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<br />83-1)01311&
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Pa~nt of Prlnelpal aDd 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. Funds for Tues and Insuran<:e, 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 Oile~tweJfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground rents on the Property, if any, plus one, twelfth of yearly premium inSiallments 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 ilnd reasonable C;l;timates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by n 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 imerest Dn the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may ~lgrce 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 he paid. Lender 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 fC?T which each debit to the Funds 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, logether with the fUlUre monthlv installments of Funds payable prior to
<br />the due dates of taxes. a5...\eSSmcnts, insurance premiums and ground rents. shall c-xcced the amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents as they fall due. slh.::h excess. shall 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 by Lender shaH nm be sufficient to pay taxes, assessments. insurance premIUms and ground rent~ as rhey fall due,
<br />Borrower shalJ pay to Lender any amount necessary to make up the dctkicncy within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting paymenr thereoL
<br />Upon payment in full of aU sums secured by this Mortgage. Lender shaH promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph J8 hereof the Property IS sold \n (he Property IS otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Propeny or irs acquisition by Lender, any Funds held by
<br />Lender at the time of application as a credit agamst the sums secured by thiS Mortgage,
<br />3. Applicatioo of Payments. Unless applicable la\\' pHWIJe-S \)therwhc, all payments received by Lender under the
<br />Note and paragraphs I and 2. hereof shall be applied by Lender first In payment of amounts paY~lble to Lender by Borrower
<br />under paragraph 2 hereof. then to interest payabJe on the Note, then to the principal of the Note. and then to interest and
<br />principal on any Future Advances,
<br />4. Charges: Uens. Borrower _"h~lll pay all ta.'\c!lo. a...sesSn1l'nts .md other charges, tines and Impositions attributable to
<br />the Property which may attain a priority over thiS Mortgage. and lea.,,-chold payments or ground rents, if any. in the manner
<br />provided under paragraph 2 hereof Of. if not paid in such manner. by Borrower making payment. when due. directly 10 the
<br />payee- thereof. Borrower shall promptly furmsh (\) Lcnoer all noUCcs oi amounts. due under this paragraph. and in the event
<br />Borrower shall make payment directly. Horroy,~r ...hall promptly furnish In Lc-ndcr receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has. pn~)nty \)\,er this Murtgage-; prOVided. that Borrower shaH not be
<br />required to discharge any such lien so long ,'is Borrower shall agrct: in \\ nlmg 10 the payment l\i the obligation sl.:cured by
<br />such lien in a manner acceptable 10 Lender, or shall In go\.-m failh conh:~1 such lien by, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the eniorcement of the- hen or forfeiture of the Propeny or any part thereof.
<br />S. Hazard IDSIlnIDa. Borrower shall keep the lmprovements ntm c_\.isting or hereaher erected on the Property insured
<br />against loss by fire. hazards. included withm the term "extended covt:ragc". and such other hazards as Lender may require
<br />and if! such amounts and for such periods as Lender may rcqum:: pro\- id-cd. that Lender shall nOI require that the amount of
<br />such coverage exceed that amount of coverage reqUired It) pay the "U01S ...ccured by thiS Mortgage.
<br />The insurance carrier providing the insurance shail be .:hosen by Borro\\ er subject to approval by Lender. provided.
<br />that such approval shall not be unreasonably wIthheld, All premIUms. on insurance policies shall oe paid in the manner
<br />provided under paragraph 2 hereof or, if nOI paid in such manner. by Borrower making payment~ when due, directly to the
<br />insurance carrier.
<br />All insurance poliCIes and rencwa1:i there-Of shall ~ in foml ~ICl.~plablc h.'l Lender and shaH include ~l standard mortgage
<br />clause in favor of and in form acceptable to- Lender. Lender ",hall have the right h' hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish (0 Lender all renewal notH::-e:s and ail receipts \.ll paid premiums. In the event of loss,
<br />Borrower shall give prompt notice to the Insurance carrier and Lender. Lender may make proi.lt of loss if not made promptly
<br />by Borrower,
<br />UnlC;S$ Lender and Borrower otherwise agree in v.-riung. insuralh.:c pr(l~~d~ shall be applied 10 restoration or repair (If
<br />the Property damaged. prOVided such rCslOrauon Of fepair l~ ~\"'l'moml\;aily feaSible and the SC\;Uril)' of this Mortgage IS,
<br />not thereby impaired. H such res.loratlon or repair tS nut \,'(l.lOomu:..t1ly fc-aslhie or If the securlly of this Mortgage would
<br />be impaued. the insurance pr()(;eed~ shaU be applied IO the sums ~ecuretJ hy this Mortgage. with [he excess, if .tOY, paid
<br />to Borrower. If the Property is aband~)lred hy Bornywer. ,-'r if Horn)w~r ti.lib to rcsp~)no to Lender within 30 days from the
<br />date notice is mailed by Lender lO Borrower that the insurance carrier otTers to ~cHle ~t claim for Ifl!lUnlOCC benefits, Lender
<br />is authorized to ('ollect and apply rhe lOsurance prO\.-eeds ~t LewJer's option cllher to restoration or repair of the Properly
<br />or to tbe sums secured by tbis Mortgage.
<br />Unless Lender and Borrower otherwise agree 1I1 "\fHing, any such application of proceeds to prtn~ipal shall not eMend
<br />or postpone the due dale of the monthly in~lallments rderred to in paragraphs I i.lllU 2 hereof or >.:hangc the amount of
<br />such installments. If under paragraph 18 hereof (he ProperlY IS- aC4um:J oy Lender, all nght, titJe and interest of Born1wer
<br />in ;-md [0 any insurance policies and in and to the proceeds th-ereot rcsuhlflg lrom damage to the ProperlY prior to the sale
<br />or acquisition shall pass to Lender to the e.\tent ot the :tUUb :<>tXurcd by th!') Mortgagt:: unmedlRleiy pnor to s.uch sale or
<br />acquisition,
<br />6. PJaervatlon...... M_.......,e uf Propeny, Leaseholds; Condominiums; Planned Unit I>enlopments, Borrower
<br />shall keep the Property in good repair and shall not commit waMe \~r permIt impaIrment or deterioratton of the Propeny
<br />and sbaU comply with the provisions of any lease d ttllS MOClg.age f'-' on a leasch(ll.d. If thi<.j Mongagt: i.. on a unit in ,1
<br />condominium (\f a planned unit development. Borro\A-er ~hOl!l perfnrm ,lit ~)i Borwwer's obligations under th~ dl'Clari11100
<br />or -covenants creating or governmg the c\.mdommJUm or planned lmil deveh'pm~nt the by-laws and regulations iJf (he
<br />condominium or pJanned unit development. and constituent d(xumems. if.a ;,;ondllminium or planned lint! Jevelopmcnt
<br />rider is- executed by Borrower and r~orded h.lgerher wtth thIS Mortgage. the covenilnb and i.lgreem~~nt-S \)1 ..uch rider
<br />s-ball ~ im:o.rponucd into and shall amend an\! supplemc:nt the ~oVcnan1:s olml agreements of thl~ Mortgage ,IS If the rider
<br />were a pari hem:Jf,
<br />7.. Pretectioa 0( iAa4it:r'. Sec:urtty.. If Borrower falls to perfnrm the CllVenan(~ and ;lll;r~m~nts \,'nnhl.incd III thIS
<br />M-onpp:. or If any m::tion or pr-ocee(bng J'\ commenced whICh materially atIech Len~-r\ IJUefC~t in the Property,
<br />iedudt~ but not -limited to. eminent_ domain. tn.''',olveu\:)'. i.,';..ldc cnJon.::emenl. or arrangemenh or pn.w..'eeding~ Involving a
<br />baakrvpl or ~~ thetll-ender ilt Leoder'$ op(lon~ upon notice h' BOTrt;lWer. may make i!luch appearan~cs. di~burse 'lI1.:h
<br />ItamS and take IUCh a(;tton &$ is nm:~)" h)- pr\Hecl Lender'~ mterest, IIM:Juding. but not Iirntted 10. dn,buhcfnt..'Ol \'t
<br />~ a..lOI:neY~-s foea and entry upot1 the Property h-, make reptur-s- ,( Lendcf rcq\Jitt~d mortgag;e in'\unlJln:.' a, .j
<br />COIKbtioft of m". d-.e kxw ,,"ur-c--u by thu MOrtgage. Iloffuwer .$ha-U pay the p.re:mium~ n:"_qwreill to maintam ~u\"~h
<br />iasur;mce in dtcc, tiAttl Mldl u.me """ thf requi-reme-nt h)f" S-W.,:h in'SUf&Oce IcrmHJ3te-s to .Kcordam:e With 8orrow~r'" ,uhj
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