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79•~ ~~~
<br />l3ritrara.nt ~.`avrtNANTS. Borrower and Lender covenant and agree as follows:
<br />l., Paymttat of Ptlmatipa! and Interest. Barrawer shall promptly pay when due; the principal of and fottrest on ihr
<br />indtlstrdness evidenced by the Note, prepayment and late charges as provided in the Notr, and the principal of attd interest
<br />on any Future Advances secured by this Mortgage.
<br />2. Irunda for ~'aaes and Iasnrancr. Subject to applicable law ar to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly instatimcnts of principal and interest art payable under the Note, until the Note is paid in full,
<br />a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground rents on the Property, 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 reasonably estimated initially and from
<br />time to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency ~ineluding Lender if Lender is such an institution). !.ender shat! apply the Funds ro pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender ma}• not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless Ltndrr pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing a[ the time of execution of this
<br />Mangage that interest on the Funds shall be paid ro Borrower, and unless such agreement is made or applicable law
<br />requices such interest 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 of *he Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds err pledged as additional security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds Geld by Lender, together with the future monthly installments 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 Borrowers option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall not be sufficient to pay texts, assessmenu, insurance premiums and ground rents as they fall 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 />tJpon gaymtnt in full 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 said or the Property is othersvist acquired by Lender, Lena_r
<br />shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds htld by
<br />Lender at ihr amt of application as a credit against the sums secured by this Mortgage.
<br />3. Application of Payments. Unless applicable law provides atherwisr, all payments received 6y Lender under the
<br />ivoie and paragraphs i and 2 hereof shah be applied by Ltndrr nest in payment of amounts payable to Lender by Borrower
<br />under paragraph Z hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />principal on any i=uhue Advances.
<br />4. Clrsrgea•., Llrps. Barraw•tr shall pay all taxes, assessments and other charges, finis and impositions attributable ta
<br />the Properly which may attain a priority over this Mortgage, and leasehold payments ar ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Harrower making payment, when due, directly to the
<br />payer thereof. Barrawer shall promptly furnish w Lender all notices of amounts due under this paragraph, and in the event
<br />Harrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Barrawer shall promptly discharge any lien which has priority over this Mortgage; provided, that Harrower shall aot be
<br />required W discharge any such lien so long as Borrower shaft egret in writing to the payment of ihr obtigatian secured by
<br />such lien in a manner acceptable to !.ender. or shall 3n gaol faith contest such lien by, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevcrt she rnfarcrment of the lien or forfeiture of the Property or any part thereof.
<br />S. Hazard Iasrrrance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against {ass by fire, hazards inchtded within the term "extended coverage", and suds atber hazards as Ltndrr may requiee
<br />and ire such amounts and far such periods as Lender may require; provided, that Lender shall not require that the amount at
<br />~uG - ~8.. r..:,..k.:...... ,v.. of - r~sVP .Pff ~:i3Cd fa f}av ihr SUm~ StcUFtd by tells R~artbagr.
<br />„"f ltryitts34rance carrttr providing ifs i~tEran ~ shall tsY cbosra Icy Barrowrr sublet[ to approval 6y icuuci, ~ ".'i :;.d,
<br />that such approves shalt oat tx utrreasanably withheld. Ali prrtniums an insurance polikira shelf br paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Horrower making gaymtnt, when due, directly to the
<br />insusAnct carrier.
<br />All insurance policies an:', renewals thereof shall bs; in form acceptable [e Lrndrr and shall mcludr a standard mortgage
<br />Clause in favor 6f and in forn2 aGC`Cpfa61C fa Lrndrr. i_endrr Shaft have tlrr right fo bald tflr policies Anil renewals rhtreaf,
<br />and ;larraw.r - urnistr to - ender _,. rencR•al no€i•Frs aced aft .-eipts of pairs premium, I:~ ...,, .rot of lass.
<br />Horrawtr st±a!l~givt teem,-t~nati~ to the~insuran;;e c~arre.:r and l.rtTCier. Lender tnay n:akt psani of IcTSS if .,.~ nTade pxarstptly
<br />by Boarawrr.
<br />finless [-totter and Horrors•rr atherwisr- agree in writing, insurance pnutrds shalt be applied In reswratian or repair of
<br />the Property damagttl, provided such rrstaranun or reparr is economically feasible and the security of this Alartgagr i~
<br />nut thereby impaired. if such resarrauon or reparr is not economically feasible ar if ihr security of this hlartgage wooed
<br />be impaired, the insurance proceeds shall ere applied to the sums secured by this Mongagr, wrth ihr excess, if any, paid
<br />io Bcrrrow•tr If tell Pro fxr[} is ahandoesrd by Barrowrr, ar it Borrower [ail, to respond to Lender within 30 days from the
<br />daft notice is mailed b} Lender ts> Horrowrr that the insurance carrier otters to settle a claim for insurance tTrntftts, !.ender
<br />is aui hartz.°d to Collect acrd apF,fy t,R [nsurance pew-.ttds at I.zndzr's apiian totter io t~ioraiion or rrF.air crf the Ptoprrty
<br />or to ahr sums secured by thrs Mortgage.
<br />t:nless lxncirr end Barrawer oihrrwisr agree m carting, any such application of prucreds to pnncrpal >hnlt not rxtrnd
<br />as pastpanr the die date of ihr ntofrthly installments referred to in paragraphs I and 2 hereof or chun(ie the amount of
<br />sash rnstaBnrrnts- tt under paragraph i8 hereof the Property is acquired by L.endrr, a!I right, title and imeresi .~f Barrowrr
<br />ir: ar:I ~ „:ry isrsu:a;::t pafrcitsatrel in a^,:i teT ihr prcT;;trrds thereof resulting from damagz tc. ihr Pro~rty t,rr.+ to the save;
<br />,.. ,.cyu .,.,,...,. shat' pass .., l dn;'r. ,,. tFx ...,rrr.r of the su.,.~ ~..ur~.i try this ,.,. -tgagr :r,,,nc;#iairly pr. r „ .,.,.,, ,a1r ..,
<br />a.:qutsition.
<br />~. ?rserr~~rr sml lit.><narrce a# Property: I.rasehralds; Cotidantiniutrss; Planned E!nit l?tsrtopraents. Hc,rrrwrr
<br />shalt keep the Property in gatTd repair and shall not comntil waste ar permit irnpainnent or deteriaratien of the Property
<br />alto strait ~:amply - lets tltr provisions of an}° lease if this ivlartgagr rs art a fe'as~lrc.lsi. if fir Mortgagz is an :, unit in a
<br />Carsdaminiusi ar a plarined unit :lcvtlaptntnt, isarrawrr shall pcrfnrnt ail of Hgrnlwrr.s olritgations under tilt declaration
<br />er Eavtnants creating at governing the eandaminium ar planned unit development, the by-laws and regtafatians of the
<br />eondaminium ar planned unit dtutlopmtnt, and canstinrrn! documents. if a candanrinium or plrrmtd unit dtvrl.-pment
<br />rider is executed by Borrower and recorded together wrth this Mangagr, ihr covenants atTd agrcrmrnts of srrih eider
<br />shall be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as rf the rider
<br />were a part her,;of.
<br />T. Paolectlon of Ltrndrr'a Secnrtty. If Barrawer fails to perform the covenants and agrtemtnts contained in this
<br />1liortgage, or if any action or proceeding is commenced which materially affects Lender's interest in the Property.
<br />including, but oat limited to, eminent domain, insolvency, rode enfarcrment, ar arrangemrn[s or pnTCrrdings involving a
<br />bankrupt or decedent, thin Ltndrr at Lender's option, upon notice to Harrower, may make such appearances, disburse such
<br />sums and take such action as is necessary to ptatect Lender's interest, including, but oat limited to, disbursement of
<br />reasonable attorney's fees and entry upon the Property to make repairs. if Lerdtr required mortgage insurance as a
<br />condition of making the loan secured by this Mortgage, Barrawer shelf pay the premiums required ur maintain such
<br />insurance in effect until such time as the requirement far such insurance terminates in accordance with Borrower s and
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