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<br />79-.. uCr~39~t5
<br />Urrrroatr CAVexnr+rs. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Prfndpal and Interval. Borrower shall promptly pay when due the principal of and interest en the
<br />iadebtedttess evidenced by the Note, prtpaymeni and late charges az provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. F®da for Tsaes and Iro[enmce. Subject to applicable law or to a written waiver by Lender, Borrower shat! pay
<br />to Leader on the day moathty installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a stop (heroin "Funds") equal fo 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 oatstwelfth of yearly premium irrstal[ments for mortgage insurance, if any, all az reasonably estimated initially and from
<br />time to brae by Lender oft the basis of assessments and bills and reasonable estimates thereof.
<br />The Fttttds sY.at! be held in an institution rise deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an inatitutianj. Lender shad apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. 1-endee 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 taw
<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 an tlx Ftmds shalt be paid to Borrower, and unless such agreement is made or applicable law
<br />requites such interest to be paid, Lender shall not be required to 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 the Funds and the
<br />purpose for which each debit to the Funds was made. The funds are pledged az 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 dot dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, insurance premiums and gmund rents az they fail due, such excess shall be, at Borrower's option, either
<br />prompdy repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shah not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower shall pay to Linder any amount necrssary to make up the deficiency within 30 days from the date notice is mailed
<br />by lender to Borrower requesting payment [hereof.
<br />Upon payment in fu6 of all surds secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />held by Leader If umltr narar<ranh [8 hereof r :~ ~„ta ~ rti~ prnmrev :~ t.,.,,...~ ~..,,,.~.v.r by r etaer r~.,.~~
<br />chap apply, no Later than~immedia[ely prior [o the sale of the Property or its acquisition by Lender, any Funds held by
<br />Leader at rho time o€ application as a credit against the sums secured by this Mortgage.
<br />3. Appliatioa M Pay®eNc Unless applicable taw provides otherwise, all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall !x applied by Lender 5rst in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to itntereu payable on the Note, then to the principal of the Note, and then, to interest and
<br />principal on any Future Advances.
<br />4. Chae~ Iieas. Borrower shalt pay aB [axes, ass,.-ssmtnts and other charges, fines and impositions attributable to
<br />the Property which may attain a priority over this Mortgage, and leasehold payments or gmund rents, if any, in the manner
<br />provided under paragraph 2 hermf or, if not paid in such manner, by Borrower making payment, when dve, directly to the
<br />payee thrawf. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and is the event
<br />Borrower shall mate payment directly. Bortower shall promptly fumish to Lender receipts evidencing such payments.
<br />Borrower shalt gromptty discharge any lien which has priority over this Mortgage; provided, that Borrower shalt not be
<br />requited to discharge any such lien so long az Borrower shall agree in writing to [he payment of the obligation secured by
<br />such lies in a meaner acceptable to Lender, or shalt in good faith contest such lien by, or defend enforcement of such lien in,
<br />legal ptncxdings which operate to prcveax tae enforcement of the Tien or forfeiture of the Property or any part thereof.
<br />S. Hmurd llmtaaace. Borrower shall kcep the improvements now existing ar hereafter erected on the Property insured
<br />against loss hY fire, ha>•ards included within the term "extended coverage", and such other hazards as Lender may require
<br />and in such amounts and for such periods az Leader may require; provided, that Lender shall not require that the amount of
<br />such coverage exceed twat amount of coverage required [o pay the sums secured by this Mortgage.
<br />The iroursace carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided,
<br />that such approval shall not be unreasonably withheld. All premiums an insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower mating payment, when due, directly to the
<br />inauranx carrier.
<br />All insurannce policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
<br />cla>ffie is favor of and in form acceptable to Leader. Lender shat! have [he right to hard the goticies and renewals thereof.
<br />pad Borrower shall promptly furnish to Lender alt renewal notices and all receipts of paid premiums. In the event of Ions,
<br />Borrows shalt give prompt notice to tae insurance carrier and Lender. Lender may make proof of loss if not made promptly
<br />by Borrower.
<br />Unksa Lender acrd Borrower 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 impait~. If stx6 restoration or repair is not economically feasible or if the security of this Mortgage would
<br />be impaired, the insurance proceeds shall bt applied to the sums secured by this Mortgage, with the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower faits to respond to Lender within 30 days from the
<br />date notice is mailed by Linder to Borrower that the iasttrance carrier offers to settle a claim for insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at L.endefs option either to restoration or repair of the Property
<br />ar W the stars secured by this Mortgage.
<br />Uttiess Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or postpone the due daft of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such icsta(lmtnta. If under paragraph 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />is and to any insurance policies and in and to the proceeds thereof resulting from damage to the Properly prior to tae sale
<br />of acquisition shall pass to Lender to the extent of the swans secured by this Mortgage immediately grior to such sale or
<br />acquisitioa.
<br />6. lra ~ Malnte>nnre of Property; Leasxhol~ Condominiums; Planned Unit Developments. Borrower
<br />shall kelp the Property in good repair pad shall not coarmi[ waste. or permit impairment or deterioration of the Property
<br />pled shall comply with the provisions of any lease if this Mottgage is on a leasehold. If this Mortgage is on a trait in a
<br />contlrnainium or a planned unit development, Borrower shall perform alt of Borrowers obligations wader the declaration
<br />or coz~emants creating or governing the condominium or planned unit development, the by-laws and regulations of the
<br />condominium or plattoed unit development, and constituent documents. If a condominium or planned unit development
<br />rider is executed by Borrower and recorded together wits this Mortgage, the covenants and agreemenu of such rider
<br />sLaB ire iacarpotated into pad shah amend pad supplement the covenants and agreements of this Mortgage az if the rider
<br />woe s part li~nof.
<br />T. Proftege® of Lader'a S. If Borrower fails to perform the envtnants and agreements contained in this
<br />Mortgage, or if any action or proceeding is comaxneed which materially affects Lender's interest in the Property,
<br />including, but not limited to, emiaernt domain, ituoivency, code enforcement, or arrangements or proceedings invoh•ing a
<br />Issnluupt or dtxtdmt, rhea Linder at Lt~er's option, upon notice to Borrower, may make such appearances, disburse such
<br />atmtt and take such action as is nxassary [o protect Leader's interest. including, but not limited to, disbursement of
<br />xti~mable attorney's fen attd tatty urn the Property to make repairs. If Lender required mortgage insurance as a
<br />t~acBtion of making the loan seared by this Mortgage, Borrower saall pay the premiums required to maintain such
<br />inuurance io effect until such time as the requitement for such insurance terminates in accordance with Borrower's and
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