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<br />79- L(t,`3fi~2
<br />UNIFORM CoveHnrrts. Borrower and Lender covenant and agree as follows:
<br />I. Payment of PrintIpal and Interest. Borrower shall promptly pay when due the pnncipai 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 />or, any Future Advances secured by this Mortgage.
<br />2. Fbnds for Taza and Iosurante. Subject to applicable taw 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 [he Note is paid in full,
<br />a stun (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-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 />tLT.e t6 tirrx by LEndei on the basis of assessments and hills and reasonable estimates thereof.
<br />Tri Funds shall be held in an institution the deposits or accomts of which are insured or guaranteed by a Federal or
<br />stair 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 [he Funds, analyzing said account,
<br />or verifying and compiling said azsessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender [o maAe such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that ir•.terest on the Funds shalt be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interes: to be paid, Lender shalt not be required [o pay Borrower any interest or earnings on the Funds. Lender
<br />shalt give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to [he Funds and the
<br />purpose for which each debit to [he Funds was made. 'I7te Funds are pledged az additional security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds Geld by Lender, together with the future monthly installments of Funds payable prior to
<br />[he due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents as the}• fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of [he Funds
<br />held by Lender shall not be sufficient to pay taxes. assessments, insurance premiums and ground rents az they fall due.
<br />Borrower shall pay to Lender any amount necessan• 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 full of all sums secured by this Mortgage. lender shall promptly refund to Borrower any Funds
<br />_ _ _ ,c cold nr
<br />r.~u ~ r a,,,te. rr ,..,.ter paragraph 18 ~^~°^r .t,a c~~,.,^rt~ the Prn.,~.rts is olherwicc :zcauired by Lender, Lender
<br />shall apply; no later than immediate)}' prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Lender at the tune of application az a credit against the sums secured by thrs Mortgage.
<br />3. Applieatbn of Payments. L'~nless applicable law presides otherwise, all payments received b}' Lender uncle: the
<br />Note and paragraphs 1 and 2 hereof shall 6e applied by Lender first in payment a( amounts payable to Lender by Borrower
<br />under pangragh 2 hereof, then to interest pa}'able on the Note. then to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />6. Chugefi Liens. Borrower shall pap alt taxes. assessments and other charges. fines and impositions attributable io
<br />the Property which may anain a priority aver this Mortgage, and leasehold payments or ground rents, if any, in the manger
<br />provided undo paragraph 2 hereof or, if oat paid in such manner, by Borrower making payment, when due, directly to the
<br />paste thereof. Borrower shall prompdy furnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment direct)}'. Borrower shall promptly fumish to Lender receipts evidencing such payments.
<br />Borrowu shall promptly discharge any Ixn which has priority over this Mortgage; provided, that Borrower shall not be
<br />regtnrtd to discharge any such lien so long as Borrower shalt agree in writing to the payment of the obligation secured by
<br />stick lien in a manner acceptable to Lender. o: shall in good faith contest such lien by, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or am' part thereof.
<br />S. Hared fasarance. Harrower shall keep the improsements now existing or hereafter erected on the Property insured
<br />agaiffit loss by fire, hazards included within the term "extended coverage', and such other hazards as Lender ma}' require
<br />and in such amounts and for such periods as Lender may require; provided, that Lender shall not inquire that the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured by :his Mortgage.
<br />'Ike irtsurr[rtcc carrier providing the insurance shall tx chosen by Borrower subject to appros•al ba' ).ender, provide),
<br />that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
<br />provides under paragraph 2 hereof or, if not paid in such manner, 6y Borrower making payment, when due. drtecti}• to the
<br />insurance carrier.
<br />AH insurance policies and renewals thereof shall be in form acceptable to lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Linder. Lender shall have the righ::c. hold the policies and renewals thereof,
<br />and Borrower shalt promptly ftu-nish to Lender all renewal notices and all receipts of paid premiums. ]n the event of toss,
<br />Borrower shall give prompt notice to the insurance carrier and Lender. Lender ma} make prcx~f of loss if not made prompdy
<br />by ~arrower-
<br />Unieas Linder and Borrower otherwise agree in writing, insurance prs>Leeds shalt be applied to restoration or repair of
<br />the Property damaged, provided such restoration or rtpsir is economicalh' ftavble and the security of this Mortgage rs
<br />not thereby im¢aired. If such maorauon. or repair is not economically tensible 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 an}', paid
<br />to Borrower. If the Property is abandoned by $orr.?wer, or ii Harrower fails to respond to Lender within 30 days from tht
<br />date notice is mailed by Leader ro Borrower that the insurance carrier oilers to settle a claim fey insurance benefits, Lend:r
<br />is authorized to collect and apply the insurance procceds at Lender's option either to reswration or repair of tl:P Property
<br />or to the sums secures[ by this Mortgage.
<br />Unless Lender attd Borrower uiherwisi agree m venting, an} such application of prxeeds to principal shall not ex;c~d
<br />or psutpotie the due date of the monthly installments referred to in paragraphs I and Z hereof or ct+ange the amount of
<br />such itutaliments. If under paragraph 18 hereof the Propett} is acquired by Lender, alt right, :'re ~rrd interest of Borrcwer
<br />in and to any insurance policies and in and to the precteds thereof resu!tiag from damage to the Property prior to the sale
<br />ar acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
<br />acquisition.
<br />6. trtatn-atbn gad Maintenance of Property; LeasRholds; Condominiums; Planned Unit Developments. Borroter
<br />shall keep the Property in good repair and shall oat commit waste or permit impairment ar deterioration cf the Prnpertp
<br />and shall comply with the provisions of any least if this Mongagt is on a leasehold. 1f this Mortgage is on a unit in a
<br />condominium or a planned unit development, Borrower shall perform all of Borrower's obligations undo the dc;claraaor.
<br />or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the
<br />condominium or planned unit development, and constituent documents. If a rondominium or planned urtit development
<br />rider is executed by Borrower and recorded together with this Mortgage, the covenants and agreements of such rider
<br />sbal! be incorporated info and shall amend and supplement the covenants anti agreements of this Mortgage as if the rider
<br />were a part hereof.
<br />7. Pta~aclioe ~ Lzader's Secttrrtp. !f Borrower fails to pcrfornt the covenants and agreements contained in this
<br />Mortgage, of if gay action or proceeding is commenced which materially affects Ltndei s interest in the Property.
<br />including, but nIX limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
<br />banknipt or decedent, then Lender at Lwdu's option, upon notice ro Borrower, may make such appearances, disburse such
<br />sums and take such action as is necessary to protest Lender's interest, including. but not limited to, disbursement of
<br />reasonable attorney's fees and entry upon the Property to make repair. If Lender required mortgage insurance as a
<br />aoadition of making the loan secured by this Mortgage, Borrower shall pay the premiums required [o maintain such
<br />iastuatice in e£rett mttB such time as the requirement for such insurance terminates in accordance with Borrower's and
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