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<br />83- 006200
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<br />UNIFORM COVEN,\NTS. Borrower and Lender covenant and agree as follows:
<br />I. Payment of Prine\pal BUd Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note. prepayment ~md !ate 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 In.mrance. Subject to applicable law or to a written waiver by Lender, Borrower shan pay
<br />to Lender on the day monthly installments of principal and inlert.'"St are payable under the Note, until the Note is paid in full,
<br />a sum (herein "Fi.mmU) 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 instaHmei1ts 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 bv Lender on the basis of assessments and biIJs 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 Federal--ot
<br />state agency (including Lender if Lender is such an institution). L~nder shall apply the Funds to pay said {axes, assessments,
<br />insurance premiums and ground Tents. 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 10 be paid. Lender shall n0t 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 debit~ to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums seCllred
<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, insurance premiums. and ground rents. shall exceed the amount required to pay said taxes.
<br />assessments, insurance premiums. and ground rents as they rail due, such excess shall be. at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower 00 monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall not be sufficient to pay taxe'i, 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 aU sums secured by this Mongage. L~nder shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof rhe Property IS -sold or the Proper~/ is otherwise acquired by Lender. Lender
<br />shall apply, no later than immediately prior to the s.ale of the Property or its acquisition by Lender, any Funds held by
<br />Lender at the time oi application as. a credit a~aiosl the sums secured by thiS ]"'-10rtgage.
<br />3.. Application of Payments.. Unless applicable Jaw proVIdes. otherwise. all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lender first In payment of amOUlllS payable to Lender by Borrower
<br />under paragraph 2 hereof. then to mterest payable on the Note. then l\l the principal of the Note. and then to interest and
<br />principal on any Future Advances.
<br />4~ Charges; LIens.. Borrower "h.lli pay all w\e~. ;t~:-;cssmcnts and other l'harges. fines and imposilions attributable to
<br />the Property which may altain a priority over thIS Mortgage. and leasehold payments t1f ground rents, if any. in the manner
<br />provided under paragraph 2 hereof (\r. If nOl pitld Hl ~uch manner, by Borro\ovcr fTli.ikmg payment. when due. directly to the
<br />payee thereof. Borrower shall promptly furOl~h to Lemler all no(u.:cs t"\f amounts t1ue under this paragraph, and in the event
<br />Borrower shall make payment dlrc....lly. Borrower ...hall promptly furnish 10 Lender r~t:cipts evidencing such payments.
<br />Borrower shall prompliy discharge any lien v.hld} has prwnty Iwer this f\.-tortgagc; pmvll.,ietl, that Borrower shall not be
<br />required to discharge any s.uch lien ~o long .1" tlont.\wcr sh<.lJl agrc~ III \Hlung to the paYII1t:nt of the obligation secured by
<br />such hen in a manner ac,,;~ptabk to Lender. t~1 ..hall m !;l)\.)tl tauh contt:..t .suL:h Ii~n by, or defenu ~nforc(ment of such lien in.
<br />legal proccedmgs which o~ratc h) prevent the enton:cment of thc- hcn or forfcllm~ of the Property or any part thereof.
<br />S. Haurd Insurance. Borro"'~r shall keep the Improvcmenb no\\ .:'\istmg or hereafter cnxlcd on the Prope-rty insured
<br />against loss by fire. hazards included wllhm the lCrm "ntendcJ ~nvcrage... anJ sllch other h:lzards as Lender may require
<br />and in such amounts and for ~u(:h pen\.-xl~ a.. Lender may rCttlllf\.'. pr\H-Idcd. that Lender shall not require that the amoul1l of
<br />suo;h coverage ex~eed that amount t.t ,,;uvera~c r~411lred to pay the ~um:,> 'tC(Ufcd by tillS Morrgage.
<br />1be tnsurance carn<r providing [he insufd.n~c ...hall be dlOscn by Borrower subject 10 approval by Lender; provided,
<br />that such approval shall nOl be unrea$onably withheld. AH prcmlllm~ DO insurance policies shall be paid in the manner
<br />provided under paragraph ~ herc-'.ll or, Ii nt)t p<ilJ in ju~h mantlef. hy Borwv.er mak.mg payment. when due, directly to the
<br />insurance carrier.
<br />All insuran~-~ polu.:ie...\ and rcnt:;\\,a.ls theret)! ::ihal! b~ III torm ,i";(l.:pt,tbJc to Lender ,tno shall include a qandard mortgage
<br />clause in favor of and in form a;';i,;cptabk 1(1 Lender. Lender :o.hii.ll hav\O the right w hold the Plllicies dlHl renewals thereof.
<br />and Bornlwer shaH promptly furnish to Lender a.1l r~'nc,",al nOll\..CS <llh.f all rct:cipts of paid premillm~. In the c\;..:nt of loss.
<br />Borrower shall gl\'e pwmpt n\lli~e tl'l the IIl::'Uf.HKI' ..:arncr ill\lJ Lender. Lend~r may make pm\lt 01 loss jf not made promptly
<br />bv Borrower.
<br />. Un1e.ss Lenuer and Borrower othawlSC agree in \\fiI lIlg. msuralH':C pnx:e....Js shall be applied It) restoration or repair of
<br />the Property damagL'u. pW\'IlJeu sUi,;h rC~l\Jratl\,m \lr repair i~ e,:or\ol1ucally feasible and the security of this Mongage is
<br />n01 thereby impaired. If su.:h restoration or repal[ IS 11;,)t l..'l.:\momh.:.llly feal-ihk or it the st:.<.:uruy of this Mortgage wOllld
<br />be impaired. the insuran;:e proc,ecds ~haH be ;tpplied t\) the mills $c..:urcJ by thi::. Mortgage, \',ilh the c\cess, if any, paid
<br />to Borro\\'cr. Ii the l)rvperty is aband\)ned [I) Borr\).....t:r. l'f d HOrrll\\-cr laib ILl rC'~pnnd W Lend....r within 30 days from the
<br />dale noth.:e is mailed by lender to BOffo\\--~r that the llbUf.Hh.:t.' >.:J.rria 0fler~ tD "culc <l claim for IO~Ur3.I1\':c bene-fib. .Lender
<br />is- authorized to collect and .tpply the IOl<turam.:c rr(.\XcJ~ ~tI Lendcr"~ ~)Plli..'1l either to r':$loratlon or repair of the Property
<br />or to tbe SunlS secured by lhis Mortgage,
<br />Unless Lender and BiJrrower otherv.-isc agr~c Hl \\fl!mg, any su.:h Jppli..:.ttion <,[ proceeds to prinCipal shall not extend
<br />or postpone the due date of the monthly in~taUments rderred h) in paragraphs 1 and .2 hereof or change the amount tlf
<br />such installments. If under paragraph 18 hereof the Property is JCl..{lilfCd by Lender. aU right, title anti interest of Borrower
<br />in and to any insurance policies and in and to the pr()~ccds thcn:oi resulting from damage to the ProperlY prior to the ~alc
<br />or acqw~itioo shaH pass to Lender h) th~ c.\tent of the sum~ ~\.~l:ureJ bJ thi:} ;...h)rtg~l.ge illlmedlalely prior to,' such sale or
<br />acquisition.
<br />6.. Presenatioo and Maintenance of Propert).; Leaseholds; ('nudominiums.; Planned Cuit DeH~lopments. Borrow~r
<br />shaH keep the Property in good repair and shall not commit ......asl~ I..lr permit impairment or deterioratwn of the Property.
<br />and shall comply with the provisions uf any least: If thl'i> !\.-hwtgagc I" ~1l1 ;t kaselwlJ. If thb Mortgage i'i \m a unit ill ;.\
<br />condominium or i:l planned unit dc\'eit1pmcnt. Born,\wcr shJ;H pcrhlrm all \)t BOHO\\eI'~ obhgatlon.s under the dccbrati\."\o
<br />or covenants neating or governing the condominium 01' pl~l.nn('"d unit devd~\pm~nt, the by-law~ and regulations (If the
<br />condominium or planned unit development. ilnd cDn~titueIH do..;urm;nh, If a conduminium Of rtmHcd unit Jevdopm.:nt
<br />rlder lS executed by .Borrower and recorded together v..-ith lhl:. Mortgage, lh~ covenants ;\lid agrecmcnb ~lt s.w.:h nJcr
<br />shiUt be incorporated into and shall amend and supp1crnent the l.:(J;:enants and i.igreclncnts \Jf thiS Mortgage- a& d the riJI:J
<br />were a part hereof.
<br />7. Protection of l..e-nde~s Se(urity. if Borrower t',uh to p..:rI.::.'rnl thl,;' c(\,'en..l1lts ;mJ agft.'crncms "'I~nta1l1ed In lhi~
<br />Mortgase. or if any ac.tio-n Of proceeding i.. commenced whi~;h nH\tl."fial1y atTe..:t", Lc-nJcr\ lmerC\t ill the Property.
<br />induding. but not limited to, eminent domain. insolvenq;, code cnfor;;.emcnt, ~lr :.lrr,ulgcment~ oX pft'i.~ecJings. in\\_'hing ~l
<br />bankrupt-oc dete-dent, Ihen Lender at Lender's L"ption. UptlU notkc 10 BorWWCf, In.:l.} m.lkc ~ll..:h appcaranI.:C\. dishursc ...UI..'h
<br />iUffiS and take such action a.'!< is necc"""ary t\l protect Lender's lntcrC~L lIlduoing. but nt)t linulcd fl.). ih..hul"scrl1ttnl 1.'1'
<br />reawnahle attorney'$. fee~ and enrry tlpotl the Prupe-rt} t\J m:d"e rl;'p.~ir". if Lender ft:quII.:d 111l'ftgage imUrilfh:C ,b .1
<br />condition (If maki:fia the loan ~cured hy this Mortgage, BOfflY.\-l:r !>haH p..) lhe premil.lIn'-' rt'qlim.~J 1(\ l11"itlla.ll) '>\i.i.:h
<br />InJuu.nce: in_ -effect unti.l !Ouch tim<: "',"" the requirement. fOf !:>Ul,:h In!>urancc wrmim..1c-,< !H ;,i("<;,,';;\idam.:c WIth B'-..)f n..\\HT\, .H1J
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