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<br />83_001656
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<br />UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows:
<br />1. Payment of Princl)lll1l1Dd Interest. Borrower shall promptly pay when due the principal of and inte,est 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 Toes lIDd Inmnmce. 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 altain priority over this
<br />Mortgage, and ground rents on the Property, if any, plus one-twelfth of yearly p,emium 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, Lender shall not be required to pay Borrower any interest Of earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits ro 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 />assessment 'i. insurance premiums and ground rents as they fall due. such excess shall be. at Borrower's option, either
<br />promptly repaid to Borrower or credited 10 Borrower on monthly instaJlments of Funds, If the amount of the Funds
<br />held by Lender shaU not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower shall pay to Lende, 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 ProperlY is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior 10 the sale of the Property 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 law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof sball be applied by Lender fip.>t in payment of amounls 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 />principal on any Future Advances,
<br />4. Charges; Uens. Borrower shall pay all taxes, assessments and other charges. fines and impositions attributable to
<br />the Property which may altain 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 furnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borrower shall promptly furnish 10 Lender receipts evidencing such payments,
<br />Borrower shall promptly discharge any lien which has pnority over this Mortgage: proVided, that Borrower shall not be
<br />required to discharge any such Hen so long as Borrower shall agree in ,,-.riling to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforccment of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof,
<br />5. Hazard Insurance. Borrower shaH keep the improvements no\\' existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended (;overage". and Stich 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 ex.ceed that amount of coverage required to pay t he slims secured by this Mortgage.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender: provided,
<br />that such approval shall not be unreasonably withheld, All premiums on insurance policies shall he paid in the manner
<br />provided undar paragraph 2 hereof or, if not paid in such manner, by Borrower making payment. when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renewals thereof shaH 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 notices and all receipts of paid premiums. In the event of loss,
<br />Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make prool of loss if not made promptly
<br />by Borrower.
<br />Unl~ Lender and Borrower othef\\'ise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
<br />not thereby impaired, If such restoration or repair is not economtcally feasible or if the security of this Mortgage would
<br />be 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 il Borrower fails to respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier fltfCni to settle a claim for insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at Lenders 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 10 writing, any such application of proceeds to principal 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 hy Lender. all right, title and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the extent of the sums secured hy this Mortgage immediately prior to such sale or
<br />acquisition,
<br />6, ~alion lIDd Mainlenance of Property; L~_holds; Condominiums; Plallned Unit Developments, Borrower
<br />shall keep the Property in good repair and shall no' commit waste or permit impairment or deteriora,ion of the Property
<br />and shaU comply with the provisions of any lease if this Mortgage IS on a leasehold, If this Mortgage is on a uni, in a
<br />condominium or a planned unit development. Borrower shall perform all of Borrower's obligations under the declaration
<br />or covenant$ creating or governing the condominium or planned unit development. the by~laws and regulations of the
<br />condominium or planned unit development. and constituent documenls, If a condominium or planned unit development
<br />rider- is executed by Borrower and recorded together with this Mortgage, the covenants and agreements of such rider
<br />shall be incorporated into and sha1I amend and supplement the covenants and agreements of this Mortgage as if the ridel
<br />_ a part hloreof.
<br />7. Pretectlonof Luder's Securily. If Borrower fails to pe,form the covenants and agreements contained in this
<br />Morrgqe, or if any action or proceeding is commenced which materially affects Lender's interest in the Property,
<br />tnclUdi.n.a. buJ not limited to. eminent domain, insolvency, code enforcement, or arrangement.s or proceedings involving a
<br />baDkrupt ordeccdclll, then Lender at Lender's option, upon notice to Borrower, may mllke such appearances, dishurse such
<br />~ and tU~ such action as is -..ry '0 protect Lender's mte'''''t, including, but not limited to, ,hsbup.>emenl of
<br />~ ~y's f_ and entry upon the Property to make ,epairs, If Lender rcquired mortgage insuran~-e as "
<br />cotld.ltion of.mWns the loan secured by Ihis Mortgage, Borrower shall pay Ihe premiums required to maintam such
<br />~ m elect until suc.h time a\ the requirement for such msutance terminates in accordance Wtth Borrower's- and
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