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HomeMy WebLinkAbout1912. . . ..~.;: ~o: ~.~..; ~NDIAIDf1V~ , . , . ~~~: . .~~... . . ~ . . • . ..~ ~ ..~~~~.1.~~ ~~• t~11 1~tU~~~.~~i . . . . . . . . ...,. . . , . . ., . . . . . ~~~~ ~~. ,,i «,~tr, ~~~,i~:, ~~r<<.~~ ro n u~.p~qn~s ul . . . ~ 1 . }' ~+ ., ~•.. 1 ~ ' ~ ~ • . , . . . .. , ., ~~~ ~• ~!.~~~t( 7tit,~ :I~.~~.Ir:~ M~•Ut.t`•1~~~. (`If. ~It~f. (i~ ~'1G BORVWa['alld'~1l~t(E~l1laNrhd'~Nw~~0~~i7` ~~r ; ~ ~~ • { ~~~ ~~. ~..`.• r,..r7~~'• ~'IU~~l•~~+(~~~.llrll((~~WOI(Y-~1G~•r,~nu~vuq 1. Payment ot Principal a~d Intere~~ liorrower shell pmmptly pay when due the p~ncipal o( and ineerat on the indebtedneas evidenoed by the Not~, pnepq~rment ot-d late ehar~M w providod in theNoje, and the principal ot and i~terest on any Future Advences sccured by thir• Mort~a~e. ' ` ' ~ • ` ~ : , r 2. l~irld~ toir'~!'iirei i~~tn~~r~iice:'3ub'(eh kN appylcedle tavi~ br'~o j"viA'iE~en waEUer~y 1'.erider"~orrowel~shA~1 paj~'ta~:en~ero`'4'~_h~~~~'aay . a1c~1h1y iA~tliliri~~~ilf~bt}~iHlipi~tY4i8iiitl4~dii~~Ayblb'1~bHifdlkt-~+lO~t!!Ibi6t11'!~il~tli68E~i~'p~i1i'~ihM1i`e(~fifkN~Nfin"~Mi~"~~~~-1"tb-dlfe tweMbotll~S~~7~~1 ~d~weW~aeatiltMith~iyyttl~fwpMoNtpet~t IMI',MdA~e4~-ttd~ln~qrd tNtNaq01~R~6pd~ty~it~i~{lFa181~ twelfth vi~rerrLY~~re~i~~a.~wt~Llmaal~b~rfi~~rdi~4u~no~plw o~-l~w~~fttlQf „t+~l~q~wP infMllmestwfvr sNirjpgtibtwrWeruviitaeY. all as reasonably eatimated initially and from time to time by [.ende~ o~ the basia of aeaeaementa and bills and reasonable eatim~tes thereof. '1'b~.Funas ihall be held i~ an institution the depwits ot accounts of which an insured or gueranteed by a Federal or State agency (including Lender it Lender ia s~ek ari i~NtitLti0fril.~.litidl~+bh~ll apply the Funda to pay eaid taxes, asaeasments, insurance premiums and ground rents. [,ender may not d-arge for so holding end epplying the Funds, analyzing said account, pr veritying and compili~g said asaeesments and bills~ unleaa Lender payi`~~pvy~c 1~tenyt oo ths ~uadsnnd aDPiicable law permita L.ender lo make ~uch a charge. Borrower and~i.ender may agree in Mrriting at the time of e:ecution of this Mortgage that i~tec~t on the Funde shall be paid to Borrower. and unleas auch agreement is made or applicable law requires such intenst to be peid, l.ender shall not be required to pay Borrower any interest or earninge on the ~Lnds. Lender shaU give to Borrower, without charge, an annual accounting of the Funda ahowing credits and debita to the Funds and the purpoae [or which each debit to the F~nde was made.'!?~e Funda are pledged as additional security for the aume secured by this Mortgage. ' If the amount of the ~Lnds hetd by Lendet, tog~tRE~''wiW the Cuture rt~eht}il~ iiletaUilieAfs ofF~daL pajrable prior to the due datea of taxes, aeseeamenta, inaurance premiumtand groand repb, ~hall•~otuaed the artoua~r~qqind ro p6~ said ~efxe4 asaesamente, ineurance premiums and gmund renta as they tall due. such excess ~ aR,~t~ovaer's Ppti~;~iths~ p~wnQe~lyt_ ,~.Borrower or credited to Borroweron monthly installments of ~nds. If the amount Q~ .e~#'tunds j}e~bjr ~q;dec a~~ nq`~~~u~~4p~y ta:es, asseasmenta, insurance premiuma and ground rents aa they fall due. Borro ei ahelf p~y' t.e~-d"er eny ounl ecessa~t tn ~ up the deficiency within 30 days from the date notice is mailed by Lender te Botro6ir~+t~re~a~estif~¢ bi~~ed~''tFi ``' `:' =~'= `•` ':,,i Upon payment in full of all ~~ana secured by t~is~Mort{4ig6, ~Zt ehglYproKt~NN~~t~~'ififd t6' Bo~Tvifr any funda held by l.ender_ 1[ under paragraph 18 hereof the P~operty ia sold or the Properiy ia otherwiae acquired by Lender, I.ender shall apply, no later tha~ immediately prior to the sele of the Piroperty or ite acquisition by l.ender, any Funda held by I.ender at the time of application ae a credit againat the auma eecur~ed by thia Mortgage. 3. Application ot Payments. Unlesa applicable law providea otherwiee, sU paymenta received by I.ender under the Note and paragraphs 1 and 2 hereof ahall be applied by Lender firet in paymlent of amounts payable to I.ender by Borrower under paragraph 2 hereot, then to intereat payable on the Note, then to the principal of the Note, and then to interest and principal on any Future Advances. ~ 4. Chargee; Liena. Borrowershall pay all taxea, asaessments and otherrharqes, finea and impositions attributable lo the Property which may attain a priority over this Mortgage, and leasehold payments orground rents, itany, in the manner provided under paragraph 2 hereotor. if not paid in such manner, by Borrower making payment, when due, directly to the payee thereoL Borrower shall promptly furniah to Lender aU notices of amounts due unde~ this paragraph, and in the event E3orrower shall make payment directly, Borrower shall promptly furnish to l,ender receipts evidencing such payments. E3orrower shal) promptly discharge any lien which has prionty over this Mort~ge: provided, that E;orrower shall not be required to discharge any such lien so long as f~rrowershall agree in writing to the payment of the obligation secured by such lien in s~ manner acceptable to ixnder, or shall in good fs~ith cuntest such lien by, ordefend enforcement of such lien in, legal proceedings which operate to prevent the enfurcement of the lien ur forfeiture o[ the Property or any part lhereof. 5_ Hazard Insursnce. Borruw~er shall keep the improvements now existinq or hereaRer erected on the Pmperty insured against loas by fire, hazards inrluded within the term "extended coveraRe," and xuch other hazards as Ixnder may require aod in such amounta and forauch peri~~ds as Ixnder mAy require; provided, that l.ender shall not reyuire that the amount ot such eoverage exceed that amount o[ coveraqe required to pay the sums secured bythis Mortgage. • The insurance carrier providinK the insurance shall F~ chnsen by Fiorrower subject tu approval by ixnder, provided, that such approval shall not be unreasonably withheld. All premiums on insurance p~dicirs shall he paid in the manner pmvided under paragr:~ph 2 hereof or, if nut paid in such manner, by E~rrower making payment~ when due, directly to the insurance carrier. All insurance policiea and renewals thereo(shall be in form acceptable to l.ender and shall include a standard mortgage clause in favorof and in form aeceptabl~ to [,ender. l.ender shall have the right to huld the policies and renewats thereof, and Borrower shall piomptly furniah to i.ender all renewal notices and all receipts ot paid premiums. In the event of loss, E~c-rruwer ahall give prompt notice to the insurance carrier and i.ender. Lender may make proof of loss if not made promptly by Eiorrower. Unlea's [.ender and E3orrower otherwise agree in writing, insurance proceeda ahall be applied to reetoration or repair of the Property damaged, provided such restoration or repair is economically feasible and the security of thie Mortgaqe ie not thereby impaired_ It such restoration or repair is not economically feasible or if thP security of this Mortgage would be impaired, the insurance proceeda shall be applied to the aums secured by this Mortgaqe, with the excess, if any, paid to E3~rrower. If the Property ie abandoned by Borrower, or if Borrower faile to reapond to Lender within 30 days from the date notice is mailed by I.ender tu &-rrower that the inaurance carrier offers to settle a claim for insurance benefits, l.endet is'authotized to collect and apply the insurence proceeds at Lender's option either to reatoration or repair of the Property or the auma eecured by this Mortgage. .. ,. .. . . ,-.~.~ Unleas Leodg[ and Rorirowei o~hetwise agree in yitnt~ R ~ any auch,apglicaRion of~roceeds to principal shall not eatend or poatpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of auch inatallmenta' I! under paragraph 18 hereof the Plroperly ia ~cqui-~d 6y-I.ender, all right, tiUe and intetest of Borrowet in and to any inaurance polic'f~i and in and to tAe pioceeda thereof resalti~g Prom d6mage-E~ ~roperty prior tn the sdie or acqau+tion shall paes to E.ender bt~the t~cteni s['t?ie bumb~secured`liy tkie Mortgage immediately prior to euch sale or acquisition. -~ • u • .: . .. . ,: . .• ~, : .., . ~s. .t = ~. 6. Preeervation and Maintenance otProperty; Leaseholda; Condominums; Planned Unit Developmenta. Borrower ahall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and ahall comply with the provisiona of any lease if this Mortgage is on a leasehold. I[ this Mortgage is on a unit in a condominium or a planned unit development, Rorrower ahall perfocm ell o! Borrower'e obligations undtr the declaration brcovenanta creatingm governing the condominium or planned unit development, the by-laws and regulations of the condominium ~s planned nnit dnvelopment, and •~unstitsent: dsettmehts. IA~i condominium or planned unil development rider is executed by E3orrower. and recorded togethet.wi,th this Mortgage, the oovenants snd .igreements of buch riaer st~al( be incorporated intu and shall am4nd and su4Rlement the covenants and agreemenfs of this`Morlgage as if the rider wern a part hereof. ~' ~ 7. Protection ot Lender's 3ecurity. It Borrower taita to perform the oovenants and agreements contained in this Morlgage, or if any action or prooecding u oominenoed which meterially~affede I.ender}s inteNat in the Property, inciuding, but not limited to, eminent domain. insolvency, ooda•~forcemea~ or errangements or pRooeedingssmrolvi~g a~baekrupR or decedeM,.th~u-La~d4e•at I~ader's•option,npon notice to Borrower may meke ruch appearances, disburet eush sumr.and take iuch.action siiayi-eoeaspry to proteci L~eader'~ int~cast including, but not limiLed to..dirbursement of reasonable attorney's [eea end entry upon the Property to ihahe repefr~. If Lender requued mortgage ineurance as e condition of making the loan secured by thie Mortgege, Borrower shall pay the premiums required to maintain euch insurame'in effi~c4"uhtit snah time ae the requirement !or such insurance terminatea•in accordance with Borrowerb and Lender's written agreement or applicable Law. Borrower shall pay the amount of all mortgage inaurance premiums in the manner provided under paragreph 2 hereoL . Any amounta diebnrsed by Lender pereuant to this paragraph ?, with interest thereon, shall become additionel indebtedness of Horrower secured by this Mortgage. Unless Borrowie+a~l 4ndesa~ree ~c#hlritrma oi payment, such amopnts shall be payable upon notice 6om Lender to Borrower requesting payment t~ereof, and shell bea ~nZeiest from the date of disbursement at the rete payable [rom time to time on outetanding principal under the Note unleae payment of interest at such rete would be rnntrary to applicable law, in which event such amounte shal) bear interest at the highest rate permiseible under applicable law. Nothing rnntained in this paragraph ?, shall require Lender to incur any e:pense or take sny action hereander. e~ R i. f.: ~~ ~ i ~ . . .: ~s ~:~. .. __ _ ~~~~~348 Pa~~t~~~i ' , ~ .:~ ~ ; ::~ ~.