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<br />83-001906
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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 wheo 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 Insurance, Subject to applicable law or to a written waive, 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 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 beheld in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency (induding 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 a..... additional security for the sums secured
<br />by this Mortgage,
<br />If the amount of the Funds h;;ld 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 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 tip 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 5c)ld or the Property IS otherwise aC'lUlred 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 t\'1ongage.
<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 shall be applied by Lender first In paymel1l 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 ch;J,rgc~. 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 Of. 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 notu..:cs of amounts due under this paragraph. and in the event
<br />Borrower shall make payment directly. Borrower ...hall promptly furnIsh (0 Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any hen \\'hit,;h 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 \\ fitlng to the payment of the obllgatlon secured by
<br />such lien in a manner acceptable to Lender, or shall in good f<lith conte-st such lien by. or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcemenl of the- hen i.."lf forfeiture of the Property or any part thereof.
<br />S. Hazard Insurance. Borrower shall keep the improvements 0\'1\\ cxisting or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended coverage'.. and stKh other hazards as Lender may require
<br />and in such amounts and for such periods as lender may require: pnwided. that Lender shall not require that the amount of
<br />such coverage exceed that amount (If coverage required to pay the :-UIllS 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 \.\'ithheld. AH premiums \)n 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 />All insurance policies ami renewals thereot shall be in form ..lCccptabk to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lender shall have the right tl..) hold the policies and rcnc\,-'als 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 pr()of of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower othef\\'ise agre~ in writing. lnsuram:c procc~ds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair is ~c\.)nomically kasibh.~ und the security of this .Mortgage is
<br />not thereby impaired. If such restorution or repair is not ~~onomi<.:ally fcasibl~ or if th~ security of this Mortgage would
<br />be impaired. the insurance proceeds shall be applied te> the sums secured by this Mortgage, with the excess, if any, paid
<br />to Borrower. ]f the Property is abandoned by Borrower, or it Borrower fails to respond to Lender within 30 days horn the
<br />date notice- is mailed by Lender to Borrower that the insurance carrier olTers to settle a claim for insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at Lcndcr"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 in '\\Titing. 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 amount of
<br />such installments, If under paragraph 18 hereof the Property is acquired by Lender, all right, title and inlerest of Borrower
<br />in and to any insurance policies and in and to the 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 secur~d by this ~-tortgage immediately prior to such sale or
<br />acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned l)nit De\'elopments. Borrower
<br />shall keep the Property in good repair and shall Dot commit \\'aste or permit 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 <l
<br />condominium or a planned unit development, Borrower :shall perform ail 0f Borro\\er's obligations under the declaratii..)j]
<br />or covenants creating or governing the condominium or phmned unit development. the by-laws and regulations of the
<br />condominium or planned unit development. and constituent documcl1Is. If a conuominium or planned unit development
<br />rider is executed by Borrower and recorded together \\>'ith this Mortgage, the Coycnants and agreements of stich rider
<br />shall be incorporated into and shall amend and supplement the 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 pcrf(lrm the covenant:) and agreements l..'Dntaincd in this
<br />Mongage, or if any action or proceeding is. ...:omm~nccd which materially aIT('cts Lcm.ler's llltert:st in the Properly.
<br />including, but not limited to. eminent domain, insolvency. code cnfon.:ement, \.11" arnlllgemcnts or prncccdings involving a
<br />bankrupt or decedent. then Lender at Lender's option, upon notice tn Borrowt:r. may make such appearances.. dishl.lrse :stich
<br />sums and take such action as is neces.\i.ary to prole....'t l.ender's IIltcrcst. lilduding. but not Jillllted to. disbursement of
<br />reasonable attorney's fees and entry upon the Property to l"llakc repairs. If Lender re'1uirc.d mortgage insuratH:c itS ,I
<br />condition of making the loan secured by !his Mortgage. Borrower shall pay the premiums rcqum:t.! It) maint.alu ~uch
<br />insurance in effect until such time as the requirement for SUdl insurance \crminatl's In ,h'::l'ordam:l' with Born)wcr\ and
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