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85- 0024.8
<br />Utvt>atus Covetaerrrs. Borrower and Lender covenant and agree as follows;
<br />indebtedness #�� *d � In harm, Borrower shall promptly pay when due the principal of and interest on the
<br />on any Future Advances secured by phis Mortg and late charges as provided in the Note, and the principal of and interest
<br />Mortgage,
<br />to Lender on ter day monthly hl installments of principal and interest are rpayablertinder waiver
<br />he Note, until Lender,
<br />he Borrower Note s 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 />Mut WWge+ slut YOM rents on the Property, if any, plc's
<br />One-twelfth Of Of one - twelfth of yearly premium installments for hazard insurance.
<br />of YeatlY Premium installments for mo rtgage 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 shalt he held in an institution the de
<br />state agency (including posits or accounts of which are insured or guaranteed by a Federal or
<br />iinnnracc g Lender if Lender is such an institution). Lender shall apply
<br />premiums and ground rents. Lender may not charge for so holding an phya guthesFunds, analyzing said account,
<br />or verifying and compiling said assessments and hills, 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 he required to pay Borrower any interest or earnings on the Funds. tender
<br />shelf 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. Tbc 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 />assessment". insurance premiums and ground rents as they fall due, such excess shall be, at Borrowers option, either
<br />Promptly repaid to Borrower or credited to Borrower on monthly installmf Funds. If the amount of the Funds
<br />held by Lender shall not be sufficient to pay taxes, ents o
<br />Borrower shatl pay to !.ender insurance premiums and ground rents as they fall due,
<br />der any amount necessary Io 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 to 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• APlBrallort of Paymen L 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 m 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 />d- Charges- Liew 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 riot paid in such manner, by Borrower making payment, when duce 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 Liver this Mortgage, provided, that Borrower shalt not be
<br />required to discharge any such lien so long its Borrower shall agree in %rtiug to the Payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, or shall in goal 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 pan thereof.
<br />S. Ord Insurance. Borrower shall keep the nnp"wements now existing or hereafter erected on the Property insured
<br />And loss by fire. hazards include) within the tern, "extended coverage', and such other hazards as Lender may require
<br />and in such amounts and for such periods as I..ender may require; provided, that Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage required hp pay the sums secured by this Mortgage.
<br />77a insurance carrier providing the insurance shall he chosen by Borrower subject to approval by Lender: provided,
<br />ProvnW theist such approval shall not ire unreasonably withheld. All premiums on insurance policies shall he paid in the manner
<br />tender paragraph 2 hereof or. J not paid in such manner, by Borrower making payment, when due, directly to the
<br />i=wmwt carrier.
<br />AN insurance polices and renewals thereof shall he in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. I.cadcr shalt have the right to hold the policies and renewals thereof,
<br />Borrower sad Uofrnwar shall promptly furnish to Lender all renewal "ernes and all receipts of paid premiums, in the event of loss,
<br />shall gave prompt notice to the insurance carrier and Lendee. lender may make proof of lass if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, rnsuramc proceeds shall be applied to restoration or repair of
<br />the Property damaged. provided such restoration or repair is economically feasahle and the security of this Mortgage is
<br />mart thereby impaired. if such restoration or repair is riot ccoru mtcally feasible or if the security ai this Mortgage would
<br />be impaired, the insurance proceeds shall be applied to the stuns secured by !has Mortgage, with the excess, if any, paid
<br />Eo Borrower, if the Property is abandoned by Borrower, Lit it Borrower fails to respond to c. with within es i, if from the
<br />notice is o colt by Lender to Borrower that the insurance earner offers to Witte a claim for insurance hcnefits, I.cIn r
<br />is a ii m to collect ®red apply Elio insrrrartce proceeds at Lender's option Bather to restoratrat or repair c of the Property
<br />'� m she mowed by this Mortgage.
<br />U21M Lender and Borrower otherwise agree in writing. any such apphsalFem of pn,ceetis to Principal shall null extend
<br />Of the dux date of the monthly installments referred to In
<br />such
<br />i paragraph, I and 2 hereof or change the amount of
<br />If under paragraph IS hereof the Properly is acquired by fender, 311 right, title and interest of Borrower
<br />im ro my s stce polio and in and to the larnceeds thereof resulting from damage to the Property prior to the sale
<br />Or shall pass to Leader to the extent o[ the sums secured by this Mort It a
<br />Re Immediately prior k+ such sale or
<br />g and Mkilistainessee of PrePti'fyt Lrausbstlft
<br />It disc Property in repair and shall reseal commit wise or • fgasn" Utz f>kv liallnew
<br />t c y with the Provisions; liarmn amPakttcna of Borrower
<br />curadessimm Of red any lease o this Mort detetwrauon of the Property
<br />a p! unit rave g ix of a III leasehold. if this Morlgago is on a emit in a
<br />he nt, Borrower shall perform all ve Borrower i obligations under the declaration
<br />rider Of ruing the n, and C condominium or planned unit alevekapnient, the by-laws and regulations of the coyearser"s
<br />o' ear Md irnh oevel nt, and constilarem documents I
<br />is by Borrower re6aided together with this 44'"121119- a tornolvena ium(i agreements lanned unit devclopmenr
<br />i Into shall and supplement the n+senaio" And agreements of this of such rider
<br />Were ® R Rage as If the riser
<br />i . If Borrower fails ro pre g
<br />IN if any 'Karin or r dorm ilia confect, and agreements ctxnamef in this
<br />lea. israsnt domains iris verac dodehientorcenaenit ..yr,rarrangements,nrnProceedings eet in
<br />the property,
<br />action then I so Its r I islet's opt nn "pun nonce to Borrower, mar make such appearances, drshursc `Lich
<br />man aiad testis anah aciisn as its n ca :pry rb, gsnsfcxt Lender's nrereat ,n.hedmg, r,ua recess 9imared tea, di ®hurscrttenr of
<br />r a s fps and entry k1piti, the Properiv to make re pairs
<br />c of mg the lour assured by his Mort a t if lender required rnoriRage insurance as •,
<br />e ley a Rae, Borrower skill pay the prrrnnims regmrcd lest maintain uiclr
<br />f i,nud satslr sense 3s the iestuirer Fit Por sul,h irasuraracc terminate' :n :accors1a,rocc sxlth la ;,en,esrr's and
<br />I "I M,
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