|
g~.!:x,~~~i3~.rl
<br />UtJii:oaM COYEN~;:7s. Borrower and lender t:osenant and agree a+ follow,
<br />1. lhyt®estt of Pflarlpal tmd IMtirest. Rr+srt,uer shad pramptk pav .stern r3uc the p«nctp:,i of and mterest .,n the
<br />indektedneas evidenced by the Mote, prepayment and late Charges as nrovtded rn the ',.nee..+nd ?hr principal ut and tnterty
<br />on arty Future Advances secured by th+s ;ti#artgage.
<br />2. 'L?w~ for Tares toad Ilatmraece. Subject to apgiicabie taw or to a urnten waiver b} [ender, Hnrrawrr shall pay
<br />to Lender on the day monthly IrrstalimenK of principal and interest are payahie under the Note. until the '\nte tc paid in full.
<br />a sum (herein "Funds"} equal to one-twelfth of the nearly taxes and auessmemc which ma} attain pnority over this
<br />Mortgage, eyed ground rents on the Property. R am'. plan one-twelfth of ,early premnrm installments for hazard insurance.
<br />plusorte-twelfth of yearly premiurrt instaAmems tar mortgage msurance.:f any. alt ac reasonably estimated initially anti from
<br />lime to time be LettdEr ors the basis of assessments and bills and reasonably estimates thereof.
<br />The Funds shall be held in an institution the deposes or accounts of which are insured or guaranteed by a Federal nr
<br />state agency (including Lender if Lender is such an institution f - 1 ender .hall ,+ppk the Funds to pay said razes assessments.
<br />Insurance premiums and grouted rents. Lender may not charge h,r so holding and appk~rng the Fund,, analyzing said account,
<br />or verifying and compiling said assessments and hills, unless Lender pays Borrower utterest on the Funds and applicahle law
<br />permits Lender to rnakt stmh a. charge. Borrower and !.ender ma} agree .n wnung at the time of exeeutinn of this
<br />hforlgagt that interest an the Funds shall be paid t+~ Harrower, and unless such acreement n made or applicahle law
<br />requires such interest to be paid, L-ender shall not },e required to pay Harrower .en, uurrest or earnings on the Funds. Lender
<br />shall give to 8orcower, without charge, un :moue! accounting of tar fund, ,hawuie credits and debits to the Funds and the
<br />purpose far which each debit to the Funds was made. fhe t-unds arc pledtrd as ad.inwnal security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender, together wah the funvc monthy imtdlments of Funds pavahic prior to
<br />the doe dates of taxes. assessments. insurance prermums and ground rears. shall rxicrd the amount required to pay said taxes,
<br />assessments. insurance premiums xnd ground rents as the} tall due, such Czecss ,hall itt. ::t &xmwer's option, either
<br />promptly repaid to Borrower or credued h, Born+uer on month!} nt,tallmcn;s n( Funds. If the amount of the Ponds
<br />held 6y Lender shall oat be sufficient to pay taxes. assessments. insurance premmms and ground rents as thep faR due.
<br />Borrower shelf gay to 1-trader any amount necessan to maAe up the drtiirenis wrth+n 30 dace from the date Warier is marled
<br />by Lender to Borrower reyueshng payment thereat
<br />Upon payment m full of all sums secured bs this 'sfongagc. I coder ,hall pn,mptly refund t+, Harrower any Funds
<br />held by lender. If under paragraph 18 hereof the Pntprm rs sold or the Pn+pcnt r, othensnC acywrcd by I ender. Lender
<br />shall appi)•, no later than unmcdiateh• prior to [he .alt of the Proprrn nr a, .iryuiouon h, {ender. any Funds held he
<br />Leader at the time of application as a credit against the sums secured h, ihn ~fnngatte
<br />3. Appiictttion of Payments Unless applicahle law proxies nthrnsi,r. ail ryrsments rece:eed by tender under the
<br />Nom and paragraphs I and 2 hereof shall be appbed by i-ender fins an pa. incite +•t amounts pavahie t„ 1 ender },} Hurrouer
<br />^nder paragraph Z hereof, then to mterest payable em the Note. ;hen t+, the pnnapai eti the Note, .end then x, mterest and
<br />pnncrpal on any Future Advances.
<br />i. Chariest f.iem. Bnrrouer <ltall pas .,11 t.+xe,.:r„r.,mrnt.:,nd ,aher ~hert;c, fines and rrnposttrnm attnbutahle to
<br />the Propttt}• which may attain a pnarity over this ~tortgagr, and Itaschohi pacments +,r gmund rents. iC any, in the manner
<br />provided tender garagraph 2 hemof ar. ,f niu peed m ut:a: m:mner. he Hormwar rn.rkure pa~tnent. ~<hen due. dirccdy to the
<br />payer thereat. Borrawer shalt promptiy~ turnrsh to !.seeder ail nooses of :mtuunn Jur under ib,s paragraph. and in the event
<br />Borrower shall make payment drrcctls. Hotrowrt ~hnll prompts: turnnh i++ L<•nrler receipu r:idenang such paymentx.
<br />Borrower shall promptly discharge any lun -.,htih nai pr;nrac +"er ihn Afungagc: pn,cidrd. that Herrowcr ,hall oat hr
<br />rcgwred to dixhargc any such ben , ~ long ,,+ H.>rr:,wee ,halt/ .rgrre u, ,. i nrng t++ nc~ }+a~ntem ++t the nbbgauon ,reared by
<br />such lien to a mangler aeceptabie ur i.endrr, ,+r *haii ;r. ,;:+.+d faith : xur,+ ,u:f; Iirn h;. nr defend enl.,rrrmertt of such lien in.
<br />legal prec:ecdrngs which operate to prevent the entor+rment at the lien :u torte,ture of the Property or ;m~ part thereof.
<br />S. Hazard lttsuraact. Horcuwer shalt 6cep the +mpra+rnicnts now rsr,bng nr hereafter rrcctrti on the Pmpcny insured
<br />against toss by fire, hazards utciudcd wrthut the [ecru :stendrd e.+vrragr'. and ,uch other hazards as lender map rryutrr
<br />and m such amounts anu lur such penod, us i rmlct rocs t.•yuue. pnnrded. that 1 rndrr .hall nor r<•yutrc that the amt+uttl of
<br />such Coverage exceed that amount nt <++, rrage reyurred ;:, pa, the unit, ,<•cured h, the, \(ortgaer
<br />TYtt insurance Carrier prevr$ttrg the ,nsuran<e .haii he >;.,srn by fsar«~urr ,uh!ect to appru.ai l,y t endrr;_provided.
<br />tkat such approval shall oat hr unreaumahty wtthheid .4ii prenuunrs ,:n rnwrauce p.dtcrrs shall hr pard m the m,mnrr
<br />prondtd under paragragh 2 hetral or. !t not pard u, vi< s maunri, ht Hunssvr rnakutg payntrn4 alien due, dtrccHy to the
<br />insurance carrier.
<br />All irtsurnre palrir~ ~rrd ter-~.~s_ t~.<;;e +h, ._ , ~_::=t;; .h:. r., ! r-t _~ rs:l !'al' ..<! d- .;;lard ;,. •ttga~e
<br />clause m favor of and m karm acCrptable m l.cnde% { ender ,h,rll hasr (hc nght t+, itoid the pail:ir, and rcnrwai, t+herr,+f,
<br />and Aorrawrt shall prz~enpiit` furnish to lender alt ,~-;eu at naitces and reel recerpts ,+f pard prene, e;ra. in rte rent of f+yss.
<br />B>rrower shall (tlFe prnrnpt nQnCr td ihr raOitrlfl~r <arrter .IOd I ender i rrtifl't nlati :~,.ake prth4 .-~. toss if n~,i m.-fete pmizrpti.
<br />by Borrower.
<br />Unless Lender and Borrower rthrrwrsc agree u+ sitting, msut:ui<c pnxcrds shall hr applied to «-,a,rrtian or rtpnu of
<br />cite Praperiy damages, pnwrded such re>turauoti or repine i+ rcrmonu<alty [rasihlr and the ,ec unty of th+s Mortgage i,
<br />trot thtsteby' imparted. It stash rcsturauon a( rcpau is not reonomi<aitt tiavMe or ti the secants o[ Ihn Mortgegr w•utdd
<br />be tmpatrrd, the insurance prsxrcd> shake he applied to the soots xiured h. the Martgagr- soh the ezccs.. if any, pard
<br />to Harrower It the Prupttt} a abandoned hs Horruwrr, ++r n Hotrower earl, to re,{xard to I rndrr wdhw _lU da}, from the
<br />data twttct is mailer! by Lauder to Borrawer that the utsurmtce carttri +=tlrr, cu .ruk ., <laun tar uuurauec henetin, 1 ender
<br />is aulho«zeaf to atlleCt and app!,- the tnstrran<r prsx;erds at I.ettdet s ++puon etttnr to restorauon or rtpatr of the Progrrt)
<br />ar to the sums secured h) tins 4longage
<br />Unle~ Lender and H~rcuwrr otlterwts<~ agree rr, wrrung_ an± auclt appbtiauon .+f p«~Ceds to plena teal ,hall nut extend
<br />or posl(ronc the due date of the mandtly insta0mrnts rcterrrd t.+ to par, grsphs and hrreot or change the :unount of
<br />such tnxnlhn+enfs. It under paragraph i S herr<rt the Yn+prrts n a.'yuucJ h} !.rndrr. ail nght, ntlC and mtereu ut Hormwer
<br />in and to an)' insurance pc>Jit:ies and in and to tree prs,s:caa-is thrr~,t rnustrng loon dvnage to the @ri+prn) pi err to the safe
<br />or acyu~itxtn sltall pa3s to Leader is the euent .,f the ,ant. relayed t>s this ~},+rtgagr unmrdiutely pour to ,uch sale ca
<br />acquisition..
<br />6, hasanatloa asd Naltsteaaarc of Proper[}: I.et~tholtb; (ortdeminiu+nrr: Phoned l!ai! ih•vrlapmeats. lintrower
<br />shall ktGp flee Property in a~'ri repair and shall nut Contmi[ waste +?t permit ,mpatrntent or dttetturatrort ui the property
<br />and 6kail cimtpiy with iht proviuans of any lease .f thrs Siangage n .+n a leasehold. IC this SBxtgagr +, on a unrt m a
<br />ct3niltTntimurtt or a ptautttd ttttt; rtevelapntc-.nt, Ht-rr:;wee ,hall pr'rt.,tisa all of Hc.rrowet~s i,hbgaunns ainda'r chi declaration
<br />or cavenautt: crtaiiitg or govtrmnlt the conduntinaum ,+r planned renal devetopnrcnt, the by laws :end regula«on, of the
<br />carrdcuttinium ar planned unit dcvrfupmrn6 and rottstinrrnt dacumrtrr it a candumtntum ar pkartned ++mt <ie.<-lopntent
<br />tuJet is executed by l3orrowet and recorded a,gethrr w,th this t#ortgage, the iavenarttc ,end ugrcemertts :+i ,uih nfkr
<br />sball be tcwarparated toio and shall anxnd and supplrntr nt the cos enants and ngrrements nt the flortgagr as i( the n,let
<br />+ttca a part tttroof.
<br />7. 1MYfaUect>>ow at f.e~der's 5ectttrity. It Harrower tack t+t preform the covenants an<i agrcrrrn•nts contwnrd m thrs
<br />~rlt:+ttga(lt, sir if any aettan at prosrxslrag rs :ornrrterxeci whtc}t matetialiv atfrsts t etrder s rnterrst to the Pn,prrty.
<br />Inr:luderrg, lust nW Itmutd to, emtncnt d<tmain. trrsnivenc}, sadr enturirmrnt, ur arrangement. „r I,r.r<rcJings rr,sulstn~: a
<br />hsutltrupi ar decedent. [ken I erx#er at Leader's eptaan, upon noose ra Harrower. ma} nral:e ur:h appearance,. d;shunr such
<br />stit#s atp# take itr!ch arrtian ax is ttect•sar') to protest l.trtder.c mterest, mitudtng, nut nut timrtcsi to, dast:uncrnrnt .+t
<br />tggttttttt4fih gitomey's t~s attd entry rep<ut the Property ire make repairs if !.ender reyuirect mortgage iitsuranrr as .,
<br />4-:tltr}~i.sn of nytkkut$, t~ lean ~4~eJ by [ht+ Mcsrtgagt. Bsrrnwer shall pa} tl+r prrn±rurns r*'~rirrd ra rnaurtaan such
<br />iaaurancte to c9eer ants! such tttnC as ;he res(utttment fur :uch =nsuratrce t+-rrninatrs .n ac<ordansc urth H<>; «,wcr\ cost
<br />
|