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<br />Utvitantxtt Cnw~ea,mvrs. Borrower a[td Lender covenant and agree as follows:
<br />I. Payment of Prlnc:psl and IntrrtsR. Borrowtr shall prvmptly pay when der the principal of and inttresC 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 hdvaRCes secured by this Mortgage.
<br />2. P<'itnrls for Tacea and Yaatrranee. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to bender on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground trots on the Property, if any, plus one-twelfth of yearly premium installments for ha~.ard insurance,
<br />plus one-twelfth o' yearly premium installments for mortgage insurance, if any, ail as reasonably estimated initially and from
<br />time to time by Lender on the basis of assessments 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 shad 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 ctrifying and compiling said assessmens and bills, unless Lender pays Borrewer interest on the Funds and applicable law
<br />permits Leader to make such a charge. Borrower and Linder may agree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shalt be paid to Borrower, and unless such agreement is made or applicable law
<br />requires suet interest to be paid, Lender shall not ix required to pay Harrower any interest or earnings oa the Funds. Tinder
<br />shall give to Borrowtr, without charge, an annt:a! accounting of the Funds showing credits and debits to the Funds earl the
<br />` purpose for which each debit to the Funds was made. The Funds art pledged as 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 due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrowtr or credited to Borrower on monthly installmtnts of Funds. If the amount of the Funds
<br />held by Lrndtr shall not be sufficient to pay texts, assessments, insurance premiums and ground rents as they fall due,
<br />Horrowrr shall pay is Ltnder any amvunt necessary to make up [he deficiency within 30 days from the date notice is mailed
<br />by I,tnader to Borrower requesting payment thereof.
<br />Uport payment in full of alt sums secured by this Mortgage, Lender shall promptly refund to Borrowtr any Funds
<br />held by Lander. 1f under paragraph i8 hereof the Property is sold or the Property rs otherwise acquired by Lender, Ltnder
<br />shall apply, no later than immediately prior to the sale of the Property yr its acquisition by Lender, any Funds hcl.? by
<br />Lender at the time of application as a credit against the sums secured by this Mortgage.
<br />3. AppUratlon of Payraeob, Unless applicable law provides otherwise:, all payments rtccived by Ltnder under tt:e
<br />- --d pa,=ag~aphs 1 earl ' hereof shall bC applied by Lender itrst in payment of amounts payable to Lender 6y Horrowrr
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and thin to interest and
<br />principal an .s t: y. Future Advances.
<br />4. Cry I~r~ Borrowtr steal! pay alt taxes, assessments and other charges, firs and impositions auributab)r to
<br />he Prvperi} which tray attain a priority over this Mortgage, and Icasehold payments or ground rents, if any, in the manmsr
<br />provided under paragraph 2 hereof or. if not paid in such manner, by Borrower making paytntnt, wlxn due, directly to the
<br />payee thtrevf. Borrower shall promptly furtnsh to Lender esll notices of amounts due under chic paragraph, atxd is the event
<br />Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrvwer shall gromptly discharge any lien which has priority over this Mortgage: provided, that Borrower shalt not be
<br />required to discharge any such lien so long as Hvtrowtr shalt agree in wruing to the payment of the obligation securtM by
<br />such lien in a manner acceptable to Linder, or shall in gvod faith contest such lien by, or defend enforcem<m of such !im in,
<br />legal proceedings which operatr tc prevent the enforcement of the lien ur forfeiture of the Property er any part thereof.
<br />5. IY~zard Inaurewce. Harrower shall keep the improvements now existing or hereafter erected on the Property ensured
<br />against lass by free, hazards included within the term "extended coverage'", and such other hazards as Iitxkr may rexluirr
<br />and in such amvunu and for such periods as Lrndtr may require; provided, that Lrndtr shall nut reyuire that the aaxotrnt of
<br />such coverage, exceed that amount of coverage required to pay the lams secarcd by EtttS Mortgage.
<br />Tht in;ttraner carrier prvvsdiag the iasurance shalt be chvsra by Burrower subject to approver by Lander: providead,
<br />that such approval shall oat fit unreasonably wiihhafd. Ati premiums ten insurance policies shrill be paid in the manttrr
<br />prnvid~ uud?r paragraph 2 6trec+f or, if not paid in such maarnr, by Borrower making paytt~at, when due. dirsctty tv fist
<br />i-r~r_ttra=re ca~?'~=,
<br />S!l €rrss ra-!cce st:._zcits d =tts:wals tttCrec=:Fbali hC in fara+ ~-septnb~ to Lpn~r ant shill nz>t=~ a s~€•t rt:=rt
<br />t ire ta..xr ~:: a ., .. utter asict'r!ahrt +u 1-Crider. L,cnde:r ~haii bave iixr right ie~ hold ebe pvfie•it3 antic reatwals ti>€rt~,
<br />earl Borrower shalt rarvmvdv furaiah m Leader alt rrn~wat rua,.~ nd as r +r,e,~ _nr .,xvt . to et,. ,. .., ,,,f ~
<br />Borrowtr shah give pronxpt varlet tv lilt insurance carrier and tender. LenderEmay melee pr.*<+f of loos if nnE rn3dt promptly'
<br />by Bvrravier_
<br />Unless Lender and Barruwer othtrw:st agree in writing, insurance prneteds shall lie applied to rrstorativn or repair of
<br />iht Property ctamagtd, provided such restoration o: repair is economically ftasibir and the stxurity of this Mortgage is
<br />not thtrtby impa[red. II ss:zh restoranan or report is not economically feasible or et the secunty of thrs Morigagt would
<br />be emparred, the insuraner prtn:eeds shall be applied to the sums secured by this Mortgage, with the ~+ccess, if any, paid
<br />t=s Hvtrowtr- if the Proptny is abandvned by Burrower, or it Borrowtr falls to respond to Ltnder within 30 trays ttxst the
<br />date notice ss mailed by Lrndtr to Horrowrr that the insuraner carrier otYcrs w srtttt a claim for insuraner benefits, I.tntirr
<br />is auLhorizetl to cul{ect and apply the insurance protieds ut l.endtr's option tithtr 3n ressivration or repair of the Property
<br />or to the sums ariurrd try this MortgagC.
<br />Llnlrss t.cnder and Horrowrr othzt'~visr agree in writing, any such application of pn>Lrrds to prern:rpal shall a.°+t extend
<br />yr lwstnonn the due datN ._,t eh_, m+.+mhl}' installments rrfrrred !e+ irs paragraphs l oast ? hrrtaf ur chaos. t:~~, ansvurtE ,xf
<br />such installttnts. If under paragraph tg htrtof the Prvprrt}' is acyuired by Ltnder, ail right, title and inttrtst of Burrower
<br />in utxd to any insurance„ polrears and in anti to the proceeds thrrtof resulting from damage to the Property peel+r to ttsr sale
<br />sir ac,c3aisttian shad pas, to Leader to the rctca:t of the corns stcuretl F}- ttsiz ftic,rigagr. iatmtdiarrly prior to- ,secs, lair or
<br />ncquisitivn.
<br />6. Rraaer•rrrdoa axsd is9ai4tenanr,e of Property; Ltttadtolels; ~vadomiuia~t 1'4sntsrd UaB tkvelvnmenis. tsarrnwtr
<br />shall ktrp the Property in garxi repair and shall oat commit waste ur parmrt impairment ar dttrriorativn of the Property
<br />and shall cvmply with the peovisions vt any oast rt' thrs Mongagc rs on a lrasrhold. tt thrs Murtttaae rs on a unit m a
<br />cavervminiuat yr a planntsi unit tkveivpnttru, Borrower shalt ptriortu alt of HorrowtF s nttliibaUansiuntirr ~hC dtc•furariort
<br />nr c3xrsxanio cr~ti:.g ur a vtrn:ng the vvt:Iastttrtur. or planned unit dv°vrlcspgtcnt, it•.c by-laws ;sad ragulatKras of tiro
<br />tt+ndomhtium or plantxtd utait dCVtlopmrut, and r:unstituent iactrmCVt.. !f a conciominitrttt or planned ttnrr dtvrtopateat
<br />rider is ex~:utcd by Hormwer aril rtcarrled tvgtther with this Mortgage. the covrrxants attd agrrrmtats vt such rsdtr
<br />.shall tit ineo.~pvrated tutu and sha-I anttnd and supplemtat fist cavrttants avd agrettncnts of fhix Mvrtyage as if the rutty'
<br />were a part hereof.
<br />'f. Itrreslecllon trf I.etatLa~a Hec>~tr. If Burrower faits to perfnrnx tlfe eovertaats and agre~mrnts c~+atairtrd to ehas
<br />Mortgage, or if any action or proeerding is ceamtnenctd which materially affects Lender's interest in thr Paperty.
<br />including, but nut limited tn, tmirreru domain, insolvency, code tnfanxment, or arrangtmtnts yr proceedings involving a
<br />isankxupt or decadent, then Leader at Lender's option, upon aatis-c to Borrowtr, may make such appearances, disburse such
<br />seurss and take such active as is rtacesaary to pr~tteet Lender's interest, incluuing, but not limited to, dishucsrtticn[ i+f
<br />reMasr;itabtt attarirey's fCts and rate upon ihr Property to make repairs. if Ltvdee required mortgagt insurance as a
<br />condition of making the lawn sC.:urYd 'sy this Mvrtgtxge, Borrower shall pay the premiums required to maintain Such
<br />insuraner in rHtxt unpl such time as tree tequirrtneat for such insurance terminates in accordance with Bormwer's and
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