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<br /> �s- �J01819
<br /> Urtu+otu.i Covarr�rrrs. Borrower and Lender covenant and agree as follows :
<br /> L Paymwt of Paioclpal and Interest. Borrower shall prompUy pay when due the principal of and interest on the
<br /> ipdebtedncas evidenced by ttu Note, pnpayment and late charges as provided in the Note, and the priocipal of and intereat
<br /> � on any Future .4dvances secured by this Martgaga �
<br /> ' Z. Fands for Ta=es aod I�a�ance. Subject to applicable Iaw or to a written waiver by I.ender, Bonower shalI pay
<br /> v ' [o Zandar on t6e day monthly installments of principel and interesL are payable under the Note, until the Note is paid in full,
<br /> 4 , a sum (herein "Fundn'� equal to one-twelfth of the yearly taxes and assessments which msy attain priority over this
<br /> , Moctgage, and ground rentc on the Property, if any, plus one-tw�lfth of yeady premium installmentt for hazard insurance, �
<br /> � plus one-twelfth of ytarly promium installments for mortgage insuranee, if any, alt as reasonably estimated in'rtially and from
<br /> 6me to time"by Leader on the basis of assessmrnts and biils and reasonable estimates thereof.
<br /> t The Funds shall be he(d in an iasritution the deposits or accounts of which are insured or gaaranteed by a Federal or
<br /> � atate agency (inclmding Lender if I.ender is such an ins[itution) . Lender shalt apply the Funds to pay said taxes, assessments,
<br /> ;� iaturance pnmiums and groand rcnCs. Lendee may not charge for so holding and applying the Funds, anatyzing said acc�unt,
<br /> -� or verifying and eompiling said assessments and bilis, unless Lender pays $orrower interest on t6e Funds and appiicable law
<br /> '� permits' Lender to make such a charge. Borrower and L.ender may agree in writing at the time of execution of this
<br /> Mortgage that iaterest on the Funds shall be paid to Borrower, and untess such agreement is made oe applicable taw
<br /> requires such interest to be paid, Lender shall not be reqvirad to pay Borrower any in[erest or earnings on the Funrls. Lender
<br /> r _ shall give to Horrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br /> � purpose for wbic6 eac6 debit to the Funds was made. The Funds are piedged as additional security for the sums secured
<br /> � by this Mortgage.
<br /> If the amount of the Funds held by Lender, together with the future monthly installments of �unds payable prior to
<br /> ; the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br /> a+seaements, insurance prcmiums aod ground rents as they fall due. such excess shall 6c, at Borrower's option, either `
<br /> � ptompfly repaid to Borrawer ot ctedited to Sorrownr on monthly installments of Punds. If the amount of the Funds
<br /> ,a held by L.ender shall aot be sufficient to pay taxes, aasessments, insurance premiums and ground rents aa they fall due,
<br /> � Borrower shall pay to Lender any amount necessstty to make up the deficiency within 30 days from the date notice is mailed
<br /> by I.ender to Boaower requesting' payment thereof.
<br /> � Upon payment in full of all sums secured by this Mortgage, Lender shall promptly refund to Bocrower any Funds
<br /> held by Lender. If under paragraph 18 hereof the Property is sold or the Property is otherwise acquimd by Lender, Lrnder
<br /> ehall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br /> Leader at the time of application az a cradit against the sums secured by this Mortgaga
<br /> 3. Applicatlon oi Payments. Unless applicable law provides otherwise, aII payments received by Lender under the
<br /> Note and garagraphs 1 and 2 herwf shall be applied by Lender first in payment of amounts payable to Leader by Borrower
<br /> under paragraph 2 heceo[, then to interest payable on the Note, then to the principal of the Note, and then ro interest and
<br /> principal on any Puture Advances. ,,>�;
<br /> 4. Charges; Liens, Borrower shall pay all taxes, assessments and other charges, fincs and impositians anributable to �
<br /> tLe Property which may attain a priority over this Mongage, and leasehold paymenu or ground rents, if any, in the manner �
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<br /> : provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making paymeot, when due, direcUy to the + u "
<br /> payee t6erecrf. Horrovt�er shall prompUy furnish to Leader all notices of amounu due under this paragraph, and in thc event
<br /> Borrower shalt make payment directly, Borrower shalt promptly fumish to Lender receipts evidencing such payments. '
<br /> Borrower sball prompUy diuharge any lien which has prioriry over this Murtgage; provided, that Borrower shall not be �
<br /> requind to disc6arge any such lien so Iong as Borrower shall agree in writing to the payment of the obligation secured by
<br /> such liea in a manner acceptable to L.ender, or shall in good faith contest such lien by, or defend enforcemrnt of such lien in,
<br /> legal proceedings w6ich operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br /> 5• Hazard Ineurance. Borrower shall keep the improvemrnts now existing or hereafter erected on the Property insured
<br /> against lou by fue, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br /> and in auch amounta and for such periods as Lender may require; provided, that Lender shall not require that the amount of
<br /> such coverage exceed that amount of coverage required to pay the sums secured by this Mortgage. '
<br /> The iffiurauce carrier providing the insurance shall be chosen by Borrower svbject to approval by L.ender, provided, a -
<br /> that such aQproval shall not be unreasonably withheld. All premiums on insurartce policies shall be paid in the manner
<br /> provided under paragraph 2 henof or, if not paid in such manner, by Borrower making payment, when due, direcHy to the
<br /> insurance carrier.
<br /> All insurance policies and renewals thereof shall be in form acceptable to L.ender a�d shall include a standard mortgage
<br /> clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof,
<br /> and Borrower shall prompUy furnish to Lender all renewal notices and all receipts of paid premiums. In the evrnt of loss,
<br /> Borrower s6a11 give prompc notice to the insurance carrier and Lender. i.ender may make proof of loss if not made promptty
<br /> by Bonower.
<br /> Unlqs Lcnder and Borrower otherwise agrce in writing, insurance proceeds shall be applied to restoration or npair of
<br /> the Properry damaged, provided such rutoration or repair is economically feasible and the security of this Mortgage is
<br /> not thereby impaired. If such restoration or repair is not economically fcasible or if the security of this Mortgage woutd
<br /> be impaired, t6e inaurance proceeds shall be applied to the sums secured by this Mor[gage, with the excess, if any, paid
<br /> to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Leader within 30 days from 2he
<br /> date notice is mailed by I.ender [o Borrower that ihe insurance carrier ofters to setUe a daim for insurance benefiu, Lender
<br /> is authoriud to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br /> or w the sums secured 6y this Mortgage.
<br /> Unless Lender and Bonower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br /> or postpone the due date of the monthly installments referrod to in paragraphs 1 and 2 hereof or chang� the amount of
<br /> " such installments. If under paragraph IS hercof the Property is acquired by Lender, all right, tiUe and intcrest of Borrower
<br /> in and to any iosurance policies and irt and to the proceeds thereof resulting from damage to the Property prior to the sale
<br /> or acquisitioa shall pass to Lender to ffie pcunt of the sums secured by ttais Mortgage immediately prior to such sale or
<br /> acquisition.
<br /> 6. Prcservation aod Mainteaance of Prope�ty; Leasehold4; Condominiums; Planned Un(t Developments. Borrower
<br /> shall Icap the Property iu good repair and shall no[ commit wazte or permit impairment or deterioration of the Property
<br /> and shalt comply wit6 the provisiona of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a
<br /> condominium or a planned unit development, Sorrower shail perform all of Borrower's obligations under the declaration
<br /> oc covenants creatiag ot governing the condominium or planned unit development, the by-Iaws and regulations of the ;
<br /> condominium or planned un�t development, and constituent documents_ If a condominium or planned unit development
<br /> rider is executed by Bokrower and zecorded together with this Mortgage, the covenants and agreemenu of such rider _ '�
<br /> ahall be incorpocated iato and sha1L ameod and supplement the cove�ants and ageements of this Mortgage as if the rider ` ` °
<br /> 1�were:a part Bereof_ , �;
<br /> 7. Protectlon of Lemle�a Security. If Borrower fails to perfortn the covenants and agreementa contained in this "' '`
<br /> Mortgagq or if aay ac4on or proceeding is �commenced which mazerially aft'ects Lender's inierest ia the Property, � � x
<br /> iocluding, but not limited to, eminrnC domain, �nsolvency, code enforcement, or arrangements or proceedings involving a � " '
<br /> banlavpt or debedent,"then Lende� at Lender's option, upon;notice to Bonower, may make such appearances, disburse such � ' ` -
<br /> sums and .takasuch actioa as is �cessary to protecc I.enders interest, including, but not limited to, disbursement of �" " �+t* +
<br /> reaaonable attom�y's fees aod entry upon the Property to make repairs. If Le�er required mortgage insurance as a - .*' x �>�
<br /> conditioa of making the doan secured by this Mortgage, Borrower ahall pay the premiums requircd to maintain such
<br /> mturance in e8eet unt7 such time as the requitement for such insurance termioaces in accordance with Bormwers and
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