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a. $5-- 000355
<br />UNIFORM COWN%N7J. Borrower and Lender covenant and agree as follows.
<br />1. Payment of Principal and Interest. Burrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender. Borrower shall pay
<br />to Lender on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full.
<br />a sum (herein "Funds ") equal to one - twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground rents on the Property, if any, plus one - twelfth of yearly premium installments for hazard insurance,
<br />plus one - twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to time by Lender on the 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, assessments,
<br />insurance premiums and ground rents. Le4.der may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bails, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall he paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged 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 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 />assessments. insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall dire,
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Leader to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Mortgage. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph IN hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Lender at the time of application as a credit against the sums secured by this Mortgage.
<br />3. Application of Payments. Unless applicable law provides otherwise. all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall be applied bv,Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 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. Charges; Liens. Borrower shall pay all taxes. assessments 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 not paid in such manner. by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge 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 lien by, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the hen or forfeiture of the Property or any part thereof.
<br />S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against 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 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 earner providing the insurance shall he chosen by Borrower subject to approval by Lender; provided,
<br />that such approval shall not he unreasonably withheld. All premurms on insurance policies shall be paid in the. manner
<br />provided tinder 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 shall he in form acceptable to I -ender and shall include a standard mortgage
<br />clause in favor of and in form acceptable io Lender. Lender %hall hate the right io hold the policies and renewals thereof,
<br />and Borrower shalt promptly furnish 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 Lender Lender may make proof of loss it not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall he applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
<br />not thereby impaired. If such restoration or repair is not economically feasahle nr it 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 hp Borrower, or it Borrower fails to respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier offers io settle a claim for insurance benefits, Lender
<br />is authorized 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 Lender 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 io in paragraphs I and 2 hereof or change the amount of
<br />such installments. If under paragraph 18 hereof the Property is acquired by lender, all right, title and interest of Borrower
<br />in and to any insurance policies and to and to the proceeds thereof resulting from damage to the Property prior to the sale
<br />of acquisition shall pass to Lender to the extent of the sums secured M this Mortgage immediately prior to such sale or
<br />acquisition.
<br />i. Firmirvadissi sod MaiafenaACe of Property; Le holds; 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 shall comply with the provisions of any lease if this Mortgage t% on a leasehold. If this Mortgage I% on a inn in a
<br />coitdommium or a planned unit development, Borrower shall perform all of Borrower's obhgaions under the declaration
<br />or covenants creating or governing the condominium or planned mat development, the hvdaws and regulations at the
<br />,(Yridominturn or planned unit development, and constituent documents If it condamtinium or planned imit development
<br />rider is executed by Borrower and recorded together with this Mortgage, the covenants and agreements of %uch rider
<br />shall be Incorporated into and shall atncnd and supplement the covenants and agreements of this Mortgage as it the rider
<br />wcre a pan hereof.
<br />7. Prowden of Le is 5iecurily. If Borrower fails to perform the covenants and agreements .ontained in this
<br />Mortgage, or if any action or proceeding is commenced which materially affects Lender's interest in the propertv,
<br />ncluding. hilt not limited to, eminent domalr, Insolvency, code enforcement, or ;mtangemeni% or prtxecdinKs involving a i
<br />hankrupt or decedent, then Virrider at tender's option, ipon noice it, Botrower. mgrs make such appearances dishurse such
<br />-. im% and rake such acluin as is necessary io prniect Lender's mierest, mctudinjt, ),tit not holed t,,. -h%hirsemeot of
<br />rcaa<44111ble 'Attorney `s 10014 afnd entity tgn.ur the Properly to mike repans It I miler icyuirrd w origage m+urane as i
<br />.,milotum of snaking the Ivan e"med by lhis Moortgage. Bonc,.+ -ri shall pas the ptrrniumr iequued i, onamt.im .urh
<br />r,suraoce in rffeiI mill ,,4n_h isle is if"!' tequnenaent It" .niii e iriovn, ate, n u ;oudame ovith Bnu, "set 11141
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