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<br />f 84 ~G0710
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<br />i Unrcattas CovexertTS. Borrower and lender covenant and agree as follows:
<br />- 1. Payweat of Prteeipl and foie-est. 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 />t. ~ on any Future Advances secured by this Mortgage.
<br />2. Faais [or Tnras lead Iwraace. 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 "Fuods'9 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 ono-twelfth of yeazly premium installments for mortgage insurance. if any, all as reasonably estimated initially and from
<br />time to time 6y Lender oo [he basis of assessments and bills and reasonable estimates thereof.
<br />71te 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 nn 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 />requirea such interest to be paid, Lender shall not be required to pay Aorrower any interest or earnings on the Funds. (.ender
<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. l'he 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, imurance premiums and ground rents, shall exceed the amount reyuired to pay said taxes,
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's aption, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installmems of Funds. If the amount of the Funds
<br />held by Lender shall not be stdhcient 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 m full of all sums secured by this Mortgage. Lender shall promptly refund to Borrower any Funds
<br />held by Linder. If under pazagraph 18 hereof the Property s sold or the Property rs otherwise acquired 6y L.ender, Lender
<br />shall apply, no later than tmmediately prior to the sale at 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 thts Mortgage.
<br />J. Applicatim of Payments. Unless applicable law provides atherwise, all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereo( shall be applied by Lender first m payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to tnterest payable an the Nate, then to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Charges; Lkns. Borrower shall pay all taxes. assessments and other charges, fines and impasitions 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 tinder paragraph 2 hereof or, tf not pmd m such manner. by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all notices of amounts clue 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 prority aver this Martgage; provided, that Borrower shag nM be
<br />required to discharge eny such lien sa long as Borrawer shall agree in writing to the payment of the obligation secured by
<br />srtch lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien io,
<br />legal proceedings which operate to prevent the en[orcement of the lien or forfeiture of the Property or any part thereof.
<br />S. Haaard Inwnnrn Borrower shag keep the improvements now existing ar hereafter erected ou the Property insured
<br />against loss by fire, hazards included within the term "extended coverage". anJ such other hazards as Lender may require
<br />and in such amounts and Far such periods as Lender may require: pnwit4d, that Lender shall not require that the amount of
<br />- such coverage exceed that amount of coverage required to pay the ums secured by this Mortgage.
<br />- The insurance cazrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided,
<br />that such approval shall not be unreasonably withheld. Ali premiums an insurance policies shall be paid in the mamter
<br />provided tender paragraph 2 hereaf or, rf not paid in such manner, by Barrower making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance policies and renewats thereat shalt be in form acceptable to Lender and shall include a standard mortgage
<br />- clause in favor of and in form acceptable to Lender. under shall have the right to hold the policies and renewals thereof,
<br />and Borrower shat! promptly furnish to tender all renewal notices and all receipts o[ paid premiwns. In the event of loss.
<br />Borrawer shall give prampt nonce to the insurance carrier and Linder. Lender may make proof of loss it not made promptly
<br />_ by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shalt be applied to restoration or repair of
<br />the Properiy damaged, provided such restoration ar repa¢ is economically feasible and the security of this Mortgage is
<br />not thereby impaired. If such restoration or repair is not ecanomicall}^ feasible ar 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 if Borrower tails to respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier offers to nettle a claim for utsurance benefits, Lender
<br />is authorized [o collect and apply the insurance proceeds ai Lender's aption either [o restoration or repair of the Property
<br />or to the sums secured by this Martgage.
<br />'~, Unless Lender and Borrower atherwise agree to writing. any such application of proceeds to prncipal shall not extend
<br />or postpone [he due date of the monthly installments referred m in paragraphs t and 2 hereof or change the amount of
<br />such installments. If nutlet pazagraph IS hereof the Property a acquired by Lender, elf right, title and interest of Borrower
<br />.sn and to any insurance policies and in and to the proceeds thereof resulting from damage to the Prapeny prior to the sate
<br />or acquisition shad pass to lender to the extent of the sums secured by this Mortgage immediately prior to such sate or
<br />acquisition.
<br />6. Pnuervatltas and Maintenance of Property; leaseholds; Condominiums; Planned Unit I;~evelopmeots. Barrower
<br />shall keep the .Property in good repair and shall not commit waste or permit impairment or deterioration of the Property
<br />and shag-comply with the provisions of any lease it this 4lorigage is on a leasehold. tf this Martgage is on a unit in a
<br />condotnitrlum ar a planned unit iLevebpmem, Borrawer shall pertomt alt of Borrower's abligatians under the declaration
<br />ar caveitanta creating qr governing the candaminium or planned unit development, the by-taws and regulations of the
<br />cxandattiruttm or planned unit dtvtlopmem', and constituent documents. !f a candaminium nr planned emu development
<br />rider rs a;ecutzd by Borrower and recorded together with t}tis Mortgage, ?he .:ovenants and agreements of such rider
<br />snail he. incotporattxfima and shag amend and supplement [he covenants and agreements of this Mortgage as if the rider
<br />- were a pelt hereo#.
<br />'y. -lr#~afsodpn of Ltnder'a Ses:rRily. If Bntrowes falls to psdenn the coven:una and agreements contained in this
<br />Mwtgage, or if any action ar proxtding is cammnneed which matcrialty affects Lender`s interest itr the Pmpeny,
<br />includinY,-hut rant limited to, eminent. dotttairr, instilvettcy, axle enfanemtnt, w arrangements or prcx:etdings invrolving a
<br />battltrupt or riecedent, thou Lender at L.eudat's aption, upon narice to Barrower, may make such appearances, disbut~e such
<br />- sutras. and take auth ac•tian as is tsteessary to protect Lender's mterost, utcluding, bun not limited ta, clisbursentent eel'
<br />reasilrtlrbfr attorneys teas axed entry upon the Praper.y to make rzpaus. If Lender reyuired martgagt insurance as a
<br />- ~fs(¢'iuut of mgikS,ag [hc Inert mitred by this Mottgage. Btxra~wer ahali pay the prrntttums r~s{+urcJ «: nmxintaur sash
<br />tMirrik~.e m c11eC:t nnitl cnfilt tSrne ~{ th4 rtgUrrerntn{ fat Sued xn3FIr8rICC Yefmin5fxts ~_ ~_ ~rA~t ~~ 4;eit Bar,^.;';'::' 9 b.:..
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