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79--` ~.~
<br />IUrrrtroa~.t ~Gdvexe~TS. Borraarer and Lender cavenan~: and agree as follows:
<br />I. '~ esf PsgY ast~d Imerest. Harrower shall promptly pay whtn due the prir~ipal of as^a3 interest on the.
<br />imdtbtedtteesa c~idenecd by the Nate. prepaymwt and late charges as provided in Ilse Note. and the pri~ncipai of and interest
<br />~ say Future Advattce< secured by this Mortgage.
<br />Z. ) for fiazes sad Iasaramee. Subject to applicable taw or to a written waiver by Lerus.er, Borrower shag pay
<br />to Lender an the day monthly insialhncnts of principal and interest arc payable under the Note, unfit the Note is paid in full,
<br />a suns (herein "Panda }equal to one•twelfth of the yearly taxes and assessmenu which tisay attain priority over this
<br />Mortgage, and ground rents on the Property, if any, plus orte-twe)hh of yearly premium installments far hazard insurance,
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />timt to time by Lender on tbe basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held irs an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency tincltiding Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessttsettu,
<br />insurance premiums and ground rents. Lender may not chazge for so holding and applying the Punds, anal zing said account,
<br />ar verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable taw
<br />permits Letsder io make such a charge. Borrower and Lender may agrce in writing at t}>r time of execution of rh;c
<br />Mortgage [hat intermit on the Funds steal! be paid to Borrower, and unless such agreement is made or applicable tirv
<br />requires such interest to be paid, Lender shall not be required to pay 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 rtes rands and t}>r
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums sxured
<br />by this Mortgage.
<br />If tlx amount of the Funds Geld by Lender, together with the future monthly irstallments of Funds payable prior to
<br />the dsis dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount reyuired to pay said taxes,
<br />assessments, insurance 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 on monthly installments of Funds, Lf *_he atrcu^.i 3f i~R Funds
<br />held L; Lend,-: >haL' not ba suf6cien[ to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower 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 pazagraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lander
<br />shall apply, no later than immediately prior to the sate of the Property or its acquisition by Linder, any Funds held by
<br />Lender at the time of application as a credit against the sums secured by this Mortgage.
<br />3, tlpplleat~ of 1Paymeata. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs i and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />principal oa any Future Advances.
<br />4. Clrarges; Iieffi. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable *.o
<br />the Property which may attain a priority ove; this Mortgage, and leasehold payments or ground rents, if any, 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 />payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing suds payments.
<br />Borrower shalt promptly dischazge any lien which has priority over this Mortgage: provided, that Borrower shall not be
<br />required to discharge any such lien 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, or shalt in good faith contest such lien by, or defend enforcement of such lien in,
<br />tegat proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5, Hazard Ia4araace. Borrower shall keep the improvements now existing or hereafter erected 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 Lender 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 instuance carrier providing the insurance shall be chosen by Borrower 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 isoi paid in such manner, by Borrower making payment, when dut, directly Eo the
<br />instis'aace carrier.
<br />All insurance policies and renewals thereof shall be in font; acceptable to Lender sad shall include a standard mortgage
<br />clrirse in favor of and in form acceptable to Lender. I~nder shall have the right to hall the policies and renewals thereof.
<br />and Hotrowcr shall promptly furnish to Leader all renewal notices and all receipts of paid premiums. In the event of loss,
<br />Borrower shalt give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promp[iy
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />the Pro_otrty da_rrsa„ ~, pMvidcd such re;iararion or repair is economically feasible and the security of this Mortgage is
<br />rani 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 the sisms secured by this Mortgage, with the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
<br />dart notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
<br />is auttrorized to collect sad apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or to the sutras secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shalt not 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 />stick installments. If trader paragraph l8 hercef the Property is acquired 6y Lender, all right, title and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds hereof resulting from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the extent of tlse sums secured by this Mortgage immediately prior to such sale or
<br />acquisition.
<br />6. IPebervation and Maiateeaace of Property; Leaseholds; Condominiums; Planssed Usslt Developments. Borrower
<br />shall Icap the Propertysn good repair and shall not commit waste or permit impairment or deteriora[ion of the Property
<br />and shall comply with the provisions of any kris if this Mortgage is on a leasehold, If this Mortgage is on a unit in a
<br />condominium or a planned unit development, Borrower shall perform all of Bormwei s obligations under the declaration
<br />or covetants creatitsg or governing the condominium ar planned unit development, the by-laws and regulations of the
<br />condomiaitim or planned unit development, and constittunt documents. If a condominium or planned unit development
<br />rider is executed by Borrower and recorded together with this Mortgage, the covenants and agreements of such rider
<br />sha[1 bo ascorQOrated into and shall amend and supplement the-covenants and agrcements of this Mortgage as if the rider
<br />were a part hi:reaf.
<br />7. Ptoteet~rs M I.eoder's SeeueitY. If Borrower fails to perform We Covenants and agreements contained in this
<br />iuv^rtgage, or if say action oc proceeding is commenced which materially affects Lender's interest in the Property,
<br />including, -but not limited to, eminent domain, insolvency, cube enforcement, or arrangements ar proceedings involving a
<br />lsantrupt or decedent, then Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such
<br />suns and take stseti action as is necessary to protect Lenders interest, including, but not limited to, disbursement of
<br />rtasoaahle-Mtmaay'a f~ and entry uptsn the Property to make repairs. If Lender required mortgage insurance as a
<br />eoaditien of ins the loan secured by this Mortgage, Borrower shall gay the premiums required to maintain such
<br />iasurassce in tffxt until such tirtse as the requirement for such insurance terminates in accordance with Boreowei s and
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