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<br />83- 006067
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<br />UNIl'OllM. COVENANTS. Il<)I')'~er and Lender cOvellarilandilJrte~toUows:
<br />1. . PaYment ofPrlnelp.t ~:'I"-. Borrower shan' I)romptly pay when due Ibe prlncil)al of .. andlnleresl. ontbt
<br />iiidcl}~eiS t;\'i~ce;d by tf-.e Ncre, prepayment and -Ia~ t:harge.'< as- provi~ in the Note. 'and the- principal-of-a~_--iDte~ -,
<br />on any Future Advances secured by this Mortgage. .
<br />Z. Fu_ for Tu:...lIIId~ Subject to apl)licable law or 10 a written walve1bx.4ndllr\
<br />10 Lender on lhe day monlhly instaUmentsof principal and interest are l)ayableun(jertheNot~:utltiIJhii
<br />a sum (herein "Funds") equal to. one'twelflh of lheyearly. taxes. arid asses.smenls which '-may' ;attliijf
<br />Mortga.ge, and ground rents on tbeProJ"'ftY, If any, I)lus ono'twelflhofyearly premlulll installments.flil'
<br />J>1usone-twelftb of yeady premium installments for mortgage insurance, If any, all as reasonablyestitllated.i!iffj
<br />time to time,by Lender On the basis of assessments and bills and reasonableestimalesthereot,'/"
<br />The Funds shaU be beld in an institution Ihe deposits or accounts of whic" areinsl.\ted?rguaranl~br
<br />state agency (including Lender if Lender is such an instilution). Lender shall al)ply tbeFfutdS to pay said tSX4lS; ., . ,
<br />insurance premiums and ground rents. Lender may not charge for so hoJding and applying the Funds,~nalyting.~id'a'1'1<'Ul!I,.
<br />or verifying and compiling said assessments and bills, unJess Lender I)ays Borrower Int_on tbel'\liids:ilil!l'al'Pli~t>:lajlt.
<br />permllS Lender to roUt> such a Charge. Borrower and. Lender may agree in writlngal>thetinie.'pr~lltiOl!;:R~::Il!js'
<br />Mortgage thaI inleresl on the Funds shall be paid to Bo~wer, and unless such agreement ism~de>l.\t:apl!li~b~'Ia~i
<br />requires such interest to he paid, Lender shall nol be required 10 pay Borrower any interest or eamjnJlS ()ri}be:l'u".<l8.1f'!~t'.
<br />sball giv,e to Borrower, without charge, an .nnual accounting of the Funds showing credits and debits"td ellie' FUDds'iIld;:ffie'..
<br />purpose for which each debillo the Funds was made. The Funds are pledged as additional securityforlbesurns's!!<illreli'
<br />by this Mortgage. . . , .
<br />If the lll1lODDt of the Funds held by Lender, together with the fUlure monthly installmentspf Fundsl'"yable,l)rJorlo
<br />the due dates of laxes, assessmenls, insurance premium.< and ground rents, shall exceed the amounUeqllir"(j.t,,pay'sll,i(j;~
<br />a5sesunenlS, lIlsurance premiums and ground rents as they fall due, such excess shall be. afBorrower's' opIJOD;ejl~et
<br />pTOlOI)t1y repaid to Barro""r or crediled to Borrower on monthly instaliments of Funds. ICI.he:amountof..the"fitnds'
<br />beId by Lender shall not be sufficient to pay laxes, lWleSStDenls, insmanee premiums and ground renlS' 'as. tbey"'faU'!Iue,
<br />Borrower sball pay to Lender any amount necessary to make up Ihe deficiency witbin 30 daysfromlbe dale noticeismaileli
<br />by Lender 10 Borrower requesting payment therooL
<br />Upon payment iu full of all sums secured hy IhlS Mortgage. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph IS hereof Ihe Property is sold or Ihe Property is otherwise acquired by Lender; Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its acquisillon by Lender, auyFurids held hy
<br />Lender at the lime of application as a credit against the sums secured by this .Mortgage.
<br />3.. AppticatioB of Paymeall. Unless applicable law provides otherwise. aU payments received by lender under the
<br />Note and paragraphs I and 2 hereof shall be apphed by Lender first in payment of amounts payable 10 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 />priocil)a1 on any Future Advances.
<br />4. Ch.ar&es; I..icas. Borrower ~hiill pay all t.~xes_ ~i.ssessrncnt5. and other charges_ fines and impositions attributable to
<br />lhc Property which may altain a pnority over this Mortgage, and leasehold paymems or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof Of. it not paid in such nHlnner. by BOfrO\\o-er making payment. when due, directly to the
<br />pa)'ee thereof. Borrower shaH promptly furnish to Lender ail notlt"Cs of amounts due under this paragraph, and in the event
<br />Borro'Ao-e:r shall make payment dlfectly, Borrower ,hall promptly lurmsh to Lender receipts evidencing such payments,
<br />Borrower shall promptly discharge any lien which has pnowy over thi\ Mortgage: provided. that Borrower shall not be
<br />required to discha~ any such hen so long as Borruwer shall ,i~rce in writing to the payment of the obligation secured by
<br />such HlCD in a manner acceptable to Lender. or ~hall in got'ld fa:lh conlest such lien by, or defend enforcement of such lien in,
<br />legal proceedmgs whjch operate h) pn:\'ent the eoforcemenl 01 the hen or forfeIture of the Property or any part thereof,
<br />s. Huard l~. Borrower shall ~eep the lmprovemcnb rlO\'" c,\i~tmg or hereafter erected on the Property insured
<br />against Joss. by tire. hazards included WIthin the term "extended l..'twerage", ilnd such mher hazards as Lender may require
<br />and In such amounts and for such periods <ti Lender nuy f.:yuire; provided, tha.t Lender shall not require that the amount of
<br />such coverage exceed duu amount of co~erage re'll-ured lo p.ty the- -;unb secured by thIS Mortgage.
<br />The insurance carrier providing lhe insura.nce !>halt be I..:-hosen 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 />provlded under paragl'aph 2 hereof or, If not paid in such manner, by Borrower making payment, when due. directly to the
<br />jO$urance carrier.
<br />AU insurance policies aJld rene\loals. theIe~-,t shall ~ In form .lcceptabk [0 Lender anti shall include a fot;:mdarJ mortgage
<br />clause in favor of and in form ac~eptable hI L~ndeL Lender ..hall hav~ the right h) hold the policies and rcn~wals thereof.
<br />and Borrower mat! promptly fltfIllsh to Lend~r aU ren!::","-dl nOlices and :all receipts of paid premiums. In the ev~nt of loss,
<br />Borrower shall give prompt notice to the insurJ.n~e carnc:r !.tuo l.ender. Lend~r m..y make prool of loss if not made promptly
<br />by Borrower_
<br />UnIeN Lender and Borrower O(hef'ft'l~ agn:c- in \\ ritmg, insuranl,:e proceeds shall be applied to restoration or repair of
<br />the PrOpcMY d.amaaed~ proVided s.uch restoration or n:palr IS. econom.ically feaSible and I he security of this Mortgage is
<br />not tbereby impaired. It such restoration or repair is not ccononllcally i~as.ible or if the s.e(:uriIY of this Mortgage would
<br />be impaired. the insurance proceeds. shalt be J.pphed to the sums secured by lhls Mortgage, with the excess, if any, paid
<br />to Borrower. Ii the Property J:'; aband.mei1 h~ Horrower. Of iI Borrower falls to responu to Lender within 30 days from the
<br />date notice is. mailed b\o' Lender to Bcrn..lw~r that the insurance ~arrier otTers to M::ule a claim for insuranc~ benefits. Lender
<br />is authorized to collect and apply the insurance proceeds .Il Lender's option eIther to restoration or repair (If the Property
<br />or to lhe iWDS secured hy Ihis Mortgage.
<br />Unless.l.ender and Borrower otherwise agree In 'J.riung, an)' such application of proceeds 10 pnncipal shaH not extend
<br />or pottpone tbe due date of the monthly ins.tallments referred to in parag.raphs I and 2 hereof Of change the amount of
<br />s@ins.tallmenb.. Ji under paragraph 18 hereof the Property is acqlmed hy Lender, all right, title and interest of Borrower
<br />in .and. to any insurance policies and in aod to the proceed:) thereot resultu\g from damage to the Property prior to the sale
<br />or acqulsition sbaH paiS 10 Lender to the eAtent of the ~ums secured by thl> Mortgage immediately prior [0 such sale or
<br />acquisition.
<br />6.. PfoeaeIvadaa u.d ~taUdenance of Propeny; Le-awbolds; Condominiums; Planned Unit Devt!Jopments. Borrower
<br />lbaU keep the Propc.rt)' in good repair and shall not commJt waste or permit Impairment or deterioration of the Property
<br />and .sbalJ comply with the proviSJQns of any lease .if th!s !\,'longage IS on a leasehQld, If this Mortgage is (Hl it unit in a
<br />condominium or a planned unit developmen1. Borrower .shall perform aU oC Borrower's obhgauons under the declaration
<br />or coveoants c;reatm, or gOVetDJllg the condomlOium or planned unit development, the by-laws and regulations \lr (he
<br />condominium or plan.ocd unit development. and COnSlltUCtll documents_ It a i.::ondominium or planned unit development
<br />rider is ~ted. by Borrower ,and. re<<1fdcd toge.ther wuh this Mortgage. the cQvenants aud agreements of s.uch rider
<br />1baIlbt .~aled into and sb.1l atlWnd and s"ppl<me.n. the .ovenanl. and agreeme.nts ,)f IhlS Mortgase as if Ihe rider
<br />"'_ apart htlll'Of.
<br />7. ~ of ~ 5<<......,... if RONo\\-i:.r fail.'$ to ~tf(1rm the covenanls and agreements .;:ontained in this
<br />~ or if any action or ptocecdin& jA c-omnum.~d which materially atlCl;:h; Lender's intereit in the Properly.
<br />~ but nat', funitod to, ~incnt domain. in:sofv-ency. code enforcement. or arrangements or proceedings: involving a
<br />~ptOl d<<.~. t~ 1~ lit Lendcr'll D-ptlon, UP."Ifi o("'ltke 10 Borrower, may make su~h appearanCeii. di$burse ~\lch
<br />.,....'dd.tM. ~h' Ktion U- II ~y tQ pc()tC\l't Lf:ude.r'! mterest., lncludmg, but not limited to, JlsbUnenl~-Il1 of
<br />.........WO allOl1ltl)". f_. ..m OIl.ry upo.>> tbe PrQpelty to make .ep.".. 1I Leurie. re<juire.! mortgage insurance as ;j
<br />~"t .... th!:. luati .'\!fed I>y tb.. Ml>I1l1...., Born,wer.hall pay lbe premiums reqUIred lO m.in..,n su<h
<br />b.._~ m ~ lUttia litK:b tit:tie ll.. tbe- tcqUUel'JlCmt fol' '!Ouch in;.urance lerm-matel\ in .\t'C\'\rdance with B~)rtower's 3.l\Q
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