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<br />83-+t10U3~>"
<br />Untpoant Covennnrs. Borrower and Lender covenant and ngree as follows:
<br />I. Payment of Prhiciptd and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note. and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. Fonda for Tuns and Intunace. 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 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 over this
<br />Mortgage, and ground rents oa the Property, if any, plus not-twelfth of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to 8me 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 acwunts of which are insured or guaranteed by a Federal or
<br />state agency finciuding Lender if Lender is such an institution). Lender shalt apply the Funds to pay said taxes, assessments,
<br />insurance premiums and grotmd rents. Lender may not charge for so balding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and tender may agree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shalt 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 />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 Ponds was made. The 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 Furore 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 />assessments, insurance premiums and ground rents as they fall due. such e.ccess shall be. at Borrower's option, either
<br />promptly repaid to Borrower or credited to Burrower on monthly installments of Funds. If the amount of the Funds
<br />held by Leader shall not be stit&cient to pay taxes. assessments. insurance premiums and ground rents as they fall due,
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 3Q days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment m foil of all sums secured by this Rortgage, !.ender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph IS hereof the Property is sold or the Propern• is otherwise acquired by Lender, Lender
<br />shall appty, no later than immediately prior to the sale of the Prapern• 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. Application of Payments. Unless applicable !aw prov,des otherwise, all payments received by tender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lender firs[ m payment of amounts payable ro Lender by Borrower
<br />under paragraph 2 hereof. then to interest payable nn the More, then to the principal of the Note, and then to interest and
<br />principal an any Futtue Advances.
<br />A. Charges; Liege. Borrower shat! pay aB lases. assessments :rod other charges, fines and impositions uttnbutable to
<br />the Property which may attain a priority over this Mortgage. end leasehold payments or gmuttd rents, if any, in the manner
<br />provided under paragraph 2 hereof or. if not pasd m such manner, b} Borrower making payment, when due. directly to the
<br />payce thereof. Borrower shall promptly furnish to Lender a}1 notices of :,mounts due under this paragraph, and in the event
<br />Borrower shall make payment duectly, Borrower shall promptly turntsh to Lender receipts ev,dencmg such payments.
<br />Borrower shall promptly discharge an}• hen ,which has pnonry over this Mortgage: provided, that Borrower shalt not be
<br />required to discharge any such lien so Tong as Borrower shall agree in ++nung to the payment of the vbhgation secured by
<br />such tiro in a manner acceptable to l~:nder. or shall m good fans contest such lien hp, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcemem of the lien or forfesnire of the Property ar any part thereof.
<br />5. Hazed I~ttrance. Borrower shall keep the ampnn•ements now esssung or hereafter erected on the Property insured
<br />against loss by fire, hazards included withsn the term "extended euverage~~. and such other hazards as !.ender may reyutre
<br />and in such amounu and for such periods as Lender may reytare; prortded, that Lender shalt not reouire that the amount of
<br />such coverage exceed [hat amount of coverage required to pa}' the ,ems secured by [his Mortgage.
<br />The Insurance carrier providing the insurance shaft be chosen by Borrower subject ro approval by Lender: provided.
<br />that such approval shall not be unreasonably withheld. Aii premu,mx on insurance pviiaes shall 6e paid m [he manner
<br />provided under paragraph 2 hereof ot, tf no[ pasd in such manner. by Borrower making payment, when due, dtrectly to the
<br />insurance Barrier.
<br />All insurazrce policies and renewals thereof shah hr ~n form aeceptabte to Lender ,rod shall include a standard mortgage
<br />clause in favor of and in farm acceptable to bonder. t ;rider ,bait have the right to hold the policies and renewals thereof,
<br />and Borrower shah promptly furnish to Lender al) renewal notices and all receipts of paid premums In she event of toss,
<br />Borrower shalt give prompt notice to the insurance earner and Lender. lender may make proof of loss rt not made promptly
<br />by Borrower.
<br />Unseat Lender and Burrower othenvsse agree m wrung, msuranee proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoration ur repair is ecvnamscally ieasthle and the security of this Mortgage is
<br />not thereby impaired. If stub restoraUOn nr repute a nut economscaily scastbte or ~f the security of this Mortgage would
<br />be impaued, the insnraace proceeds shalt be applied to the sums secured h} [his Mar[gage. with the excess, if anY. paid
<br />to Borrower. If the Property is abandoned l:y Burrower. or it Borrower task to respond to Lender wtthm 30 days from the
<br />date notice is mailed by Lender to Borrower that the insurance earner often so seine a claim far insurance benefits, Lender
<br />is authorized to collect and appty the msuranee proceeds at Lenders option either tv restoration or repay of [he Prnperry
<br />or to the sums secured by this hortgage.
<br />Unless Lender and Borrower ~xhen+•ise agree m writing, any such application of proceeds at pnnetpal shalt not extend
<br />at postpone the due date of the ntanthiy installments referred to m paragraphs i amd_ hereof yr change the amount at
<br />srtch irtstalttttcnts. If under paragraph tS hereof the Property es acyuued 6y Lender. tilt right, title trod interest of Borrower
<br />in and to any insurance policies and in and to the prrn.eeds thereof resulting !'rpm damage ui the Property poor to the sale
<br />or aegttisiaon shall pass to Letxfer to the estent of the sums secured hq this D-lnrtgage unmedi¢tety prior to such sale ar
<br />ac4ttisit'.on-
<br />b. Ptgarrftion and Maintenance of Property; Leaseholds: Condominiums: Planned Unit 'Jevelopmcats. Borrower
<br />shall kt:ep the Property in good repair and shall not commit waste or permit smpairmeui or deterioration of the Property
<br />arp3 shall emnply with the provisions of any lease if this Mortgage ss on a leasehold. If this Marteage is vn a unit in a
<br />corsdoritittitun nr a planned unit development, Borrower shall perform oil of Borrower`s ahligatinns under the declarauan
<br />or covenants creating ar gavernmg the condominium yr planned unit daveiapment the by-laws and ragulauans aF the
<br />eoudctmitititnt of planaeci unit devalaptnent, and caastituant dacttmen[s. If a condarninium nr planned unit dcveinpment
<br />ridge is taxoeuisd by Borrower attd recorded together wsth than Mortgage, the covenants attd agreements of such rider
<br />ahail.ba Lircptpora~A into sled shall attxitd and suppkmeat the wtenanis and ugreemenis of this Mortgage ors st thin rider
<br />v,erE n pats turcRtt,
<br />7 IifaN~{aM td Lattuier'a Saetiriry, If Borrower fails to perform the covenants and agreements contained in this
<br />~4 tit IP any aetton or ptoeeeding is commcneed which materfaiRv atlects tender`s ,nierest in the Property.
<br />incitxdiag, brit ittK limited to, cminertt domain, inwiveucy, cads enforcement, or atrsngcments nr presccedings invotvtng u
<br />`pt tit i. thpit Ldttdcr at Lcexlct's aptinn, upon nvisce in Borrmver, may rnakc such appcarance~cs. disburse such
<br />3iV asnlt take- sheik SCitGtt as is iraeessitry t€e pm[eu Lsnder'e sntet'est. stu:ludrng, but na[ limited to. dtstturxement of
<br />riSiRi~ay+'s tees alts! entry uptm the Property to make rcparn. [f t_endei• required ntsmgage insurance as a
<br />c of xrkaiiinj ISM teas aiecured iiy iltix ;v'tditgage, B+arrc+wec shall pay rise premiums requteed to maimain suctE
<br />i#sttira~x in att~i tnt~ such tithe ax the rcquirEtnent for such irtstttattea termfnutes sit acrosdanee watt Bnrn+wer': and
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