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79-- ~i1303F~
<br />Uxtt~oxnt Covsxnxrs. Borrower and Lender covenant and agree as follows:
<br />1. Payment of PRae~eal and Interest. Borrower shalt promptly pay when due the principal of and interest an the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on any Future Advances sectued by this Mortgage.
<br />2. Femds for Tales artd Insurance. Subject to applicable law or to a written waiver by Lender, Bottower shall pay
<br />to t sndsr on the day monthly installments of principal and interest are payable under the Note, until 4he Note is paid in full,
<br />a sum (herein "Funds'? equal to one-twelfth of the yearly taxes and assessmenu 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 />plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />-I72e Funds shat! be held in an institution the deposits or accounu of which are insured or guaranteed by a Fedora! or
<br />state agency tinduding Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessmenu,
<br />insurance prcrniums and ground renu. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable Saw
<br />permiu Linder to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage Lhat interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<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 debiu to the Funds and the
<br />purpose for which each debit to the Funds was made. "Ihe Funds are pledged as additional security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessmenu, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />asseasmenu, insurance premiums and ground renu as they fall due, such excess shall be, at Borrowers option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />Geld by Lender shall net be strfficitrt to pay taxes, assessmenu, insurance premiums and ground renu as they fall due,
<br />Borrower shalt 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 pa}mrent thereof.
<br />Upon payment iu full of aB sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />held by Leader. If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply. too later than imntediateip prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Lewder at the tittle of application as a credit against the sums secured by this Mortgage.
<br />3. Applltatloa elf Paytaeata. Unless applicable law provides otherwise, all paymenu received by Lender ender the
<br />Note and paragraphs 1 amt 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 then to interest and
<br />p.~ncipal oo any Futttrc Advances.
<br />4. Chaa;e~ 1[3eas. Botrow•er shall pay all taxes, assessments and other charges, fines and impositions attributable to
<br />the Property which tray attain a priority over this Mortgage, and leasehold paymenu or grcuad 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, dirtxtly to the
<br />payee thereof. Borrower shall pt+~ptty furnish [o Lender all notices of amounu due under this paragraph, and in the event
<br />Borrower shall make pad ~. at directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Boerawxi shall promptly ~ is~,~ge any lien which has priority over this Mortgage: provided, that Borrower shall not be
<br />rtxltrired to discharge any u.:h l~cn so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />[arch lien in a maarter atxtpta:•to to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in,
<br />legal proceedings which operate ~o prevent the enforcement of the lien or forfeiture of the Property or any pan thercot.
<br />S. llttttarA Inat~. Borrowc_ hail keep the improvements now existing or hereafter crtued an the Property insured
<br />against. less by 8re, hazards included with.. the term "extended coverage". and such other hazards as Lender may require
<br />and is sttclt annuals and for such periods as ._:.-'- .:.:1 quire; provided, that Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage required to E av the sums sexurcd 6y this Mortgage.
<br />The ittsttranct carrier providing the insurance shall be cr,~sen o, Borrower subject to appravat by Lender, provided,
<br />that larch approval shall not be unreasonably withheld. All premiums on 'asurance poll-ies shall hr paid in the manner
<br />pravidtad trader paragraph 2 herwf or, if not paid in such manner, 6y Borrower tttaving payment, when d'u. dioxtly to [hc
<br />iostuance carrier.
<br />.1H insun~e policies and renewals thereof shall be in form acceptable to Lender and snot' ~nctudr .+ stano..rd mortgage
<br />elatae in favor of and in form acceptable to Lender. Lender shall have the right [e hold the palrctcs vr,i rerte•:als thereof.
<br />and Borrower shat? promptly furttiah to Lender all renewal notices and all receipts of paid premiums. rn .:c event of lass,
<br />Borrower shaft give prompt notice to the insurance carrier and Lender. Lender may make prtn~t of lass if ~ of made pm'-r'tti
<br />by Boaoxrr.
<br />Unfas Lender and Horrowex otherwise agr+a in writing, insurance proceeds shall be applitxi to restoration or repair of
<br />tlse Propezty damaged, provided such restoration or repair is economically feasible and the sexurity of this Mortgage is
<br />nbt thae6y impaired. it such restoration or repair is not economically feasihlt or if the security of this Mongagt would
<br />bt impaired, the itrsuraace proceeds shall tx applied to the sums srcurcd by this Mortgage. with the excess, if any, paid
<br />to 8dxrnrsrer. It the Propert}' is abandoned by Borrower, ar if Harrower fails to respond to Lender within 30 days from the
<br />date notice is rtrailed by Lender to Borrower the[ the ittwrance carrier offers to settle a claim #or insurance ttenefits, Lender
<br />is at#Ihoriud w collect and apply the insuratict prc>cttds at Lender's option tither to restoration or repair of the Psapeny
<br />or to the sums secured by this Mortgage.
<br />Unless Lttxkr and Borrower otherwise agrex in writing, any such application of proceeds to princtpat shall na[ extend
<br />of pith the due deu of tbe monthly installirenu rcferud to in paragraphs 1 and ~ hereof or change the amauat of
<br />wch iastal?meau. If under paragraph 18 hersvf the Froperry is acgt::red by Lender, all right, aria and interest of Borrower
<br />in atxl to eery insurance policies aid in attd to the procceds therenf resulting from damage *.o the Property prior to the salt
<br />ai acgeRSition shall pass to Leader to the extent of the sums secured by this !.lortgage immediately prior to such sale or
<br />& Preaers~n aed i4f~tenaace of Property; Ixaseholds; Condirmistiamst Planned Unit Deselopnte:nls. Bottawcr
<br />~ leap the Property in good repair and .hall not coatatit waste or permit impairment or deterioration of the Property
<br />and shall Comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a
<br />txmdn®initrtrt or a planned unit development, Sosrpwer shat perform all of Borrowei s obligations under the declaration
<br />at tbvenan~ crtatmg or garexning the condominium or planned unit development, the by-laws and regulations of the
<br />eandominium or planned unit ~vdoptixnt, and conaitutnt documents. If a condominium or planned unit development
<br />rrdta is enteettted by Sormwer and rewrdad together with this Mortgage, the covenants and agreemrnts of such rider
<br />s)stdl be ix+cosporated itgo and ahail atom! aid suppittant the covenanu and agreemrnu of this Mortgage as if the rider
<br />wma a part htxa~.
<br />7. ;Pralaedeta atf fits9iet°a Y. If Borrower fails to perform the covmaru and agreements contained in this
<br />Motes, ~ if arq+ arxian or groceediag is commet>xd which materially atfxts Lenders interest :- the Progeny,
<br />ring, bra mx limited ta, eminent domain, ittaolvency, code enforcement, or arrangements or proceedings :evolving a
<br />hanltntpt or decadent, then Camden d Leatrkr's option, upon ttofice to Borrtrwer, may make such appearances, disbu. ^. such
<br />tttiens and take such action as is Y w protect Loader's interest, including, but not limited to, disbursemeo. of
<br />reasotaabk attorney's foes and enttp upon the Property to make repairs. If Lender required mortgage insurance as a
<br />condition of mating the ban secured by this Mortgage, Borrower shall pay the premiums required to maintain such
<br />iar~tantx in eHext lentil atxh time as the requirement for such insurance terminates ir, accordance with Borrowers and
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