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79-- uU3841
<br />UN[PORM Covertnwrs. Borrower and Lender covenant and agree as follows:
<br />I. PaymenS of Prhrdpal and Interest. Borrower shall promptly pay when due the principal of and interest nn the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on soy Fufure Advances secured by this Mortgage.
<br />2. Flings far Tares a~ Insureace. Subject to applicable law ar to a written waiver by Lender, Borrower shall pay
<br />to sander on the day monthly installments of principal and interest are payable under the Note, until the Nete is paid in full,
<br />a sum (herein "Fonda") 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 />time 20 6me by Lender oa tbe basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposi6 or accounts of which are insured or guaranteed 6y 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 />ir,•nrance 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 Lendcr pays Borrower interest on the Funds and applicable law
<br />permis Lender to make such a chsrge. Borrower and Lender may agree in writing at the time er execution of this
<br />Mortgage that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requira such lateral to be paid, Lender shall rot be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give io Borrower, without charge, an annual accounting of the Funds showing credits 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 Use Funets Geld by Lender, together with the furore monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, irsurance premiums and ground renu, shall exceed the amount required to pay said taxes,
<br />assessments, insurance premitums and ground rents as they 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 the Funds
<br />held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground renu as they fall due,
<br />Borrower shalt pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender 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 />Geld by Lender. If uneier paragraph 18 hereof the Property is sold or the Properly is otherwise acquired by Lendcr, Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />ruy_a~r at _f e u..e.• ,.~:t .. ~ e,r *his Mo.,e~m
<br />Lhg u..,~ ., orY....a.xr. a, a . agatrst the suns secur... y . ,.bob.
<br />3. AppBe~ion of Payments. Unless applicable law 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 />unskr paragraph 2 hereof, Urea 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 />d. C6azges; Liens. Borrower shall pay alt taxes, assessments and other charges, fines and impositions attributable to
<br />Ilte Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or, if net paid in such manner, by Borrower making payment, when due, directly to the
<br />payee Utsreof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and io the event
<br />Borrower shall make payment directly, Borrower shall promptly famish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shall not be
<br />required 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 manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in,
<br />legsl proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5. Hazard Lttsarantt. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against lass by 5re, hazards included within the tens "extended coverage", and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may require; provided, that Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
<br />Tlx insurance carrier providing tbe insurance shall be chosen by Borrower subject to approval by Lender; provided,
<br />that such approval shad not be unreasonably withheld. Alt premiums on insurance policies shall be paid in the roamer
<br />prorieled under paragraph 2 hereof or, if nM paid in such manner, by Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />AB insurance policies and aenewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof,
<br />sad Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of lass,
<br />Borrower shall give prarrtpt notice to the insurance carrier and Lender, Lender may make proof of loss if eat made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agrce in writing, insurance proceeds shaft 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 />sot thereby impaired. If such restoration or repair h not economically feasible or if the security of this Mortgage would
<br />be impaired, tbe insurance proceeds sha8 be applied to the earns secured by this Mortgage, with the excess, if any, paid
<br />W Borrower. If the Property is abandoned by Borrower, or if Borrower fails m respond to Lender within 30 days from the
<br />date aoUce is mailed by Leader to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or to the sums secured by this Mortgage.
<br />Unless Leneier and Borrower otherwise agrce in writing, any such application of proceeds to principal shall not extend
<br />cr pexst~,,one the dt~ date of the monthly installments referred to in paragraphs I and Z hereof or change the amount of
<br />smh installments. If trader paragraph 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />in and to any insurance policies and in and to the; proceeds thereof resulting from damage to the Property prior to the sate
<br />or 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. Preaervatiaa sad Maintensaee of Property; Lease6oitts; Cemdominiums; Planned Unlt Developments. Borrower
<br />shall keep the Property in good repair and shall not commit waste ar permit impairment or deterioration of the Property
<br />and shall comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a
<br />coadominitrm or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration
<br />or corvenants creating or governing the condominium or planned unit development, the by-laws and regulations of the
<br />t~nelomittiuai or planned unit rlsve7opment, and constituent documents, if a condominium or planned unit development
<br />rider is sxtcttsed by Harrmvse and recorbed together with this Mortgage, the covenants and agreements of such rider
<br />shag be incorporated into and shall ameml and supplement the covenants and agreements of this Mortgage as if the rider
<br />wart a part hereof.
<br />?. PrtMtrtloa erf [.anger's Secarky. It Borrower fails to perform the covenants and agreements contained in this
<br />Mortgage,. or if any action or proceeding is cammeaced which materially affects Lender's interest in the Property,
<br />"Including, but not lia»ted to, eminent domain; insolvency, code enforcement, or arrangements or proceedings involving a
<br />bankt[[pt ex eieralent, then Lentkr at Lender's option, upon notice to Borrower, may make such appearances, disburse such
<br />errors and take such scion as is necessary to protect Lenders interest, including, but not limited to, disbursement of
<br />ttaaonable attorney's flea a~ entry upon the Property to make repairs. If Lender required mortgage insurance as a
<br />condition of making the loan sexurtd by Cain MartRage, Borrower shalt pay the premiums required to maintain such
<br />insurance in effect until such rims as the requirement for such insurance terminates in accordance with Borrowers and
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