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LTtitt'nasf ('ovFVV,;i, Born,wer and Lender covenant and agree a% follows
<br />indebtedness tee evidenced by the Note, Interest. p Borrower shall
<br />chargesnastlprovided if) the Note
<br />r P > pay when due the principal ri and interest nt the
<br />on any Future Advances secured by this Mortgage
<br />. and the principal of and interest
<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 rnstallmenis 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 met this
<br />Mortgage, and ground rents on the Property, if any, plus onc- twelfth of earl
<br />Pitts one•twclfth of yearly premium installments for mortgage insurance, if anyy II astreasonably espmated hazard initially iand from
<br />umc to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall he held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency I mums ne Lender if fender 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 %o holding and applying the Funds, analyzing said account,
<br />r verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />Mortgage Lender to make such a charge Borrower and Lender map agree in writing at the time of execution applicable
<br />this
<br />�inrtgage that interest on the Funds shall he paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to he paid. Lender shall not he required to pay Borrower any interest or earnings on the Funds. Lender
<br />,hall give to Borrower wr[hout charge an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose tnr which each debit to the Funds was made. The Funds are pledged as Additional security for the sums secured
<br />hp 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 'axe'. A-essments, rnsurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />,,v+essmenr %. insurance premiums and ground rents as they fall they such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. 1( 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 due,
<br />y Lend a 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 this Mortgage. I ender shall promptly refund to Borrower any Funds
<br />held by i_ender. If under paragraph IN hereof the Property w cold or the property ,% ntherwef acquired Borrower
<br />Lender, Lender
<br />shall apply, no later than immediately prior to the ,ale of the Property or its acquisition by Lender, any Funds held by
<br />Lender at the umc of application as a credit against the sums secured by this Mortgage.
<br />3• Application of Payments. Unless payment
<br />a payments received law provides otherwise. all received by Linder under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lender first in paymcnt ll 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 />i. Charges, Liens. Borrower shall pay .ill lair, .is%essmcno .rrtd other ,hArgcs, fines and impositions attributable to
<br />the Property which may attain a priority over thi, Mortgage. and leasehold
<br />Provided under paragraph 2 hereof or. it not paid I such manner, by Borrower Payments payments nr ground rents, if any, m the manner
<br />payee thereof. Borrower eke p shall promptly furnish to ►.ender all ounces of amounts due tinder this paragraph. and in the event
<br />Making paymcnt. when due. directly to the
<br />Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly Discharge any Tien which has priority n %cr this Mortgage: provided. that Borrower shall not be
<br />required to discharge any such hen so long as Borrower %hall agree in ""log r11 the payment of the obligation % ecured by
<br />such lien m a manner acceptable to Lender, of ,hall it, good
<br />legal proceedings which operate to prevent the enforcement aol(hthe nl vn nit for(eiu rc of defend enforcement of such lien in,
<br />s• Hazard Insurance. Borrower shall keep the ' pro cmcnh nov% existing or hereafter erected on the Property insured
<br />y par[ thereof.
<br />against loss by fire, hazards included within the term °extended coverage' and such other hazards as I ender may require
<br />and m such amounts and for such periods as I ender may require provided, that Lender shall not require that the amount of
<br />d th
<br />s;ich coverage exceeat amount of coverage required In pay the sum' sectored hp this M1longage.
<br />The insurance carrier providing the insurance shall be chosen by Borrower suhlect ro approval by Lender: provided,
<br />that such approve! shall not he unreasonably withheld All premiums on insurance policies shall he paid m the manner
<br />provided under paragraph 2 hereof or. J not Caul in such manner, by Borrower making payment, when due, directly to the
<br />rnsurance carrier.
<br />All insurance policies and renewals thereot shall he in form accept,eble to I ender and shall include a standard mortgage
<br />clause m favor of and m form acceptable lo Lender. 1 -ender %hall have the right to hold the policies and renewals thereof,
<br />and Borrower shall promptly furnish to Lender all renewal notice% an,l 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 n( toss d not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in venting. Insurance pnxeed% shall be applied to restoration or repair of
<br />the Property damaged, provided such restorauon or repair is economically feasible and the security of this Mortgage t%
<br />not thereby impaired. If such restoration or repair is not ecunormcai's feavhie or if the security of this Mortgage would
<br />he impaired, the insurance proceeds shall be applied to the sums secured by lh„ Mortgage, with the excess, if any. paid to res
<br />to Borrower. If the Pro erty is abandoned by Borrower, o
<br />(late notice is mailed by Lender to Borrower that the insurance lcarrrier nlTcnsro settle c nd Itaim for n insurance benefits, ender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either a, restoration or re
<br />or to the sums secured by this Mortgage.
<br />Unless Lender and Burrower a Pair of the Property
<br />therwiu agree in writing, any such applcanon of proceed; to principal shall not extend
<br />uch nsptallments�tilf under paragravph 18' hereofrthe Property is it,
<br />acquired by lender all right, title and interest of Borrower
<br />paragraph% I and 2 hereof or change the amount of
<br />in and to any insurance policies and in and to the proceeds thereof resulting tram damage u, the Pm n
<br />or acquisition shall pass to Lender to the extent of the sums secured by th„ Mortgage immediate(
<br />acquisition. l� Y poor c the sale
<br />6. > prior to such sale or
<br />shall keep ttaerpa`perry n goodfrepaireand propertV 1 mmhowds: ondominium; Plannt otdetcDeVelon a ts. Borrower
<br />and shall comply with the provisions of any lease ii this Mortgage r% on ;r leasehold If this Mortgage is on a unit in a
<br />condominium Ira planned unit development. Borrower shall perform all of Borrower's obligations under the declaration
<br />or covenants creating or governing the condonumum or planned unit development, the by -laws and regulations of the
<br />'ondomillium or planted unit development. :rod constituent Dvx'untents If it condom +niuint or planted unit lions tit the
<br />rider us exscufcd by Borrower and tecorded together with This Morigdge, the rovcnants and planned " of such meet
<br />L shall be incorporated into and shall amend and supplernet,i the covenants and agreements of this Mortgage as if the rider
<br />were a earl hereof.
<br />9. ProteeNun of Lender's !Security. If Borrower tails to perfontt the vovenants and agrcemenU contained in this
<br />- Mortgage. or if any action i,r proceeding is commenceit which materially offer's I endeAg interest e tis in the d i nrty,
<br />ncluchng. hilt riot hm led to, emn,enl' domain, insolvency, Bode enforceruent, nr ,err.ut emdet, +
<br />drtkrupt Of levee'•nr. then Lender At 1 ender'% nptmn. ulx +rt rrouce n, Burrower. n,,iv r7taAe wrh vAppearances. loc in disburse such
<br />r •. and take such acteon as is necessary' in proiecr Lender's �nrc•rcer ncr, m � i a r ptcvccedintTS involving a
<br />r a %. >nabJc auorncy s leer and enfry it to Prot-11 u ere re ,, n% F it nor luoited n,, dish
<br />;,hi,n ,,! rneku,• he In; 1 i It I ,der n� i urxentent of
<br />k an uvu «d by this Mnriaa e, Eton ,,. ,,i w"W m „ngage rn%uran%c ,is i
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