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<br />UrriroaM Covt[tv,wrs. Borrower and Lender anrenant and agree as follows: ~Y ~~ U ~~ 1 .15 1
<br />1. Prtytaewf of Pehtcipal sad hshtKU. 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 m the Note, and the principal of and interost
<br />on any Future Advances secured by this Mortgage.
<br />2. Fads for Tate sad htraraace. Subject to applicable law or to a written waiver by 1•ender, Borrower shall pay
<br />to t.eitder on xhe day monthly instaliroents of principal and nnerest are payable under the Note, until the Note is paid in foil,
<br />a stem fhereirt "Fonda") equal to onatwellth of the pearly taxes and assessments which may attain priority aver this
<br />Mortgage, and ground rents on the Property, if any, plus one-twelkh of yearly premium installments for-hazard insurance,
<br />plus one•twetkh of yearly premium installments for mortgage insurance, if any, all as reasoaabty estimated initially and from
<br />time to time by Lender on the basis of assessments and hills sod rtasanable estimates thereof.
<br />7ftc Funds shat! be held in an institution the deposits ar accaunis of which are fvstrrcd ar guarameed by a Federal or
<br />state agency f including Lender if Lender is such an insGtuiionl. tender shall apply the Funds to pay said taxes, assessments;
<br />insurance prcmiurtts and grotmd rents. [.ender may net charge far sa holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and hills, unless Lendtr pays Borrower interest on the Funds and npplicable law
<br />permits Lendtr to make such a charge. Harrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that interest an the Funds shaft be paid to $orrawer, and unless such agrcement is made or applicable law
<br />regaires such interest to be paid, tinder shall net be required to pay Harrower any interest or comings on thrFunds. Lender
<br />shall give m 8arrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose far which each debit u, the Funds was made. 'rhe Funds are pledged as additional security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender, mgether with the htture monthly installments of Funds payable prior to
<br />the dot dates of texts. assessments, msurance premiums and ground rents, shalt exceed the amount required to pay said taxes;
<br />assessments. insurance premiums and ground rents as they fall dot. such excess sfiatl be, at Borrower's option, either
<br />promptly repaid so Borrowtt at u'tdiied ta- Borrower an monthly mstaiimen[s of Funds. If the ataotmt of the Funds-
<br />held by Lender shag not be sufficient fo pay tarts, assessments, msurance premiums and ground rents as they tall due,
<br />Borrower shall pay to (.(rider any amount necessary' to make up the deficiency within 3D days from the-daft notice is maited-
<br />by Leader to Boaownr raquetting payment thertof-
<br />Upon payment m foil of atI sums secured 4y rhrs Mortgage, f-ender shall promptly round to Borrower any Funds
<br />held by trader. Ef under paragraph t>i hereof the Yropeny in said ar the Praptrty rs othtnvise- acquired by tinder, Lender
<br />shag appip, no fatty than immediately pear to the Batt of she Property ar its acquisition by Lender, any Funds held by
<br />Ltndtt at the Write of application as a credit aga:ast tilt soma stcrired by ihts Mangagt.
<br />3. Appiicatbn of Payments. [%nttss applicable taw provides athenvist. all payments received by Lender under the
<br />Note and paragraphs 3 and 2 hereof shall bt applied try Ltrder first m payment :+f amounts payable to Lender by Borrower
<br />under paragraph 2 utreaF. then to mtertst payable on the Trace, ,hen to the. principal of the Note, and then io interest and
<br />principal nn any Furore Advances.
<br />4. Charge; Liens, Barrowtr chalk pay aII tales, :r. tiessments a..d ether crtargts, fines and rmpositians attributable to
<br />tbt Property which may attain a priority ever rhi. Mortgage, and leasehnid payments ar gratmd rents, if any, in the manger
<br />provided under paragraph 2 hereof ar.:t six paid .n st.~:h manner. bs~ Harrower making payment. when due. directly to the
<br />payce thereof. Borrower shall promptly farmsh t„ 1 wader alt noucr;x of amoums dot under this paragraph, and in the event
<br />BOrtawer shall make payment dttretly, Horrew~rr shall prompN~~ tumish tae Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any hen which ?tas prinru}• aver ibis Mortgage; provided, that Borrower shall riot be
<br />required to discharge uny such lien sa tang as Borrower shalt agree in writing to the Rayment aF the abligatian stcurcd 6v
<br />such isen in a manner a.^ceptahft to Iindea, cr she,[ in good faith carats( stir.°lt lien hy, or defend tnfomeWentvf svoh lien in,
<br />legal praGeedings whtclt operate t;> ptevtttt #~let tntaxcemtat a#' the here ar }arleetttrt of the Property ar any part thcrenE-
<br />5. liatard Ittwnnce. Barrawtr shalt kttp the. unprarcmci[ts ncrw existing or hereafter trts_tcd an the Pn)pe[ty insured-
<br />against fuss by fire. hazards mcludecf wuiam [he term ' ester~dcd crsvcragc', anti such ether hazards as Lender may require
<br />and in such amounts soil for ouch periods as l.~eader may requtrc: pravtCltd, that lx--rider shelf oat require that the ainaunt of
<br />such taveragt exceed that amnnnt nl cavcragt eequirsd to pay the sernts stctired by tests i9artgage.
<br />T'hr insurance carrier prav[ding the msuranca shall he cftostn by Bcarrnwtr sub~cct ea approval fay Lendtr, provided,
<br />that such app.-uvaf shall not be unrcasanabfy withhttd. Ail prtnnums on insurance goti¢ies shad be paid in the manner
<br />provided under paragraph Z hereof or, if nc:~ paid in such rnanntr, lay Barrownr inaktng payment, when due, directly to the
<br />inanrat~e carrttr.
<br />AEI insurance pnttctes and renewals rizertat shalt tk- to form atctptablt so iindtr and shag include a standard martgtlgc
<br />clatiae in favor of sod in form a~:ctptable to tinder. Lender stwti have the right tcs hall the policies and renewals thereof,
<br />and Borrower shelf promptly furnish to Lendtr all renewaF nattees and ail rtctipts of paiel premiums. In the even[ of loss.
<br />Barmwer shall give prompt Wallet to the insurance earner sod lender. Lender may make proof of loss if oat made promptly
<br />by Borrower.
<br />Lnless linifer and Batrower otherwise agree m writing, insurance prtxteds shsli tae applied to restoration ar repair of
<br />the Property damaged, provided sui:h etstoratoa ar rapatr is teanomicalty feasible and the security pf this Mortgage is
<br />oat thereby impaired, if such rtstorauuti or repair is not ccoriomicaUy feasible ar if the security at (fits Mortgage would
<br />be impaired, the insurance Rrocucts shall he applied to the sums secured by this Martgagt, with the excess, if any, paid
<br />to Borrewtr. if the Property is abandnmd by Harrower, ar a Borrower fails to respond to Leader within 3D days from the
<br />dale-((alive is mailed ba~ Linder to Borrower that the insuraace carrier afters tci settle a claim far 'insurance bettelits, Lender
<br />is authorized to volErct and apply the insurana'•t procceds at l_cndtr`s option tither to restoration ar repair of the Property
<br />ar so the stints secured by this Mortgage.
<br />Unless Leader and Borrov,•tr otherwise egret in wr rung, any xucft apptivatiun of proceeds to principal shall not extcad
<br />ar postpone the dice date of the monthly installments referred [n in paragraphs t and Z hereof or change the amount of
<br />stark iastaBtsxoo. tf under paragraph 18 hereof the Proptrcy a acquired by Lendtr, sit right, tub and interest of Borrower
<br />in and to aay insuranx poliviea acrd in and to it;t proceeds thereof resulting from damage to the Property prior to the sale
<br />or acquisition shall pass is Lender to test txtenz of the sutras secured by this y}ortgage unmtdiately prior to such safe ar
<br />acgttisiticn
<br />b. PrtiwntrNaa ant Mtratenance of Property( Leasetwids; Ctutifeeinfutnst Planned Utrit Devebptrtenn. Borrower
<br />stud( Lceep the Property in goad repair and ahaB era[ commit waste ar permit impairment ar deterioration of the Property
<br />and shalE comply with the prostistons of any lease if obis Mortgage is on a Etaxthotd. Lf this Mortgage is on x unit in a
<br />condtmttttium or a pianr~ei trait devtloptxtrnt, Barrow=er shall pat#arm alt of Bnrcowera ahtigaiians uadtr the dtciaration
<br />Cu cavartants trearittg or governing dtc vnndomimuizi ar planned unit dtvrlapmtnt, tht by-laws acrd nguiatians of the
<br />rundmniniam or piattnul unit develaptntnt, and emtstuuent dastunems. l; a eandammiunt or planned oral dtvtlapmetst
<br />rifkrs is taecttted by Borrower and recorded mgether uroth rhrs Mortgage. the ctavenants anti agreements +af such r:der
<br />s6at#t tre_zrn^strpolratett into atwl sEtall arittntL and aupplenxnt the eovtnants and agreements of rhrs Mangage as if the rider
<br />wetie a ptpt[ Ltreof.
<br />T, Pttafsella~ a( 1..tr~ttPa.',leenrNy. If Boarnwer faux to perform iht vavtnants and agrttmtnts contained in this
<br />~: ar if any action tar pro[:eeditng is cvmmvn€rd which materially afLtets Lender's interest in the Property,
<br />uk:ludirt~. bat rtcet limitied to, rmirtaxtt iftm[ain, i€tsolvettep, c,'+cte tnfnrcemtnt„ or arrangements ur prixetdinga :nvrtlcing a
<br />tw2Y,ri~p os-daerdsnL itatn ! etidcr at L<tndrt°s npieon, upon nc+tiee to Borrower, may [a}aka Such appearane~ts, dishurst arwh
<br />coals +irstl lake tx![ aaaion as ix tttctsstvy ter pratrct l tadtt~s uittrtst, enciud+np}. bait niu Ircritxed ta, d+atiuraeiittnt ai
<br />rtattlnattle sttarrxY't Errs rti~ entry upon the Propene to make rtparra. l€ Lendtr required nxircgagr insuraact a.. a
<br />Cie niak.,og ttsc loan sseitrCai by t3tts Merrigagt, Btantn+-tr rsiult pay test premiums. rtqutred tut n¢alntam Ruch
<br />tttttirttner ht eReet ucxttf. su«h [iitsr as rtie ttqutrtttutot for xtx:.h ntsurant^r iermmatts in aa~;utxlancs w~itsi Borrower's artd
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