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<br />Uxtaoattt Cavexnxrs. Borrawer and Ltttder cavtnam and agree as follows:
<br />Y. Payment of Principal and Interest. 13orrowzr shall promptly pay when due the principal of and interest on the
<br />indtistedness evidenced by the Note, prepayment sad late charges as provided in the dote, era the prtncipa] of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2, F®nds fxrr 1' and Insureaact. Subiect to applicable law or to a written waiver by Lender, Batrower shah pay
<br />to Lender an ells day monthly instafimtnts of principal rrd intern st arc payab.~ under the Note, u.^.til t~ Nets is paid in full.
<br />a ~ f=~ tin "F1[nds") euual to ant-twelfth of the yearly taxes and assessments which may attain priority over th"ss
<br />i?2artgage, and ground rents an t±te Pra~rty, if any, plus one-twxlfrh of yearly premium installments far hazard insurance,
<br />plus one-tivel€da of yearly premium iastalltnents for mortgage insurance, if any, ail as reasonably estimated initially and Pram
<br />time to time by Lender on the basis of assessments and hilts and reasonalriz estimates thereof.
<br />'I'lls Funds shall be held in an ittstituticrn [ice deposits of at:couats of which are insured or guaranteed by a Federal or
<br />stars. agent:y {including %.ender if Ixnder is suds an iatseitutian}. Lender shalt apply the Futtds io pav said taxes, assessments,
<br />insarran~~ premiums and ground rents. Lender may not charge far sa holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless i.ender pays Borrower interest oa the Funds ertd applicable law
<br />permits Lender to make such a charge. Borrower ana Ltndtr may agree in writing at the time of execution of this
<br />Mortgage that interest on the Fuads shall 6e paid *o Harrower, and unless such agreement is made or applicable law
<br />requires such intertsi fa be paid, Lett~..er shall not be required to pay Borrower any interest ar earafngs on the Funds. Lender
<br />shall give to Borrawer, without charge, as annual accounting of the rands showing credits and debits trt the Funds and the
<br />ratsvose for which each debit to the Funds was made. Tht Funds are pledged as additional security for the sums secured
<br />by this Mortgage.
<br />If the atrtaunt a€ the Fuatds held by f.endtr, together with the future monthly insiatlmenes of Funds payable prior !a
<br />the dt~ dates of taxes, assessments, insurance premiums and ground teats, shah exceed the amount required to pay said taxes,
<br />assessnttnLC, insurance premiums and ground reins as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held fry Lender shall noY be suf6citnt to pay taxes. assessments; insurance premiums and ground reins a& they fall due,
<br />Borrower snail pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender :a Borrawer regttesting payment thereof.
<br />Upon payment is full of all stuns secured by this Mortgage, Leader shall promptly refund to Borrower any Funds
<br />held by Lender. if under paragraph 18 hereof the Properly is sold or the Property is otherwise acquired by Lender, Lender
<br />shalt apply. no lacer titan imt~diately prior to the sale of the Properly er its acquisition by Lender, any Funds held by
<br />Lender at tits titrtt of application as a credit agaitvst the sums secured by this Mortgagz.
<br />'s. A of Psymeals tinltss applicable law provides atherwfst, all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph ~ ftttxaf, autn to Merest payafsit on ihz Idott, then to the psittcigal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. C6asBes; Y.te~, Borrawer shalt pay all taxes, assessments and other charges, ftnts and impositions attributable to
<br />eht Pxoptrty which may attain a priority aver this Mortgage, and leasehold payments ar ground rents, if any, in the manner
<br />provided tinder paragraph 2 hereof or. if not paid in such manner, by Harrower making payment, when due, directly to the
<br />payer thzreaf. $orawer s?talt promptly furnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Boazau°cr shall make p8ytnznt directly, Borrawer shall promptly furnish to Censer receipts evidencing such gaymc,.~
<br />Borrawer shall proragtiy a~nargt any lien whish has priority over this Moragage; provided, that Borrower shat] not bt
<br />requires to discharge any such lien sa long as Borrawer shalt agree in writing to the payment of the obligation secured by
<br />sa>itt lien in a mattner a: ceptablt to Lender, or shall in good fait ; coolest caste lien by, or attend tnforecatcni of surh lip:. tn,
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thet~af.
<br />5. I~ezard Iresrtasnet. Borrawer shall kttp the improvements sow existing or hereafter erected on the Property in-cured
<br />against lass by fire. hazards itseludtd :vtthin the term "extended coverage", and such other hazards as Lender may require
<br />and in sttCu arnattaas and far Such peria3s as Lender may require; provided, thatLendtr shall not require that the amount of
<br />such cavtragt exceed tires amount of coverage required to pay the sums secured by this Mortgage.
<br />Tnt insurant~ ::ar`r~r piuridittg ir'~ ir.starar, ~ sfta.'t br cho°nn b}. n„^rrev=er s»b;_ct to approval by Lender: provided,
<br />that such approval shall not fx snr°,.asanabiy withheld. All premiums an itesurarlct policies shall be paid in lets manner
<br />provides tender paragraph Z '`rrtof ar, if teat paid in suet manner, 'try Bacrower mak;ag pay~t, -,vi`~i dt~, di~.,'.,~ to tln
<br />t~5aranCe carrier,
<br />:411 ittsuran~.e palides and renewals thereof sltali bt in farm acceptable to Lender and shall include a standard mortgage
<br />clattst in favor of and in form acceptable ±o Ltodtr. lxrdtr shall have the right to paid the policies and rtttewais thereof,
<br />and Harrower shall promptly ftnrnish to Leader all renewal notices and all receipts of paid premiums. in tilt event of loss,
<br />Borrawer shall give p*.omat nnti t to the iasuraRt•e ~arritr and lxnder. Ltndtr may r.aakt proof of loss if not made promptly
<br />by Borrawer.
<br />Unless Linder and Borrower otherwise agree in writing, insurance proceeds shall >x applied to rtstoratian or repair of
<br />the Property damaged, provided such restarat'san ar repair is economically feasible and the security of this Mortgage is
<br />not therebytmpairea. if such testaratian ar repair is noC eeanomicaily feassbie o; if the security of this Mortgage would
<br />ice impaired, the insurance proceeds shad bt applied to the runts secured ley this Mortgage, wish the txcess, if any, paid
<br />to Harrower. if the Property s abaraantd by Borrawer, or if Barratu°er faits to respond to Lender within. 30 days from the
<br />date notice is mailed by Linder to Harrower that rite insurance carrier otters to settle a claim far insurance beneStis, Lender
<br />is an#horiztd to eo21tM ana apply the insurance procttttls at Lciider's ap'.icn either t., resaaratian ar repair of the Property
<br />ar to the sums secured by this Mortgage,
<br />Unless Lender and Borrawer aahtnsise agree in writing, any such application o€ proceeds to principal shall not extead
<br />ar postpone the due dart of [ht monthly installments referred to in paragraphs !and 2 hereof ar change the amount of
<br />such installments. If under paragraph l8 hereof the Praptrt~+ i, acquired by bender, all right, title and interest of Borrower
<br />in and to any insurance policies and in and Lo eht proceeds ti_ertaf resuhing from damage to thz Property prior to the sale
<br />ar acgttisitiaa shall Bass to Lender as tut txaen[ of tltt runts secured fey this >2arigagt Immediately prior to such sale or
<br />acquisition.
<br />8. Preaervatian aed Malatenance of Proptrt}, Lt'$sehtefds; ~anda.~dslnttn€; Ftastted Utz DeveYop[aeuts. 13onrower
<br />shall kelp the Property in goad repair and shall not commit waste or pc[sttit impairtttznt ar dtterittratian of the ProgartY
<br />artd shall comply with fire provisions of any least if this Riortgage is on a l,.asehald. If this Mertgagt is on a unit in a
<br />condatttinium or a planned unit dtvelapmtnt, Harrower shall perform all of Harrowers obligations under the declaration
<br />or covenants creating or goverttittg the-condominium ar planned unit dtvelaptnent, the by-laws and r:gulatians of the
<br />condominium ar planned unit development, and constituent documents. if a condominium ar planned unit development
<br />rider is executed by Borrawer and retarded xagtther with this Mortgage, the cavtttant3 and agreements of such rider
<br />s.`:ali ~ irc:,rgarated intn stns shall amend and supplement the covenants and agettments of this Mortgage as if the rider
<br />were a part her~f.
<br />7. )irht#eetlon of ?{.e[:s~errs ~etsrlty. If Borrawer fails- to perform the covenants and agreements contained in this
<br />A4artgage, ar sl any actiixr ar proceeding -is cotnnreuctd which- materially affects Lender's interest in the Property,
<br />iti+~uding, bu[ not limited ta, eitxirtent damaitt, insalveitcy; code eitforctment, or arrangements or proceedings involving a
<br />txsnktttpt or decedent,. then Leniter at Lender's option, upon notice to Borrawer, may make such appearances, disbur,e such
<br />stems ant! take sash action as is necessary to pratzct Lender's interest, including, but not limited to, disbursement of
<br />reatatabde attamty's fe8s and entry upon the Property to make repairs. ]f Lender required mortgage insurance as a
<br />£andlttOn Of [nuking Lht loan secnred by [hie Mortgage; Harfawer 5hali pay the premintrlS regllired Ia matn[aln SIiCh
<br />iasurestct in effect until such tint as the requirzment for such insurance terminates in accordance with Borrower's and
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