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<br />~s~ uc,~982
<br />Uxrrotut Covexexrs. Borrower and Lender covenant and agree as follows:
<br />I. Payment of Principal sad Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedtress evidenced by the Naze, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on aaq Future Advances secured by this Mortgage:
<br />Z. Faada for Tszta: sad Iasaaaace. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Leader on tbe day monthly installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a sum (herein "Funds'? equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground ants on the Property, if any, plus one-twelfth of yearly premium installments far hazard insurance,
<br />plus one-twelfth of yearly premirmr installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />dme to time by Lender on the basis of assessmenu and bills and reasonable estimates thereof.
<br />The Funds shall be head in an institution tEte deposiu or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments,
<br />inaw-sane premittms and grotmd rents. Lender may not charge for so hold±ng and applying the Funds, analyzing said account,
<br />ar verifying attd compiling said asscssntcats and bills, unless lxnder pays Borrower interest on the Funds and applicable law
<br />petmiu Lender to make such a charge. Borrower and Lender may agree in writing at the dine of execution of this
<br />Mortgage that interest on the Funds shalt be paid to Borrower, and unless such agrcetnent is made or applicable law
<br />requiras such interesi to be paid, Leer shall raz be requ:.~1 !o pay Borrower any interest or earnings nn the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing crediu and debiu to the Funds a»d the
<br />gvrpost for which each debit tc the Funds was made. The Fantle are pledged as additional saurity for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender, together with the future monthly instatlmeau of Funds payable prior to
<br />the due dates of taxis, assesstttmts, insurance premiums and ground rents, shall exceed the amount required to pay said taxes.
<br />aasess:aents, insurance premiums and ground renu as they fall due, such excess shall be, at Borrower's option, either
<br />ptompdy repaid to Borrower or credited to Borrower on monthly installmenu of Funds. If the amount of the Funds
<br />heM by Leader shall not be sufficient to pay taxes, assessmenu, insurance premiums and ground renu as they fill 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 Leader to Borrower requesting-payment thereof.
<br />Umn aavment in frill of all stuns secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />hold by Lander. If under paragraph IB hereof the Property is sold or the Propetty is otherwise acquired by Lender, Lender
<br />shall apply, no later than itnarediatel}' prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Leader at tbe tithe of application as a credit against the sums secured by this hfortgage.
<br />3. AppBcatim of I'ajmeaffi. UnL~s applicable law provides otherwise, all paymenu received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by Linder first in payment of amounu payable to Lender by Borrower
<br />tinder paragraph Z tretmf, then to interest payable an the Note, then to the principal of the Note, and then to interest and
<br />principal on any Ftutrre Advances.
<br />A. ~ Iitea Borrower shall pay aB taxes, assesmtenu and other charges, fines and impositions attributable to
<br />the Property which tiny atsaet a priority over this Mortgage, and leasehold paymenu or ground reels, if any, in the manner
<br />pmvidtd under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, whin due, directly to the
<br />pays thaeaf. Botmwer shall promp8y furnish to Lender all trotic~ of amounu due under this paragraph, sad i[r tbe event
<br />Borro+er shall mate payment directly, Horrewcr shall promptly famish to Lender receipts cvideacing such paymenu.
<br />Boarowct shall prompdy discharge any lien which has priority over this Mortgage: provided, that tiortirwer shall not be
<br />regrtired to discharge any suit lien sa long as Borrower shall agrce in writing to the payment of the obligation secured by
<br />strdt rim in a manac acceptable to Lender, or shall in good faith comes[ such lien by, or defend enforcement of such 1~ in,
<br />legal ptotxedings which operate to prevent the enforcarrmt of the lice or forfeiture of the Propem, or any part thereof.
<br />S. ~mrd IawCasoe. Harrower shat! keep the improvemenu now existing or berezfter erected on the Property insured
<br />agaimt ions by Ste. haztuds irxluded within the term "extert~d coverage". and such other hazards as Leader may require
<br />and is such amounts sad far arch periods as Lender may rcquirc: provided, that Leader shall not require that tbe amoum of
<br />mch coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
<br />The itsurance carrier proves the iasuratux shall be chosen by Borrower subject to approval by Leader, provided.
<br />that such approval shag t>m be uareasonabty withbetd. All prrurtitr[as on insurance policies shall be paid in the manner
<br />provided under paragraph 2 heteeif or, il not paid in such manner, by Borrower orating pavac~nt, whin due, directly to the
<br />it>tattanee .
<br />A$ iosraaoce policies sad renevaals thereazf shall be in form a-ceptab+c ro Lenaer and shall i~iu~ a stsndaru martgagt
<br />clatae as favor of sad is foam aotxptable to Lender. Lender shall have the right to hold the policies and renewals tbereof.
<br />sad Borrower shah promptly furnish to Lmdrs all rmcwal notices and ail rt:ctipts of paid premiums. In the event of lass,
<br />Harrower shall give prompt tnticx to the i~uraace carrier and Linder. Linder may make proof of loss if not made promptly
<br />by H°rro'tru-
<br />Unleas Linder and $orrowa ea6crwise agree in writing, insurance procceds shall be applied to restoration or repair of
<br />the Propecty tlaaraged, provided such restoration or repair is economically feasible and the security of this Mortgage is
<br />not [hereby itnpaitcd. If arch restoration ar repair is not c~rottomically feasible or if the security of this Mortgage would
<br />he impmired, the iasrtraatx ptoceaLs shat! be applied w the sums secured b} this Mortgage. with the excess, if any. paid
<br />to iibarosrrr. >f the Property is abandoned b} Borrowu, or it Borrower folk to respond to Lebeer within 30 desys fzam the
<br />a... t>ese h nrrilst3 by Lt3de~ to Borrower that the ;~»~~~ carries atlers to settle a claim for insuratrct benefiu, Leteder
<br />s aatharized to collect sad ap~y the iosuratrcc proceeds at Lender s option eitber to restoration or repair of the Property
<br />or ~ the srntu secural IrJ [h;s Mor~agc.
<br />Uakas Lender and Bo:rewer atbcrwise agree to writing, any such application of proceeds to principal shall not extend
<br />or paatpaae the due date of the tnanthty irtstallnunu referred to in paragraphs I and ?hereof or change the amount of
<br />mrL iasratlrtreats. If under paragraph F8 hereof the Fraperty is acgwrcd by Leader, all tight, tick and interest of Borrower
<br />in ant! tvi aav itsrrraoR-e prilaies sad ire am', to the proceeds ihermf resulting from damage to ibe Property prior to the safe
<br />or arxpasitiffi shall pain to Linder m the extmi of the sums centred by this Mortgage immediately prior w such sale or
<br />L ad 'HaiW~et of lira~tat?; I.earchatde; Cendoasiaiares: t%aaard Unit 1)erdopntats. Harrower
<br />>~ ktaep the Proptrrty itr eaod repair sad shall not commit waste or permit impairment or tlncriaration of the Properly
<br />sad abaB opmpdy with the provtstom c>t nay lease if this Mortgage is an a leasehold. if this Mortgage is on a unit in a
<br />of a plaaae~l ~ Wit, Bkurower shall perform nit of Harrowers obligations under zhe declaration
<br />ttr oovraapts creating or g+>+rcraiag the madomiaittm ar planned unit development, the by-laws and regutatians of the
<br />on~ostsatitrm a[ planned n®t dewrbpatetrt, sad co~iturnt documents. If a condominium or platmed unit development
<br />xrder is rsawtad by PJeaaower atxl recorded together with this Mortgage, the covenanu sad agrcements of such rider
<br />t&el~ be i'a#od i~ a~ amtad sad stzpplomcat the cavenaats asd agreerttents of this Mortgage as if the rider
<br />wave a part hararf.
<br />7. Ta~ierilm of I.~a Saasl4. If Borrower faits zo perform the caveaanu and agreements contairxd is xhu
<br />tlitast;~, ar if nay aetma of proaaditrg is coed whleh materially a$ecu Lender's interest is the Property,
<br />i bid tart lianstad m. eminent drrarain, iasay, tide enforcement, or arrangetneau or proceedings involving a
<br />~ dxa.dmt, then L~der at Leadw's option, upon notice to Borcowcr, may make such appearances, disburse such
<br />~ sad tike >arrdt action as is necessary to praect Lender's interest, including, but not limited to, disbursemrnt of
<br />raaaraa6le atttuaay's faees sad tattry upon tht Pmparty to make repairs. If Leader required mortgage insurance as a
<br />t of mdtiag the Iota sacanod "vf thin Mortgage. Harrower shall pay the premiums required to maintain such
<br />i~ar~a ~ t tffitu curl -~ {F~ ~-~cat ,vr ,.a„ iasarstx~ ..~rr~~natas in °....a :!a°....... with Bar~sw;•r's and
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