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<br />7S-a~ Ei 331 ~ 4
<br />Uxrroattt Covexhxrs. Borrower and ).ender covenant and agree as follows:
<br />2. Payment oP Prfnctpal atstl IateresA Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and-late charges as provided in the Note, and the principal of and interest
<br />an any Fuhtre Advances secured by this Mortgage:
<br />2. i7va~ for Tazee trnd Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to %ender oft fire day aroattilp instailmcats of ptincipar and ittter~,t are payable-under 4he i Tote. until the irate is p-a-KI is fall.
<br />a stlm (herein "Ptihds"} egtral-ta 9ne-twolftle of the yearly ta:ces and as~ssments which may attain priority over this
<br />Mortgage, snd ground rents on the Property, if any, plus one-twelfth of yearly-premium instaUmeats far hazard insurance,
<br />pith oae•twetfth of yearly premium installments flu marigage insnrancc, if any; all as reasonably estimated initially and from
<br />Limo to time trq iettdcr on fire basis a# as~sments and bills and- reasonable estimates thereof.
<br />The Ftt~s shall lu lreld in an instatutiaa-the deposits_or aecannts of which are irtsured or guaranteed by a Faleral or
<br />state agency {including i.ersder i# tender is-such an instigation). Ierrder shall apply the Funds to pay said texts, assessmerts,
<br />insurance premiums and ground rears. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or vorifying 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 in writing at the time of execution of this
<br />Mortgage that interest On the Funds shall be paid to Borrower, and unless such agrcerttmt is made or applicable law
<br />requires suata interest to be paid, Lender shall not be required to pay Borrowee any interest or earnings an the Funds. Lender
<br />ahaU give to Borrower, without charge, an annual accounting of the Funds showing credi+s and debits to the Funds acid the
<br />'- purpose far which each debit to the Funds was made. Tire Funds are pledged as .additional security far rise sums secured
<br />by this Marigage.
<br />If the anaoum of the Funds held by Leader, together with the future monthly installments o€ Funds payable prior to
<br />the titre dates of taxes, sssessments, insurance premiums and ground rents, shall exceed the amotmt required [o pay said taxes,
<br />assessments, insurance premiums end ground rents as they fall due, such excess shall be, at l3otrower s aptian, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />herd by Lender shall not be stafficrem to pay taxes, assessments, insurance premiums and ground rents as they €all due,
<br />Borrower shall pay W Lender any amount necessary to make up the deficiency within 30 days from the date notix is mail
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Mortgage, Lender shall gromgdy refund to Borrower-any Funds
<br />held by Lender. If uncle: paragraph I$ hereof the Property is sold or the Property is otherwise acquired by header, Lentkr
<br />shall apply, tso later than immediately prior to the sale of the Property or its acquisition by rundtL, any Funds held by
<br />Lander at the- time of application as a credit against the sums secured by this Mortgage.
<br />3, A~ieatlaa of Paaymeats. Ltnless 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 amo.rats payable to Lender by Harrower
<br />trader paragraph 2 hereof, tlren to interest payable on the Note, thou to the principal of the Note, and then to irNerest and
<br />principal on any Future Advances.
<br />A. Cbatgts; I3eras. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
<br />the Pragetty which may attain a pri>arity over this Mortgage, and leasehold payments or ground rents, i# any, in the maaaer
<br />provided tender paragraph 2 hereof or, if not paid in such manner, by Borrower tnal;iag aayment, when tine, diaetxly to the
<br />payee thereof. Borrower shalt promptly furnish to Lender all notices of amounts due urnler this paragraph, and in the r.cnt
<br />°.cazrowxr shall rnalrc I'<3„>cnt directly, Bavrower she{! prompiiy furnish to Lender receipts evi~nciitg st~h paytncnts.
<br />Harrower shall prompdy discharge any lien which has priority over this Ivlorigage, provided, that Borrower shall rat be
<br />required to discharge any stash tier str long as Borrower shad agree in wrung to the payment pf the obligation secured lay
<br />such Tien in a manrrer acceptable to Lender, or shah in goad faith contest such lies b}^, or defend enforcement of such tiro in,
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property ar any part thereof.
<br />5. 1f Iasssrapce. Borrower shall keep the impmvemcnts now existing or hereafter erected on the Property insured
<br />agairass loss by &re, hazards included within the term "extended coverage", and such other hazards as Lender may regtaire
<br />attd is such amounts aml for such periods as Lander may require; Provided, that Lender shalt not require that the amount of
<br />such coverage exceed the*. amount of coverage required to pay the sums secured by this Mortgage.
<br />The;t~tara~e carrier providing the inswaace shall be chosen by Borrower subjcet to approver try Lerttfer; provided,
<br />that such approver shall cot ~ tnareasanably withheld. All premiums on insurance policies shall be paid in the manner
<br />provided wader paragraph 2 hereof or, if not paid is such rtaanner, by Borrower making payment, when titre, directlq to the
<br />insurance carrier:
<br />All icsurance policies and renewals tltereaf shall Ix in form acceptable to Lander and shalt 'seclude a standard mortgage
<br />clatase in favor of and is farm acceptable to Lender. Lender shall have tits right to hold the policies and renewals thetec?f;
<br />and Borrower shall promptly fttraish to Lender all renewal notices and all receipts of paid premiums. In the event of Lass,
<br />Ho'rower shall g_tvs prompt notice to the i~~transc ~srier and Lcra>!tr. Lt`ttder may make prn?f of loss if rat made gratrtptiy
<br />6y Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall lac appUed to restoration or repair of
<br />the Property damaged, provided such restoration at repair is ecanomicaUy feasible and the security of this Mortgage is
<br />not thereby impaired. If such restoration or repair is not econotttically feasible ar if the security of ibis Mortgage w~autd
<br />be impaired, the irist.traace proceeds shall lac applied to the sums secured by this Mortgage, with the excess, if any, paid
<br />to Borrower= If fire Pmpertp is abandoned by Harrower, or if Borrower fails to respond to Lender witlnn 30 days from the
<br />date aatice is mailed by Lender to Borrower that the insurance carrier offers to seine a claim for imurance t~Hts, Lender
<br />is atdhorized to collect cad apgig the insurance procceds at Lender's option either to restoration or repair of the Property
<br />ter to the sums scctared by this Mortgage.
<br />Unless Lertdet and Harrower otherwise agree in writing, any such aggiication of proceeds to principal shall not extend
<br />or postpone the due- date of fire monthly installments referred to in paragraphs 1 and 2 hereof ar change the amount of
<br />such installments. If under paragraph l g hez~f Lhe Property is acquired by Lender, aII right, title arsd interest of Borrower
<br />in a~ to any insurance policies and in and to the proceeds thereof resulting from dama~ to the Property prior to tire. safe
<br />or acgtrisitioa shall peas to Lander to the extent of the SuaaS secured by titii Mortgage imrttcd[atety prior to stash sale or
<br />acquisition.
<br />t% ~ nspd Msit~emrace. of Prop..-rt,; Lem C Pranced Lh~ tlkvdo@taents. Borrower.
<br />sitall.kcep the Property is gaud-repair ansl shall not commit waste ar ~rmit impairmertt or deterioration of the Property
<br />and-sliaU comply as~Is tl~ provsians a# anp (ease if this .*.#o.-tgage is an a leaae~ald. If this Motes-agz is on a unit in-a
<br />condiaman"ttsm ar a planned unit dcvelopraent, Borrower shall perform all of Borrower's abiigations umfec the declaration
<br />or ~'ettant- ~rest;#g or gv~tttittg fire cond~initua ar planned unit devempmens> the by-law's-and regulations of the
<br />condomiuittm or planr~cl tatdt devclapment, and coostituem documents. if a condominium or planned untt development
<br />rtder is ex~tued lay. Bo;mover and recorded together wish this Mortgage, the eovenantt and agreemerts of such rider
<br />~t~? iterated-into aed ~ta1 anxead. aed st~pptsmsnt the Est°anants and agents of dais Idsrtg' as if trite rider
<br />were a pert hereof:-
<br />7. Prow ref I!ea$er's b'• If_Barrower-fails to perform the covenants and agreements contained in this
<br />Mortgage, at af' nay eerier or ptncc.~eaiug is commenced -which matetialty affects Lender's interest in the Property,
<br />inc;kxling, but nat'litnited ta> emirsnt tkxttain, iitsalyetay,-codesnforeemeat, err arrangements of proceedings istvalving a
<br />banitrup<or det~®at, then :.ender at i.endeT's aptitm, upon notice fo Borroter,-may make such appearances, disburse such
<br />criers acrd take tiiaoh action as_ is necessary w protect. I.cnder's interest, including, but. not iiatifed to, d_ isbttrsement of
<br />reasonab}e attorney`s fees acid 'entry ;upon the Property to make repairs. If I.emier required. mortgage insurance as a
<br />cottdition of makng llae iottn secured by ibis Mortgage,- Borrower shall pay the premiums required to maintain such
<br />insurar~ art effect until such-lima, as the:iequiiement forsuch-insurance terminates in accordance with Borrower's and
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