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~ UxtPOaM Covexexrs. Borrower and Lender covenant and agree as follows:
<br />,~ 1. Payment o€ Pdnclpal and Interest. Borrower shall promptly pay whin due the principal of and interest on the
<br />x indebtedness evidenced by the Note, prepaymena and late charges as provided in the Nate, and the principa! of and interest
<br />"~ oa any Future Advances secured by this Mortgage.
<br />~ 2. )' for Taxes ~xI lnsuraaci. Subject to applicable law or to a writer. waiver by Lender, Borrower shall pay
<br />~ to Lender as the day ttiortthfy installments of principal and interest are payable under the Nate, unlit the Note is paid in full,
<br />a stmt (herein "F[mda") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />~ Mortgage, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />~ plus one-twelfth of yearly premium installments far mortgage insurance, if any, all as reasonably estimated initially and from
<br />tints to time by 'Leader oa the basis of assessments aad bills and reasonable estimates thereof.
<br />The Funds shall be beld is an institution the deposits or accounts of which are ins`ur'ed or guaranteed by a Federal or
<br />state agency {including Leodtr if Lender is such an institution). Lender shall apply [barn un~ Funds, anal}z g said account,
<br />insurance premiums and ground rents. Lender may not charge for sa holding and app y g
<br />ar verifying attd compiling said ass[xsrtsents and bills, unless Lender pays Borrower interest on tbe Funds and applicablt law
<br />permits Lender to make such a charge. Borrower and Lender 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 taw
<br />regwitas such interest to be paid, Lender shall not be required to pay Harrower any interat or earnings an the Funds. Lender
<br />shall give w Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. Tbe Funds are pledged as additional security for the sums secured
<br />by this Mortgage. able riot to
<br />Tf the ataoun! of the Funds held by Lender, together with the future monthty installments of Funds pay p
<br />the dire dates of taxes, assessments, insurance premiums and ground Bents, shall exceed the amount required to pay said taxes.
<br />ass~ssnaeau, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />ptnmpfly repaid to Borrower or credited to Borrowu or. monthly installments of Funds. If the amount of the Funds
<br />hold by Leader shag not be t+1r1f3Cieat to Pay taxes, assessments, insurance premiums and gmund rents es they fall due.
<br />Sorttnru shall pay to Under any atnount aesessary to make up the deficiency within 30 days frcm the date notice is mailed
<br />by i-eadrr to Borrowu ttgitesting Pa)'ment thereat.
<br />Upon payment in ftrB of all sums secuisd by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />Mid by Lender. If un~ paragraph 1$ hereof the property is sold or the Property is otherwise acquired by Lender, Linder
<br />shstl arialy, r>Q later than immediately prior to the sale of the Property or its acquisition by Linder, nay Funds held by
<br />Leader at the flint of application as a cttdit against the sums sectiretf by thrs Ma~.ga~.
<br />3, at paymeafa. Unless applicable law provides otherwise, all payments received by Lender under tbe
<br />NoEe ~d pA ys I and y hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />[taller patsgtaph 2 hereof, rhea m interest payable on tbe Note, then to the principal of the Note, and then to interest and
<br />pttacipsl on any Ftttttre Advances.
<br />q, IJr$, Borrow'tr shalt pay all taxes. assessments and other charges, fi~ and tmpostuans a~tnlbfe tuner
<br />tI>: PropettS which tiny attain a priority over this Mortgage. and leasehold payments or ground rents, if any,
<br />pttyvided tinder paragraph 2 hereof ar. if not paid in stuff manrrer, by Borrower making pa}'mtrit, when due. directly to the
<br />payee th[xoof. Borroiee'r shall promptly ftanisls to Leader ail notices of amounts due under this paragraph, aad in tbe~event
<br />Btxxower shall snake payment directtY. Borrower sha1B promptly furnish to Lender receipts evi~tuing such pay
<br />Borrower shs11 promptly discharge any lien wfiich has priority aver this Mortgage; provided, that Borrowu shall not be
<br />W any such lien so long as Borrower shall agroe in wnt[ng to the payment of the obligation secured by
<br />sash lim in a manner aotxptabie to Leader, or shalt in goad faith rnntest such 1rn by, ar defend eafotcettient of sucht~reof.
<br />~ peotzedings which oprxate to prevent the tnfoti:ement of the lien or forfeiture of the Property or any part
<br />3, Itimri ]frrrtrarace. Borrower shalt keep the improvements now extstmg or hereafter erected on the Property insured
<br />s~ {~ by fire, hazards included svttlsm the term "cxurided coverage", Bad such other hazards as Lender may require
<br />aad in atrch amounts aad for such petiads as Leader may require; provided, that Lendir shall not require that the amount of
<br />such [coverage exceed that atnwtnt of covuagc required to pay the cams soured by this Mortgageval by Lender, provited,
<br />.~ iffittrame crier atovjding the iasurmee shall bt chcaen by Borrower subject t c~t be paid in the manner
<br />[5u such appmvat shsB not be unriaaanablY withheld. All premiums on insurance Pal.
<br />~ tondo paragraph ? 3eriaf or, d not paid in stub meaner, by Botrowu making payatent, whin due, directly to the
<br />imtaraar.~t carries.
<br />~ policies sad teaewals threat shall be in farm acceptable to Lendir and shalt include a standard mortgage
<br />t~ttxai in favor of aad in form autpta63e to Ludes. Lender shall have the tight to nold the policies and renewals thereat.
<br />sad g s-salt Y ftnaah to Lender alt reacw'ai notices and all receipts of paid ptMttut`->r. 1n the event of loss,
<br />)kosros[rs shall give Qrompt rouse to the iawr'ar3~Y ;artier aad leader. Lender [nay make proof of less it net n:adi ~amptly
<br />by Barroa~er. lstd to resmration or repair of
<br />Uales Leader and Barawer ather+vrsc agree to r'[tong.. insurance proceeds shalt be app
<br />the Property damaged. provided such rtxtorusan or repast [s ccottaati>Lally feaubk attd the security of this Mortgage n
<br />aas theas`by its~tatred. I€ stash restarattoa or repot [s riot ecanamically fcastNc or [f the secunty of this Mortgage would
<br />dull be tell to thr sums stxured b} this Mortgage. K[th the excess. if any. paid
<br />be iaapsired, the imuraare ptotxeds ~
<br />act &atro~sea. If site Property a abandaaed tf} BarrawYt, ar tt Barrowv fa+ls m tespaod to Ladder wt[h[n 30 days from the
<br />date is [nailed b)' Linder to Bnrrow'<x that the :ruutance carrrcr afters to seek a claim far tastuancc benefits. Lender
<br />~ asthios~ to cailtet axed apply the irtsuraa`-e luoceesfs at Lttr3er's option eitlus ro teuaration or repair of the Propett}
<br />ar tr+ ~e timiK sccsrrad in t~ M
<br />()~ i ~~.r and Bormarer othea°n'iri a~tce m ar[ting. an) such applicattort of pracesds to pnncipal shall oat extetxl
<br />and ? hereof at change the amount of
<br />or postpone the due dart ell the taonthl)' ir[sralitnents refetzid io [n paragraphs
<br />mkt ){ uade prarsgraph 1$ baton[ ttx property [s a,-qutrai b) Leader, a!1 right, title and interat of Borrower
<br />is aatd m aaY ia~=r9oe patuaes and in aad to the praomds thireoi resuftiag frarn darra~ to the Property prior to tFte sale
<br />~ sisali p~ m I.catl~ to the extras'- of tls rums secured by this Mortgage [mttxdiately prtar to such sale ar
<br />' Plasaed Unit Ikvebpments• Borrower
<br />j' ant ~ ~ i.easshr+id~ C t era rmcnt or detcrioratian of the Property
<br />s ~p the P>topaty m load ~' ~ stns zcsmmit waste or permi Pat
<br />a~ ~ web the p[ovsswns of my lane if thss Mortgage is as a leaubold. if thii Mortgage is on a unit in a
<br />aoortm ar a planned tart ~, >~uuso» shall Pcsfarm aU of Bormw¢r s obl[gations under the declaration
<br />ar aarlesnus~ crag ssr IiE ~ caadmriaium or planned unit dove-opment, tl~ by-law~a~rinUtade elo merit
<br />~ ~ and cat>stittrent dacoatznfi. _t a coadomiaitim or p P
<br />eeasdor cv l with this Mortgage. the covenants and agmmenu of stub rider
<br />tiller ~ e ~ aad rscw'ded togaher the tmvtttaats and agreearcrits of this Mortgage as if the rider
<br />~ he iaeerpoo~sd iffio atoll aTs~l asread aad wpplrmcnt
<br />rotate a l~ar!t lrmQttf, nts coatairitd in this
<br />,S ~ $~. I# Bcrrowc~ #ails to perform flee covenants and agtezmi
<br />~ ~ ~ as9 a~ as g camtoerxed which mat~iaNy affecu Lenders interest in the Pr,Ilerty,
<br />~ not >~sed ta. etmnmt da®ahi, insolvent,}', code enforcement, or arrangements or proceedings involving a
<br />ar d:!~t, taaa Lender at Ltadrr^s option, upon aotitx to Barrawir, maY make s[rch appearat[ces, disburx such
<br />s~ ~ ~ s~ action as g wary w protect Lemkr's interims, iociudiug, but not limited to, disbursement of
<br />reivttnable ad's jtp toll entry upon the property to make repairs. If Lender required mortgage insurance as a
<br />coattition of malting dre lone secured by fibre Mortgage, Borrower shalt pay the premiums required to maintain such
<br />iosmrmoe ~ ~,q >~t >~ as t32e regairemtnt for such insurance tertninatcs in accordance with Borrower's and
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