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<br />LII';rwty"~^>la~., C2av~r~,~~yw'rs. y+i3rrtvx~r ~7~d~ L~iwt~d~r~ het:~M~i»ti~a,^uit arnu# -s~k€~ as faiotu,c~riw~s~~.
<br />1. ~'a-rtneaz of I"rir[c3fral a»d Intetx~st. Itlvrrcwer stroll promptly pay '4+'ltert iue the principal rrf' artd in+arext an tilt
<br />intl.-bted..ess °=idenced by the Nate, prepayment and laze charges as pravid„I ;....,: '+ote, and the principal of and intetw>.
<br />on as;y ~Ct+fur? ~d=.~,ce> 3ez-urc~: by leis Mo :gam.
<br />Z, 1F'unds for Taxes and Incnrance, Subject to applicable law er 2a a written waiver by Lender, Barrowt;s snail pay
<br />to Lena: an the day monthly instalL~rents of principal acrd interest a:e payable under the Note, until the Nou is paid in full,
<br />a sum f.erein "Funds"} equal to one-twelfth of the yearly taxes and assessmens which may attain priority over this
<br />Aorgage, and grt;urd rents on the Property, if any. plus one-twelfth of yearly premium instalments for hazard insuratce,
<br />plus one-iuelftb of yearly premium installments for mortgage insurance, if any, alt as reasonably estimated initially and from
<br />rme to time b'. Lender or. the basis of assessments and bilk and reasar.able estimates rbereef.
<br />-I;zr Funds shall ~ old in an ir,stiz.[tian the depasi~ or accounts of which are insured or gitaranteed by a Federal or
<br />state agency !including Lender if Lender is such an intitutian;. Lender shall apply the Funds to pay said taxes; assessments,
<br />ituur.:nce premiums and ground rents. Lender may not charge far so holding and applying the Funds, analyzing said act:ount,
<br />or verifying and compiling said assessments an3 bills, unless Lender pays Harrower intones: on the Ftmds and applicable Saw
<br />permits Lender to make such a charge. Borrower ant: 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 />n_quir~ such interest to be paid, Lender shall not be required :o pay Borrower any interest or earnings on the Funds. Lender
<br />shall give 20 Borrower, witheu[ charge. an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit ze the Funds was made. The Funds are pledged as additional security for the sums secured
<br />by this ?tiartgage.
<br />If the amount of the Funds held by Lender, together wiffi the future monthly installments of Funds payable prior to
<br />khe duo dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessmeats. insurance premiums and ground rents as they fall due, such excess shat] be, at Borrower's option, either
<br />promptly repaid to Borrower ar credited to Borrower on monthly installments of Funds. Ii the amount of the Furt is
<br />held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall clue.
<br />Borroarer shall pap to Lender any amount necessary to make up the defidency within 30 days from the date notice is mailed
<br />by Lender to $armwcr requ_sting payment thereof.
<br />Upon payrraeut in full of all sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />held by Lender. ii under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shat' apply, no lacer than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Lender at the time of apglication as a credit against the sums secured 6y this Mortgage.
<br />3. %egrLSCatlon of Paymends. Unless appiit:ab%e taw provides otherwise, ail payrrtenis received by Lender under t
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under pazagraph 2 hereof, then is interest payable on the Note, then to the principal of the Nate, and then to interest and
<br />principal on any Future Advances.
<br />4. Charges; liens. Borrower shall pay all taxes, assessments aad other charges, fines and impositions attributable to
<br />the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manner
<br />grovided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />payee thereof. Lorrower shalt promptly furnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borrower shall promptly fumish to Lender receipts evidencing such payments.
<br />$errouer shall promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shall not be
<br />requtred to diuharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, ar shall in good faith contest such lien by, or defend enforcement of such lion in,
<br />Legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5. Liazart9lssurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />againsiloss by 5re, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br />and in such amounts =rzd far such periods as Leader may require; provided, that Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage reouired to 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 shall not be unreasonably withheld. Alt premiums on insurance policies shall be paid in the manner
<br />provides; under paragraph 2 i,er~trf or. if not paid in such manner, by Barower making payment, when due, directly to inn
<br />insurarn--z ;a,.;er.
<br />All insurance policies ad renewa}s thereof shalt ~ in farm acceptable to Lender and shall include a standard mortgage
<br />~._ __ -n ,s,-3=- --~ ,n _-- --r~ptahic to I~n_ der. L~ndc. s -.i tav~ the rigi2 is 4aid ti,~ policies and --_~~ais ilt~rsof,
<br />and Borrower;shall _oromptly=furnish to Lender all renewal notices and all receipts of said premiums. In the event of loss.
<br />Borrower shalt give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
<br />by $orrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shalt be applied to restoration or repair of
<br />the Properly damaged, provided such restoration or repair is economically feasible and the security of [his Mortgage is-
<br />not thereby imps"trod. 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 Mottgage, with the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrawcr, or if Borrower fails to respond 20 Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim far insurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's cption either to restoration or repair of the Property
<br />or to the sums secured by this Mortgage.
<br />Unless i ender and Farrawer otherwise agree in writing, any such application of proceeds to principal shalt nut extend
<br />or postpone the due date of the monthly installments referred to in paragraphs I and ' hereof or change the amount of
<br />such installments. Lf under paragraph IS hereof the Property is acgtaired by Lender, all right, title and interest of Borrower
<br />in and to ally insurance policies and in and to 2he proceeds thereof resuhing from damage to the Property prior to the sale
<br />or aequisitiaa shat] pass to Lender to the extent of the sums secured by this filar[gage immediately prior to such sale or
<br />acquisition.
<br />6. Preservation and A•iaintenance of Property; Lea holds; Condominiums; Planned Unit Developments. Borrower
<br />slrall'acep tYx Prope..y itx ox~ repair and silo]] not ~zommit ::ante or permit imps:-mint o~ deferiaration of the Prnp<rty
<br />and shall comply with the provisions of any lease if this lyiortgage is an a Eeasehold. if this Aortgage is on a unit in a
<br />condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration
<br />or covenants creating or governing the condominium or planned unit development, the by-laws aad regulations of the
<br />condominium or planned unit development, and constituent documents. If a condominiuun 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 Ire 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. Protection of LeaBer's Secari!*,,. If Borrower fails to perform the covenants and agr~menu contained in this
<br />Moetgage, 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 />bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such
<br />sums and take such action as is nceessary za protect Lendei s interest, including. but not limited to, disbursement of
<br />roasu[iabie attorney's fees and entry upon the Property to make repairs. If Lender required mortgage insurance as a
<br />condition of mating the loan secured by [his Mottgage, Borrower shall pay :he premiums required to maintain such
<br />,~s:ra, ~ i3 euect until such bye as the requirement for such itasusance terminates in accordance with Barrtswer s and
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