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<br />Lta~adit=oauur tr'ov~t:t~t,a~rM~rs. $an~ower and .L.znrlrrr crnveunant, a.nt3 allrec ;16,1i~ foillo~vrip„
<br />€. :l"'ap~~aimptmtt asf ,Pclrtelpa3 seed InBttrea!q. Eire rtaryw•~r uahaNE prnxnptG} gags we°heu slur tkn~e lsrancipaal of ar.cl iinur~:rest ran n:hfl~
<br />indzfi2c.;riess es°i 'xiced by 2hz :vote, prepaymtat and iatz charges as provided in the :=.`ot~, and the ~rincipai of and interest
<br />on any Fuiurs Advances secured by this 3fortgage.
<br />2. Fttnrlf for T'aaes and inaarareee. SubjeM to applicable law or io a written waiver by Lander, Borrower shall pay
<br />to Lender on the day monthly installments cf principal and interest are payable u :der the Note, until 21te Naie is paid in ful:,
<br />a sum (herein "Funds") equal to one-twelfth of the yearly tares and assessments which may attain priority over this
<br />Mortgage, and ground rants on the Property, if zny, plus one-twelfth cf yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium installments fcr mortgage insurance, if any, ail as reasonably estimated initially and fmm
<br />time io timz Sy Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />~-Ite Fartds shall be held in an institution the deposits or ac~urts of which are insured or guaranteed by a Federal or
<br />state agency {including Lender is Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums sad ground rents. Lender may not charge far so holding and applying the Funds, analyzing said account,
<br />or verifying and campiling said assessments and bills, unless Lender pays Borrowe.* interest on the Funds and applicable law
<br />pet:nits Lander to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that interest an the Funds shat be pzid to Borrower, and unless such agreement is made or applicable law
<br />requires such inieresi to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />;hall give ro 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 additional security for the sums secured
<br />by this Mortgage.
<br />If the amount o€ the Funds held by Lender, together with the future monthly insia!tments 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 Borrower or credited to Borrower on monthly installments of Funds. If the amount of tt;L 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 3(1 days from the date notice is mailed
<br />by Lender to Bo?-tower requesting payment thereof.
<br />Upon payment in fait of all sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />held by Lena€:r. If unizr paragraph 18 hereaf the Property is sold or the Property is otherwise acquired 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 by
<br />Lender at the Yime of application as a credit against the sums secured by this Mortgage.
<br />3. Anplir_afloa of Pavmentc, tinle_ec a~ntieatitP law, .,~„v„ta .,rher,yice, a!! pay moms ra~P:.,P.t by r end_Pr .odor the
<br />Note and paragraphs 1 and 2 hereof shall be applied by Linder first in payment of amounts payable to Lender by `Borrower
<br />under pazagraph 2 hereof, then to interest payable oa the Note, then to the principal of the Note, and then to interest and
<br />principal on any Future Rdvances.
<br />4. tvitarges; L%ns. Borrower shall pay all taxes, assessments and other charges, finis 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 />provided under paragraph 2 hereaf or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />payee hereof. Borrower shall 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 furnish to Lender receipts evidencing such payments.
<br />Borrower shalt 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 [he payment of the obligation secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any pan thereof.
<br />5. Aazard Itvsttrance. Borrower shall keep the improvements now existing or hereafter erected on the Property itzsured
<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 for such periods as Louder may require; provided, that Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage required 20 pay the sums secured by this Mortgage.
<br />Eue insurance cazrier providing the insurance shall be chosen by Borrower subject to approval by Linder; provided,
<br />that such approval shall not be unreasonably withheld. Atl premiums on insurance policies shall bt paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payrnem, when due, drily to the
<br />insurance carrier.
<br />r°:II in~rtra ie ~liciw ,ud renewals thereof Tali ~, in form a .:~ptab;z to Lender and shall include a standard tncrtgage
<br />clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereo[,
<br />and Borrower shall peo:nptiy furnish to Lender all renewal notices and ail receipts of paid premiums. !n the event of loss.
<br />~3arrower shall give pron7pt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or 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 it the security of this Mortgage would
<br />be impaired, the insurance proceeds she!! 6e applied to the sums secured by this Mortgage, with tfie 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 />date entice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
<br />is authorized to collect and appl}' the insurance grocceds at lender's option either to restoration or repair of the Property
<br />or [o tits sums secured by this Mortgage.
<br />Unless !xnder and Borrower atherwise agree in writing, any such application cf proceeds to principal shill net extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and Z hereof or change the amount of
<br />such installments. If under paragraph IB hereof the Property is acquired by Lender, all right, titk and interest of Borrower
<br />in and to any insurance poiictts and in and to the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acyuisiuon shall pass to Lender to the extent of the sums secured by this Mortgage immediately prioc to such sale or
<br />acquisition.
<br />6. Preservation sad Maintenance of Property; Leaseholds; Condominiums: Planned Unit Developments. Borrower
<br />steal! keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property
<br />and shall comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is nn a unit in a
<br />candGntiniut-ci of a planned unit dzveiepment, Borrower shall perform all of Borrower's obligations under the declaration
<br />or rnvenants creating or gavetning the condominium or planned unit development, the by-laws and regulations of the
<br />condominium or planned unit development, and constituenr 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 />shall be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
<br />were a part hereo#.
<br />?. Prote~Hion of Ixader's Secc~ritq. If Borrower fails to perform the covenants and agreements contained in this
<br />Marfgage, or if any action or proceeding is commenced which materially affects Lender's interest in the Property,
<br />including, but not limited to, emitttnt domain, insolvency, code enforcement, or arrangements or proceedings involving a
<br />ban4rupt or decedent, then Lender at Lender's option, upon notice Eo Borrower, may make such appearances, disburse such
<br />s•;ns and rake such action as is necessary to protect Lenders interest, including, but not limited to, disbursement of
<br />reasonable attoroty's fete and entry upon the Properly to make repairs. If Lender required mortgage insurance as a
<br />condttion of m~tiing Tlx lozn .:cured by this Mortgage, Borrower shat! pay the premiums required to maintair, such
<br />insurance in effect until such time as the requuemenf for such insurance terminates in accordance with Borrower's and
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