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<br /> � �
<br /> 7s� UQ217 �
<br /> Ulvipo�aM Coveivertxs. 8orcatvar amti Lendec covenant and agcec as follows :
<br /> 1. Paymeat of Pr(ocipat aud InteresG Horrower shall promptty pey whan due tfie principai of and interest on the
<br /> indebCednsss evidenced by fhe Note, prepayment aad �atc charges as prouided in the Note, and the principal pf and inrertst
<br /> on any Fut�te Advancos secured b.y Chis Mortgage.
<br /> 3. Funds for T�es and Insusance. Subject to a,pgfycable law or to a u^ritten waiver by L.andtr, Borrower shali pay
<br /> io I,cnder on tha day monthly installments of principal and interest ara payable under Ch� 1Vute, until the Note 9s paid in full,
<br /> ' a sum (herein "Funda'ry equal to one-twelfth oE the yearly saxes end assessments which may attain priority over thu
<br /> Mortgage, and gTound cenu on the Property, if any, plus onaYwelfth of yearly premiqm installmeats for hazard insurance,
<br /> plus one-twttfth of yearly premium instalimenra for mortgage insurance, if any, all as roasonably estimatsd ini2ialMy and #rom
<br /> time to eitne by Lander on the basis of assessmeats and bi11s and reasonable estimates thereof.
<br /> The Funds shall be held in an institution the deposits or accounts of which axe insurcd or guaraoteed by a Federal or
<br /> staEe agenFy (including Lender if Lender is such an institutiah) . T,:ender shull apply the Funds to pay said taxes, assessrnents,
<br /> ituurance premiums and ground rents. Lender may noc charge for so hold�ng ansl applying tha Funds, analyzing said account,
<br /> or verifying and compiling said assessments and b�lls, unless Lender �?ays Borrower �c�terest on the Funds and �ppl'iaable law
<br /> permits Lendec to make such a oharge. Borrower and Lendee may agcee in writing at the Rime of exec:utfon of Yhia
<br /> Mortgage that interest an the Funds shall be paid t� Borrower, �nd unless snch agreement is made pr applicablr Iaw
<br /> nquil'es such interest to be paid, Lender sha16 nM ht required tn pay Be�rrower any interest or earnings an the Funds. Lender
<br /> shalt give to Borrower, without charge, an annual accounting of the Funiis shawing cred�ts and debits to the Funds and fhe
<br /> purpose far whieh each debit to the Funds was made. `[ht Funds are pftdged as additiana( security for c6e svms secured
<br /> by this Mortgage.
<br /> If Che atnownt af rhe �unds hnld by Lencier, together wich the Euture monbhly insFallments of Fnnds pa,yable prior to
<br /> the due dates of taxes, assessmencs, iruurance prenriums and ground renU, shall excaed Che amaunt required to pay said taxes,
<br /> gssusmtnts, insurence pramiums and ground rehts as they fa;41 due, such excess chall be, at Borrower's option, eicher
<br /> pcompUy repaid ta 8tttrowar pr credited to Bocrower on monehly insfaliments af Funds. 1f the amaunt of the Funds
<br /> 8eld by Lender shall not be sufficient tp pay raxrs, assessments, insurance premiums and ground rencs aa they fall due. :
<br /> Bonowtr shall pay to Lr�der any ampunt necessary co m�ke up 2he deficieney within 3U daqa feom the date natice is mailtd
<br /> by i;ender 'to Borsower requesting' payment thereof.
<br /> Upon payment in fuU of all sums secured by this Mortgagc. Len�ier sha11 promptly refund to Barrvwer any Funds
<br /> held by Zender, If under paragraph l8 hGreof the Praperty is sold or the N'roperty is otherwise acquired by Lender, Lendor
<br /> shall apply, no later chan immadiately prior to [he sale �f the Property or its acquisition by Lender, any Fueds held by
<br /> Lender at tihc titne of application as a credit against che sums soeured by this M�rtgage.
<br /> 3, Apptication of Yaymeqts. Unless applicable law provicles otherwise„ all payments received by (:ander ander chc
<br /> Note and paragraphs 1 and 2 hareaf shall be apptied by Lendcr 6rst in pa}^ment of am�unts payable to Lencler bg Borrower
<br /> undec paragraph 2 hee�eot. i6en to interest payable on the Nore, then to the principal of the Note, and �hen to intcrest and
<br /> prinaipal on any Future Advances.
<br /> 4. Ch�rgcs; Liens. Borrowee shall pay all taxes, assessmenes a-nd other charge�, fines ancf impasitions aChributabtc tn
<br /> the Froperey which may atCain a priarity over this Mortgage, and leasehold payments or ground cents., if any, in the mannmr
<br /> pruvided undtr paragraph 2 hereot or, if not paid in such manner, by Borrower m'alcing payment, whan due, directly to the
<br /> payee thenof. 8orrower shall pcocnptly furnish co Lender all notices of amourtts due under this paragraph, and in the event
<br /> ' Horrowor shall make payment direcily, �orrower sh�IC promptly farnish e� J.ender receipts evidencing such payments.
<br /> � 8o[tower 3ha11 prompUy dischacge any lien whiih has priority aver this Mortgage; providad, tha.t $orrower shall not be
<br /> rcquicad ro distharge any such lien so long as Borrowee shall agrce in writing to the payment of the obligation secured by
<br /> ; ,' sueh lien in a manner �cceptable to Lender, or ,shall in good faith wntect such lien by, a� defend enfoteemenC �f swch lien in, ,
<br /> legal proceedings whirh opera[e to prevent ohe anEnrcemervt of the lien cir forfeiture af the Froperty or any part ihercof.
<br /> ; S. Hazard Insnrance. Borrower shall kee the im rovements now existin or hercafter erected on the Pro
<br /> p p g perry insured
<br /> againat loss by Sre, hazards induded within the term "extended coverage", and such other hazards as Lender may require ;
<br /> � and in such amounts and for such periods as Lender may' require; provided, that Lender shall not require thai the amount of '
<br /> ' such coverage exceed that amount of coverage reqoired to pay the sums secured by this Mortgage. r
<br /> ' 'IUe insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided, ` :_
<br /> ; that such approval shalt not be unreasonably withheld. AIt premiums on insurance policies shall be paid in the manner
<br /> i provided under paragraph 2 hereof or, if not paid in such manner, b Borrower makin
<br /> y g payment, when due, dimtly to the
<br /> i insurance cazrier. _ „
<br /> ' All insurance policies and renewals thereof shall be in form acceptable to Lender and shall indude a standard mortgage
<br /> � clause in favor of and in form acceptable to Lender. I,ender shall have the right to hold the policies and renewals thereof.
<br /> . ; and Borrower shall promptly furnish to Lender all renewat notices and all receipts of paid premiums. In the event of loss.
<br /> j Borrower shal! give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
<br /> , r by Bonower.
<br /> � Unless Lmder 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 (easiblc and the securiry of this Mortgage is
<br /> � not thereby impaired. If such res[oration or repair is not economically feasible or if the security of this Mortgage would
<br /> r be impaired, the insuraoce proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid
<br /> j , to Borrower. If the Properry is abandoned by Horrower, or if Borrower fails io respond to Lender within 30 days from the
<br /> ; date noGce is mailed by I.ender to Borrower that the insurance carrier offers to setUe a claim for insurance benefits, L.ender
<br /> ' is authorized to collect and apply t6e 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 Lender and Bortower otherwise agree in writing, any such application of procceds to principal shall not extend
<br /> , j or poatpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br /> 1 such installments. If under paragraph 18 hereof tbe Property is acquired by Lender, all right, title and interest of Borrower
<br /> ° in and to any insurance policies aad in and to thc proceeds thereof ruulting from damage to the Propeny prior to the sale
<br /> ; or acquisition shall pass to I.ender to the extrnt of the sums secured by this Mortgage immediately prior to such sale or
<br /> ; acquisitioa.
<br /> > 6. PreaervaKon and Malntenance of Property; Leaseholds; Condominlums; Planned Unit Developments. Borrower
<br /> 't ahall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property
<br /> �-�.-� } � and shall comply with the piovisions of any leace if this Mortgage is on a leasehold. If this Mortgage is on a unit in a �
<br /> { condominium or a planaed unit developmmt, $orrower shall perform all of Borrower's obligations under the dedaration
<br /> ; � or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the �
<br /> , ; condominium or planuad unit development, and constituent documents. if a condominium or planned unit development
<br /> ,� ridcr is uecuted by Borrower and recorded together with this Mortgage, the covenants aod agreements of such rider ,' ;
<br /> � shall be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if thc rider °- , ,� ;
<br /> were a part hueof. k
<br /> 7. Protec8on of Le�er'a Secnri If Borrower fails to �
<br /> ty. perform the covenants and agreemenu contained in this � �
<br /> � � Mortgage, or if any action or proceeding is commenced which mnterially affects Lender's intezest in the Property, Y�
<br /> including, but not limited to, eminent domain� insolvency, code enforcement, or arrangements or proceedings i�votving a , � �
<br /> baakrupt ordecedent, then I.ender atL.endeYs option, upon notice to Borrower, may make such appcarances, disburse such
<br /> � sums and take auch action as ia necessary to protect Lender s incerest, induding, but not limited to, disbucsement of `
<br /> , � reasonable attoiney's fees and entiy upon the Property to make repairs. If Lender required mortgage insurance as a .
<br /> K condition of makin the loan secured b this Mort a e. Borrower shall '�` ,
<br /> 8 y g g pay the premiums required to maintain such
<br /> f insurance in e8'ect until such time az t6e requirement for such insurance tcrminates in accordance with Borrowei s and
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