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1'a~ t:},•qt of Yrir.cip.~l and lutrrr.i. I'~~: r: .c.r ah:~l) j:;~~~.~,~Ht ~~a)' ~~hcn tltit tfr_ p: in, ip:~l of :~n.i in;rr:•it on ll~r }
. ~ ~~[1CC:~ fl)' 1~~t.:, ~tTC~ :l}~11:,1i :1~.•~ ~ `tC C~i:~[~i', ~~ti~r':t ~Cl~ 1~! t}l: ~~~I~. :.rl:l I~1C ~~!i:lilj)llt i~f d:t~~ 111:~(C~I
i~.i rr.:I~:: _ ~~.lv:::l:•:t ,:~U~.•.1 ~i)' !1?i~ ;1t.~li; , .
3'~~+~r'.. fur'l'ax^.s :::~1 l~r;uran.:. tia;r,':~t :+l.p1i~.,'~fe 1:,.• ur tc~ ~.ritt.n i~•cr h~~ 1 ~n~tcr, Itor:r,~~er .hali p~y
l~` 1lIC ?~:1\ 1:`J:1:~'t\' II1~lJi:11:C~1i~ ~%f 1~il~ltil~.li nill~ lllli`:~'•l :t;t1 ~~~:~«t?~l' UL~~~f 1i1C ~P1C. UGU~ l~lt; ~OII' IC ~»I~:f in full.
. in i'..:u'~'i zq::st t,~ ~~ar. :1!t:~ ~~f 1:;~ }_.+t~~ t.~~... :s;..i a.,r, rnrut, ~~h::h rn:~c stt.~in pric~tity' oti_r Ihic
.":t~ ~;'i~U(1, fW1lS ~~i~ l~i~ ~~CJj+:[!j, Ii :t:i\'. ~~tl~ i~:~.'-lL~':~il~l uf )a'di~}' }~f~illttl[li 111Sf;tilmrnts for h:t'L:tCI~ ins~ira~cC,
F•!:~, ...•_-t. ..;:h of }•c:;rl} ; r~miu;:~ ir,,t,lirnr-t, [~r m~+rt~~a,e ~n~:~rai:,•:. ~f :~n)•. .+11 a. ~ra~~~r.ahly e~timate~) initially :~na frum
r..:.:~ t:~ hy l.•.n ~rr , n th: h:ni: of .e~.~„rn;n!s ;cn~! bil1~ :ui.t r~e,vu:~b,~ cstiinat~s ihLtci~f.
~13~'_ i-;,n~it ~htii 1:ztd in an ~m;ittst+.~:~ th•: d~~•~.iR or ::c:.~unt~ ~~f .~•hich :~r~ itisu;~a or ~w~r:tntct.t hy :t l~e.l~ral or
:!.:t. (in~i:l~lin~ !_en:ler if I.rn.!:r ii •:;.•h .t~i inctitutiun). I ~n~le- ~h~ll ap(dy thc FilRCIs t.~ pay >:?id ta~~~, :~sses~nients.
i:::~:;- _,'r~n:ium.:uid ~roii~~d rrn;ti. Lc~ui~r n~.~y n~~t ch;u,,r (~~r so h.dJin~ :utd :~~+piyin~ the Funds, anal)~~in~ sai~a accaunt.
o: r;.`~. :~r.d c~mpilir.~ sr<id ::,ae;:aZrr.s .u~J bili~, unle+s l.en
~rr pa}, R:,rroti~er inter..t en the Fun~s c:nd applicable law
1.•r.ter t.~ nia.l-c cu~h a ch.:r,•~. Brrr,~~c:r and Lrndrr ~u:~y ;ic;;~r in wri:ing :~t tlic; time of execution o[ this
~1:;:,.:;~~ c~::t intirest on th: Fun!!s ~h:ell hc pii.l to l::~rr:~~.:r, ar.d un[r» such a~rremrnt is n~zda or appli;able law
rrya:rr, ~~:_h it~terest W h2 ~~1:d, l.cr.uer sF~a!! not be rr.iuir~~l to ~~y l~.~rro~~~~r :~ny interest or earnings un the Fund~. ~rn.le~
~ii~!: ~i : ~ tu Norrower, t~ ithout ch~r~z, an ~n:r.i~l accounting of tt~~ 1'eei,ls shuwing creclit~ a~d ckbits to the Funds and the ~
pu:,. .~hich c:ich drbit t~ tht 1=unclti ~Las t:i~.t~. "fne Funeb ;:rr ~'cel,,~.l as ad.litional security [or the sums seCUred
b} t~.•~ ~S. ;t~age.
li t`ae air.ount of tl~t Funds h~i3 by Lcn..'~r, tec,eth~r Hith th~ futur~ rnonthly imt3Uments of Funds payabtt prior to
liiC ~'..~t~~~ of t:sxes, .e,~ts~n:enti, insur•~nc~ prcmiu:ns ;inJ grou:~:l c~ nts, st::~ll exc~cd the :,mount rcyuired to p:iy said taxes.
as,z,;:r.~n,;. in,urance ~rer~iit~ms and gr~~u,id r: nt; a, the}' fall du" such e~ce,s shall b~, at Rorro~ver s o~tion, eiiher
p-o::~~':~ replid to Borro~•er or credited w U.•rrowrr on m~nthly i~.t.~;,mznt~ of Fun:l;. If the amouM oi the Funds
hr'd b. 1.~~•der ~fiall not ba sutlicient io pay taui, asitss~~ients, insur:tr:ce premium, :~nd ground renis :~s they [all due,
Bor:;~:+tr sha!t pay to Len~er any amount necessar}~ to m:,ke up the deficien~}• µithin 30 dlys from tht~date notice is mailed
b}• I_c~d:r to liorrower reyuesiing payment thercof.
L:~.~n payment in full of all sums secuted by this I~tortg:?gr. I.cndr~ shall promptly rcfund to t3orrower any Funds
F.~i~± b}- ! cn.!rr. If ureder paragraph IS hereuf the Proprrty i~ sald ~r thz Prorrn~~ is othenv;:e acquired by 1_cnder, Lender
ti'~a:e a: p!}•, no Ister than immediatrly p:ior to the sal~ of th~ E'roprrty ur its acquisition by Lender, any Funds I~eld by
!.e ~:.=r. c:' th= time of . pplication as :t credit a~,sinst the sumc sec!~red b~• this ~tortgagc.
3. ~lpplic~tion of Pavmrnfs. Unless applicable I1R' ~)fOVi~les o.henwi~e, all pa~°ments recei~ed by Lender under the
\.r,,: ;a ~,~ragraphs 1 and 2 here:of sh~ll b~ appl~ed hy l.cnder first in pa)•ment i~f amounts payable to 1_enJer by Bormwer
isnde- ~ s,-agraph 2 hereof, then to interest pcryahle on the Note, th~n to t!~e principal of the Nute, and then to interest and
p-ie=: ~a! u:: any Future Advances. '
•3. Ct~arges; Lirns. Lorrower shall pay al! ta~e,, us~e~~m~n:~ ::r.d o!htr charges. fines anJ impositions attributable to
tn~ P~.~~ ~rty- wi:ich may aitain a p.iurity over thi; ~lortgage, and l~atichc~i:i payments er ground rents, if any, in the manner
Fro~:~~-_:! ~~,.d:: pa:a~raph 2 hereof or, if not paid in such manner, bv Borrowrr ma.l-ing pa~ment,r~•hen due, direct'.y to the
~ ar_e t~.~.e~~f. 13orrower shalt promptly furni,n to Lcnder all natic~~ of amounts duz under this p~graph, and in the event
~t,:.r:, •.~~r shc~11 r:iake paymant dir~~tl~~, Borroti.er shall prompti~~ fumi~h to l.ender rereipts evidencino such payments.
Bo,--c~•.::: shill F:omptly discharge any lien ~.lii~h t~.~c p:i~rity o.e; ttiis ~'lortgage; proviued, that Borrower shall not b~
req;:~-e~ discharge any such li°~ so long as licrruwer s~iall a~~e:: in ~;riting to the pa}'ment of the obligation secured by
sccn'.:~n ir. a manner acceptable to Lender, or st»ll in ~:x~d faith contest such lien hy, or defend en.`orcement of such lien in,
Ie,ai proceedings which eperate to Frzvent ti?e enforcement of the lien or forfeiture of tha Property or any part thereof.
5. tIazard lnsurance. Borrower shatl kcep the improvements now existing or hereafter e~ected on the Property insured
~gai-s: los~ b} fire, hatards includeci «~ithin the trrm "cxtende.l cuvtra~e", and such other hazards as Lender may require
~r:' sL_h amounts :,n~ for such pericxls as l er~der may require; ~+rovi:ied, that Lender stiall not require that the amount of
s:~.~ co•.e; age exceed !hat amount ~~f co.~erage required to pay th~ sum~ secured by this '~Sortgage.
Tt~~ ir.surance carrie: providii~ the insurance shall be cho~rn by Borrow~er subject to approval by I_endar, provide~i,
t~a- s. a~~roval s:~ali not be u~rea~on~hly «•i:nhe?d. All prcmi:rm; on insuran.e polic;es shall be paid in the manner
pro~:•~~d ur.dtr paragraph 2 hereof or, if not paid in such manner, by Eorro~cer making payment, when due, direcdy to the
i::~u-_:,c~ carcier.
' A~! :~surancz poticies anJ renewals thereof shal( bc in form ac,eptable to Lender and shall indude a standard mortgage
• eta.s_e :a ia.or ef and in form acceptable to l.ender. L~nder sh:,~l l~a~e the right to hold tne policies and renzwa3s thereof,
k .:nc' itvr;.~••~~er shail promptly iurnish to I_ender ~li renewal nutices and all receipis of paid premiums. In the e~ent of loss,
j I2^rr~~.: er .hall gi~•e prompt iiotice to the insi:r~nce carri~r and I.endrr_ l ender may make proof of loss if not made promptly _
` h~ ~i_~ifO~VCC,
~ C.nte;s i.ender and Borrowzr othenvis~ agreC in writing, insurance proceeds shall be a~plied to restoration or repair of
c~,e Y;:.~~e;t}' damaged, pr~~•ic:ed wch re.toration or repair is economically feasible and the security of this rtortbage is
r,ot t~aereby impaired. lE s~~h n~toration or repair is not econamieall}' (ci~ible or if the security of this Mortgage would
; i~tpai:ed, the ins~:rance proceeds shall be applied to the sums s~cured by this I~iortga~e. ~vith the excess, if any. paid
~ B.~:ri~•~•er. If the Property is :,bandoned hy Borrewrr, or if Borrower fails to respond to Lcnder within 30 days from ihe
c: t~ r.:~ti,c i~ mailed by Lender to Bormwer tfi?t the inwrance carrier offrrs to settle a ctaim for insurance benefits, L.ender
~ i: : u'~orizes to collect and s~p1r the imuran.:e p:oce~ds at 1_~nder': opt;on either tu restoration or repair of th~ Property
~ c•: t, :t?e sum~ s~c~reJ hy this \tortgaga. . .
~ l'~,~,s Lend?r and Borrnwer vtharw•~:e a~,ree in writing, any su.h application of ~rocetds to principal shal{ not extend
~ "o; stp~~ne tne due da!e of the ~non}hiy instaH~-nents referred to in pars~raphs 1 and 2 here~f or cha~ige the aniount ~of
~ i~-.'::~~rnznt.. If under paragraph !5 herevf thr. Proptrty is acyuired hy Lende~, al( right, tide and interest of I3ormwer
..r:•: :en~ insura~c~ Ex~iicies and in an~3 to th~• proceeds thereof r~.ulting from darna~e to the P.operty prior to the sa~e
' u; ~ha~! pass to I ender tn the extent of 2},e wm, ~c,:;ire~t by this ~~O[11~;3~2 in~mediately prior to suc`: s:~le or
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~ ~-Y_ - .i,n.
~ G. FriSrna!i~>n and 1]ainten:~nce o~ Pruprrt}; I.eatich~~td~; Cunr)r?miniums; Planned L`nit Develupments. Borrower
s,:.: ?;.:c~~ t::~ Pre~pzrty in b~.<<i r~~~-~ic r~nd shai~ e~ot commit ~i:~;te ~~r permit impa+~n~en: or deteriorat:on of the Property .
::ne ~•_,r.~pl•; ~+iih th~ P;ovi,+ons of any I~.t:e if thu Atort~:i,e i; on a Ic:~schol~l. lf thi; Mortga,e i~ on a unit in a
~ c~_~-:.' .~t:i o; a planned t:nit .iccclop~n: n?, Rorro~crr shall m a!I of Rorr.~ ~~er's obligations under the d~claration
c~r :._•:,':::nt~ crcating ur gvverni?i,~ the conc?nminium or plan~,:d uait d<<~e;op~sitnt, the by-laws anJ r~gulatiori, of ihr
- Uf ~+~:ll`.:lc;t~ i[ i;i (~'.'~t'iUf til:ll:. :7f:(3 :~,,:!~,,;IiU:;tl ljr+,.•SCI;i~~~. ~f :l i~`t!~1(~.~ll^1L1f11 OC ~~:1(1Rt'(~ 1![l!( (~3CCI~(~(T1C(lt -
_ ri'~. :~•:e.~re~i by 13orro•.ser ar.d recorded tu~~tnrr v:ith thi; bti~rtoa~e, the covenanh ai:d agreement~ ~f such rider {
~ s1::!I i:;.:~r~~~:ate:l into and sh;t{l amend an~l s~~p,~lcmerit the co•.enants and :iFrcements of this rtortgag~ as if the rider
v.: i ~.ri ti~r:of.
~ 7. l7utectiun of I.c~~~ter~ Security. It L'nrr~~•.~er f:~ilt t~~ ~~rf.~rm tn~ co~•enant, :~r.,, agrrements rnnt~ined in this
v '.'.1~" i~ 1;1}r :t~ti0~1 Uf ~ti~)C~t•+~i[lr li C~~i?Il11tRCv~~ ~~f~~~~l rr;,,~rially :~ii~~I1 ~,:•~+C?tf~~ 1(IICiCi[ I? tFt2 Pn,prrt~',
~ -'f*!,~_..` h~~' r.~! )imieed to. eminent domain, in;~ken~)', code en(~~r~cme~t, or arraat,cr.~ezts or ~~roceedings invol~•ing a ~
~ h.:r.'.•::.:,. <~r c'•~.?drnt, tF.rr. I.e~uler at 1 ender'~ o, tic~n, upi>n nn!icr t~i Br~rre~~ti~rr, m.+)~ m;~f:~ ~ucli ap~ar:~rtce~. di,burse s:~ch
: ; t~k ~ si~ch actic~~~ a: i; ner~s;:u~• to ~•:~?~ct l.end~r's i;~tere;t. incl~t~i;~t~. hiit ~z~t I~n~ited to, di~bursemrnt of
- t'_ ..._~.•;r.e)~'c frc: ::R(~ Cti!f)" I~~.VII I.^.t: f~f0(1Cfl~' Icl I11:feC iCjidlf`. I~ LCR.~:! ::atIICC(1 R1Jif_;t,Z !fl-+llfance .3
~ c,.;, ~ 1 i•:` r:::t~.ir.g lh~ 1,~.:n se.ur~.! b; th~. ".iu:t~.~,,~. R„rr•: ~.+_r ~i~.~ll pep t'~~ prec:ium~ ~equirc~ to maintain such
. ~ i"1 C~il': i iS~~.:~ .'I~}1 i~iI1C :?1 (~::C s.:.;,~ir~r.:jlli f(If~ SU:~I .Ui:1; 7:1C1 ~Cif:'Tlll.lt~'~ t!! ..:~Oia11?C~~ '.~'I:h I3urrower'c 1O1~
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