|
~~.._
<br />8'~- t~u421
<br />cltt~a +E:orslstaerra. Betrs'ar+a asd I.seder and agrte as Eshowe:
<br />L I}tilt:st of ~ rwg ittiMrat. Berrro®~tx sha8 PAY PwJ ""~ ~e ~ P of anti ieterert oa the
<br />itsae6tadoew evide~eed by ~a Ntxs. psepaymmt and tam chargsx as provided in the Ntsx, and the printdpal d and irtteret
<br />m tttny Fame Advaecss atrwectd bq ~ ad«~tgtge.
<br />Z Trir !ar T'leasa sr llesaw~ea. Strbjax to applicable terse ar ro a wrktea waiver by Ltmder, Harresrer shy pay
<br />to laartisr ea the day h' iaRa~ems aE priecspat and. interest are payable uttda the Nde, tmtil she Note is paid in fuB.
<br />a m® fhes~eia "Punda^J txptei to one-twtittit of dte yearly taxes and a~uenents w~hidr may again priority aver this
<br />EWrtp~ and gassed rtt~ as the Property, i€ any, phn oeattve:fth of yariy prem+tmr fee Earned irmaancs,
<br />p9da betatsvdhh of yearly prsmium iratalfinestts for ttwrtgage imurattoe, if asy, aIi as r2atembfij est~tated ittitialiy and from
<br />rims to thee try Leader as the basis of assesatmeou and bilk and tasonabk estimate tttera#.
<br />The Fatds sim9 be treM is as iaatitution the deposits or atxwtmts of which are imtaed or guaranteed by a Federal or
<br />stale age+rcy (int:hrdistg I.rnder if Leads is strh an inuitution). Lender shall apply the Pleads to pay saw taxta, asxurttsnb,
<br />iesffiaaee premiers and gs+oand rents. Clinger may trot cha: ge for w holding and applying tlse Ftmds, anaiyzieg said accotrtrt,
<br />~ vtxifyitegastl tmrnpiitttg acid assessro~ts and bilk, unless Lender pays Borrower infefet oa the Futtds a~ apptiwbk law
<br />petrmie< I.teader to traits snot[ a charge. Borrower and I.etrder may agate in writing at the tires of execution of this
<br />M~1R flat itr~vst ten the F~ shall be paid to Borrower, sad nnkas stst:h agrament is leads or applicable law
<br />audt ittaerat to 6e paid, Lender shall net to required to pay Borrower any interest ar earnings on the Fonds. tender
<br />shttb give to Borrower, witbtrut charge, ae aantrai a¢coutrting of the Futaia showing credits and debits to the Flings and the
<br />ptupaae forwhicft each titdrit to the Ftm~ was made. "Ilse Funds arc pledged as additional severity for the slum assured
<br />hgtlris Mortppe.
<br />If the ts>atrtnst ~ the Funds held by Leader, together with the future ~nthiy instnlimenta of Funds payable prior to
<br />the glee data of taxes, a>asnarmts, ioauance premiums and ground rents, shall ex:.txd the amount required to pay said taxes,
<br />twapelttmta, insurance pretasiums and ground rents as they fall due, such extxss shall 6e, at Borrower's option, either
<br />pro~lly repaid to Borrower a txeditcd to Borrower on ttsonthly itrstallmeets of Farads. If the amotmt of the Funds
<br />bid by Leader shah eat be str~cimt to pay taxes, asaessmettts, insurance premiums and grourxt rents as they fait due,
<br />8orrawer shah pay to Leadu any arnount ntxeasary to ms!ke up the deficiency within 30 days from the date notice is mailed
<br />by I.eadee w Hoat>rver regttatinE paymett[ thereof.
<br />Uptra paymem is fub of all sums ststaued by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />b~ by Lerida. If tender paragraph 18 htneef the Property is sold or the Property is otherwise acquired by Leader, under
<br />aheB apply, txr Jour than i®tnsdiately prmr to the salt of the Property or its atquisitlon by Lcn~r, any Funds held by
<br />Ltsoder of the time of applxatiarr as a credit against flee sums secured by this Mongage
<br />3. ANiitaHaa et ~ Unless applicable law provide otherwise. a!J payments received by Lender under the
<br />Nose sad paragraphs t apt 2 iwreof shad be applied by Lender first in payment of amounts payable to Lends by Borrower
<br />tinder paragraph 2 ttersof. then to interest payable on the Note, [hen to tht principal of the Note, and then to interei sad
<br />principal ao say Fttttae Advamxs.
<br />4. Cbaspl IJsa, Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable fo
<br />tiro Fralfatty wluclt tray attain a priority over this Mortgage. and leasehold payments or ground rents, if any, in the manner
<br />provided tender paraQaph 2 hereof or, it not patd in such manner, by Borrower making paytaent, when due, directly to the
<br />payee thtt'eof. Bo~rtewat shall pteaoptly furnish to l.eatfer all nottces of amounts due under this paragraph, and in the event
<br />Borrnvrsr shall tanks pay~at directly, Borrower shah promptly (umish to Lender receipts evidencing such paymenu.
<br />Borrower shall promptly discharge any lisp which has penalty Hoer this Mortgage: provided, that Borrower shall not be
<br />[squired to discharge say such lien so long as Borrower shall agree in writing to the payment of the obligation accured by
<br />such litm ie a manna ameptalde to leader, or shah in goad faith tamest such lice by, or defend enforcement of suck lien in,
<br />It~al ptecet:dings which c>parate to prevent tits enforcement of the lien or forfeiture of the Property ar any part .hereof.
<br />S ilenstl It sate. Borrower shall ksep the improvements now existing or hereafter erected on the Property traured
<br />agaittet hear try flee, hazards inetuded within the term "extended coverage'". and such other hazards as Lender may require
<br />and in stst~ atmuaa and for such perpds as Lender may require; provided, that Lcrsder shall not require that the amount of
<br />arch twvsrage excad [bat attsount of coverage required ra pay the turtle secured by this Mortgage.
<br />The iewraoce carrier providing the iaaurarr~r shelf 6e chosen by J3errower subject to approval by Gender, provitled,
<br />that such approval nos 6e urrrasawbty withhtdd. Ali premiums on imtrrants paiicica shall be paid in the maaasr
<br />provided aadar pantgtapb 2 kerexd er, d net paid in ta~h manner. by Borrower making paym~t, wtteo gas, directly to the
<br />iaprrattaa crueler.
<br />1W politsies sad r~tvek tJwreeJ shall be in form ar~eptabk to Lentter sad shell include a standard mortgage
<br />tdtltrae in favor ~ red in form atxxptabk to [seder. Lender shelf have the right to hold the policies and renewals thereof,
<br />ass BOtmsrer straA prtrmptly ftrrmi~h to Leadu all renewal notices and all retxipts of pt+M jitrotiums. In the event of loss,
<br />Btrntawer shag gins proarpt snits to tree imtrrantx carrier and Letxler. i.encler may make proof of lass if eat made prampdy
<br />try Borrower.
<br />U4aro I.endu attd Borrwver otherwise ague in writing, inaurartce procttds shall be applied to restoratitw or repair of
<br />the Ftopariy damaged, ptovidad such rdtotation or repair is ecotromically feasible and the security of this Mongage is
<br />nM thtteby impaittid, If such rsstoratioa or repair is trot economically feasible or if the security of this Mortgage would
<br />be itapaired, the inaucaoce proceeds shall be applied to the stun secured by this Mortgage, with the excess, if any, paid
<br />to Borrower. [f the Pro+porty is rbatrdened by !)orrower, or it Horrwver fails to respond to Lender within 30 days from the
<br />date nexia is ttsailed by Lends[ to Borrower that the ituunnce carrier often to settle a claim foe insurance benefits, Lender
<br />K atNhorrzed to tm{iet:t and apply the insurance proceeds at L.ender's option eittser to restoration or repair of the Property
<br />tar to the aerated by thin Meregga.
<br />Udaa I.etrdar and borrower atharwise agree in writing, any such application of proceeds to principal shall not extend
<br />or ptattpoue the dun date of the mmtthly iastaUmusta referred to in paragraphs t and 2 hereof or change the amount of
<br />sY~ itsalellmeats. If ands paragraph 18 hereof the Property is acquired by Leader, alt right, title sad interest of Borrower
<br />in nerd to arty insurance ptrliraes and is and to the proceeds thereof resulting from damage to the Property prior to the safe
<br />ar ac~tristioa shah pan to Lander to tJte extant of the sums secured by this Mortgage immediately prior to such sale or
<br />Z. IhensvaWa tni- ~9airtaaaaro of !'seNaty: LeayeMe~dK Cotdaerbhuos; Pharri Unit Devttlepaean. Borrower
<br />salt hasp the Prdpnrty is gtxtd re~tir sad shall trot commit waste or per'reit impairment or dateriortstioe of the Property
<br />fwd shah cutmply with flu provi~aa of aey Jesse if this Martgagx is on a leas¢holrl. !f this Mortgage is on a unit in a
<br />tz~damipium a a plarsnW unit davebpmeet, Borrowsr shall perform all of Borrowers obligations under tits declaration
<br />tx-txty creasing or governing the condemiajum or planned asst devefopment, the by-laws attd regutatinns of the
<br />txiadtt~stiaas tx plaaaad unit dereiopeaettt, sad cortstitttent doetrrnents. Jf a condominium or planned unit develapmertt
<br />ridat? is stNCated by Bortowor amt rewrdetf together with this Mongr:ge, the covenants and agreemetta of such rider
<br />itrto sad tthail: aaoettd and suppietruent the caveeutts and agreements of this Mertgage as tt rite rider
<br />want a pall htlrepf.
<br />1.. 1t'aaladlats+tR tatstlws'a8acsaity, If Bontawer fails to pertarm tka covenants sad agrssrasnb t~onaitted in this
<br />or # say aetiau err protxedfug is comtn¢nrcd which mntarialty sifters Lender's interest is the Prapstty,
<br />~tac> bra nttif lissind ta, eminent dapaio,-it~o-vsncy, ends eefarcemeat, or azrangemeats ar procesdinga involving a
<br />t~rttfatsyt:ardtttxdeas. tlxa I.,wder at Ltrader's option, upon notice to 8orrawer, may teaks suck appearances, disburse such
<br />ss>a~. atwi t ~iiaa ~ is arr~stuy W protect I,ettder's tnttreat, ittc)trdiag, but .not limited ta, dist>utsettscrrt of
<br />t-atfoaay`s flan sod. entry upon Use Prepetly to males repairs. Jf ixndet' enquired mortgage ittaurattce as a
<br />r` d Hse lase stst:uted hY tlsts Mortgage, Botrawer strati pay the premiums requutrd to maintain such
<br />~ t~iet tr~'d t tip as tits tvgaraasetts f~ such ttwtstar~ iefmi:rstes to aCtardatrc~ with 8arrower's asxJ
<br />
|