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<br />,;nt'~fa ~ f ~vFr:.,,f:T~a. R$arra;ae'r and Lander rr~'~~ene~~nt and agrt:e ;a~, Folro,~,c.:
<br />A. Payment al` Priac,ipaii aad In!Oerest. fiat nw~er sI•!!al! prctn!pt9} l Fly 7m~hen d,ue the larir~cipctt r f and irirer~at c+n the
<br />~-rle~rtedr,¢a: evidenr~d by 2lte :^to2e. prt~.payrrn;rat an!d late charger°° as p-ravided ;^ tine Nv.~. and tl~.e, pri,t~ipal of .;and i„t::cs€
<br />an any Future Advances serure~d by this Mortgage.
<br />E. cx d~° tar Tangy and liasaranee. Subject to applicable taw er is a urren u°aiver by l.erider. Harrower <hail pay
<br />to Lender an Yi`te day manfhly installments of principal and interest arc payable under the ?Mato, until the Nair is paid in full.
<br />a su.:. {herein "Funds") equal Eo one-iwe!hl: of 2he yearly taxes and assessr..ents which may attain priority aver this
<br />hfartgage, and ground rents an the Froperty, if any, plus one-twelfth of yearly premium installments far hazard insurance,
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any; all as reasonabt}• estimated initially and from
<br />lime to time by Lender on the basis of assessments and bills and reasanab!e estimates thereof.
<br />The Funds shall be held in an ir,=_titution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agent; {including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and graund reins. Lender may net charge for sa 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 Lender may agree ir, 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 applit:ablt law
<br />requires such interest to be paid, Lender shall not be required to pay Harrower any interest or earnings on the Funds. Lender
<br />shall give fo Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as addi:ionat secarit7 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 20
<br />the due dates of taxes, assessments, insurance premiums and graund 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 !a Harrower ar credited to Borrower an monthly installments of Funds. If the amount of 2he Funds
<br />held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fal' due,
<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 full of 81! 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, ..^.o later tF;an immediately prier to the sale of the Property or its acquisition by Ixnder, any Funds held by
<br />Lender at tttz :line et application as a credit against the sums secured by this Mortgage.
<br />3. Applicailon of PavmeaEs. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs 1 aad 2 hereof shall be applied by Lender first in pa}mtent of amounts payable to Lender by Borrower
<br />..er par-- - - - tber, t~ inieres paya`oie an the ivoie, then io the principal of the Note, and Then fo interest and
<br />principal an~an}~ Future Advances.
<br />"a. iChtugss; I3ee~. Harrower shall pay alt taxes, assessments and other charges, fines and impositions attributable to
<br />the Property whichtt.ay attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manner
<br />provided tinder paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />payee thereof. i3orrawer shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the evens
<br />Horrowet shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Harrower shalE promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shall net be
<br />required to discharge any such lien so long as Borrower shall agrzr_ in writing to the payment of the abiigation secured by
<br />stxh lien in a manner acceptable to Lender, or shall in good faith comes[ such lien by, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent 2he enforcement of the Tien or fodeiwre of the Property or any part thereof.
<br />5. Hazard lasuraatx. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />againse loss by fire, hazazds included within the term "extended coverage", and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may require; provided, chat Lender shall not require that the amount of
<br />Bach coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
<br />The insurance cazrier providing the insurancex steal! I•c chosen by Barrawer subvert to approval by Lender; provided,
<br />that such approval shall not be unreasonably withheld. All premiums on insurance policies shalt be paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, whrn due, directly to the
<br />insutanca carrier.
<br />All insuraetce j,C:licia°,3 and tone°wals tl;er~af s -e. ~ ir, farm acceptable io Lender a-- - -„ include a standard moriga~
<br />clause in favor of and in fa,:it ac ~p2able to Ler~° . L;, rider shall have rho righ .a haldi t i -t=al•:cios grid re .ovals tlt2reof.
<br />and Fsarrawe-r steals promptly ft=.rnish to Lender alt renewal natives and a!! receipts at paid premiums. In rho event of lass,
<br />Harrancr she" = .,.,,...a .o the i.;~.,,A„tom sarr,tr an., Lancer. ~~nU~r „ -, ..~.~ ~ - R,r ~. ,asp .r rat made pr:,m~ ly
<br />by Harrower, ~~
<br />Unless Lender and ;wreawet otheru°ise agree in writing, insurance proceeds shall be applied to restoration ar repair of
<br />the Property damaged, provided such restoration or repair is economically feasible and the security 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, paid
<br />to Borrower If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
<br />data native is mailed by Lender to Borrower that the insurance carrier oilers to settle a claim for insurance benefits, Lender
<br />is authorized 20 collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or to the sutras secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of prxeeds to principal shall net extend
<br />ar postpone the due date of the monthly installments referred to in paragraphs i and 2 hereof or change the amount of
<br />such instaiimenis. if under paragraph i8 hereof the Properly is acquired by Lender, alt right, title and interest of Borrower
<br />in and eo any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acquisition shad pass to Lender to [he extent of the sums secured by this Mortgage immediatety prior to such sale or
<br />aCgnlSitlon.
<br />6. Prtservatiaa and Mtxintettance of property; l.caschoids; Condominiurnst Planned Unit Developments. Borrower
<br />shat! keep the Property in goad repair and shall not commit waste or permit impairment or deterioration of the Property
<br />and steal! comply with the provisions of any lease if this Mortgage is an a leasehold. If this Mortgage is on a unit in a
<br />e~w=?o:;;snir,=n ar a piattttfd unit dcvr!opt2;ont, Borrower sf:al! vrform all of BarrowYr's obligations under th4 dnlaratian
<br />ar cavenaais creating ar gaverring the condominium ar planned unit development, the by-taws and regulations of the
<br />candomrnium or piantred unit development, and constituent documents. If a condominium or planned trait developrent
<br />rider is executed by Borrower and recorded together with this Mortgage, the cavenanu and agreements of such rider
<br />shall be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
<br />were a part hereof.
<br />7. Protes#iea of F.etader's 5eeerity. 1€ Harrower faits to perform 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 io, eminent .iomain, insolvency, code enforcement, or azrangements or proceedings involving a
<br />bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such
<br />sutras and take such aetian as is necessary to protect Lendei s interest, including, but not limited to, disbursement of
<br />reasonat~le attorney's fees and entry upon the Property to make repairs. If Lender required mortgage insurance as a
<br />condition of making the loan secured by this Mortgage, Borrower shall pay the premiums required to maintain such
<br />insurance it Affect un I such t,me as the requircrenf for such insurance terminates in accordance with Borrower s and
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