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<br />UMFQriM Cov[:x:tnt~s. Borrower and Lender covenant and agree as fellows:
<br />I. Payment oI Paendpat and Interest. Borrcwer shall promptly pay when due the principal of and interest on the
<br />indebtedness evid~tred 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. Fends foe Taaes and Insurance. Subject to applicable law or to a written waiver by Lender, Bortower shad pap
<br />to Lcuder oa the dap monthly installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />~ a sum (herein "Funds") eyual 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 say, alt as reasonably estimated initially and from
<br />ti•rte to time by Lender on iL+¢ basis of assessments and bills and reasonable estimates thereof.
<br />Qq' "Ihe Fumy shall 6¢ held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />~ state agency tincluding Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments,
<br />insurance 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 Lender pays Borrower interest on the Funds and applicable law
<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 shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to b¢ paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to tie Funds and the
<br />purpose ter which each debit to the Funds was made. The Funds are pledged as additional security far the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender, toge[her with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shalt exceed the amount required to pay ssid taxes.
<br />assessments, insurance premiums and ground rents as they tall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower of credited to Borrower on monthly installments of Funds. If the amount of the lends
<br />held by Lender shall eat be sufftcient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 3B days from the date notice is mallet
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in fall <af al! sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />held by Icndu If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender. Lender
<br />shall apply, r,o ia[cr than immediately prior to the sate of the Property ar its acquisition by Lender, any Funds held by
<br />J.ender at the time at application as a credit against the sums se[;urcd by this Mortgage.
<br />~. d.,~ptkatlou of I'aytmeMa. Unless applicable taw provides otherwise, all payments received by I.rnder under tare
<br />Nate and paragraphs 1 and 2 hercot shall be applied by Lender ftrst in payment of amounts payable to Lender by Borrower
<br />under paragraph '_ heneo[, then to interest payable on the Nate, then to the principal of the Note, and then to interest and
<br />principal an any Future Advances.
<br />+[. Chaeges; I~e~as. Harrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
<br />t2te Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manner
<br />prasdded cinder paragraph 2 hereof or, if not paid in such manner, by Borrower making payrnem, w}rcta date, dirccUy to the
<br />payer. thet~eaf. Borrower shall promptly furnish to Lender all notices rat amounts due under this paragraph, and itt the event
<br />Horrowxr shall make payment directly, Borrower shall promptly furnish to Lender receipts evide~ing such payments.
<br />Borrower shrtll promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shall nett lx
<br />required r4 dix barge any stu:h lsen so long as Borrcwer shall ages in writing to ih¢ payment of the obligation s¢cu[esl by
<br />s#a:-h lien in a manrtet aec~ptabie to I-ender. or shall in good faith contest such lien by, or defend enforcement oC atsch kiett in,
<br />Irgal prace¢dings which operate to prevent the enforcement of the lien or forfeiwrc of the Property or any part thereof.
<br />5. Avsnl Iwuarawc¢. Borrower shall keep the improvements now existing or hereafter erected on the Property iruurcd
<br />against loss by fire, hazatda included within the rerm "ex[emied coverage", and such other haxat.ks as Ixrxfer may require
<br />acrd in xtscft atrsounrs and for such periods as Lrt.der may require; provided, shat Lender ihalE s, t reruir¢ that ttte =.'nc=str,3 of
<br />such c~;r~rri rx_ tfi=€ ar.;,~.:t;t c-f 4=ere requir~3 o fay the sterns s~urcd by ties M•,r•,gs-
<br />"fh¢ insttrrutcr:-carrtrr providing tine insurans-c shallEb¢ chosen by Borrower subjc~t to approval by Lsnd¢r; provid¢tl.
<br />that such approve! shalt not tx unreasonably withheld. Ali premiums on insueanc¢ pelisses shall ba paid in the manner
<br />pr€[vide€t ur[tkr paragralel[ :'.Rr¢nf ar, of rasa pat,+. in StrCh marttter. by BcarrowEr tnakittg patm¢nc what? ate, siin~-tIy to tits
<br />~n~~r~_~-_s e~rri~r.
<br />Ali insttranec ptHici~ and renewals [ttvrraf sisall 15r rn form accep[sblc to I.er[ck;r cell -shall = ~.9us1c ;; standard sttor[gay_
<br />:::°~, ,~ fav ,. ~.~ .., , ,. ~.Y~ ~.~ tt :~ .ter. to ~ r na.r ~ _ = e~ - w a _ ~~ - - ~.:
<br />a~ ~~.r-- -~e:~ll i~_ ~,s::~L.~ =rt rrnrsv~iYtt~~ a~S aB p:~ t !id urEnuurr,- Ira €?[¢ event of Ip~:
<br />Borrower shall give prompt notice to tthe insurance carrier and l..¢nder. Lander may make pr[wt of loss ii not made promptly
<br />by Borrower.
<br />Unlers Lender and Borrower oih¢rwtse agree in writing, insurance prac:eeds shall be applied to restoration or repair of
<br />the Property aamaged, provided sash rcstoraunn or repair is er:onomically feasible and the sc~s:urity of this Mor[gat;e is
<br />not thereby impaired. !t suers restoration ar repatr is not ewnamically frasibk ar rf the seeuntt of dsss Mortgage wautd
<br />be impaired, the inauraurte prc>,ceds shall b¢ applied to the sums secured by this Mortgage, with the txccss, if env, paid
<br />to Borrower. Il the Pruper[y rs abarr<foned bt Borrower, or rt Borrowwer tails to respond to Lemfer within 3G days from the
<br />date ttaticr is rnailyd by L¢nlet to Harrower that she ituuraexe carrier efIen to settle a claim for irtaurarttr beneti(s; Lender
<br />is autharix¢d to stillest and apply tt~ utsurance proceeds aE Lendee's option either to ttstoratiau or repair r.~t the Pnagert}
<br />or to the sunti secured by this MvrtgaRr.
<br />Unless Lender ind Harrower a[hetwise agree: rn wrrung. any ssxh application of prcxreds to prtsurpai shah neat c.xecna'
<br />ar ]wsapcsrsr the du, date of the mtmthh~ instaitmenrs refereed to in paragraphs I .snd =? h¢reaf ar change the anwunt ut
<br />=[~h tttrtallrncnts. !t under paragraph tai Iterrraf nc~ Irruperty ec acqusrrd by Lutdrt, all tight, [irk and interest ist Borrower
<br />its a!td to acre' insu€artxe palu:tes atsd ns arsd to the prxeects ltu:rect rrsultrnt~ from dansage to the Property prior tai the sale
<br />ur acyuiattiora shall pass to Lender [o the r>,tent of [hr :.ants +r cured b}' this Murtgagt uunredsately prior to s[rc:h sak ar
<br />acquisition.
<br />d. Prairrra[iaea anB Madrtrnatsre of Property; [.eerrhalrls Condomintuau, PlannaA t)u!t Ilkretsr'trpaaM4. Burrower
<br />= n ~ ~,-, .3 ~ ~_~ ~~~~''~- _ - - ~-nr~ -.~t€ €3r ~ €3t__-- t__sl=p~'S3:t-F!t ;~i' `~t~~""~~'.'nf"~-_1 f)t Pfs2L~_*EY
<br />attst air:alt vvcisply w-trh [ .e' pr.;vi,t[,,.3 ut .n} I~asc~t[ tlte~ Mes<tgaga is a=tt a lta~hald. tf this ~tar[aage ~ on a trait to a
<br />t:crndununiu€n car a plartnexl unit clevetopmen[, Hot€awer shall pretr.:rm ail of Borrower's tsbltYati+.snr utsder tt-~ d¢~:iara[ton
<br />r>r asv¢nanta creaUtzg car gavernsng tltt cond~mtnium o€ planned trait developtrt¢nt, the bylaws and reg[rlatinns of ttse
<br />~a[tn rest plantrad unit development, and cansti[ucnt dskut[trnts- If a cundaminium or pkannrd unit draeiaptncnt
<br />elder [s exasuteti by Borrower and recorded together wuh [has Mortgage, the covenants and ngrcemrnts of such nder
<br />.- stroll 1x incor~rated into and shall arn¢md and supptrtnent t1~ ceve;ttants and agr+iemenes of flits Mortgage ax tt the riakr
<br />.. e a part herecd'.
<br />7. Prutaclbra tat( I,a~er'a Seeari'y. 3f Harrower Earls to perform the covenants and agreemrnta earttaitsed m this
<br />Mertga&e, or if any ac[iott or prc>tnsdin}t is commrrn^ed whtc;h matoriatiy all¢cis Lender's mterca[ in the Property.
<br />including, Hut eat litnit¢d ta, eminent domain, inststvency, c[tdc enfurcem¢nt. or arrangesncnts or prescieedings mvalving n
<br />bankrupt or decedent, then Lender at Lender's aptiex+t, apo[t nn~tica to Bnrn•wer, may make such app¢arancrs, distsursr xtsch
<br />sums attd 4ske su,.ts aciicut as is tt~essat'y W pristcs:t l.,ender's tnteresT. including, bu[ no[ limned to, disbursement aC
<br />ien`av:sa.`.l¢ atitt.~y's f ~s a.° : entry up~st is ~ P:,arty t make rc,-air;. It f_a:rf¢r required mc+.~tga~ i_.s~~ranes a_t a
<br />uonslitiran of raa;ti[sg ih¢ Is'+a-,n ~:nrc~l by this ni4rig«gr. Borruw~r shall pay the prrtnitstns required to maintain such
<br />iratMan~~ tt[ t~~t until such ti~ae as the r¢quir¢T~nt f¢r such insurance terminates in accordance with Borrower's acrd
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