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<br />79- t~E?~~~U~
<br />LIW[r+ORM CoverJnNrs. Borrower and Lender covenant and agree as foliaws:
<br />1. Payment of Pztndpal and Interest. Borrower shall prompily pay when due the principal of and interest en the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. Fonds for Taxes and Lssutance. 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 Note, until the Note is paid in full.
<br />a attm (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 Propery. 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 />tame fo time by Leader vn Ute basis of assessmems and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lrnder if Lender is such an ins6tutian). 1_ender shall apply the Funds io pay said taxes, assessments,
<br />irsurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, ana}yzing said account,
<br />yr verifying and compiling said assessments and bills. unless Lender pa}'s Borrower interest an 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 on the Funds sha!1 be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shat) nai be required to pay Borrower any interest err earnings nn the Funds. Lender
<br />shall give io Borrower, wiUtaut 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 far the sums secived
<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 />[he due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />ass~srnents, insuranre premiums and ground rents as the}' fall due, such excess shalt be. at Borrower's option, either
<br />prompily 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 steal] pay to Lender an}' amount necessary to make up the ileficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereaf.
<br />Upon payment in fall of atI sums secured b}• this Mortgage. Lender shall promptly refund to Borrower any Funds
<br />R~ !.,, r ~ If ,.,,;~. a.a I$ w,,,,._,f .~ p..,.. , i=. wed . ,h,. P.., _ vMna~i _ _ red by I nder 1 nder
<br />yr ., paragruYu _ pnY - v .wr: t' ,e . ee aenaa~ -§- ___: -t`
<br />shag apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Leader at the time of application as a credit against the sums secured by this Mortgage.
<br />3. Application of Payments. Unless applicable law provides Mherwise, all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be appbed by Lrnder first in pa}ment of amounts payable to Lender by Borrox~er
<br />under paragraph 2 hereof, then to interest payable an the Nate, then to the principal of the Note. and then ro interest and
<br />principal on any Future Advances.
<br />4. CTsaege~ I3etrs. Borrower shall ply all tales, a>_czssmerts and arbor charges, fines and impashinns attributable to
<br />the Property which may attain a priority over this tiiortgage, and feasehald payments err ground rents, if any, in the manner
<br />provided tinder paragraph 2 hetmf or, if not paid in such manner. b} Borrower making pa}moot when due, dirrcUy to the
<br />payee thereof. Borrower shag prompily furnish to Lender atl notices of amounu due under this paragraph. and in the event
<br />Borrosror shall make payment directly. Barraw~er shall promptly fumish to Lender receipts evidencing such payments.
<br />Borrower shag promptly discharge any lien which has priority Deer this Mortgage; prevailed, that Burrower shalt not be
<br />required to discharge nay such lien so long s :,arrower shall agree in writing to the payment of the nbligatian secutvd by
<br />such lien in a manger arx,eptable to Lender, err shalt in good faith contest such lien by, err defend enfrrcement of such lien in,
<br />legal procxdings which operate to prevent ffie enforcement of the lien or forfeiture of the Property or any pan thereaf.
<br />5. Heard ia~ Harrower steals keep the improvements now existing or hereafter erected on the Property insured
<br />agaimY loss by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br />and in welt amounts and for such periods as Lender may require; provided, [hat Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage reSuired to pay the sums secured by this Diongage.
<br />The insurance carrier providing the insurance shelf be chosen by Borrower subject to approval b} Lender, provided,
<br />that such approval shall not be unrevoasbf}• withheld. Ail prremiums on insurance paiicia shall t+r paid in the manner
<br />provided tutder paragraph 2 hereof err, if ,rot paid in such manner, 6p Borrowu making payment, when doe, directly to the
<br />inwraace cattier.
<br />AB insurance poticia atxl rzttewats fFserrof shalt Ix in Corm acceptable to Lender and shall ancludr a standard mortgage
<br />clause in favor of and is farm acceptabk to Lender- Lender shall have the right M bald the policies and renewals thereaf.
<br />and Bazvw~r shat' prompily furnish is Londe; all renewal raais~rs and aP re..~ipis of paid premiums. I^ ihr event of ~.
<br />Borrower shall give prompt ttatice to the irsurutcr carrier and Lender. Lrnder ma} make prt,~,f of toss if not made promptiv
<br />t; j' Borrower.
<br />Littlese Cradle and Batrawer cxheru!se agree in u riling, insurance prxe:'ds shall be applied !o n'storata-+n or repair of
<br />elm Property damaged, provided such restarataan or repair is c~-onomically ieas!bir and the security of thus Mortgage is
<br />teat thereby impaired. If such rrsterauon yr repair is not rconom!cally Iras`hIE err ~[ the srcunt} of ;h!s Alartgage would
<br />6e impaired the insuratxx prw~eais shad be applied to the stuns secured by this \iongagc, with the c~ •css, if an;, pa+d
<br />to Borrower- If the Propem~ is abandoned by Bormxer, or it & rmwer tails to respond in l.endrs w!ttt.n 3U days tram the
<br />date ttotiar is mailed by Lender to Barrawer that the ansurance .:erne: o;{crs tv serie :, claim for msurancr benctits. Lender
<br />is authorized is colkrt and appf} tfx insuranu praeercis at Lender's opuan either to raiorata_,n or rrpa+r of the Proper}
<br />err to the sums secured by this Mortgage-
<br />I:nIeSS L-!tiler and B6rraA":r athrtw'as; 3gr'ee an wraIlP.g. 3n`' such apphCat!an nt rrtv"?GQ, to p_ n~!~ s6ali 1'attr 2vlrnd
<br />m postpone the due dart of the monthiv instalfinenu referred to in paragra¢ris 7 anJ ? horror or'change the amount of
<br />strltinstalimrns. F ttndor patagrapln i$ hereof tl>` Praperh is acquired by' Lender. all nght. uttr and !ntrrrst at Bt~rrnxer
<br />in and to any inwrance poficia a~ in and to the pnw^reds thereat rauhing ham damage w the Pr, pert} p.•!:v to the sale
<br />~ ~gnisitiw shall pass to L.er>der w the rxtrni of the sutr_s secured b} this f.forteagr tmmed!aeely pray to >uch sale or
<br />aoquiaitmn.
<br />4 Prestrvatien ad Maiaresace of Prnp<rt}; Leaser Coaelomirtiam~ Ptasrned 1-!rir Develapnxats Barrau er
<br />shag kxp the Property is good rel+air and shall not commit waste or permit imps+rment or deterioration of t^ie Prapert}
<br />erred shall ocmtply with the provisions of any lease if [tees Mortgage is ott a lea>rhnld. If this `.ivttgage is or a unit irz a
<br />corDda®iaiu.2 or a planned emit development Borrower shall perform nit of Borrower's abiigatiens under the diZ-laration
<br />as covenants creating err governing for condamsnium ar planned wont development the by-laws and regulations of the
<br />condomiait~ ~ planned unit deveiolnncnt art$ constituent iioctm[ents. If a candaminium err planned writ dev=-fopmem
<br />rider is eitecttied b7' Borrower and tesrotdtxl together wail! this Mortgage, the covenants and agreements of such nder
<br />shall be iecorporated into and stag amend and sttppkment the covenants and agreements of this Mongagc as if :he rider
<br />rrore a part hacreaf.
<br />?. )!teEaella~a aeF I.a+adex's Satveiy. If Bartawer fails to perform the covenants and agreements caninined in Chas
<br />IttiMgit~e, ~ if any actir$ err prooe~ag is cumtnatnced which materially affects Lrnder's interest in the Property.
<br />irtcltrding, btR not fimited ter, emioeat domain, iffiofvenc}•, code enforcement. or arrangements or proceedings involving a
<br />bantrupl or elecedatt, dten Lsadu at leader's option, upon notice to Borrower, may make such appearances, disburse such
<br />game atul take nteh aetim as is tecessary ro protect Lenders interest, including, but not limited to, disbursement of
<br />reasonable attorney's fees s~ earn upc+>v the Property to make repairs. If Lender required mortgage insurance as a
<br />oonditian of mating tlu loan secured by this Ma,~age, Barrow:r shall pay the premiums required to maintain such
<br />itmtxance in effect tmnl such time as rtes rgttirement for such insurance terminates in accordance with Borrower's and
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