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<br /> Ut+u�ow CovexwNrs. Borrower and Leader covenan[ and agree as foUows :
<br /> 1, lay�t u( ldk�l a�i IWre�t. Borrower shall prompdy pay when due the principal of and interest on tlu
<br /> indebtedness evideuced by the Note, prepayment and lyte charges •as provided in the Note, and the principal of and inter�at
<br /> � m aay Future Advanca eocured by this Mort�aye.
<br /> 2. 14Ys hr Ta[�s sd Irreact. Sub}ect to applicable law or to a written waiver by Lender, Borrower shall pay
<br /> w Lender on tAe day manthly instaliments of priacipal and interest are payable under the Note, until the Note is paid in full.
<br /> a sum (herein "Fund�") equal to ono-twelfth of the ytady taxes and assessments which may attain priority over this
<br /> Mortsa�e, aad �round rentc oa the Property, if any, plus ono-twelfth of yeariy premium inetnllments for hazard insurrnce.
<br /> ptus ooFtwelfth of yearly promium inuallments for mortgaQe in�urance, if any, all as rcuonably estimated initially and from
<br /> dme to titne by Lender on t6e basis of ucecements and bills and reasonable estimates thereof.
<br /> 'ilfe Fundc chall bt held in an instiwtion the deposiu or accounts of which are insured or guaranteed by a Federal or
<br /> s4te a�ency ( includinQ Lender if Lender is such an institution ) . Lender shali apply the Funds ro pay said taxes, assescmentu.
<br /> imuraace premiums and �rouod rents. Lender may not charge for ao holding and xppfying thc Funds, analyzing said account,
<br /> or verifyin� aad compiling said assecsmentY and bills, unless Lender pays Borrower interest on the Funds and applicable Iaw
<br /> pernuu Lender to make such a charge. Borrower and l.ender may agree in writing at the time of execution of this
<br /> Mort�a�e that interest on the Funds shall be paid to Borrower, aad unless such agreement is made or applicable Iaw
<br /> requires such interest to be paid, Lender shall not tx required to pay Borrower any interest or earnings on the Funds. Lender
<br /> sl�all Qive to Borrower, wiihout charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br /> purpoce for which each debit to che Funds was made. The Funds are p[edged as addi[ionxl security for [he sums secured
<br /> by thic MortQa�t. �
<br /> If Ihe amount of the Fundc held by l.ender. [ogether with the fuwre monthly installments of Funds payable prior to
<br /> the due dauc of taxes, assessments, incurance premiums and ground rents, shall ezceed the amount reyuired to pay said taxes,
<br /> aeceirments, insuranc:e premiums und ground rents as they fall due, such excess chall be, at Borrower's option, either
<br /> prampUy repaid to Borrower or credrted to Burrower on mon[hly installments of Funds. If the amount of the Funds
<br /> heM by Lender shall not be sufficient to pay taxes, assessments, inwrance premiums anJ ground rents as they fall due.
<br /> Bortower ehall pay to L.ender any amount necescary to make up the deficiency within 30 daya from the date nouce is mailed
<br /> by Leader to Borrower reyuesunp payment thereof.
<br /> Upon payment �n full of all cumc cecurcd by this Mor�gage. 1 _ender shall prompdy rofund tu Borrower any Funda
<br /> (n held by LenAer. !f under para�raph IB hereot the Property is sold or the Property is otherwise acqwred by Lender, l.cnder
<br /> � rhdl aQp�y, no Iater than immediately prior co the sale of the Property or its acyuis�tion by Lender, any Funds held by
<br /> �y Lender at the time of application as a credit ayainst the sums secured by th�s Mortgage.
<br /> � 3. A�IfcatlN a[ P�y�eNs. Unless applicable law provides cstherwise , all payments received by Lender under the
<br /> � Note and para�raphs 1 and 2 hereof shall be applied by l .ender first in payment uf xmountc payable to L.ender by Borrower
<br /> under para�raph 2 hereof, t6on to intrrest payable un the Nute . then to the principxl of the Note, and then to interest and
<br /> principal on any Fuwre Advances.
<br /> (� 4. CY�e�er; LMrs. Borrower shall pay all �axes. aasessments and uther charges, fines and imposiuons attnbutable to
<br /> � t6e Property which may attai� a prioriry over this Mortga�e, and lessehold payments or �round rents, if any, in the manoer
<br /> provided under paraQraph 2 heroof or, if no[ paad m such manner, by Borrower making payment, when due, directly to the
<br /> psyee theroof. Borrower shatl pranptty furmsh w Lender all notwes of amounts due under this paragraph, and in the event
<br /> Borrower shall make payment direatly. Burrower shall promptly furnuh to l .ender receipts evid�ncing such payments.
<br /> Borrower chall prompdy diechar�e any lien wh�ch has prionry over ihis Mortgage; provided, that Borrower sh�ll not be
<br /> required to dicchar�e any cuch lien so long xs Borrow�r shall agree in writmg to the payment uf the obligation secured by
<br /> such lien in a manner accepta6le [o Lender, or shall in good faith contest such lien hy, or defend enforcement ot such lien in,
<br /> le�al procaedin�s wFiich operyte to prevent the enforcement of � he lien or tbrfN[ure of the Property or any part thereof.
<br /> S. iLrarll�qr�ce. Borrower shall keep the impruvements now existing or hereafter erected on the Property insured
<br /> a�ainrt lose by fire, hazrrds included with�n the cerm "eztended coverage", and such other hazards as Lender may require
<br /> rad ia cuch unounu and for such periods as Lender muy reyuire; provided, that l.ender shall not rcyuire that the amount of
<br /> such covera�e ezceed that amuunt of rnverx�e requved to pay the sums +ecured by this Moneagn.
<br /> 'ILe iosurance curier providing the incurance shrll be chosen by Borrower subject to approval by Lender: provided,
<br /> HW such approval sdall not be unnasonably withheld. All prnmiums on insurance policiee shall be paid in the manner
<br /> proveded under parssraph 2 hereof or, if not pxid in such manner, by Borrower malcing payment, when dur, direcUy to the
<br /> inturaace carrier.
<br /> All ioturance pdicies and renewalc thereof shall be in (orm accep� able to LrnJer und shall include a standard mongage
<br /> clsu�e in favor of and in form accepwbk to Ixnder. Lender chall have the nght to hold the Fwliries and renewals thereof,
<br /> aed Horrower shall prompdy furnieh to l.ender all renew�l nouces and all receip�s of paid pmmiums. In the event of loss,
<br /> Borrower shall �ive prompt iwtice to the insurance carr�er and Lender. Lender mry make pnwt of loss if not made promptly
<br /> by Borrower.
<br /> Unlecc Lender and Borrower otherwise xeree in w riung, inwrance pr�xeeds shall be applied to res[ora[ion or repair of
<br /> the Propeny dama�ed, provided siu:h restorauon or rcpair is economically feasible and the securiq ot ih�s Mortgage is
<br /> not tlfereby impa�red. If such rostorauon or repalr is nut ecunom�cally feaa�ble or � t thc sewrity uf �his Morteuge would
<br /> be impured, tlx meuraoce proceeds shatl be applied to thr sums �ccured by this Mortgage . whh � he ezcess, if any. paid
<br /> [o Borrower. If the Propert) is abandoned by Borrower, or it Borrower tails to rospond to l�ender w�thin 30 daya irom the
<br /> date notiee is mailed by L.ender to Borrower that the insurance carner ot(en to �enle a claim for insurance benefits, lxnder
<br /> is authorized to collect and apply the insurance proceedx at Lender's option either to rectora�ion or repair of thr Property
<br /> or to t6e rums cecurod by thic MonjaQe.
<br /> Unkes L.tnder aod BMrower othenvise aQree m writinQ, any such app6cation of prcxeeds to pnncipal ehall oo[ exlend
<br /> or postpone the due date of the monthly installments ret�rred io in paragraphs I and 2 her�t ur change ihe amount of
<br /> wC6 installmentc. If uodet pusEraQlf 18 hereof the Propeny ia acywred by L.ender, all right , title and interest ul Borrower
<br /> in a� lo any imurance policioe and in and to the proceeds thereof rrsulting from damaee to t6e PropeRy prior to the sale
<br /> or acquisi4on chal! prcc to Lender to [he c�tent of the sums �ecurr.ai b} thu Murtgage immedia�ely prior tu such sale or
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<br /> f. lwerralfr� ay tiiri�twa�a.�e uf Ihvpe�t� : Leareboldc: ('ondomiaiams: Ptaaeed t'sN l���elo'pe�enls. B��rnuer
<br /> sl�al! keep the Property in Qood repair and shdl not commit wastr or permrt impairment or deterioration of the Propeny
<br /> aed aha►1 oo�ply wKh the provic�oec of any lerte if this Mortga�e is on a leacehuld. If this Mortgagn is on a unit in a
<br /> condominium or a planned unit development. Borrower shall perfurm all of Borrower's obligalions under the declaration
<br /> or ooven�ets creatio� or eovarnie� the condominium or plannud unit development, the by-laws a�d regulations of the
<br /> cqfdo�niei�um or plaesed usit developnfen�, and conaituent documents. If a condominium or planned unit Jevelopment �
<br /> rider u ex4c�ted by Porrowex rod ra;orded toQether w�th th�s Mortgage, the �ovenxnts and agreements of such rider
<br /> ider '
<br /> �a11 (�p itpaporMsd iMo and shaH aied:d and supplemeot the covenants ami �rcements of this Mortg�e as if the rider ,�,,< -
<br /> weeea a p�rt 6aoof. �`
<br /> � 7, lwN�Y� d L��a S�e�. If Bo�rower fxils to perform the covenants and a�rocments contained in this ;;
<br /> 1�[eef�ye� a i( ae+y actim ur preoepdies �s c;oma�enoed which materially affecta Lender's inierest in [he P+ openy,
<br /> irdudi�, but eot �1ed w, ewieeet doma�n. i�wolvencY, code enforcement. ar arran�emente ur pnweadinge involving a �'
<br /> 6�ypt or decedent, tlfen Leedet at L.eeder's opticm, trpon nc�t�ct tc� Borrrnver. may malce sucfi appearancec, dntwrsc such
<br /> � � {� � � as r vepwa�y to protect Leeder�s �naCrcet. �rn:ivai�ng. but nax li�n�tcal t.i. �iabwsc�ucu� .�f
<br /> e�oa�e�bie �Rtpa�syy foes aed esuy upoe t�e Proptny to make nepairs. If Lender required mortgage insurance as a .
<br /> cooedifio� of wdci� dl! lo�a rOeu[ed by tit+s Mo�tia�e• BorT°wer ahall pay the premiuet�s requiraf to mainta�n si�ch
<br /> i�-�e� m eQeet �w�M a�eh �iw�e a� N�e realniro�eM for suc:h �ne�uance tenninates in acco+dance w�th Borauwer'. and
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