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<br /> U�v�roata CoveN�Nrs. Borrower and Leoder covenant and agrx as follows :
<br /> �, p�yae�1 st peioelpl md Llered. Borrower shall promptly pay when due the principal of and interest on the
<br /> indebtedneu evideneed by the Note, prepayment and lau charges as provided in the Note, and the principal of and intereu
<br /> � oa aay Future Advances secured by this MortaaQe.
<br /> Z Foads for T�es ud lenua�ce. S++bject to applicable law or to a written waiver by Lender, Borrower shall pay
<br /> W L.endec oa t6e day ma+[hly instaliments of principal and interest are paysble under the Note, until the Note is paid in full.
<br /> a sum (herein "Fundf") equal to ono-tweifth of the yearly taxes and assessrnents which may attain priority ovu this
<br /> MortQtye, at�d ground rents on the Property, if any, plus one-twclfth of yearly premium installments for hazard insurance,
<br /> plus one-twdith of yearly premium installmente for moRgage insurance, if any, nIl as rcasonsbly estimated initially and from
<br /> ume to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br /> 'Ibe Funds chall be held in an institution the depoaits or accounts of which are insured o[ yusrantred by a Foderal or
<br /> state a�ency (includin� Lender if Lender is such an institution ) . l.ender shall apply the Funds to pay said taxes, assessmentc,
<br /> ipsuraace pnmiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzinY said account,
<br /> or verifying and compilinQ said assessmenu and billc, unless Lender pays Borrower interest on the Funds and applicabte law
<br /> permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br /> Mortya�e that interest on the Funds ahall be paid to Borrower, and unless such a¢reement is made or applicable law
<br /> requirec such interest to be paid, L.ender shall not be required to pay Borrower any in[erest or earnings on the Funds. Lender
<br /> shall Qive to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br /> pttrpoae for which each debit to the Funds was made. 7he Funds are pledged as additional security for the sums secured
<br /> by t6is Mort�a�e.
<br /> If the amount of the Funds held by l.ender, [ogether with the tuture monthly installments of Funds payable prior to
<br /> tht due dates of ta�ces, assessments, insurance premiums anJ ground rents, shall exceed the amount reyuired to pay said taxes.
<br /> assesements, insurance premiums and ground rents as they fall due, such ezcess shall be, at Borrower's option, either
<br /> prompdy repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Fundc
<br /> held by Lender shall not be suli'icient to pay taxes, assessments, insurance premiums an3 ground rents ac they fall due,
<br /> Borrower shall pay to Lender any amount necessary to make up [he deficiency within 30 days trom the date notice is mailed
<br /> by L.euder to Borrower requesting payment thereof.
<br /> Upon payment in full of aU sums secured by this Mortgage , l.ender shall prompUy refund to Borrower arty Funds
<br /> � held by Lender. If under parayraph 18 hereof th� Property is sold or the Property is otherwise acquired by Lender, Lender
<br /> � shsll apply. no later than immediately prior to the sale of the Property or its acquisition by L.ender, any Funds held by
<br /> �y Leader at tde time of application as a crodit agamst the sums secured by this Mortgage .
<br /> � 3. Ap�licatloa of Paymeefs. Unless applicable law proviJes otherwise , all payments received by I.ender under the
<br /> � Note and puagraphs 1 and 2 hereof shall be applied by l.ender first m payment of amounts payable w Lendnr by Borrower
<br /> � under paraaraph 2 hereof, t6en to interest payable on the Note, then to the principal of the Note, and then to interest and
<br /> principal on any Future Advances.
<br /> ^ 0. CYa�; IJeoe. Barrower shall pay all tazes, assessments and other charges, fines and imposiuons attributrble to
<br /> � the Property which may at[ain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manner
<br /> provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, diracdy to the
<br /> payee thereof. Borrower shall prompUy furnish to Lender all notices of amounts due under this paragraph, and in tt�e event
<br /> Borrower shall malce payment direcUy, Borrower shall prompUy furnish [o I.ender receipts evidencing such p�yments.
<br /> Borrower shall prompdy discharge any lien which has priority over �his Mortgage; provided, that Borrower shxlt not be
<br /> required to discharge any such lien so long •as Borrower shall agree in wnung to the payment of the obligation su:urrA by
<br /> such lien in a manexr acceptable to Lender, or shall in gcwd faith contesi such lien by, or dcfend enforcement of such lien in.
<br /> leQal proceedings which operate to prevent the enforcemem of the lien or forfeiwre of the Propeny or any pan thereof.
<br /> S. Haz�rA I�surasce. Botrower shall kecp the improvements noH exisung or hereafter erected on the Pruperty insured
<br /> a�sinat loes by $rc, hazards induded within the term "�xtended coverage", and such other hazards as Lender may require
<br /> and in such amounta and for such periods as l.ender may roquire; provided, that Lender shall no[ requirc that the xrnount of
<br /> such coveraee excetd that amount of coverage reyuired to pay the sums �ecured by �h�s Mortgage.
<br /> T1fe insuraace carcier providing the insurance shall be chosen by Borrower subject to approval by I.ender, provided.
<br /> that such apQroval shall not be unroasonably withheld. All premiums on insurance policies shall be paid in the manner
<br /> provided under paraQraph 2 hereof or, if not paid in such manner, by Borrower malcing payment, when due, direcdy to the
<br /> iusurance carrier.
<br /> Al! insuranee policies and renewals thereof shall be in fortn rcceptable to LenJrr and shall include a standard mongage
<br /> clauee in favor of and in form acceptable to l.ender. Lxnder shall have the right tu hold � he policies and renewals thereof.
<br /> and Barrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the evene of loss,
<br /> Borrower shall give prompt notice to the insurance carner and Lender. Lender may make proot o[ loss if not made prompdy
<br /> by Borrower.
<br /> Ualees Lender and Borrower otherwise agree in wriung, insurance prMeeds shell be applied «� restoration or repair of
<br /> the Propeny damaIIed, provicled such restoration or repeir is economically feasiblr and [he securiry of thls MortQage is
<br /> not thereby itapaired. If such restoration or repair is not economically feasible or it the secunty ot this Mort�age would
<br /> be impaired, the ineurance proceeds shall be applied to the sums secured hy this Mortgage, with the excess, if any, paid
<br /> to Borrower. If the Property is abanduned by Burrowcr, ur it Burrower tails to respund to 1_ender within 30 daya trom the
<br /> date nopa is mailed by L.ender to Borrower tha[ the insurance carrier oKers to seWe a clxim for insurance t�nefits , Ixnder
<br /> is autborized to collect and apply the insurance proceeds at Lender's option either to res�oration or repair of the Property
<br /> or to the cums secured by thia Mon�e.
<br /> Unkcs Lender and Borrower otherwisr agree in writing, any such applicacion of proceeds to pnncipal shall not ex[end
<br /> or poetpone the due date of Ihe monthly insiallments referred tu in paragraphti I anJ Z hereof or changn ih� amoimt of
<br /> auc6 installmenta. I[ under pua�raph IS hereof the Properry is acyuired by Lxnder, all right, tide and interest ot Borrower
<br /> in and to any insurance policies and in and to the proc;eeds thereo[ resul�ing from damage to the Property prior to the sala
<br /> or acquisidon shall pess to L.ender to the extent of tho sums secured by this Mortgage immediately prior to wch sale or
<br /> ac,quis'ation.
<br /> f. Aqervalioo �nd Mdnfenrace of Property: l.easeholdc: ('ondominiumc: rlaened Ueit Developn�ewle. 13orrower
<br /> shall lueep the ProQetly in �ood repair and shall not commit waste or permn impairment or de[erwrauon o1 the Yroperty
<br /> apd ahall comply with the provisions of any lease if th�s Morigag� is on a leasehold. lf this Mortgy�e is on a un�t in a
<br /> condoeninium or a planned unit development, Borrower shall perform all oi Borrowcr's obligations under the declaration
<br /> or covenaats creating or governing the condomin�um or planned unit elevelopmen�, the byIxws xrxl regulations of the
<br /> cundominium or planned uait development, and constituent ciocuments. lf a condominium or planned uni[ development
<br /> rider is ezecuted by Borrowu and ruonded together with this Mortgage, the covenants and agreements of such rider
<br /> t6a11 be [ncprpq�aled into and ahall amend and supplement the covenan�s an1 agreements of this Mortya�e as if the rider ..
<br /> were a patt hereof. ;,w
<br /> L 7� �y� � k�r`` �y. If Borrower fails to perfurm the covenants and alreements contained in this .
<br /> �(���p� p� j( any actiun or procepdin� is commonced which materially alfects Leoder's interest in the P*operty,
<br /> ioc�udat�a, but po� lixpited to, eminent doa�ai�, ineolvency, code rnforcement, or arrangements or proceedings involving a '�'"`
<br /> �up� a deo�dea�, then I.euder Yt Londer i optiun, upon noticc to Borrrn+ cr, ma� make such a�+�xarances, d�sl+urce auh
<br /> wu�y ypd take ctych action as is necessar'}' to prMect I .ender's i�terest , mcluding, but no� IimitrJ to, di�bunement of
<br /> roa�opabk atWiney's feet aed entry upon the Properly to make repairs. If L.ender requircd mortgagt inxurance ys a
<br /> condition of makint tbe ban sec�ued by td�s MoRgage, Bortower shall pay thc premi�ms required to maintain su�h
<br /> ie�uraeee in eQectt unti► suc6 time as the requirement for suc6 insur�nce terminates �n accordance with Borrower's and
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