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<br />?~~°° U tJ I .l 11
<br />U;.zr•:,aE,t Co ~.:~.: ~. icrrawar and Linder covenant and agree as follows:
<br />1. Paytniot of Prlnefp~ and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment area' late charges as provided in the Nate, and the principal of and interest
<br />an any Future Advances scented by this Mortgage.
<br />2. 19unds fw' Tata€a and Irtsnsattce. Subject to applicable law or to a written waives by Lender, Borrower shall pay
<br />to Lender an the day monthly ittsta[Iments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a num. (herein "Funds"t equal to one-twelfth of the yearly taxes. arzd assessmenu which may attain priority over this
<br />:Esr•~age, -~ a~vm-d rta~ an €h~ Froprrt-7. if say; plats-one-t~alffli of y°saly premitan inatal!tuer:ts for havard insurance,
<br />plus one-twelfth of year'ry premium installments for mortgage insurance, if any; all as reasonably estimated iaitiaily and from
<br />time to time by Leader on tlm basis of assessments Arid -bills and reasonaliie estimates thereof.
<br />The Funds .shall be held in ansastitutiaa the deposits ar aceouats-of which -are insured or guaranteed by a Fedeeat or
<br />start agency tiaetuds`ng I.endex if Lender is such an imtitutian): Lender shall apply the Funds to pay said taxes, assessments,
<br />insuraarx premituns and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and compHing said assessments and hilts, artless Lender pays.Borrower interest oa the Funds and apglicabk law
<br />permits Lender to-malts stxh a charge. Borrower and Linder may agree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />rectuirts such interest to be paid, Lender shat( not be required to pay Horrowir any interest or eartrings on the Funds. Lender
<br />shall give to Harrower, without charge, an annual accounting of the Funds showing credits and debits fo the Funds and the
<br />, purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />by this 2.'.ariga~.
<br />If the amount of the Funds held by Lender, Together with the Future monthly instaIlments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents as they fait due, such excess shall be, at Borrowers aptior., either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Ftuuls
<br />held by Lender shalt not be stditcient to pay taxes, assessments, insurance premiums attd ground rears as they fall due.
<br />Borrower shalt pay to Lender any amount necessary Eo make up the deficiency within 30 days from tilt date realise is matted
<br />by Leber to Borrower requesting payment thereof.
<br />Upon payment in fuII of aII sums sxured by this Mortgage. Lender shaft promptly refund to Harrower any Funds
<br />held by Lender. If under paragraph t8 her~f the Property is sold or the F€operty is o*~erwise acquired by Lender, Lender
<br />shall apply, tea later than immediately prior to the salt of the Fropertp or ice acquisition by Linder, any Funds held by
<br />Lender at the time of application as a credit against the soars secured by this Mortgage.
<br />3. .4pldieatlon uQ Paynees~. Einltss applicable law provides otherwise, ail payment- received by Lende• under the
<br />Note and paragraphs I attd 7 hereof shat? be applied by Lender first in payment of amounp payable to Lender by Borrower
<br />ua~r paragraph 2 hereof, then to interest payable on the Note, thin to chi principal of the Note, and rhea to interest and
<br />principal on ally Future Advances.
<br />d. CMgra; Meas. Bnrrowir shall pay at! taxis. assessments and other charges, fines- and impositions attributable 40
<br />the Property which creep attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manor
<br />provided under paragraph 2 hereof or. if not paid in such manner, by Borrower making payment, when due, directly to the
<br />payee thereof. Botrovrer shat! prtuaptly fury=sh w Letxder all notices of amounts due under this paragraph, and in the event
<br />Borrower shall maize payment directly. Bornower shall promptly furnish to Lender receipts evidencing such. payments.
<br />Botrawer shall prtmtpttp dist:hargi any lien 'which has priority over this Mortgage; provided, that Borrower-shall not be
<br />requited to dsschargt anp such }tin so long as Borrower shalt agree in writing to the payment of the obligatien secured ley
<br />s t;s. in a ~-.~= a,~~~~ to L~,:~r, o. st;a.'l ° : g~cl fait,'(: a;.ttist s.:^'.: lien by, or dif~.d infor=emeni of sash litre it,
<br />legal proceedings which operate to prevem the enforcement of Fhe litre ar iorfiituri of the Property or any part thereof.
<br />3. )lia;e~d Ias>~sance. Botraxer shall keep the improveattttts now existing or hereafter created on the Property insured
<br />against loss by fm, hazards included within rite term "extended coverage". and such other hazards as Lender may require
<br />sad in Such arnounta and for st,_" ~ri~ts as Leadec may require; provided, that Lender shots net require that tire- amount of
<br />such coverage exet~i that amount of caveragi required to pay the sums secured by this Mortgage.
<br />The irrsuraace carrier providing the insurance shalt be chorea by Borrower subjtcr to approval by Lender, provided,
<br />that such approval shall not be unreasonably withheld. All premiums an insurance policies shat! be paid in the manner
<br />provi~d t~.der parag.~,~ Z hereof cr. if acre paid in3ttch manner, by Barnower making paymiat, when dui. ditrctly to the
<br />insurance carrier.
<br />Ail insurance policies and renewals thereof shalt be in form acceptable to Lender and shall include a standard martgagt
<br />clause in favor of and in form acceptable to Lender. Leader shalt have the right to hold the paticiis and renewals thereof,
<br />atxl Borrower shalt promptly furnish to Lender all renewal notices and nit receiprs of paid premiums. In the event of loss,
<br />Borrower shalt give prompt notice to the instuance carrier and Leader. Lender may make proof of loss if not made promptly
<br />by Harrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shalt be applied to restoration or repair of
<br />the Property damaged, provided such restoration ar repair is economically feasihle and the security of this Mortgage is
<br />not thereby impaired. If such res[oraaan ar repair is eat eca:totnicatty feasible or if the security o€ this Mortgage watild
<br />be impaired, the insurance procceds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid
<br />io Borrower. If the Property is abandoned by Borrower, or if Bornawer tails to respond to finder within 30 days from the
<br />daft aatiei is mail~f by Linder to $orrowtr that the insurance carrier otters to settle a claim far insurance beotfits, Lender
<br />is authorized to collect and apaiy the '•tsurance proceeds at Lender's option either to restoration or repair of the Prttperty
<br />or to the soars secured by tins Mortgage.
<br />Unless Lende* and Borrower otherwise egret in writing, any such application of proceeds to principal shalt not extend
<br />or postpone the due date of the monthly installments referred za in paragraphs I and 2 hereof or change the amount of
<br />sttclt irtstalltneats. if under paragraph 18 beret the Procerty is acquired by Lender, all right, title and interest of Borrower
<br />in sad to any insurance policfles and in and to the groceids thereof re;uiting from damage to the Properly prior to the sale
<br />or acquisition shalt paw to Lender to the extent a€ the sums secured by this- Mortgage immediately prior to such sak ar
<br />.acquisition.
<br />~. Pteservatian rind Maintensna ~ Propext_r, Leaseholds[ Cotnleminlums; P-attxed Uglt I?evelrrprtaents. Harrower
<br />shall-kelp the Property in good repair and shall not commit waste or ptnait impairment or deterioration of the Property
<br />and-shall amply with the previsions of any Rase if-this Mortgage is on a IeasehQld. If this Mortgage is on a unit is a
<br />cotidtintinium or a placated unit development, Borrower shall perform all of Borrower's obligations nndir the declaration
<br />or careisa,.ts creating-or goE°erning the condarrinium or ptannid uiEit development, the bylaws -arid tegulatiotis of the
<br />condimtirtittm or plaatted unit development, and camtituent documents. If a condominium or planned unit devetaptnent
<br />tides: is. etcecueed by Bor*owu and reseeded together with this Mortgage, the. covenants and agreements of such rider
<br />shalt lte,tncorporated.-iffio and stsall amend and supplement the covenants-and agreements of_ this Mortgage as if the rider
<br />were apart h=reaf• -
<br />fit. Pratecfian. uf. Liudia?a 5ecarffy. If Sorrowex faits to perfartn the covenaats acid agreements contained in this
<br />tdairtgage, or if anp actioq 4r groeeeciiag is tzxmaienced which ntatitiaily affects Lender's interest iEi chi Projtetr,•,
<br />inehrtllr+g, hilt rent Iintifed to ttaincnt daznain, insotvencp, ct+de enfercetnettt, ur ariangitneats or praceedtngs involving a
<br />~ or decedent, then I.eixier at feciner's:option,upon nsttice to Borrower, map-make-such appearances, disburse such
<br />soma and. take each action as is nicessarg tv protect Lertdet's interest, inclitdiag, but rent limited to, disbursement of
<br />rtasanattte attorney's fees and e,a~y upon the-Property to make- repairs. If Lauder- requited mortgage insurance as a
<br />condition of creaking the roan secucert by this A3ortgsge, grower shall pay the premiums- required to maintain such
<br />iawrrati#x in effect tttttit such Mime as-the requirement far -such insurance terminates in accordance with Borrower's and
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