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~s- {~07f36~
<br />UxmoAtu COV~tdAtJT5. Borrower and Leader covenant and agree as foQows:
<br />i. Paymem of Prlac~al asd ingest. Borrower shalt prarmpity pay when dtu the principal of and interest on the
<br />iadcbtedness evidenced by the Nate, prepaytrteat cad late charges as provided in the Nate, and the principal of and interest
<br />on any Fttiure Advances secured by this Mortgage.
<br />Z. > for ~`aaw aad tasmraaee. Subject. W appHcabte law ar to a written waive:' by Lender; Horcower shah pay
<br />to I:eaiier an fhe day monthly instaitments of principal and interest are payable unifier rite Nate, tmU't the Note is paid in full,
<br />a sttm {ltato4~ "Funds"? ea>~al ro atte-twe~th of tt~ yearly -saxes and assessments which stay attain priority aver this
<br />Mortgage, and groirnd tents on the Property, if any, Pius one-twel€th of yearly premium instailttsanta €or hasard insurar~,
<br />gltta atwelfta of yearly-.premiuat instatitrtents for mottga~ insnraxce, if any, alt as reasonably estimated initiatlg and from
<br />eirtie to time ftp I~dcr on-the-aas~ of nrzn~ arro b'sits grad rea•anabk ~L~mate9 thereof.
<br />zhe Funds ahatl be ltsdd in an-ittstitntion the slepasits_or accounts of which are insured or guaranteed by a Federal or
<br />state agency {including Lender if Leader ~ such as iiintituttan?. Letuier-shah apply the Funds to pay said tai:es, assessments,
<br />ittstuaas premiums afire grauad reins; Lender may not charge for so hotiiing and applysng the Fiords, analyzing-said account,
<br />or verifying and compiling said assessments acrd hilts, aniett Linder pays Borrower interest on t)x Ftmds-and applicable law
<br />permits Leader to mako such a chore. Borrower -and Lender may agree in writing at the. time of eaetvtion of this
<br />Mortgage that interest on tire- Funds slraH be paid is Harrower, -and ttaless st~h agreement is made or apptis:abk law
<br />requires strch interest to be paid; Lender shah not be required to pay Borrower any interest or earnings oa the Fonds. Lender
<br />shall give to Horrower, without charge, an aonuai accounting of -the Farads showing credits and debits to the- Funds and -the
<br />ptrtpose for which each debit to the Funds was made. -The. Funds are pledged as additional security for -she sums secured
<br />by this Mortgage.
<br />If the amount or the Furrde head- by Lender, together with ilte future trronthly instaitrtrenu of Funds payable prior to
<br />the due dais of rases, assessments, ir~ueance premiums-and ground renic, shall exceed the amoun*. required w pay sa:d tasea,
<br />asstztameats, insttraace premiums and ground rents as they -fall due, such extxss shall 6e. at Borrower's option, either
<br />promgtty repaid to Borrower ar credited to Borrower on monthly instafhtrenis of Fins. If the amount. of the Fttrrds
<br />held fry Lender shall net be s»8tcient to pay taxes, assessments, insurance premiums and ground rears u they fall due,
<br />Horrawer ahatl pay to Lender any amount necessary to make uP the deficiency within 30 days from the date notice is mailed
<br />by Letmer to Batfawer requesting' payment thereof.
<br />Upon payment in full of sit stuns secured by this Mortgage, lender shalt promptly refund to Borrower any Fonda
<br />herd by Lender. If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Exudes, Lender
<br />ahtilt apply, no later than immediately prior to the sail of the property ar its aaquidtion by Lender, nay Funds held by
<br />Leader at the time of applicati9a as a credit against the sums secured by this Mortgage.
<br />~_ of Paymsats. Uatess applicable law provides otherwise. alt Payments received by Lender under the
<br />Nate and paragraphs 1 and 2 hereof shat! be applied by Lender first in payment at amounts payable to Exudes by Horrower
<br />under paragraph ~ hereof, then to interest payable on the Note, then to the Principal of the Note, and then to interest and
<br />principal on any Future Advarrtxs.
<br />4. Chargrsy Dare. Borrower shall pay alt saxes, assessments and other chazges, fines and impo~tions attribntabte to
<br />the Property wh~tt (nay attain a priority over this Mortgage, aril leasehold payments or proved rears, if any, in the mancer
<br />provided tmder pazagraph 2 hereof or, if not paid is such manner, lty Borrower making payment, when due, directly to the
<br />- payee thereof. Harrower stsall promptly furnish to Lender all ttatices of amounts due under this paragraph, and is the event
<br />Borrower shall make payment direclly, Bauower shall promptly furnish to Leader receipts evidencing such pas~,ents.-
<br />Horrawer shall promptly discharge any Hea which has priority over this Mortgage; pmvideEl, that Borrowei shall not be_
<br />regi,-'recE [o discharge any such lien sa tang as Borrower shall agree in writing to the payment- of the. obligation secu.~~ try
<br />such Hen is a ^±a~*~°-r aacegeable to Leader, or shaft in good faittr contest such Hen by, ar defend enforcement of such liei fist;
<br />}eBai groceediags which operate to prevent the erifarcetnent of the Hen or forfeiture of the Property or app -part titerebf;
<br />S. t I>ataatr~ce= Borrower shall keep the improvements new existing or hereafter erected on the Property iasuteti
<br />against toss icy fire, hazards. inchtded within the term "extended cmerage", and such other hazards as Leader may requite
<br />and is such antaunts and far such periods as Lender may require; provided, that Lender shalt roil requite that [he amount of
<br />stub coverage exceed-that amount of coverage required to pay the s,rtns secured by this Mortgage.
<br />13re i~urattce carrier providing the iasursnce short be chorea by Borrower subject io approval by 1<.ender, pro4idecf,
<br />that such approval shall not be ttnreasanabiy withheld. All premiums on insurance policies shall be paid- in the mantmr
<br />provided tittles paragraph 2 hereof or, if net paid is such manner, 6y Harrower making paym~t, when due. directly to-the
<br />ittstaanee carrier. - -
<br />Alt insurance policies and renewals thereof shall be in form aceeptabie to Lender and shall include a standard mortgage:
<br />clause in favor of and is form acceptable to L.endee. Leader shall have the right to hold the pnlicies and renewals thereof,
<br />aril Hotmwer shall prttmpt[y furnish to Lender all renewal notices and all receipts of paid premirmc, Io the event of lass;
<br />8arrower shall give prompt notice to the insurance carrier and Lender. Lender gray make ixaof of loan if not made promptly
<br />by Barrawes.
<br />Ualesa Lender and Horrawer otherwise afire=. in writing, insuranex proceeds shall be applied to restoration or repair. of
<br />the Property damaged, provided such restoration or repair is ecaramicalty feasible and the security of this Mortgage is
<br />not thereby unpaired. If such restoration or repair is not economically feasible or if the seetuity of this korgage would
<br />be impaired, the inatuanrx proc~is shall be applied to the sums secured by this Mortgage, with the exce~, ff any, paid
<br />to Bormaer. If the Property is abandoned by Harrower, or if Harrower fails to respond to Lender within 30 days from the
<br />date notice is matted n)' Lender to Borrower that the insurance carrier- offers to settle a claim for insurance benefits, Leader
<br />is atuhorized to correct and-apply-the insurance proceeds at Lendei s option either to restoraEion or repair of the Property
<br />or to the auras secured by this- Mortgage.
<br />Unless Lender aril Borrower otherwise agree in writing, any such appticatiaa of Procceas to priticipat shad. net extert±
<br />or postpone the due date of the monthly iastaihneats referred to in paragraphs 1 and 2 hereof or change the antoani of
<br />stmh installment: If raider paragraph 28 hereof the Property i& acquired. by Lander, alt right, 5tie and interest of Borrower:
<br />in and to any ittsttraace politaes acid in and to the proceeds thereof resulting from damage to the Property prior to the sate-
<br />or acquisition shah pass ta Exudes to tie extent of the sums secured icy this Mortgage immediately-prior to such sate or
<br />~•
<br />~. -- - ~ Yrogerty, I.tu Coad+a-'-`-~; -Piaan;d U;aB DegeFap~a~. -Borrttwci
<br />obeli peep the Ptsrperty is good repair cad ahaB-net-commit waste or peimit itttpaitarent or detesiotatiotr,of the-Property
<br />atul shelf cotnpiy with the provisions of auq lease if this tvforigege is on a IeasehoM, If this Adortga$e is- on. a uttii in -a
<br />cx»>d~inittat or a piaamdJ: unit devetot, Harrower shat( perforu..atF- of Botrowet's obHgatians under the dectarstibti
<br />' ~ cotvsaanES-eteatin>r or,gttYerning the coadaminium ar plainsed 'nit develogaxnt, the ly-laws aril te¢ulatinns of the
<br />ar ptan~d urm. deuctopmeat, and sotistituent doctuneitts_ If a crmdomutittm. ar pYasaed. unit devetopmettt
<br />rim is fisted be Hrarra+!~ :cud tom. togetlrsa witit this Mbrtgags;_ the covi;aantn aml.. agreeanertte of stilt 7[ider
<br />shall hhe iaarpo iaW arul shslY n~ asd ~t Uie covenants aril ~-,cif this mortgage. as'if the rider
<br />went a Fait hereof.
<br />7. Pty of I,~der`s Secisilr,- it` Horrawer,fails to perform the covenants rwd agmements confaineil in (,'tis
<br />Mortgage, or if any action: or proceeding is commenced which materially affects Leetder`s interest in ~ PrupeRy,
<br />including; but pat limited to, ctninent domain. insalvwcy, code: enforcement, ar atrangGn2Clita or proceedings utvptving a
<br />hattkrupt ar decedent, ?hen Lendtr at i.ender's aPcian, rtpaa taotitx to 13ormxver, tray make'stich app~rancEa;;,disbu;be. such
<br />sums and take such action as is vecessary to prateet__Lander's iaterst, irieltrding. bur not limited-ta, -disbtttsement of
<br />rraersna.hfc nttnrngy c fFr... 3.n~1 cntrv i+,ic ut_i+ ~._Pr~eel~- tn:ts~3ic~ re_nair±::_- €f J_~ttt~Cl' rGinilrEd tnQltgaR_C lrt5tiC8nGe-. 89 a _
<br />wnditic~ df mukint; inert aecutati fry thin. ~fvitgagi; Hatrowri obeli pay. (tie premiums requii+ett to maintain srtch
<br />iusurautx-in effect unlit -each bate as the regtiirxmant -fps stieh-insurancei: tertitinatea in accordance with Bortxrwar's and
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