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z *~ ~ :~ ,r C`,rp ~ r.^~rt's 13otrri;a~ee ntJ f.t rill n t,", t,rtc t n~ agea'e t f' u'9n; .i s
<br />? 1Fa>V'tmattat of Frittm`ipae ntttf Irttirrttesit ISrn rttiwni shall p,ompttli+ prs uulh n die eiie p rttcipatl tar strttd inlun ,n~ fll'~ir„„,
<br />indebt_dness s„sriticn_ed 67r hs ',d'sattu,, iptt_pm,rymr.,uaik <otid 3atle c.R~;,rge•€ as p.ura rt.:d ni r..,e 'tioutte. ,uia.l the 1+rrncopaaE at .izad tnttstierum
<br />an any Future Advances styured by this Mortgage.
<br />~. Fungi fas Feces attd Irssuranse- Sub;ect to applicable law or to a ~wrtter, waiver by Ler~r, Borrower shall pay
<br />to Linder an t`s.e d;,y monthly installments of principal and interest are payable under the Note. unfit the Note rs paid in full,
<br />a cam !herein "Funds") equal to one-twelfth of the yearly taxes and assessmet3~s which may attain priority over this
<br />`/ Mcregage, and ground rents an the Property. if any, plus sae-iweifth of ;early premium irstalfinents for hazard insurance,
<br />C7S plus one-twelfth of yearly premium installments for mortgage insurance. if any. elf as reasonably estimated initially and from
<br />~ nme to- time by Lender on ehe basis of assessments and bills and reasonable estimates thereof.
<br />Tre Farads shrill be held in an institution ?he deposits or accounts of wrier arernsured or euaranteed by a Faderat or
<br />state agestc. (inelutling Lander if Lender is such an institution). tender 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 />ar 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 Lander may agree in writing at the time of execution of this
<br />Mortgage that interest en the Funds shall be paid to Borrower, and unless such ag:~emem is made or applicable law
<br />requir~.s such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. [:;nder
<br />shall give to Borrower, without charge, an annual accounting of the Funds shawin~ credits and debits to the Funds and the
<br />purse for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender, rogethet with the future monthly installments of Funds payable prier to
<br />the due do^. ^f t..° ,,.., °.. urar.,,e premiums --d ground ren.~, hall e:,ceed the aniaunt required is pa-y said taxes,
<br />assessments,~insurance premiums and ground rents as°they fall due, such excess shall be, at 5orrower's option, either
<br />promptly repaid to Borrower or credited to Barrowe: on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shalt not be sufficient to pay taxes, assessments, insurance premiums and ground reran as they fail doe.
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in £ulf of all sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later [Iran immediately prior to the sale of the Property or its acquisition by Lander, any Funds held by
<br />Lender at the tithe of application as a credit against the sums secured by this Mortgage.
<br />3. ,4pplicatian of Payments. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs 1 and Z Hereof shall he applied by Lender first in pay_tnent o£ amounts payable to r ender by Rorrow•er
<br />under paragraph 2. hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Charges; Liens. Borrower shat! pay all taxes, assessments and other charges, fines and impositions ateributa6le to
<br />the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shalt promptly furnish to Lender all notices of amounts due under this paragraph. and in the event
<br />Borrower shall make payment directly, Borrower shall promptly fumish to Lender receip±s evidencing such payments.
<br />Borrower shall promptly dischazge any lien which has priority over this Mortgage; provided. that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shalt agree in writing to the payment of the obiiga#ion secured by
<br />.^h he.^^, v o„ ° ceeptable to Lend^_ ° °hall ° ;goad faYh - , ~~ ` licr,`,q, ar defend enforement a. such 1`en
<br />legal proceedings which operate to prevent the enforcement of the~liea artforfeiture of the Property or anyLpart thereof
<br />5. hazard Ittsuranre. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss 6y fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br />gad in such amounts and for such periods as Lender may require; provided, thax Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
<br />The insurance carrier providing tre insurance shall be chosen by Borrower subject to approval by Lender, provided.
<br />that such approval shall not be unreasanabiy withheld. All premiums on insurance policies shall be paid in ehe manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />insur.Lece carrier.
<br />ell insurance policies and renewals thereof shall be in term acceptable to Lender and shalt include a standard mortgage
<br />- £a:., °nd in £arm a.:,epiable #o Lender. Lender shall rave the right to bald the policies and renewals trereaf,
<br />and $onrower~shall promptly furnish to Lender all renewal naticec and all reC&ipts sf paid nreminms_ in the event of lace;
<br />Borrower shaft give prompt notice ie the insurance carrier and Lender Lender may make proof of loss if not made promptly
<br />by zarrawer.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration ar repair of
<br />ehe Property damaged, provided such restoration or repair is economically feasibte and the security of this Mortgage is
<br />not thereby impaired. If suer restoration or repair is no: economically feasible or if the security of this Mortgage would
<br />be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid
<br />fa Borrower. If the Property is abandoned by Borrower, or if Barrawer fails so respard o Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier offers to settler claim for insurance benefits, Lender
<br />is authorrztd to wllect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />ar to the sums secured by [his biartgage.
<br />Ltnless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />ar postpone the doe date of the: tnon[hlvsnstallments referred to in paza2raphs 1 and 2 hereof or change tre amount of
<br />such installments. If under paragraph 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acquisition stall pass to Lender to the ex[em o£ the aunts secured ry this Mortgage immediately prior to such sale or
<br />acquisition,
<br />6. Preservation and Riaintenance of Property; Leaseholds; Coed®miniums; Planned Unit Derebpments. Borrower
<br />shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property
<br />and shall comely with the nrnvisiotts of any lasso if' this Mortgage is on a leasehold. !f this M~rtgagets en a unit in a
<br />condominium or a planned unit development, Borrower stall perform sit of Borrower's abhgations under the declaration
<br />or covenants creating or governing tfre condominium or planned unit development, the by-laws and regulations of the
<br />condominium or planned unit development, and constituent documents. It a condominium or planned unit development
<br />rider is executed by Borrower and recorded together with this Mortgage, the covenants and agreements of such rider
<br />shall be inootporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
<br />were a part hereof.
<br />?. ;Pr~¢et2es -ref I.e~er's ^s~eurity. If Stxtower fails to perform the covenants and agreements wntained in ibis
<br />Mortgage, or if any action or proceeding is commenced which materially affects Lender's interest in the Property,
<br />iac}ttding, but pat limited to, eminent der; gin, insolvency, code enforcement, or azrangements or proceedings involving a
<br />@snkrupt or decedeat, than Lendor at Lender's option, upon notice to Borrower, may make such appearances, disburse suer
<br />sums and take sash genera as is necessary to protect Lenders interest, including, but not limited ea, disbursement of
<br />reasonab?e attamey's fens and entry upon the Properly to make repairs. If Lender required mortgage insurance as a
<br />condition of mak=ng the loan sp~r!red by Lis 11AOttgzge, Barrawer shat! pay the premiums required to maintain such
<br />insttr°,~.^°. in effect un*.it s.teh *».^te a., the :..quiretnent far suchtnsurance terminates in accordance with Borrower's and
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