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<br />84 ~ 006286
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<br />UNifORM COVENANTS. Borrower and Lender covenant IInd agree as follows:
<br />I. PIIYlDfilt of Pri~ ad lateral. Borrower shall promptly pay when due the principal and interest
<br />indebtedness evidenced by the Note, including any variations resulting from changes in the contract rate, and other
<br />charges as provided in the NOle.
<br />1. I'm" Iet'Tu. lid I_ranee. Subject 10 applicable law or waiver by Lender, Borrower shall pay to Lender on
<br />the day monthly payments of principal and interest are payable under the Note, umi! the Note is paid in full, a sum
<br />(herem "funds") equal to one-twelfth of the yearly laxes and assessments (including coodommium and planned unit
<br />development/WCSsments, if any) which may attain priority over this Mortllale and ifound rents on the Property, if any.
<br />pillS one-Iwelfth of yearly premium installments for hazard insurance. plus one-twelfth of yearly premium instanmeDts
<br />for mortllqe insurance, if any, alias reasonably eslimated initially ami from lime to lime by Lender on thebuis of
<br />usessments and bills and reasonable t:.itimales thereof. Borrowp,r shall nO! be obligated to make such payments of Funds
<br />10 Lender to (he extent Ihat I!-orrower makes such paymenls to the holder of a prior mongqe or deed of trust if such
<br />holder is an institutional lender,
<br />If Borrower pays funds 10 Lender. Ihe funds shall be held in an institulion the deposils or accounts of wbicll are
<br />insured or guaranteed by a Federal or state ligency (including Lender if Lender is such an institution). Lender shall apply
<br />the Funds to pay said taxes, assessments, insurance premiums and ground rents. Lender may not charge for so holding
<br />and applyinlthe Funds. analyzing said account or verifying and compiling said assessments and bills, unless Lender pays
<br />Borro\Vet interest on the funds and applicable law permits lender to make such a charge. Borrower and Lender may
<br />agree in writing at the time of execution of this Mortgage that interesl on the Funds shall be paid to Borrower. and unless
<br />sllch agreement is made or applicable law requires such interest to be paid, Lender shall not be required to pay Borrower
<br />/lIlY imerest or earnings on the Funds. lender shall give to Borrower, wilhout charge. an annual accounting of the funds
<br />showing credits and debits to Ihe funds and (he purpose for which each debit to the Funds was made. The Funds are
<br />pledged as additional security for the sums secured by this Mortgage.
<br />If the amount of the funds held by Lender, fogether with Ihe future monthly installments of Funds payable prior to
<br />(he due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay 'laid
<br />tues, assessments, insurance premiums and ground renlS as they fall due, such excess shall be, at Borrower's option,
<br />either promptly repaid to Borrower or crediled to Borrower on monlhly inslllllments of Funds. If Ihe amount of the
<br />rundsiIe" ., ;:,l ", ~ ~ ..... -~"~:_;=-.. :~ ;;_u :.....:.:1>. ......:'_..,:...........f~.. i........Qn..-o ....r..nt..urne: anti arnnnLt rPntc A~ rhpv fall
<br />due, Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as L<:nder
<br />may require.
<br />Upon payment in full of all sums secured by this Mortgage, Lender shall promptly refund 10 Borrower any Funds
<br />held by Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by Lender.
<br />Lender shall apply, no later (han immedialely prior to the sale of the Property or its iKquisition by Lender, oy Funds
<br />held by Lender at the lime of application as a credit against rhe sums secured by this Mortgqe.
<br />3. A~lIltiell 0' Paymelllls, Unless applicable law provides olherwise, or unless interest on the Note is
<br />precomputed, all payments received by lender under the NOle and paragraphs 1 and 2 hereof shall be applied by Lender
<br />first jl' payment of amounts pa)'able (0 lender by Borrower under paragraph 2 hereof, Ihen fO intctest payable al the
<br />applicable contract rate. and then (0 rhe principal of the Note.
<br />4. Prior MortPllu nel Deeds of Trusl; CluafllCS; LieBs, Borrower shall perform all of Borrower's obligations
<br />undcf any mortgage, deed of fruSI or nrher security agreement with a lien which has priori I)' over Ihis MortPI'".
<br />inducting Borrower's. ~ovenants to make payments when, due. Borrower shall payor 'ca\ll'f, to be paid all taxes,
<br />as$Cnn:~l1Is and olher charges, fines and impositions auributable (0 the Property which may altain a priority over this
<br />MortP3\ and i_nold payments or ground rents, if allY.
<br />5. Ii 18nt IMllnlnee. Borrower shall keep lhe improvements now existing or hereafter erected on the Property
<br />insured qIli. 'st loss by fire, hazards included within the term "extended coverage". and such other hazards as Lmder
<br />may require!.. ,d in such amount: and for such periods as Lender may require.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by lender; provided,
<br />thai such approval shali not be unreasonably withheld. All insurance policiC5 and renewals thereof shall be in II rom!
<br />ac<<ptable to Lender and shall include a standard mortgage clause in favor of and in a form accepta~ 10 Lender.
<br />Lender shall have the right to hold the policies and renewals thereof, subject to the terms of any mortlll~, deed of IrlUt
<br />or other security illlr<<menl wilh il lien which has priority over this Morlgallle.
<br />111 the event of !OSll, Borrower shall give prompt nolke to the insurance carrier and lender. lender may make p;foof
<br />of los5 if not made promptly by Borrower. .
<br />If Ihe Property is abandoned by Borrower, or if Borrower fails (0 rC5pond to lender within 30 days from tile dale
<br />notice is mailed by lender to Borrower that the insurance carrier oHers to sell Ie a claim fe ~ insurance benefits, Lender is
<br />lIuthorized (0 collecl and apply the insurance proceeds at lender's option either (0 reslOrlltion or repair of the Properly
<br />or 10 the sums secured by this MOrlgage.
<br />6, '~lItioll aH Maift'flIlIIlIU' II' Propt'rty; LI.'lI~lIolds; COl!lllominiums; rlMllCIII VW. ~5.
<br />BorrowCl'dtltll keep the Property in good repair and shall not commit waMe or permit impairment or deteri,lfation of the
<br />PrO'pt'rty IIild 5hlill comply with the provisions of IIny lelue if this Mort{,'IC' is on a leasehold. if this MortPlle is on II unit
<br />in Il condominium Oi a planned lmi! developmen!, Borrower shall perform all of Borrower's obli~lIli{lns under the
<br />,**alion or covelllUll5 creating m Iloverninll Ihe condominium or planned unit development, the b)'-lllwS llnd
<br />r.u1af~ of llle condominium or ~flanned unit developmenl, and consti;ue!11 do<:umenu:
<br />7. ~.~ of ~'s ~Ility. If Borrower fails to perform '.Ile covenants and agreements contained in (hi~
<br />Mort~, or if allY action m pro<:eediilll is commenced which materi'.lIy ",feelS l.ender's interest in the Prupl:rlY, (hen
<br />lemder, at l.emier's option. upon notk-e !o IJorrower, may makp such appearances, disburse ~lIch sums, indudin~
<br />r_I'l.llbW atlmMY5' foom. iilInd lake sw;h ii1iction as is necessary It' (.rolect l.ender's il1ten'S!. II' Lender required ll10rlllillle
<br />iM~rU4ll! Ill! '" comliiion of t1llkinlllhe loan s~ured "y this Mortlallc, Rorrowtlr ~h!lll r,ay the premiums ll:{juited w
<br />maintain mild', insl.lralWc in efrecl umit such time IU !he requirement fOl' met! insllflln,x' terminates in accordance with
<br />IkIfrow.'s llnd Lender's wl'illen qr'~mllnl or II.pplicable Jaw.
<br />Any !lmOdl~ dJsbuned by lllnde~' purSlllllltlo this pliIUlllrllfJh 7. willi 'inlctestthcreolJ ill the ll~lplicllble wlltra,'1 rate.
<br />~h!llU *_lIddieil:lf!lIl! indc'bledllcu of 8orrower ~e,:ured hy this Monllalilc, lJnlell~ Borrower and Lender !l1l1t'<:' 10 olht't
<br />lCl'fllS of P<<Iyl!t$lll, sMdl amuullt~ shill! bl' rllyablr upon nolic,~ from I.emlrr to !Jmrowrr rl'qul'Ming PlIVltlt'nt thereof.
<br />Nlllhlillil <'onllunoo ill Ihi. p;ullll-rllph 7 ,hllU require Lendn 10 Iflna J!1Y e'I"tIUl' ..If take :lnv a\'tinn herennder
<br />I. I~w;m. Lt:n<l4!v "'lilY mill,,, or ':.11'" II' he made leluonahle entnes lIf"'" ,md m'l"t'(!ions ,,' 'h~ l''''l'ell\,
<br />t'\'f~.l'vt.~ ~h~1 tt1f1~t ~tliidt ~t"t' BHuower tH.htk~ prior t.o an", ~u(h 1f1!tI).(;'l'tlon 'I'penfYlnw, f('u\ol1ubte ~'li,111\t'" 1hett."'hH rdalnl
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