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<br />84 - 005396
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<br />UNI~;~jt~VJJ,;JT', Borrower and Lender covenant and agree as follows:
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<br />t. Pa}1Rent of Principal and Interest. Borrower shall pr~mptly pay when due the principal of and mterest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and inteteSt
<br />on any Future Advances secured by this Mortgagc.
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<br />2, Funds for Taxl!S elld Insu...."... Subject to applicable law or to a written waiver by Lender, l3o",owershlllI~y
<br />to Lender on the day monthly installments of principal and interest are payable under the Note,un!il the. ~otejs.P!l,dinfult
<br />a sum (herein "Funds") equal to one-twelfth of the yearly laxes and assessments wbichmaY at13m Pfiority;<:>ver)~is'
<br />Mortgage, and ground rents on the Property. if any. plus on....twelfth of yearly premium instatlmentsfor nazard.insuranef;"
<br />plus one-twelfth of yearly premium installments (or mortgage insurance, if any; all as reasonably estimated initlaUy'and.Jil!trf.'
<br />lime to time by Lender on the basis of assessments and bills and reasonable estimates theteo!.
<br />The Funds shaH he held in an institution the deposits or accounls of which are insured or guaranteed'by.a.F(;d~!;c:p"",
<br />slate agency (including Lender if Lender is such an institution). Lender shall apply tbe Funds to pay saidtaxes'assesslM!lfS:
<br />msuranee premiums and ground rents, Lender may not charge for so holding and applying the Funds,analyzin.gsaid'acepullt;.
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower inlerest on tile Ftllldsandappliclltililfa""
<br />permits Lender to mak.e such a charge. Borrower and Lender may agree in writing at the time ofexeeution.o~.-.thiS>
<br />Mortgage that mterest on the Funds sball be paid to Borrower. and unless sucb agreement: is made or. llpplieablc,..lll\1iC
<br />requires such interest to be paid, Lender shall not be required to pay Borrower any interestoreamingson;tbe.Funds,L~'
<br />shall give to Borrower, witbout charge, an annual accounling of the Funds showing credits and debits to the Fundsand.~e.
<br />purpose for which each debit to the Funds was made, The Funds are pledged 35 additional security for tbe.sums.seeured:
<br />by this Mortgage. .
<br />If the amount of the Fnnds held by Lender, together with the future monthly installments of Funds- payablepriohto'
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall eXo:led tbeamonnt required to .pa.y said taxes"
<br />assessments, insurance premiums and ground rents as lhey fall due, such excess shall he, at Borrower's option,- <:.!.tbel:'
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds, If tbe amount of the F~:
<br />held by Lender sball not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall.duer'.
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date noth:e is,,'mailecF '
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment m full of all sums secured by th.. Mortgage, LepQer shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph J S hereof the Property is sold ()[ 1...' "roperty is otberwise acquired by Lender, Lender
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<br />~~~~~;~:Yi'h~~ ;~~~e~~::~i~~=~~~~l: ,-~~Si: :~:~:i ~~~~~, ~:n~:e ~~,' :~CZy Ot~_,Lts ~;~;~=~~~ii by Lender~ any F~ds held 'by
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<br />3. AppJicatitm of Payments, Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof ,hall be applied by Lender first III payment of amounts payable to Lender by Uorrower
<br />under paragraph 2 hereof. then [0 mteresl payable on the Note, then to the principal of the Note, and lhen to interest and
<br />pnncipal on any Future Advances.
<br />4. Charges; Lims. Bornw.er ~h;Jii pay :111 la.\C's. ,1\SCssmcnb ;md I..Hhcr charges. fines and lmpositions attributable to
<br />the Property which may attain a priority over thIS Mortgage, and le."ehold payments or ground renls. if any. in tbe manner
<br />provtded under paragraph 2 hereof or, ;i not paId III such manner, by Borrower making payment, wben due. directly to the
<br />payee thereof. Borrower shall pr\.lmptly I ur01;..h to L~nder aH noU~es ur amounts due under this paragraph, and in the event
<br />Borrower shall make payment dife-ctly. Bl)rrOIA1:f ..,hall promptly furnish to Lemler receipts evidencing such payments.
<br />Borrower shall promptly discharge any hen whIch has pnonly ,wer Ihis Mortgage; proVIded, that Borrower sball not be
<br />required to discharge any ~uch lien St) long &3 Borro\\-a shail agree in wriling to the payment of the obligation secured by
<br />such lien in a manner acceplable r..) L~nder. l'r "hali In good faith \.:ontc~l stich hen by, or defend enforcement of such lien in.
<br />legal proceedmgs wbICh operate to prevent the cn",rcement ot the hen or forfeIture of the Property or any part thereof,
<br />5. Hazanllnsurance. Borrower shaH keep lht: !mpf{)\<cmem~ no\\' c\i::-.ring or herc:after erected on the Property insured
<br />against loss by fire. hazards InduJ~d withm the term "e...tended coverage". and slIch other hazards as Lender may require
<br />and in such amounts and for such peflt.'<iS as Lender !n~tY r~qliire; pr...wided. that Lender shaH not require that the amount of
<br />such coverage c"c-eed that amounI ot c(l\"erag~ reqUired to pay rhe sum~ ~~cllred hy [his !vtortgage.
<br />The insurant.:e carner providing the jnsuraflt.:e shall be ..:hosen by Borrower subject to approval by Lender; provided.
<br />that such appro\'ai :;hall nOl be unrea.\onably withheld. All premiums. on insurallce policies shall be paid in the manner
<br />provided under paragraph 2 hereof or, If not 'pald In such manner, by Borrower makmg payment. when due, directly to the
<br />insurance carner.
<br />......n insurance POhCiC5 dnd rene~als thereOf ~hali be In form .:u.;\.:epl.-tbk h) Lem.lc:r and shall include a standard mortgage
<br />da!..!se if! fav'.)!" !."\f and ir.: ferm ;ic~-ept~hh: ~0 L~;.Jci". L"',,d..::r ,,;,haU h.:i.....: ihc righ'i i.G hGh.:1 th~ p,J~k;C& and rcncwa15 :hereof.
<br />and Borrower shall promptly furmsh 10 Lender all rt:nc\.-\dl noll'l:~ dud .lll receipts of paid premiums. In the event of loss.
<br />Borrower shaH give prompt noth:C I,,) Ihe !flsur .-t11l:C (:liTner dud l.emler. Lender may make proot of loss if not made promptly
<br />by Borrower,
<br />Unless Lender and Bon ower olhcrvln:-.~ agree m \\ fltll1g, in~uri.m\:c proceeds. shall be applied to restoration Qr repair of
<br />the Properl)' damaged, provided ,u,h ro"oral"'" or repall " ecm'omlcaIly feaSible and the security of tbis Mortgage is
<br />nut thereb, impaircc,J, If ~u\:h re~turallon or repair IS not ~\.',)n\)mi~dUy ieaslhle or If the ~curilY of this Mortgage would
<br />be impaired, !be msuranee prv.:eeds shall be apphed to the sums ,e"",ed by thIS Mortgage, with Ihe excess, if any. paid
<br />to Borrower. If the Property IS .1bam!l)nifJ by Borrower, ()r It Horn"'"twcr lads 10 respond to Lenrl~r within 30 days from the
<br />date notice lS mailed by Lender to Borrower that thC' insurani.:c carrier l>rfers to 3ettle a claim for in~urance benefits, Lender
<br />is authorized to coHect and apply [he !n~uran..:(: proceeds .it Lender's option either to restoration or repair of the Property
<br />or 10 the sums s","ured by Ihis Morlgag<.
<br />Unless Len<k:r a=id BOHower ;,)thcrn-l~ agree In \..nring. any st.h..'h app:ic~'ilioii of pn"xeeds to pnncipal shall not extend
<br />or postpone the due date of the monthly lns{aHmcl1l.s rdern:d to in paragraphs 1 and 2 hereof or change the amount of
<br />sucb installmems, If under par.>graph 18 hereof ,he Property I> acqulf<d by Lender. all righI, title and interest of Borrower
<br />in and to any insurance policies .lod in and to" th~ proceeds thereot resulting from damage (0 the Property prior to the sale
<br />or acquisition shaH pass to Lender to the ex.terH of the sums secured by this Mortg.lge I mmediately prior to .such sale or
<br />~uisition,
<br />6. I'reBenalioa aad Maintenance at Propert); Lt'aseholds; Condominiums; Planned Unit De"elopments. Borrower
<br />s.ball keep t~ Property in good t~pair and shaH not ~ommlt \o\aste or rx:rmn impairmenl or delcriorallon of the Property
<br />and shall comply WIth the proviSions of any lease If this MOflgagt: IS on a leasdlOld. Ii lhi:-. Mortgage is. on a unit in a
<br />cOQdominiwn -or a. planned unit devetllpment, BOrrO\\t::f ::.haU perform all ll( Borruwer'ii obhgatH..ms under the declaration
<br />or covenants cceatina or governing the ':':I,)ndomlnlUm ,-If planned umr JcVcl(lpm~lH. the by~lav."s and res,ulalions of the
<br />condominium or planned unit de\'elopmtnt. .iI1d \.:onstHuent J(Xumcnh, If 1.1 l.';.HhhJminium or planned IInit development
<br />rider is executed hy Borrowel and re~orded together \Alth th_is Mortgage, the >':t-)vcnants and agreemenls of such rider
<br />shall be iororpo[lttcd Into and shall amend and supplement the co'enanl> ;lfld agreements of thIS Mortgage as if the rider
<br />were a part hereof.
<br />7. Protcctioa of l.etlder'. SKurity. If Bon(\wer f aih It) perform the ,,:ovcnants. and agreements \'(lnlaincd in thi:'
<br />Maftlage.., or if an)' a.clioo or proce-.edlDi IS c'Jmm~n,"cd v.:hii..:h tnllh:riaHy ,ltfed-s l.ender"s, mterest in the Property,
<br />indudin&. but n.ot bmited to, emment domain. ill'SoJ'\ient.:Y. (.'t'Xfc t"ofori.::emenl, Of arrangements ('f procee.dings lflvolving i\
<br />bukOJpt Of Jeccdent. then Lender iU Leuoc,f"S npllQjL upon llU'U-l;:C I~l Hf.lfHIWCr. mil) make ~w>-'h appeanltl-c~_ di\but"Sc such
<br />~ums &rid lU-e such a.;tivu as, It n~~cs.!ia.l'l' t..J prote.t;f Lem1~r's IOlerest, ({l{.:h.HJing, bql Iwt limited tt\. i.h~bursement 01
<br />re:ucnabk all(;..rncY'$ fees and enay u.pon th~ PTufX'ny to (Hoile r<,;pi4W\ H l CI1Jer re,.pliltd nhlng~LgC ins.llf,ith.T it\ .1
<br />L:.OOdllf.Ol\ or making the lo.<<u ~,\.:ure.J hy thJS Mot!gagt. no;r(,~\."( iihi.t!l P~lY tht: prem1uni;>. n:-qulf,d tp majrH3111 ..ud'l
<br />insu.rancE; in ("-fleet \..inhl 1;,HCn hm*,~ .;(1; !he requirement f~}f 'liH.(h 'ri'\:.nan('t tt:rmi~ltjte.. 'n JCCOrdllHd: \'dth BOtTPWt~r'... and
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