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<br />83-1)0178.':-
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal 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. Funds for Tues and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on tbe day monthly installments of principal and interest are p2yable 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 on the Property, if any. plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly pre...ium 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 hills, unless Lender pays Borrower interest on the Funds and applicable law
<br />pennits 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 r:equired to pay Borrower any interest or earnings 0!1 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 eacb debit to tbe Funds was made. Tbe Funds are pledged as additional security for the sums secured
<br />by this Mortgage,
<br />If tbe amount of tbe 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, such exces.... 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 />beld 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 Borrower 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 its acquisition by Lender, any Funds held by
<br />Lender at the time of application as a credit against the sums secured by this ~10rtgage,
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs] and 2 hereof shall be apphed by Lender first m 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 />principal on any Future Advances,
<br />4. Charges; Liens. Borrower shall pay all taxes. assessments and other charges. fines and impositions attributable to
<br />tbe Property whicb 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 furnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Borrower sball make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments,
<br />Borrower shall promptly discharge any hen which has priority over this Mortgage: provided, that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall agree in ,,:ritmg 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 enforcement of such lien in.
<br />legal proceecings which operate to prevent the enforcement of the hen lOr forfeiture of the Property or any part thereof.
<br />s. Hazard Insurance. Borrower shall keep the improvements no\\' existing or hereafter erected on the Property insured
<br />against loss by fire. hazards included within the term "extended coverage", and slIch 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 sums secured by thiS Mortgage.
<br />The insurance carrier providing tbe 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 be paid 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 />insurance carrier.
<br />AU insurance policies and renewals thereof shall be in form a~ceptablc to lender and shall include a standard mortgage
<br />ciause in favor of and in form acceptable to Lender. Lender shall have the right tn 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 Lemler. Lender may make proof of loss if not made promptly
<br />by Borrower,
<br />Vnle,ss Lender and Borrower othef\\'i~e agree in \\Titing, insurance proceeds shall b~ applied to restoration or repnir of
<br />the Property damaged. provided such restoration ur repair is economically feasible and the security of this Mortgage is
<br />not thereby impaired, If such restoration or repair is not C"conomi~ally feasible or if the security of this Mortgage would
<br />be impaired, the insurance proceeds shall be applied to the sunts secured by this Mortgage, wIth the excess, if 'lOy, paid
<br />to Borrower. If the Property is abandoned by Borrower, or it Dorr(lwer fails to respond to lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the insuran~e carrier otTers to sculc a claim for insurance benefits~ Lender
<br />is authorized to collect and apply the insurance proceeds at lender's option eIther to restoration or repair of the Property
<br />or to the sums secured by tbis Mortgage,
<br />Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly instaHments referred to in paragraphs I and 2 hereof or change the amount of
<br />such installments, If under paragrapb 18 bereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />in and to any insurance polk:ies 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 .s~cured by this Mortgage Immediately prior (0 such sale or
<br />acquisition,
<br />6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit De\'elopments. Borrower
<br />shall keep the Property in good repair and shall not commit waste or pelluit impairment or deterioration of the Property
<br />and shall comply with the provisions of any lease if this Mortgage IS on a leasehold, If this Mortgage is on a unit in a.
<br />condominium or a planned unit development Borrower shall perform all of Borwwcr's obligations under (he declaration
<br />or covenants creating or governing the condominium or planned unit development. th~ by. laws and regulations of the
<br />condominium or planned unit development. ilnd constituent oocumcn(s. If a condominium or phmncd unit development
<br />rider is executed by Borrower and recorded together \\'ith this Mortgage. the covenants and agreements \)f sllch rider
<br />shall be incorporated into and shall amend and supplement Ihe covenants and agreements of thiS Mortgage as if the rider
<br />were a part hereof,
<br />7. Protection of Lender's Security. If Borrower fails to perform the covenimts and agreements contained in this
<br />~ortgaaet or if any action or proceeding is commenced which materially affects Lender's interest in the Property,
<br />including, but not limited to. eminent domain, insolvency, code enforcement or arrangements or proceedings involvinb a
<br />bankrupt or decedent.. then Lender at Lender's option, upon notice to Borrower, may make such appearances. disburse such
<br />sums and take such action as is necessary to protect Lender's interest. including, but not limited hJ, disburscmCnl ,,)r
<br />reasonable attorney's fees and entry upon the Property to make repairs, If l.ender required mortgage insurance us a
<br />condition of making the loan secured by lhis MOrlgage~ Borrower shall pay the premiums required to maint~\Il1 stich
<br />insurance in effect until such time as the requirement for such insuranc.c (crminates in accordance with Borrower's anJ
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