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~9-• ~3U715~~
<br />UNIFORM Covaxnxrs. Borrower and Lender covenant and ^gree as follows:
<br />1. Pspment o!` Pdatipu and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />ors any Future Advances secured 6y this Mortgage.
<br />2. Faads for Tares and Ituvrance. Subject to applicable taw or to a written waiver by Lender, Borrower shall pay
<br />[o Candle on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a sum (herein "Funds") equal to one-twelfth of the yearte tales and assessments which may attain priority over this
<br />Mortgage, arsd ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus one-twrolfih of yearly premium installments for mortgage insurance, if any, ail 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 Futsds shall be held in an institution the deposit or account of which ace insured or guaranteed by a Federal or
<br />s€.u: sgtncy 4im^.!-uding Lersder if Lender is such an institution]. Lender shalt apps} the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said accouni-
<br />or vezifyiag and eampiling said assessment and bills, unless Lender pa}'s Borrower interest on the Funds and applicable Iaw
<br />permits Lender io make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />MotYgagt that interest on ilia Ftmds shall be paid to Baaower, and unless suds agreement is made or applicable law
<br />regmres such interest to Ix paid. Lender shall nest be required m pay Harrower any interest ar earnings an the Funds. Lender
<br />shall give to Borrower, t.;iilmut charge, an annual accounting of the Funds showing credit and debits to the Funds and the
<br />pttt-pose far which each debit to the Funds was made. The Funds are pledged as additional security for the sums secutvd
<br />b}` this Mortgage.
<br />L` tlx amount of tiro Funds held by Lender, ingather with ilia future monthly installments of Funds payable prior to
<br />the due data of [aces, t, itsurance premiums ana ground rent, shaS1 exceed ilia amount required to pay said taxes,
<br />assessment, iasutan.-e pzemiums and ground rent as the} fall due, such excess shalt be, at Sarrowei s eptian, either
<br />promptly repaid to Borrower or credited iq Barmwer on monthh• installments of Funds. If ahe amount of the Funds
<br />herd by Under shag net be sittBtsent to pay races, as=essments, insurance premiums and ground rents as they fal! due,
<br />Barmteer stall pac to Cornier any amount necessar}° to make up [ht deficiency within ±1 des}~ tram the date notice is mailed
<br />be Linder to Borrows regitestirig payt[stni thereof.
<br />Upaa a3}mtai in full of all sterns secured by this Mortgage, Lender shall promptly :fund m Borrower any Funds
<br />held by Lender. Lf under ;saragraph iR ]tereaf the Property is sold or the Property is otherwise acquired bv~ Lender, Lender
<br />shall apptg, ao later than irtsmediateh~ prix io ilia salt of the Properi}' or its acgtnsitier, by Ltndtr, an} Funds held by
<br />Lender at the time of applicatioa as a credit against the sums secsrred try thss \fprtgagr.
<br />3. AppBtatim ad Payments. Ltnless applicable Iaw gmsida othenvisr. all payments rtceivtd by Lender under the
<br />`:ate sad paragraphs 1 and . hereof shall be applied by Linder first m pavmtn: of amounas payable to Lender by Harrower
<br />under pangrsph ? heta~f, then w inie2st payable on the ?vats, tls'n to the prim Epai of the 'vote. and then to interest and
<br />ptisrcipai an any Future Advances.
<br />i. ~ I3ts~. Barrowv shat! pay ati taxes. assessment and ether charges, fiats and impositions attr;butable to
<br />ilia Ptuperty which [nay attain a priority over lists tiiartgage, and leatiehotd payments or ground rents, if an}'. in the manntr
<br />prrseided tntd~ paragraph 2 betref or, if not pa=d in leech mantstr. b} Borrower making payatent, when dire, dirutly to the
<br />payee thcteoi. Borrower shall promptly furnish is Lender elf aotic.:s of amount dell under this paragraph, and in the event
<br />grower sisal] make payment diretith~, 8ntrower shat] pramptt} furnish to Ltndtr receipts evidencing such payment.
<br />Biurawra shalt prsampth' discharge any lien v;itiCh has prsartty over this Mortgage; provided, that Barmwer shs11 not be
<br />regsrited to t'aschatx ape stilt 3ien sa 'song as Barrowu shalt agree in writing to the payment at ahe obligation se.uttd try
<br />such lim in : nsaaner a:geptable is Lender, ar shall in geed faith can[est such lien h}', or defend entotremrnt of wch 3ien in,
<br />Ie;al pacsct,tdatgs which operate to prevent the enfivttment of the lien ar fgrfeiture of the Property ar ary part thereof.
<br />S ~d Ieaean~ Botmwsr shall keep the unpmvement now existing nr hcrtafttr erected an the Proprn}' insured
<br />agaitat ~ by fine. hazards included within the term "[;tended coverage", azsd such other hazards as Lender may require
<br />and in stash amount tttvi far so=ts periods as Ltndtr ma} require; provided, that Leader shall not n-quirt that the amaum of
<br />such rnverage ext>4ed the[ atnoutst of .avenge rt~sunxl to pa}' ttx sums second by this Ma»gage.
<br />Tffie iararraace carrier pravidinsg the irturanx shall be chosen by Borrower subject as approval by Ltndtr, provided,
<br />that such apptrnxl shag noes be urttcsmnabh• withhcid All premiums on insurarce policies shall be paid in ttx manner
<br />provr$tsd under paragaaFh 3 hereof qr, if aai paid b such manner, b}° Barn~wer making payment, whin dot. dsrectly to the
<br />iffinramx carries.
<br />Ail iaasrana~ patios sad teuewak thertot steal! be in faun au~eptabk ro Lendt; and shall :nclrsde a standard mortgage
<br />dame is fatirnr of and us faun argeptatde to Lender. Ltndtr shad have the right ao hold the policies and naewals thereof,
<br />and Bnrr'emsr shsIl praenptiy f•3rsiah zo Lsndrr all rtaewal nanxs and al! rr.~~eipts o€ paid ptemituna In the teem of kssa,
<br />~~r alLwil ghe pti>ris~ rssvict to the inwrarect carrier and isndet, Ltndtr may make pmat ai lass if not made promptly
<br />Unless Landes sad fltsrrawrr txlxrw~ist agstt b wetting, insurance pr,L-zzds shall fsz appiitd to rzs[aratian or repair of
<br />the Property damaged, p_ocided such restantian or rtpatr ss erarsotnicsll} itassb3r and the st:urny of this Mortgage ss
<br />apt ittmsby itapastcd_ If such rtstante<~es ar repair 3 not zxats.'smi..alh feasible qr ,f the srcurit}' of this Mortgage would
<br />bt i~+~- the insurance proceeds sha?i be agpiied to the sums secured b} this Mosigage, wuh the excess, if env, paid
<br />w I3arrgvt.:- tf the Proptata a aisattdzned by B.vrowt;. rn it Borrower fails so respond to Lender within 30 days from the
<br />date native ss mailed b} Lender to Bntrw:es that the iusitranct carets aders to scale a claim far insurance betscfiis, Lender
<br />is attahnrimd ~ a~e.^t sad apph ilia rnsttratts pr~eeds a[ Lender's apiian dthtr to restara[ion or repair of the Propem'
<br />or m the tames s~tzmd by thss Iltoxtgagc.
<br />Uuks: Lsadrr anti Horraa+er ,rshrns«r agree m waling. say stet h appli~iiats of prs.:rtds to pnncspai shall not extend
<br />ar paa3p®e the due date of its tntleilt"t* :nsiaiits9tist rtfsmd to in paragraphs ?and ? hereof or change [tit amount of
<br />such i:nsa8rrtttts.. If ttadex pangtxpts i 6 hemtf its Property- is an}usrrd b} Lzader, all nght, title and interest o€ Harrower
<br />is and txs an}' ussu~nct paii:xa atad sp atsd to the va.-•tods t3ure-s: resulnng from damage *_o the Propant prior to :hr s:sle
<br />or aegmstutrm shall pass to Lctsdtr to the tx=_en[ of the wins s~urtd b} thu Mortgage tmmtdiate]> prier t.~ wch aaie ar
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<br />6 ltsam^rsGen atad :/.'fine~ct at Pre{rctt}; [.tase6p}~ Coeakstnisla~ !'Fanned Unit S7txtiapteests. borrower
<br />s13aB kpt~s the Pragserty is goad reFssir and shall aces etunmit waste ar petmst impairment x deteriaratiar, of the Property
<br />sad ah~l imp}}' w~ ttre ptvrarorss o= any leare of thri Mortgage rs as a leasehold- fi this Mortgage ss on a unit in a
<br />s a plarrad utsrt developtntat.. Bar_awnt shall perform all of Borrower's abligatiuns under the declaration
<br />~ s tsutittg ~ ga+rtrmag for toad~msaium rn piarsned unit development, test by-laws and regulations of the
<br />c-andtuaieitmm ar pisnnetl irBR ~^'~t~^s and :.aastiureat darttmems- If a conttaminitrm ar planned unit dtvelnpmcnt
<br />rider is uresrs+d by 13ottspwer end rcenrded tagcther with ibis Mortgage, the covenant and agreements of such nder
<br />shag be iam~rptgamd iado sad shall a alai supp3emeoi the covtnanu and agretantnts of uses trlortgagt as it the rider
<br />tvere a part hr~f_
<br />Z IttMetder d La^adec'tt Sessrity. If Hcrruwer faits to perform the rnvrnanis and agreements cantaincd in this
<br />.;K'~. su if say actin ~ ptomediag is s-tsrnatenctd s°Isicts mazeria!!}' allots Lender's interest in the Property,
<br />~ ~Y }imi~! tn, etttisent dnsaaitr. iasolvtocy. [:ode enfar•emrnt, ar xzraagemtnts ar proceedings involving a
<br />G>taficittgt ~ dpeadani, then Levdrs at Leader's optiaa, upon rtatitc to Bonowtr, assay make such appearances. dssburse such
<br />~ and take stteh adiDe as is ndxssary to praaect Lttrdeix snttrest. including, but not limited to, disbursement of
<br />reasonable attasne}r'a fees and entry upon zees Property to make repairs. if Lender required mortgage insurance as a
<br />axxtsdNiaa of tasting the bas stctaed hY this Mortgage, Borrows shall pa}' test premiums required to maintain such
<br />insura~ ~ e~ecY ttofil loth time ~ the rtquiremeat tar such insurance terminates in accordance with Borrower s and
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