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UNr=attt,t CovuNnrrrs. Borrower and Ixnder covenant and agree as fattows:
<br />1, f'a3rttent vE Prlaei~i and 'interc'St. Borrower shads promg?ly pay wher. due ?he prncipal of and interest on the
<br />ir:derstednesa evidcncod by the Note, prepayment and late charges as provided in tae Note, and the principal of and interest
<br />on any Future Advances sectued by this Mortgage.
<br />2, >pon ~t'I' and ?{tasnra;ZCe, Subject to applicable law or zo a written waiver ny Lander, Borrower shall pay
<br />__~. nee payaw..,
<br />to I„°.nder an fire day maazhly ir~stalttncn#s of principal and it „ a. '''° a^.d°r tI:=1~!o'-e, "-^--:1 the Note is paid in fui7,
<br />a yt1RA (nerem "FnndS~'} equa'e to o4 4weifth Of the yeaFlyl #axe5 and aSSeSSment5 wltieit may attatfl grlaiity aver tltF£
<br />A4artgage, aril grouted rent3 sn the Prapet'ty, if any; plus one-twelfth of yearly premium installments far hazard insurattee,
<br />plus onriwetfih of yearly premium installments for mortgage insurance, if any, ate as reasonably estimated initially and from
<br />tiros to time by Lender o3 the-basis of assessments and bilB and reasonable estimates thereof.
<br />"I?2e Fund< shall t~ hJd in an institution the deposits ar accounts o€ which are insured or guaranteed by a Federal or
<br />abets ,agency i including Lender if under is such an ittsiitution). Lender s:,ail apply the Funds to pay said taxes, assessments,
<br />ituurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />ar verifying and compiling said assesstttents and bills, tmless Len6Qr pays Harrower interest on the Ftmds and applicable saw
<br />perm=.is Lender to make sorb a charge. Harrower and Lander may agree in writing at rite time of execution of this
<br />Most~ge that interest on fire Funds shall be paid #o Botrawer, and unless such agreement is made or applicable saw
<br />requires €uch Interest to be paid, bender shall net be required tit pay Borrower any interest ar earnings on the Funds. Lender
<br />shalt give to P.ot7ower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />attrvose for which each debit to the Funds was made. 'Ilse Funds are pledged as additional security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender, tugettter with the future monthly installments of Funds payable pnar to
<br />rue dt>r dates of taxes, assessments, insurance premiums and ground rents, shat! zxcesd the amotmz required to pay said taxes,
<br />a.=.s2ystnPn~, insurance premiums and ground rents as they fail due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower ar credited to Borrower on monthly installments of Funds. If fife amount of the Funds
<br />bald by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fait due,
<br />Borrower shall gay to Lerdec any amount necessary to make ug the deficiency within 30 days from the date notice is mailed
<br />by Lz°nder ?a Borrower regttesvng payment thereof.
<br />Ug~n payment in full of ail stairs secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />boil by bender. If under gazagraph 13 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />sha21 apply, nv later than immediately Prior to the sate of the Property or its acquisition by Lender, any Funds head by
<br />r...: rider at rue ti:-tte of agpiicatian as a credit against tae sums secured by this Mortgage.
<br />3. 'rippll~tle+n of Payments. Unless applicable taw provid:s otherwise. alt payments received by Lender under the
<br />I*Ia?e and paragraphs 2 and 2 hereof steal} be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />ceder ~ ^ ' 2 h°~^. :hen to iutere t p°a; able an ...~ ,.ate. n :~ z_. t=,c prirviyatvf t:~ s:utc, ar,d then ,....rte.^es? and
<br />~'agr..pn _..
<br />principal on any Future Advances. ~ Y
<br />4. Charges; Lleos. Borrower shaft pay all taxes, assessments and outer charges. fires and impositions attributable to
<br />ttte Z'rapsrty which may attain a priority over this Mortgage, and leasettald payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, 6y Bcrrvwsr making payment, when due, darectly to the
<br />payee tlterwf. Harrower steal! promptly furnish to Lender alt notices of amounts due under this paragraph, and in The event
<br />Pn;rJr:er sxaatl make payment directly, BarFOwer shall prontp?!y furnish to I.onder receipts evidencing such pa}.. ,ts.
<br />bcaa::er sltaIl prompny tiischarge any Tien which has priority over this klattgage; provided, idiot Harrower shall not be
<br />tt:quired to disehargs any such lien so tang as Borrower shalt agree in writir:g to the payment of the eltligatian reared by
<br />szac'zt :ten in a manner acceptable to Lender; or sheik in good fai±h contest such tier sty, ar defend enforreznent of zu:h.lien t¢,
<br />toped proceedings which operate to prevent tits enforcement o€ the lien er forfeiture of the Property or any part thereat.
<br />5. $$arard Ivsnrance. Borrower shai2 keep the improvements now existing or hereafter erected an the Progerig insured
<br />against loss b3' fire. hazards iacletded within the term "extended coverage". and such other hazards as bender may require
<br />and in snclt amounts attd far such periods as Lender may require; provided, that lender shall-not require that the amoun? of
<br />such coverage exceed tltaz amount of coverage required to pay rite sums secured by this Mortgage.
<br />ins irsttrani.-e car~,er profiling t~ ;~uratuue shad' 1;:. rl u °n by Hor.owsr sub;e~t to approval by Lander provided,
<br />that such approval shalt not be tutrea°-vnabty withhsid. All premiums on insurance policies shall be paid in the manner
<br />provided under garagrgh 2 hereof ar, if not paid in such manner, by Harrower ma't~ing payincnt, when due, di~tly to tits
<br />insurani:~ Carrrer.
<br />All iu~.traece Ga1ic,~s and rerxwats thereof saa!I ~ it form acceptable to Lent:cr and shat! include a standard mortgage
<br />clattse in favor of and in farm acceptable to Lender. Lender seals have the rtgat m paid the paiicies and renewals thereof,
<br />and Harrower shalt pratngtly furnish c€ Lender ads renewal r-attces and all receipts of paid premiums. In the event a# loss.
<br />Barrov:er s#taii giv, prompt na?ice to the insurance carrier and Lender. Lender tnay make proof of lass if net made promptly
<br />dst Harrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shat! be applied zo restoration or repair of
<br />tits Property damaged, provided such res#aratian ar repair is ecanamicaiiy feasibte and the security of ibis Mortgage is
<br />net thereby intpairsd. If su;,b restarativn ar repair is net ecanamical!y feasihte ar if the security of this Mortgage would
<br />be impairt.d, the insurance proceeds shall be applied to rho starts secured by this Mortgage. with the excess, if any, paid
<br />to Harrower. if thy. Prap?rty is abandoned by Borrower, yr if 13arawer fails zo respond to Lender within 3fl days from the
<br />da€e notice s maitod by Lender to Harrower that the insuranc>_ carrier oilers zo settle a clai-tt for irsuranee bet~fits, Lender
<br />is authorized to cal6ect and apply the insurance; proceeds aE bender's option either to restoration or repair of the Property
<br />or tv rite surrts secured sty this Mortgage.
<br />Unless Lander and Harrower otlter~iso agree. in writing, any such application of proceeds to principal shall not extend
<br />ar postpone the due dare of the monthly ins•~allmsnts referred to in paragraahs t aad 2 hereof or change the amount of
<br />such ins?alltrtants. I€ under paragraph i8 hereof the Pro~erzy is acquired'oy Lender, atI right, title and interest of Borrower
<br />in and #o any insurance policies and in and to the proce~~s zttereof resulting from damage to the Prvl~rty prior to rite sale
<br />or at;gttisitian shall Bass ro Lender to the extett[ of tsxe sums seCUred by this A:ortgase itrrtediatety prior za such sail or
<br />acquisition.
<br />zi. )iareservstian affil ~3aictenancs of Property, LeasshalrL,, Candatalnlums; Planted Unit E]evelapments. Harrower
<br />shall keep fife Props :y iu goad repair and shalt net commit waste or permit impairment or deterioration of the Property
<br />and shall comply with fife provisions of any lease i# this Mortgage is on a leasehold. if this Mortgage is on a unit in a
<br />cardaminittm yr a glarutsd unit development, Borrower shall perform ail of Borrower's obligations under the dectara?ittn
<br />or sovertants creatiu„q yr governing the coudamiaium ar planned urii dsrelapment, the by-laws and regular=_aats of -the
<br />condominium or ciannetl unit development, and cvnstitttent documents. If a candaminittm or planned trait development
<br />rider is exceuted by Borrower and ree~-*rded together with thisLfortgage, the covenants and agreements of such rider
<br />s hall inc.:,rparsted trite-and shall amend and «~ppietnent iLte covenatus and agreements of this Mortgage as i€ the rider
<br />wwere a patx hereof.
<br />7, Pref~tl:tn of LEteder's Seearifq. If Borrower faits to perform fife covenants and agreements contained in Yhis
<br />3ytartgags, ar if arty action. ar proceeding is commenced which materially affects Lender's interest in the Property,
<br />in:.ittding, 'out not limited ta, :.tninettt datnain, i~solvettsy, Bade enforcement, ar arrangements or proceedings involving a
<br />!?-a€tkrugt ar deceden#, then I.andsr at asnsier's option, upon notice to Borrvvver, may tnako such agpzarancos, disburse such
<br />stems and-sake such action as is uece_ssary to protect Lenders interest. including, but net limited to, disbursement of
<br />reasanabts attorney's fees- and entry- ripen the Property io make repairs. if Lender required mortgage insurance as a
<br />eonditian of making the loan secured-fey this Mortgage, Borrower abets pay the premiums required to maintain such
<br />insurance in effect until such- time as the requirsrttent for such insurance terminates in accordance wish Borrower's and
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