|
<br />f9turft~rNirwr ~Caw~¢srrrt!ra^sss: Bo*nowsr am3 Linder covenant ;and agree tts f€rllows:
<br />I. Pie Wit. Otsrrerwer shall prtwmptty pay when due the principal of and intersst on the
<br />mvideaeed by t9te fVots, praps'ymee[ and Late charges' as provided in tits None, and the principal of and ints7CSt
<br />~ ~ Ftrtme Addvatsces aecur+xt by this Mortgage.
<br />S. Fs~a f~'~`stgaa a~ Ire, Subject to applicable law err to a written waiver by Ler=€kr, Harrower shall pa~~
<br />w Lassa oe t~ ley rtttsflthly i~allttxrrts of prinr~pal and interest are payable under the Nott, until the Note is paid in full,
<br />a stttm "Parade"} t~stai to Otte-twelfth of the yearly taxes and assess[net[ts which may attain priority over this
<br />Afor{gaga, sad grcxutd tttttt on the Property. if any, phis one-twelfth of yearly prernfnm installtttents for hazard insurance,
<br />autF twe#ffh d y~Yy pre~rt[i[rn3 inatatlmettts for rrtartgage i[[srrrartce, if any, ati as [easoaabiy estimated initially and from
<br />lima to Time by Leader on ffie twain of asr~asments and hilts and reasonable estimates tttereo[.
<br />The FYsadt aladl be held in antnatitution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />Ram agtmcy !including I.ertskr if Lender is such an inrtitution). tinder shall apply the Funds to pay said taxes, assessments,
<br />its psrraiutsta attd ground rents. Lender may not ehargt for so holding and applying the Funds, analyzing said account,
<br />or veritysng artd cact[piting said assessments and hilts, unless Letter pays Borrower interrst on the Ftmds and ap}dicab#e law
<br />ptt?tnita Y.eader to [Hake stsctt a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />MoRgage that imerest on the Ftrtds shall be paid [o Borrower, attd unktx such agttxment is made or applicable law
<br />rogtdros each irtttrat to be paid, Lender shall Hat be requittxf to pry Borrower any interest or caminga on the Furtds. Lender
<br />ahaB give m Harrower, without char. an annual accounting of the Fttttds showing ctsdiu and debits to the Fulda and the
<br />paapuae [er which each debit io the Funds was made. The Funds are pledged ss additional security for the sums seettred
<br />by thm Mott~sge.
<br />if the amount of the Ftrrrda held by Leader, together with the futttrc monthly instal-rnents of Funds payable prior to
<br />the due data of taxes, asaetamdats, immrance premiums and ground rents, shall exceaf the arr[ount required to psy said taxer,
<br />irtsraratsre premium4 and ground rents as they tall due. such excess shall be, at Borrower's option, either
<br />promptly repaid to Btxrower ar credited to Borrower on monthly installments of Funds. [f the amount of the Fttndc
<br />held by Leader shalt not be s[tff+cieat to pay taxes, assessments, insurance premiums and ground rents as thty fall due,
<br />Bntttnrer that! pray to t.eader any amount nceessary to malts up the dd'iciency within 30 days tram the dale notice is mailed
<br />by Latatter to Borrower tegtsesticg payment thereof.
<br />Upon payment in ftdl of all ttmta secured sty ¢his Mortgage. Lestder shat promptly refund to Borrower arty Funds
<br />held by Leader. Tf under ~ngraph 18 hsr[tof the Property is said or the Property is otherwise acquired by [.ender, Lenskr
<br />tshalt apply, rto later than immediately prior to the sale of the Property or its acquisition by Lander, any Fttttds had by
<br />lsmder at the time of apgticatitta as a credit against the sums stxur~ by this Mortgage.
<br />3. A~iiatltta of Utdas applicable law provides othernise, at! payments received by Lender wader the
<br />i•E€tbe attd paragraphs S a~ Z hereof shall hs apptied by fender Hirt in payment of amounts payabrc to Lett. -- ~r :..~...AO:
<br />t~rr l 3 lmretrl. thuur to interest payable on thx Nate, then [o the principal of the Nate, and then to inttrat and
<br />ptctr~ipat on any Future Advattcses.
<br />A. ~ tlJust. Borrower shah pay ail taxes, assessments and other charges, tines and impositiotas attributable to
<br />the Propsety vrhidt tYtap attain a priority over this Mortgage, attd lessehold paytnrnts or gtwnd rents, if any. in the maaad'
<br />proriiied wader paragraph 2 hereof or, if not paid in such manner. by Harrower making paytoent, when due, ditss:tly to the
<br />payee tltarectf. Bttrroaver shaft promptly €umish to Lender all notices of amounts due under this paragraph, and io the evmR
<br />Borrower a6a11 make payment directly, Borrower shall promptly- tumiah to Lander recsipts evldettCiDg such payments.
<br />H®rrt;wax ! protnptty discharge any liep which hss pnonty over this Mortgags: provtdeaf, that Borraswer shall star bC
<br />tegmre+i to discharge any such lien so long as Borrower shaft agree in wntttig to the payment of tits obligati€m secured by
<br />such liras in a tt~aer as;cepiai~ to Lertifer, or shall in gtmd faith contest such tan by, or defrnd enforesment at such lids in,
<br />legd proce~irtgs which operate to prevent the enfarcemsnt of the Iten or fotfetturc of the Property or any pail thoteof.
<br />3. HWe1 tlatataeee. Borrower shah \oap the improvements Haw cxsatrng err hereafter erectaf on the Pr€rperty tttwred
<br />agairut Its by tlre. hazards included witltm the icrtn °cstetxisd corsragc". and sorb other hazards as Lender may rsxtitire
<br />sad in such asut[znta and far such periods as Lender may reyuirc; provided, that Lertifer shalt not r+cquirc that the amount of
<br />sum ttivsrage exsx:ad that atnosrr~t of eaverage rzyuir~d to pay the sum3 ~rired try rhea Mortgage.
<br />'i'ha ira i~-~r ~.~.~ tl~ iitsirrra.~e shall ~ ~'xss.°n by Borrar sii!+;.~z ze ;roust by L art; pravid~,
<br />that attctt approval sltdf not be uttreasonabiy withheld. All prrattiiuns wi inwraan~e pcdicta shall be paid to the snanaer
<br />providal uacier paragraph 2 hereof or, tf scot paid in sixh mtumer, by Borrower malting paytstent, wttrxt due, diaa'a-tiy to the
<br />irk
<br />in :~ =.~Y ~z__ ~_~ r»-wa;? *~rs=~t ;h~?t4 t~ ;n _t 3err, ,.._ _sptabis [c Len.ier and sizaii io4iu~ a siandani R+atgagz
<br />eliaiee io favor of sad in farm aci~ptable to Lender. Lender shay: have the right to hold the poiiezes sari rs=nea~fs t1~.
<br />aaciravw~r a'&$il t$7 iw ass ti Ls``°s air rc:~;.a= -_ _ ar=m a.=3 [""';rip'u ~t p pr4E:i:.:"`. .;= tt~ ~";<-t3t =?- '~.-
<br />g~ z~iz~ tv =~=~.ar;a-x~ ca.°=r3-noel 'u°°mzr. 1.~ ~ tn~y r=:a~ ~z if :. ~ mm~ -~~s
<br />by Barotrtr.
<br />UeYa t.satier sad Borrower otherwise agrce in wnung, insurance prui:ceds shall be applied to restoration or repair of
<br />the Property dsatag[xf, provided sitcft restoration or repair is xosiornically feasible and the se€:urity of this Mortgage is
<br />cot ehatshy impaired. if stacfi restoraiaon or repair is not etartamically feasible or if the security of this Mortgagr wswki
<br />6s brad. the iattsrAOO6 pro€xedt shall be applied to the sums saxured by this Mortgage, with the exacts, it any, pad
<br />w Horrotrer. U the PropeRy is abandonmd by Barrowu, or tt Borrower fails [o respond to Lender within 30 days from the
<br />t#ste rtaaioa is mailed by Lander to Borrower that the insuiaaace carrier offers to scale a claim for insurance bettefitt, (.ender
<br />is ar>Woritad to collect sad apply tats rnsruarrce pracas:ds at Lender's option either to restoration or repair of the Property
<br />or to the tttttas secured by this Iv/or[gagre.
<br />t3alts:s Lena~er sad Borrower otherwise agree in wnurtg, any such application of pra:eeds to principal shall Hat extond
<br />or pttKpae~t the due date of the monthly installaatnts referred to in paragraphs t and 2 t[erwC err change the amount of
<br />saar~ nnaElmeatt. If irndtx paragraph Ig hreof the Property is ac.luired by Letixler, alt right, title and interdt of Borrower
<br />t~ sad is arty ias~raarx polis~s and iaa aril zo the pzo-esds thereat resulting from damage to zhe Property prig: to the sale
<br />oic ~ chaff pats to Leader to tht extent of the :urns secured by this Mortgage immediately prior ro such cats or
<br />~, ~taarvatlati anal Maisiaanca of lPSagiettY; fareDteldet CoMaaiaaat; 1?Iwaed Utsk Devdepiatea4t. Borrower
<br />shall ~ the Proptatysa goad repair and shall not cosut[it waste or permit impairment err dderaratioa of the Property
<br />srd t ra~IY w~ia tits- proriaions of any iea€e if ttttti Mortgagr is au a Ica>iehold. If thin Mortgage is an a wait in a
<br />ar s ~ ss:3i isve~~t, Bitrrsaw€r strati perfarna al! at grower s obligatiotat under the declaration
<br />ar coatae~s crrairitg ar governing the cartdominium or planned unit devetopnti:nt, the by-laws alai regtdations of tht
<br />--~~^-^;.:um r~ pfd tam dint, alai constitt~nt dactttt~nts. if a wndarninittm or piatutsd unit atcvciaprs~rt
<br />:hsllimr d iutaaa~td by Barrwata a~ reeorduf tagethu with this Mortgage. the roveasnts and agreements of such rider
<br />tint! ba raCiupcsndad law and strati attaessd an[I supplemaent (tie covenanu and agreements of this Mortgage as iF the rider
<br />tame a pars .
<br />7t. t4Alnrfiaa aE twoitfa '• If Brmov~r fa,Is to perform [Ise i:ovrarants and agrsemznta cintaiited in this
<br />art ~ era} acti£in ~ proms rs cornnsencsd which matsriafly tstfscts Lender's interest in the Property,
<br />~, not lfBaib9 d ter, caria~CM dirnsain, rasalvency. Cade entaFCiment, ur arrangements or praceedingt tnvalving a
<br />~ ~, than Laadsr w Ladder's aptian. upon notice to Borrower, may snake such arances. disbars.: such
<br />tares ~ t tats ss is accessary to prutee:t I.endet's iniererit, =acltrdts[g, but rr~t limited to, disburssmen[ =•t
<br />€ia rwrts t'aai sad s+Nrq uptrtr the Property tci make repairs, if lender required tnrartgaige irniirancr as :€
<br />r:ea M ass{aat lairta se+cwrbt by this klarrigage, &xrowsr shall pay the pt¢miums rcittttred to mairrta:n va:h
<br />aatttaaiat le s~Riet trot were tdst as the regturemant for sts:h itatirancc ierrriinazes in ai:cardarxe with Itorruv:er's and
<br />
|