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85-000912
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />L Payment of Principal and Interest- Borrower shall promptly pay when due the principal of and interest on the
<br />indebtednesg #videitci`by the Note, prepayment and late charges is provided in the Note, and the principal of and interest
<br />on any Fotore 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 Not 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. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, 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 be 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 Lcndcr, 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 Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by tills Mortgage. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph IS 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 />Note and parragrraphstI and2thereof shall be applied by Lender rfirst inhpaymenlaof amounts payable dto Lender by Borrower by Lender under the
<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 takes .as %essments
<br />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 durectfy. Borrower ~hall 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 wrning to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith context 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 />5. Hazard Insurance. Borrower shall keep the improvement% now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included wnhm the term "extended coverage", and such other hazards as Lender may require
<br />and m such amounts and for such periods its LCrider 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 the insurance shall be chosen by Borrower subject to approval by Lender; provided,
<br />that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof or, of 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 be in form acceptable to Lender and shall include it standard mortgage
<br />clause in favor of and in form acceptable to Lender. 1. Crider shall have the right to hold the policies and renewals thereof,
<br />and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss.
<br />Borrower shat! give prompt notice
<br />by Borrower. to the insurance earner and Lender. Lender may make proot of loss if not made promptly
<br />Unless Lender and Borrower otherwise agree in "rating, 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 Mortgage is
<br />not thereby impaired. If such restoration or repair is not economically feasible or of the security of this Mortgage would
<br />be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, wnh the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrower• or it Borrower falls to respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower 'that the insurance carrier offers to 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 an writing, any, such applic lion of proceeds lO principal shall not extend
<br />Of postpone the due date of the monthly installments referred it, tit paragraphs I and 2 hereof or change the amount of
<br />such installments. If under paragraph Ig hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />in and to any insurance policies and in 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 by this Mortgage immediately prior to such sale or
<br />acquisition.
<br />f. Preaervalbn and Maintenance of Property; Leaseholds; (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 rl this Mortgage as on n leasehold. If this Mortgage is on a unit in a
<br />condominium or a planned unit development, Borrower shall pertorrn all at Borrower's ')litigations under the declaration
<br />or covenants creating or governing the condorrunnim or planned nnit development, the by -laws and regulations of rile
<br />condominium or planned unit development, and constituent documents Ira condominium -1 planned unit lions 01, he
<br />rider is anetuted by Borrower and recorded together wnh this Mortgage, the covellaWs and agreements of such rider
<br />shall be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
<br />L were a part hereof.
<br />9. PrOWtiOn of Leader's Security. If Borrower fads rn perform the covenants and it r••
<br />Mortgage, or if any action ,
<br />( r proceeding is commenced which materially aflects I cnder.ss kinkiest inrithr contained
<br />fry`including, but nest limited to• eminent domain, insolvency, code entnrcernent, or arrangements or pn,cexdings involving a
<br />bankrupt or detedcol, then Lender at Lender's option, upon nonce nr Donower. Wray make such argx (wceedS. s involving
<br />such
<br />%Toms and lake such action as is necessary to protect Lender's uuerest. including, hot n,rt Innucd to. disbursenarnt of
<br />reas<wsblc auonreY'a fees and citify upon the Propeuty to IT ref +,or, It I ender rr,rnircrl nnnrkape insurance es .r
<br />tin <huvrr of milking the loan svklued h% th!s Wrigage. llorrnwct shall I•ay The prru,niil, it'I'mol to nraint +uu w01
<br />Meur, +loco in elfrtt unlit %rich rime .as rhr. tequueinCt (Ill such insurrn,'e N."mr,aW, in 4ofdan.r' wnh Borrower's ,and
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