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<br />79-- UU30~0
<br />UxmoxrK Covat+xxrs. Borrower and Lender covenant and agree as follows:
<br />I, Payment of Priaelpsl and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />iat~btednesc evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. FaaBa for Tales 1~ Ir~ruance. Subject to applitable law or Yo a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a stun (herein "Funds") 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 />p}us one-twelfth of yearly premium installments for mortgage insurance, if any, ail as reasonably estimated initially and from
<br />time to rime by Leader on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be herd is an institution the deposits or accounts of which are insured or guaranteed by a Federat ar
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bins, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lcoder io make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that interest on the Ftmds shelf be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest fo be paid, Lender shall not be required to pay Burrower any interest or earnings on she Ftmds. Lender
<br />shall give to Borrower, without charge, an annual accourfing of the Funds showing credits and debits to the Funds and the
<br />ptrtpose far which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />by this Mortgage.
<br />If the atrtouat of the Fins held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assesmrents, insurance premiums and ground rents as they fafl due, such excess shall be, at Borrowers option, either
<br />promptly repaid tc Borrower ar credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Cruder shall not be suf@c~ut 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 Larder m Borrower ngtxsting payment thereof.
<br />Upon payment is full of all sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />Geld by Lender. If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shag apply, no later than immediate)}• prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Let+der at the time of appliateon as a credit against the sums secured by this Morgage.
<br />3. Apl d P~v>sae>st:. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs t a~ 2 trersrof shall be applied 1`y Lender first in payment of amounts payable to Lender by Borrower
<br />trader paragraph Z hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />pria~pal on nay Fw*tm Advances.
<br />A. ~ I3e= Bonvwrer shall pay all taxes, assessments and other charges, fitter and impositions attributable to
<br />rtx Property wFtich may attain a priority over this Mortgage, and leasehold paymenu ar gtvund rents, if any, in the manner
<br />provided trader parspaph 2 hl:teof or. if na paid in such manner, by Borrower making payment, whetr due, directly to the
<br />payer thereof. Borro+vrr shall pr~tptty furnish to Lender all notices of amounts due tender this paragraph, and in the event
<br />Borrower shag make payment direct!}•, $orrower shall promptly famish to Lender receipts evidencing such payments.
<br />Borrwver stroll promptly dischar~ any lip which has priority aver this Mortgage; provided, that Borrower shall rwt be
<br />etgtured to discharge nay strclt lien so long as Harrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a meaner acxptatile to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien itt,
<br />leEal proceedings which operate to prevent the enfortxment of the lien or forfeiture of the Property or any part thereof.
<br />5. Haari i>wrrancr. Bortowtr shall keep the improvements now existing ar hereafter erected on the Property insured
<br />agaiuut loss by firs. hazards iacltrded within the term "extended coverage", and such other hazards as Lclydtr may require
<br />sad in ztrch :au+aats and for such periods as Leader may require; provided, that Lender shall trot require that the amount of
<br />suctr coverage e:cxd that amount of coverage required to pay the sums secured by this Mortgage.
<br />'Ilse inwraace carrier providing the iasrrrance stroll be chosen by Borrower subject to approval by Lender, provided,
<br />that sttett approval shall not be unreasoaabty withheld. Ail premiums out insurartct policies snail be paid in the manner
<br />provided tender paragraph 2 heree$ or, if ~ paid is such manner, by Borrower making payment, whin due, dtnecUy to the
<br />i nrrier.
<br />All pollees sad ;G're'.vals thereof shall be 'art form acceptable. to Le~^r sad anal! ies!c~ a sr'w~+dard mortgage
<br />claszae irr favor of and in form acceptable to Linder. ixo~r shalt have the right to hold the policies and renewals thereof,
<br />sad Hastnwcr shall promptly furnish to Lender ail ttnewal oatixs and atI receipu of paid premiams. In the event of lost,
<br />Horrosres shall give prompt notice to the insurance carrier and Ltatder. Lender may ma':e proof of k~s if nos made promptly
<br />by Borrower.
<br />USA L~der and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration ar repair of
<br />sire Pnc~atp damaged, provided such restoration or repair is ernnomically feasible attd the s~uriq• of this Mortgage is
<br />trot thereby impaired. If larch restoration or repair is net ecoaomicall_r' feasible or if the suurisy of this Mortgage would
<br />be impaired, the insurance prooeals shall bt applied to the sums secured by this Mortgage, with the txaess, if an}•. paid
<br />ro Bsrrstn+°er. ii the Property is abandoned by Borrower, or if Harrower fails to respond to Lender within 30 days from the
<br />dart notice is raaikd by Leader to Borrower that the insurance carrier of#ers to Berle a claim for insurance benefits, Lender
<br />is atdltorixed t0 talkct and app)) ttg ittsuraatt proxeds at Ltitder 4 aplltxt tither SO Te5[aranan ar repair of the Property
<br />or ~ the tamss secured by this !+IOttgage.
<br />Ualas Lerdta and Borrower otherwise open in writing, any such application of protxxds to principal shall not extend
<br />or potrtpeoe Nee due dart of the monthly installments rtferrtd to in paragraphs 1 and ? hereof or change the amount of
<br />strl3t insWlmeats. If under paragraph 1 B hereof the Property is acquired by Letrder, all right, title and interest of Borrower
<br />irr and to any irwatsace paltrier and is sad to the procuds thereof resulting from damage to the Property prior to the sale
<br />or aogaisitioa shall pass m Lead to the extent of the suers sxured by this Mortgage immaliately prior to such sale or
<br />~•
<br />f, lsttsertatloe ai Mite of Property; I~aaeholds; Colsdomisiams: Planed Unit Der'elapments. Harrower
<br />sfmy keep the: Property is good repair and shag not commit wasu or permit impairment at dettrio*arion of the Prapeny
<br />and ttball comply with the provisioaa of say lease if this Mortgage is on a leasehold. li this Mongage is on a unit in a
<br />canslomini;rm or a pleased troll devcioprneat, Borrower snail perform al! of Borrotvei s obligations under the declaration
<br />ar cleating or gotrcrning the cotdominium or pFanrttd unit development, the by-taws attd regulations of the
<br />cr~atidwa of piamed unit drat, and constituent documents. If a condominium or planned unit development
<br />rider is rsactrted hY ]Barrotves a~ recorded eogettter with this Mortgage. the covenants sad agreements of such rider
<br />ahaltlse inrmpotsted i~ amt shall atewd and suplilemtnr the covtno°ts and agreements of this Mortgage as if the rider
<br />stare s part .
<br />7, tl4tolselissr st lF.ada°s fiaeerltl. If Botmwtr fails to perform the covrnaats and agreements contained in this
<br />ar if any ate ar proaeediog is meruaeactd which materially affects Lender's interest in the Prapetty,
<br />iac~sg, but not limited ta, emiaeat domaist, insolvency, cow rnfortxment, or arrangements or proceedings involving a
<br />har~tstpt ar dazdiatt, then Leodea at Leader's option, upon Mice to Borrower, may make such appearances, disburse slrch
<br />tttmo6 amd talks etch staon as ~ rretzstar}• f4 protcet Lender's interest. including, but trot limited to, disbursement of
<br />!'tiltEfHible ataotaey's fete std entry upon the Property to make repairs. If Lender required mortgage insurance as a
<br />condition of making tut Ian sectced by this Mortgage, Borrower shall pay the premiums required to maintain such
<br />innz;aea is e_~ti time as the rtquir4ment for such insurance terminates in accordance wlth Borrsiwer's and
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