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<br />79- c~U4354
<br />UxrnoxM CovExnxrs. Borrower and Leader covenant and agree as follows:
<br />1. Payiatent of Prlitcipa! cad Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges a • provided in the Note, and zhe principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. I+Lnds for Tar<ea sod Insaraace. 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 interer_ are payable under tht Note, until the Note is paid in full,
<br />a slim (herein "Funds") equal to oat-twelf4't of the yearly t :xes and assessments which may attain priority over this
<br />Mortgage, and ground rents on the Property, if any, plus one-.welf[h of yearly premium instaltmeau for hazard insurance,
<br />plus one-twelfth of yearly premium installments far mortgage insurance, if any, ail as reasonably estimated initially and from
<br />fime to time by Lendtr on the basis of assessments and bills and reasonable estimates thereof.
<br />The k~mds shall be held in an institution the dtposiu o' accounu of which are insured or guaranteed by a Federal or
<br />state agency (including Leader if Lender is such an institution). Lender shalt apply the Funds to pay said taxes, assessmenu,
<br />ittsttrattce premiums and ground renu. Leader may not charge for a holding and applying the Funds, analyzing said account.
<br />or verifying and compiling said assessments and bills, unleu Lender pays Borrower interest on the Funds and applicable law
<br />permiu Lender to make such a r,}targe. Bortower and Lender may egret in writing at the time of txecudon of this
<br />Mortgage that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requites such interest to be paid, Lender shall not t>e required to pay Borrower any interest of earnings on the Funds. Lender
<br />shag gilt; to Borrower, without chargt, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />Inirpose for which tech debit to the Funds was made. 1~: Funds are pledged as additional security for tht sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender, togtther with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessmrau, iffiurance premiums and ground renu, shall tweed the amount required to pay said texts.
<br />assessments, insurance gretttiu[ns and ground renu as they fall dtx, such excess shall bc, ai Borrower's option, eithtr
<br />p[i>osptly repaid to Borrower or credited to Barmwer on morth!y installmenu of Funds. If the amount of the Funds
<br />held by Lender shad cat be sittficient to pay [axes, assessments, insurance premiums and ground renu as they fall dtx,
<br />Borrower shall pap to Lendu any amount necessary to make up the deficiency within 30 days from the date notice is matted
<br />tg Ltffiltr to 13otrower regt[~stittg- payttunt thereof -
<br />Upoa payment in full of all sums se.-.irred by thx Mongagt, Ltndtr shall promptly refund to Borrower arty Funds
<br />held 6v Ltndtr. If xnder ttaraeraah 18 hertal tht Pmpem~ +s said or tht Propert}' is otherwise acgairtai b}' Lender. Lender
<br />stnaB apply, rto later than itnmediauty prier to tlx sett . t the Proxny or its acquisition by Lender, ant' Funds hdd by
<br />tender at the time of appli~tion as a credit agutut the sums secured Dy this litengage.
<br />3. of P[gmeab. L;nless apgiicabk law pro+ides otherwise, alt payments received by Lender under the
<br />More a~ paragraphs 1 and 2 boreal shall be applied by Lendtr ftrsi +n payment of amounu payable to Lendtr by Borrower
<br />tinder paragraph 2 hetwf, then to inierxxt payable an the '.~ore_ then to the principal of the Note, and then to inttrest and
<br />principal ~ any Fitttttt Adtancss.
<br />Q. Clew IJe6. Borrower ;bat; pa}~ alt taxes. assessmenu and othtr charges, fines and impositions attnbutabk to
<br />ifu Pr'opat} whidt ra8y suasit a priority over this 4lcngage. amt kasehald gapmtnu or ground renu if any, in the manner
<br />provided tinder paragraph 2 l[etmf or, if not pad in Birch maarxr. by Borrower making payment, when dix, dittx-t!y to the
<br />pa}c+t thereof. Borrower shall prurnptiy ftsratsS Eo Lendtr alt rtauxs of amounu due under this paragraph, and in the event
<br />Borrawer shag matt pa}tnent directly, Borrawer shall gromp[h' tarnish to Ltnder receipts cvidtncmg such payrtitnu.
<br />13~rosvu shalt promp:ly discharge any i;tn +'hich has poor+tv over this Mortgage; pmvidtd, that Bermwer shall not be
<br />regttiral ro dischaigt any such lien sa long as 13errawrr sha27 agrtc in wrung to the payment et the obligation secured by
<br />such lira in a Arm acttptabie to Ltnder, or shalt in good faith crontest such tsen by, or deftnd enfarcxment of such firn in,
<br />legal psocaediags which operate to greveat the enforrrment of the Yien ar forfeiture of the Properly or any pan thereof.
<br />5. Hated l.®.+.rw BolrowYt shat! trop the impmvemenu now exiuing or hereafrer erected on the Praptny insured
<br />against loss by fire, harards itic{ttded within the term "tucndcd coverage". and such otMr hoards as Lender may require
<br />and in such amounts and for such periods as Leader mat require: pravidtd, that Ltndtr shall not require that the amount of
<br />stt~ cax>erage tstxed the[ atnortnt of coverage required t. nay rite sums Bleared by this Mengage.
<br />The itssutasaro artier providing the iasuran.^t shaft be chosen by Barrourr subject to approval by' Leader, pmvidtd.
<br />thu retch approval stall atx be uareasattabty w-ithlre#d. :4ii pretniu[rts os: iasurans-e policies shall be paid in the maarxr
<br />provided rtndtz paragraph 2 htrmf or. if aai paid in stn-h manner, by Borrawer making pa}•mtnt, whtF dui. dimctly to the
<br />iastiraoct tstrier.
<br />AB A.-e policies atxf r®ewals thorn f shall br in forn acxptabk to Lender and shalt include a standard mor[gagt
<br />tdatae in favor of and m faint ataxpta.'>k to Ltndtr. i~nckr shah have the right to hold the policies and renewals thereof,
<br />cad Lt<±n++?tt+tt ~! ptompL;y f~n+-ish to t.sadet aL tettcw-ai n,~t>4-es and all ttx-tipts of acid premiums- In the cscnt of loss.
<br />E~arrov.tr ;hail give pratnpt nv-+ti.~ x. [he ittsrir,~~ a,-titr cad Ltn„r' r. Lear ma} mane t ma: of 3oss if avt made premptl}
<br />by Boxrx.~tr.
<br />Unless Lender and 9.~urawer txhtrw•ise egret in a-riling, instuance prtactds shalt be applied to rtstoratxin ar rcpair of
<br />ihC Prrrpaty damaged, provided such restonuoa or repur a econotnicaih' itasiblr and the scanty of zh+s Mangage is
<br />rtat titetsb}• impaired. If s»ch rt~.oratian or rega+r is not zr.'*nuai:a!ly frasibk ar rt the securit} of this Mnngagt would
<br />bt imptirod, rise iastiraaet groxids shall be applied to the sums sa-urod by this Mortgage, with the excess, if an}'. paid
<br />to ]3tmower. 1f [bt Propr~t} is abamioced by Barmier, or rt Bcim-wxer fads to respond to Lendtr within 3U days fra^_e the
<br />dui is t»ailtd b}• Ltndtr to Borrow•tr that the :tssusapct carrier nr?tn to stitlr a c.'atm for ituuraact txnefits, Ltnder
<br />is atabocired to ccdktt and appiv :he iastuaart proceeds at Ltndtr s aFaion either to rtstaratian .'+r repair of the Propett}'
<br />or Ea the 3rttits stttired try the Atortgigt.
<br />Unless. itnMr cad Btviawer :r,Derwi9[ agree :n sirrtittg, anti such apa:icarion of on,cttids to pnnapai shat! net extend
<br />x ptapmte the due dart al tlx maathly installrnenzs rttttttd to in paragraphs i and ;hereof or change the amount of
<br />tarh Wis. it ittt~ patttgtaph lg htteaa# the Proptm :s a.quirtd try Lendtr, all right, title and interest of Borrower
<br />is and to any ittsatance pa'i~es and is and to the proceeds ilter~f rtsul:ing from damage tc the Property' grior to the salt
<br />or acgaisidaa shall pass to Leruta is the euent ,.~ the Batas sa-urtd by ibis hiartgagt imtrxdiuely prior to such Bak or
<br />>~
<br />f. hmt>.sim ad 14fttiesBemre of Property: Letsthal8fi Condotaiainm~ Phoned lick Devdopn[enis. Bormwt:
<br />shalt trop the Property is good repair alai shag s>nr commit wash or permit imgairtneni or deterioration of the Property
<br />clad shall Ply with the prov~ians of any lease d this !.iangage is on a kasthotd. If this Mortgage is on a unit in a
<br />coadaminsitm x a planned snit de>~lrspat~-at, $~~rawtr sh.f3 preform al; of Borrower's abiigatiaas uncle: the declaration
<br />ar tww+enaats txesting ~ govttning tlg condominium or planned unit deve}opment, the by-laws and regulations of the
<br />.~,.„~,,,~~ a- i ..Y, ~rt.:ad ~~sti[~,-n d€~umtnis. if a :.on3on;i,~ti;;;r; or g:a.;ntd t.nit dts~elopmtnt
<br />rider a ex+eautd b}' Botixttirr cad r+erorded tagtthcr w;th this Mangage, the a~venanu and agteemtnis of such rider
<br />shag be mceaporaxd int6 and shat! amend s~ supplement the aT>~enanu and agrttmenu of th>s Mortgage as if the rider
<br />were a pair hereof.
<br />7. Pralee~ae ii ltadnfa S~acnekt. If 8a[rowtr fails to perform the covtnanu cad agreemenu contained in this
<br />Mtulgsge, or if tag ate ar pretxeding is ~mmtaced wfiich materially affects Lender's interest in the Property,
<br />~tlitttaatg, ~ act 1'tmitad io, ~iaeat domain, 7nstdvtncy, code tafortxtmnt, or arrangemenu or proceedings involving a
<br />haaltntpt s +t, then Larder ar I.mder's option, upon trotice to Borrower, may make such appearances, disburse such
<br />sr~s cant lake ws~6 notion n is necessary to genteel Lerititrs interest, incfudiag, but nai limited to, disbursement of
<br />r'eamatde a[tomey'a fens attd enrtp sipon [he Property to make repairs. If Ltnder required mortgage insurance as a
<br />txtadiEitm of mtkittg d+e boa coerced b3 this Moztgagt, Borrow~tr ahafl pay the premiums required to mains in such
<br />imaraax in tHtct itattil ~ bate as t)x requirrmtnt for such insuranw terminates in accordance with Borrowers and
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