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<br />IJxttaont`rCovEtv~rrrs. 13oreawerand Leader covenant and agree as follows: 82 "" ~J ~ 11 8 S
<br />$, P~ymrot of I aeti InsetesP. Borrower shalt promptly pay when due the principal of and interest on the
<br />evidentxd by ihi: Note, prepayment and tare charges as provided in the Note, and the principal of and interest
<br />~' anq Future Advances secured by this Mortgage.
<br />1Ftimda floc Tuns ttud Inw^aeee. Subject to applicable taw or to a written waiver by Lender, Borrower shall pay
<br />w C.eittbr an the day monthlyinstallments of principal and interest are payable under the. Note, unlit the Note is paid in full,
<br />a stun:: therein •'Ftmds"} equal to Otte-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 />~tts'otue-ivvetftih of yearly premium installments for mortgage insuranct, if any, all as reasonably estimated initially and from
<br />timC to tame by Lender on the bases of assesamr_nts and hilts tnd reasonablt estimmates thereof.
<br />77teFunds steal! behek! in an institution the deposits or accounts o1' which are insured or guaranteed by a Federal or
<br />state agency (including Lender if I.cader is sack anrnstituiion). Lender shalt apply the Funds to pay said taxes., assessments,
<br />insurance prerftiwns and ground rents. Lender may not charge for so holding and applying ±he Funds, analyzing said account
<br />or verifyrng and competing said assessments and hills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permiits Caroler to stake such a charge. Borrower and Lender may agree in writing at the time of esecc.ion of this
<br />MotYgagc that interest on the Funds shall ht paid in Borrower, and un-ess Stich agreement rs ^rad? :,r aoplicable law
<br />requirtx sitcb interest to be paid, Lender shall not be required to pay Borrower any interest or eaenings on the Funds. Lender
<br />shat! give 40 Barrowtr, wethout 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. '1"he Funds are pledged as additional security for the sums secured
<br />by thrt Mortgage.
<br />Zf the amount of ihC Ftmds held by Lender, together with the furore monthly installments of Funds payable prior to
<br />the uu.. t:aKs of taxes, ass.ss-ar:s, i:,,uzan^, ~ ^-~^a^•^^s ,^~ grnu.~cl ~P„:~ ~hnri ~Y~,..a the amotin*_ required to nay said taxes,
<br />t ............. ...„ "."
<br />tusessastettxs, insftrancC premiums and ground ants as~they Eall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited r~ Borrower on manihly installments of Funds. If the amount of the Funds
<br />heart ly [:cutler shall not be sufficttnt to pay taxes, assessments, insurance premiums and ground rents as thCy fall due,
<br />Borrower sha-i pay io i_ender any amount necessary to make up the deficiency within 30 days from the date notice is slatted
<br />try Letades to Borrower requesting payment thereof.
<br />C;ipon payment in full of alt scans secured by this Mortgage, 1_ender shat) promptly refund to Borrower any Funds
<br />held by Z.ender. If under paragraph d8 hereof the Property cs sold ar the Praperzy ~s othenvisc acgnirtd by Lender, Lender
<br />shall atppiy, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Lender ax the titrte of application as a credit agarnst the cams secured 6y this Mortgage.
<br />3, Ap~flcafloa of Pagmenfa. Unless applecable law provides otherwise, ail payments received by Lender under the
<br />i>ote tend paragraphs I and 2 hereof shall be applied by Lender fiat m payment of amounts payable to Lender by Borrower
<br />looks paragraph 2 henrof, then to interest payable nn the time, then w the prinoepal of the Note, and then m interest and
<br />ptiacipal on any Future Advaaccs.
<br />S. ~: lJtus. Borrower shall pay ail taxes. assessments and other charges. ftnes and rmpnsitions attributable to
<br />the Property which may attain a priority over this Mongage, and leasehold payments err ground rents, if any, in the manner
<br />provided tinder paragraph 2 hereof or. if not pard in such manner, by Bnrrowcr making payment, w-hen due, directly to [he
<br />paytt thereof. Botrowet shall promptly fumtsh to Lender a13 notices o1 amounts due tandtr this paragraph, and in the event
<br />Borrower sha13 make payment dueci-y°, Borrower sfitalt promptly furnish t~~ L.Cndcr rsxeipts evidencing such payments.
<br />Borrowu shall promptly dissltarge any lien which has pruxrty elver this Mnngagc: provided, that Borrower shall not be
<br />tegttin5dxo discharge any such tits sa loafg as Borrower stroll agree in u-nhng to the payment of the obligation secured by
<br />such lien in a manner acctpiabte to l,endcr, ar shall in gotxl faith contest such lien by. or defend enforetment of such lien in,
<br />legal proceedings wttic6 operate xo pra:vcnt the enfurcemtnt of the l,en ctr forletture of the Property nr any part thereof.
<br />S, Aaasrd tasataate. Borrower shah keep the rrnpruvtrnents now existing nr hereafter eretatd can life Property insured
<br />agair~f toss by fire, hazards included within the term "extended cavtrage", and such other hazards as Lender may reyoire
<br />and-in stt<Ir amounts sail for such periods as 1,cndtr may rcyurrt, put>vtdtd, xttat t_tnder shat not rcyuirc that the amount o1'
<br />such coverage exceed that amount of coverage reyurrtd to pay the sums secured by this Mortgage,
<br />Tate ittwrante r:arrict providing the insurance snail axe :Ittrsen by Barrawcr sub}eci to approval by Ltnder; provided,
<br />that such approval shall oat be unreasonab-y withhtid. Alt prtmrums on insurance pohcits snail be paid in the manner
<br />provided utxkr paragraph 2 hereof or, if not paid en such manner, by Borrower making payment, when due, directly to the
<br />insuratsct tattier.
<br />Afl insuratttt policies and tenewais thereof shall be in form acceptable to I.cndcr and shalt int:-udt a standard mortgage
<br />tlttttsC in favor of and in form atceptalslt to C.tntkr. Ltnder shall hare Cite rigtat to hold :he polities and renewals nc~reef,
<br />and Batrowet shalt promptly furnish to Zander all renewal rtnuces and alt rtctip[s of paid premiums. in the event of loss,
<br />Borrower shalt g'ivt prompt notice to ;tae ittsuranae c:amer atad i.cnder. Ltnder may make proof of loss if oat made promptly
<br />by Burrower.
<br />tJetless.Ltnder end Borrower oihersvise agree in wriung, insurance proceeds shall be apphtd to restorazian or repair of
<br />tltC Property damaged, proveded such resiaratinn or repsua rs tcr,nomically feasible and the security of this Morfgag+: vs
<br />not tttCreby impaired. If such restorazinn w repair is not ecntxnmically feasible <zr if the sexurity of this bforzgagt would
<br />be impaired, the insurance procoeds shalt be applied to tlrt scans secured tsy this Mortgage. with the excess, if any, paid
<br />to-C?torrowtr, If iheProperty is abandoned by Bnrrowcr, cx r# l3nrrowtr fails to respond xn Lender within 30 days from the
<br />data notice is mailed. b3' Lender to Borrower that the insurance ear-.ter ciffers to state a claim fctr insurance benefits, Lender
<br />is authorized to collect and apply the snsuranet proceeds at tender's option either to restoration or repair «f the Prapeny
<br />Or to the sums secumd by this MarLgage.
<br />ZFnkss Zander and Borrower ndhetsv°ise agree in writing, any such application of proceeds to ,nncipal shalt not extend
<br />ar pnstptme the. due date. of tube. motttEt}y installments rtferrt3 to in paragraphs l and 2 hereof oe change the amount of
<br />such instaBntcnis. i'i under paragraph I8 harlot the I'rnperty is act}acted by Ltnder, all right, title and inttrtst of Borrower
<br />in and to say insurance oolicies and in art! to the prrx:.ttds thtrtof rrau-ting from damage to she Property pricer to the sale
<br />or acquesition shall pass to Lender fit the extent of the Soros secttrttl by this Mortgage immediately prior tc, suctr sale or
<br />actgtxeaitioa.
<br />&. Plreaervrrtlna sad ;?'.tamtcnance of Propcrtyy; Lraxhotda: Cfxndnmiuiunffi; Planned CJrtit Developments. borrower
<br />sf~t1 keep t1~ }=rnperty in good repair and shall not comttut waste nr permst impairment or dtterinration of the Property
<br />and.sltaB comply with the provisions of any }ease ii this Mortgage rs an a -easthnid. 3f this Mnngay is an a un'a in a
<br />caadonfinium or a plat}pcd unit dtvc'lagmtnt 13orrowtr shall perform a-1 ni' Borrower's obiigaunns under the declaration
<br />ckr covenants emeatrn$.or governing iht condominium nr planned unit development the by-laws and regulations of the
<br />condamirunm or ptantitd unit dCVe-rapmeni, arfd ^.ornxitaent docurrtents, if a condominium ar ptanntd unit dtveloprnent
<br />rider is execrated by Borrower and rtcordtd together wrttt [has Morzgage, the costraants and agreement., of such ri.ltr
<br />shalt be incorpJra±cd ictto and siaall atntm3 and suppltmtnt the covenants and agrtttntnts of this Mongagt as rf tlae rides
<br />were a part hereof.
<br />?. Protection rot Z:aedcu's Ser,•aariq. If 8arrowcr fails to pariorm nett covtnams anti agreements contained in Phis
<br />9aongagn, os i[ -only nu,.fu er praeeriing is ¢umtnenred which mate.-laity a#f~w:.ts Gender's interest fn the Ptoptrty.
<br />tncituting, ~ut oot -imrtsaA u~, tmantnt. domrtin, ittsalwetacy, cttdc tnforcxrtttni, or arrangerneuts or pro+eedings invatv:ng :a
<br />banitra;a ar da:edenr, then Ltm3tr at Lender's aptinrr, trpgn .net r!cr •a Borr„wer, tray stake such appca cosecs, dss'aurse Duch
<br />toot atut tdkc..urh rre[axn as is necessary to prottri t~--,ders ~nxerest. including. bus trot Iemired ter, disbtmsetrtem .;f
<br />ress~ra.Fla at:arn:y's frees sad entry upntt tCat C'rcrptrty ico make rrrysairs. if l:,ender r+rquircd mortgage insuranctt .+..
<br />ccx~dstc~r. a. mak;ag tlac floats sccure.:i try this Monga$c. 13arroa,yr stsalt pay the premiums rc~uirad to nxaintain sorb
<br />ufauranc;+e in eilecr rmiil such. tints. as the sz.yusrttntat for vuclx snturancc tez•snroat.rs in arcordanz wth Plnarower's :and
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