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UxtFOaM Covaxnx'rs. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and laterest. 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 principat of and interest
<br />on any Future Advances secured by this Mortgage.
<br />Z. Parole for Tases and I~~s*•a~•e. Subject Eo 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 one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground tents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premitrm installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time [o time by Leader on the basis of assessments and bills and reasonable estimates thereof.
<br />Tht Funds shaI! be held in an institution the deposits or accounts of which are insured or guaranteed b}' 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 tompiling 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 />~fortgage that intera[ on the Funds shall be paid to Borrower, and unless such agreement is made or applicable taw
<br />oleos stash interest to be paid, Lender shall not be requirtKi to pay Borrower any interest or earnings on the Funds. Lender
<br />Q' for which each debit [o the Funds was made. The Funds are pledged as additional security for the sums secured
<br />~Tyby tphis Mortgage.
<br />~ If the amount of the Funds herd by Lender, together wish the future monthly installments of Funds payable prior to
<br />the sloe dales of taxes, assessments, intttrance premiums and ground rents, shall exceed the atttount required to pay said taxes,
<br />f assessments, insurance premiums and ground rents as they fall due. such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower of credited to Borrower on monthly installmenu of Funds. IE 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 io Lender any amount necessary to make up the detkienc}' within 30 days from the date notice is mailed
<br />by Leader to Borrower requesting payment thereof.
<br />Upon payment in full of all sutra secured b}' this Mortgage, Linder shall promptl}' refund to Borrower any Funds
<br />held by Lender. If under paragraph IS hereof the Prapeny is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior m rite sale of the Properly or its acquisition by Lender, any Funds held by
<br />Lender at the tithe of application as a credit against the surzt+ secured by this Mortgage.
<br />3. A.p~ieation of Paymearts Unless applicable law provides otherwise, all payments received by Lendrr under the
<br />Note etas paragraphs 3 and 2 hereof shall be applied by Lrnd.r fire in payment of amounts payable to Lender by Bonawer
<br />uttder paragraph 2 hereof, then to interest payable on *_he tiore, then to the principal of the Nate. and then to interest and
<br />principal an any Future Advances.
<br />d- I.ieat- Borrower shall pay alt taxes. a;sessmtntt and ether charges, tines and impositions attributable to
<br />tht Property which may attain a priority over this .lfotZgage. and leasehold paymenu or ground rents, if any, in the manntr
<br />ptuvided under paragraph 2 hereof or, if hat paid in such manner, by Barrower making payment, when due, directly to the
<br />pa}xt thereof. Borrower shall promptly furnish to Lender all notices of amount; due under this paragraph, and in the event
<br />Borrower shall make pa}ment directly. Barrower shall ptamptly iurnuh w Lender receipts evidencing such payments.
<br />Barrows shall promptly dix.hargt any heo which has pr:orin• over this 'Mortgage; provided. that Burrower shall not be
<br />requited to discharge any such teen x~ long as Borrower shall agree in w ritsng to the payment of the obligati.+n secured by
<br />stash lien io a manner tseeeptabie to Lender, or shat! in good faith sourest such lien b}, or defend enforcement ,.+i such lien in,
<br />Legal proceedings which operate to prevent the enforcement of the lien ar ferfesture of the Property or any pan thereof.
<br />3, Aatried la>mratre. Borrower shall keep the improvements now rxisttag or hereafter erecaed on the Properly insured
<br />agaiau lass by fire, beards itscitidtd within tht term "extended coverage". and su.h other hazards ac Lender may ttqutrt
<br />ales is stash amounts and for stack periods as Lender may require; provided, that Lender shalt no: require that the amount of
<br />stash coverage ezece3 k'tmt saseurt of ccvtrage requured in pay the sums secured M this Mangage.
<br />'llae tasursace ,:eerier providing the inwrance shall fit chosen by Borrower subject to approval :+ti Ltrdrr, provided,
<br />[feu such approval shall hat be uttreasonably withheld- All premiums on insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof er, si tio[ paid ir, such r»anncr, b}' Borrower making payttaent, w}sen due, directly to the
<br />.~ ureter.
<br />~ Ala uastrzitricz pai;eses and rmea ass therit f shalt br in fat~i acccpia$ic to Linder and shall include a standaa., -ongay~.
<br />tdawe in faxror of and is foam acaeptabk to Lender. Lender shall have the right to hold the policies and renewals [hereof.
<br />and Barrower shall promptl}' fut'nish to Leads all renewal neuter and ail ra°eipts of paid premiums. In the evem of loss,
<br />Borrower s,hsli glue prompt notice to the insurance carrier alai Lender. Lendrr max make proof at loss if not made promptly
<br />by Borrowr..r.
<br />Un3rs: Lends' and Barrower atherwrse tsgree in writsag, insurance prtrrrds shelf fie applied to restoration ar repair of
<br />[be Property damaged, provided such restorauan or repau rs tranamwally feasible and the ucurit} of this Mattgagc is
<br />not Sheretry impaired. If s[xh restoration or repaar is rent ecassoaticalh' feasible or ,l rise secant} of this Mortgage would
<br />be impaired., the insurance proceeds shall be applied to the sums stvured b} this Mortgage, uuh the exttss, if any, paid
<br />its Borrower. ff the Proptm a abandoned b}' B.'srrawer, or ,t B:irrnwer tails to ra~,rad to Lender within 3Q days from the
<br />date ncrai~Y u madn3 bt' Letter [a Botmwrr that [Ise snsuran,:e utrrier ar3rn to settle a claim for insurance benefits. Lender
<br />is autharirsd to a-ailett and appl} t',r insuraaxr pr°~txds a[ Lender's aptior. other to restaratian ar repazr of the Proprrt}'
<br />~ to tfsr stets s~=rod !•y tL+i 4te_*ig~~.
<br />Uakss Lender ate BanuwTr otherwise agree :n cart*ing, any such application of proceeds to principal shall not extend
<br />~ posipcme the dsx date of ahe monthly instalLzaents reftrred ro in paragraphs I assts '' hereof or change the amount of
<br />ttacla isss.allasents If urxier paragraph 18 herctr•' the Prapen a acquired b} Lender, all right, tick and snterest of Barrower
<br />its and to any ituuraa.^c palitka sad in grad fa Lbe proceeds tbereaf resulting from damage fa €he Property prior to the sale
<br />or acquisition shall put to Lender ua the extetu of the sums resorts b}' thss \Songage immediately prior [o such sale ar
<br />acgrriQitiom
<br />f. Pssen~ and lNtr®tenasce of Prnpem'; Lsasel.alds, Coodomininms; Plaaaed L'nii Desefopmeats. Borrower
<br />shall keep the ProtsertY in gaud repair and shall not commit waste ar ptrmat tmpairmen[ or deterioration of the Property'
<br />tub shall emxpl}• with H>e provisions of aa} least ,f this Mortgage is an a leaschatd. It this Mortgage is an a troll in a
<br />coadaminiuas ar a plumed emit devrf.•spasrnt. Barrower shall perftnm all of Borrower's tsbligat[ans under the declaration
<br />or cov'eaasts creating or goveraang tht condominium er planned unit development, the by-laws and regulations of the
<br />coatfomiaittm ar pfannpd unit developmem, and ctsnstituent documents. If a condominium or planned uttit developmen:
<br />tides is tacoctited by Borrower at,d recorders together wills this Mortgage, the covenants and agreemcros of such rider
<br />shag be iafxtrporarod data and sfaall amtod and sup.gktnetit the covenants and agreements of this Mortgagt as if the rider
<br />were a part heroof.
<br />?. l ~ Lmitdrs's 5ec~ky. ff Baaower fails to perform the covenants and agreements contained in this
<br />Mortgagee, apt if nay ~titm or grocoeciing is cammentxd which mmierially af[ccts Lender i interest in [he Property,
<br />incftading, but rot limited ko, emir~nt datnaia, insalverscy. code enforcement, or arrangements or proceeding:, involving a
<br />baatrupt ar dxt~an, then Lender u Leader's Dorian, upon notice to Borrower, may make such appearances. disburse such
<br />stuns and take atnls action as is necessity to protect Lender's ,rtrrest, including, but not limited te, disbursement of
<br />reasonable a[totney's fees seat entry upon the Property to make repairs. if Lender required mortgage insurance a± a
<br />condition of making the Ioazi stetaed by this Mortgage, Barrower shall pay the premiums required to maintaui such
<br />i~tr~:,.c i..~a-~_..t 4.,^.[ ~~~ak ~ _ ,h^ ;s~_..__.__. f.^r ~.T"4 .::sursr~ ~rm~ T_., in ar~c±rda„rN w,rh Burr~wr,'s ~d
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