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<br />82-=- i3Cs2354
<br />Uxreoxnr CovxxnN•rs. Borrower and Lender covenent and agree as followsr
<br />1. Payment of Prlndpal.aadInferest. Borrower shalt promptly pay when duehe principalof and interest'on the
<br />indebtedness evidenced by the Note; prepayment and)ate charges as provided in the Note, and the principal: of and. interest
<br />on any Future. Advances ,ectrred by this Mortgage..
<br />2 Fends for Taxes-aad Iasorance. Subject to,appGcable law or to a written waiver by .Lender, Borrower shalt pay
<br />to Lender on the day thonthly-installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a stun (herein`."Funds") equal>to ane-twelfth of the yearly razes and assessments which may attain priority over this
<br />Mortgage, and ground rents on thePrdpcrty; if any; plus ane-twelfth of yearly premium installments forhazardrnsurance,
<br />plusonA-twelfth of yearly pretnium installments for`mortgage insurance; if any; all as reasonably estimated initially and'from
<br />time to time-by Ltndernn the basis ofassessments and bills and reasonable estimates thereoL
<br />"IBe Funds shall be hetdrin an institution ihe. depositsror accounts of tyhich are insured or guaranteed 6y a Federal or
<br />stateagency (including'Lender if Lnnder: is such aninstitutiooj. Lender shallapply ihe Funds to:paysaid taxes, assessments,
<br />insurance premiums and ground tents. Lender may not charge fiarso holding and applying the Funds; analyzing said account,
<br />or verifying and compiling said assessments and bills; anless Lender pays BorroweB interest on the Funds and;applicatife'law
<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 Feuds-shall -be paid to Borrower, and unless 'such agreement is made or applicable law
<br />requires suckinterest to be paid; Lender shall not be required to pay Barrower anyinterest or earnings on-the Funds. Lender
<br />shall: give zo Borrower, without-charge, an annual accounting. of ihe Funds showing credits and' debits to the Funds and the
<br />purpose forwhicheach debit to the Funds was made. The Funds .are pledged. as additional security for the sums secured
<br />6ythis Mortgage.,..
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior t.~
<br />ttte due dates of taxes; assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, insurance premiumsand 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 su8'icient to pay taxes, assessments, insurance premiums and ground rents as they fall due:
<br />Borrower shall pay [o Lenderany amount necessaryta make up the deficiencywithin 30 days fromthe date noticeis malted
<br />by Lenderto'Borrower:requestingpaymentthereof.
<br />UponpayroentinfulL ofall sums secured. by this Mortgage. Lender shalLpromptly refundto Borrower:any.:Funds
<br />heldbgLender. If under. paragraphlghereof the:Propertgissoid or theProperty isotherwise acgtnredby Lender,Lender :
<br />ska11apply;na latecthan inunediately prior tothe sale aP the Property or its-acquisitionby Lender. any Funds held, by
<br />Lender at he time of application as a crediP againsrthe sums secured by this Mortgage.,
<br />3. Ap~lict+tion of Payaeets. Unless applicable law. provides otherwise, all payments received by Lender under the
<br />Note and paragraphs land 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borzower
<br />under paragraph ?hereof; theatointerest payable on the Note; then to the principal of .the Note, and then to interest and
<br />principal on any Futtue Advances:
<br />4. Chatxea; Liamt.'Borrower shall pay all taxes, assessments and ether charges.. fines and impositions attnbutable to
<br />the:Property whichmayattainapriority overthis h#artgage; and leasehold payments orground rents, if any;i.n themanner
<br />provided under paragraph 2 hereof or, if not paid insuch manner; by Borrower making`. payment;,whemdue: directly to the
<br />payee thereof. $orrower shall :promptly furnish to Lender alJ notices of amounts due under this .paragraph,. and in the event
<br />Borrower shalt make, payment directly, Borrower shall .promptly furnish to Lender receipts evidencing"`such payments.
<br />Borrower shall promptiydischarge anylienwhich has, priority over thisMortgaget provided, thaLBorrower shall :not he
<br />required [o: dischargeanysuch:3ien so longasBorrower shallagreein. writing to thepayment o£the obligation secured by
<br />such lien in a manner acceptable o Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevenrthe enfarcementaf the I:ed or forfeiture of ihe Property ac any part thereof.
<br />5. He=ard Itssuraott. Borrower shall keep. the improvements new existing ar hereafter erectedon the Property insured
<br />against loss by fire;'hazardsincluded within the term °extended coverage'". and such other hazards as Lender may regture
<br />and in suck amounts and forsueh periods as Lender may require; provided, that Lender shall not require that the amount of
<br />such coverage, exceed that amount of coverage required to pay the sums secured by this dvfortgage.
<br />"The insurance carrier providing the insurance shaltkie chasm by Borrower subject to,approval. by Zender;.provided,
<br />that. such approval shall not be'unreasonably withheld Alt premiums on insurance policies shall be; paid in the manner
<br />- provided under paragraph 2 hereof or, if notpaidinsuch manner; $y Borrower makinggaymen[, when due;directtyto. the
<br />insurance carrier.
<br />All insurance politics and renewals thereof shall be in form acceptable io Lendez and shall' include a standard mortgage
<br />clause in favor of attd inform acceptable to Lender: tender shall-have the right to hold the policies and aenewals thereof,
<br />and Hormwershall promptly furnish to Lender aIlgtnewal notices and all receipts oPpaid premiums: In the :event of loss,
<br />Borrawer shall>give prompt notice to the insurance carrier. and Lender... Lender may make. proof. of loss if not made promptly
<br />by`Barrower.
<br />`Unless Lender and Borrower otherwise agree in writing; insurance proceeds steal] be applied to restoration or repair of
<br />the Property damaged; providedsuch restoration orrepair is economically feasible and ihe security of. this Mortgage is.
<br />not-. therebgimpaired:.If suck restoration orrepair is not economically feasible orif the security o€ this`Mortgagc would
<br />be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any; paid
<br />to Borrower, It the Property is abandoned by Borrower,. pr if Borrower tails. to respond to Lender within 30 days from. the
<br />date:netice ismailed by::Lender to Borrower that the insurance carrier offerstosettle'a claim. for insurance benefits,.LendeY.
<br />is authorized to c;oUect and apply:: the insurance proceeds at Lender's option either to restoration or repair of he Properly
<br />or to tke sums secured by this: Mortgage. ;
<br />Unless Lender: and Borrower 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 1 and 2 hereof or change the amount of
<br />such installments, if under paragrapk 18 hereof the Property is acqurred by Lender, all right, title and nte>es[ of Borrower
<br />inand to anyinsurancepalicies and in and;toiheproceeds thereof resulting,from damageto the Property priorao the sole
<br />or acquisition steallpassao Lender to the extent ofake sums secured bythis.Mortgaga immediately. grior tosuch sale or
<br />acquisition.
<br />6. Pceservatioaand Maintenanceof.Propetty Leaseholds; Cnndominiums;.Pianned Unit [7evelopmen2s. :Borrower
<br />.shelf keepahe Propertgin goodrepair and skalLaot commit wasteror permit impairment or ifeterioration ofthe Property
<br />and-shall comgly with-the provisions of any,hase iE this Mortgage is ons leasehold. if this yortgage is on a unit in a
<br />condominium or a planned unit deveiapmenP, Borrower shaliperform alt of Borrower's obligations under thedcclaration
<br />e>r. coventantscreating or governing. the condominium ar.. planned lmit development, the by-laws and regulations of the
<br />condominium or planned. unit development; :rod cvnsthuent do<:umetits. If a candominfum,ar planned. unit devdapntent
<br />rider is executed by Barrower and:recordecltagether with tnis.Mortgagc, ti;e covenants and agreements. ~[ such rider
<br />s.isaBbe inca.:pnrated into and shaiiamend and. supplement the cavcnants and agreements. of this Mortgage as if tfre rider
<br />were a parlhcreof•
<br />7. Protection a# Ia^tnirr's Secualty. if Borrew~r falls to perform. the .covenants and agreements contained in this
<br />ilartgage, or +; any actpon _o;, graceedrng is eammenced which materially atfcets l:ender's interest ]n the P•olxrty,
<br />intludir~.. h+~t :+.o; limited to .•msnent domain, tnsalvcncy, code enfarcetncnt, or arrangements or prni:eetlirvgs invoh~ing a
<br />hanzrupt or dc, duct, ;he~a Lender :it Lender's optjim, open nauce. to Borrower, may make such appearances, disburse wch
<br />ceu;;s ant ;aE_ -~~4. ;scti~a as isaecessan~ ro pratcctl..endt^.is ;nteresr. including. but not lian.ited ta, dtisbursement of
<br />rcaxc ~ c :,tct~rne.'re tees xnd~tniry ular~n ihe Property to rtsake rcpairs~ Ii [_endmr required rn.*rtgage insurance as a
<br />.:;'+pdeuan ai ni ak:ng toe foan. securer3 by this Martgagc, Barzawer chaff }>ey the urerniunu rc<ia:ire+J. to na-trot ::n s±+.th
<br />tns~+rr::+= in rt`tc.t uotil .such time.:as the rcquuctnegi fur ,ugh insurance zerminatcs in ac:curdarxe with llortx.,wer'.+ ,uul
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