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<br />83-f)04406
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
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<br />1. Payment of Principal and Interest. Borrower shall promptly pay when due lhe 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 an.d 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 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 a~'~;sments which may attain ptiority 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 be held in an institution the deposits or accounts of which are insured or guaranteed by a Fedenil or
<br />state agency (including Lender if Lender is such an institution). l.ender 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 tbe Funds was made. The Funds arc pledged as additional security for the sums secured
<br />by this Mortgage.
<br />If tbe amount of the Funds held by Lender. t0gether 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 B0rrower 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 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 Mongage. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Property" SClld or the Propert)' is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Pmperty or its acquisition by Lender, aoy 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 Ptherwb,e. all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be appiJed by Lender first 10 payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the N0te. then to the principal 0f the Note, and then to interest and
<br />ptincipal on any Future Advances.
<br />4. Charges; Liens. Borrower shall pay all ta:\cs. assessments and other charges.. fines and impositions attributable to
<br />the Property which may atlain a priority over this Mortgage. and leasehold payments or ground rents. if any. in the manner
<br />provided under paragraph 2 hereof or. if !lot paid In such manner. by Borrower making payment. when due. directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all notICes 0f amounts due under this paragraph, aod 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 !ien which has pnority over this Mortgage, prcwided. that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shaH .igrce in \\,fjung to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender. \If shall in good faith ..:ontcst sllch lien by, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcement ot the ben or forfeiture 0f the Property or any pan thereof.
<br />S. Hazard Insurance. Borrower shall keep lhe Improvements no\\ (,\''"ling l)f hereafter erected on the Property insured
<br />against Joss by fire. hazards included withm the term "(':\tendcu ":L\VCragc" and \uch other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may rC4uirc; p!'\wided. that LenJcr shall not require that the amount of
<br />such coverage exceed that amount of l:ovcragc reqUired to pay the ...ums 'ocum:d hy this M:ortgagc.
<br />The insurance carrier providing the insurance shall be ~ho~cn by Borrower subject to approval by Lender: provided.
<br />that such appro\'al shaU not be unreasonably \I.:ithheJd. All premIUms (\0 insurance policies shaH be paid in the manner
<br />provided under paragraph 2 hereof or, it not pliud in sUi.:'h manner. hy Borrov...er makmg payment. when due. directly to the
<br />insurance carrier.
<br />All insurance policies and renewals theft\..'l shall he In torm .h.'\,'t,'pt..tbk to Lender ~lfll.l shall iIldudc a sUlnuard mortgage
<br />clause in favor of and in form a,-=ceplable (l..) Lender. Lcnder ~hall ha\l' (he right ld hold [he pulkie.s and re-nc\\'uJs thereof.
<br />and Borrower shall promptly furnish to Lender all renewal nl,)lH.:t.~~ and ,Ill rc~cipb t)! paid premillm~. In the event of loss.
<br />Borrower shall give prompt notice to the inSUC.HlU' ~arri~f anti LcnJcL Lender 11M)" make pn.)l)ll.ll lol:t.s it nl..)t nl.tue promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherWise agrt'e in \\- ritlllg. Ilhur.lIh':t.~ Ph)\"'Cl~d... shall he applied to restoration \.)[ repair of
<br />the Property damaged, provided such rcsh,HatlO[) ,,'r repair b t'~ulltlmi\.'.i.ll) tl.'.tsiblc and the :-;.c\.'urhy of thi~ Mortgage is
<br />not Ihereby impaired. If sUl.:h restoration Of n:.:palC is not c\.'\)!wmiL'ally fL'aslhlc III II the s~i.:'urily of this Mortgage would
<br />be impaired. the insurance proceeus shall be applied l\.) tht: ~ums se~llreJ hy this l\lortgage, with the excess. if any. paid
<br />to BOlTower. If the Property is abandoned hy HOrn)W~I, ,..If It Borr..Y'A.er fad:o. fl~ r~~IXJnJ to Lender within 30 days trom the
<br />date notice is mailed by Lender to Borr\.)wcr that the insurant.:e L~arner nth~r~ to :-cttk a claim for insurance benefits, Lender
<br />is authorized to collect and apply the insuran-.:e proceeds at Lt.:nJer"... llpuon eaher to restoration or repair of the Property
<br />or to the SunlS secured by this Mortgage.
<br />Unless Lender and Borrower othcf\visc agree i11 writing. an~ such i.lpplicatilHl. ()f pw..:~cds to pnnl:ipal ...hall not extend
<br />or postpone the due date of the monthl) in~tallment" fctcried 1,,) in paragraph... land 2 her\.:'l)f or change the amount of
<br />such installments. If under paragraph 18 hereof lhe Prl..)pcrty is a...'\.juircd by Lender. ,Ill Tight, title and interest oi Horro".cr
<br />in and to any insuran~e policies and in ,lnd to the procl..'cds !hcrcol resulting lrl.)m Jama.ge to the Propeny prior to the ~alc
<br />or acquisition shall pass to Lender to the extent of the sum:::. secured b) thIS .\tl)f{gdg~ immedia[cly prior tD ::ouch sale or
<br />acquisition.
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<br />6. Presen'ation and l\1a.iDtemmce of Propert); Leaseholds; C()ndominium~; I)lanned Unit Ue\ elopments. Borrower
<br />shall k.eep the Prope-rty in good r~pair and shaH not I.:onuni[ waste dr permit Jlnpairmcnf or lletcrioratiun of the Property
<br />and shaH campi)' with the prov.isions of any lease If tiw~ .Mortgage !" dl1 ,1 leasehold. If this ~Iortgagi.' i~ on ~\ unit in i.l
<br />condominium or it planned unit developnlcnt, Borro\\er ~hall pcrft.1rm ;dl i,)1 BOrfl)\\I;~(s obllgi.luon::i under the JCl.:'bratll.Hl
<br />or covenants creating or gtwerning the L'Ondl.mlHlium. <-)f pla!lIll:J unit dCH'lupmclll. fhe by- laws and n.:gulalll)n, \)1' the.
<br />condominium or planned unit development. .md conslillll.'nt tkxumcllt:.. If d \.",Hldominium 01' plannt:"u (!llIt ..k\'i".ll.)pmcnl
<br />rider is executed by Borrower aud rel'ord~d together \\lth thl"i !Vh'lrtg~\gc. the I.:'U\CI1i.Hll!J, and agrccmcnb. "j '\uLh nJl;l
<br />shaH be incorporated into and s.hall afilcnd and ')upph:rucnt the l.:o\elJ~Hlb and agrccmcnb \.\1 1hl." t\.h)rtgagc ...l.... Jt' th~ rider
<br />"'ere a part hereof.
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<br />7. Pr()tectlon of Lender.s Security. If Bi.)rrO\\Cf taib 10 rCrf\)fm the covenants and agrl.'cmcnts ...'...mt~\IflcJ in lhl~
<br />,Mortgage. or if an)'. actIon or proct."eding IS 'Comnlt'o('t'd v. hid} m~llcriaUy ul.leds t..\.~nder.~ lnter\.'~t in the Prop~rt),
<br />including.. buC not limited to, eminent domain. insolvcncy, l.:()dc Cf1fon.~~mCHt. tl{" arrang.ements t:\f pn.l~ccdin~~ Invulving a
<br />bankrupt or decedent.. then Lender at Lend"er\. I)ptit.lH, up<.'tf1 noti-ce 10 Bot'ftl\"'u. may m~~kc Slh,'h ,~pl-"\C.ar.JT1\:~~. dl~hur.;,~ ....\I>,.'h
<br />~um~ and take such action as is necc.-s~ary to protC'L'l Lender's ;ntt;rC~f, ltl\....illding. hUI Ill'! 11l111icd hL di,oUfscment l'!
<br />rea.wollhle a.ttorney's, fees and entry t1}."lOH the Prop-eny t.o make rcpnir<.;. if Lender rt.'yuir('d IlhHtgagc ;n"ur;,Hl..:~~ ~p;, ,1
<br />condit.i.(i't:t. of making the loan ~cured by thl~ ~longagc, aorn.)wcr shall pay In..,:: pr;:"IHium!- l\:qwrt:'d t~, n\.i.\lnt;ul! "\tll.:h
<br />insura.ne.e in effect untit ~u~h t.ime a\ the: rC4:~lircmeHt for 'H.H:h In:<surance !("rmm;~tl.'.' ;n :H.~{:l..1rdan-(,..t.' \\/lth RUl [\\\.\"\'1"\ ,l.nJ
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