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<br />84c"'- 00594'1
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<br />UNIF~ ctt~, Borrower and Lender covenant alllta~ee as follows:
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<br />1, p...~cff'~ IlDd Infeiest. Borrower shall pr~ptly pay when due Ihe principal of and inlerest on the
<br />;ndebtedne.. evidenced by the Nole, prepayment and laIc charges as provided in Ihe NOle, and the principal of and interest
<br />on any Fulure Advances lIeCUred by Ihis Morlgage,
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<br />1. FUAds fOl' T_1lDd I_e. Subject 10 applicable law or to a written waiver by Lender, :Bol'fowershliRpay
<br />to 1.ender on the day monthlyiustall.rnents of principal and inte=t are payable under the Note. uQ/ilthe Note ia. paid in/ull; .
<br />a sum (herein "Funds") equal to O!ll>.twelnh of the yearly laxes and assessment. which. may . allain prjol'ityoYCt':t1U$
<br />Mortga&e. and ground rents on the Property,if any, p1~ one-twelfth of yearly p!'entiu\ii.ill$tali.tnentdorhazant,i~
<br />plus one-twelfth of yea~ly, prcmiurrt lnst4Uments for mortgap: insur;r.ce. if a"i~- aU '0'- ~JUlbiy';-e8timated'.tnitiillY- amt-J~
<br />lime tU ti= trf l..ci1l:ier on the basis of assessments and bills and reasonable estimalestlil!teofc .....,.<:" ....
<br />The Funds shall be held in an institution the deposits or accounts of which an= i_redDr~~;bya.F~i~-
<br />state agency (including Lender-if Lender is such an instiMion). Lender shall apply the Funds to pay said .tilxes.~
<br />insurance premiums and ground rcnls. Lender may not charge for so holding and applyinll; theFunds,:i!-I\llJyzing}~ii:l-~I'
<br />or verifying and compiling said assessments and bills, unl_ Lender pays Borrower illt_orr tbl!.Funds.lUtdll~'l;I,,,,,,..
<br />permits Lender to make such. a charge, Borrower and Lender may. agree. in writing .l\tdl..tinll!,Qic~-of>tli'1SO
<br />Mc-:tg:ge :h;t ;n~~~. on the Fun~_ sr-J4H hi; pAid to Bui':fuWcf. oina: uoiQs. sUGb a&feemcui ~ -midC,:'6t~~~,;;-:~?~
<br />requires such interest to be paid, Lender shaH not be required to pay Borrower a!lyi!l!er=tcrea."llinp~tlili'~,"i,~IliIIi"!'~;
<br />,hall gi"" to Borrower, witDout charge, an annual accounting of the Funds showing creditaand debits ,to tbe Funds aM;:tlIj;'
<br />purpose filT which each debit to the Funds was made. The Funds are pledged as additional securityfortbesums'~
<br />by this Mortgage, ,
<br />if the amount of the Foods held hy Lender, together with Ihe future monthly installmentsof.'FundS'paftilile'.~.to
<br />the due dates of taxes, assessments, insuralKe premiums and ground renlS, shall exceed the'lUl\OIIIltreqlliredWl'lW$llid!~':.
<br />assessments, insurance premiums and ground rents as they f~ll due, such excess .hall be,at,Borr-oll!er's~..~~,
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds; If the ~t;Qf'~ . .
<br />held by Lender shall nOl be suflicient 10 pay laxes, lWCSSments, insurance premium. and ground ~Dtsilstliey; J
<br />Borrower shall pay to Lendu any amount n<<es$ary to makeup the de""u-ey within 3Odaysfromtbedll~~.i&
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in fun of an sunu secured by this Mo-ng"{f}. c.-~~:de_r st, Ji promptly-refund-toIJOirower-_-LqY-~:fuodl'
<br />heid by Lender. If under paTalra~h l f:t hereof th,.:. p-;__n:peny !~ '}f the Pr"O:Frty ;; ot~."'~.iK -a.cquija1_-by-~L4t~~;: ~~.--<--
<br />5hal1 apply, no later Ihan immedialdy prior 10 the sale of the Property or 'IS acql!isition by-.L.endectanYFi.md$.chakfby:
<br />Lender at the hme 01 application as a credit against the sums secured by this Mortgage.
<br />3. ApplkatiOSl of Paymems. Unlc", applicable law provides otherwise, all payments ;;:;;ei-.cd by. untiRctll:\4ec.the'
<br />Note ,,"l! paragraph. I and 2 hereof shail be RPl'herl by Lender first in payment of amounts payable to LenderbyftmTower
<br />under paragraph 2 hereof, then to interest payable on .he Note. then to the principal of the NOIe,and tben to inle/1lSt.lInd:
<br />prtlKlpal on any Future Advances,
<br />4. Chartes; LIeas. Borrower sh.1I pity all 'axes, ,,,s,,,"''',n'' and olher ch~rges, fines and impositions attrihutable.co
<br />the Propertj' which may attain a pnority over this Mortgage. and leasehold payments or ground rents~ -if any.- in tltif ~-.
<br />provided under paragraph 2 hereof or. If nel plud In such manner, by Borrower making payment, when dlie. direetly'co.the
<br />payee thereof. Borrower shall prompdy furms;, 10 Lender all notices of amounts due under Ibis paragrapb.atid inthefWIIDI
<br />Borrower shaU make payment directly, Borrower ,hall promptly furnish to Lender receipts evidencing such pay_IS.
<br />Borrower shall prompdy discharge any lien which has pnonty over this Mortgage; provided, that Borrower shall not be
<br />reqUIred to discharge any such lien '0 10llg as Borrower shall agree in writing 10 the payment of the obligation secuted by
<br />such lien in a manner acceptable (0 Lender, or ,hall In good faith conieS! such lien hy, or defend enforcement of such lien in.
<br />legal protudlOIJS which operate to prevent the enlorcemenl of the hen or {orfeiture of the Property or any p.rtt~,
<br />$, Huard I-.a<<, Borrower >haii keep the improvement' now e"i,lmg or hereafterere<:led on the Property i_red
<br />against loss by fire, hazards included wnhm the term "extended co.erage", and 5"Cft other hazards as Lender lOllY require
<br />and tn such amOunts and for .""h penoos as Lender may require; provided, that Lender .hall not require that the amounlof
<br />such -coverage- e,xceed that amount or ,"overage n:quired to pay ,he sums secured hy this Mortgage.
<br />TIle insurance carrier providing the msurance shall be chosen by Borrower subject 10 approval by Lender. provided,
<br />tb.al such approval s!-~! r'aOt be unreasonably withheW. AU premmffis on insurance policies shall be paid- in the.- mannef
<br />provided under paragraph 2 hereof or, If not paid in such manner, by Borrower malting payment, when due. directly to the
<br />insunDCe carrier,
<br />All insurance policies and renewals thereOf shall be in form acceptable to Lender and shall include a standard mortpte
<br />clause In favor of and in form acceptable to Lender. I.ender shall have Ihe right to hold Ihc policies and ren..-wal. It.ereof,
<br />and Borrower shall promptly furmsh to Lender ail renewal nOIl= and aU reeeipts of paid premiums. In the even! of lou,
<br />Borrower .hall sive prompt notlce to the insurance carner and Lender, Lender may make. prool of loss it not made. promptly
<br />by Borrower,
<br />Unless Lender and Borrower otherwise agree in wriling, insufiillce proceeds shall be applied to _!Oration or r~ of
<br />tlw Property damqe<i, provuted such rntorallon or repaIr is economically feasible and the security of Ihis Mortgago i.
<br />not thereby impalled. It such restoralion or repair is not economically feasible or if the security of tbis Mortgage would
<br />be impaifed. tbe insurance proceeds shall be applied 10 the sums secured by rbis Mortgage. witb the excess. if any. paid
<br />to Borrower, If lhe Property is abandoned by Borrower. or if Borrower fails to respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the IIlsurance carrier offers to settle a claim for insurance benefits, Lender
<br />is. JlJ,lthnril~ h~ oxJ.....lect a..r:-d ~rr!Y ~= i~:iti~r.R:~ prc~~ 'Ii L.elwc! ':Ii option cilner (0 restoration or repair ot the Property
<br />or to the sums secured by this MortP&e.
<br />Unless Lender and Borrower otherwise agree III wntmg, any such application of proceeds to principal shall not extend
<br />or poUpoa .he due date ot the monthly installments referred to in paragraphs I and 2 hereof or change the amount ot
<br />iuch imta1lments, If under para&taph 18 hereol Ihe Property.. aC'lUlr-.A by Lender. aU rigbt, hue and interest of Borrower
<br />in and to any Insuraoce policies and in and to the proceeds thereof resulting from damage to the Properly prior 10 the sale
<br />or acquisition shall pass to Lender to lhe extent 01 the swns secured by this Mortgage Immediately prior to such sale or
<br />acquisition.
<br />6. ~ ad ~ of Property; Losehotlk: Condomlai_ Planned Uait Oc\'eloptMllls. Bortower
<br />s!l:lll;eep the Property in good ~air and shall DOt commil waste or permit impairment or deterioralion at the Property
<br />and IIlaIl comply with tbe provisiona of any lease if thIS Mortgage is on a leasehold, If this Mortgage is on a unit to a
<br />"'- ~ ~..imtliii or a plllUfi!Oii unil development, Borrower shail pertmm all of Borrower's obligahOll$ under the declaralion
<br />or .- creatiJII or governing the condommium or planned tlnil development, the by. laws and regulalions of the
<br />~_ or pIanncKl u.oi~ development, and constiluent documents. If a condominium or planned tlOIt development
<br />rider is ~ by Borroww,and r<<OTded togothet wuh this Mortgage, ~he covenants and agreements of such rider
<br />olW1 be ~ illlo and shall ~ and supplement tbe covenanu and agreements of this MOrlg"l" as II Ihe rider
<br />_. a ~ hereDt.
<br />7. ~at...........~. If Borrower faiis to perform lhe covenllllls and agreements contamed in Ihi$
<br />~ "" if aU)' ac:tWn or proceedinc is commeneed which malerially affects Lender's interest i~ the Property,
<br />iI~ but not limited to, eminent domain, insolvencr, code enforcement, or arranp:ments or proc<oedtnp mvolvmg a
<br />"'"*ntpt. or ~I. the Linder at Lender's OptiOll, upon nOltce 10 Borrower, may make xueh appeara""..., d.sburse .ueh
<br />_ ... laU "'"' ~ .. IS -V to protll<:1 l~s mt"rat, mcludlll.j, but n'lI llmited to. dlSbunernent 01
<br />r~ '~'t 1_ ... iIlllrY "pOll the ProperlY to mw tep;UN;, If Lender ",,,uired IDOrtgap i"surllocell. ..
<br />~~ ol.~ 1M. loan ....:wed by thos M"rt...., BonoWff .hall pay I."" p<emium" '''''''ired '" matnt...n ...d,
<br />__ In ofIe<t Ul>iil wdI U- IlS ibe requ;rem<mt lor weh mturance lerminates '" .ccOtda",:" w..h Burrower', llnd
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