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84- 003530 I UNIFORM COVENANTS. Borrower and Lender l:OVenanf and agree as follows: I. Payment of Principal aDd Interest. Borrower shall promptly pay when due the principal of and interest on the indebtedness evidenced by the Note, prepayment and late charges as provided in the Note. and the principal of and interest on any Future Advances secured by this Mortgage. 2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender on the day monthly installments of principal and interest arc payable under the Note. until the Note is paid in full. a sum (herein "Funds") equal to one-twelfth of the yearly la.xes and assessments which may attain priority over this Mortgage. and ground rents on the Property. if any, pJus one~twelfth of yearly premium installments for hazard insurance. plus one-twelfth of yearly premium installments for mortgage insurance. if any. all as reasonably estimated initially and from time [0 time by Lender on the basis of assessments and bills and reasonable estimates thereof. The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institution). I.ender shall apply the Funds to pay said taxes, assessments, insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account, or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this Mortgage that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable taw requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. ,Lender shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to_the Funds and the purpose for which each debit to the Funds was made. The Funds arc pledged as additional security for -the sums secured by this Mortgage, 1f the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due dates of taxes, assessments, insurance premiums and groLnd rents, shall exceed the amount required to pay said taxes, assessments, insurance premiums and ground rents as they fall due, such excess shalf be, at Borrower's option, either promptly repaid to Borrower or credited to Borrow~r on monthly installments of Funds._ If' the amount of' the ,Furi<is held by Lender shaH not be sufficient to pay taxes, assessments, insurance premiums and ground.,rents as they -fair-due, Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days -from the 'date-_notice:is matIed by Lender to Borrower requesting payme'O[ thereof. Upon payment in full of all slims secured by this Mortgage. Lender shall promptly refund to- -Borrower any_,: Fbrids- held by Lender, If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired' by Lender,i,encer shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender; any .--Fu[)(hr'- held;,'"by Lender at the time of application as a credit against the sums secured _by this Mortgage: "_ _, _ ,_ " _ _ _ ,- 3. Application of Payments. Unless applicable law prov otherwise, all payments -received- _by ,Lendet:-u~_de~;-';tl)~':; Note and paragraphs 1 and 2 hereof shall be applied by Lf:-' :~r w'St in payment of amounts payable-to-Lend~r"bY:-:-~~I:rq~e,r: under paragraph 2 hereof, then to interest payable on the h":':IC. then to the principal of the Note, and, then' to_ inter~st--and.~~:-~ principal on any Future Advances. 4. Charges; Liens. Borrower ~halJ pay aU taxes, assessments and other charges, fines and:-iinposi6~ns' attri~~i~B,~~':1.Q' the Property which may attain a priCi'llY over this Mortgage, and leasehold ,payments or ground rents;_ if a~y. _in}h~c,m~~.~~t' provided under paragraph 2 hereof Of. if not paid in such manner, by Borrower making payment~ _when-:due.:--directly,~:!~'-:~pe payee thereof. Borrower shall promptly furnish to Lender aJJ notices of amounts due under this-_paragraph.::__atld-:ji:L';~~:~~,:~~t:, Borrower shall make payment directly,. Borrower shaH promptly- furnish lo Lender re~eipts, ~v~_~.en~cing:..:s:tJ~h'-, p.ay-m~,ts~'. Borrower shall promptly discharge any lien which has priority over this Mortgag~; provided, ,thatBorrower,::-s-' required 10 discharge any ,such lien so long_ as Borrower-,shall agre_c in writing to--the paym~nt -()f tpe_-'_'qljlig~p such Hen in a manner acceptable 10 Lt:nder, or shall in_good faith contest slIchIien by, or defend_-enforce.meqJ,-_~ legal proceedings which operate (0 prevent the enforcement of the ,lien- or forfeiture'of ,the,_Proper_ty-,o.r:a-ny, 5. Hazard Insurance. Borrower shalt keep the lmprov~ments now cxi~ti_ng or hereafte!,__erect~d: Oll,the:,Pt against loss by fire, hazards included within the term .'extended coverage'., and"sucb other 'hazards-,~as_L~ _- " and in such amounts and for such periods as Lender Illay require; provided, that Lender.shall not-,reql.1ire.that>the:,~,aix1ou:_~~,:~r such coverage exceed that amount of coverage required 10 pay the sums secured by this Mortgage;-~ ' -,:-"::'_, :'::: ----:'i:~': The insurance carrier providing the insurance shall be chosen by Borrower subject. to,app.foval.. by :L~nde,r; :.,p~o~j~13~/;< ' that such approval shall not be unreasonably withheld_. AIL premiums on insurance -policies__"shall be:_ paid: ~11': th~'{n;-~~_g~r-'( provided under paragraph 2 hereof or, if nat paid jn such manner, by Borrower making -payment. wh~,~~,.~ue._:--~jre~:tlY:~~(?i:,~,pe,~- insurance carrier. AU insurance policies and renewals thereof shall be in form acceptable to, Lende.r and;shaH -inclllde,-a -~ta,n'd_a clause in favor of and in form acceptable to Lender. Lender -shaJl- have the rigbt ,to -hold---t~_e_"p,o:U(;i.esi:Jln . < and Borrower shall promptly furnish to Lender all renewal notices ,and aU receipts of- paid_,.-pt~mju_~;,~-,,-I~ Borrower shall give prompt notice- to the insurance_carrier and Lender. Lender maYi_make__proof ofJQS$:it,9'-Q6ri~4~ by Borrower. .' ,_-'_ ,', _ "--'~--'_."":'::-_-"-'>-:"'t Unless Lender and Borrower otherwise agree in writing, insurance__proceeds shall ,be_ applied toresto[a:ti()p;:p,r:,r.~p~~I:-,:?f the .Properly damaged, provlded such .restoration or repair is economically feasible _anc:i th~securjty;: o~.~thi~,.... ,,. . not thereby impaired. If such restoration or repair is not l:conomically feasible or if the:,-_se~ur.ity Of'-lhi~>.~~_~tg,~g,~ be impaired, the insurance proceeds shaH be_ applied to- the Sun,lS secllred by this Mo_rtgag~;' with._ the-;.exc~~.s~~,.it'ati pi:l\~! to Bonowt:r. it {he Property IS <loandoned by borrower, or it Borrower: fal(s to respond: to Lender-withi_~.:~-tJ'fJ_i\-yS'--frop~,:_th~,": date notice is mailed by Lender to Borrower that the insurance carric~ otTers_ to settle: a claim for"insuranc~-,:be~e~t~I'::.r;~eP.~er" is authorized to collect and apply the lnsurant:!:. proceeds at. Lender's option eith~r ,to.restoration '.or repair of- the_ ~r()~,rty., or to the sums secured by [his Mortgage. Unless Lender and Borrower otherwise agree in writing, any sllch -application of proceed.s top~in~ipal,shal{n.o~, exte~d or postpone the due date of the monthly inSlallments referred to in paragraphs I and 2. hereof- or change :tqc amollnt of such installments. H under paragraph J H hereof the Property is acquired by Lender, all ri~ht. title and .interest of BorroYler in and to any insurance policies and in and 10 the proceeds thereof resulting from damage to)h~,'Property. p~ipr'to,:~~e,-"s_a_I,~ or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immedi(itely prior: t{),_ su~h ~sa~_e,:pr acquisition. 6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned -,Unit ,:Uevelopments. 'Borrow.er shalf keep the Property .in good repair and shall not commit waste or permit impairment ,or: deterioration-:!)f ,~e - Property and shall comply with the provisions of any lease if this Mortgage is on ~l leasehold: ff this Mortgage is on a ilOit, in "3 condominium or a planned unit dcvdopmt:nt, B()rrowcr shall perform all of Borrowcr"s llbligations under the declaration or covenants creating or governing the condominium or planned unit developmelll, the by.laws and regulations of the condominium or planned unit development. and canstituem docunlcJlls. If a condominium or planned HOlt development rider is executed by Borrower and recorded together I,vith Ihis J\-1ortgagc, the covenants and agrccmcllts of slIch,,_rider shall be incorporated into and shaH i:uncnd and supplement the coveoants and agrccl1lcnls of this Mortgage as if the rider Wete a part hereof. 7. Protedlon of Lender's Security. if Borrower f nils lO p~rfofm the covenants and agreements cont:Jined jn' this Mortgage, Qf jf any action or pro~:ceding is commenced which mal~rially affect.s Lcmler's interest in fh~ Property, including, but n'ot I,imited to, eminent domain., ins.olvency, ('oue -enforcement, or arrangements or proceedings involving a bankrupt or decedent. then Lender ilt Lentler'~ opli_rm, Up(ln notice tt, Borrower, may m~.ke such appearance,"" disburse such sums and take such action a~ is nc(~es':>{1.ry 10 pr(i{\,:;;t Lcnder'_~ int-crcst. 11l~:luJing, but not limited il), di:;,bursemcnt of reasonable attorney's. fees and entry upon the Property to make r':p;.l!rs. if LcnJc:r rcquireJ rnortgagc ills.~Jrancc a'\ d condition of making the loon \c\.:ured by tbis MOrtgilgC, Brjrrov,(~r sh;ill [MY the prL'IHl\l1ns rCljuircd t'.l maintain ~il..;h insl,.lranct: in efrect until ~.uch tnne itS lht,. f(~qtJil.'l:mcnl for ~;-uch H1:sur",nLT lcrn;irw.lc'-i in ;Kc!)rdan'..~~ \\l1th HI-\! rnwcr\ anu :::, ":,- ::"""~""'.~'- , ',,}<~.., :. >-~Y:';',:i,-< jt ... 84 - OO~i5aO