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<br />;f;+c:'ar'k:iu73i~~ l;:;r~t~n~,;r~1v,N~t";. Bt>rravrr:r and Leicudz:r ctau~,sna~~°It atu~ci agree. as fc;'cis:
<br />L.. ll~tal'nri?+p,tpt r'uV' Prhtel~ aad Lmteres~t. IJVanr=ciaa~eur' ~iw:dl pruarxtptl~- ip~t a~het¢ dtue. this pt=i~a:'ilnarV of and in¢i:use:.t' e;,ell rite
<br />IurLnifitwLta,ii!cr tra iu'u'idttau:tad hilt, tJh;t Note, IvrepayutU~rat acrsd Illate t.l~,~al,ttu.s a,s pr,cuvidY;tl ara~ l:lc ral,ia'txr„ atnrl 1,iae principal of annti iintei:a,t
<br />,.cx a,:y , utt::z Advances secured by tits hfGr?gage.
<br />~. F`s~n+,ls for Taxes amt f~ttrarrce, Subect to appiicat;le taw• or to a written waiver by Lender, B~'trrower shall ray
<br />to Lender on the da}~ mnnthlp installments of principal and interest zre pa-yahle under the Note, until the'~;ote is paid in full,
<br />a sum :herein "Funds") equal to one-twelfth of the yearly [axes and assessments whirl: may attain priority over this
<br />Alortgagc~ and zround rents an the Progrrty, if any, plus one-twelfth of yearly premtttm installments for hazard insurance.
<br />plus erne-?aelf?h of yearly premium installments for mortgage insurance. if any- all as reasonably estimated initially and from
<br />time to tithe by Lender an Lhe basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shalt Ix held in an institution the deposits or accounts of which are insured or guaranteed by a Federal ar
<br />sYatr. ag~r=iy ii nctuding Lender if Lender is such an institution'?. Lender shall apply the Funds io pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge for sa holding and applying the Funds, analyzing said acccunt,
<br />or `+'erif}trig and compiling said assessments and bills, unless Lender pays Borrower interest en Ilse Funds and applicable law
<br />permits Lend.:r 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 />requirzs such inttres-t to be 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 Gf the Funds showing credit; and debits to the Funds and the
<br />purpwse far whir?: each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />'by ibis ~Sartgage.
<br />Lf the amount of the Funds held by Lender. together with the future monthly installments of Funds payable prior to
<br />?h~_ 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 oe, at Borrower's oprion, either
<br />promptly repaid to Borrower of credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall not be sufttcient to pay taxes, assessments, insurance premiums and ground rents as they fall due.
<br />Borrower shall pay io Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to BGrrower requesting payment thereof.
<br />Upon payment in fuII o€ all sums secured by this Mortgage. i.ender shall promptly refund to Borrower any runes
<br />held by Lender. If under paragraph 18 hereof the Property is sold or the Property is otherwise acgwred by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held b•
<br />Lender at the time of application as a credit against the sums secured by this Mortgage.
<br />3. APglit~ lvn of Payments. Unless applicable law provides otherwise, alt payments received by Lender under the
<br />Nnte ant paragt~arshs 1 nxi ? hrtvnf shall be ~ppli>d by I .,..stet fi~ m payme of a.T.a payable L°.^.de. by ~rraw
<br />wader paragraph 2 her of, 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; LLens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
<br />€he Property which may attain a priority over this Mortgage, and leasehold payments or ground rents. if any, in the mantxr
<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 shall promptly furnish to Lender all notices of amounts due under this paragraph, atxi in the event
<br />Borrower shall make payment directly, Borrower shall promptly fumish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge 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 shall agree in writing to the payment of the obligation secured by
<br />sxh lien in a manner acc~ptahie to Lender, or shall in good faith contest such lien by, Gr defend enforce; tent of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any patt thereof.
<br />5. ]Hazard Itmttranct. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br />and in such amounts and far such periods as Lender may require; provided, that Lender shaft rot require that the amount of
<br />such coverage exceed that amount of coverage required Lo pay the sums secured by this Mortgage.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided,
<br />That such approval shalt not be unreasonably wi?hheld. All premiums on insurance policies shalt be paid in *.he manner
<br />provided under paragraph 2 hereof or, if net paid in such manner, by Borrower making payment, when dtte, directly to the
<br />r1s`1 ittsuranct ~Ficie-s 3u<~ rtncwa_ic thereof steal! be in form aeceptab}= to Lender and st*=il irzl~~~ a standard mertga~`e
<br />clause irz feVGe of and in faint acceptable to Cohost- I.endcr shalt have the right tG hold tits policies and rettewais thereof,
<br />anti Rnrrnwi~r shall n n~lv f~rnich to [.,,nn.~or all r~„~-_at ,~ ;t.i at1 ;w..- ..f .,~i.t .. ,,,_y, ~_, [n tM ~-„nt ~F 1 we
<br />ILorrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of Foss if riot made promptly
<br />by Borrower.
<br />Unless Lender and Bo;rower otherwise agree in writing, insurance proceeds shat! ~ applied to restoration or repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the securit}' of this Mortgage is
<br />not thereby impaired. If such restoration or repair is not 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, patd
<br />to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender wtthin 30 days from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a cI-aim for insurance benefits, I-ender
<br />is authoriztd to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or to the sums secured by this Mo,-tgags.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of preueeds to princtpal shall hat extend
<br />or posiporie the due date of Yhc maaihiy inseaiiments referred to in paragraphs i and r hereof or change Cite amount of
<br />such installments, If under paragraph t8 hereof the Property is acquired by Lender, all right, title and interest of BGrrower
<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 shall pass to Lander to the extent of the sums secured by this Mortgage immediately prior to sec`: sate or
<br />acquisition.
<br />6. Preservation and ;liaintetaauee of Property; Leaseholds; Condominiums; Planned Unit pevetapments. Borrower
<br />shalt keep the Property in good repair and shall not commit waste or permit impairment or deteriaratian of the Property
<br />any sh~tl cntnply .:v:.ti tf~ pr-^-vis,ons o€ a^y It^° if this Merigage is on a leasehold. If tt:is l~icstgag- =.s on a unit &n a
<br />condominium or a pianred unit develGltment, Borrower shat! perform al! of Borrower's obligations under the declaratiar.
<br />or covenants ceearing ar governing the condominium or planned unit development, the by-}aws and regulations of the
<br />condominium or planned unit development, and constituent documents. If 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 />shag he incorporated into and shaft amend and supplemem the covenants and agreements of this Mortgage as if the rider
<br />were a part hereof.
<br />7. Pr~ection of Ti.e#deP`s cxc~Hy. If Borrower fails to perfann the covenants and agreements contained in this
<br />Mortgage, or if any action or proceeding is commenced which materially affects Lender's interest in the Property,
<br />including, but not Limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
<br />bkttkrtapt or dect~tent, then Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such
<br />sttats and take such action as is necess•,ry to protect Lender's interest, including, but not limited to, disbursement of
<br />raasenable attotztey's fees and entry upon the Property to make repairs. If Lender required mortgage insurance as a
<br />co;,dition of makiaffi fh~° loan x.:u=mod by this 'h`,aYga~, ;3trower shall pay the premiums required to maintain such
<br />i>tsttrance -in sliest -wilt suet Yit~ as she requiY'e~ne for sueh insieraetce Terminates in accordance with Borrower's and
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