-.tran:€ }x7,i+.:ad arni fe>;cx ua :f,errrt s.^ra6 ~ s. ^ta-'..«..zp~abtz ;u [enter .end ndtut! 4ac3vd€ s stan,L-,rd mortgaga«
<br />;deems to five, at amt rn f ~.~eptanie a.= } crsJe: 5~;:~:: --~..,._...:,.c the ;~rght t,...v;d thr ;htlatreA and rencwa3a iherz,nl.
<br />l~t}r*~3Ye~; ~i}a3i prs}ntptl} t'~t?`t#~ ( .c.s;~at? ~3. C"r.'+=_i -s.>i ^^.C - .. z:t"4j'i: ,': paf(t t, 1'CFi]t:i1Re. SR ih€ e:VCnt <)t tU:S.
<br />Bottuveet slfa}t gtre pramps trtuce€ ac t}xe .-tau?a:wr _arrrrr t,n3 ? d_ki€r i csusr rz,ay male rcx,, ;,f i~ tt net tt,;,de prcmpN}
<br />by Barrasrer.
<br />Unte3i Lcsaa#r ar_.i ia2fra.ru cs€r>.:,e a€€~ :t: ~.-¢: rg_ :.emu. a,~ - - ..: ~'„ 3 ~ ap}~:ed tcf restaratinn :~r repair of
<br />t~ Property dar..aga,1. txavsdrxt s,..., rest..:~.._~> ~ cps„ .+ _,.,..,,.,~ ?t5 .«>. ~se, as^-:i tiu xcu.tty at thrs Mortgage n
<br />thereby impasred, ti soh resi.-:rst:.,rs 3r ;epa,r ;, ::.et c..•.-~Hrsn.a:.} ~ca~tve .~, a '.#,e sa.ar,tr .*t thss Mortgage would
<br />be tmpatred, the srzstsranct pro%ataix skirt}1 tx app,s€.: ;+~ tr,€ =taro xturcil ~t :k~s MattgaQr. u4th the es~ess, if any, pa+d
<br />to tlorrowu_ 3f the Property is absrsS~~ret ^~ (3ctft,wcs ,.. isora,,w€r 'a;:. ,• :nln,ntij t„ }.end€r wuh4n 3ti da}s from the
<br />daft tsotx:e ss ncaaf~ed by L-end~tt to &rrr~+wex rn.; rite .,uusa+~.e .hrrtce <,E`er+ ;., ~,enie .:.ianr tar :nauran~c txrnn¢s. tender
<br />rs xuSlK,`r:atst to cfll~:t and appi4 tFa; nwtarr._ ; °,:~..: _t t_eet,~: > .,}v,.,,; ers_her t~ r€st:*rataar: ar !epair of thr Propert}
<br />or to the surem su:stred by thin Mortgage. +
<br />E3uteas I,tra~x and liarrawgr s>rherw4a:.sgrc€ .....,..rzk. ar:. ~4.r. 3l:} ta.,t„~, < r,a.r,rr€.is to pr4nstpa3 shalt not extend
<br />or postpone the dew. ;date of the tt>•.artn3s mstaiime:at, :€tetreW :,., .n ,,arayrsphs _ _•faa F.erce:t ,~r .hang€ the amount of
<br />atrcha+mialtments. 1t ureter paragraph tit hereut rh€ Pr~~pert; :, a~yaucu h. Leu.f€r .e J; r:gf,t. !;tie and ~nrercst et tdar ewer
<br />m sad to ~ sosurauce poia~ and sa arri tv the p~d,.:€.ecs thereat ~t'suerng tr.+m da4na~ to else Pnspeny prwr to the safe
<br />~ acgttiastmn shrµl pass to dcrtdst tc. tfct estc+tt ~f ioe sumo 'res:ure:~ `-t ?3t c, slurtgagr ~auttedtatc3y prey to ouch sale or
<br />~•
<br />i geaasvaHwr seal a ttf rratprnyt 1.€~aedds; (: Y°tuasd C-aif t)evelepasewh. Borrower
<br />shall haq+ the Property in goad repair anti serail sot cs,mmit +astt .,r }sermtt ,mpairmem :sr dererarcatretn of the Property
<br />asst shall eanspiy with the pravit,ittus of say Setue ,t ihes Martgsg€ is e,u s i€.asa:no3d. {* t3tFS h1ariga(te ix an a sin=e sn a
<br />eaintum ctr a planned un+t daveiapment, Bcrrawe: :ttx3l perfarns ai} : ; ifrs::vw~r s „b},gat:ons undt:r t3te dtclaratian
<br />°------ - e;eati~ csr jra%=~ra:.ng r::r ..u:..a-:t.e , r.; tn~d ....,.~.~€Ectprzs€c:t °!•-' h}-ta=rs ctrl t'=guSatis~s rf tl~
<br />ctit4r¢Na eat planned =fart developnsent., and canstituant daxumenrs. If ;, .:.>rz,ioaniniuns or punned unit deae}c:prnent
<br />ride ~>etta~ t~j trvta an;. rc:ot'# t;;g=ther with tt,ss .Llortgagc, the .aveoants .:+sd agre€atcutx of stxh ceder
<br />shill 1te tttcswpsarated :ttto atut sttal3 tsd and supp~trttnt t1w corcnrrtu and agra€ments of thts Marrgat}e as st the rieler
<br />rust a ptvt f.
<br />?, l! ~ a ;. !! Barraot"er feels }cs ,>s:rtorm the cavettants and agrettttettta ctntaittsd m tlsrs
<br />tlfrartyalpr, nr B arty settees ar procesdiag ,a comrncttctd wh+¢:h materially serer is t.endar's rnterest in the Property,
<br />nactltatt~, A>:4 real iisnated tt~, emirsatst dtnttain, insolvaracy, code entarcctrtcnt, ar arrangetrtrnts nr pnxeedinis inva}ving a
<br />tteadtrtttps,:',~eadartt. then [-xaaier at Lestdar's option, upon rsatrce ts: Harrower, ctsa} soaks such :+ppearanres, .t,sburse such
<br />sr st=d tadte sstsh atti=re m~ rs ~eesary tit ptatact Leg's fntcrest, ,^niudfng. but nrru ttmsttd t+', dssburstm€nt cf
<br />ttn~i+e ~s 1ae~ an.# antsy :p.trt tits Prc~xrtg to ntaks repairs. If !.o==dor :~v}ztiresl ntutgage insursnsr as a
<br />c of ~ thst Ittaav i$c'urta+i tq reels Mortgage, $~r.°raw€t she>l ~}~ s1r. ;,r~emt:,+min rcy:rFrncl to masntsin such
<br />~e 6a +>1>~i rental xrs# tstxss as ttw tayuirernem for sua:ltr irtsstrance terrnsnates rn ;uctrtdattet with Barrtnver"s and
<br />
|