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7s.~. ~ ~ 3152
<br />Uxrpottat CovsxAxrs. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Ptfnclpal and Interest. 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 Not+=, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />Z, bands for Tazea ttad 3nsarancr. 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 imerat are payable under the Note, until the Note is paid in full,
<br />a sttm (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 Properly, if any. plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus Otte-twelfth of yearly premium installments for mortgage insurance, if any, ail 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 laid in an institution the deposiu or accounts of which are insured or guaranteed by a Federal or
<br />state agency tinclttding Lender if L.estder 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 bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. 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 uNess such agreement is made or applicable law
<br />regrsres such interest 20 be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without chazge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />' ptttpose 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 />II the amount of tbe Funds 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 />asseatutents, insurance premiums and ground rents as they fall due, such excess shalt be, at Borrower's option, either
<br />prmtpdy repaid to Borrower of credited to Borrower on monthly installments of Funds. If the amount of the Funw
<br />held by Lender shall rat be sufficient to pay taxes, asxssments, insurance premiums and ground rents as they fall due,
<br />Borrower shall pay to Leer any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Leader to Somower requesting payrnem thereat.
<br />Upon paytttent in full of sit sums secured by this Mortgage. Lender shall promptly refund to Borrower any Funds
<br />6eM by Lender. !f under paragraph I8 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />saau apply, ttn iaicr tnari imme~iateiy prior to ire sate of the Properly ar its acquisition by fender, any Fuao's iteid by
<br />Leader at the time of application as a credit against the sums secured by this Mortgage.
<br />3. Appticadon M Pttytoeats. Unless applicable taw provides otherwise, all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hcteof, then io interest payable on the Note, thcn to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. ~ Lletg. Borrower shall pay all taxes, assessmrnu and other charges, fines and impositions attributable to
<br />the Property which may attain a priority over this Mortgage, and leasehold payments or ground torts, if any, in the manner
<br />pmvid~ tinder paragraph 2 hereof ar, if not paid in such manner, by Borrower making payment, when due, directly [o the
<br />payee theseaf. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Harrower shall treks payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Ba~trotcer shall p.~nptly discharge any flea whi 5 has p:iarr~ aver this Martb~; provided, the; Bereaves: she!] trot be
<br />tegeti[ed to discharge any such lien so )nag as Borrower shall agree in writing to the payment of the abligation secured by
<br />such list in a manner acceptable to Leader, or shall in good faith contest such lien by, or defend enforcement of such lien in,
<br />legal procadings which operate to prevent the enforcemrnt of the lien or forfeiture of the Property or any part thereof.
<br />3. Httaud (tt~ce. Borrower shall keep the improvements new existing or hereafter erected on the Property insured
<br />agaiau loss by fire, hazards included within the term °extended coverage", and such other hazards as Lender may require
<br />and in taxh amounts and for wch periods as Lender may require; provided, that Lender shall no[ require that the amount of
<br />such coverage exceed that amount of cov"age required to pay the sums secured by this Mortgage.
<br />The i,~strrartce carrier providing the inwrance shall be chosen by Borrower subject to approval by Lender, provided,
<br />that approval shag not be unreasonably withheld. All premiums on insurance policies shall be paid ir, the manner
<br />pavvided tinder pazagtsplt 2 hereof or, if cwt paid in such manner, by Borrower making payment, when due, directly to the
<br />+nv.raru,e caais-
<br />AB insurance policies and ttnewak thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />datrse is favor of and in form acecptabk to Itudt:r. Lender shall have t,~x right [v hold the policies and rcrtewals thereof,
<br />seal Borzawez sludl promptly ftsrniah to Leader ail renewal notices and all receipts of paid premiums. In the event of loss,
<br />Borru+ra shall give prompt notice to the ittsurantt carrier and Lender. Leader may make proof of loss if not made promptly
<br />by Borrower.
<br />Uakas ?.saris sad Harrower otherwisc agrce in writing, insurance proceeds shall be applied to restoration or repair of
<br />the Penpetty dataaged, provided such restoration or repair is economically feasible and the security of this Maztgage is
<br />not thtateby impaired. If vetch restoration or repair is not econotnicatly feasible or if the security of this Mortgage would
<br />be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid
<br />to Baaotver. Tf the Property is abandoned by Borrower, or if Borrower faits to rapond [o Lender within 30 days from the
<br />date notice is mailed by irnder to Borrower that the insurance carrier oNers to settle a claim for insurance benefits, Lender
<br />is aathorivd m rnlkct and apply the insurance prooxds at Lender's option either to restoration or repast of the Property
<br />or m the sums sxured by this Martgage.
<br />Unksaa Leader attd Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or potttpone the due dare of the monthly irtatailments referred to in paragraphs I and 2 hereof or change the amount of
<br />such inctatrrraLtc. 1# under paragraph l$ 6errnf the Property is acquired by Lender, all right, title and interest of Borrower
<br />itt and to any itrsttr~ance policies and in and to the proceeds thereof resulting from damage to the Property prier to [he sale
<br />at act)ttisitioa shall pass to Leader to the extent of the stuns secured by this Aortgage immediately prior to such sale or
<br />6 Ptraesvtt~ atsd Mai~aaaa M Pmpertp; Lease3alti~ Coadomittia~l Planned Unit Ihveloprnents. Borrower
<br />shy kxp the Prop-sty is good repair and shag not camtnit waste or permit impairment or deterioration of rho Property
<br />ate tdwti ottmply with the provsiaas of say lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a
<br />or a planaetl trait develast, Borrower :salt perform aJi of Borrower's abligations wader the declaration
<br />or mveagnts creating ~ governing the condominium or planned unit development, the by-laws and regulatians of the
<br />cinittm or planned unit devebpmertt, and cotutittseat documents. If a condoatinfum or planned snit development
<br />rider is etrocuted by Borrows and recorded together with this Mortgage, the covenants and agrcemrnts of such rider
<br />shall be inompontted lino and shag amend a>zd suppkmem the covenants and agreements of this Mortgage as if the rider
<br />ware a paR ~acte,
<br />7, ltA eF iE~tssiatis Such, If Borrower fails to perform the covenants and agreetnenta contained in this
<br />Mortgage, ate if aey action or pmaodiog is commenced which materially affects Lmder's interest in the Property,
<br />i~~'its;, hW not liatited to, eminent domain, insolvency, code enforcement, or azrangtments or proceedings involving a
<br />butYntpt or decedent, thtxi Lent~a _3 Lender's option, upon notice to Borrower, may make such appearances, disburse such
<br />areas and take uteri action as is ttceessary to protect Lender's interest, including, but not 1'united to, disbursement of
<br />rpuwabk attorney's fees and entry upon the Property to make repairs. If Lender required mortgage insurance as a
<br />conditittat of tttakeg the ban txettred by this Mortgage, Borrower shall pay the premiums required to maintain such
<br />itmattax in eHoet tmiil such time as the regairernent lot such insurance terminates in accordance with Borrower's and
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