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L~~~~~r**a?t+S ~L's1vPx;~r,iwx5. Borrower and Lenaler vevenam e:~eisi '.a g~ree as Ala--la:u~xs_
<br />1.. Payment u~f Prlnaip-il and lnt~erest. Borr ~acr ti s]1 prr;mpt;y a ss~hsn l a. ,,he pr~tcip;,i a1' ara~d intlore trims ~tlha~
<br />~~ ~ uad°b?w,dne~ ~:aefa,ner:~~N by the Nate, prepayment <snd -aC~. c,`~arges as pro.d'.ed iiir .hr '~Karte. avu€ the principal of and i~ntere~s2.
<br />cgn any lE'uturz ~~,clo~ances seeure~d by this Mort,g~~t:gc.
<br />2, tnnds far Taxes and Iffirtra~e. Subject to applicable law or to a written waver by Lender, Borrower shall pay
<br />to Lender an the day monthly installments of principnl and interest are payable under the Note, until ire tote is paid in full,
<br />a s.urt fnerein "Funds"~ equal to one-twelfth of the yearly axes and assessments which may attain priarit~• ever this
<br />Mortgage, and ground rents on the Property, if any, plus one-twelfth of yearl? premium installment, fcr hazard insurance.
<br />- glus one-twelfth of yearly premium installments for :mortgage insurance, if any. all as reazonably estimated inrtiall} and from
<br />r lime to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />01 The Funds shall be held in an institution the deposits or accounu of which are insured or guaranteed by a Federal er
<br />~ state agency (including Lender if Lender is such an insti2utionl. fender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender ma}' not charge for so lto?ding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills. unless Lender pays Borrower ineerest on the Funds and applicable law
<br />per.^.:its Lender to make such a charge. Horrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall ba paid 20 Borrower, and unless such agreement is made or applicable Saw
<br />requires such in?erect to be paid, Lender shall not be required to pay Borrower any interest or earnings or. the Funds. Lender
<br />shalt give 2a Bcr:ower, 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 az addi2ianal security 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 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 florrnwer's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held ?ry Lender shall not be sufficient to pay taxes, assessments, 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 />try Lender to Borrower requesting payment thereof.
<br />Upon payment in full of a!1 sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />held by Lender. df under paragraph i8 hereof 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 time of application as a credit against the sums secured by this Mortgage.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Horrower
<br />- :ceder pa~aooraph ? t,ere„r then to in>.erect payable an the Note, then to the principal of *.he Nate, and then to interest and
<br />principal en any Fu::;re Advances.
<br />~. Charges; Irons. Borrower shall pay all taxes, assessments and 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 />ptnvided 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, and in the event
<br />Horrower shalt make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Horrower shall promptly discharge any lien which has priority over this Mortgage; provided, that Horrower shall no[ be
<br />required to discharge any such lien so long as Borrower shall agree in writing to chi 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 en[orcement of the lien or forfeiture of the Property or any part thereof.
<br />3. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazazds included within the term "extended coverage", and such other hazards as Londe: map require
<br />and in such amounts and for such periods as Lender may reyuire; provided, that Lender shall not require that the amount of
<br />such coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
<br />The insurance carrier providing the insurance shall be chosen by Bor€ower subject to approval 6y Lender. provided,
<br />that such approval shall not be unreasonably withheld. All premiums on insurance policies shalt be paid in [he manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />tnSUCdIICe CarlTer.
<br />A.'I insurance policies and renewals thereof shaft tx in fornt acceptable to Lender and shall inchtde a standard mortgage
<br />c}ease in favor of and im form acceptable io Lender. Lender shall have the right to hold the policies and renewals tlrereef.
<br />- and Banawer steal! promptly furnish to Lender aIl renewal notices and all receipts of paid premiums. In the event o[ loss,
<br />ll:,rrcwer shall give p rapt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
<br />_ by Herrower.
<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 ar 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 shal3 be applied to the sums secured b}' this Mortgage, with the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Horrower, or if Borrower fails to respond to Lender within 30 days from the
<br />date notice 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 apply the insurance proceeds at gender's option either to restoration or repair of the Property
<br />or to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shat) not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs I and Z hereof or change the amount of
<br />such installments. If under paragraph IS hereof the Property is acyuired 6y Lender, all right, title and interest of Borrower
<br />in and eo any insurance policies and in and to [he proceeds thereof resulting from damage to the Property prior to the sale
<br />or acquisition sha!i pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
<br />acquisition.
<br />6. Preservatlon aad '1laintenance of Property; Leaseholds; Condominiums; Planned Unit 6evelopments. Borrower
<br />shall 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 on a unit in a
<br />condetniniutm ae a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration
<br />or rAVenants creating or governing the condominium or planned unit development, the by-laws and regulations of the
<br />condominium or planned unit development, and constituent documents. If a condominium or planned trait 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 hereof.
<br />7. Protection of Lender's SecurHy. If Borrower fails to perform the covenants and agreements contained in this
<br />hSor[gage, 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 />btuilwpt or decedent, then Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such
<br />sums- and cake such action as is necessary to protect Lender's interest, including, but not limited to, disbursement of
<br />reasonable attorney's fec*s 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, Baaower shall pny the premiums required to maintain such
<br />insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and
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