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85''001647
<br />UNIFORM COVENANiy. Borrower and Lender covenant an4 agree as follows:
<br />indebt payment of Prlaci W a" hd Borrower shall promptly pay when due the principal of and interest on the
<br />edaess 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 />_' I-& hw Taxes sail Imposes. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to lender on the day trtonthly installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a stns (herein Ftu04,) equal to one- twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground rptte on the Ptoperty, if any, plus one-twelfth of earl
<br />plus On"welfth of Yearly Premium imW ments for morn yearly instalments for hazard insurance,
<br />tine to tine by Leader on the basis of gale insurance, if any, all as reasonably estimated initially and from
<br />assepmuents 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 Leader if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments,
<br />inwraoce Premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />ar
<br />Permits Lender to make verifying and compiling said assessments and bills, unless Leader pays Borrower interest on the Funds and applicable law
<br />Mortgage that interest one a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />requires such interest to n the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />shall give W Paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />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. 'llhe Funds are pledged as additional security for the sums secured
<br />by this Mortgage.
<br />U the amount of the Funds held by Leader, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, asseunreau, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />astemp°tk insurance prpoiums and ground rents as they fall due• such excess shall be, at Borrower's option, either
<br />repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Leader shall not be Saftiemt to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower Shall Pay to Lender any amount necessary to make up the deficiency within 30 days from the date y fender to Borrower requesting Payment thereof. notice is mailed
<br />Upon Payment in full Of all auras secured by this Mortgage. lender shall promptly refund to Borrower any Funds
<br />held by Leader. If under paragraph 18 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 />Leader at the time of application as a credit against the sums secured by this Mort
<br />3. Application of gage.
<br />RrgsaWS, Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall be applied by 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 rinci al of the Note, and then to interest and
<br />Principal on any Future Advancer. P 1;
<br />-L ClurgW UML Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
<br />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 tietsof. Borrower shall promptly furnish to Lender all notices of amounts due under this
<br />Borrower
<br />Paragraph, and in the event
<br />�� 511111H Promptly make Payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />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 manna 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 lien or forfeiture of the Property or any part thereof.
<br />S' 1Haeard laimmem Borrower shall keep the improvements now existin6 or hereafter erected on the Property insured
<br />against lase by fire, hazards included within the term "extended coverage"• and such other hazards as Lender may require
<br />NW in such amounts and for such periods as Lender may require; provided, that Lender shall not require that the amount of
<br />such cOVaage exceed that amount of coverage required to pay the sums secured by this Mortgage.
<br />that such Ibs inainoos cannier Providing the insurance shall be chosen by Borrower subject to approval by Lender, provided,
<br />Provided tnda al Shall rtes be unreasonably withheld. All premium on insurance policies shall be paid in the manner
<br />Wnirapb 2 hereof or, if cwt paid in such manner, by Borrower making payment, when dune, directly to the
<br />All
<br />idatraoce catnip'.
<br />maurance polices and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />C16111160 in favor of sand in f� acceptable to Lender. Lender shall have the right to hold the
<br />ind Borrows awl Promptly furnish to Lender ail renewal nmtncea and all receipts of ad Policies ums. and
<br />In the event ohf +loss,
<br />iosnOwp shall save erorrhnt moat to this iamwance carer amt i a, . w-- -_ P P
<br />the Udap Lander and Borrower Otherwise agree in writing• insurance proceeds shall be applied to restoration or repair of
<br />Property . PcoridM such tmtontinn Or repair is economically fusible and the security of this Mortgage is
<br />not thereby impaired. if such restoration be repair u not economically feasible or if the security of this Mortgage would
<br />the tnsuraoca proceeds dud! be applied to the sums secured by this Mortgage, with the excess, if any, paid
<br />to Borrower. if the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
<br />data notice is mailed by L-der to Borrows that the insurance carrier offers to settle a claim for insurance benefits, Lender
<br />to sec collect by" MY wince proceeds at Lender's option either to restoration or repair of the Property
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />a Poppoos the due dale of the monthly installments referred to in paragraphs I and 2 he roof or change the amount of
<br />in i mmtail y itse. If ands paragraph 18 hereof the Property is acquired by I ender, all right, title and interest of Borrower
<br />or acquiiiiiiiiiatia Y uauuraoes Policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
<br />"U pap to Lender to the extent of the suns secured by this Mortgage immediately prior to such sale or
<br />kmP�vproPertYa in a a sh property; L'"`' , Condeaaialamst Planned Usk Dev good repair commit waste or permit ins etion of t Borrower
<br />and tthaB comply with the impairment this deterioration i o[ the Property
<br />� or a plaanaadpro tinions of any Maas if this Mortgage is on a leasehold. !f this Mortgage is on a unit in a
<br />development. Borrower shall Perform all of Borrower's obligations under the declaration
<br />or eowaaots creating or governing the condominium or planned unit development, the by -laws and regulations of the
<br />rids le
<br />coodomisslum d planned unit development. and constituent documents. If a condominium or planned unit development
<br />fid iis a t together with this Mortgage , the covenants and agreements of such rider
<br />upplemsot the covenants and agreements of this Mo
<br />°1"W a PWi hereof• flgage as it the rider
<br />7• fiftmt* � sf Lemons Seism*. If Borrower fails to rfonn the covenants and agreements contained in this Vis
<br />Mortgage, but � m, or Proceeding is commenced which materially affects Lender's interest in the Properly, lit
<br />bankrupt a swiwa domain• insolvency, code enforcement, or arrangements or proceedings involving a
<br />bask saki L then Linda at leOdsr•s option, upon notice to Borrower, MAY make such appearances, disburse such
<br />sums ressepabls artomsyy Pep and entry O��Y to Protset Ixodma nlereat, including, but not limited to, disbursement of
<br />vonditioa of r upon the Property to make repairs. 1( Lender required mortgage insurance 05 a
<br />i � lo 4 unW such �euas the r�uireaept for such n insurance terminates n ccordarnce with r�Borarower�s sand
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