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Home My WebLink About0620 . , ~ . i , i 1 Tocgrx~e with aU buildings. improvements, nnd t~b now or Lareafter er~cted on the perty, and all heretofore or hereafter vacated alleys and streeb abutting the property, and all easemenb, ts, apptut~- nances, rents, royalties~ mineral, oil and gas rights and pmfitt, water, water rigbts, and water sto~pgurtenant to t6e pruperty, and all fuctures, machinery, equiPmeat, building materisls, appliances and goods of every nacure ~whatsoever now or hereafter loc:ated in, or an. or used, or inteuc~ed to be used ia connection with the P~PeKY, induding, but not li~nited to, thoae for the purposes of supptying ar distrtbutin~ heating, oooling, . electricity. gas, water, air and lig~t; and all elevatora, ~nd related machin and eqw ent, plumbing bath tubs, water heaters, water closets, sinks, ~8~, ~8~~• dryers, awnings, storm windov~, storm doors, saeens~ blinds, ahades, cuttaias, :ug~, attached floor ouv v g, furnituse, antennaz, trees and plants; all of which, induding replaoements ~nd additions thereto, shall~ deemed to be and remain a parE of the resl propeity oovered by this Mortgage; and all of the for~~ together with saidproperty ~or the leasehold estate in the event tt,is Mortg~ge is ~ a leasehold) are referred to as tbe "Property . as Borrower oovenants that Borrower is la seised of t6e estate hereby oanveyed and bas the right io mortgage, gran~ oonvey and assign the Pmperty and, if this I~iortgage is on a Ieaseholdz tbat the ground Iease is in fuIl force and eHect without modiScation ezcept as provided above and witbout default on the pazt of either lessor or lessee thereunder), that the Pro~ty is unencumbered, anc~ that Bon~ower will warrant and defead g~ernlly the tide to the Property against- alt clauns and demands, subJed to any easemenb aad restrictions listed in a schedule of ezoeptions to ooverage in any title inSUranoe policy iasuring Lender'a interest ia the Property. - . . UxiFOxac Cov~rexrs. Bormwer and I.eader aovwant and ag,cee at fol~oar~: P~yma~t ~i 1. Bo~eowee ~hall promptly pay when due We prfa• shall praanptlq furntah to I.ender a!t nottees ot amauats due undec this Prtnclp~i ~ei dpal of and lnterest oa the ladeDtednen ~videaad P~6~Pd. ~ 1n the e~ent Borwwer ahall malce psyment dtrecqy. Intere~t br tt~e Note. and peep~ym~nt aad lat~ cLar~e~ as Borrower shall promptly furnish to I.eader recelpta evidencing suc~ pro~idad in the Nota payments. Boseo~rer aLaU peompUy disc6arsa any Uen which has, or may ha~e. priority o~er or equality wlth t6b 3[ortaage and wfU Fundi t~r ls~es 2 Sub~ect to Laader'a optton nnder para~eap~ 4 keep and maintain 1he Property iree irom the claims of all person~ ~nd inwranee and b nereof. Borrower shail pay to Lender on the ~ypp~y(na )abor or msteriaL to the Property. Without Lender'a prbr day monthly installmenL~ or ~ci~ aoa intet..t written pesmissioa, Borro~ver ~hall not allow any llen faferlor to this < nrw ~~rabL under the NoU. unW the Note 1i Pvd 1a tull. a~um ~[oetsase W be perfected a~inst the Propetty. (heretn "Fhnds") e4ual to one-twelfth ot (a) the ye~rly wst9r and aewer rate~ and ta=e~ and wessmeots whicb may bs IeHed on tbe S~~ ~~~wer s6aU keep the impwvemen4 nowr a:ist- ProPertr. (b) the 7eariJ? 6ruund rent~. it anY. (c) the yearly premium tawnaae • fna or her~atter erected on the Property lasured DyY r instnllmea4 for nre and other bas~ed lnsurance. rent lw~ tnsuranee _ insursace carrien satlsfactory to Lender a~alnst and eucb other tnsurance cmreiina the ProperRy u Leader may requfea los~ by Ace, hwrds lnciuded wit6ln tne term "aitepded covense••~ punuant W panaraph a hereof. (d) the yearly premtum in~tallm~ab rent lop aad ruch other ha=atds. asualttea. UablUtla snd centln- for mort~e lnntrance. 1f any. ~nd (e) ff thL ][ort~e L on s leua- ~de~ u Lender (and. !t tbis Yortaaae is oa a leuebold., the hold. the yearl~ azed renti. i! any. under the sround lew.~ all a~ ~'OU°a k~°) ~d fn such amounb sad for such peY~iods , ss Lender s~ll require. All premtums on Inaurance poUcia aball be ~ reasonably estimated inltiallr and from tlma to tlme ~ I.eader oe tLe ~ bssis ot aaswments aad bi1L and reawnsble e~timates th~raof. The P~a. at Iwader's option. in the manner provided under paraarapb i I Funds ~pap be beld in an instttnNoa the depostb or aewunb of wb1t3~ bereot or in such other mannpr u Leader may dal6nata in wrltina.. ~ are iasured or `uaranteed b~? a Federal or ~tate aaency (Indudln6 ~?11 i°suraaee p°Lete~ and renewals thercof shall be in torm acoept- Lender if Lender ts enrh an institntion). Lender ~Lall applr tbe Fhnd~ i~ tO ~a~r and s6ai~ inctud° ~~ndard mort~e clanse in favor h ~ ot ae~d in form acoeptaDle to I.ender. Leader shail tuve the ri~ht to pay uid rates. rents. tkes. assessmeats and insurance premiums. to 6old the polides and renewals thereot, and Borrowrer ~t~ll promptlY I.ender shall make ao charge for w holding and applylas the P1~ndi or t~~b ~~~er aU reaewal notlces and aU reoeipb of pald premiums. for veritying and compUing said aasewmenU and bUls. Borrower aud At leut 16 days prlor to the espin?tion date o[ the policie~, Borrowee Lender may agree in wrltiag at tbe tlme ot ezecution oi tLls ~1 dellver to I.ender renewal policiea in torm ptistsctory+ W Lender. ~tartgaae t6at interest on the F1~nd~ ahail ba pald to Borrower. u~ Y~g~ ~ on a tea~ehold. Borrowrer aball furnish Leader a and unlw sucL agreement L made. I.eader sball not ba requtred to duoUa~te ot a' such pollcles, renev~wl aoUces, rene~al pollcies and- pap Borrower any lntenst on the Funds. Lender sball 6ive to Bor- receipb ot paid premium~ ff, by virtue of tha sround lease. tse s rower, wrlthout charge, aa aanual acoounting ot the Funds sLowina credita and deDib W the F'undi and t6e purpose tor w1?Icl~ each deWt o~BinaU thereot m~y not be suppUed Dy Borrower to L.ender. . to the I~nd~ was made. The Fuads are pl~ed as addltlonal secudty In tbe event of lou, Borrower sball giva immediate wrltten notlos [or the auins see~red by 1hL Yortaase. to the in~urance carrler and Lender. Bosro~ver bereby authorius and If We amount of the Funds hdd bq Lender at We tlme oi tbe empowers Lender, at Lendefs optlon and in Leader's sole dLcretlon annuat accounUng thereof aDali n=ceed We amount deemed aecess~ry as attnrner-fn-iset for Boreower, to auke proot ot loss. to adjust and by Lender W proMde for the paym~t ot ~rster tad sewer ratea. ~mpromise aay clalm ynd~r insurance pplides, to appear !n and prose- taxea, asaeasments, insura~ce premfums and renb, as they tall due. ~u~ ~r ~~on arising imm such insnranee polldea, to coUect aad ~ such ezcess s~all be credited to Borrower on the aezt mont6ly ia- ~a~~e f~wrance procceds, aad to deduet tberefrom I.ender's e~cpanses t stallmeat or installmenb oL Funda due. It at any time the amonat ~ of the Funda held by I.eader shall be lers than tbe amount deemai ~~urred ~a the oallecdon ot such proceeda. Borrower fuether author- neceasary' bq I.ender to pay water and sewer ratea, laxd, assess- ius kndu. ~t I.ende*'~ aPtioo, (a) to hold the balaaee oi such pro- ments, insuraace premiums and rents a~ they faU due, Borrower ceedi to be used to reimburae Borrower tor the oos4 of reoonstructlon ~ shali psy to Lender any amount necessary to malce up tLe deIIclencp or repair ot the Property or (b) to apply the btiance ot such proceeda ~•!thin tLlrty day~ atter notice trom I.ender to Borrower reqnesUna to tbe paymeat of tbe sum~ ~ecured by tbls Yortgagq wbether or payment thereot. ` not tAen duG 1n the order of appiication set forth In psragraph ! hereof Upon psyment iu full of all sums secured by thfa Yortaaae, ~~yb~ect, howaver, to tlte rlgDb ot t~a lasor under the around leue ~ I,ender ah~ll prompUy retund to Borrower any F~nd~ held by Lender. . u t~is Yortaage is on a leaaehold). It t6e lzwrance proceed~ are E ~ It under paragswpb 26 bereof the Peoperty 1s wM or the Pcoperty is othen?ise scqufred by I.ender, Lender aball apply, no later than b~ by I.ender to be used W reimDuree Borro~ver tor the co~b of resto- ~ !mmediately prbr to the ple of the Property or lU aoquialtlon by ration aad repalr o[ the Propesty, tbe Property shall be nsWred W Lender, anr PLnds held by Lender at the tlme o[ appUcaUon as a tbe eqnivalent ot ita original condition. or sucb other conditton as credit agdnst the sum~ secured by thb Yort;aae. Lender may appro~e in ~vrfting, and Lender msy, at Lender'~ optioa. ApplleaWa ~t 3. Untus applicable Lw pro~Hda otberwtse. all p~7- O°~~0° dlsDur~emeat of ~ald proceed~ on Leader's approval ot such paYme¦fs mwb recelvcd by I.ender under the Note and p~r~- P~ ~d speciscattow ot aa aechitect uWfsetory to Leades. con- graph~ 1 aad ~ hereof ~hall be appLed py Lender tractor's eost «stlmat~. arcbltect'~ ceetiAcates, ~valven ot Ueiu. sworn Tirst in p~yment ot amounb payaDle W I.ender by Borrower under statemenb ot m~cLaala md materW mea aad snch other s~idwce ParagraPh Y hereot, thea to interest payaDie on the Note. neat to tba of cost~. Pcrcentaa~ complatlon ot constructlon. apaication ot pay- p~3ndpal of the Note, and last to say other sums secured ~q this meats, and ~atlsisction ot Ueni u Iwnder maj reaaonably requice. It Mortgage. the insurance prnceed~ ue appUed to the payment of the sumn iecured CA~rses; IJe~s Borrower shall pay all water and ~ewes rates, by thU Yottaage. anr sueh ~ppllcatlon of proceeds W prlncip~l shall ta:e.s, as~easmenu aad other charses nnea, lmpo- not actead or po~tpone the dn~ dats oi tbe monthly. inaullmenb rr eitlona and renta. it anr, attributable W the Property at Lendes'a f~~ tO ~ P~ihP~ i aaA t hereot or eLanse the amount of ~uca opcfon in c~e manaer pm~lded undar paraaraph 4 hereoi or in 1n~~°°~• ra u~ee paraanpa 26 bsreot the Pcoperty U wld or tLe Peopeet~ ruch other manaer u Lender may dqfsnate !a wr1Un~. Borrower ~ - o p 23~ s2o i E~~~R f~ac~ ~ - - ~ _ _ ~ " ~ .