|
81-a-)E~2191
<br />Ux>FOteaa Covexavrs. Borrower and Leeteter covenant and agtroe as follows:
<br />!, ~ ~ clad ltNereat. Borrower shall promptly pay when due the principal of and interest an the
<br />irsdobtedaas avideaced by the Note, prepayment and talc charges as provided in the Note, and the principal a! sad iattrat
<br />®at trey Fuuure Advances xrured 6y this Mortgage,
<br />2. ltri f~ Tattw aasd lxwtatace. Subject to applicable taw or to a written waiver by Lender, Borrower shall pay
<br />to Leodc oa the day tttonthly installments of principal and interest arc payable under the Note, until the Note is paid is full,
<br />a stmt Lhttittda °Ftinds'9 t:ytral to one-twelfth of the yearly taxes and asseastnents which may atffiirt ptiorty over tt€h
<br />'~, at€d $mts€d ran€a era €t~ praperq, if any. Pius atttt twelfth of yearly premium ittstalltnents far hazard insurance,
<br />phs otto-twdith o! yearly premitna iastalitetenis for tnortgsge insurance if any. all as reasonably ruimstad initially and fr+tem
<br />tittle to time by Lender on the beau of asssaarnents and bills and reasonable estimates thereof.
<br />The Ftu~ shah tae hrld in an itestitttiton the deposits ar accounts of which are inattred or gtsaranteai by a Feral q'
<br />stau agency fitscEndfng Leatta` if ).caller is ssxh an insritution't. Lender shah apply tits Fonds to pay said tars, a+temtrt~tta:
<br />imurance premiums atxl gtantxl crate. Leader may not charge for sa holding and applying the Funds, analyring said atxrotutt,
<br />or verifying and compiling said assessments and bi3ls, unless Lender pays Batsower intetea! on the Rinds and apptiwbk law
<br />pesatits Lender to malts atte~r a charge. Bptrower and Lender may agree in writing at the time of exetntdon of thin
<br />Mortgage that interest an the Futtds shall !st prod to Borrower, and unless such agreement u made or apglicat~ law
<br />reepeirsrs larch irt[Gest to be paid, Leafier shalt nor be eegttitnd to pay Borrower any inttreat or earniaga on the Ftutds. Lender
<br />shall giya to Borrower, witirout charge, an annual accounting of the Funds showing credits and debits to-tree Ftettds and-the
<br />purpose for which each debit to the Funds was made. 12se Funds are pledge) as addieiottal security for the sorter seemed
<br />by thss Mo*t~.
<br />t# the arnouat of the Funds held by L_tnder. together wuh the future monthly instailtrtents of Funds payable prior to
<br />the doe dates of taxes, asstssmmts, insurance premiums and ground rents, shall exceed the amount requires to pay acid taxes,
<br />a;ents, ittatuance premiums a~ groom) rents as they fait dot. srxh ucexs shall be, at &xrtawer's option, either
<br />prompdy i-epaed to Borrower or credited to Borrrwer on monthly imtatltutnts of Funds. If the atnotmt of the Fnnda
<br />h~eM! by I.tetder shtsll naa be suit to gay raxu. assessments. insurance prcmtums and ground rents as they fail dire,
<br />Hotrosrer sfsaU pay to Laa~r any amount necessary to make up rise deficiency within 30 days from the dais eto[ice is mailed
<br />by Loader to Borrow'tr ttrptesttttg paymcm thercot
<br />Llptm payment m full of all sumo secured by this Mungagc. tender shall promptly refund to Bottower any Funds
<br />held by t.ea;der, If tinder paragraph i 8 hereof the f'raperty es 4otd or the Propertt• is otherwise acymred by Lender, Lender
<br />shall apply, na later than itrtm::.fiatcly pnor ut the 5atc ut the Property ar ns acquisition by Gender. any Funcb held by
<br />Leader at the time of applkatian as a credit agatttu the sums secured by this Mortgage,
<br />3. A~Ilea~aa of pgaasalt. llnfess apptieabte law praFtdes .,thtrw'ist. alt payments rectived by Lender under the
<br />Nate and paragraphs ! acrd Z Hereof shalt he applred by t_cnder Frst m payment of amounes payable to Lender by Borrower
<br />ua~r paragraph 2 hercat, tftest to rnttrest payabit an the 'vote, the+t fie the pnncipai of ttte Note, and then to interdt and
<br />princips! an any Future Advstsces.
<br />>ti. C'!wf[est I.itans. Borrower shad pay ail tascs..t+acssmrnts .end .ether e.•hargts. fines and impositions atfiibutable to
<br />the property which may attain a prwrity :fiver this 41urt~agc, and ;tasehoid payments .,r ground rents, if any. in the manner
<br />pronefed undo paragtttph Z hereof Qr, :f act paid m stx.h manner, ht Barre;w+;r making Pa}"went. when due, directly to the
<br />payee thereof. Borrower shalt prtimptfy furnish t~s Lzitdrr ail tstnicet of amounts due under this paragraph, sad in the event
<br />Barro+ver xhslf make paymtat dtrccuy. Bcrrawer .hall iuumptt} turtsish to i.cnctcr rescipts cvtdcncmg such payments.
<br />Borroevet shall promptly ducharge any lien v.lt,~h lass pr;,r;ie' .+ser th:c '=iartgagc: }*rnvtded, that Bormwer shall mH !>e
<br />,•equirted W susehargc say ~h lun s<. lung as Ftnrrrn:er shalt spree ~~: ~r.ung u, rho pavsuent of the ubhgatian steurcd by
<br />such lien en a manrset ac:.eptabit to L.trtder..x shalt n, gi tit sans a~nscst +uch i+srt hv. cr defend enforcement of such ties in,
<br />Itgal proctneditigs whiCft operate to provost the crf.+r~ement ++t 'he tae=.t .,r t,arteourc of the Proporry to any part thereof.
<br />5. illssastl ftttttrraei.s. Liatrawer shalt keep the impre;emen+, .+~a rx:sung :^r nereatter erected tin the Property tnsi:t cd
<br />asattut ilea by ftrt. hazards ins#uded wnhtr. the term sttndcts .ovcrape and stir h other hazards :ss [.ender may requue
<br />sad in stxh aitxwatrs and fur such perirxls as tender may ecyusrc. ;*r+:+edt•.t. that ;.ender shalt nut rtquirc that the amuuaY of
<br />stteh coverage txexesi that amsivnt e:f iuverage reyusreef tc pay t'xc x,n:s .cc+.rcd by this ~tortgago.
<br />The itrwrtttsce carrier pravidia$ the tasuratscc stsail he :tinrcn by 8arrower sub}ect to approval bye Lender; provided,
<br />that sueri approval shall not trt unrxsaht} wrtnhckd Vii} Pretnrums tx ntsurantie puiietts shale be paid t,r the manner
<br />prrtvtded under paragraph 2 hcrttit ar. if not emd ;n such nsanttet, by &atrowti irtakmg payment. whin due, directly to the
<br />imtaraace curia.
<br />AIS iaatrrance pttticite anti reaewais tntre 31 strati t~ rn farm a..eptahte to gender and shat! iix:tudc a ,tandard mortgage
<br />cfaese in laver of sad in farm ac~ptalsio i*? Lender, t_crtdcr 4ttaii have the right t.e hutd the pa}icies and renewals ihereef,
<br />and Borrna:r xhalt prorttptlp futaish to L.tridtr a:l rrrecwat nut;~~s and ati rtctipts of paid premium,. In the evens of loss,
<br />t shall give prompt imtxe to rite insurance ,arner and ixnder. i.trt:'.rr may° make pram of toss if not made promptly
<br />by Bo:toxtr.
<br />L,t~ I.eteder and gorrctwtr s#htrxvtst a$rrt m :srtting, insurance prtxecds shall x applied to restvratian ur repair of
<br />the praparty damsged• provttuxl zu<:it trstaratacn ur repair ,s ccon:.,mtcaliy feasilste and the securty of this Mortgage is
<br />itat theretty impautaf. if zilch .*cstoraiusn tat rtpa:s zs not r~c}rsamiEaitY tcast6te or :t ;he stturity of this Mortgage would
<br />ht rinpsai~. the it~tranee proceeds shall be applied to :hc sturss sexured by this Mortgage, with the excess, if any, paid
<br />to Btxrotver. If tlx f'inptrty ss aL,attdtitsed hti ilvrrtnver, srr it Bnrr+*wer fails t<t respand to i_endcr within 30 days from the
<br />date aotke ss marled by. Lender to 8osrowtr chat the +muratstx ::arricr ittcn tQ sonlt a . arm for insurance herietits, Linder
<br />is attt6ottzad to catkcs and apply the ertsuraner proceeds at Lender's option either to restarauon or repair of the Property
<br />:x to the tavar sacuro>t by this !+tarigagc.
<br />IJt Lender and Bcxrawer cHl'~twtse agtsx .n wnun$, any such applscation t,E prm;tcds to prncipal ,hail not cxteod
<br />ar pzutpone ttse due date of t!x inanthly inataitmcnts referred tt, ,n paragraphs :and ' isereaf ar change the amount at
<br />stale ttsstaiiments. if under pttua~aph tit tseroat rho Prcrpnrty n acs}uircd b~ Lender. ail right, t.tk and interest of Borrower
<br />ra sad to say ireaurassce poiscies atxi tit and to Ibe pro`etds tbercot resuit:ng [rcem demage to the Property pear to the sett
<br />or tsagtnutiat sira[I pass to ).,cadet u~ ittt cxttnt of tiro sums s+xvred by tests !siortgege immedtateiy prwr to uich xale ar
<br />b. lsetwrat~ ttrtsd Alttiittfetsaest of Property: i rreidtlat l'osdesiwirrvnt; lvtauuaed tJtsit lkreloptsseeek. Borrower
<br />fmap the Property to good repair and xhadi rat: commrt w-atuc ix permu impairment or deteriotatroa of the Property
<br />,toad shall ` with the provratoos of any tease it inn Mortgage is an a lcasthoid. !f this Mnrtgage is an a umt m a
<br />G,nndelaloiuna ar s planned tint3 devttsxpracnt, 8umw.er shall psrtorm all of 8arrttster"s ~,hiigauotts urukr the dociarstian
<br />at ex7v creating ar $averatag the ~atuiamineum c+s ptanttal unit development, t_ht tw~iaws and regalatinns of the
<br />- air pitnnexi uau gym, and canstrtxrst twcuments. tf a corixiammium ar pkanrscd trait derott+ptsterst
<br />rills[ ni.exaaatted {~, tf cart rtxsided tagethcr wuh Ibis Ntmgage. the tioycaants acid agreements of stu:h nder
<br />rfrstB Ere ,yea a4tl shall atnead scut suppiemem the cavetsaats slut a$reetnents of this Mortgage as if the rider
<br />+sass a part t'~+ettd,
<br />9. Peseae~aa at feetsdw'tt It fiorrawer fads fu pca-irxtirs fine t w °°5 st:.i °"restT°ats erttrainee ;n this
<br />~, ~ jf ~ ~ or atg is caatrtscaced which materiallyuaifet;ts #.emkr's iivamsi in tine Property.
<br />Wig, trot net Iimited ta: tSlnitfttnt dcsiteain, itutsttvttrCy. Cade enfttrtemeot_ or arrangtrrreema ar pnscxedintn involving a
<br />~ rtt datad+ant: atria l arttlar tit Leader's optti€rti, upon tsa=tce to Botrowtr, may nsakt svefc appcatantes, drsbarse such
<br />atrea and titdse atreb ae~ian as a raemeaary ur tsrc+t+ci lzttder's intrrta€« tttcitnltng. but rent limited tit, dishutstrnent of
<br />y~ 3t`~ ;tease stet-#it~r upon else ltrstpurty t;<s mace rerx, iF Lender rrquired tmwiipge instnsanrr as a
<br />gf ~. ties eet:~sass€1 by this Mgztsaje, 8at7r.;<weat shalt paro tI~ premivttis ret}viir+d to maintain streh
<br />inantrtattlt is tsg+aat scteli tuna s>4 the rvegruremrnt for atrch isssveaneis terrninaldY m accissdance wits Bartrrivet q zed
<br />
|