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<br />Uxrnoaas f;avexnNZS. Borrower and Lender covenant and agree as follows:
<br />to Petrutent of Prlnelpal mad InreresL Horeower shall promptly pay when due the principal of and interest on the
<br />indebtedness evideaGed by the Naie, prepayment and tale charges as provided in the Noce, and the principal of and imetrst
<br />an any Future Advances secured by this Mortgage.
<br />2. F'tm~ far Tomes aed Instance. Subject to applicable Saw ar to a written waiver by Lender, Borrower shall pay
<br />to Lentkr on the-day monthly installments of principal and interest are gavabiz under the Nate, unlit the lento is paid'ir. full.
<br />- .,, ~r~..,fittn~R~~i ~~ r,; ena_l+v~~th a£ :he yearly taxes and assessments which may attain priority ovzr €}iis
<br />Mine, and ground rams on the Property, if any. piu~s ott°~twelftti of yearly premium installments for hazard insurance,
<br />plus aae-€welfth of yearly prernitrtit installments for mortgage insurance, if any, alt as reasonably estimated initially and from
<br />time to time by Leader an the-basis of assessments and bills and reasoaabte estimates therea€.
<br />T`:.e Fttads shall be held in altsnstitutiore tip deposits or accaitats of whielt are insured or guaranteed by a Federal-or
<br />state agzncy f including Lender if Lender is such an institution}. Lender s""gall apply the Funds to pay said €ases, assesstt~ents,
<br />ittsurat€ce pretniatms and ground toms. Lender may not charge for so holding and applyting the Funds, analyzing said account,
<br />or verifying and compiling said assessmems and bails, unless LGnder pays Horrower interes*. on the Funds and agpliwb(e law
<br />permits Lender to make such a charge. Harrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall he paid to Harrower, and unless such agreement is made or applicable law
<br />requirca such ingest to be paid, Leader shall not be required to pay Harrower any interest or earnings oa Slte Furtds. Lender
<br />shall give to Horrower, without charge, an annual accounting of thz Funds showing credits and debits fo the Funds and the
<br />_ mirpase for which cacti debit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />try Uric Mortgage.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessrents, insurance premiums and ground rents, shah exceed the amount required to pay said saxes,
<br />asstssaten€s, insurance premiums and ground rents as they €all due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Harrower or credited to Borrower on monthly instaUmenu of Funds. If the amount of the Fends
<br />held bq Leader shall not be std6tcient to pay taxes, aas~ssments, insurance premiums and ground rents as they fail due,
<br />Harrower shall pay to Lender any amount necessary to make ap the deficiency within 34 days from rite date notice is mailed
<br />by Lemier €a Harrower requesting paymem thereof.
<br />Upon payment is fall of all stems secured by this Morigsgz, Lender shall promptly refund to Harrower arty Funds
<br />held by Lender. If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Leader, Lender
<br />shah apply, na lacer than immediately prior to the sale of the Property ar its acquisition by Lender, any Funds belt=d by
<br />Lender at the time of application as a credit against the sums secured by this Mortgage.
<br />3. Applicffilon of Ptty®ents. Unless applicable taw provides otherwise, all payments received by Lender under the
<br />Note and paragraphs i and 2 hereof sha[I be applied by Lender first in payment of amounts payable to Lender by Horrower
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the ldotz, and then to interest and
<br />principal an any Future Advances.
<br />4. Chttr~es± I,tens. Borrower shall pay all taxis. assessments and other charges. fines and impositions attributable to
<br />thz Property which may attain a priority aver this Mortgage, and leasehold payments ar ground rents, if any, is the manner
<br />provided under paragraph Z hereof or, if not paid in such manner, by Sarrower making payment, when dui, directly to the
<br />payee thereof. Harrower shall promptly furnish to Lender all notices of amounts due under *.his pazagsaph, and ut the event
<br />Harrower shall make paytacnt directly, Eairower shell promptly fui~ish to Lender reGeigts evidencing stroll paq.uents.
<br />Borrower shall promptly discharge any lien which has priority over this Mortgage; provided, that Horrower shall not be
<br />required to discharge any such lien sa long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a manner accegtabk to Lender. as shall in goad faith contest such lien by, or defend enforcement of such Lien in,
<br />legal graGtedings which ope.*aee to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />S. lid I_r2azE. Harrower shall kcep the improvements now existing ar hereafter erected on the Property insured
<br />against loss by ftre, hazards included within the term "extendzd rnvzrage", and such other hazards as Lender may require
<br />and in such amounts and lot such periods as Lender may require; grocidtd, that Lender shalt not require that the amount of
<br />such Gaverage zxeeed that amount of coverage required to pay the sums secured by this Mortgage.
<br />Tlie insurance carrier providing the it;suraaGZ shalt be chosen by Borrower subject to approval iny° Leader, pravid~,
<br />first such appsovaf shall not be utireasona6ly withheld. Alt premiums on insurance galicies sha13 he paid in the manner
<br />provided uttt~r paragraph 2 hereof ar, if not paid in stzch manner, by Banawer making payment, when due, directly to t`ne
<br />16ai3ranG6 Garner,
<br />Al: €nG.rxnf~ p~~'cies and renewals tbeseof s_hail Lv. in €orm accentablz fa Lender and shall irtGlude a standard mortgage
<br />Glausa in favor of and in form acGegtable to Lender. Linder shall have the right to bald the policies and renewals thereof,
<br />and Borrower shall promptly furnish io Lender alt renewal nazices and 211 receipts of paid premiums. In the event of loss,
<br />Harrower shall give prarirpt notice to the i~surancz carrier and Linder. LtttdGr may make prnef of lass if not made promgdy
<br />icy Sarrawer.
<br />Unless Lender and Harrower otherwise agree in writing, insurance praeeds shall be applied to restoration or repair of
<br />the Property damaged, provided such mstoration or repair is economically teasibte and the security of this Aiortgage is
<br />not thereby impaired. If such restoration ar repair is not economically feasible or if the security of this Mortgage would
<br />be impaired, the insurance proceeds shall be applied to the sums seGUred by this Mortgage, wrth the excess, if any, paid
<br />ro Barrover. If t.,a Propett+' is abandoned by Barrcwar, or if Harraaxer fails ac respond to Lender within 34 days from the
<br />data notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either w restoration or repair of the Property
<br />or ht flit sins secured by this t~ior~ gs.
<br />Unless Lendar and Barron°tr oalterNise ogre,: in writing, any such application of proceeds to principal shall not extend
<br />or postpone the due date of the ntonthiy installments referred to in paragraphs 1 and Z hereof or change the amount of
<br />such ins#ailtnenis. if udder paragraph iS hereof the Pro~...rty is acquired by Lender, all right, title sad interest of Borrower
<br />tit sad to any insurance policies and in and to the proceeds thereof resuitiag from damage io tfte Property prior to the sale
<br />ar aegttisitian shall pass to Lander €a the extent of the sums secur2rl by this Aiartgage immediately prior to such sale ar
<br />aGrtrisititsn.
<br />6. Preserratitm anti bislntenanee of Prnpertg; Le~ehotds; Condominiums; Flaoned Unit: Derdopments. Borrower
<br />shall keep the Property in goad repair and shall not carnmit waste or permit impairment or deterioration of the Prot:..rty
<br />and shall Garngly with the pzavisions of any lease if this Mortgage is an a ieasehaid. If this Mortgage is an a unit in a
<br />eandoatinium ar a planned unit development, Borrower shalt ~rform all of Borrower's obligations under the deciarauon
<br />or cavetisrrts creating or governing the condominium ar planned unit development, the by-laws and tcguiations of the
<br />condo_tnirriutn or plaa=_ted unit development, and consteittent dacttments. I# a condominittrtt or planned unit devel~pmont
<br />rider is execitteai by Bdrrawer aril recorded together with this Mortgage, the covenants and agreements of such rider
<br />- shell be iaeotgarated into and shalt amend and suppierrtent the covenants and agreements of €his hiartgage as if the rider
<br />' xere a part: hereof. ,
<br />7..Pmtecttort -Elf Lender's 5eemritp. If Borrower fails €o perform the covenants and agreements. contained in this
<br />Mtrtgage, oz- if any astitm or proceeding is GommeaGed which- materially affects Lender's interest in -the Property,
<br />~iscluding; but riot-limited tit, eminent-riotttaist, insEtli~encv, code enfarcetaent, er arrangements or ptroeeadings involving a
<br />t~nkeupt ar decedent, then Lender at Lender's op€ion, upon notice to Harrower, trtay make such appearances, disburse such
<br />sittns and take such action as is necessary-to protect Lender's interest, including, but not limited W, disbursement of
<br />reasttaable attorney's £ees and entry upon the Prouty #o make repairs. If Lender sequimd mortgage inswance as a
<br />coatiitian of malting the loan secured by this Mortgage; Borrower shall pay the premiums required to maintain such
<br />- insurance in effzGi unfit such time as the requirement for such insurance terminates in accordance with Borrower's and
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