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<br />79--~t~5~~
<br />Uxzfcra~s Cavt:tr,trvrs. Borrawez sad Len~r cavenarts and agrer as #ollorra:
<br />1. 1!fyat~ of Psfarl~al sad tilesa+t. Borrower shall promptly pay when flue the pritcipal of and interest on the
<br />indebtedness evidenced by the Noe, prePaymer3t a~ Iau charges as provided in the \ote, and the priacipr:l o[ and interrxt
<br />oc any Future Advaaas secured by this Mortgage.
<br />2. Fmids for Taos astd Iastattaace. Subject to applicable law or to a writmn waiver by Lender. Borrower shag pay
<br />irr Lender oa the day manthty i~tallmeats of prirxipal and interest art payable order the Note, omit the Note is paid in full,
<br />a sum {herein "Ftmda'~ equal to oo~twelhh of the yearly taxes and assessmenu which may attain priority over takes
<br />Mortgage, artd grotmd rents oa the Property, if any, Plus one-twelfh of yearly prcmuum instat}meau for hazard iawranar.
<br />pttu oa-twelfth of yearly pranium itutalharnts for mortgage insurar~e, if any, afl as reasonably estimated initially and fry
<br />time to time by Lender on the basis of assessmenu and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposiu or accounu of which are irutued or guaranteed by a Federal or
<br />state agency {ittcittding Lender if Lender is such an institution). Lender shall apply the Funds [o pay said taxes, assessrrrents,
<br />inatrrance premiums ate ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and compliag said assessmenu and bills, unless Lender pays Borrower interest on the Funds and applicable taw
<br />petmiu Lender to make such a charge. Borrower and Lender may agree is writing at the time of execution of this
<br />Mortgage that interest on the Funds :hall be paid to Borrowcr, and unless such agreement is made or applicable law
<br />requires stu;h interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Ftmds. Ltnder
<br />!halt give to Borrower, without chazge, an annual accounting of the Funds showing crediu and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional secarriry for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender, together with the future monthly instalhnents of Funds payable prior to
<br />the dtte dates of taxes, assessmenu, insurance premiums and ground rents, shall exceed the amount required to pay said fazes,
<br />aasesamenu, insurance premiums and ground renu 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 Foods. If the amount of the Furrds
<br />held by Lender shall not be strffitaent to pay taxes, assessments, insurance premiums and ground renu as they fall due,
<br />Botrawer 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 Porrower 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 Leader, Lender
<br />shat! apply, no later than immediately prior to the sate of the Property or its acquisition by Lender, nay Funds held by
<br />Lender at the tirnc of application as a credit against the luau secured by this Mortgage.
<br />3. Apptkatloa of Psyments. Unless applicable law provides otherwise, all paymenu received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounu 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 thin to interest and
<br />principal on any Future Advances.
<br />4. Charles; liens. Borrower shall pay all taxes, assessmenu and other chazges, fines and impositions attributable 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. Borrower shall promptly furnish to Lender ail notices of amounu due under this pazagraph, and in the event
<br />Harrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such paymenu.
<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 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 shall in good faith contest such lien by, or defend enforcement of such lien in,
<br />-egal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part ttsereof.
<br />5. Hazard Iowrance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against lass by fine, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br />and in such amounu and for such periods as Lender may require; provided, that Lender shalt 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 insurance catxier providing the insurance shall be chosen by Borrower sub}ect 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 />itsurance carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />dense in favor of and in farm acceptable to Lender Lender shall have the right to hold the policies and renewals thereof,
<br />and Borrower shaCl promptly furnish to Lender all renewal notices and all receipts of paid premiums. Tn the event of Ioss,
<br />Borrower shalt give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
<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 />not 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 stuns 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 />date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
<br />is authottized to collect and apply the insurance proceeds ai Lender's option either to restoration or repair of the Property
<br />or to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installmenu referred to in paragraphs 1 and 2 hereof or change the amount of
<br />wch installments. If under paragraph IS hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resuhing 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 sate or
<br />acquisition.
<br />6. Ptaaewatioa and Maiatettaoce of Property; Leaseholds; Condominiums; Planned Unit Developments. Harrower
<br />shall-keep the Property in-good repair and shall not commit waste or permit impairment or deterioration of the Property
<br />-anti shall comply with -the provisions of any lease if this Mortgage is on a leasehold. if this Mortgage is on a wait in a
<br />;.ondominium or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration
<br />or covenants creating or governing the condominium- ar planned unit development, the by-laws and regulations of the
<br />eondorninittm or planned unit development, and constituent documents. If a condominium or planned emit development
<br />rider is executed by Borrower and recozded together wiW this Mortgage, the covenanu and agreemenu of such rider
<br />abet( be incorporated into amt shall amend and supplement the covenants and agreements of this Mortgage as if the rider
<br />were a part hereof.
<br />'f. ]Proteetloa of Leader's 3ecmify. If Botxower fails to perform the covenants and agreements contained in this
<br />Mortga~, or if any action or proceeding is commenced which materially affects Lender's interest in the Property,
<br />including, but not limited to, eminent domain, insolvency, code enforcement, ar arrangements or proceedings involving a
<br />bttakrvQt or decedent, then Lender at Lender's option,. upon notice to Bortawer, may make such appearances, disburse such
<br />stems and take stxh action as a necessary to protect Lender's interest, including, but not limited to, disbursement of
<br />reasonable attorney's. foes and -entry upon the Property to make repairs. If Lender required mortgage insurance as a
<br />condition of titaking the Moan secured by this Mortgage, Borrower shall pay the premiums required to maintain Bach
<br />insurance in effect rmtit such time as the requiret»em far such insurance terminates in accordance with Sorrowei s and
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