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<br />7~~ ~~~z~~23
<br />LlxtFaxntt Covaxaxts. Borrower and Lender covenant and agree as faklows:
<br />I. fl'ayta; tsf od Frincfgad and Interim Harrower shad promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Nate, prepayment and late charges as provided in the Noie, and the principal of and interest
<br />on any Fufurc Advances secured by this Mortgage.
<br />Z, PYrttie. for Taxes amI Insarancg. Subject to applicable law or to a written waiver 6y Lender, Borrower shall pay
<br />to tender on the day monthly installments of principal aad interest are payable under the Nate, until the Note is paid in full,
<br />.....a _f ,1,~, a., :sY..r aad scAnscatents which may attain priority over thin
<br />a StnO ([Edfein "FRIIIas' / eq-uai to 'inc ~:Ymau''i ., . y a..~ .a...... ---
<br />Mai'tgaae, and ground rents ati the Property, if any plus one•tweifth of yearly premium installments for hazard insurar~e,
<br />plus one-twelfth of yearly nremittm installments for motYgage itisuiance, if say, ail as t+easonaoly estitnatad ir.:ttally sad f ,se
<br />tithe to time by Lender an the basis of assesstttents and bills and reasanabfe estimates thereof.
<br />The Funds shall be held in an institution the deceits or zceaunts of which are instttrd or guaranteed by a Federal or
<br />state agency tincludingf.e~ader if tender is such an institution}. t,endershall apply the Funds fa pay said taxes, assessments,
<br />insurance grtnrrlitins and ground ten's. Lender may hat charge for sa holding and applying the Funds, analvzang said account,
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lenaler to make such a ;.hazge. Harrower and Lender may agree in writing at the ame of execution of this
<br />Mortgage that interest on the Funds shall lne paid to Horrawer, and uatess such agreement is made or applicable Law
<br />x+egatires-such interest to be paid, Lender shall hat be required to pay Borrower any interest or earnings on the Funds. Lender
<br />sha#2 give ie Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose- far which each debit to the Funds was made. The Funds are pledged as additional aecttrity For the sum sccni'~.
<br />lxy this Mortgage. ,,,e .,.;,,. ,,,
<br />If the amount of the Funds held by Lender, together with t"re future monihiy insiaiimcnisvf Fur 3 Maya.,.,. r...,. --
<br />Ltte-due dates of Taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to gay said taxes,
<br />assessments, insurance premiums and ground renu as they fall due, such excess shall be, at Banower's option, either
<br />gramgtty repaid to Borrower or ixedited to Borrower on monthly instailmena of Funds. If the amount of the Fonds
<br />held fry tender shall not be sufHcdent to pay taxes, assessments, insurance green:ums and ground rents as they fall due,
<br />Bottower shall pay to Leader any amount necessary to make up the deficiency within 34 days from the date notice is rttailed
<br />by Leader to Borrower requesting payment thereof.
<br />Ugan payrn_ertt in full of ail sums secured by this Mortgage. Lender shall promptly refund to Borrower any Funds
<br />held by tender. If under paragraph lg hereof the Property is said or the Property is otherwise acquired 6y Lender, Lender
<br />shall apply, no Tatar than immediately prior to tbe sak of the Property or its acquisition by tender, any Funds held by
<br />Leader at the time a# application as a credit against the sums recured by this lvfartgage.
<br />3. A o€ Payer. Unlees applicable law provides otherwise, all payments received by Lender under the
<br />Nate attd paragraphs t and 2 hereof shall be applied by Lender filet in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 uercof, then so interest payable on the Note, then to the principal of the Note, aad then to interest and
<br />principal an any Future Advances.
<br />4. Chaa~gcs; ilitns. Borrower shall pay all taxes, assessments aad other charges, fines and impositions aetributable to
<br />the Property which they attain a priority over this Mortgage, and leasehold payments or ground rents, if any,tn the mantes;
<br />provided under paragraph 2 hereof or, if not paid in such manner, try Horroyver tusking payment, when due, directly to the,
<br />payee thereof. Harrower shall promptly €ut.dsh to Lender all notices of amcunts due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borrower shall promptly famish to tender receipts evidencing such payments.
<br />HorraFer small promptly discfizrge any lien which has priority over ibis Mortgage; provided, that Borrower shall rnu be
<br />required to discharge any such :;~,, sa long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith contest such Sign by, or defend er.€arcement of such lien in,
<br />legal proceedtngs which operate to grevettt the ertforcetnent of the Tian or fu'rfeiture of the Pro~t*.y ar any gaze t_*-at'eaf,
<br />5. Aaaard Ir~sranec. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended coverage', and such other hazards as Letuler may require
<br />and in such axnaunas and for such periods as tender may require; provided, that Lender shall hat requite that the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
<br />The insurance cattier providing the insttrancc sha}I be chosen by Borrower subjcet io approval by Leader; provided,
<br />rust sue` agpmval.,haB not be ttnra~,~+nabiy wirtheld. AB premiums an insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof or„ if not paid in such meaner, by Harrower making payment, whoa due, directly io the
<br />iasurastce carrier.
<br />All insttrant;e j~licies and renewals thereat shall be in form acceptable to tender and shall include a standard mortgage
<br />clause in favor of and in farm accegtabk to Lender. tender shall have the right to paid she polities and renewals thereof,
<br />sled Bano~-er shall promptly furnish to Lender all renewal natives and all receipts of paid prrmit. s. In the event of loss,
<br />Harrower shall give grompi notirx to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
<br />try Hon_awer.
<br />tlnies~ Lender and Borrower otherwise agree in writing, insurance proceeds shalt be applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
<br />not thereby 'smgaired. If such restoration ar repair is not economically feasible or if the security of this Mortgage would
<br />lw impai€ed, dte insurance proceeds shall be applied to the stems secured by this Marigage, with the excess, If any, Paid
<br />ter Bozower. if the Property is abandoned by Harrower, er if Borrower fails to respond to Lender within 34 days from the
<br />data notice is mailed by tender to Horrawer that the insurance carrier offers to settle a claim €or insurance benefits, Lender
<br />is autharir~ io caYlest aad apply the irtsuta-err prods at L.°ndat's option either to r~toretian or repair of the Property
<br />ar to the earns secural by this Mortgage.
<br />Useless tender artd Borrower otherwise agrcr in writing. any such agplicatian of proceeds to prittcipai shah-not exiemd
<br />or postpone the due date of the monthly installments referred to irs paragraphs 2 and 1 hereof ar change the amount of
<br />such iasmliments. if tender paragraph 18 hesetrf the Property is acquired by Lender, all right, title and interest of Bortrnver
<br />in aad tt} any insurance policies and in and to the proceeds thereof rsutting from damage to-the Ftoperty prior to the-sale
<br />or acquisition shall pass is Lender to the extent of the sums secured by ibis Mortgage immediately prior to such sak or
<br />acq-uisiiiati.
<br />ti. aad lYlstintcnaatee of Property; I.e~calds; Coadominiiams',. Planned Iltrit Deve!®pmeets. Borrower
<br />shall key t~ Frirgerty in good repair and shag hat commit waste or permit impairment or deieriaratian of the Property
<br />~~,! altall s~atply with the grovisiane of any tease if this Aiartgage is on a t~eehald. If thfs Mortgage is oa a unit in a
<br />condominium ar a glantted unit deveioprr~nt, Borrower shall perform all of Borrower's obligations under the declaration
<br />or.covenants-creating or governing rue condominium or planned unit develaprnent, the by-.sole and tegulatians-of the
<br />can'uaifita?--3r ~ uat -IaY.~nt, and eain~nt d~cuma¢ts. If a coruioirtinium or planned unit ;levelagrneni
<br />rider is executed by Borrower and recardrd €agether-with this Mortgage, the covenants and. agreements of such rider
<br />sltsil be iarotgerated itttn aad shalt-amend and supplement the covenants and agreements of this Mortgage as if the rider
<br />7. 1~rofection of )[,etsder'a gec>#riq,. If Borrower fails_to perform -the covenants and agreements contained in this
<br />1liart_rage, or if any actitsa or praxcditig is comrrtenced-which materially tdfects Lender's interest- in the Property;
<br />ircludirg, hilt not iitttiied to, eanittent domain, inselven~:y, edge enforcement, or azrruagementa or proceedings involving a
<br />tra^~-upt c; d.,ceden., 'i•~~ Lend@c zt Icnder ; opaiok:, upon not'te~e-to Harrower, may make sucfl app~eaiaitces, disbnrsc such
<br />-scars: amt taiee ain:Ei actswt as xs t:+ry ~r p,otu, l.G.-,c'•ar's iata€dst.~'~•tr'ng, buY hat li=ttited ta, disbettsemsttt of
<br />tcasoaable attcuney's.fezs and: entry upon-t; E iLY+~prrty a giako rgpatrs. If Lender required martg>age insurance as a
<br />a(+stdition of making the-}Dart secured. by .this. Marigage, Borrower shall nay the premiums required to maintain such
<br />insttrantx in effect untt~I cavil time as the mquiremoni for -such insurance Terminates in accarilance with Hotrower's and
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