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<br />UtvipoxivtCovErsnxn: Borrower andLendcr covenant and, agree as follows:
<br />- i. 1!aymentoPprlnrlpdand'Intercsit..8orrowershail;promptlypay when due the principal of and int~rest ore the '
<br />indebtedness evidenced by the Note, prepayment andiatecharges as providedin the Note, and thcprincipal of and interest.
<br />on any Future Addances secured by this Mortgage.
<br />2. 1Fnnds for Toes and Insurance. Subject to appiicaDie law or to a written waiver' by Lender, Borrower shall pav
<br />- to Lender on fete day monthly;instaIImentsaf principal andinterest arepayab]e under the Note; until thcNotc Is paid in full
<br />a suta.(hercin "F;rndi 7 equsl to one-twelfM of the yearly taxes and assessmrnir which may attain priority over this
<br />Mortrjage, and ground rents on the propertyrif any, plus oneâ˘twdith of yearly-premium installmcntsfor hazard iasurencr.
<br />plus one-[wdith ofyearly premium installmentsfor mortgage insurance, if any, all asreasnnably estimated initlalt¢and From-
<br />tfine to dine byLender on the basis of assessments and bills .and veasonabfe estimates thereof.
<br />Tlte'Funds shall be teld in an ipstitution the depoaiu or accounts of which are insured or guaranteed by a Federal or
<br />state agency. (including Lender if Lender is Buchan institution). Lender shaA apply the Funds to paysa;d lases: assessment>,
<br />irssurancepremiumsand Sround rents... Lender may not chargefor so holding and applying the funds; analyztnc ,aid account-
<br />- arvetiiyingartd compiling said assessments and 6ilts,unleas Lender pavs.Borrower in[eresranahaFundsand. appliahle lase'
<br />permits: Lender to make such i charge.. ' Borrower and Lender .may agree in writing at. the time of execution of this
<br />Mortgage that interest on the Funds shat! hs paid to Borrower, and. unless such agreement i+ made:. or appGcahle taw
<br />requires such interest to tx paid,.Lender shalt not Ise requiredtopay Borrower tiny intcresrorcarnings'on the Funds. I ender
<br />shall give to Borrower; without thaige, art annual accounting of the F'vnd+ showing credits and debits io'thc Fundsand the
<br />purposr tot which each debirro the Funds was made. The Funds are pledged rs. additional security for the gums secured
<br />by this Mortgage. '
<br />If theamovntof the Funds hdd by Lender. rogether withthe future monthly installments of Fund+ payablepnur eo.
<br />tbadue dalnoftues: assessmenu, insurance'premiumsandground rents, shad e~cecd theamountrequired to pay said laze>;:
<br />:assessments, insurance premiums. and ground rents as they fall due, such excess shalt be, at Borrower's option, crthcr
<br />pramptty repaid to Borrowerorc~edired ro Bonawer on monthly installmenss of'.Funds. If the amount of the Furtds
<br />: hdd by:LendecsF.all not 6e auttideat to pay saxes, assessments, insurance premiums :and-ground rents.. as they fatl..dcc.
<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 Leaderto Borrower reques[ing payment thereof`-
<br />Upon payment in full of all sums secured.. by this Mortgage- Lender shall promptly refund to Borrower any Funds
<br />6eldbyLender. If under paragraph. ighersofihe Progeny issotd orthc.Property is otherwise acquired,.by Lender:.. Lender
<br />eLall apply, no later thaniaunediately. prior to the sakof the Propengor its. acquisition by Lender, any. Funds held-hy
<br />: Lender u the time ofapplicationasa credit against the sums secured by. this btortgage. ,
<br />' a. A~/Fieitbd of Parmests. Unless apphuble law provide othetwix, a!I payments received by Lender under he
<br />"Notrand paragraphsl atsdZ hercuf shall beapplicd'byLender fintin payment of amountspayableto LenderbyBorrower
<br />trader pat graph 2 hereof, then to intuest payable on hr Note; thrn to the principil of the Note, and then io interest and
<br />principil on any Future Advances.
<br />d. Ciugp; IJens. Borrower shall pay ill taxes, asscssmenu and other charges, fines and Impositions attnbatable ro
<br />tJfa li'ropeRy which may attain a priority over this Mortgage, and leuehotd payments or ground rents, if any, in the manner
<br />provided under pua~raph 2 hereof ox; if not paid in such manna, by,Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shall ptotnptiyfumuh to Lenderill notim of-amouna due under thiiparagraph, and io the event
<br />Borrower shill make payment directly, Borrower shelf promptly furnish to Lender receipts evidencing such paymem+.
<br />BorroweCShill. promptly discharge any lien which has pnonty over this Mortgage: provided, that Borrower shall ,not he
<br />rrssquired to discharge any such. lien w Tong as Borrower; shall agree is writing to'thc payment of the obligation secured by
<br />auchlien in ~ tifrnner tceepuDle to Ltndec, or shall in good faith contestsuch1ieroby, or defend enforcement of such lien iu,
<br />tsgil proceedings which operate to prevent the enforcement of the hcm'or forfeiture of the Property or any part thereof.
<br />5. :INaaardIasttnnu.. Borrower shallkeep the improvemennnow: existing or hereafterercctcd on the , .petty insured.
<br />agatrut loss:by Ate, hazards incEttded within ehr term "extended coverage", and such other hazards as Lender rainy reyuuc
<br />and in such amounts and fnr such psriodsu Lender may require: provided, that Lender shalt not require that the amnurtr of
<br />'such coverage exceed'that amount of coverage required to pay tht sums secured Dy, thls Mortgage.
<br />'Ihe insurance carrier providing the insurance shalt be chosen by Harrower subject to approval by`Lender, ptovtdod.
<br />that such. approval shall not fx unreaurnabiy withheld. All premturns oo insurance polities shall be paid m ,the manner
<br />provided under pun;rap6 2 hereof'or, if not paid iasuch manner, by Borrowu making payrnent, when: due, direcHy to the
<br />insurance carrier. `
<br />All ituunnce policies and renewals thereof shall be in form acceptable to Lender and shalt Include a standard mortgage
<br />clause in favor. o[ and inform acceptable m Lender, [.ender shaft have the right. to hold the policies and renewals. thereof,
<br />and llorrowet shall promptly [urau6 to Leixier ill'renewal notices and'all receipts. of paid premiums. In the event of toss,
<br />Borrowu shall give prompt notice to the insurance carrier and ixnder. Lender mayrmakc proof of loss it not made promptly `,
<br />by Borrower.
<br />Unless Lender and Hor:arer otherwise agree in.writing, insurance proceeds shall be applied to restoration or repair of
<br />"the proptrey damaged, provided such restoration or repair, is,ecotwmicaily feasible and the: security of stets .Mortgage rs
<br />not thereby impaired. It such restoration or repair is not economically-feasible or if the security of this Mortgage would
<br />tie impaired, ffie mauratstx proceeds shall be applied to the' saran secured by ffiis Mortgage, with the excess, if any, paid
<br />o Borrotru. If the Property. issabatsdoned by Borrower, ortf Borrower tails to respond to Lcnderwrthin 30 days. from the
<br />date antics is-mailed by Lendec:tollorrower that the iasurancecarricroffers io settle a claim for Insurance benefits, Lender
<br />is atu6oriud us coiled and apply the insurance proceeds at Lender's option either to restoration or repair aE the: Property
<br />a to ttie slims secured by this Mortgage
<br />Udea Leader'atsd Borrower otherwise agree in-writing, any such application of proceeds. to principal shall not extend
<br />or postpone the dtse" dau of i:he taonr6ly inuatlrnents referred to in paragraphs 1' and 2 hereof or Change rtes amount of
<br />such insLllments. If undetparaYraph.I8 bemof the Property' is acquired by Lender. all right, iitk sad interest of Borrower
<br />io and to`any ittsurwcc polic±a and io and to the.proceeds tberoof resulting from.: damage to be Property prior to=the ulc
<br />or acquisition shill` pus to lxnder to the ezunr of the auras secured by this Mortgage Imnicd;a[dy prior. [o such sacs or
<br />acquisition.
<br />f. Ih~ervatlw:. an/ Mamtewancr of Property; Leaseholds; Condomiviums; Planned Unit Developments.. Borrower
<br />,.shaB.keop tlscProperty ingood repair and shallnot commi4 wastsorpermitirnpairment or deterorafidn of .the Property .
<br />and shiltrnmplywisb theprovisions of: any least ifthis.Mortgage is on a leasehold. If,this Mortgage is ono unet in a
<br />coodominiumoraplaanedtusit ~ydopmeat,Borrowcr shall performill of Borrower's obligattoraunder thedcclaratian
<br />or covenants ueatiag or governing tht condomniwn or'ptanned unit devetopaxnt, the by-laws and regolations of thr
<br />eondominrttm orplartnedutsit developtnenr, and constittxnr documents- If a rnadomsnium. or planned. un~tdevelopnient
<br />tiler is.ea<ccoted by.:8ortowet andrecorded together with this Mortgage, thecovenant-s and agreements ot. such rid,:r
<br />xhali Ise' incorpiorated into sad shall atncnd and supplement the covenants and agreemeuts of this Mortgage as if the rider
<br />were a part hereof. '
<br />i. Trstectiaa of L,eiders 5eawriq. If Borrower fails to perform Ute covenants and-.agreemenu contained In Chu
<br />Mortgage, or if nay.. acttoa_or prottt+eding a ct>mmcrtccd which materially affects Lendcri interest in the, Prupeny,
<br />including, but [wt limited Eo. etainent dotrtain, ittsOlvertCy, code enforcement, or arrangements or proceedings Involving a-
<br />batiltnipt or decedent. then Lcttder rt Lender's option, upon notice to Borrower, may mays Such appearances, disburse such
<br />s:ims and take such acaion u ix txxeuary to protect Lender's interest, tstcluding, but not lmitcd to, dlsbursemcnt r+f.
<br />teasenabtc atroraty's fcsa aadsmtry upon the-Property tomake repairs. lfLendet rei7uired mortgagr msurancs ax a
<br />eoretlij~n at making the taan secured by this Mortgage, Bontrtier shat! pay the p:crfiums required. to maintain such
<br />irnl=astce in effect ;lnti7 sash time as ttu. requireraeast for such Insurance. [srminates in accardsrn:e write Borrower' end
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