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79... VU~Q~d
<br />L'xmoxar Covt:xnxrs. Borrower and Lender covenant and agree as follows:
<br />1. Faymeot of Ptdwelpal and IMetxst. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />oa any Future Advances secured by this Mortgage.
<br />2. 1Fends for Taws and Insaranee. Subject to applicable law or to 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 sum (herein "Funds") equal to ono-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-twelfh of yeazly premium installments for hazard insurance,
<br />plus orte-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 />The Funds shall be held in as institution the deposits or accounts of which are insured or guaranteed by a Federal oz
<br />slate agency (inclt[ding Lettder # Lender is such an institutioat. Lander shall apply the Funds to pay said taxes, assessmenu,
<br />insurance premiums and ground renu. Lender may rot charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and wmgiling said assessmenu and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Leader to make such a chazge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall be paid to Borrower, and unless stuh agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not la requited to pay Borrower any interest or earnings on the Funds. Lender
<br />shat! give to Borrower, without chazge, an annual accounting of the Funds showing cred,ts and debits to the Funds and the
<br />purpose for 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 amount of the Fonda held by Lender, together with the future monthly installments of Funds payable prior to
<br />the drre dates of taxes, assessments, insurance premiums and ground renu, shall exceed the amount required to pay said taxes,
<br />9w~ttrnu, insurance premiut»v and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrawtr or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by !.ender shall rant be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower shall pav 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 />Upon payment in foil of aB sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />bold by Leatkr. If under paragraph 78 iureof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shalt agpiy, rto later titan itnrrtcdia[ciy prior fa rite sale of the irapc'n`y ar i acyt;~ - ~ :, by Ltnd~., any Fu N ;.~;.: by
<br />L.wder at the time of appliratiaa as a credit against the sums secured by this~Mortgageu
<br />3. Applicstloa of Paymtats. Unless applicable law provides otherwise, all payments re~roived by Lender under the
<br />Note attd paragraphs t and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under pat:gtaph 2 1>ar+eof, then to interest payable on the Nore, then to the principal of the Note, and then to interest and
<br />principal an any Future Advances
<br />4. CSuges; Z3eee Borrower shall pay alt taxes assessments and other charges, fitter and impositions attributable to
<br />the Property why tnay attain a priority over this Mortgage, and leasehold pa}menu ar ground renu, if any, is the tnantter
<br />prCeided under paragraph 2 bereof or, if not paid in such mam~er, by Borrower making payment, when due, directly to the
<br />payee thertxf. Borrower shall promptly ftamish to Lender all notices of amounu due under this pazagiaph, and is the event
<br />Burrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such paymenu.
<br />Boarawer shall promptly discharge any lien which has priority aver this Mortgage; provided, that Borrower shall not be
<br />regtrErrd 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 maa>rr atxeptabk to Lender, nr shall in good faith contest such lien by, or defend enforcement of such lien in,
<br />legal proccediregs which operate to prevent the enforcement of the lien or forfeiture of the Progeny or any part thereof.
<br />i. Hoard Irai>auatter. Borrower shal3 keep the improvements now existing or hereafter erected on the Property insured
<br />against ~ by fire, 6arards included within the term "extended rnvuage'", and such otlter hazards as Lender may require
<br />a~ is sod[ amounts and for such periods >u Lender may require; provided, that Lender shall not require that the amount of
<br />stteh rnverage es-xui that amount of rnveragr required to pay the sums secured by this Mongage.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided,
<br />that such approval shall trot be tntrettsooably withheld. Ail premiums an insurance p~~iicies shall be paid in 4be manner
<br />provided tinder paragraph 2 hereto ar, if trot paid in such raancer, by Harrower making payment, whit due, directly to the
<br />iawranm coition.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mongage
<br />clattae ire favor of sad in form acceptable m Lender. Leader shall have the right [o hold the polities and renewals thereof.
<br />ate $ttrrower shall promptly furnish to Loader all renewal natixs and all rt;.tipts of paid premiums. In the evens of loss,
<br />$atmwar shalt glut ptvmpt notice to t; c i>uuranct cerrier and Lender. Lender may make prixtf of loss if noI made promptly
<br />by Botrowei_
<br />Uakse Lendv a~ Harrower otherwise agree in writing, insurance proceeds shall be applied io restoration or repair of
<br />the Property damagext, ptoridtd such n:storatiaa or repair is ecanamitaliy ftasibk and the security of this Mortgage is
<br />oat thereby impaired. If such restoration or repair is not economically feasible or tf the securih• of this Mortgage would
<br />be impaired, the insurance proceeds shall be appliexl to the sterns secured by [his Mortgage, with the excess, if any, paid
<br />m Botrowu. If the Properly is abandonai b}' Borrower, ar it Borrower fails to respond to Lender within 30 days from the
<br />date twtiee is mailed by Letxdcr to Borrower that rho Insurance carrier odors to settle a claim for insurance benefits, Lender
<br />is authorizW to collect and apps>' the insurance pracxds at Lender's option either to restoration oz repair of the Propem•
<br />w Yn tits suns stt:ured 'by this M rtgagn
<br />Uitkss Lender and Borrower otherwise agrce m wetting. any such application of proceeds to principal shall no[ extend
<br />x ptntpuae the due dart of the tnonthly installments referred to in gnragraphs 1 attd 3 hereof or change [he amount of
<br />stuff installments. !f tirades paragraph 18 Itcreof the Property ~ acquired by Lender, al! right, title and inttrest of Borrower
<br />is and to any insurance pd::.ia attd in sad to the pzocettds thoreaf ratilting from damage to the Property prior to the sale
<br />ar aequisitlaa shat! pass to Lendu m tFte extent of the stems sa-ure~l by this htangage immediately prior to such sale or
<br />atxpsis;5pa.
<br />6 lhnervtrtbn sad Mai~atrete of Propene Cam: Coados$iaiatatry Planatd Umt Dtvebpmeets. Harroutr
<br />trhaB koep the Property ~ goad repair and shall not camt[tit waste or permit impairment ar deteriaratian of tl;e Property
<br />sad shall comply will[ the pmv%sioas of any lease if this Mortgage is on a leasehold. if this Mongage is on a unit in a
<br />canduminittm or a planned [mil development, l3arravvcr shall perform aft of Burrower s abtigatians under the declaration
<br />or cave~aata creating ar governing the condominium or planned unit development, the by-laws and regulations of the
<br />t~ndominium or plutsed attit devdoptttertt< and t:onstitueat doctunents. If a candomiaittm or planned unit development
<br />rider k trod by 1'tlntmwer amI retorded together with this Mortgago, the covenants and agreements of such rider
<br />tthtll ha inearpaaaod iatttt atul shaII amend and suppkmuts the covenants and agrtementa of this Mortgage as if the rider
<br />were a pact hereof.
<br />7. Psabpelks ~ I,rnde~s If Borrower tails Io perform the covenants sad agreements contained in this
<br />)lfttattage, car if nay ataitta or protxtding 1$ commenced which materially slicers Lender's interest in the P+apeny,
<br />iaselt>aBri$, but oat limited to, ttmittera train. ittsolvettcy, code enftxcemeat or arrangemenu or proceedings involving a
<br />bankrupt aq detxdettt. then Larder u Lr^°der's nptian, upon notice to Borrower, may make such appearances, disburse such
<br />and take etch action u is netcessary to protc:.t Lenders interest, Including, but not limited to, disbursement of
<br />traattaahk attttrstey's ftxa and entry upon the Property to make repairs. l( Lender required mortgage insurance as a
<br />^~"~ ^f .~.~ s t}e- ' - ;~~01 try ti;Eis MariPage, Borrower sitaii pay ttte premiums required to maintain such
<br />imtaanee at t$tM troll! latch time ter tlx requirement for such insurance terminates in accordance with Borrowers and
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