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85-- 001770 85-- -001547"
<br />UNIFORM CovENeNra. Borrower and Lender covenant and agree as follows:
<br />I. Payoteaf of Principal and hweresL Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as in
<br />provided the Note, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />_' Fads for Tawas alai laweace. 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
<br />are payable under the Note, until the Note is paid in full,
<br />a slum (herein one-twelfth umda'� equal to one-twelfth of the
<br />Mortgage, taxes and assessments which may attain priority over this
<br />ortgal�. and ground rents on the Property, if
<br />any. Plus 000-twelfth of yearly premium installments for hazard insurance,
<br />Plus ons"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
<br />and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits
<br />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 />imurance premiums and ground rents. Lender may not for
<br />charge so holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless Leader pays Borrower interest
<br />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
<br />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 Borrower interest
<br />pay any 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
<br />made. The 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 des dates of taxes, issasments, Insurance
<br />premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />meats, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />prampdy repaid to Borrower or credited to Borrower on monthly installments
<br />of Funds. If the amount of the Funds
<br />held by lsoder shall no be awfficieat 10 pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower shall Pay to wader any amount
<br />necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lewder 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 IS hereof the Property
<br />is sold or the Property is otherwise acquired by Lender, Lender
<br />plan 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
<br />as a credit against the sums secured by this Mortgage.
<br />3. APpiieadon of 1*0seass, Unless applicable law provides otherwise,
<br />all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall be applied by Lender first in payment ofamounts payable to Lender by Borrower
<br />under Paragraph 2 hereof, then to interest
<br />payable on the Note, then to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Charm LJm& 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 if
<br />ground rents, 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
<br />all notices of amounts due under this paragraph, and in the event
<br />Borrower 1W 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;
<br />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, in
<br />or shall good faith contest such lien bv, or defend enforcement of such lien in,
<br />legal Proceedings which operate to prevent the enforcement
<br />of the lien or forfeiture of the Property or any part thereof.
<br />S. Heisard L viname, Borrower shall keep the improvements now
<br />existing or hereafter erected on the Property insured
<br />against bee 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
<br />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
<br />providing the insurance shall be chosen by Borrower subject to approval by Lender, provided,
<br />that rsch approval shall not be unreasonably withheld. All
<br />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
<br />in -rams wry. making payment, when due, directly to the
<br />All insurance pollees and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the
<br />policies and renewals thereof,
<br />and Borrower dull 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 Lender.
<br />and Lender may make proof of lass if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such
<br />restoration or repair is economically feasible and the security of this Mortgage is
<br />WX thw"Y impaired. If such restoration or repair is not economically feasible or if the security of this Mortgage would
<br />be impaired, the insurance shall be
<br />Proceeds applied to the stuns 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
<br />date
<br />within 30 days from the
<br />mohsa is mailed by Leader to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
<br />is authorized to collecct and apply the insurance
<br />proceeds at Lender's option either to restoration or repair of the Property
<br />Of is 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 />Of POOPMW the due data of the monthly installments referred to in paragraphs 1 2 hereof
<br />and or change the amount of
<br />suet installments. If trader paragraph 18 hereof the Property is sequireJ by Lender, all right, title and interest of Borrower
<br />rn and 10 any insurance policies and in and to
<br />the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acquisition shrill pass to Lender to the extent of the suits secured by this Mortgage immediately
<br />prior to such sale or
<br />g` Praaervaslaa sad Mttriateartnce of Propery; LeaseAoddst COademimhun"; Planned Uodt Developments. Borrower
<br />sia8 the Property in good repair and shall not commit
<br />waste or permit impairment or deterioration of the Property
<br />and sbta3l tidy wkh the proveions of any lease if this Mortgage is on a leasehold, It this Mortgage is on a unit in a
<br />or a planned unit development. Borrower
<br />shall perform all of Borrower's obligations under the declaration
<br />or covenants creating or governing the condominium or planned unit development, the bylaws and regulations of the
<br />condominium or planned unit development, and constituent documents.
<br />If a condominium or planned unit development
<br />rider is.Iaeuted by 0091VIrr and recorded together with this Mortgage, the covenants and agreements of such rider
<br />be asad i and 01" amead and supplement the
<br />covenants and agreements of this Mortgage as if the rider
<br />e a pars
<br />7. lFsMrlsedaa ei Ladess Seeauf4• If Borrower fails to perform the covenants and agreements contained in thid
<br />Mortgage- Of B SAY action or proceeding is commenced which materially affects Lender's interest in
<br />TM
<br />the Property,
<br />but " limited to, counent domain, insolvency, code enforcement, or arrangements or proceedings involving a
<br />ruPt or decederst, Theo Lender at Lender's option, upon notice to
<br />;
<br />sussit Borrower, may make such appearances, disburse such
<br />rated taks such assign r ts necessary to Protect Lender's interest, including, but not limtecl ter, disbursement of
<br />re u y's leas and angry upon the Property to make
<br />r 1
<br />repairs. If bender required mortgage insurance as a
<br />4-ondition of making the loan w&ured by this Mortgage, BarrOWcr shall pay the
<br />pnernrunrs reyurred to roakntarn such
<br />rrsufsme in effect until such urns as the rBquirement for such rnsufsnce terminates in accordance with Borrower's and
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