HomeMy WebLinkAbout0978v .3`.~.~' , r.f t7 l ~
t ~
llNIFORM COVENANTS Bor-ower and Lender covenant and agree as tot!ows
1. Psyment ot Principal snd Intsrost. Borrower shau promptly pay when ~~e the pr~nc~pa~ ut anc2 ~nteiest on trie
~ndentedness ev~denced by the Note. prepayment and iate cha~ges as prov~ded ~n ihe Note. and v~e prmc~~~at ot arrf mterest
on any Future Advances secur2d by Ih~s Mortgage.
Z. Funds forTaxssand In~ursnes. Sub~ect to appl~cable Iaw or to a wr~tten wa~ver by Lender. Borrower shai~ f>ay
to Le~der ~n the day monthly mstaliments ot pnncipal and mteresl are payable uncie- the Note. unt~i the Note ~s p~~cd m tu~i
<~ ~um ,t~ere~n 'Funds"j equai to one-iweiith oi ±he yeany taxes and assessments which may altain prionty nve- th~s
Mortgage and ground rents on the Property, ~f any, p!us one-twetfth oi yearly premium mstallments to~ hazard insur~~nr,f
G~~us one-twelfth of yea-ly prem~um ~nstallmerns for mortgage ~nsurance. it any, al! as reasaonably eshmated m~t~ally and trom
t.me iu i~me uy lef~aer on the Das~s of assessments and b~ii~ antl reasonaDle eshmates the-eof
The Funds snaH be held m an mst~lut~on the depos~ts o~ accounts ot wh~ch are msured o~ guaranteed t~y a Fe~ferai or
state agencyi~nclud~ng Lender ~f Lende~ ~s such an ~nst~tut~on- Lender shall aFp~y tne Funds to pay sa~d taxes assessn~c~~ts
~ns;s•ance premiums and ground rents. Lender may not charge fo- so hoiding and apply~ng Ihe Funds araly7~ng sa~d acc.~unt
or venfy~ng and c:omp~tmg sa~d assessmerns an~ bitls. unless Lender pays Borrower ~nte+est on the Fun~:s anci appncabte i~w
~~rmrts Lender ,a make such a charge Borrower and Lender may ag+ee ~n wnt~ng at the t~me o' exec~t~on ot t~~s
'~lortgage tha! ~nterest on the Funds shatl be paid to Bo!rower. and unless such agreement ~s made or appi~can!e :aw
~equ~res such ~nterest to be pa~d. Lendet s~all not be reqwred to pay Borrower any ~nterest orearrnngs on the Funds Lender
;nz,;i g~ve to Borrower. w~thout charge. an annuat accouM~nq of the Funds show~ng cred~ts and ~]et~!ts tu the Funcis ann the
;:ur~~r,se tor wh~ch each deb~t to Ine Funds was made The Funds are pleciged as ~ddihonal secur~ty for the sums secu~ecl
:~; ;n~s Mo:tgaye
It !he amount of the Funds held by Lender. together w~th the tuture m;~nth!y ~ri5taltmenls ol f unds -~ayat;'t> pnnr to
?he due dales of taxes assesSmenls msurance premiums and ground rents shal~ ex;:eed the <+m~,;nt re.auup~S to pay ~a~<f !axt=,
assessme~ts ~nsurance premiums and g!ound rents as they fau due. su~n excess s~~<ai~ r,e at Bc~novler s opt,on e;ir.er
;;iuinptiy repa~d !o Borrower or credited to Borro~.ver on monthl~ ~nstaisments of Funds It the amount of the Func1;
^e!d by lender shall not be sufhc~ent to pay taxes. assessments ~nsurance p+em~ums an~f grou^d ~en?s as they ta~~ ~i~.e
8~,~•ower shai! pay to Lender any amoum necessary t~ make up Ihe def~r,~ency v:~th~n 30 days from !n~ h~t~.~~>>,ce :5 ~^a~:ea
~r, ~e^~~er te Borrower reques'~ng payrnent thereof
Upon payment ~n fu11 of ail sums secured by th~s Mortgage. Lender snaii promptiy ~et„n~ ±o Ber~o,ver ar,y F::nr1s
r~e+ci by Lender If ~nder pa-agraph 18 hereot the Property ~s soid or the Prope+ty ~s o!herw~se acq:,~re~i bY Lerder ~e~~ier
sr:d~~ ~pp~y no !ater than ~mmed~ately pnor to the saie ot the Proper~y or ~ts acqu~s~non t~y Lender. any Funci; ~e~C by
Ler,de~ at the t~me ot app!~cat~on as a cred~t aga~nst ihe sums secured Cy tn~s AAortgage
3. Applieation of Payments. Un~ess apG~~cab!e taw prov,des otherw~se a'~ payme^ts rec~~~:ed ny ~er.c~~=r ,;r,;ler tr~
'~ote and paragraphs ' and 2 hereof sha~I be appi~ed by Lenc7e~ t~rst ~n payn'en! o' arnounts pav~+t.:e to Lencie~ c~y 8~,~!o:,a-~
..~~~fer paragraph 2 hereot tnen to ~nterest payahie on the (vcite tnen to the p~~r.c;,a~ c,' tnP N~te and ?r.~~; t~~ ,^ieres• nr-t
:~+ ^~,pa! :,n any Fu,ure Advances
4. Charges; Liens. Borrower sha~i Gay ai! taxes assessmen-s ar~M~' ~~~~p~:~-~,~ dttr~r~~,tab ~~!u
~ne Prr,p~rty wh~ch may atta~n a pno;~ty over th~s Mortga~e anci iease~~o:d paYments~ ~ any. ~~~ !h@ Rl~i?nE'~
pr~~vEded under paragraph 2 nereof or ~! not pa~d ~n such manner by Borrower mak~r,+~~~f1~ie~ due n~r~ct~y !o sne
c•ayee thereof Borrower shatl promptly fum~sh to ~encier d~~ ~~nces of gfRC~(lAield16~~0U1R~l1~9 pb~g~fjh_"~~d ~Fr~he s;en~
~n/fn~VPf Cf1Si11 T7kP fiavmnnt rlirnrtlv Rnrrnu,~. choi~ .~........u,. c.......-`. {•.. ~,..,~,j.~p..~. _(,~._..._.. ~.~.~~,y-~-y-~~'-- '-._~ ~a.~...• .
u ~~. ~..:~:-j ::~..:; ;~iY ~'~,1„~Y ~~~LM ~~T~f'~~~[„~~i~3U~-`~lt%i~i~
Borrower shait promptiy d~scharge any i~en ~vn+ch has pr~onty over this~~a9e~_RS2Y~~. ;h~ ~~E~~~~~~~~~t be
requ~red to d~scha~ge any such I~en sc iong as Borro~ver shali agree .n 4he paymem ot t e ligat~on ecured by
such i~en ~n a manner acceptable to Lender or shali ~n good fa~th contes? sucn ~~en by ordete~d enforcement ~f;uch ~~en ~n
egai prcceedEngs wh~ch operate to prevent the enforcement ot the !~en ,:~r forte~tu~e ot the Property or any part inereo±
5. Hazard Insurance. Borrawer shail keep the ~mprovemenis no,rv existmg o~~e~eatter Prected on ~ne Property ~ns~recf
aga~nst ioss by f~re haza;ds ~nc;uded w~th~n the te-m exrPnded ccverage anc~ such otner r.aza~ds as ~enne~ may ~equ~re
anci ~n such amounts and for such per~o~.is as Lender requ~re prov~ded tha, Ler.de~ ~hai: noi ~equ~-e tr~at the amount u!
slicr c,overage exceed that amount of covesage req~.~~red to pay the surm ;ecured h~ ?h;s ~,~ortgaye
?he ~nsurance carner prov~d~ng ihe ~nsur~nce shall be chesen by 8orrowe~ sut;;ec~ to app!ova~ by Le^~er p•„~:::~~~2
'ha? such approvai sha!! not be unreasonab!y w~thhe?d A~, p*em~,,rn; ~n +n;uranr_e ~,.;hc,~s sha:: t~e pa~d ~n !he f~l~nnn•
prOv:de~ under paragraph 2 her2of or if nOt did !^ SUCh ma~~~! !,~ ~~; • m; ~in .r .• .~~ r r.-
C , 8~+ .:a~ i g;:a} .anT .~hf-, due h.~ tly t,, ~E~
,n;u~ance ca~~~er
~+~! 'noU!anCE' DOIiC,es and renewa~s thereof sha:, be ~n torm ac-.e;~?at,:E• ?r; : e'~~1Er <3n;; S^~~~: ~'1~ u;@ a Stc~nt7dtC7 r^,prtc~dC~F
!'~?LSQ ~n'a~or ot and rn to~m accepiah!e ;o Lender ~e^(}f - 5~18" !? 3VP fhn n~7h' ±p hr~i~ thE pO~~C~es anci r~nevtc~~S !he?r~,^,f
and 8orrower shai! prompNy tum~sh to Lender ati rpnewai ~ot,c.es and aif rece~p!s „` pa"} p!Pfn!UTS !n ,he event of ~oss
Bo~rcwer sha~i q~ve promQt nohc.e to tr~e ~nsurance carner and ~e~?rier Le^ner may ^:s~re p~no! c!'.ass ~f n~,t made C~~omp~ y
7y Borrower
Un:`ess Lende! and Borrower o?herv~se ag'P_E ~n ~Yr~f~"~~ 'nSurd^Ce D'J~~'t'c}~ 5^~ii' f,F• <iG:~i:~E;C3' ~ rE'S'O'e?:On :~ rE'Dd~' C`:
'^f- Property dama~ed ;,rov,ded suc~~~ 'C52U!a?iOn O~ repav i5 E?CO^Gf7'.iCFl~~y ~EaS t~~P .3" ~~E? SF~.::'rSy _~}'h;5 ~,/!rl'C~clC~f.• '~
~}? !~ereby ~mpa~red It such restorat~o~ o! repa~r ~s r:~! econom~ca!iy. feas~c:!f ,'~~ F ~~.~,,,•~t, r~f th c t~r,rgaye wo;, ri
:)Q ~mpa~red. the ~nsurance proceeds shaU be aDGE~~~j to ~he sums securecf by ~^~s ~J1G!'C~ i~)~' ..Y~!!': ?hE Px~eSS ~! ery ~id:~
?0 8orroweF If the Property ~s abandoned by Bor.ower or ~t Borrowe- ta~is to r~spond to i_ender w~tn~n 30 days ~rpm lhP
7ate r:.:,hce ~s ma~led by Lender to Borrower that !he msu~ance carr~er otfers :v Se11ie a c, a~m~ ~~~ i!lyUfdrlCf' rQ!lk}i15 ~~'(1~E'!
5 d~,~hr~•'iZ?d !O CO~I@Cf df1C1 ~Dp~y ihP :~ ~SU~anCe G':~C~edS a! Le^.~@/S Op';O": ~~!her ?_~P~' ,~:•~0~. :, '~~;d~~r r)t ,hE~ Qrr,~:~p~'~,
~-~ ±o tr,e sums secu~ecl by -n~; Mortyage
Unless Lende~ and Be~rower other,v~se ag~ee ~~ vrr~,~r.g any su^h aR~~!.c:+t~~~,^ ot pr~; E tcf~ to pnnc:pai ;ha,' ^~•~ f>x~e_•nn
%' riO~ii>C'lE' fhP dU@ da~e O} !.'1B Tr~f!1!li'~r ;f1S1d':/T`E'1(S 'E?~P!fpt~1 i0 ;/t i~3•'dQ•;f(~i'~ '~i•,~: .' nnrc.,-~f 7. r!;dr1qP ~ht? ~1:•':~U•i• ~~~
;:~~~ ,ns!a;~,menTS It under paragraph %~ he~eoi th~ F•~~-~e~ty ~S =~c .u,rad ti~~ LF^~1p~ a'~' ~;h' !:t~e 3.^.~1 ~n!r~r~.sr .,;? BorrC.;re!
.~ drei tr~ a^y ;r.surance poi+c~es af«~ ~n, :3~1C~ 'Q 1~}P ~!n!'f~f'.r~c thprp ~ ,.~ i.- .
_ [~ _ .O r S~. i ~ . :~r~ . cfR',S lt !i'r.F P -:(~r T (~•,,:~. 'C'hE' ~d f•
, a~,r~~~5~tv^vR ShB~I ~855 !G LE,'''7Br r., .np ~-~t~~n1 f ~ i •~~
~ .~ _ _ :~. .hE' _,_:R.i SEC.. PCS . ~ 1. !~ . . <3( ~ r..~~ ; dtP' „
`~ ~~ i r ~' 'G ~ _'~ S~3~E '.
:~'.'7.IS~~;.^.n
6. Preservation and Maintena~ce of Property; Leaseholds; Condominiums; Planned Unit Developments.
ij';"<;.vt" Shd!i kee~ t~e Prop"th.: ~^ C30Q'~ repa~r an~i Shai+ !;C' CJR'.^.~li W8~iE3 ~'1• D~r•^t! tm~;~i,•n,ent O~ 7F_•(e':n,rd!rp^. ~)! t^P F" ~
iiF:!!': d^:: 5!'ai; com~,ly wiin ?hP prov~s~onc of any ~ease ~t th~s Mo!?gage i5 Gfl ~ ~f•a5P!?C)iCS !1'h!5'L",:~t!C~dO( ~c ~n :3 :;^tt ;r .i
',;,.^,~:~.`i'n;^,!UR; Of d p~8~1!lf'y iilll? (:@JP~O~.~^'C/lt. BJlfpYJE;f Shd~~ perform a~! O} BO!~C~'."lE'! 5 O~)~~ga':r,nc il•,r;F,• thp r1E'C~d'd'~,':^
, "r:f?'1~!'~t~ C!C8?i'lQ OI C~U`:erning ihe CO!ih;;T.~'?i~~f*~ C! Q!a~?nPC] U'~~? !y@VP.~O(~rT:P!1t !hf? ClY •cfY:S ?nrj .r•~~il'~j':7^c -:~ .r,p
'. ~".'i~,..~ i~n; G' Qi8f1/1B•'.1 Gf!it C~f?V2!Or:(T?P!11. ef1:3 CGr1~hiUE,'fl! CjOCIiTE'r115 ~t c~ CC^7Uft'i'~~u•^' 7! (; <1!11EC1 ~.^IT C:P.~p ~;(~•• (.•~•
C'.gl I~ exec:,le~i czy Barrowe' B~C~ fBCOf~f,'(j 'OgP!I1Pt ~V~i~~ 1h~; ~J1(~!!q%1C~n t~~P r~,.E:rt~n!~ :~n,'i :~C'E'f?mE^!c ~~• ~,~t ~.;~,.
f '. f;P ~r~;,/p{~'dfE.'~ ~n'O a^(: :hdil ~~R1nn(1 =3ftC7 SU?aiEf'~F?n? !hf~ C~ VY'~3^?S dn~:l dC)rpC!~p rc -.f + - ':~';!' ~,i~1i~ d5 ~ ..,F, ., ~;,.
:.F rE~ :j ~~~fn .-,t,~pr!
7. Protection of Lender's Security. it B('iflpYlf?I }a~ij !C~ perfOrm the Cn~:Q'idfl',S A!1c2 ~~1~E~Et~^t~~1S c~;nt~ n~~C} ;n t~;~
~.~ .r,_:AC~p ~)~ ,1 ;flly' 3~~~~~R !)! [l'Oi.:Et"~i(~~1 `~ CO!T1R1F?f1CPCj ~.Vr:!Cf! f!~citf,'~Id~+V if~}Pr;i~ L.f?'l!~[?t 1 ,~~'PrpS• ,n !nF: F•~:_,~~F..~..
~•,., r,.~i r t~T.~?f,'~'G CT.~!lHn~ •~Q,^ id~I; ~f1SO;v~~cy ccdP. f"110fC?;T.Erlt G< <d!!~~CJE3!r:E'!11~ Of ~1fG~Ff C~ini3~ ..(• ~
.:
.,. •,.i~'',• .1E,CeC~E'il. ihe~ ~f?~iiC~ e1 ~P.n!7e! 5 Opi~On. upOn ^O!trf ?G BOriOYIP.!. ^'d'y~ T~kf? SUCh a(?,ia~r~n, ~ S Chc;,~,~ c~, ~,,-~~.
.. --i~. i~d'vn ~!.~~~~ dre~~~r~ dS ;S r1Gir~pcSr3 ~ f0 ~pTLCt ~ !t r i ;r, ~ n'.', tf.•C1 1J i~1SCiU'~n~^.{~~ -~'
'v P• ~e de. s;nte esE c'u;~ ,g tr,,, ,:m; , ;.
• -:f` ~• .tt••.••~Ey S f~'f~5 ff^il C'nj~y ~U'~'! ?he Property 'o make repars ~1 1 F,r,jp, r''ti.+'~P'~ ",.'~t'q~C7f' ~!1~;J~!^~F~ •i=
~ , : ..,,i~,. CJ (!;f_' ;~~, ~F" ;rn : t~y ..,~5 PJ~Oft ..
.. . C)3~2 ~r~rrOWCf 5hd ()dy rnr ~~.Fzm m,~ .f,~~,~s.n~ r .r, l..
• , , -F . n"r, . .rl' S,.`.h r~•nr <3~ ; .E,~~ .~~.rpn~ !7' Si.'h in5;. .an~;f ;P•~r-ir ~i?e_ c , ~ .3CC'~~'jd C F~ . .f r? , ... . ,
-~•~ avlt ~.
~ 35 I ~ye 9 ~~'