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<br />Urttroxat Cavt?rrxt?rs. Banower and Lender covenant and agree as foftaws:
<br />3. i'aymsnt al' Pr7me~a1 and Tn3areat. Borrower shall promptly pay when due 4he principal of and interest on the
<br />iadebzedriess evidenced by tl?o l+tote, prepayment and late charges as provided in the Note, and the prirtcipsl of and interest
<br />on any Future Advances secured by ibis Mortgage.
<br />Z. Fns for Tales and Trtsarance. a^ubject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />[o Ixnderon rite day rnantltiy installments of principal-and interest arc payable under rite ivats, until the foie is paid in full,
<br />a stun ~tereia "Funds") gaual to one-iwslpttt of the yearly taxes and assessments which may attain priority- over -this
<br />Mortgage, and ground tents an the Prap~..rty, if any, plus one-twelfth of yearly premium installments for hazartt insurance:
<br />.plus arts-twelfrh of yearly prertttum installments for mortgage insurance, if any, ail as reasonably estimated initially and from
<br />time to time by Lender oa the psis of assessments and bills attd ressonatsls estimates thereof.
<br />g Eunds sltali be #~Id in an institution the deceits ar accounts of which are insured or guaranteed by a Federal or
<br />stare agency tinslttding Leader if Lender is such an institution}: Lender shall apply the Funds to pay said taxes, assessatent$,
<br />insurance premittrns and grotmd rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable Law
<br />permits Lender to make such a charge. Borrower and Lender may agree its writing at the time of execution o€ this
<br />Mortgage that interest on the Ftmds shall be paKf to Borrower, and unless such agreement is made or applicable law
<br />.requires such interest to be paid, Lender shall net ix required to pay Harrower any interest ar earnings oo-the Funds: Tinder
<br />shall give to Borntwer, without charge, an annual accounting of the Funds slsowiag credits and debits to -the Funds and the
<br />purpose for which each debit to the Funds was malt. The Funds ere pledged as additional security, for the sums ucur~cd
<br />6y this Mortgage.
<br />If *,he amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />aaseaameats, insurance premiums and gmuad rents as [hey fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid [o Borrower or credited to Bo'rawer on monthly installments of Funds. If the amount of ehe Funds
<br />hdd by I.endsr shag ^aY be sufficient to pay taxis, assessments, insurance premiums artd ground rents as they fai4 due,
<br />Borrower shall pay to Leader any amount necessary to make up the deficiency within 3t) days from the da#e notice is mailed
<br />by Lender to grower requesting'payment thereof.
<br />Upon payeteat is full of all atuas secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />held by Lsnder. It wader paragraph I8 hereof the Froperty is Bald or the Property is otherwise acquired by Lender, L.ettder
<br />shall apply, na later than immediately prier To the sale of the Property or its acquisition by L>°nder, ,any Funds held by
<br />Leader at the tirtte of appG_'atian as a credit against the sums secured 6y this Mortgage.
<br />3. AppScation of Paymasfa, Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs i and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by 89rrowsr
<br />under paragraph 2 hereof, then to interest payable on the Nots, thin to the principal of the No[e, and then to interest -and
<br />principal an any Future Advances.
<br />d. Charges; Hens. Borrower shall pay all taxes, assessments and other charges, fines and "impositions attributable to
<br />the Property which may attain a priority over this Mortgage, and leasehold payments ar ground rants, if any, in the meaner
<br />provided undo paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, dit~tly to the
<br />payee thereof. Batrowtr shall promptly furnish tci Leader all notices of amounts due under [his paragraph, and in the event
<br />Borrower shall make payment directly, Borrower shall promptly furnish to 'L,.^ndsr receipts evidencing such gayme:
<br />Harrower shall promptly discaargc any tisn which has priority aver this Mortgage; provided, that Harrower shall not be
<br />required to discharge any such lien so long as Borrower shalt agree in writing to the payment of the obligation secured by
<br />such lira in a manner acceptable to Lender, or shzl in good faith contest wch lien by, ar defend enforcement of such ilea in,
<br />legal proceedings which operate to prevent .he enforcemem o€ the "elan or forfeiture of the Property or any part thereof.
<br />S. litazard Insurance. Harrower shall keep th° improvemenu now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the terra "extended coverage", and such other hazards as Lender may require
<br />sad is such amounts and for such periods as Lender may require; provided, that Lender shall riot require chat the amount of
<br />such coverage exceed that amount of coverage required to gay the sums secured by this Mortgage.
<br />'f;t2 iretu^ante caarr~r providing z.°te insurance shall be :'tosea by Harrower subject to approval by Lsnder, provided,
<br />that such approval shall teat be unreasonably withheld. All premiums on insurance policies shall hs paid is the manner
<br />provided under paragraph ~ hereof or, if not paid in such meaner, by Borrower making paymem> when due, directly to fire
<br />insutatacs carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lender end shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lauder. Lsnder shall have the right to hold the policies and renewals thereof,
<br />and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. Io the event of lass.
<br />Harrower Mall give prompt entree to the insurance carrier and Lender, lender may make proof of lass if net made promptly
<br />by Harrower.
<br />Uatess Leader and Harrower otherwise agree in writing, insurance proceeds shad be applied to restoration or repair of
<br />the Property damaged, provided such restoration ar repair is economically feasible and the security of this Mortgage is
<br />not thereby impaired. If web restoration ar repair is net economically feasible or if the security of this Mortgage would
<br />be impaired, the insurance proceeds shall be applied to the sums secured 'ay this Mortgage, with the excess, if any, paid
<br />to Borrower, Tf the Property is abandoned by Borrower, or if Harrower fails to respond to Leader within 3Q days from the
<br />date notice is mailed by T,srtdsr Yo Borrower chat the insurance carrier aiLers ro settle a claim far insurance benefits, Lender
<br />is authorized to caUect and apply the insurance proceeds aY Lender's apEion either to restoration or repair of the Property
<br />or to the sums secured by this Mortgage.
<br />Lrnless L.sndor and Harrower aTs[tenvise agree in writing, any such application of proceeds to principal shall nrft exteait
<br />ar pastporte the dos Bats of the monthly installments referred fo in paragraphs 1 and 2 hereof or change €he amount of
<br />leech installments. Lf tmdet paragraph 18 hereof the Property is acquired by Leader,-ell. right, ti6e and "interest of Borrower
<br />is sad to any imuraace ga[icies and in and [o the groceetls thereof resulting from damage to the Property poor to the sale
<br />ar xcquisi;ion shall to Leader to the extent of the rims secured by this Mortgage immediately prier €o suelt sale or
<br />acquisition.
<br />~. >9reseava~n and Mainteaaace of Pzaperty; Ltasehaldst Condominiums: Planned Unit pevebpments. Borrowtr
<br />shall kelp the Prep>rty in good repair and shall not commit warts or permit impairment ar deterioration of the Property
<br />and sltll s~nply with the provisions of any !°~ if thss Mortgage is oa a ieasehoid. If this Mortgage is oa a unit is a
<br />candontutium or a preened unit develapateat, Borrower shall perform. ail of Borrows€ s obligations under the declaration
<br />ar v~W crea.::.a ar gaverring the eaadaminium ar glarasd unit development, the by-laws and regulations -af the
<br />condominium ar planned emit deveiogrtrent and constrrtuent documents. ff a coadominitmt or planned unit development
<br />ra#r is execut~l by Harrower and recorded together with this Mortgage, the. covenants- and agreegt£recs of such rides
<br />ttba i~ isito sad shall amend and supplement-the covenants aad,agreetnents of this Mortgage as if the rider
<br />woe a part hereof,
<br />7, ;Prate ~ Leader's 8ee!. if Borrower #ails to perform the s:ovenants and- agcrements contained in this
<br />Martga;ps, ortf any amine or pracesding is cammeasxd -which materially alfscts Lender's interest. in -the .Property,
<br />it~iuding, Inrt titx Iittinsd tc, emis~ttt domain; inssylveacy; egtie snfat`ceiitent, or arrangemeafs or proddings, iuvalving a
<br />Bankrupt ar decedent, them Leader at Ltixiler's option, upon i~iti#ioe to 1TOrrower, ma;± make-such appearsncess, du6urse leech.
<br />sums sad to&$ such aka as is neetssary to protect Tenders ititeresT, incletdittg, but ant- 1"rmited fo, disbursstnent of
<br />rttasonable axtorney's fees and entry upon the Fttiperty to-.make repairs. I€ Lender required mortgage insurance as a
<br />condition of making [he Ioan secured tr~ this Mortgage, 8arroWer shall- pay rho preminius required to [naintain atech
<br />insetraace in effect merit-such time as ~ requirement-for syeh insurance terrainatss in aceardance with $ortxtwers and
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