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<br />79-- U~31$1
<br />Utvrr=oxrt Covex~xrs. Borrower and Lender covenant and agree as follows:
<br />1. Psymty! of P!+~[ciQa! sad Ivhrest. Borrower shall promptly pay when due €he principal of and interest on the
<br />indebtedness evidenced by [he Note, prepayment and (ate charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. P`oads Eor T>ues atsd lasarance. 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 Nete, 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 rents on the Property, if any, plus one-twelhh of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yeaziy premium ivstaliments for mortgage insurance, if any, al! as reasonably estimated initially and from
<br />time to time by Leauler on the basis of assessments and bills and reasonable estimates th-.seof.
<br />77re Funds shall be held in an institution Ure deposits ar 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 />insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and rnmpiling said assessments and bills, unless Lender pays Borrower interest an the Funds and applicable law
<br />permits Ler[der to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that interrrtt on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requites such interest to be paid, Lander shall not be required to pay Borrower any interest or eaznings on the Funds. Lender
<br />chaff give to Borrower, without charge, an annual accounting of the Funds chewing credits and debits to the Funds and the
<br />~.,.~-pose for which each debit to the Funds was made. 'ILe 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, assessments, inuurance premiums and ground renu, shalt exceed the amoun€ required m pay said taxes,
<br />assessments, insurance premiums and ground rents ns they fall due, such excess shall be, at Borrower's option, either
<br />prtaaptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall not be sufficient 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 Leader to grower requesting' payment thereof.
<br />Upon payment in fun of sit sums secured by this Mortgage. Lender shall F,rompt;y refund to llarrawer arty Funds
<br />hdd by Lender If under paragraph 18 hereof the Properly is sold or the Properly' is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Properly or its acquisition by Lender, any Funds held by
<br />Lender at the time of application as a credit against the sums secured by this Mortgage.
<br />3. AprHcation of P.ymettrls. Unless applicable law provides otherwise, a!i 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 />urxler paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />A. Chingos; Ijeats. $orrower shall pay all taxes. assessments and other charges, fines and impositions attributable to
<br />the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any, iv the manner
<br />provided under paragraph 2 hereof er, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borrower shall promptty furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Mortgage; provided, that Borcower shalt not be
<br />regt»rcd to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien iv a manner acceprahle to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien iq
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any pan thereof.
<br />5. Hassid Irrmance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />agaiattlass bg file, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br />a~ iv such arnottnts and #or such periods as Lender may require; provided, that Lender shall not require that the amount of
<br />stub coverage exxtxl that amount of coverage required to pay the sums secured by this Mortgage.
<br />The imuraacc carrier providing the insurance shall 6e chosen by Borrower subject to approval by Lender, provided,
<br />that such approval shag not 6e unreasonably withheld. All premiums on insurance policies shalt be paid in the mower
<br />provided wader paragraph 2 hereof or, if not paid in such mower, by Harrower making payment, when disc, directly to the
<br />tnstrraatx rsrrisa,
<br />A31 irrsuranct policies and renewals ilxreof obeli be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in farm acceptable to fender. Lender shall have the right to hold tine policies and renewals thereof,
<br />sad Harrower shalt promptly furnish to Lender all renews! notices and all receipts of paid premiums. In the event of loss,
<br />Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrows otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
<br />not Thereby impaired. If such restoration or repair is not economically 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 Borrower. B the Property' is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
<br />date notice is mailed by Lender to Borrows brat the insurance carrier oftcrs to settle z claim for insurance benefits, Lender
<br />is authotizsd xo tniku and apply the insurance proceeds at Lender's option either ro restoration ar repair of the Propcn}'
<br />or to the stems seeared by this Mortgage.
<br />Uaiess Lender sad Borrower otherwise agree in writing, any such appliration of proceeds to principal shalt not extend
<br />of postpone the d[re date of the trromhly installments referred to in paragraphs t and 2 hereof ar change the amount of
<br />such iastallnreats. if uru}er p~¢ragra~ l8 lrerea# the Property a acquired by Lender, all right, tide and interest of Borrower
<br />in sad to any iasttrance pdecies and in a~ to the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acquisition shall pass to Leader to the extent of the sums secured by this Mlortgage immediately prior to such sale or
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<br />G Tsaervatior. red Mai~aaeee of Property; feasehoida; Covdomiaiums; Plagued Unit Devebpmeats. Borrower
<br />ahaiI keep lire Properly in good repair ate' shall not commit waste or permit impairrts=nt or deterioration of the Properly
<br />and shall comply with the provisiws of any lease if this Mortgage is an a leasehold. if this Mortgage is on a unit in a
<br />inium or a planned unit development, Borrower shall perform aU of Borrowei s obligations under the declaration
<br />or ooser[avts creating or governing the condominium or planned unit development, the by-laws and regulations of the
<br />castdoraini[[m m plaaved trait development, and coasti[uent doctunents. If a condominium or planned unit development
<br />rider is ettecutod by Borrower and rernrd~ together with this Mortgage, the covenants and agreements of such rider
<br />shall lx iced into sad shag amend and suppkanevt the. cevtnants and agreements of this Mortgage as if the rider
<br />wisre a part haeof.
<br />7. Psadeeftse of I.eaier`s $teaeHy. If Borrower faits to perform tin covenants and agreements contained in this
<br />?4astgage, m if tray order or proceeding is commenced which materially affects Lender's interest in the Prapeny,
<br />iaclndiag, but not titnited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings .involving a
<br />1>mttrspt of deeeddtt, th+m Leader at ?`,ender a option, upon notice to Borrower, may make such appearances, disburse such
<br />srsus sad take srtch action as is necessary m protect Lenders interest, including, but not limited to, disbursement of
<br />rpmottabk anotney's fees sad entry upon the Property to make repairs. If Lender required mortgage insurance as a
<br />condition of ataltiaa the, loan secured by this Mortgage, Borrower shall pay the premiums required to maintain such
<br />i is effect tvttB such lane as the requirement for such insurance rcrminates in accordance with Ha;r~:rer's and
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