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<br />83-006575
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<br />UNIFORM COVENANTS. Borrower and Lender -covenant and agree as follows:
<br />1. Payment of Prindpld IUId Interest. Borrower shall promptly pay when due lhe principal of and interest on the
<br />indebtedn... evidenced hy the Note, prepayment and late charges as provided in the Note. and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. Fa.Dds for Tu:. and 1_ S"bject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly instaUments of principal and interest are payahle under the Note,until the NOle is paid in full,
<br />a sum (herein ~'Fundst.) 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 ooe-twelfth of yearly premium illSlallments for hazard insurance,
<br />plus ooe-twelfthof'yearly premium installments for mortgage insurance. if any. aU as reasonably estimated initially andfmm
<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 Fe~era) or
<br />state agency (including Lender if Lender is such an instilution), 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 aDd compiling said assessments and bills, unless Lender pays Borrower interest on ,the-Funds and applicable jaw.
<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 sbaH be paid to Borrower. and unless such agreement is.-made-.9r applicable Jaw
<br />requires such interest to be paid. Lender shaU 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 the Funds was made. The 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 lhe future monthly installments of Funds payable prior to
<br />the due- dates of .axes. assessments. insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessm:mts. insurance premiums and ground rents as they fall due. such CXCe5.\ shall be~ at Borrower's -option. either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of ,'the ,Funds
<br />held by Lender shall not be sufficient to pay faxes. assessments. insurance premiums and ground rents as they fall due,
<br />Borrower shan pay to Lender any amount necessary iO make up the deficiency within 30 days from the date notice is mailed
<br />by l...ender to Borrower requesting t>aymem thereof.
<br />Upon payment in full of all sums secured by thiS Mortgage. Lender shaH promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof th. Property" ,old or the Property is otherwise acquired by Lender, Lender
<br />shall apply. no later than immediately prior to the sale of the Property or Its acquisition by Lender. any Funds held by
<br />Lender at the time of applic-ation as a credit agamst the sum!> secured by this Mortgage.
<br />3. AppIiadea of Payments.. Unless applicable law pro....ides (\therwis.e~ all payments received by Lender under the
<br />Note and paragraphs J and 2 hereof shaH be apphed by Lender ti"t in payment oi amounts payable to Lender by Borrower
<br />under paragraph 2 hereof. then to interest payabte on the NOfe, then to the principal of the Note. and then to interest and
<br />principal on any Future Advances.
<br />4* Cbarwes; LIeas. Borrower \haJI pay ;,lH la\.e~. asses.'iments ,Hld other charges. fines and impositions attributable to
<br />the Property whkh may aUain a priority over this Mortgage. and leasehold payments or ground rents. if any. in the manner
<br />provided under paragraph 2 hereof or. if not paid in such manner. by Borrower malting payment. when due. directly to the
<br />payee thereof. Borrower shaH promptly furnish l(l Lender all nOl1ces of amounts due under this paragraph. and in the event
<br />BOrrower shan make payment duectly, Borrower shaH promptly furnish to Lender receipts evidencing Sl!... "ayments.
<br />Borrower s.ha11 promptl)' disch.rge any hen '","'hi~h has prH~ntr {wcr this Mortgage: prOVided. that Borrower s .all not be
<br />required to discharge any sw;;h hen so long as: &rrower shall agree in wrlling to the payment of lhe obligation secured by
<br />such lien in a manner acceptable to l.ender, or shaH in good faith ...~ontcst such hen by. or defend enforcement of such lien in.
<br />legal proceedings wbich operate to prevent the enf()r1.:emeot of the lien Of forfeitur~ of the Property Of any part thereof.
<br />S. HuanI ~ Borrower shaH keep the Ifnprovcmenl~ now e:\i~ting or hereafter erected on the Property insured
<br />against 10& by fire, hazards included withm the term "extended \--{we-rage'., and such other hazards as Lender may require
<br />and in such amounts and for $uch periods .1.'. lender may reqUire: pnlVlded. that Len-tler shall not require that the amount of
<br />such -coverage exceed that amount of coverage requm:d tn pa.y the slims: ~(cur~d by this Mortgage.
<br />The insurance carrier providing the. Insurance shaU he (hosen by Borrower subject 10 approval by Lender. provided.
<br />that such approval shall not be unreasonably withheld. All premiums on insuunce pohcu~s shall be paid in the manner
<br />provided under paragraph 2 hereof or. if nOf paid in such manner. by Borrower making payment. when due, directly to the
<br />iosuraa:e carrier.
<br />AU -insurance policies and renewals. thercot shaH be In fonn il-'=l.-eptablc ro Lenda and shall include a ~tandard mortgage
<br />clause- in filvor of and in form acceptable to Lender. Li:n~r ..hall have the right to hold Ihe policies and renewals thereof.
<br />and Borrower shalt promptly furnish to Lender aU renewal notl<;es and all recetpts of paW premiums. In the event of Joss.
<br />Borrower shall glve prompt notice to the msur~-m;;;e carrier >ind Lemkr. Lender ma~' make pro~)f of loss if not made promr~ly
<br />by Borrower.
<br />Ltnle:- lenckr and Borrower otherwise agree in \\ rlting, insurance pwceeos. shun ~ applied to restonuion or repair or
<br />the Propeny damaged. provided such ~loratil.'t(l or repalf is economically feastble and the security of this Mortgage is
<br />not thetcby impaired. If weh restociiho-n or repaJf is not c~onomll":aHy feaSible or if rhe security of this Mortgage would
<br />be imp&1rcd. the insurance proceeds shaU be applied to the sums M..~ured by this Mongage. WIth the excess, if an)'. paid
<br />to Borrower. If the: Propeny is abandoned by Rorrower. or It Borrower f:uls. to respond to Lender within 30 days from the
<br />date notice is mailed by Lender to BornlWer that the insurance carrier offers to ~cHle a claim for insurance heneRts. Lender
<br />is autborized to collect and apply the uu.urarn:e proceed$. ill Lender'~ option either to restoration or repair of the Property
<br />or to the SW115 se.:ured by this Mottpge,
<br />Unless under and Borrower ot-herwist: agree In \l,riting. any slli:h application ('If pnx.'t:cds to principal ~haU not extend
<br />or postpooc the due date of the fllootht). installments referred to in paragraphs 1 ,mo 2 hereof or change the amount of
<br />such installments. If under paragraph 18 hereol the Properly IS acqUIred by Lend.r. ail right. title and interest of Borrower
<br />in and to any insurance policies and. in and (0 .he proceeds thereot resulting from damage to the Property prior to the sate
<br />or acquisition .shall pau to Lender to the e.\.tcnt l,t the sums ~ecured by thl$ Mortgage immediately pnor to such sale or
<br />acqui$itioo.
<br />6. r.-.... _ ~ of Property, le_ds: Condominiums: P1aoued Unit Developments. Borrower
<br />sball bop the Property in good repair and sball not commit was.e or pernu. impairment or deterioratiun 01 the Property
<br />and -.u comply with the provisions 0{ any tease if thiS Mortgage ,'" on i.t leasehold. It" thiS ~-1ortgagt.' is on <l lmit in a
<br />~ or a planned unit de:'Vclopmem, Bou()wer '!'hall ptrlorm aU of Borrower's obligations under tho dedaration
<br />or ~ _crcatlna or JOVVllJng the condominium or pianned untf development. the by~law5 and regulations of the
<br />COIItdoatiaIWD ,or pIanood wdt devdopment. and "::OO$lltUe:n-t documents. If a \:ontlominium or phulned ul1i1 devc:lopment
<br />rider is uoc.ulCld by- Borrower and n:corded tOJe-the! with thiS Mortgage. the ("ovenaots ~lnd agreemenb of such rider
<br />sball be iB!:Oqllltated into and shall :uncnd and supplement the covenanls and agreements of th" Mong.ge as .t the rider
<br />.... . pliU hereof,
<br />1. ........ '" ~ Soewil:J. If Borrower fad.s 10 perform the coven.nt, and agreements contained in Ihi,
<br />......... or. if .aay. ..uoa <!f proeeI/lIinc .s commenced whieh mate.rially .ffects Lender', mterest in the Propeny.
<br />~ but .. timitod to. ClIlinent domain. imoJv~y. code enh.m.:ement. or arrangenwnts or proca.-dinga HlVl'llviog a
<br />~ Of~. t_ Lencl6t ..t. 1.Ancl6t's option, upon n<>tice to Borf<>w.>r, may mak" such .ppe.....""..... dISburse such
<br />ttIiIIlia ... ._ _10 .etit>> Q- it ~ 10 protect Lender', mt~re$t. mcluWn&~ but not JimHed to, diMlUnemctH ~)f
<br />~ .u~. _ lIDd CIIlr)' u""' lhe Pr<lperl)' 10 make ...""..... If Lender required m<>ngage insurance a' "
<br />~ of ...~ lbt loan .4<lOlUred ~ tlm M""-"",. a"m,.....r .h<dl pay .he pmnlOllU reqUIred 10 mailllalfl such
<br />~ ill d'kt uotJl ~ t-iJM M tbe RqWrCfUCU fer 'lUl;h 1i1_$wance urrmilUltes III acroroanc~ with BOfrow\"'rs- and
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