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<br />rtN,poa.; ~^:MNa:s;s, Horrawer and Ler,dt:r ca.-„~ t and agrt~ as follows:
<br />I. Fayteeot of Frincipal acrd Anterest. Borrower shall promptly pay when due the principal of and interest on ffie
<br />indebtzdness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on any Fumre Advances secured by [his Mortgage.
<br />2. Foods for Tales clod Imuraoce. Subject to applicable taw or to a written waiver by Lender, Borrower shad pay
<br />to Lender on the day monthly installments of principal and interest are payable under the Note, until the Note is gaid in full,
<br />°-~: f}:~ eir, "FUnda'; eq•..ai io or,.~twe:ftl: of thz yeasty ta.=.es gnd assessments which may attain priority over this
<br />Rlortgage, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />pltr. one-twelfth of yesrlw premium installments for mortgage insurance, if any, all as reasonably estimated initially and #rom
<br />time to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />T7te Funds shall be held in an itisiitution the depgsits or accounts of which are insured ar guaranteed by a Fgdzra_1 nr
<br />state agency (iactudin¢ Lendar if Lendar is such an institution). Lender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums atxf grgnad rents. Lender may not charge for so balding and applying the Funds, analyzing said account,
<br />or veii€ying and compiling said assessments antt bills, unless Lender pays Borrower inieresi on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of exzcution of this
<br />Mortgage that interest on the Funds shalt be gaid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not be required to gay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and- the
<br />giirpo_se-for which each debit to the Funds was made. The Funds are p}edged as additional security for the sums secured
<br />by this Mortgage:
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />[ice due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxis,
<br />a,i~sv..+ents, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid iq Borrower or credited to Borrower oa monthly installments of Funds. If thz amount of the Funds
<br />held by Leader shall not be stifflcient to pay taxes, assessments, insurance .premiums and ground rents as they fall due,
<br />Borrower shalt pay to Lender any amount necessary to make up the deficiency within 3(l days from the date notice is mail
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by ibis Mor=.gage, Lendar shalt promptly refund to Borrower any Funds
<br />field by Lender. If under paragraph 28 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than irnmediaiely prior [o the sale of the Property or its acquisition by Lender, nay-Funds held by
<br />Leader of the time o€ apphcarign as a credit against the sums secured by this Mortgage.
<br />3. Application of Faymenfa Unless applicable law provide otherwise, all payments received by Lender under the
<br />Note and paragraphs f and 2 hereof shall be applied by Lender first in paymem of amounts payable to Lender by Borrower
<br />tinder paragraph 2 hereof, they to interest payable on the Note, then to the principal of the Nate, and then to interest and
<br />principal on any Fu[[tre Advances.
<br />4. Chsrgea; i.le~. Borrower shalt pay all taxis. assessments and other charges, fines and impositions attributable to
<br />the Property which tray attain a priority over this Mortgage, and leasehold payments or ground reins, if any, in the rttaoner
<br />provided under paragraph 2 hereof or. if not paid in retch manner, by $arrower making payment, wften due, directly to the
<br />payee theteo€. Harrower shall promptly furnish to Lender all notices of amtiunu due under this paragraph, and in the event
<br />$oirower shall make payrttent directly, Borrower shall promptly ftinish io Lender receipts evidzncing such payinener
<br />~srrower shall promptly discharge any lien which has priority over this A4ortgage; provided, that Borrower shall not be
<br />required to discharge any such lien. so fang as Borrower shall ague in writing to thz payment of the obligation secured by
<br />such hen in a manner acceptable to Lender, or shall in good faitft contest such Lien by, or defend enforcement of such hen in,
<br />lsgal proceedings which operate to prevent the en€otcetnent of the lien or forfeiture of the Progeny or any pact thereof.
<br />8. Ydaz.~d Yas~rtce. Borrower shall keep the improvements now existing or hereafter erected on thz Froperty insured
<br />agaiiist Ions by fire, hazards included within the term "zxtended coverage", and such other hazards its Lender may require
<br />and is such amounts and for such periods as Lender may require; provided, that Lender shelf not require that the amount of
<br />such cgverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
<br />TZte insurance carrier providing the insurance shall be chosen by Harrower subject Yo approval by Lender, provided.
<br />that retch approval shsii not be unreasgnably withheld. Ali premiums on insurance policies shall be paid in the manger
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Harrower making payment, when des, directly to the
<br />itisurattce carrier.
<br />Alf insurance policies and mnewals ehereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in #avor of and in form acceptable to Lendss. Lender shall have the right to bald the palicizs and renewals thereof,
<br />and Borrower shall promptly furnish to Lender all renewal notices and elf receipts of gaid premiums. Ia the event of loss,
<br />Borrower shaft give prompt notice to the itsurance carrier and Lender. Leader may make proof of foss if not made prompL`y
<br />by iivrrawci.
<br />Unless Lender and $orrawer oiha•'wise agree in writing, insurance proceeds shall be applied Yo rzstoration or rzpasr of
<br />tfie Property damaged, provided such restoration or repair is economically feasible and the security of ibis Mortgage is
<br />not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Mortgage would
<br />6e impaired, the insurance proceeds shall be apgtied to the slims secured by this Mortgage. with the excess, if any, paid
<br />io Horrower. If the Property is abandoned 6y Borrower, ar if Harrower faits to respond to Lender widtin 3t3 days from the
<br />data notice is mailed by lender to Borrower that the insurance car:-ier offers to settle a claim for insurance benefits, Leader
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or to the sums secured by this Mortgage.
<br />Unless Leader and Harrower otherwise agree in writing, any such apgtication of proceeds m principal steal] not ex[emd
<br />or postpone the due date of the monthly tiistaifinents referred to in paragraphs I and 2 hereof or change the amount of
<br />such installtneats. If under paragraph 1& hereof the Propei-iy is occulted by Lender, all right, title and interest of $acrower
<br />in and to auy insurance policies and In and to the proceeds thereof : ~>uliing from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the-extent of the sums secured by this Mortgage immediately prior to such sale or
<br />acgtiis'tthrn.
<br />t+. Pieseivafltm and 14IIaintenance of Property; Leaseholds; Coadomiafetos; Planned Unit DeveloprtteMS, Botzower
<br />shall keep the Property in good repair and shall not commit waste or permit itngairment or deterioration of the Property
<br />and shall comply with the pravisians of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a
<br />condominfttm or a planned unit development, $orrower shall perform alt of Borrower's obligations under [he declaration
<br />or eovetian(s creating ar governing the eondom'snium or planned unit development, the by-laws and rsgufations of the
<br />condominium or planned unit development, and constituent documents, If a condominium or planned unit development
<br />rider is eiYeeuted by Borrower acid recorded together with this Mortgage,. Ehe covenants and agreements of such rider
<br />shall tie incorporated into and shalt amend and suppletitent the covenants and agreements of this Mortgage as ff the rider
<br />were a pant hereof:
<br />7: Pis~cetlau of keode~r"s Seemrity. If Biurower fails-tQ perfornt the covenants sad ngt~eemenis contained in this
<br />.Mortgage, or if; any action ar proceeding is commenced which. maistialIy affzets Lender's interest in the Property,
<br />tnsltuling, but not liatited t-v, eminent domain; ittsolyeitcy, code en€tircement; or arrangements or grcceedings involving a
<br />b~tkr€ip[ or ~eosdent; flteti Lender at lxttdet's opgoii, upon itotiix to Borrower, may iiiake such appearances, disburse such
<br />sumx-and islet.at~h aethin as is necessary io protect Lender's. interest,- including, but not limited to, disbursement of
<br />reasonable attotnsy's-fees aitd entry upon the Proj>°.-ty [a make regains. Tf Lender required mortgage insurance as a
<br />condiiiou of, _tna§irg #lie loan secured by -this- Mortgage, Harrower chaff-pay the premiums required to maintain such
<br />ioavrance in effect ~ttttil such time as the requirement for such insurance terminates in accordancz with Borrowers an.!
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