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<br />~4 - 005400
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<br />UNIFORM COVENANTS. Borrower and Lender covenalJt and agree as follows:
<br />t. Paymeat of Principal aad Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principaj of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. Fuods ror Taxes ar..; jrniih-sDCe. 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 infull,
<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 initially and from
<br />time to time by Lender on the basis of assessments and bills and reasonable estimales thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by aFeder~lor
<br />state agency (including Lender if Lender is such an institution). Lender shaH apply the Fuuds to. pay said taxes. ass:eb-rr:Klii.~-;
<br />insurance premiums and ground renls. Lender may nol charge for so holding and applying the Funds, analyzing said I\ccOllnt;
<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' Jimeof execution of this
<br />Mortgage that interest on the Funds shall be paid to Borrower, and unless such agreement is made'!>r 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 Fundsand.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 Ihis Mortgage,
<br />If the amount of the Funds held by Lender, togetber with the future monthly installments of Funds payable Prior to
<br />the due dates uf 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 fall due, such 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 tl\(; Funds
<br />held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and groulld 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 paymeor 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 Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Prop.:' , or ils acquisition by Lender, any Funllsheld by
<br />Lender at the time of application as a credit against the 5Un1S ';h '':.'!l:'':''Y this l\1ortg-"......c.
<br />3. Application of P.ymellls. Uu!ess appl;cabl~ la'v pw'. otherwise, all payments received by Lender under the
<br />Note and paragraphs 1 an.d 2 hereof shaH be apphed by Lender first in payment of amounts payable to Lendei by Borrower
<br />under paragraph 2 hereof. then to interest payabie on the Note. thcn to the principai or the Note. and then to interest and
<br />principal on any Future Advances,
<br />4. Cbarges; Uens. Borrower shall pay all taxes, assessments and olher charges, fines and impositions attributable to
<br />the Property which may attain 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 making payment, when due, directly to the
<br />payee thereof, Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borrower shall promptly furnish to Lemler receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of Ihe obligation secured by
<br />such lien in a manner acceptable to Lender. or shall in good faith contest such lien by, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the entorcement of Ihe lien or forteilure of the Property or any part Ihereof,
<br />s. Huard InsuraDce~ Borrower shaH keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included withm the term "extended coveragc'-, and Stich other hazards as Lender may require
<br />and. in such amounts and for su~h periods. as L~nder may rcquir~; pl\_wided, that lender shall not require that the amount of
<br />such coverage exceed that amount of c0veragc required to pay the sums secured by this Mortgage.
<br />The insurance carrier providing [be Insurance shall be l:hosen by Borrower subject to approval by Lender; provided,
<br />that such approval shal! not be unreasonably withheld, All premiums on insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof or. If not paId in sllch manner, by Borrower maklDg payment, when due, direclly to the
<br />ins.urance carrier.
<br />AU insuranct.:' policies. and r~newals thereof s.hali be in form .!(:(:cpwbk to Lender <\illt shall include a standard mortgage
<br />clause in favor ,-"'f and in form ,lc\:eptablc tll Lender. Lender ~hall have the right h) hold lhe policies and renewals theNt"'f,
<br />and Borrower shall promptly furnish to le-ndcr all renewal l1otll.:es. and all re~eipts of paid premiums. In the event of loss.
<br />Borrower shall give prompt nOli(~ tu the in~ur .Hh:e carner ant! Lender. Lender Play mali.c Prolli uf loss if not m~lJe promptly
<br />b)' Borrower.
<br />Unle.ss Lender and. BOfrvwcr uthcn\t~t: agree Hi \\ ritlng. insllran~c ptO\:ceo:'! shall lh; applied to restoration or repair of
<br />the Property damaged. pn,)\'i~d :o,w.:h rCSh.lfatil)n or n~p<.Hr is cconomit.:alty feasible and the securilY uf this ,Mortgage IS
<br />nol lhereby impalrcd. If su~.:h r~stt)t~tfl\Jn or rc;nllf is Iwt ~'I,.:,ilH,lilli~~tlly feasible ,)f if the security of this Mortgage would
<br />be impaired. the insurance procc~ds shall be applied h,) the sums s~~uteJ by this ~1ongagc. \\ith the excess, if any. paid
<br />In Borrower. If the Property is ..tbanJon~d [I;' Bornw.'cr, {)r II Borrower (.\lls to responu In Lcflt.k~r within 30 days from the
<br />datt: notice is mailed by Lender to BOffl)\>>iCr ihat the insUfan.:c ('arrier otfer~ to selth~ a claim for in~urani;e benefits, Lender
<br />is authorized tv collect and apply the insurance proceeds. ill LenJer's option e!lher to restoration ;.)1' repair of the Pro~rty
<br />or to the sums, ~e~ured by this ,Mortgage,
<br />Unless Lender and Born)\.\cr otheN ise .agrce lil V"'r1tHlg. ;Uly ~u~h appli..:arion of proceeds io principal shall not e\t~nd
<br />or postpone the du~ date of the monthly installments rden-ed ti) ill paragraphs I ~md ~ here,,)f or ..:hange the anl\.Hmt of
<br />)uc-h in).ta.lhnent~. if unJcr paragraph i l) hereof (he Propen) 1:-. acyuircd b) Lender. ;111 right, tItle and mterest \ll .Bornmel
<br />in and to ;Ul) insuran~c policies and in and to the DnJ,:ccds thercvi rcsultHlll from Jallla~~ to the Pmncn" nflnf !(\ lht' s-ale
<br />or acquisition shaH pass. - [0 Lender to tho:: ,'_\.h:nt t)t' the ~um~ :-'Cl:urcu. hy thl~ .\torlgage-....lmmcdiatcl). pn~lr . tp such ~illc or
<br />acquisition.
<br />6. PresenaoOil aad !\1aiDlenancc of Pl'operl)'; I.~asehoJds: Condomiuiufil3:; Planned l'l1it Ilt'\'dopmenb.. Borro....l'r
<br />shall keep the Propert)' in gt...~ repair ami shaH not ..::.ommil \\ as.te- \)[ permlt imp,lIrm~nt or Jetcriorata.Hl 01 th~ Propcrt)-
<br />and shaH ;;omply \vith the provislOm, \,){. an} lease If lhl~ Mt)l'[gJ.gc 1"- lln ~t I(,~asdll.lid. It thb \hntgage- ,., Oil d unit ill .1
<br />condomimum 0f H planned lHllt dcvc:h.tpmcnr. Born.mer ,h.lii ra!~llm :.iJli'! HUrriJWer's 11o!l.gatl()IlS uf1J~r the de-,.:I.H~ttl\,1n
<br />(l[ CQVcnaot~ ~:r~ating ,,1{ gi..WCrnlOg the tt\m.k1mmwm Pf plann<:d una lk\'c-lopm~ilt. the- hy-la\','i. ~\nu rq~ul.l.H;,)i\~ ..,t lhc
<br />I,,:ondvmuuum l)i' planned unit dc:vclopmcIIt. .m\.! c\tn.\tHucnl d-Lh..'UIlKIl!\ It.t ....\Jlldllminlum PI" pJ.HlflCJ tlltlt ~kHi,'pl1lCnt
<br />ruJer IS t.'xecutt:d by Borrower ,and re.;ordc-d tUgcthCl v'>llh [hI:' ~hlrtg~lg~, thl' ":lnl..'n.\m~ .lnti ..gict:llh::nb \'1 "tii.:h T\",kr
<br />shall be Iflcorporatcd Into and shall amend. and "'tJ~)pk:mt:nt tht' ~'t.')':n,Hlls .wd a~r":\"llh'HI.s \.1 lhl" ~1l\rtgagl.: .1... il th(' fidel
<br />were .a pM1 hereof.
<br />7~ Protectiou of I......nder's Securit)'~ it UtlrrlWd..'r lad.. h' p..:t;,)lm [hl~ \,'i\'H.'fhUlh .I!ld .lgn.....lHl'nt:!> ;.'('nl.tint.~u In r!ll'i.
<br />Mortg.aa-e. llf If an)' d\:tion \~: pH.'Kcedmg I'" .;,.i.1nUlll:-n....-l'.! \\Iud! rn"h.'lldll~ ,\th:d\ ll..'l!\h.~l ':<, lllh,'n:...t in Illl' Pr\lpnt\,
<br />mduding, nUlIH.H limited to, enunent d()main, !f1'll\hl'n..:.\, \'\'ll.l1.' \'nfof':l:HlCllL ,\! .l!r.m~~\.'Ill~nh <..'1 1-':.,1":l't't.f1ng:, nl\\)~\il\~ J
<br />bankrupt or d(l~cdent. then Lcndcl ill LendcJ\ \.'f'{li~n, UP_'H {h)tl;;t.: 1,~ fkl-ll,}I.\I:r, 'n.n rna;"c ~th:h dppC.lrJnd'~, ,Jj,~hUl'\' :'l\k'h
<br />'!UIDS -A.'1d tall.t' -'f.l~h ,id!\lU ~n IS m;...:e",--"<'!.r-~ {I' pn'lt.'<.:! ! ~:ndet", 'lH;;l..:'"L hi! H\~( hmllt'i.i "'. ,_L,hu, "<.:iHo:n! \"
<br />t-eas-o.nah!t; a!!tln~t'-;'\ !~<.; ;!!!d CHit)' tip-un tht.:: Pr\.:;p-nt) h~ iniJli:,;: ,q'i,i,,-" ;q..c!!,\n..~' .\"_
<br />(t"'tUdtl.lOO or mi<tkmg the l{\.)fi \(\.'ured hy ltw. :\hH'{~,tf:{:. BtHI'I',\Cf s'l.tH P~~) !bt.' }'((-rnnml.... It, 1lUWl.ll'i .,\j~
<br />tn1ura.n,c in t'fT(X"t untIl :'-'1-..:11 tnn{' ~\'\, '_hi: rCl..}UH~!'nen1 r{if o".....h !!l~,,[.!.1J1.t;" j;_'r;-;"Iuf\'~ :n -,...'.~,'l:d"Uh_\' -'Ill!, P,,;if;'\~C
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