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<br /> Ut�rmoxM CovsNet�rs. Borrower and Lender covenant and agree as follows:
<br /> � 1. PaymenY of Principal and Inhr�st. Borrower shail promptly pay when due t6e principal of and interest on the
<br /> indebudness evidenced by the Note, prepayment and late charges as provided iri the Note, and the principal of and interest
<br /> on any Future Advances secured by this Mortgaga
<br /> Z. Fands tor Ta=ea aad Iosurance. Subject to applicable Iaw or to a written waiver by Lender, Boaower shall pay
<br /> � to I.ender on the day monthly installments of principal and interest are payable under the Nou, un61 the Note is paid in full, _.
<br /> a awa (herein '•Funds'•) equal to onvtwelfth of the yearly taxes and as.ussments which may attain priority over this �
<br /> Mortgage,'and ground nnts on the Property, if any, plus ono-twelhh of yearly premium installmtnts for hazacd insurance, -
<br /> i� plus oao-twelfth of yearly premium instaliments for mortgage inaurance, if any, all as reasonably estimated initially and from
<br /> time to time by Lender on t6e basis of assessments and bills and reasonable estimates thereof.
<br /> The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br /> state agency (including Lender if Lender is such an institution) . Lender shall apply the Funds to pay said taxes, asaessments,
<br /> insurance premiums and ground ttnts. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br /> or verifying and compiling said assessmenu and bitls, untess Lender pays Borrower interest on the Funds and applicable law
<br /> permib Lender to make such a charge. Borrower and Lender may agree in writing at the time oF execution of this
<br /> Mortgage that interat on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br /> ° requines such interest to be paid, Lende� s6at1 not be required to pay Borrower any interest or eamings on the Funds. Lender
<br /> � shatl give to Borrower, without c6arge, an anwat accounting of the Funds showing credits and debiu ta the Funds aad the
<br /> r. purpose for which each debit to the Funds was made. 'fhe Funds are piedged as additional security for the sums securcd
<br /> � � by this Mortgage.
<br /> i If the amount of the Funds hdd by Lendeq together with the future monthly installmenu of Funds 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��•K*+ents, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br /> � ptompdy repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br /> � held by I.ender shall not be sut6cieat to pay taxes, assessments, insurance premiums and ground rcnts as they fali due,
<br /> 3 Borrower shall pay ro I.ender any amount necwsary to make up the deficiency within 30 days from the date notice is mailed
<br /> ' by Lender to Borrowcr requesting" payment thereof.
<br /> Op Upon payment in full of all sums securcd by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br /> ^ held by Lender. If under paragraph 18 hereof the PropeRy is sold or the Property is otherwise acquired by Lender, I.ender
<br /> shall apply, no later than immediately prior to the sale of the Property or its acquisition by L.ender, any Funds held by
<br /> Leader at the time of application as a credit against the sums secured by this Morcgege.
<br /> � 3. ApplicaUoo of Payments. Unless applicable law provides otherwise, ali payments received by Lender under the
<br /> Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payme�t of amounts payable to Lender by Borzower
<br /> under paragraph 2 heroof, 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. Charees; Ideos. Borrower shalt pay all taxes, assessments and other charges, fines and impositions attributable ro
<br /> i: the Property which may attain a prioriry over this Mortgage, and leasehold payments or ground rents, if any, in the manner
<br /> pmvided under paragaph 2 hereof or. if noE paid in such manner, by Borrower making payment, whrn due, dimUy io t6e '•
<br /> x payee ffiereof. Bonower shall prompUy fumish to Lender all notices of amounts due under this paragraph, and in the event + �,
<br /> � Borrower shall make payment directly, Borrower shall promptly fumish to Lcnder receipts evidencing such paymrnts. :
<br /> Borrower s6all promptly disc6arge any lien which has priority over this Mortgage; provided, that Borrower shall not be ' "
<br /> � required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by )' ;`
<br /> such lien in a manner acceptable to Lender, or shall in good faith contest such lirn by, or defend enforcement of such lie� in. {
<br /> legal proccedings which operate to preveat the enforcement of the lien or forfeiture of the Property or any part thereof. ,
<br /> t 5. Ha�rd Insuraoce. Borrower shall keep the improvements now existing or hereafter erecred on the Property insured
<br /> i againat losa by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require P
<br /> '� and in such amounta and for such periods az Lender may require; provided, that Lender shaU not require that the amount of �
<br /> 4 such coverage exceed that amount of coverage required to pay the sums secured by this Mortgage. ,
<br /> _ � 'Ibe inaurance carrier providing the insurance shalt be chosen by Borrower subject ro approval by Lender, provided,
<br /> _: � that auch approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
<br /> provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br /> insurance carrier.
<br /> ` `� All insurance policies and renewals thereof shalt be in form acceptable to Lendcr and shall include a standard mortgage
<br /> � clause in favor of and in form aoceptable to Lender. Lender shall have the right to hold the policies and renewals thereof,
<br /> and Borrower shall promptly furaish to Lender all renewal notices and all receipts of paid premiums. In the event of loss,
<br /> Borrower shall give prompt noUce to the insurance carrier and Lender. Lender may make proof of loss if not made prompUy
<br /> by Borrower_
<br /> Unleae 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 t6e sewriry of this Mortgage is
<br /> not thereby unpaired. If such restoration or repair is not economically fcasible or if the security of this Mortgage would
<br /> :: Y be impaired, the insurance proceeds shalt be applied to the sums secured by this Mortgage, with the excess, if any, paid
<br /> j ' to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
<br /> . '� date nouce is mailed by Lender to Borrower that the insurance carrier oHers to setde a claim for insurance benefits, L.ender
<br /> is authorized to wllect and apply the insuzaace proceeda at Lender's option either to restoration or repair of the Property
<br /> or to We sums secured by t6is Mortgage.
<br /> Ualess I.ender and Bonower otherwise agree in writing, any such npplication of proceeds to principal shall not extend
<br /> or postpone the due dau of the monthly installments refcrred to in paragraphs 1 and 2 hereof or change the amount of
<br /> such installments. If under paragraph l8 hereof the Properry is acquired by I.endcr, all right, tiUe and interest of Borrower
<br /> in and to any insurance policies and in and to the proceeds thereof ruulting from damage to the Property prior to the sale
<br /> or acqaisition s6a11 pass to I.ender to t6e extent of the sums secured by this Mortgage immediately prior to such sale or
<br /> acquitition.
<br /> 6. Pmervation md Maintensnce of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br /> ') s6all keep the Property in good repair and shell not 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 developmen[, Borrower shall perform all of Borrower's obligations under the dedarauon
<br /> or covenants creating or governing the condominium or planned unit devetopment, the by-laws and iegulations of the �
<br /> condominium or planaed unit development, and constiwent documents. If a condominium or planned imit development x
<br /> rider is ezecuted by Borrower and recorded together with this Mortgage, the covenants and agreements of such rider t � '
<br /> k-" aha71 be incorporated iato and shall amend and supplement t6e coveuants and agreements of this Mortgage as if the rider '" �'"= � `;
<br /> � were a part hereof. ,
<br /> ` 7.. Protection of Lende2s Secnrity. If Borrowor fails to perform the covenants and agreements contained in this " � '
<br /> r;s Mortgage, r or if any action- ar proceediag is commenced which materially affccts Lender's interest in the Property, �;� ,;s
<br /> + ' indudiag, ;butnot=limited to;:eminmt 'domalArinsolveacy, cade enForcement, or azrangements or proceedings involving a � � "
<br /> beakrupt or decedenG �en Lmder at Lender's option, upoa notice Yo Borrower, may make such appearances, disburse such ��� � `�
<br /> sums and talce' such action as is necessary to protect Lender's interest, including, but not Iimited to, disbursement of .y.: ,%3,'�, ,, ,
<br /> :easonablr suomey's feea and entry upon the Property to make repairs. If Lender required mortgage insurnnce as a ;;-� 7 - ,;;�
<br /> $ condit"aon of makiag the loan secuced by this Mortgage, Bortower shall pay the premiums required to maintain such '
<br /> Y. � iasurance in eHect unL7 such time aa tde requi�emeat for such insurance terminates in acrnrdance with Borrower's and
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