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<br />~rr~aa r f;'a~rp~!•en~!vt~. ~rrowwr and ~Lwndwr wow~enam a3~sd afr„sore asi ft:rllt;w;;.
<br />I. T'ayaatent trf Prltut:~ri aad lm~teaest, Borrower shall prarrtpaly pay whwm due the principal oaf artd iniwrwst on fnw
<br />iade~bzwdns;ss evidenced by the Note, prepaiymwnt and late charges as provided in the mate„ a,nd [lnw principal of and inzwrest
<br />on any Future Advances secured by this Mongage.
<br />2. Farsds f~ Tttses ~ Itce. Subject zo app licabk i2w ar to a written waiver by Lender, Boranxcr shaA pay
<br />to Lender an the day monthly insia3lntents of principal and interest are payable under the Note, until Use Notw is paid in full,
<br />a sttm (herein "Funds'°) equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground zetds on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yeazly premitmt installments for mortgage insurance, if any, all as reasonably estitrtated initially and from
<br />time to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Futtds shall be held in an institution the deposits ar accounu of which are insured or guaranteed by a Federal ar
<br />state agency (including Lender if Lender is such an institudon). Lender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground tents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />ar verifying and compiling said assesstnenu and bills, unless Lender pays Borrower interest on the Funds and agphcabte 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 law
<br />squires such interest to be paid, Leader shall not be required to pay Borrower any interest at earnings on Use Funds. Lender
<br />shall give to Borrower, without ~hazg^., an annual accouming of the Funds showing credits and debits to 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 Mortgage.
<br />7f the amount of the Funds held by Lender, together with the future monthly 'snstallments of Funds payable prior to
<br />the dce dates of razes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, insuranct premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower an monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall trot be sufficient to pay taxes, assusments, insura~ premiums and ground rents as they fall due,
<br />Bottower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph I8 hereof the Properly is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior [o the sale of the Properly or its acquisition by Lender, any Funds held by
<br />Lender at the ame of application as a credit against the sums secured by this Mortgage.
<br />3. Appiicaeion of Paymenfs. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs 1 and ~ hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />tinder paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Charges; Dens, Borrower shall pay all razes, assessments and other charges, fines and impositions aitributabie to
<br />the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manner
<br />provided tinder paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />payee thereof, Hormwer shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall snake payment directly, Borrower shall promptly famish to Lender receipts evidencing such payments.
<br />Borrower shalt promptly discharge any lien- which has priority over this Mortgage; provided, that Borrower shall not be
<br />required to discharge any such liven so Long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, ar shad in good faith contest such lien by, or defend enforcement of such lien in,
<br />legal proceedings which operator to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5. $azard Insurance. Borrower shall keep the improvements now existing or hereafter erecttd on the Property insured
<br />against loss by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br />and in such amounts and for such periods as Leader may require; provided, that Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
<br />The iasur~=ice carrier providing the insuranew shall bw chosen by Borrow>=r subject to approval by Lender; provided,
<br />that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />insuratux carrier.
<br />All insurance paliciws and reaewala thereof steal! be in farm acceptable to Lt;ndEr and shall include a standard mortgagor
<br />clauu in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof,
<br />and Borrow~wr shalt promptly furnish to Lender ail renewal notices and alt receipts of paid premiums. In the event of loss,
<br />Borrower shall give prompt notice to the insurance ear. per and Lender. I.cnder may make proof of toss if not made: prampUy
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
<br />pat thereby impaired. If such restoration or repair is not economically feasible or if the security of this Mortgage would
<br />be impaired, the insurance proceeds shall be applied to th° sums secured by this Mcrtgage, with the excess, if any, paid
<br />to Harrower. If :;:e Property is abandoned by Borrower, or if Battawer fails to respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Properly
<br />or to the sums secured by this Mongage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal steal! pat extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments. If under paragraph l8 hereof the Property is acquired by Lender, alt right, title and interest of Harrower
<br />in and to any insurance policies and in and to Ute proceeds thereof resulting 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 sake c;
<br />acquisition.
<br />b. Pteservatiou aad Maiatenance of Property; Leaseholds; Condominiums; Planned Unlt Devebpmcnts Harrower
<br />shall kaep the Property in goad repair and shall not commit waste ar permit impairment or dwtcrioratiun of the Pra_acrty
<br />and shall comply with the provisions of any lease if this Mortgage is on a leasehold. if this Mongage is on a unit in a
<br />coadatttinittm or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration
<br />or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the
<br />candtnniaitim or planned unit development, and coas[ituent documents. If a condominium or planned unit development
<br />rider es executed by Borrower and recorded together with this Mortgage, the covenants and agreements of such nder
<br />ahali be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
<br />were a part hereof.
<br />~. Pr~eeUos of Leader's Sewusiiy. if Borrower fails ro perform the covenants and agreements contained in this
<br />Mortgage, or if aay action or proceeding is cottuneaced which materially affects Lender's interest in the Properly,
<br />including, but tort. limited to, wminem domain, insolvency, code enforcement, or arrangements er proceedings involving a
<br />bankrupt or decedent, then Lender at. Lender's option, upon notice to Borrower, may make such appearances. dtstwrsc such
<br />alma artd take attch action as is necessary to protect Leaders interest, including, but not limited ta, disbursement of
<br />==°r~snablE attosttsy's ftzas and entry upon the Property to make repairs. If Lender regal td ,:tartgagw insurance-- a; a
<br />~-c,--idnion of s~aiciflg the lawn s,-ccttred by silts Mongage, Sarrower shaft pay the premiums rwquirzd to maintain ,tteh
<br />..~:: in eff~t uatii ss<_Ir tip as it€e rwqufrn~»t for s=.tch insurat~e €erminatws in accerdarr_e wish Bar~awer's and
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