HomeMy WebLinkAbout2099 s
UwribaM ~t+at+7s. Bort~ower sad Larder oovettant and epee as foibws:
1<rq~enR ~ Rsiae~al stag iarestyf. Bortvwet shag promptly pey whee doe tie prsapel of strl nMeseM A tie
atdebtedttas evidertoed by the Note. ptepayntiait std We charges as prurridod M the Narle, and tie pe:c*d d aistl ireiest
as any Future Advances secured by this Mortgage.
lrtni flair Taoaas aril 6t~cw Subject b applicable law or b a wrielar waiver b'! Le~nler. fiott~e',r tiaB fiey
b Leader oa the day monthly iastallmertts of principal sad intet~ect are payable ttwda the Nwe, nd the Nose is paid : ttti
a twat (haeia "Fttuds'~ equal b otto-ivrditlt of fire yearl} anc+ and ~aeaa w~hici trap again Priort7 o•ar ihs
Mattpge. sad gtotted teats oo the Property. if say. plus owat.MdfU d yearly pteainaa :tni¦tea far httsatti :sera~oe.
plot oao-twd[th d yearly premium installments tar mortgage urstrrance. if any. all as tensowabh? eseiteatel ioitra~l? std faatm
time to time by Ltwder art the basis d assessments and hills sod reasonable etaisata dreteof.
7Le Funds :ball be htdd is an institulioa the deposin a acoottat: d which ate iesiated a paraateed biy a Foieral eit
stale agatcy (iachrding Laden if bender is such an irtstittttionl. Leads shall apply ehe F~tads b pep said lanes. aasasorenss.
iastrraooe prartiwrts and pound rents. 1_errder may na diarae for so boidigg and aipplyieg dr Faadi aaalyaittE ail aoooont
or verifying.aud oompiliag said assessment: and bilk. unless Leader pays Borrower ietaest oa the Fonds ad appCcabie law
ptxmib Leader to make such a charge. Borrower and Lender may epee : writiaig at tie bate d esewrdo+ d ti's
Mortgage that interest on the Funds shag be prsid b Borrower. sod uvulas tatith apeerneat is lade a applicable law
requires such iataest to be prod. Lends shall rat be raltrired to py Borroana a¦y intttett a earniods a the Foals. Leader
tiball give b Borrower, without charge. an annwl aeooueting d the Funds sboar:g credits aed debits b the Fttads awl tie
purpose [a which estdr deba to the Funds wu rrrade. 7be Funds are pledged as additional setatrrity for the tares:: secvrred
by this Mortgage.
TE the attatotmt o[ the Funds htdd by Lender, together with the future soatNy iastdsaats of Fired: Payable Pia b
the due data of toes, atse~ssmeaa, irstttcanoe ptemiwrts and pound Taus, shall a:oet+d the araorat tegoired b pray ssd fazes.
saarmeats. insurance premiums sad ground rafts a: they fall due, such ettoess shag be, at Boaowta's oRiow. eider
promptly repaid to Borrower a credited to Bonower oa monthly irtatalloraus of Fusds_ >U the atiotett d fir iFaods
hdd bf Leader shall not be sul6cimt to pay rues, aacssmaus. imtrranoe pramittsrs and pound neat: as they fat sue.
Borrower shall py to Leader say amount necessary to make up the defiaaicy with: 30 days from the dose noting s tnalel
by Isoder b Borrower requatiag payment thereof.
>UPon pzy~ ie fun d au sums secured bas this Mortita>te, Leader :ball Ptoetvthr rettrnd b Borro.rei any F~iieds
held by Leader. if under paragraph 18 hereof the Property a sold a the Pra~paty s atherwic aogrtked b7 1.!eader. Leader .
:ball apply, no later than immediatdy prior to the sak d the Property a its aogris~oa by Leader, aiq Ftsds held bar
Lander at the time of application as a credit sgainst the sums secured by this Matgage_
3. Appilcatinn eE Ptgaseels. Unless applicable !aw provides otlrawite. ad payoeats reoei+red b!? Leader order the
Note sad pangrapits 1 sad 2 hexed shall be applied by Leader first in pa}~roau of amotrats payable to Laden b7 Borroer
under paragraph 2 hereof. rhea to interest payable on the Notc. then to the principal d the Note, std rhea to iataest and
principal on say Future Advaooa.
4. Chtr=es; Liens. Borrower shall pay aB taxes. assessments and other charges. 5ne:s and iarpo9tioes utribrrtaliie to
the Property which may attain a priority over this Mortgage. and kasdioW payments or ground reefs, if airy. ie the aa¦eer
provided under puagraph 2 hereof or. if riot paid in such manner. by Borrower making pa}~czat, whta doe, directly b the
payee thereof. Borrower shall promptly furnish to Lender all notices d arootmts due under this praragrapb., std :tie sveet
Borrower shall nuke payment directly, Borrower shag promptly furnish to Calder reodpts evideacsg rocs peyerets. _
Borrower shall promptly discharge. any lien which has priority over this Alortgrige: provided. that 8onower sira8 cot 6s
required to discharge any such lien so long u Borrower shall agree in writing to the payment d the obbgatioe secveea b'!
such lirn in a manner aoceptabk to Lender, a shall in good faith contest such lice by. a defad adorioeaeat d such 6s i~
legal proceedings which operate to prevent the enforcarrent of the Iran a fode+ture d the Property a aey part theted_
S. Hmrr lasetaece. Borrower shall toep the improvements now existing or hae:fter etecsod m the Pt+o~paty iesurd
against loss by 5rc, hazards included within the term "extended coverage`, and such other harards as [ender my regtaire
sad in such amounts and for such periods u Lendu may require; provided. that Lendex shall sat require slut the amormt d
such coverage exceed that amount d coverage required to pay the sums secured by this Mortgage_
The insurance carrier providing the iruuranee shall be chosen try Borrower subject to ap~poval by Lexrder. p+ai.ded.
that such approval shall not be unreasonably withheld. AH premiums oa iawraaoe policies shtii be paid is the !•aeeer
~ provided under paragraph 2 hexed or, if not paid in such manner, by Barowv rttiakisrg payment. when doe, directly to tie
~ insurance carrier.
All insurance policies and rexrewak thereof shall be in form xo=ptabk to under and stub irrclede a staadsrd sortpge
clause in favor of and in form acceptable to Lender. Lender shall have the rig>x to hold the policies sad reeewais thereof,
~ and Borrower shall promptly furnish to Lender all renewal notices and all receipts d paid premiums. la the ta,cet d ions
~ Borrower shall give prompt mice to the insurance carrier and Lerrder_ Lender tray mate proof d ins if not made priomptt}•
by Borrower. _
Unless Lender and Borrower otherwise agree m writing, inswance procoads shall be applied to naaratioe or repair d
the Property damaged, provided such restoration or repair is ecorwmicafly feasible and the :cavity d this fi/ortgage is
not thereby impaired. If such restoration or repair is not economically feasible or if the secrrristy d this 1?lortgage winuid
be impaired, the insurariee proceeds shall be applied to the sums secured by this Mortg:ge. w•rth the eireess. ~ ear, pad
to Borrower_ If the Property K abardoried b) Borrowu. or if Borrosva• faik to respond to lender within 30 days from tie
date notice is marled by Lender to Borrower chat the iowrance career offexs to satk a claim for iresoraooe beaeits, Leader
is authorized to collect and apply the irtwrance pronged: at Lender's option ether to restoratioe a repe~ d the Propcttc
or to the sums secured by this Mortgage.
Unless Lender and Borrower otherv?ise agree m wasting, any such application of proceeds b prinapal :ball not esteatd
or postpone the due dzte of the monthly inuailments referred to in paragraphs 1 and 2 hereof or change the araoua~t d
such irisullments. If under paragraph 18 hereof the Propem- is acgwred by Leader, all right, title sad mtaest d Borrower
in and to any insurance pdicies and in acrd to the proceeds tbueot rewlung from damage to the Property prsot b the sale
or acquisition shall pass to Lender to the extent of the sums soured b} this Mortgage immediately prior to such sale a
acquisition.
f. Prraenatioa aed Maieteoaece of Property: Leasebl~ Coeiomiewrms; Plaeee> L:ait Derdapmeets. Borra.rr
a shall kexp the Property in good repair and shall not commit yraste or permit intpairmcat a dderioratioa d the Property
r and shall comply with the proviswns d any lease if the Mortgage n on a kzsehold_ if this Mortgage is on a uab m a
~ condominium or a planned unit development, Borrower shall perform all of Borrowrr's oblrg:troas rude the doclarat>,oa
or covenants creating or governing the condommwm or planned unit deveiopznent, the by-laws and rgeulations d the
condominium or planned unit development. arrd constituent documents. If a corrdoaiiriium or plarurd unit desr3opmenl
s rider is executed by Borrower and recorded together with this Mortgage, the covenants and zgreemcats of such rider
shall be incorporated into and shall ame:id and supplement the covenants and agreaarnts of this Mortgage as if the ralicr
were a part hexed.
7. Protectioe d Leaders Security. 1f B.~rrc•wer fails to perform the covenants and agroarrrrts carruinod m this
Mor;gage, or if any xhon ur proceeding is :.xnrricnceJ which materialh~ affects Lender's interest m the Prc~pert).
including, but nit fimited to. eminent domain. ins.~hency. code enforcement. or arrangements or proerodir~es ,nwi.,r¢ a
bankrupt or decedent. then lender a1 Lender's option, upon ricuiee to Borrower, mad make strfi appearaaoes,. dYSbtes~e such
sums and rate such xtion as is neceswy to protect Lenders interest. including. but not limited to_ drsbursesaent d
reasonable attorney's tees and curry upon the Propeasg to make repairs. !f Lender required mortgage insurance as a
condition of mating the loan secured by this Mortgage. B~rtower shell pay the premiums rrquitod to maiituin su:h
insurance in eBect until such time u the rcyuuemem for :fish inwrartce ruminates in ac:ordance with Borr.~+.~ s said
~ ~ ~