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<br />79-~t)~587
<br />Uxrroatsi Covexexts. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Iateresi. Borrower shall promptly pay when due the principal 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 />on any Future Advances secured by this Mortgage.
<br />2. Fond for Taxes sad Insolence. Subject to applicable law or to a written waiver by Lender, Borrower shalt 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 sttm (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 otte-twelfth of yeazly Qremium installments for mortgage insurance, if any, alt as reasonably estimated initially and from
<br />6me tv time by Lender on the basis of ass~smertts 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 Lender if Lender is such an institution). Lender shalt apply the Funds to pay said taxes, assessments,
<br />inst3rarrro 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 Leader pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Leader may agree in writing at the time of execution of this
<br />Mortgage [hat interest on the Funds shall be paid to Harrower, and unless such agreement h made or applicable taw
<br />requires such interest to be paid, Leader shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without chazge, as annual accouming of the Funds showing credits and debizs to the Funds and the
<br />` purpose for which each debit to the Funds was made. The Funds arc pledged as additional security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds 6Ud by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents. shall exceed rho amount requited to pay said taxes,
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrowei 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 Leader shalt not be str~cient to pay tales, assessments. insurance premiums and ground rents as they fall due,
<br />Borrower shall pay [o Lender any amount necessary to make up the deficiency within 30 dais from the date notice is mailed
<br />by Leader to Borrower tequestiag payment thereof.
<br />LSpvn nayment is fu13 of all sums secured by this Mortgage. Lender shag promptly refund to Borrower any Funds
<br />hdd by Lender, if under paragraph 18 hereof the Property is sold or the Proper} is otherwise acquired by Lender, Lender
<br />shwa apply, no Ister than immediately prior to the sale of the Property er its acquisition by Lender, any Funds held by
<br />Ltmder at the tune of application as a credit against the sums secured by this lfartgage.
<br />3. A~plicatloe of Payments Unless applicable lea provides otherwisr, 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 $orrower
<br />under paragraph 2 hereof, then to interest payable on the Note. Shen to the principal of the Note, and then ro interest and
<br />principal oo any Future Advances.
<br />6- L'ktagrs; £3ess, Borrower shall pay all rases. assessments and other charges. fines and impositions attributable to
<br />the Property which may attain a Qriotity over this Mortgage, and leasehold payments ar ground rents, if any, in rho mantur
<br />provided under puagraph 2 hereof or, if not paid in such manner, by Borrower making payment, w•hea due, directly to the
<br />payee thereof. Borrower shall promptly famish to Lender all notices of amounzs due under this paragraph, and in the event
<br />Borrower shag make payment directly, $orr~weer shall promptly furnish ro Lender receipts evidencing such payments.
<br />Bomtyver shall promptly discharge nay lien w•'tich has priorin' over this Mongage; provtded, that Borrower shall not be
<br />ret}ttited to discharge any such lien so long as Borrower shall agree in uri[ing to the payment of the obligation secured by
<br />such lies in a manner seceptabk to Leader, or shall in good faith molest such lien by, or defend enforcement of such lien in,
<br />legal protxeeEittgs which operate la prevent the enforcrntent of the lien or forfeiture of the Property ar an}' part thereof.
<br />5. Hoard IdtKaee. Borrower steal! keep the imgrovertients now existing or hereafter erected on the Pmpert}• insured
<br />against loss by fire, hazards included within flu term "extended coverage". and such oche: hazards as Lender ma}• require
<br />atxd in steep atxtounts and far such periods as Len~°r may require; provided, that Lender shall not require that the a[n~unt of
<br />such coverage erc-etd char amoum of coverage required to pa} the wms shared by this Mortgage.
<br />The ittsurttm carrier presiding the iasutantt shall be chosen by Borrower subject to approval by Lender, provided.
<br />that such aQl+rovsl shag nni be turrcasonably uithheHI. RB premiums on insurantt policies shall ce psid in the manner
<br />provided under paragraph 2 hereof or, d trot paid in such mancer, by Borrower malting payment, when due, directly to the
<br />iamrana arrier.
<br />AB iamrarxe policies and renewals ihermt shall be in form acceptable ro Lender and steal! include a standard mortgage
<br />clatse in favor of a~ i_ form acxptabk zo Leader. lender shalt have the right to hold the policies and renewals thereof.
<br />and Botiawer shall promptly furnish to teatter aIl renewal r~s and all re.;cipas a*" paid premium>. In the event of loss,
<br />Bottowa steel! give paompt entree [o the ias:trance carrier and Leader. Lender ma}' make proof of loss if not made promptl}'
<br />by Borrower.
<br />Unie~ Leader a~ Borrower mhcrwise agrce in writing, iasurarct proceeds shall be applied to restoratiau or repair of
<br />the Property damaged, provided such restorauan or repair a ecanamicaay feasible and the securit} of this Mortgage is
<br />aoi theaeby impaired. Sf such rrstaratiun or repair is not economically ieasihle ur tt the securin- at this Mortgage would
<br />be impaired, the instetance proceeds shall be applied fe the sums secured by the Mortgage. wit1+ the excess, if any, paid
<br />to Borrower, if the property is abartdonai h} Bornwer, or ii Borrower fain ro respotxt to Lender within 30 days from the
<br />date notice is mailed b}• Leadu to Borrower that the iasuran.~ .-arrier otters to settle a claim for iuurance benefits, Lender
<br />u atnhorixod w vol3ect and ap~y flu insurao.:e proceeds at Lender i option etther to restan_t:an or repair of the Properly
<br />ar ro the sums secured by this Mortgage.
<br />Unless Lersder and Borrower ctherw-ise agrx in writing, an} such apptiratior. of prxeeds to pnnctpal shall not extend
<br />ax postpone the due date of the atartihl}• installments referred to in paragraphs 1 .and 2 hereof or change the amount of
<br />mete imtallmtmts. if under patagrap4 18 hereof the Propem~ is acquired b} Lender, all righ?, title and interest of Horrower
<br />in a~ to nay ~++~ ++~-~ policies and in and to the prxeeds ~hereet resulting from damage to ire Properly prior to the sale
<br />or aottsisiritxt shall pass to Leader to the exieat of the stuns secured by this Rortgage immediately prior to such sale or
<br />scrgratttan.
<br />t hsv+aaion and Ma-stesant:e of Pmpexsy: i.eaeebold~ Coadominiumx Planned U®it Decelopmenrs. Borrower
<br />shag keep the Property io good repau and shai3 not commit wasu or permit impairment or de:erivration of the Praperiy
<br />and shall ~PIy with the provisions of nay lease if this Mongage is no ~ leasehold. If this Mortgage is on a unit in a
<br />eooilominitem or a planned unit development, Borrower shall perform ail of Harrowers obligations under the declaration
<br />~ c~rc~~ni3 4-rat;~ yr royt:.-n:-ag tlx candv^miniuot ar planned unit devedoprnent the b}'-laws and regulations of the
<br />amdvmiait~ yr planned unit tkwelapment, and caasiitium documents. If a rnndominium or planned unit development
<br />rider is e>udetaed bq Borrower atnd recYerded together with this Mongage, the covenants and agreements of such rider
<br />shall be inrnrpotated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
<br />woe a part hcr~v.
<br />T. Paeaoctlsn d I.endes's Stx+brigr. L Borrower fails to perform the covrnants and agrcemenrs contained ir. this
<br />jiiostpge, or if any actiom tx ptomeding is commeatxd which materially affects Leader's interest in the Property,
<br />itscltrtfiat, teat sea limited to, eminent damaia, iasolveacy, code enforccmeat or arrangements or proceedings involving a
<br />bankrupt ~ dtxedeat, rhea I.eatder ar Lmdds option, upon notice to Harrower, may make such appearances. duburse such
<br />mms and take mete action ffi is necessary to prwect i.enders mieresi, including, but not limited to, disbursement of
<br />reasoetahle attorney's fws sad sorry upon the Property to make repairs. if Lender required mortgage insurance as a
<br />oonditian of making the loan secured by this Mortgage, Borrower shall pay the premiums required to maintain such
<br />ittsuraarx is effect tmhl such flax as the tsgtraeraent for such insurance terminates in accordance with Borrower's and
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