|
~~~.si~#-133;
<br />U~wtx Catv[ixxttrs. Borrower and Ltttder cayenanr told agree as fallows_
<br />t. 1~ et ~ triad Ltferest. Borrower shat) promptly pay wart due the principal of aml ineertst on the
<br />iadebtatlbtEY evitftaaaed by tIx Noss, prepayment and Fatt charges as provided in xhe Note, artd the principal of and interest
<br />eta any FtBtme Advtuiees secured by this Mar~tgage.
<br />1 Frieda igr `fittess rid I~sw>,eiee. Strhjtet to aispficabit law or to a written waiver by Lender, Borrower shall pay
<br />W Leader an the day taoatfily instalhmnts of priricipa! and interest are payable under the Note, until the Note is paid in full,
<br />a titan (herein "F»r~'~ equal to otie-twelfth of the ytatly taxis and assessments *4ttich may attain priority over this
<br />Mortgage, aid gnwaid rents on the Property, ,f any, plus orte-tvveffth of yearly premium installments for hazard ittwrasce,
<br />phis aoo-tvre4f#t of ytmrfy ptanitma irtstatlrmnts far mortgage 'insurance, if any, a8 as reasonably esrimated initiaFly and from
<br />time to time by Ltatder im die basis of assessments and bills and reasonable estimates thereof.
<br />7me Funds shall be held in an institution the deposiu or accounts of which are instued or guaranteed by a Federal or
<br />state agtmcy fiacltiding I ender if i_ettder is such an institution). Lender shall apply the Funds to pay said taxes, assessrnrnfs,
<br />irtauranae premiums a»d ground rents. Lettakr may not charge for so holding and applying the Funds, analyzing said account,
<br />tar verifying sad cornpitiag said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lttsider to make such a charge. Boreoarer and Gender may egrets in writing at the time of exewtion of this
<br />Mortgage that interest on the Ptuxts shall tat paid to Borrower, and unless stick agreement is made or applipbte law
<br />requites ar>c!t interest to bt paid, Lender shall rtrx be required to pay Borrower any in[etesY or earnings on the Ftittds. Lender
<br />shat) give tq Harrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds arc pledged as additional security for the sums secured
<br />by this Mattgage.
<br />If the amount of the Funds hdd by Lender, together with the future monthly installments of Funds payable prior to
<br />the sine dates o[ taxes, assessrrienta, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assemaeitts, insurance ptromitmtu and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Bwrower or credited to Bortsrver tin monthly installments of Funds. if the amount of the Funds
<br />held by Letttfer shill trot be atitBdetat to pay taxes, assessments, insurance premiums and ground rents as they fall due.
<br />Borrower snail pay to Leader any amotmt ttecsssary to make up the deficiency within 30 days feom the date notice is mailed
<br />by Leader to Borrower tcgtresting payment thereof.
<br />Upon payment in full of all sums secured by this Mortgage, lender shall promptly refund to Borrower any Funds
<br />held by Lender. If utxder paragraph 1 g hereof the Property is sold or the Property is otherwise acquired by Leader, lender
<br />shall apply, net later than imtttediately prior to the tale of the Property car its acquisition by Lender, any Funds held by
<br />Leader at elm tint of application as a credit agunst the sums secured by thin Mortgage.
<br />3. A~iCatimi ai Pryseab. Ufdess applicable law provides otherwise, all payments received by lender under the
<br />Nate acid paragraphs t and 2 hereof shall be apptisd by Lender first in payment of amaunu payable to Lender by Borrower
<br />trader paragraph 2 htrtmf, than to interest payable on the Note, then to the principal of the Nate. and then to interest and
<br />prittcrpal on any Future Advatiees.
<br />4. t;,'Itattler, IJeAS. Bortower shall pay all taxes, assessments and other chargtz. fiats and impositions attributable to
<br />lift Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any. in the manner
<br />prmis~ tintler paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due. directly to the
<br />payee thiustrf. Borrowsr shall promptly ftuntsh to Lender alY nvUCes of amounts due under this paragraph, and in the went
<br />Borrower shall make payment direnUy, Bora,wer shall promptly furnish tv ixndcr receipts evidencing such payments.
<br />grower shall promptly deschatgt any tier'which has pnonty eavtr this Mortgage; provided. that Borrower shalt nut 6e
<br />roquitsd to discharge any wch lien so long as Borrower shall agree in writing to she payment of the obbgation secured by
<br />such lien in a manner atxepttttrk to lxrxkr, w shat! in gewd faith contest such lien hy, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the en[orcement of the lien or forttiturt of the Property or any pare th<reaf.
<br />S. Hassid lasrraaee. Borrower shall keep the tmprovemsnts new existing ur heroafttr rrtcted on the Properly insured
<br />against loo by fire, hazards included within the rerm "extended coverage", and such other hazards as fender may require
<br />sad in such amounts and for wch periods as Lender may rtyuirr; provided, that Lender shelf nut require that the amount of
<br />strch covtragt exc~ttd that amvunt of covtragc required to pay the wine sscured by this Mortgage.
<br />The imuraac~ t:artier providing the iosurar,ct shah fit: chusttn by Burrower ubjtci to approval by Ltndtr; provided,
<br />that such approval sha8 net bs unxeasunably withhtid_ All premiums on insurance pulicitaa shall he paid tit the manner
<br />ptrnaidaf under paragraph 2 hwenf err, tf teat paid in such manner, ray BUrruwer making paytmnt, when dot, dirady tv the
<br />itiswaa~e carrier.
<br />All i~tratsst soil rwals tfwreof sftali f:4 in f zrm ;;ct eptable tea fender ans# shaft irchtdt a standard murtga3
<br />ttlause in favor of and in form acceptable to C,ender. fender shall have the right to hold the poiicies and renewals thtrcol,
<br />sail Borrower shah prampriy furnish ro Lender sit re~..:ai ttoticts and nil rsxtipts of paid premiums. €n the avant o€ Ions.
<br />Hot7owtr shalt give prompt txatict tU ttrt itrsurana"e ~a per soil i.ertdtr, ixuder rile} make proof of foss if not made promptly
<br />by Horrowu.
<br />Urdma Leader and Horrowu otherwise agree in writing, insurance prcxt~eds shall be applied to resturatiou tar repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the security Uf this Mortgage is
<br />trot therteby itapaited. I[ such restoration or repair is no[ ccUnomix:ally feasible or i( the security of this Mortgage would
<br />6a impaired. the iosuraatx proceeds shall be applied to the stems stx.ured by this Mortgagr, with the excess, if any, paid
<br />to Bouowu. if the Property is abandotttd by Harrower, or it Borrower fails to respond to Lender within 3U days from the
<br />data naiice is malted by Lender to Borrower that the instuaace carrier otters to settle a claim fur insurance bcntfits, Lender
<br />is awhoriud to txaiect and apply the insurance proeeects at Lender's Uptian eitFitr to restoratfon or repair of the Property
<br />or to the sums secured by this Mortpig+e.
<br />UalESS Lettder and Borrower uSherwise egret ter writing, any such appticarian of pnx:etxis to principal shall nut extend
<br />or paatpcme [hit dot date of the monthly installments referred to in paragraphs 1 and 2 htrevf or change the amount ul
<br />such iiwtallitttttts. If under paragraph 18 Iserevf the Property is acquired by Lender, all right, tiUt and interest of Borrower
<br />in tend to any inuurance poticisa aml in and to the proceeds tfxreof rtsuking from damage to the Fr+perty prior to the sate
<br />err acquisititm shah pass to Ltrxier to the: extent of the stuns secured by this Mortgage immediately prior t~ such salt of
<br />acquisition.
<br />4 hrwatba triad MaWsaaece of Psopttrtyl Letwehaldat C;eadotuiaitiius: Plwaed Udt Uevtdapmeaes, Borrower
<br />shall keep the f'rt~riiy in gtwd repair and shall teat camatit waste ur perruit inipautnent ur detuiotation of the Property
<br />and shall cauply with the provisions of any Iaast if this Mortgage is tin a it;tsehvld. If this Murtltagt is can a unit in st
<br />~uiar>tleitim or a platiatd unit d€vetoprt~trtt, Barrawer ,hats perform ail of Borrower's uhitgations under the 3cs;tarauon
<br />ai Cavpaaats crtatirig or gavernittg the condominium tit planned unit develaptncnt, the by-laws and regulations of the
<br />condarttitsium err phtaatd trait davelopmttru, and constituent dtrcumems. if a cvudautinium or planned trait develuptntnt
<br />rides ie executed by Bartowex and recartkd together with this Mortgage, the covenants and agreements «f Mach radar
<br />shall ba intxuppratad into sail shall amend and supptcrrttnt the uavenants and agretntttits of thrs Mortgage as ,t the rider
<br />wettti a part h~tof:
<br />1. lt'stttetlioa d lteadar'r 5ectttfty if &sxruwer tails us perform the covenants and rQrttentenu contacted in this
<br />14Antr , or if say action cx pr¢eesditq, is commenced which materiaNy sitters l.ernler's interest In the Property,
<br />tits but txrf llmitod m, trniaent domain, ittsptvency, code enl'urteutent, ur arrangements tx pnkeediagz iarvulvirg a
<br />hstalctrtpt w' da:edatit, thin Lesxder at L.ender's option, upon notice to Harrower, may make stick nppearancee, duburst +uch
<br />t<llttts and talSlt stick action as it necessary tU ptUttct l.tttder's intarest, itaciudiry2, taut nut limited tv, disltui3tment of
<br />reuun>thta attne~y`t: fiats sail entry unt7n the Property tv tnakt repairs. tf Under required tn~~n_g'~e insurance as a
<br />c,~ of ~ efte loath s~,~tir€tf by this Mortg'-b=, Harrower sftali pay the pismiums required to nasintain such
<br />itsattrsattao is efilsct wail such time as the raquirartttnt foe ztuh in:uranct terminates in act:+srdttn `~ w,th Hurruwer's and
<br />
|