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<br />83- Utl.t6().2
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<br />UNIFORM CoVENANTS, Borrower and Lender covenant and agree as follows:
<br />1. Paymenl of Principal and Inle...... 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 Taxes and Insuf8l1Ce. 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 ~"Fundsn) equal to one-twelfth 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 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 be paid to Borrower. and unless such agreement is made or applicable law
<br />requires such interest to be 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 for 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, 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, stich 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 shall not be sufficient 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 Borrowe, requesting payment thereof.
<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 i!S acquisition by Lender, any Funds held by
<br />Lender at the time of application as a credit against the sums secured by this 1\.'lortgagc,
<br />3. Applkation of Payments. Unless applicable law provides otherwise, all payments rcceived by lender under the
<br />Note and paragraphs I and 2 hereof shall be applied by Lender first In payment of amounts payable to lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />prineipal on any Future Advances,
<br />4. Charges; Liens. Borrower shall pay aJl taxes, assessments and I-lther charges, fines and Impositions attributable to
<br />the 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 not paid in such manner, by Borrower making payment. when due. directly to the
<br />payee thereof, Borrower shall promptly furmsh to lender all notices "f 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 pfloflty over thIS Mortgage; prOVIded, that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall agree in wfllIllg to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender. or shall in good faith contest such Hen by, i..1r defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the hen \.)r forfeiture of the Property or any part thereof.
<br />s. Hazard losunmce. Borrower shaH keep the Improvements no\\ existmg or hereafrer erected on the Property insured
<br />against loss by fire. hazards included within the term "extended ,,-.overage'., and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may require: provided, that lender shall not require that the amount of
<br />such coverage exceed that amount of coverage required to pay the ..,ltrn~ :-.ct.'ured hy this Mortgage.
<br />The insurance carrier providing the insurance shall be cho~en by Borrower subject to approval by Lender; provided.
<br />that such approval shall not be unreasonably withheld, AU premiums on insurance policies shaH be paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower makmg payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renewals tbereof shall bt: in foml aC\2cptable to Lcm.i.a and shaH include it standard mortgage
<br />clause in favor of and in form acceptable to Lender, Lender shall have the right fl) hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish to Lender all renewal noUC~S ami all receipts of paid pr~miums. In the cvent of loss,
<br />Borrower shall give prompt notice to the insurance carrier and l.ender. Lender may make proot of loss if not made promrt1y
<br />by Borrower,
<br />UnJe.ss Lender and Borrower otherwis~ agree in writing. in.surant.:c pn)..:ecds shall be applied to reslOration or repair of
<br />the Property damaged, provided such restoration or n:pair is cconvmicOlJly feaSible and the security of this Mortgage is
<br />not thereby impaired. If such restoration or repair is not ~~on\.)mi..:ally feasible or if the security of this Mortgage would
<br />be impaired. the insurance proceeds shall be applied to the sums ",<me,l hy th,s Mortgage, WIth the ex<ess, if any, paId
<br />to Borrower. If the Property is abandoned h~ Borrowcr. or Ii Borrow.:r tails to n:~pond to Lender within 30 days from the
<br />date notice is mailed. by Lender to Borrower that the insurance carrier offers (0 ~eltlc it claim for insurance benefits. Lender
<br />is authorized to collect and apply the insurance proceeds at Lenders option citlter 10 restoration or repair of the Property
<br />or to the sums secured by this Mortgage,
<br />Unless Lender and Borrower otheNiise agree to writing. any such application of proceeds to pnncipal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amollnt of
<br />such installments, If under paragraph 18 hereof the Property is acqUIred by Lender, all TIght, title and interest of Borrower
<br />in and. to any insurance policies and in and to (he proceeds thereot resulting from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the extent of the sums s~cured b} this !\lortgage immediately prior to such sale or
<br />acquisition.
<br />6. PleRrvation and Malate_e of PropertJ: Leaseholds; Condominiums; Planned Unit D,,'elopmen... Borrower
<br />shall keep the Property in good repair and shall not commit waste or permn impairment or deterioration of the Property
<br />and shall comply with the provisions of any lease if this Mortgage" L'n a leasehold, If this Mortgage is on a unit in "
<br />condominium. or a planned unit developmem, Borrower shall perform all of Borrower's obligations under the declaration
<br />or -covenants Cleating or governing the condominium or planned unit development. the by.laws and regulations of (he
<br />condominium. or planned unit development, and constituem uocwncnrs. If a cQnJominium or planned unit dcvelopm.cnl
<br />rider is execu&ed by Borrower and recorded together with this Mortgage, the .;ovenants and agreements of such rider
<br />shall be incorporated into and sba11 amend and supplement the covenants and agreements of this Mortgage as if the rider
<br />were a part hereof.
<br />7.. PRlcedilHt of LeItdetI Security. If Borrower fails to perform the ..:ovenanls and agreem(:nts ....ontained in this.
<br />lItOrtJll&C. Of if any action or proceeding IS commenced which materially alfeelS lender's interesl in the Property,
<br />'inctudina. but not limited to. eminent domain. insolvency, code enforcement. or arrangements or pn.",cedings involving a
<br />hol.nkrupc Of dccedcnl" then Lender at lender's option, upon nOllee to Borrower, may make such appearances, dIsburse su<h
<br />SUQ1$ _ aDd tak."" 1\M:'h attion as it necessary to- protect Lender's !Ole-rest. IOcluJinB.. but not limiled (0, disbursement of
<br />reasonahIo tLtlomoy's fees and entl)' upon the Property to make repairs. If Lender required mortgage insurance as "
<br />conditioD of matu., the loan _ured by thiS Mortiase, Borrower ,hllll pay th. premiums reqUIred tn maintalll slldl
<br />i.oMJtance in cflec:t until such time as the require-ment for" such insuran,-c terOllnates In acc.ordan~~ With BOf"f\'wcr\ and
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<br />Oc. ;.... f ~~,! i~~:
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