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<br />005615
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<br />UNIFORM CoVENANTS. Borrower and Lender covenant and agree as foHows:
<br />1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebt€d.a.e5s ~yidejjced by 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. Funds for Twres and IlISurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monrhJy 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 or 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 estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an institution), 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 and 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 shall be paid to Borrower, and unless such agreement is made or applicable Jaw
<br />requires such interest to he 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 />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for tj,e sums seCured
<br />by this Mortgage,
<br />If the amount of the Funds held by Lender, together with the fUlure monthly installments of Funds payable prior to
<br />the due dates of 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 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 Property is sold or the Properly is otherwise acquired by Lender. Lender
<br />sball apply, no later than immediately prior to the sale of the Propel'" - its acquisition by Lender. any Funds held by
<br />Lender at the time of appHc~ticn as a c:-edit agair.st the sums ~e~':. >.' 'Y this Mortgage
<br />3. Application of Payments. Unless applic; hie law proy,,' ,;therwise. all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof. then to interesl payable on the Note, then to the principal of tbe Note. and then to int~rest and
<br />principal on any Future Advances,
<br />4, Charges; Liens. Borrower shall pay all taxes, assessments and other charges. fines and impositions attributable to
<br />the Propeny which may attain a priority over this Mortgage, and leasehold payments or ground rents. if any, in thernanner
<br />provided under paragraph 2 hereof or, if not paId in such manner, by Borrower making payment. when due, directly to the
<br />payee th<reof. 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 Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shall not he
<br />required to discharge any such lien so long as 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 by, or defend eoforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5, Hazard Insurance. Borrower shail keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may require; provided, that Lender shall not require that the amount of
<br />such coverage exceed that amount of co\'erage required to pay the sums secured by this Mortgage.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided,
<br />tbat such approval shall nOI be unreasonably withheld. All premiums on insurance policies shall he paid 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 />insurance carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form a\,:ceptable. to Lender. Lender shall have the dght to hold the policies and renewals thereof9
<br />and Borrower shall promptly furnish to Lender all renewal notices and aU receipts of paid premiums, In the event of loss,
<br />Borrower shall give prompt notice to the insurance carrier and Lender, Lender may make proof of loss if not made promptly
<br />by Borrower,
<br />Unle,ss Lender and Borrower olherwise agree in writing, insurance proceeds shall he applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the security of this Morlgage is
<br />not thereby impaired, If such restoration or repair is not economically feasible or if the security of this Mortgage would
<br />he impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess. if any. paid
<br />10 Borrower. If tbe Property is abandoned by Borrower, or if Borrower fails 10 respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower Ihat the insurance carrier olTers to settle a claim for insurance henefits. Lender
<br />is authorized to collect and apply the insurance proceeds al Lender's option either to restoration or repair of the Property
<br />or to the sums secured by this Mortgage,
<br />Unless Lender and Dorrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
<br />such installments, Ii under paragraph 18 hereof the Property is acquired by Lender, all right. title and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereo( resulting from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the extent of the sums secured by Ihis M&rtgage immedialely prior to such sale or
<br />acquisition.
<br />6. Prelervation """ Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />shall keep the Property 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 if this Mortgage" on a leasehold, If this Mortgage is on a unit in a
<br />condominium or a planned unit development. Borrower shall perform all of Borrower's obligations under the declaration
<br />or covenants creating or governing the condominium or planned unit development. the by-laws and regulations of the
<br />condominium or planned ullit development, and c()~lstitllent documents. If a condominium or planned unit development
<br />rider is executed by Borrower and re~orded together wtth this M(lrtgage, the covenants and agreements of such rider
<br />sball he incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
<br />were a part hereof,
<br />,. Protection of Lender's ~urity" If Borrower I !u!s to perform [he covenants and agreements contained in this.
<br />Mortgage, or ir any action or proceeding is (ommcnced which materially affects Lender's mterest in the Property,
<br />induding. but not limited to, eminent domain. insolvency, code enforcement. or anangements or proceedings involving a
<br />bankrupt or decedent. then Lender at Lender's option, upon notice to Rorr\.)wer. may make su\:h appearances, disburse such
<br />sum!) and take such i\i;don as IS necessary to prolel.:t Lemler's mleleSl, lnduulog, but not limited to. disbursement \)(
<br />rc.uonable attomey's fees and t':nlry upon the Properly to make repulr:-;. It Lender required mortgage insura.tll.:e Its a
<br />condition of making the loan 5t-4:ured by thiS Mortgage. Borrower shall pay the premiums TeqUlred 10 maintam '\.Udl
<br />insurance in effect until SUl,;h 1tme ai the requiremem for ,;u...:h msurance termmates In aC'.:l)rdancc with BorN.lwer.s l.J.otJ
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