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<br />S4 ~ 00517""1
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<br />UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows:
<br />1. Payment of Primlpa/ .nd Interest, Borrower shall promptly pay when due the plincipal of and interest on the
<br />indebtedne"'~ evidenced by the Nole. p<epayment and late charge., as provided in the Note, and tbe principal of and interest
<br />on any Future Adv!nce~ secured by this !'-,,1ortgage.
<br />Z. Funds for Tues and I_ce. 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 assessments which may attain priority 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 iniliaUy and from
<br />time to time bv Lender 01\ the basi, of assessments and hills and reasonable estimates thereof.
<br />The Fllnds shall be held in an institution the deposits or accounts ,'f which are insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an institutionl. Lender shall apply the Funds to pay said talles. assessments,
<br />insurance premiums and ground rents. Lender may not charge for '" holding and applying the Funds. analyziog 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 ch~r~ Borr{!~er a~d !..e~r 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 />plITj>OSe 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 helrl by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insllrance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments. insurance premiums and ground rents. as they fall due. slIch excess 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 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 Mortgage. Lender shall promptly refund to Borrower any Funds
<br />held by Lender, If under paragraph 18 hereof the Propeny IS sold 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 application as a credit aR310st the sums secured b'. ~~s t.tortgage.
<br />3, Appli....tiOll of Payments. Unless applicable law pmvi(..!e., .,the.,. ie, ail paym.". received by Lender under the
<br />Note and paragraphs I and 2 hereof shaH be applIed by Lender I\r payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof. then to interest payable un the Note, then to the principal of the Note, and then to interest and
<br />principal on any Future Advances,
<br />4, CblIrges; LIens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
<br />the Property which may attain a priority over this Mongage, and leasehold payments or ground Nnts. if any, in the manner
<br />provided under paragraph 2 hereof or, ,r not paId in such manner, by Borrower making payment, when due, directly to the
<br />payee thereor. Borrower shall promptly furnish to Lender all nohccs of amounts due under this paragraph. and 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 lien which has priority over this Mortgage; provided. that Borrower shall nO! be
<br />reqUIred to dIscharge any such lien so long 'IS Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith contest such lien hY, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any pan thereof,
<br />5, HlIZlIt'd I.....ranc.. Borrower shall keep the Improvements now existing or hereafter erected on the Property insured
<br />against loss hy fire. hazards lOduded wlIhm the term "extended coverage", and such other hazards as Lender may require
<br />and in such amounts and for such ()Criods as Lender may require; provided. that Lender shall not require that the amount of
<br />such coverage exceed that amount of covera~c n.."'qUlred to pay the sums ...ecured by this Mortaagc.
<br />The lOsurance carner rroviding the insurance shaH be chosen by Borrower subject to approval by Lender; provided,
<br />that such approval shall not be unreasonahly withheld. All premiums on insurance policies shall be paid in the manftef
<br />provided under paragraph 2 hereof or, 11 not paid in such manner, by Borrower making payment. when due, directly to the
<br />insurance carnt.f.
<br />All insurance poliCIes and renewals thered shall be tn form il<ceptable to Lender and shall include a standard mortgage
<br />clause In favor {'( and in (orm a(ceptable 10 Lender. Lender shaH have the right to hold the policies and renewals thereof,
<br />and Borrower shall promptly furm,h to Lemler all renewal nohces and .11 receipts of paid premiums, In the even~ of 10",
<br />Borrower shaH gtve pflmlpt nl")ti~e tll the in~urancc carner and Lender. Lender may make proof of loss If not made promptly
<br />by Borrower.
<br />Unle;ss lender and Borrower otherwIse agree in wriung, insurance pro<.-eeds shall be applied to restoration or repair of
<br />the Property damaged, provllJed such restoraUon or repall is economically feasible and the security of this Mortgage is
<br />not thereby impaired. If such restorat.on or repair IS not economically fcasible or i( the security of this Mortgage would
<br />be .mpatred, the tnsurance proceeds shall be applied to the sums secured by this Mongage, with the excess. if any, paid
<br />to Borrower. If the Property is abanJoned by Borrower, or it Borrower (ails to respond to Lender within 30 days from the
<br />dale notice is maded by Lender to Borrower that [he InSUHmCe carrier otTers to settle a claim for insurance benefits, Lender
<br />IS authonze<! to collect and apply the ,"surance pr~ at Lender's option either to restoration or repair of the Property
<br />or to the sums .""ured by this Mortpge.
<br />Unless Lender and Borrower otherwise agrec in wnting, any such application of proceeds to principal shall not extend
<br />or postpone the due daie of the momhly installments referred to in paragraphs I and 2 hereof or change the amount of
<br />sucb installments, If under paragraph 18 hereof the Property IS acquired by Lender, all right, title and interest of Borrower
<br />in and to any JOsutanre policies and in and to the proceeds thereol resulting from damage to the Property prior to the .ale
<br />or acquisition shall pass to Lender 10 the e:\.tcnt of the sums ~ecurcd by this ~tortgagc immediately prior to such sale or
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<br />acquisition.
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<br />6. Pnservatioa and Maiate......c. of Property; Leaoeholds; Condominiums; PllInncd Unit Otnlop_nts. Borrower
<br />shall keep the Propeny in good repair and shall not commit waste or permit impairment or deterioration of the Property
<br />and shall comply with the provisions 0{ any lease .f this Mortgage i, "n a leasehold. If this Mortgage is on a ..nit in "
<br />condominlum or .a planned unit development. Borrower ~hall pe-rf(.lrm all of Borrower's obligatlons under the dtX:lau.tion
<br />or covenants treatull or govermng the condommium or planned unit devchlpment. the by.!aws and regulations of the
<br />i.:t-mdominium or planned unit dcveiopmenl. ~md l.:onstituent Jocuments. It a f,;onJorninium or planned \lnlt development
<br />nJer IS Cx.c~utcd. b)' Borrower and recorded together wuh thiS Mortgage. the cuvenants nnd agreements 01 slIch rider
<br />shall be incorporated into and shall amend and supplement the ctl\CIH'nlS and agreements or this Mortgage as if the rider
<br />,"",re a part hereof,
<br />7. ProteC'tiDa of Lead__~. Security. If Borrower foul, to ~rf,lrm the covenants and agl'e~ments t'ol\laincd in (his
<br />Morllaae~ or if any action. (lr rHx~ding IS. .:ommenceJ which matenally aflccl~ I ender's Interest in the Properl)',
<br />II'K!uding. but not hmlteci 10. cm.nelll domain. itl$oJ\'ctl\.'y. t:\Jd~ t'ntun.~emcnt. fll arr.tngemenli LIe proceedings Involving a
<br />baukrul" Of QCi."Cdent, then I.ender al i ender's Of\lKlIl, upon H\Hke In R-ofnl'.~'cr, m.Q)' make such appearances. disburse s\l..:h
<br />sum. And take sw.:h action .1\ is neceMary fO rPJ!ed I ender's lntt:!r:~[. 1!!\.'lthi1ng, t'U{ unl 1jmlt~d t~l, dl"hunerneOl pf
<br />reuonabJe aHorney's tees ami eotf)' upon the Property Il' make f('patf~. It I,rud.er re~Ulr('d rno(tgagc i",uraf1\.'(': ii' ;~
<br />I.:OQd}hon of muina the loan s.tX.ureo by flus. M\.lrtild..ge. llofHJ"C! shall ra) [he prCmlUl1\!t. leqUlreJ to l'uaiul.;.t\11 'lh.:h
<br />iGSuraiK-f; in e;ffil'Ct lAniii Slj-t..h hroe as. the rct.lUiremeni for rml,;h mS-UlalKe tcl'nlHlt1tcS In ac\.':ordanl....c w,th 8orru",'cr's and
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