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<br />~4"""';" 0066<17
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<br />.2.
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and ..ree as fnllows:
<br />I. Pay_. of PriIIdpaI ami I...... Borrower shall promptly pay when. due the principal and iIlterest
<br />indebtedness evidenced by the Note, includin8 any variations resultina from changes in the contract rate, and ..other
<br />charges as provided in the Note.
<br />J, FlUIds for Tues and 11II1InIICe. Subject to applicable law or waiver by Lender, Borrower shall pay to LcndcI',.On
<br />the day monthly paymenrs of principal and interest are payable under the Note, untU tho Note i$paid_.~ ..$tJIP
<br />(herein "Funds") equal to onc-twelfth of the yearly taxes and asscmnents (includingCODdominilllDaacl
<br />development assessments. if any) whid! may attain priority over this Mortpae and sroUJld rents OIltbe~
<br />plus one-twelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly premiullll~tI
<br />for mortPlle insurance, if any, all as reasonably estimated initially and from time,to time by Lender 011 the;~C)f
<br />assessments and bills and rea~onable estimates thereof. Borrower shall not be obllaated to make sud1 payments 9fi'\mdl
<br />to Lender to the extent that Borrower makes such paymenlt to the holder of a prior mortg. 01' deed of trust if sud1
<br />holder is an institutional lender.
<br />If Borrower pays Funds to Lender, the Funds shall be held in an,inslitution the deposits or aa:<tURIt of whicltarc
<br />insured or gUllJ'lUlteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply
<br />the Funds to pay said taxes, assessments, insurance premiums and ground renls. Lender may not charse for so lloJcIiIII
<br />and applying the Funds, analyzing said account or verifying and compilinl said assessments and bills, unless Lender pays
<br />Borrower interest on the Funds and applicable law permits Lender to make such a charle, Borrower and Lender may
<br />agree in writing at the time of execution of this Mortgage that interest on the Funds shall be paid to Borrower, and uDless
<br />such aareement is made or applicable law requires such interest to be paid, Lender shall not be required to pay Borrower
<br />any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an annual ac:countill& of the Fuada
<br />showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Fuada arc
<br />pledscd as additional security for the sums secured by Ihis Mortll..e.
<br />If the amount of Ihe 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
<br />taxes, assessments, insurance premiums and ground rents as Ihey fall due, such excess shall be, at Borrower's option,
<br />either promptly repaid 10 Borrower or credited to Borrower on monthly installments of Funds. If the lUROURt of tile
<br />Fllndsbeld.by 1.end.er..s.baJLD.9.I.I1e.sl!f[jei!m.lJ9_!1AUJu.es,1I$S($sme.nt5..im.urllpceprf>.millmS.Al1dllW t
<br />due, Borrower shall pay to Lender any amount necessary to make up the defICiency in one or more payments as Lender
<br />may require.
<br />Upon payment in full of all sums secured by this Morta..e, 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 Ihan immediately prior to the sale of Ihe Property or its acquisition by Lender, any Funds
<br />held by Lender at the time of application as a credit against the sums secured by this Mortg..e.
<br />3. Ap,..ttoB of PaymeBts. Unless applicable law provides otherwise, or unless interest on the Note Is
<br />precomputed, all payments received by Lender under the Note and paragraphs land 2 hereof shall be applied by Lender
<br />nnt in payment of amounts payable to Lender by Borrower under paragraph 2 hereof. Ihen to interest payable at the
<br />applicable contract rate, and Ihen [0 the principal of the Note,
<br />4. Prior M~lIlICI Dee4s of Trust; Cha,.n; (.IeBS. Borrower shall perform all of Borrower's obUlations
<br />under any mortaale, deed of trusl or other security llgH'ement with a lien which has priorilY over this Mort...e,
<br />including Borrower's covenan:s to make payments when due, Borrower shall payor cause to be paid all taxes,
<br />assessments and other charles, fines and impositions llllribulable to Ihe Properly which may allain a priorily over this
<br />Mortlage, lInd leasehold payments or ground rents, if any,
<br />5. Haunll_rallft. Borrower shall keep the improvemenls now existing or hereafter erecled on the Property
<br />insured ..ainst loss by fire, hazards included within the term "exlended coverage", and such olher hazards as Lender
<br />may require and in such amounts and for such periods as Lender may requITe.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject 10 approval by Lender; provided,
<br />thai such approval shall not be unreasonably withheld. All insurallCe policies and renewals thereof shall be in a form
<br />acceptable to Lender and shan include II standard mortg.,e clause in favor of and in a form acceptable to Lender.
<br />Lender shall have the rilht to hold the policies and renewals thereof, subject to lhe terms of any mortg..e, deed of trust
<br />or other security alreement with II lien which has priority over Ihis MOrll!age,
<br />In the event of loss. Borrowtr shall give prompt notice 10 lhe insurance carrier and Lender. Lender may make proof
<br />of los5 if not made promptly by Borrower. '
<br />If Ihe Property is abandoned by Borrower, or if Borrower fails 10 respond 10 Lender wilhin 30 days from the date
<br />nOlice is mailed by Lender 10 Borrower Ihatlhe insurance carrier offers 10 seHle a dltim fof insurance benefits, Lender is
<br />authoriled to collect and apply the insurance proceeds al Lender's oplil1n either to reslOration or repair of the Property
<br />or to the sums secured by this Mortlalte,
<br />6. '""""loll .mI M.ill.....1Ift of ProtKl'1y; 1.".lIellokls; Condomillloma; PI.aNd 11111t Dentopm...ts.
<br />Borrower shall keep the Properly inllood repair and shall not commil waSle or permit impairment or deterioration of Ihe
<br />Property and shall comply wilh the provisions of any lease if Ihis Mortgale is on a leasehold. If this Mortllale is on a unit
<br />in a condominium or II plannlld unit development, Borrower shall perform all of Borrower's Ctbligations under the
<br />__lItlol1 or covenanlS crealing or governing Ihe condominium or planned unit development, Ihe by-laws and
<br />r.lations of the condominium or planned unil development, and constituenl documellls,
<br />7, ,~ of LcriHI<<'I! Securi.y. If Borrower fails to perform the covelllUlls IInd allreements \'Onlained 11\ Ihis
<br />Mort~, or if any a<:tion or proceedinll is commenced which materially .rflxls I,ender's inlerest in Ihe ProperlY, then
<br />L~, lit l.Cflder's option, upon nolke 10 Borrower, may make ",,:h appearances, disburse such sums, indudinll
<br />rCfl1lOR.~ IItlOfMYS' fees, and take such action as Is tI<<:esslIry 10 prlllecl Lcmkr.s interest. If Lemler required n1tl1lllallC
<br />in~anec IIY lit condition of milkinillhe 10lln IIllClIred hy Ihis Mnrlllallc, Borrowcl ,Mil pay Ihe prcmiums rCQuired 10
<br />mainliUn SIKh iIl511UlniC'l: in df.:ct unlil $uch lime IU the lequiremclll fnr sllch insurance (efminlles in accnrdall"c wllh
<br />Borrowff" aJIQ teI'l(SI~r's wrHllm al/.rHmenl or applicloll: IIIW,
<br />Any IllmOUlIls disbllrSlld by tender pur511arllto Ihis parll/l.fllph 7, wilh inlercsllhefC'onllllhe apl'lkllble contfad iate.
<br />shall ~omt ad4ltioll~1 in~bted~55 of Borrower secllled 1>)' Ihls Morrill_illC'. Unless BOflllwer lInd lender IIgrl'e!(' olher
<br />IeI'm" uf P1Iymlllll, sw:h IIl110unls shIll he payable upon tlol,,:c from Lender cn HllIlnwel rI'Queslinlll'lI).menl Ih,'rent
<br />NOlhill1 cootllllloo in this pllrll'lIl'llph 7 ~hlllllfqllil(, Lender In illl'llI IIny esrcnsc III IlIkr 'Ill\ ",!I"" heleunder,
<br />I, IlMtiIMtMti. Lendl11' mft'V makc or "lItISC In I>l' made rClunnllble erlllle' "1"'tl a"tl ,ml'edl"'" ,'I lhe 1""I'ell\,
<br />pro'fidold Ihlll lendl'r dllilllllive ~lIf(lWel tlotin prim In llllY md. II1Sf",,"'ioll 'l't'"f\itl~ .ea"''''I1>''' "'1II't' Ihelt'l'H l'l'lllled
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