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<br /> �$-� 0 018 71
<br /> UNrnoxM CovsrrwtaTs. Borrower and Lender covenant and agree as follows :
<br /> 3. Payment oE P'rinclpW aud ]nterest. Borrower shall promptly pay when due the principal of and interest on the
<br /> indebtedneas cvidenced by the Note, prepayment and Iate eharges as provided in the Note, and t6e principal of and interest
<br /> oa any Future Advances xcured by this Mortgaga
<br /> ' 2. Fnnds for Tazes arnl Iasuzance. Subject to applicabie law or to a written waiver by Lender, Borrower shati pay
<br /> � to Lender on Wc day monthly installments of principal nnd interost are payable under the Note, untii the Note is paid in full.
<br /> a aum (6ere'tn "Funds") equa[ to one-twelfth of the yoarly taxes and assessments which may attain priority over this
<br /> MoKgage, and grouod nnts on t6e Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br /> -' x pins ono-twelfth oE ycarly premium installments for mortgage insuranee, if any, all as reasonabiy �timated initislly and from ,
<br /> dme to time by I.ender on the basis of assessments and bills and nasonable estimates thereof.
<br /> ' Thc Funds shatl be hcld in an institution thc deposits or accounu of which are insured or guaranteed by a Federal or
<br /> ' ; atate agency (induding Lender if I.ender is such an institution) . Lender shatl apply thc Funds to pay said taxu, assessmenu,
<br /> � insursace preminms and ground renis. Lender may not charge for so holding and applying the Funds, analyziog said account,
<br /> ' ', or verifying and compiling said assessments and bills, uniess Lender pays Borrower interest on the Funds and appticable Iaw
<br /> ; permitt Lender to make such a charge. Borrower and Lender may agree in writing at the ame of execution of this
<br /> Mortgage t6at interat on the Fnnds shall be paid to Borrower, and unless such agreement is made or applicable law
<br /> requira such interest to be paid, Lmder shall not be required to pay Sorrower any interest or eamings on tlae Funds. Lender
<br /> ishall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds aad the
<br /> purpose for which each debit to the Funds was made. 'Ihe Funds are pledged as additional securiry for the sums seeured
<br /> 6y this Mortgage.
<br /> � If the aznount of the Funds held by Lender, [ogether with the future monthly installmeou of Funds payabie prior to
<br /> the due dates of ta�ces, assessments, insurance premiums and ground rents, shall eacceed the amount required to pay said taxes,
<br /> � assessments, insuraace premiums and ground rents as they fall due, such excess shal! be, at Borrower's option, either
<br /> < promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the arnouat of the Funds
<br /> � held by Lender shall not be st�fticient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br /> ' � Bonower shall pay ro Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailad
<br /> ' t by Lender W B�orrower requesting psyment thereof.
<br /> Upon payrneat in full of all sums secured by this Mortgage, Lender shall prompWy refund to Sorrower any Funds
<br /> held by i.ender_ If under pazagraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br /> ; f shall apply, no later than immediately prior ro the sale of the Property or its acquisition by Lender, any Funds hdd by
<br /> ; Lender at the time of application as a credit against the sums secured by this Mortg�ge.
<br /> � 3. Applieation of Paymenle. Unless applicable law provides otherwise, all payments received by Lender under the
<br /> Note and paragraphs 1 and 2 hereof shall be applied by L.ender first in payrnent of amounts payable to Lender by Borrower
<br /> under pazagraph 2 hereof, then 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 /> 4 4. Charges; Liens. Bonower shall pay all taxes, assessmenis and other charges. fines and impositions attributable to
<br /> � the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manner
<br /> � provided under paragraph 2 hereof or, if nat paid in such manner, by Borrower making paymmt, when due, direcdy to the
<br /> . � payee thereof. Bonower shall promptly furaish to Lender all notices of amounu due under this paragraph, and in the cvent
<br /> � Borrower shall make payment dirutly, Borrower shalt promptty furnish to Lender receipts evidenciog such paymenu.
<br /> Bonower shall promptly dixharge any lien which has priority over this Mortgage; provided, that Borrower shall not be
<br /> � required to discharge any such lien so tong as Boreower shall agree in writing to the payment of the obligation secured by
<br /> such lien in a manaer acceptable to Lender, or shall in goad faith contest such lien by, or defend enforcement of such lien in,
<br /> legal proceedings which operate to provent the enforcement of the fien or focfeiture of the Property or any part theroof.
<br /> � 5. Hazrrd Insunnce. Horrower shall keep the improvements now existing or hereafter erected on the Property insured
<br /> against lou by Sre, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br /> � and in such amounu 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 insurance carrier providing t6e insurance shall be chosen by Borrower subject to approval by L,ender, provided,
<br /> that such approval shall not be unroasonably withheld. All premiums on insurance policies shall be paid in the manner
<br /> � provided under paragtaph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, dimUy to the
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<br /> iOSW8IICC C8Ii1Ci.
<br /> fAll insurance policies and renewals thereof shall be iR form acceptable to Lender and shall include a standard mortgage
<br /> clanae in favor of and in form acceptable to I.ender. Lender shall have the right to hold the policies and re;.:awals thereof,
<br /> and Bonowet s6a11 prompdy furnish to Lender atl renewal notices and all receipts of paid premiums. In the event of loss.
<br /> Bocrower shal! give prompt notice to the insurance carrier and Lender. Lender may make proof of Ioss if not made promptly
<br /> by Borrower.
<br /> Unless Lender and Borrowu otherwise agree in writing, insurance proceeds shall be applied to rostoration or repair of
<br />� the Properry damaged, provided such restoration or repair is economicaliy feasible and the security of this Mortgage is
<br /> not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Mortgage would
<br /> be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid
<br />� � to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
<br /> date notice is mailed by I,ender to Borcower that the insurance carrier ofters to settle a claim for insurance benefits, Lrnder
<br /> is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br /> 4 or to the sums secured by this Mortgage.
<br /> � Unleu I.ender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />} or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hercof or change the amount of
<br />� such installments. If under paragraph l8 hereof the Property is acquired by Lender, all right, tiUe and interest of Borrower
<br /> in and co any insurance policies and in and to the proceeds thereof resulting from damage to t6e Property prior to the sale
<br />�' � or acquisition shall pass to Lender to [6e extent of the sums secured by this Mortgage immediately prior to such sale or
<br /> � acquisition.
<br />� 6. Prcservatioo and Maintenance of Prope�ty; I,caseholds; Condominiums; Planned Unit Developments. Borrower
<br /> ahall keep the Property in good repair and shall no[ commit waste or permit impairment or deterioration of the Property
<br />, � and shall comply with the provisions 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, Borrower shall perform all of Borrower s obligations under the declaration
<br />, , � or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the
<br />, j condomi�ium or planned unit development, and constituent documents. If a condominium or planned unit development
<br /> � rider is executed by Borrower and recorded together with this Mortgage, the covenanta and agreements of such rider
<br /> s6all be incorporated into and shall amend and supplement the covenants and agrcements of this Mortgage as if the rider
<br /> were a part hereof. "' `
<br /> 7. Protection of Le�der'e Security. If Borrower fails to perform the covenants and agreements contained in this
<br />� Mortgage, or if any action or ptoceeding is commenced which materially affects Lender's inrerest in the Property. I
<br /> including, but not 1"nnited Yo, eminent domain, insolvency, code enforeement, or arrangemmu ar proceedings involving a
<br /> bsakrupt or decedent, then L.ender at Leader^s option, upon notice to Borrower, may make such appearances, disburse such
<br />� sulas aad take such actioa as is aecessary to protect I.ender's interes4 including, but not limited to, disbursement of
<br /> = � reaaoaable attorney's fees and entry upon the Property to make repairs. If Lender required mortgage insurance as a
<br /> � coaditioa of making the loan secured by tlils Mortgage, Borrower shall pay the premiums required to maintain such
<br />�->� �; � -� . . . � �nauraace� In effect until sueh time �as the requirement for such insurance terminatu in accordance with Borrower's and
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