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HomeMy WebLinkAbout0420f3orrower nnd l.ender covenant and agree as [ollow~s: l. Yayment of F'irincipal and Interest. E3orrouer sh:ill prumptly pay~ when due the pnnc~pat uf and ir.trrr~t .,n :taE it1lrC~t~.;r.~ evidenced by the Note, prepayment und latechnrges:ts ptu~•idecl in the tiute, and the principal of and ~ntrrest ~:n ~ny F ucurt ad~ ar.cr..n ur~l by this Mortgage '2. Funda Cor Taxes and Insurttnce, tiubjeM G~ appli~ :ihir I:-w ur to .~ wnu.•n w,ii~rr hy Ixrdrr. Fi.~rr•.•~.-r -h.~;, p..~. s. ~ 1.. n:~r ~ z t:^.~ is: monthly installments of pr.ncipul .~nd interrst are p.+>:-hlr uudrr thr \utr, unt~l the \~~cr ~+ p.ud ~n futl. .t .;:m hrrrcn ~"f~ur.v+ ~~ c.;_~; t.,.>nF twelfth of the yrtirly t.Lrrs and:-,sc~~mrnts which muy :~tt:un pri~~rit~~ u~rr thi~ \1~~rt~.~K.-. .ir.d Kr~~und rrnt .•n ti:r E'r..Ft-n~ ~t ~ci> y:u: ~~aF twelRh of yenrly prrmium installments for h:-z:-nl imurani~r, plu. ~~n~~ tH rifth uf } r;~rl~ prrnuum ~mt.u:m.-n t.: f~ ~r :n~ ~tt~.e~tr : a- ~r..~~ E. i2 ;u~} _ 1~~ ns reusunxbh• estim.it~r1 ~nitiallv and from time tu ttn~r b~• la~ndrr on thr b:~.i: ~~i :~~.r:.rnrnt.~ an~~ ~!1~~ ~tll~~ lr.t~. ~!i,~bir rL:^tatc~ !.rLa~-~: The Funds shall tx held in .-n institution the dr{H,sits or accuunt. ~~C wh~rh are ln:ured „r Ku.~r.srt~+ by a Fa.;~ra: •,r ~:ate s~~a.~ linciuding Lender if I.ender is such an institutionl. t.endrr sh:~il :~pply thr N~und. t~~ p.~> _:.tc~l [:ixeti, a.sc-_.n:r:t[5. ;R~u[.~!1ir pCcc::tia.~• s:.d ~round rents. t.ender muy not charge for so hold~ng and :~pply'inK thr Funds. .-nxlccinK ..~id .-ciuunt. ~~r ~rnf~i :,~ sr,ri ~~ .~np;:.r.~ ~:d assessmentsandbills,unlecsl.enderpaysl3orrowerinterr~tuntheFund:,~rtd:-pp~ti~.+blrI.~Npr~rnits[Yndert.,n:.~ltrsu~h.~~.^.s!kc tic~•,x~r and Ixnder maty agree in writing at the time olexecuti~n ~~f this ~tunK:tKr th:~t intrrrst ~~n thr I-~und~ .h.+ll be pa:d c~, fi.~rr~~wtr. ar.~3 ::n;c-~s such agreement is mlde or applirable law reyuires ~uch intrre~t t., be p:~id. I.rndrr ~hall n~,t br rryuirc-~i i., ~s~ Fi.~n.•,:-er an} e^.;.-!c-~t :~s rarnings on the Funds. I.ender shnll Qive to Bc~rrow•er, w•ith„ut ~•rtarKe. an :innu:~l ari~~~~nt~nK ~~f the Fund: ,h<,Ni.:}; ~ fr~:iL ..tid2:2rf:E~~ ;-~ :~:e Funds and the purpose for which each debit G, the Funds w•:is mad~~. The• Fund_; arr pledKrd :is ~dditi~:nai ~ unt} l~~r tt*.r .:::: •~e•_~.:ra.~ ~~ c::s MuriKttge. If the nmuunt uf the Funds hrld by~ l,~nder, t~~Ke•tht•r w~ith the fuwr~• m~~nthly~ inst:~Il[I:rRi.+~~: F unds ~;.tt _~bi.- pr•.: *_: ;a- •i.~~,i~:~..::,~e-_. assessments, insurinre premiums and Kr;~und n•nt~. +ha11 e~~~.~d thr :tm~~unt rc~yuirc~i t~: pac :.ttd t:~xr>. .:..r~:r.:,-r.*_~ ..._ :r_s^=:~ Y!r:^i;:ez:s and ground rents as they faii due, such excrss shall be, :~t Fi~~~r~~N~rr'. upt~~~n, rtlhet pt~,mptlc repuuf G~ E'..:rn~~arr •~r.r.fi::.-.i :,• fi,r-..weror monthlt• installments of Funds. !f the am~~unt of thc• Funds held hc Ixnder sn:~il n~~t trr :ufiirirnt t~~ p:ic ~is-s i,._~-.-_:«r::-. sr~-:.-.:.^.ct premiums and ground rents as they f.i11 due, I{UfrUN'Pr sha~l p.-t• [u l,~nd~~r :-n} :~m~,ur,t n~. r~;_~n !:~ ma;c.- u~: rn.-.trr~. ,.~. ~ ~~~~;f, ._ .:s.-~ from the date notice is mailed b~~ Ixnder tu {i~~rro~v:•r n•yu.•~tin~; p:~ym+•nt th~•r~.~f Upon puy~nent in full of ~~II sums scrurrcf by this \1~~RKaKr. (.rndrr:hnli prumpti} rrfund t« t~~rr~~Nrr an~ ~:.r.•i~ :.-:r: ;~~ Irc~irr I.' _:a~r parigraph 1R hereof the Yroperty issuld ur thc• Prupc•rt>• ~s ~~the:~~ise• :icywr~~i bc Irr.drr. 1,~•rni«-r ,h.~,. sp~!•:. n~: i.,trr .r..~z::m: :t,i:s:e~ti ;;c: __ to the sale cf the I'roperty ur its acquisitiun hy I.~•ndt•r.:-n~• Fund, hrld h~~ Ikn~i~•r;~t thr t~m.• ~~f:~pp~ir;~ti~.r, a~ a: n-i:¢ .~~;_,:n.t t::-.-s::::~ ~. •~rr~ b~ this Alortgage. ~ 3. AppliCation of Payments. l.'nlrss_applic.ihl~• luw' pructdrs ~~th~•r~i.r :tll F:icntrnt~ re-cric.~t: F~ (~-r..2rr ~-:.:r~ :i,e ~r,tt a~~ paraRraphs i and 'l henrof shall Fx~appli~d b}• l.ender fir+t in p:~}~me•nt ~~f :im~~~nts p:-~•:~bi.- t~~ I,endrr ~•c f:~~rr:.wF* ~:i~:r[ ~nr3g[3pF = Cic*e+~r. then to interest payable on the :~iote, th.•n t~~ thi• pnncipal ~~f th~• \~~tt•. ar.d tht•n tn ir.tFrr.t .+nd pnn~ ;p,:l ~~r. .tn} F:;t:;rr 3ssan.r 4. ('hi~rgex; l.iens. liorruH~i•r sl~all p:i~~ all t:~x~•., :~.:r..m~-nt.:~rn+. ~~tti. r, F,~.sr::~•• 2ir7~~> .~n~! :r.<<.,~:cc,:::- .s*t*:r~'.~:,.,. •:. :--•- Y•,.p~-r<< ~ 4•. ~: m:-~• atl:~in a prinritt• u~•erthi. \lurtk:i~;r.:~nd I~~:i.~•h~~ld p:+~ ~u.-nt. ~~r;;r~,.:n~: rrr:t~ if.~nc.:r~ t~.-••:.~a:~.-• ~,r..•, :.. ..... .-~,.:- :K•.:~;^ _ ~.tc-•' - if iiot p.ii~3 in.ui•h rnanner. t~}• IiurroH~~•r mak~n~: p:~~ ~nrnt. wh~•n ~iu~• ~+.,•~, ti~ t~~ th.- p.~ti.~• tt~..•:,:i E{,:•r.:.~. •^,;i G.• , •--'._ -- -'._.=•~-• aU nutici•ti of am~~untc du~• und~•r thi: p;~r.~~;r.iph..in~i in tta~ ~~<<•nt !S„r•,~•.,.•r ~h.~ii :r..,k.~ ~,.~ccn~ ::t ,_.. - ~.. f; •_ .. . .. .. ~ . :t t:~. . _•--.. r _ Ixndrrrccriptxr~•ide•ncin~;.u~•h p:nnu•nt~ K~~rn,~~~•r~h.,t! pr~,in~,t:< <ii-~ i:.~:~:~~.~n~ !.~-!: ~.>u. h:..«,:r;.,,.,., . , - -•--'ti! --- .~ ;;:- .... . .r._at RurruH•t~rshalls~~~tiK~n~c~uirr~lt~~d~srti:~r~;~•:in~.u~iei~~•r~•~~t~~n;:.~•k~,•;<.~.~~r-~;.~'t.r:;r.•.:n~.~nt:*:,-, _..,,.:~.:...... ..-.. ..~._. :-'<`--- -- :uch lie~n in a manner a~•crpt.ihl~• tu L~•udrr. ~~r.i~:~ii in ~;•,,~,1'.utt~ ~ ~.~:i;~ <t -~„ %. si~ r. ~~. .,. :.-;. r . ..... ... ... ... . - - -. .- -- - --• . -. .. w•hich uper:rte• tu pre~~ent thr ~•nfurrrm~•nt ~~f th~ Iu~n •~r !~,rt.~~!un „f tE~. f'•. +~• rr•. ,.r .~r: ~,.+rr t~,.,.•,,.: :~. Harard Ip.urHm•e. Kurrv~n~~r..h:~11 k~•rp th~• irnpr.~~ ~•rrn•sit n~~~c ,~~:•t;:i~' :~r h.~..~.i?t.-r t~r., ±. ~: .. _...- t•...i»--~~. -' -- - _..._ .. . _ . firr. hatards includ~rl w-ithin th~~ t~•n:~ "~•xtrnd~•~! ~ ~•e~~r.q:.•.~ .~n~~ ~u~ h ~~t;,, • t~.~e::ns~ :~~ (..~:i~i..r ^:.e: e _ ~ ,_.,:.-_ - --....:. .-- -•-- • - - - - -• pi•riudc a~ Lend~~r mac rryu~n•: pn~~id<~1. that 1..•n~l.•r •h.~1i n~~t n ~;~:~n r}:.,t th~-.~:f:•~~.^.t . ,. h :,.~ . .z -t ' .-'- --- --.- - • -':~` nt~uinrl tu p:~y th~• .um, sc•cuny! h~ thi: \1„rt~;:~~:~• . Tht~ in.ur.~n~•r ~ ;~rn~ r pn~t ~~iin~: th.• in.ur.~nr~ :t~.~il'~.• ~ t.~.:. n ~~~ I:..r~, ..~. ~ . . .. , . . . . .. . . . .. . _ - - _ _ . - . ~. .hall nnt h~~ unn•.~.~~n:~l,1} ~cithln•1~! :\II pn•rn:u~~i~ ~,n :~~~urnt~.,~ {,.,;cr;. _t~.~i: i» ,• ~: . . .. _.._ . . . . . _ . . .-. -- ~ - -. - ' - - -- nut paid in :u~•h m:~nn~•r. ht' It„rn~~err m:~k~nt; E,.evrn~•nt. ~-~ti~ n~+.:u ~fin~~ t~~ r~. •.., ... .. ... . ... All insur.~m-~ {N,li~•ir. and r~ nr~~.~l~ thrr~•~:f ~~all h.• in f~~rm .~r~rpt.~hl~• ,~~ t.~-«,itr.,r, : .,..~. .,. . . . . _ .r. _ .. ...-. _~ -_' -,-.- -....:. ~- - and in fnrm :iCCPpt:1IlIY II/ IA'lli~!•f. IA•ll~i«•rshall h.~c.• th~• n~ht :~ tc•~i+i t%t~• p,~i:•~« ~.'~n~~ r. .:• ~.~.::. t:.. r. . ... : c _- ,~.-. ,- ._ : - - - " -'-- - ~A'fl(IP! all renrw:~l ni~ti~-r.:~nd :~I! r~•~~.•~pt<~~f p:u~1 pn~~niun;~ (r, rh•~-<<~;,' , . . ,_, ~;.._ . ....--,...... _-• . ~- . -- ~~ ' - -•- --- -~~-- ' ~---•'- :~nd I.end~~r. lw~ndt~r muc makF~ pr,~~d~~f i,~:~ if n+~; FSt:1~f. E:r~~~::,,2'.c' . I:..rr .a..- ~i~ .r^ !'nlt~~s I.~~nd~~r and li~~rn~~nrrr ~~th~•ru~.<• .~~:rr•• .n ~+nt~:~~:_ :ti.~r.~:.~ ~~.. ,..:i> .~-.~.. . • . . . . .~. . . .,. .. . . - ... _ ...- . . - damaKrd. pnn~id~d .ut~h rt•.ti~r:iti~~~i ~~r r~•p:~ir i~.•..,n~~i~:~r.~il~ ....-~'t~l. :~n•f :h. ~~~ ...t~ ..- ~1 . ~ ~<• . . _ .._ _ .. .- -. i`-_.- ~. .. rc~storat!iin or rep.+ir iv r~nt rcur~~~nu :sll~ f~•,t.i!,l.•~,r if tit. ~~. t:nt•.-~~r ti;;~ ~1~~rta'.u:~ 'A• ~-:; 1 r .. .•..:r~ •: _...-.... _. .. • . .-. .- .•._-- - - -- - tuthesumvsrcun~clb~•th~~~L~rt~;:~K~•.w~thth~•~•~~. ..it.~n~.{r.iuit~~Fi~,r•~,v~.r 12t!:.~E'r,.4..^... ........ -:.-~~= . [t, -- :._• ..`:: --. arr=s~:=-~ re;p~md to I.cnder w•ithu~ :N~ da~~. frum thr ~1:~t~• n~.t.~. ,, rt;.~ti.,i ~ . (r:.~:• _ . }i .. :... .. ._, .!: .. -.r.~- . ..-r:.-r _. _- _ - ... _. ._:{-3: . insurancF ht•nrfit~. I.c•n~i~•r ~.:~utFn~nr•~; t~~ ~ ,li.~~ t .~r.~+, .~:~pl~ t!: rc:.ur....~ ~ E, ~•• .> ,~t ;.:: },.• .t.•. . _..... . ... .. _ . - •-. - •_ Yrnprrtt• or tht• sums .~•cumd b~~ ~hi: ~L~rtR.~~r l'nlecs l.enderand Rnrn~wt~r~~tht•r..i~~•:~~;r~•~ ~n :~nut:w..in~ -u~ h:~4~p!i~ .~u~~~;~ : ~,r..•.... . ~,-:-:.:,,.,i _.._.. . --.~_'r': - " - _ ".--r-. -_~r date of the monthl~• inst.~llment. rrf~•rn•~1 t~. :n par.~Fr.r,~-,, ~ .,~ul _ ... r..,~f ~~r ~ ti.i:iw. t7. .... .... . . _. .. ...-._....:. .-._. ~` _.. _.- ;:-•. _Er :- - - hercof thc Yrupi~rt~• is acyuirtKl h~ I e•~~~I~~r. .~11 n~:ht. htl. .~~,~? int~ n " •.f ft,~r•. _.•~• ;,. ~~:~i ~ .... ... ....... . . .. . .-. . ... .... _ - --" " -` !hereof resultinK frv~m ci.~nr.~Kc• t~~ f'n~F,.•rt~ pru~r t~~ the• :~i~• ~r :+~ ~;: . ~; ~r: ,h_~}i E,.t~. _ i, :, 2, r . .. -~*. -t : . . _...- --, ._ . - .... 11urt~;aKf• imenediatF~l~• prnnr t~~ ~urh s:il~• ~~r .u~qui~~tu~n ti. Yreservati~~n and ~1.~intenanccnf I'roprrt~: L~~.+.i•huld.; l'unduminum.: 1'lannc•d l~nit Ile•~rtupmrnt._ ~:-.rr. ...r _....:. <-,_}. the Pn~Fk•rt~• in ~;~N~d rt•puir :~nd .h:~l! nut r~~inrnu :ca.o• ~~r {~. rni:t irr.Er.ur:n.•r:: - r ~3. ;.::,.•.~t:~.r: . , . ;.. f'• ;~.., _.:: : ,...i.. . :--- -;:c pri~~•isiimv irf ant• lea.~• ~f lhi~ \1ur!R:~~;r i- un .~ !~•:~.~•tn~j~i (f th~. ~L~:t~.~*.• , r~ .. ..~i' ... .. , .. . :~:..,.... . . . r:_.r... . ...--- • - • . .. _.... li~~rri~~cc•r sh.+ll pt•rfi~rm all a~f li~~rr,~«~•r~• ~hli~;:~t~~.n~ _;r~~f.•r t!~,~ ,l~~• Lir.~r, .~ . ., ....::t- . _, _ . . . .... .;: .... .... ...... _.. ~ ._..-r.'_ unit dece~l~~pment. tt:e h~-1:~~+~ :~n~i rr~:ul:~ti~~n. ~~f th~ ~ „n:!=~r*i~riiu~ri ~~r F~1,~n~•+i Lr::t .i~.tirl..,,,~,'-, .., . ~ .._ ..,_ -, . ,._~~-.- : ~~ runduminium r~r pL~nnrd unit ~Irc~•~npm~•n! n~lrr ~> ~ ~~ ~~ft.,l i•c kw~rn~•A~ r ir.~: r• ~..r~i..? •~~. _^. z w::~: t...- ~l..;tr.~~~ .... _._ r_..r:~ .,r.,' .~Kr~•~~rn~•nt~~~f..uchr~il~•r<h:ill6~~•i~. ,~E~.~r.~t~~+.l;:t~~:~:-i~t,.~ii.... ,~~',.~r.~: .,~, ..,..~ ... . ...e:..-_.. ~_. • r- -.-.._.. r._=__._ ... l ndi•r ~e~•n~ a p:irt hrre•~~t. 7. Proteclion of I.ender'H tiecurit~•. If F~~~rr~~~t•r fa~l~ t~~ prrf~~rni thr c~~~~enar,t- .in~: ek-rc ::r.Yr.t- ~~•r.t_s:ac.'. :n th!= ~1 r.K.~~te. ,r.f a.} actiun ~~r proceedinK i~ cummrncc~ Kh~~~h m~itrriali~ .iffrct.: !.~•ndrr'~ intrn .~t in thr Yn ~; .-rtc ~n.:u~tar.~. . ... .,~-~c ::r.:.t~-j : • e~sn~r.: C ~ma;n inc~~lvenc~•, rnde enforcement, or arranRements or pnN•rrd~n~:~ in~~~I~~:nK a h.~nkn:pt ~: drrrri.=nt. :hrn Ir :~:rr a*, ir ,aer~- og;,~.:~.;;~~n n~tice tn Borru~ser may make duch appearancee. di~bur~~• ~uch .ums and t~iicr ~uch art;~~n a= :: r.a~r~r3n Lo pr•tec~ I.e :der~~ ;:terest. includinK, hut not limited Ui, diyburerment nf r~•.+s~,n:~h:e att~,rne~'~ fre~ .-n~1 rntn- u~~n thr Yr<.prrt: t rnaice repat:? I' I,er.~ler *~;:;ted mortK~Ke ineur,ince as a conditiun ~rf m:~kinK thE~ Ir~;~r ,a•~•urtYi h~~ thl- ~1~~rt~t:ikr. E~.~m~wrr -h,i:i ~.t~ :~r NCr.'i :uT- -.~uu;red ::~ ~^.a:::ta:n eu~h inyurance in e~fect until such time as thF• r~~yu~rrme•nt f~~r ~~.:~~h ln~~uar:.e -rrminat~: ~n ,ir~ ~~r'..~ncr ~:*.h H~,rr~ :~e* ~~~~ :y .~e-'c vcritten a({reement or applicahle [.:iw~. F3urruK•er yhali p:i~ thr a~n"unt ~•t .~1; m~~r.k.i~•• c~<<ar<anrr prrT.:~:r.v :n *:~:._ ^:.~::~<t ~~ .::cr:; _..~1e' par.iKraph Y hereuf. Any amuunts diKb::rstd hc I.~nder ~~rsuant t~~ thi~ p.~r.iK-.~ph -. ~uh in•.rr.st tn.•-.-•,n .:~aL :~~ c:~~ a~2::t: -:ii :.._ r:c~::c~- uf Rorrower serurc~ b}• thiv ~1~~rt~;aKe. ['nle~s F{QITUKYf and i~•ndrr ekrE•r t~~ •,thrr trrn., ~~f ~a~crrr.t. -~~- ~ ..:^,.u::r= =tsii ~ ;,s:s^:r ;:pi~a noti~e from f.ender tn liorruw~er rryur~UnK p:iymrnt thrnr~f, ard .h:ill he.-r ~ntrn_~t f:~,m ih~• datr ~ F ~?:•h::r~rmrr : at tZr ::itr ;,a}s: ;e fr~~m Ume t~~ time un ~~~tat:indinK pnnc~pal under thf~ ~:,tF unlr~s p:~cment ~~f ~ntt•rc•~t at ~u~-h ratr w:~..i~'. h.• ~~~~~tran :~ _~~~Y::~ .:` :e ;~a c- aT:ch e~~er.t auch am~~unt~ vhall }r~~.ir intc•rr:ct at the hiKh~wt r.-te prrtn~.ti~hie un:irr ,ipp:u .~t~le ;..x ~~~t~in~t :~~~taiah~ :.. ,...= paraF- .p:: '. =~:ai. requirQ l.en~lc•r t~~ ~n~ur any t~x~~e~st~ „r t.ike ant act~~~n hNreundPr ;;: ~x ~51 t,~~~ 4:~y