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79. WJ03649 t nxrt C:or 'r.ti-:rs. Borrower and Lender covenant and agree as follows, 1, Payment of Princ.lpal and interest. Borrower shall promptly pay when due the principal of and interest on the imkbtedncss evidenced by the N':etc, prepayment and late charges as provided to the Note. and the principal of and interest on any Fut,rre Advances ->ecurtd by thic Mortgage. Z. Peonies tier "fvxe•t and ltt.rrramv, Subject to applabaalc law or to a written waiver by Lender, Borrower shall pay to 1•xn6cr on the day nrconthly ;n "ailments of principal and interest arc payable under the Note, until the Note is paid in Rill; a su:n. (he;rin "Funds'") equal ;o onc-,Twelfth of the vearly taxes and assessments which may attain priority over t:•'. Mortgage, and grou:,.d rents on the. Property, if any, pitts one twelfth of yearly premium installments for hazard insurance. talus oric-l-eiflh of yt:arly prerniurn installments for mortgage insurance. if any, all as reasonably estimated initially and f.-oat tirar to time by lender on the basis of asussments and bills and reasonable estimates thereof. The Funds shall be held in an insritutitri the deposits or accounts of which are insured or gunrantced by a Federal or state aprnr.y fincluding Under if 1,cnder is such an institution). Lender shall apply the Funds to pay said taxes, assessmcnts, insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account of trr;vrng and compiling said assessment-, and hills, unless Lender pays Borrower interest on the Funds and applicable lays' Nrrr.its Lender to, make such a charge. Borrower and lxnder may agree in writing at the time of execution of thi, Mortgage ;hat interest ere the Funds shall be paid to Borrower, and unless such agreement is made or applicable ln%Sl requires such interest to be paid, Lender shall nos tic required to pay Borrower any interest or carnings on the Funds, Lender Oia,H g:ve to R,-?• rower, w sthout charge. an annual accounting of the Funds showing credits and debits to the Funds and the purposc for %4 i,:h each deb to the Funds was made. The Funds are pledged as additional security for the sums secutt:d t•. y tFls 1.lortgag< If the amount of the Funds hcl,.l by Lender, together wit Ih the future. monthly installments of Funds payable prior to the due dates of tares, asscssmcn.ts, ';ozurancc premiums and -round rr,nts, shall exceed the amount required to pay said ;axes, assemmenu, insurance premiums and ground rents as they fall: due, curb excess shall be., at Borrower's option, either proFt;jitlo• repaid to Borrower or ~t- drs._d to Borrower on monthly installments of Funds. If the amount of the f=unds hvid trv Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due, Einrterwer shall pay to Lendcr any amount necessary to make up the deficiency within 30 days from the date notice is mailed by I.cnder to Sorrower requesting payment thereof: Upon payment in full of all sums secured by this Mortgage. Lender shall promptly refund to Borrower any Funds hold by L enrler. If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Mortgage. 3. Application of Payments. Unless applicable law provides otherwise, all pavntcnts received by lender under the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Linder by Borrower under pa.r.aimph 2 hereof, then to interest payable on the Note. then to the principal of the Note, and then to interest and p rin ipal orl any Future Advances. d. Chwre%; I[Jeas_ Borrower 'shall pay all taxi,; assessments and other charges- fines and impositi.:ns attributable to the Property which may attain a priority over this Mortgage. and leasehold payments or ground rants, if any, in the manner p"wided ur ci".r paragraph 2 hereof or. if not paid in such manner, by Borrover making payment, when due, directly to the payee thr.rcot. Wirrow•er shall promptly .furmsh to Lender all notices of amounts dire under this paragraph, and in the event Borrower *,An ns.ike payment directly. Borrower shall promptly furnish to Leader receipts evidencing such payments. Sorrowcr shall pl'amptly diwbargc any lien ssvhich has priority over this Mortgage; provided, that Borrower shall not be -equixed to dicer,argc any satcla lien so long as Borrower shall agree in writing to the payment of the obligation secured by such lien m a manner acccptabl^ to lender, or shall in good faith contest such lien by, or defend enforcement of such lien in, legal prviceedmgs which operate to prevent the enformnient of the lien or forfeiture of the Property or any part thereof. 5. Hazard Innsrance. Borrower shall keep the improvements not.) existing or hereafter erected on the Property insured agaimx. 1, ms by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require and in such amounts and for such periods as Lender may require; provided, that Lender shall not require that the amount of such coverage exceed that amount of coverage required ao pay the sums secured by this Mortgage. The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided, that v,sch approval shall not be unreasottatyly withheld. j AM premiums on insurance policies shall be paid in the manner provided under paragraph 2 hereof or, if not paid in such "?tanner, by Borrower retaking payment, when due, directly to the insurance carrier. All insurarce policies and renewals thereof shall be in form. acceptable to Lender and shall include a standard mortgage clause m favor of and in form acceptable to L*ndcr. Lender shall have the right to hold the policies and renewals thereof, and Btyrrow°er shall prornpdy furnish to Lender all renewal notices a.nd all rer_cipts of paid premiums. In the event of loss, Bnrrov,rcr shall give prompt notice to the insurance carrier and Lender, Lender may make proof of loss if not made pr..-nptly by Borrower.. Unlest Lender and Borrower otherwise agree in writing, insurance proceeds, shall be applied to restoration or repair of the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is not thereby impaired. 11; such restoration or repair is not economk~lly feasible or if the security of this Mortgage would be impancd, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any. paid to Borrow'tr. If the Properly is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the dzte notice is mailed by Lender to. Borrower that the insurance carrier offers to settle a clairn for insurance benefits, Lender is :authorized tip collect nand apply the insurance proceeds at Lender's option either to restoration or repair of the Property or to the sums tteurrid by this Mortgage. . Unle.," Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend Dr postpone the due dat: of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of -suds installments. If under paragraph 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower in and to any insurance policies and in and to thic proceeds thereof resulting from darnage to the Property prior to the sale 1)r acguisitirm shall pass to Lender to the exicnt of the sutra secured by this Mortgage immediately prior to such sale or . ;acqui.tttlon. 6, Prexen atirm ansl Maintenaanre of Property; 1.raxrholds; Condominiums, Planned Unit Developrtsxnts. Borrower lcltall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property .iinid r„hal.' comply with the provisions of any lease. if this Mortgage is on a leaschold.. If this Mortgage is on a unit in a t-imdoiuinium or a planned uric development, Borrower shall perform all of Borrower's obligations under the. decla rat) on xr rovienants crc;1t1Z ; or governing the condominium or planned unit development. the by-laws and regulations of the comItorniviurn or plannol unit d4niclopment_ and con.qituent documents.. If a condominium or planned. unit de-vOoprnent tides is eaect-tedd by Borrower and recorded together with this Mortgage, the covenants and aMeemcnts of such rides shall be rncorpormed into and shall anx-ad and supplement the covenants and amts of this Mortgage its if the rider were a part. besoof 7. Prottctias of Lemleras Security. If Borrower fails to perform the covenants and agreements contained in this Mortgage. or if any act oa or proccedi r4 is comiocnced which materially affects Lender% interest in the Property. including. but not limited to, eminent domain, insolvency, code enforcement, or arrangicimtnts or proceedings involving a bankrupt or rleerd+:nt, there Lender at Leader's option, upon notice to Borrower; may make ssxh appearances. disburse such sams and take such action .s is necessary to protect Lender's interest, inc..".uding., but tier limited to, disbursement of reasonst4e attorocy's fees and entry upon the Property to make repairs. V Lerufer regajhz;d mortgage insurance as a 006--en ref making the )loan secured by this Mortgage, Borrower shill F.ty the premiums required to maintain such .ri+:ara~rce in effect until och time as the requirement fcw such insuran-: trrminatm in accorilauce with Borrowers and