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<br />83- 001209
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<br />UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows: .
<br />1. Pllyment of PrIoeIpaI aed IDlerest. 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. Funds fOl' T_ IlDd r-mu.ce. 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 fulI,
<br />a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may altain priority over this
<br />Mortgage, and ground rents on the Property, if any, plus one-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 time by Lender on the basis of assessments and bills and reasonable estimates thereof,
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender 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 so holding 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 Lender may agree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall he paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lende, shall not be required to pay Borrower any interest or earnings on the Funds, Lender
<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 Funds was made, The Funds are pledged as additional security for the sums secured
<br />hy this Mortgage,
<br />If the amount of the Funds held hy 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 />assessments. insurance premiums and ground rents as they fall due, such excess shaH be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds, If the amount of the Funds
<br />held hy Lender shall not be sullicient 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 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereoL
<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 18 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 lime of application as a credit agamst the sums secured by this Mortgage,
<br />J. AppIicatIoa of Payments. Unless applicable law provides otherwise, all payments received by Lender under lhe
<br />Note and paragraphs I and 2 hereof shall he applied by Lender firsl in payment of amounts payable 10 Lender by Borrower
<br />under paragraph 2 hereof. then to interesl payable on the Note. then to the principal of the Note. and then to interest and
<br />principal on any Future Advances,
<br />4. Charces; Lieas. Borrower shaH pay ,ill taxes. assessments and other charges. fines and impositions attributable to
<br />lhe 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 nol paid in such manner, by Borrower making payment, when due, directly to the
<br />payee thereof, Borrower shall promptly furnish to Lender all nouces 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 priorit}' over this Mortgage: prm'ided, that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall agree in writmg to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender. or shaH in good faith contest such lien by, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcentent of the lien or forfeIture of the Property or any part thereof.
<br />s. Hazard.lnsu.rance. Borrower shall keep the improvements noVo existing or hereafter erected on the Property Insured
<br />against loss by fire. hazards included within the term "extended coverage", and such other hazards as Lender reay require
<br />and in such amounts and for such periods as Lender may require; provided, that Leoder shall not require that the amount of
<br />such coverage exceed that amount of coverage required to pay the sums se-eured by {hiS Mortgage.
<br />The insurance carrier providing the insurance sball be chosen by Borrower subject to approval by Lender: provided,
<br />that such approval shall not he unreasonably withheld, All premiums on insurance policies shall be paid in the manner
<br />provided under paragrapb 2 hereof or, jf not paid in such manner, by Borrower making payment, when due. directly to the
<br />insurance carrier.
<br />AU insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender, Lender shall have the right to hold the policies and renewals thereof,
<br />and Borrower shall promptly furnish to Lender all renewal nollces and all receipls of paid premiums, In the event of loss,
<br />Borrower shall give prompt notice to the ittsurance catrler and Lender. Lender may make proof of loss if not made promptly
<br />by Borrower,
<br />Urn- Lender and Borrower otherwIse agree in writmg, insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair IS ","'Onomically feasible and tbe security of this Mortgage IS
<br />nol thereby impaired, If such ,estoration or repair IS not economically feasible or If the securllY of this Mortgage would
<br />he impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid
<br />to Borrower, If the Property is abandoned by Borrower, or if Borrower falls to respond to Lender within 30 days from the
<br />date notice is mailed by I...ender to Borrower that the insurance carrier offers (0 settle a daim for insurance benefits. Lender
<br />is authorized to collect and apply the msurance proceeds at Lender's option either to restoration or repair of the Property
<br />or to the sums secured by this Mortgage,
<br />Unless Lender and Borrower otherwise agree m writing, any such application of proceeds to pnnclpal shall not extend
<br />or postpone the due date of the monthly inslallments rclerred to in paragraphs I and Z hereof or change lhe amounl of
<br />such installments, If under paragraph 18 hereof lbe Property IS acqurred by Lender, all right, litle and interest of Borrower
<br />in and.IO any insurance policies and in and to the proceeds thereof resulting from damage to tbe Properry prior to the sale
<br />or acquisition shall pass to Lender to the "'ltent of the sums secured by this Mortgage immediately prior to such sale or
<br />acquisitioo,
<br />6. ................ M.laleauce of Propeny; l.e-"<>hk; Coadomiaiu..... PlaDDed Unit Developmenls. Borrower
<br />siIaIl keep Ihe Property in good repair and sha1l not commit waste or permit impairment or deterioration of the Property
<br />and shall comply with the provisions of any lease if this Mortgage IS on a leasebold, If this Mortgage is on a unit in a
<br />condominium or a planned unil development. Borrower shall perform all of Borrower's obligatIons under the declaration
<br />or CO_IS crealina or governing the condominium or planned unit developmenl, the by-laws and regulations of the
<br />~ or planned unit development, and conslituent docum<:ms. If a condominium or planned lIn1t development
<br />rider i. executed by Ilonower and recorded together wlIh Ihis Mortgage, the covenants and agreements of such nder
<br />siIaIl be jm:orporaled into IlDd shall tunend and supplement tbe covenants and agreements of thIS Mortgage as If the rider
<br />_ a plI(t hereof. .
<br />7. ......... of ~ SectIriQ. If Borruwer tllll. to perform the covenants and agreement. cootained in this
<br />~. or if aoy action or proce~d1ll3 IS commenced which materially atfe.::t. Lender's interest in the Pr"P"rt}.,
<br />~. but not limited to, emioont domain, insolvency, code cnlo"."n",nt, or arrangements or proceeding. invohmg a
<br />~ or dococIIm. theft Lender at Lender'. option. upon ootice to Borrower, m..y m....e .uch appearan~'CS, d..oo= such
<br />_ .... 1$ lUCb lI<ltion as if, _y to prot""t tender'. utternt, IIlduding, but not limited to. dISbursement of
<br />~ _)", lea and entry upon the Property to mllte repall.. If Lender required mortg"", in,urall~'" as a
<br />~ of .lMkillt lbe loan -..red by th.. MOrlll"l", Bort,'WCf shall pay the premiums "'quired to mainlalll ,"ch
<br />iaIun.oce m ~ until sutb Ume "" the requiremenl for s.ucb msurance. tG'rmimuc-s 10 3\,),..."'Ordaoce with Borrower's and
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