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<br /> . UNIPORM GOM8NAN7$. $orrotver and Lender covenant and agree as follows : � �
<br /> 1. Paymept oE Prin+eipal qna Initerssf. Borrower shall prqmp3ly pay when due thc ptincipal of aad iqterest on the
<br /> indebtsdncas evidenced by the Note.. ;prepaymtnx and laYe ohargeg ac provided in the Note, and Yhe principal of and interost
<br /> o� any Puture Advances secured by thia Mortgage.
<br /> 2. Fmds for T�a and Iimorance. Subjtct to applieable law or to a written waiver by Londer„ Borrowar sha11 pay
<br /> to Lepder on the day moothly insi�ltments of principal and interest are payable under the Note, until the Note is paid in full, ,
<br /> a sum (herei,n ••Funda"} equal to ans-twelfth of the yearly taxes and assessmenta which may attain priority over 4his
<br /> Mortgage, and grcund rtntn on the Pcoperty, if any, plua �ne•twelfth of qearly premium insCallments far hazard insurance,
<br /> ' plus onrtw�lfth of yearly premium rnstalimenYs fnr mortgege insurance, if aay, alI as reasonably tstimatad initially and from
<br /> time to Ume by L:epder on the basis of assea3mcnts and bil!'s and reas.ona6la estimaies Yhereof.
<br /> T'he Funds shall lx hdd in an institutioo the deppsits or accou„u �f which are iosured ar guaranteecf by a Federal or
<br /> state ageney (including Lender if Lender is sueh an ipstitution) . Lender shall apply the Funds to Pay said taxes, asstssrtunts.
<br /> insurance pnmiums and gronnd rents. Lender may noe charge fcsr so holding and applying Rhe Funds, analyzin;g said acctyunt,
<br /> ar verifying and compiling said asscssments and bills, unless Lander pays Borrower interest on the Funds andl appllcable law
<br /> perm'iu Lender to make such a charge. Borrowor and Lender may agxee in wriNng ae rhe time af executiun of this
<br /> Mortgage that ince[est on rhe Fynds sh�ll be paid to $orrower, and unless such agreemenx is made or appiieablc law
<br /> requira sucfi intenst tp bt paid, Lopder slaall not be required to pay $orrower any inlecest or earnings on the Punds. Lxnder
<br /> shal! givr Lo $oaower, withour charge, an annuml aecounfing of rhe Funds shc?wing credits and debits to the Funds and the
<br /> purpose for which each debit to ehe Funds was made. The Funds are pledged as addirional secnrity for the sums secured
<br /> by this Mortgage.
<br /> If the amount ot the Funds held by Lender, together wit,h the Futuce moncNly installments af Funds payab'le prioe tq
<br /> f6e Gue dates pf taxes, assessments, insurance premiums and ground renu, shall exCeed xhe amounc required to pay saiJ Caxes,
<br /> aaxssments, inswrance pretniums and ground rents as they fall duc, such excess shall be, at Borrower s �pti�n, eithu
<br /> promptly repaid ta Bortowor o.r credited co Bnrrower an munthly installments of Fund4. If the amount of the Funds
<br /> held by Lender shall not be suf&eient to pay taxes, assessments, insurance premiums and ground reots as they fall due,
<br /> Bortowet shali pay to Lender any arnount necessary to make up the deficiency within 3� days from the date natice is mailed
<br /> by Leadet to Borrower requuting" pa'yment therenf.
<br /> Updn payment in full pf all sums secured by this Mortgage, Le-nde� shall prpmpcly refund to Borrower any Funds
<br /> held by I.ender. If updtr paragrap0 18 hereof the Property� is sold pr tNe Property is otherwise aequired by Lender, IJend'er
<br /> shall apply, no later Shan irtunediately prior to trie sale of the Property pr its acqnisition by Lender, any Punds held by
<br /> Lender ar the Cime of application as a ccedit against the sums sec.ured by th�s Mortgage.
<br /> 3, Appllcation of Fayunents. llnless applicable law provides othe-rwise, all payments received by Lender uitder the
<br /> IVote and paragtaphs 1 and 2 hercof sh-alI be appLied by Lender first im payment of amounu paya4lt to L.�nder by Bortrower
<br /> under paragtaph 2 hercpf, then to interest paqable on the lYote, chen to the principal of the Nbte, and then to intorest and
<br /> prinripal on any Furute Advances.
<br /> 4. Chacges; Lieas. $occower shall pay a11' taxes., �ssessments aad uther charges fines ancl impositions att•ributable to
<br /> the Property which may attain a p�iority over this Mortg�ge, and leasehold p�ymencs or gcound eents, if any. in the manncr
<br /> prpvided undat paragraph 2 hereof or, if not paid in sueh manner, hy �orrower making paymtnc, when due, direeUy to the
<br /> payqe thereof. Bortnwec shaW promptly fwrnish to Len�ier all notices aE amounu due undor this paragraph, attrd in che event
<br /> Borrawer shall make papment direcely, Boerow�r shati prompcly fumisfi tu Lender receipts evideacing sucfi payments.
<br /> Bonowa� shall prompdy discharge anq Gen which has pri�riry �ver this Martgage; provided, ehat Barrower shall not be
<br /> cequired Yo discharge acxy such Iien su )ong as Borrower sriall agree in writi:ng to the paymenS of ihe otil�gacian secured by
<br /> suth lien in a manner accep[able to Lender, pr shall in gcrod faith cc�a[est such lien hy�, or defend enforcemenE of sueh lien in,
<br /> legal procetdings which operate to prevent the enforcement of the lien or forfeiture of the F'roperty or any part thereof.
<br /> 5. Hazard Insurance. Borrower shatl keep the improvements now existing or hereafter erected on the Property insured
<br /> agaiast loss by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br /> and in such amounts and for such periods az Lmder may require; provided, that Lender shall not require that the amount of
<br /> such coverage exceed [hat amount of coverege required to pay the sums secured by this Mortgage.
<br /> T6e insurance carrier providing the insurance shall be chosen by Borrower subject to approval 6y Lender; provided,
<br /> that such approval shall not be unreasonably withheld. All premiums on insurance policies shalt be paid in the manner
<br /> provided under paragraph 2 hermf or, if not paid in such manner, by Borrower making payment, when due, direcdy ta the
<br /> insurance carrier.
<br /> All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br /> clause in favor of and in form acceptable to Lender. Lender shalt have the right to hold the policies and renewats thereof,
<br /> and Borrower shall prompAy fumish to Lender all renewal notices and all receipts of paid premiums. In the event of loss.
<br /> Borrower shall give prompt notice to the insurance carrier and Lendec Lender may make proof of loss if not made prompUy
<br /> by Borrower.
<br /> Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br /> the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgagc 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 Borrowec 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 Lender to Borrower that the insurance carrier ofters co seetle a ctaim for insurance benefiu, Lender
<br /> is aut6oriud to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br /> or to the sums secured by this Mortgage.
<br /> Unless L.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 hereof or change the amount of
<br /> such installments. If under paragraph 18 hereof the Property is acquired by L.ender, alI right, title and interest of Borrower
<br /> ia and to any insurance policies and in and to the proceeds tliereof resulting from damage to the Property prior to the sale
<br /> or acquisition s6att pass to L.ender to the extent of the sums secured by this Mortgage immediately prior to such sale or
<br /> acquisition.
<br /> � 6. Preservatloo and Maintenance of Property; l.easeholds; Condominiums; Planned Unit Developments. Borrower � .
<br /> shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property
<br /> , and s6all comply with the provisions of any lesx if this Mortgagc is on a Ieasehold. If this Mortgagc 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 /> 5 condominium or plenned unit development, and constituent documems. If a condominium or planned unit development
<br /> � rider is executed by Borrower and recorded together with this Mortgage, the coveoants and agreements of such rider .,�
<br /> � 56alI be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider >_ ±
<br /> � wete a part hereof. r ' •
<br /> 7. Protection of I.eader'a Security. If Borrower fails to perform the covenants and agreements contained in this � ,
<br /> Mortgage, or if any action or proceeding is commenced which muterially affects Lender's interest in the Propeny,
<br /> including, but not limited to, eminent domain, insolvency, code enforcement, or arrangemrnts or proceedings involving a �
<br /> baakrupt or decedmt, then L.ender at Lender's option, upon notice to Borrower, may make such appearances, disburse such � �",
<br /> su[ns and take such action at is necessary to protect Lendcr s interest, including, but not limited to, disbursement of ' "+�"' '
<br /> ! reasonable attomey's fxa arnl rntry upon the Property to make rcpairs. if Lender roquired mortgage insurance as a '
<br /> �� * condition of making the tosn securod by this Mortgage, Borrower shall pay the premiums required to maintain such " � +��� ��. �
<br /> � inaurance in eHect until such time as the requirement for such insurance terminates in accordance with Borrower's and
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