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79-- ~~241
<br />Urttaottat Covt:xaxn. Borrower and Lender covenant and agree as follows:
<br />I, Paymsnt of Principal aad lnteresi. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and tare charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured b}• this Mortgage.
<br />2. Rands for Taxes aad lasuranct. Subject [o applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a stem (herein "Funds'; equal to one-twelfth of the Beady taxes and assessments which may attain priority over this
<br />Mortgage, and ground tents an the Fropert}', if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus aae-twelfth of yearl}• premium installments for mortgage irwrance. if any, alt as reasonably estimated initially and from
<br />dine Fo time by Lender on the basis of assesments sod bills and reasonable estimates thereof.
<br />The Funds shall be beld in an institutior, the deposits or accounts of which are insured or guaranteed by a Federal or
<br />stave agency (including Lender if Ltnder is such an institution). Leader shall apply the Funds to pa}' said texts, assessments,
<br />iaurance ptremiums and ground rents. Lender may not charge for so hoidine and applying the Funds. anal}•zing said account,
<br />or vetifting acd compiling said assessments and bills, unless Lender pass Borrower interest on the Funds and applicable law
<br />permits Leader to make such a charge. Borower and Lender may agree in writin¢ at the time of execution of this
<br />Mortgage that interest on the Funds shall be paid to Borrower, and unless -such sgrtement is made or applicable law
<br />requites such interest to be paid, Ltnder shall not be requited to pay Borrower any interest or earnings an the Funds. Lender
<br />shall gis'e to Borraxver, without chsrge, an annuat actiaunting of the Funds spewing credits and debits ie the Funds and [he
<br />purpose for which tech debit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />b}• this Mortgage.
<br />If tbe amount of the Funds held by Ltnder, together with the future morthl}' installments of Funds payable prior to
<br />the due darts of to-zts, assessments, insurance premiums and ground rents, shall txczed the anioum required to ps} said taxes,
<br />assessments, irauratttt preaiittms acid ground tetiu as the} fall due, such exce,s shall bt, at Borrower's option, tither
<br />prampd}' repaid to llorrowet or credited ro Borrower an mantht}' installments of Funds. If the amount of the Funds
<br />held by Ltnder shall not be stifficieat to pay taxes, assessments, insurance premiums and ground rents as they fall due.
<br />Borrower shai3 pay to Lendtr am• amount necessat}' to make up the deficiency within 3p days from the date notice is mailed
<br />by Ltnder to Borrower tegtusting payment thereof.
<br />Upon payment in full of alt s•,ims secured b}' this Mortgage. Lender shall promptly refund to Borrower any Funds
<br />head by Lender- If under paragraph 18 htrcof the Fmpeny is sold or the Property is otherwise. acquired by Lender, Lender
<br />shall apply, rio laity than immediately prior to tht salt of the Ftoptny or its acquisition by Ltnder, an}' Funds held by
<br />r ~ m ;~ t;,m. ;,t a,,..t~~~;.,o ~ ~ .-nit aQin~r t_l._ sums secured 6y ttvs Mongaet.
<br />rr....__..-.. ~ _ _-~
<br />3. AppF3taEim of Payments Unless applicable law provides othtrw:,e, all payments rereivtd by Ltndtr under the
<br />Nett arr..' paragraphs 1 and ? bertof shall bt appy-d b}- Lendtr fist in pad rotor of amounts payable to Lender by &irrnwer
<br />under paragraph 2 het'ts#, them in interest payable on the tiott, Shen to the principal of the Nntt, and then to interest and
<br />principal on an}' Futtut Advances.
<br />d. C-ax~ Llsas Borrowxr sltaR pay alt tarts, a:ct~menu and other charges, foes and tmp~vitions attributable io
<br />the Ptopem- which my attain a priority over this Mortgage, and leasehold patments or ground mots, i# any. in the manner
<br />prrn•ided tinder paragaph 2 bertof or, if not paid in such manner, by Borrower making pa}•ment, w°titn due. directly to the
<br />pa}xe thetraf. Bca-rower shall promptly furnish to Ltnder nit names of amounts due under this paragraph, and in the event
<br />Barnxa~r strati make pacmtnt dir~.d}•. Borrower shall promptly furnish to Lender receipts exi&ncing such pa}ments.
<br />Borrower shall ptttmpity rfis::harge any lien which has priorit}- over this Mortgage: provided, chat Barrowtr shalt rtet be
<br />rta~ttired to discharge any such Iita sa lung as Borrewtr shalt agree in writing to the pa}tntnt of the abhgation secured by
<br />sts~ tiro is a tuanntr s~eptable to Len~r, or shall in gcwd faith caMest such lira by, or defend enforcement of such lien iq
<br />legal procmdings which opsrate to prevent the tnfotctment of the lien ar forfeitttrt of the Propeny or any pan thercaf.
<br />5. Sasan6 las~'aaoe_ Boaawtr shat! keep the improsements new exis!ing or htrtafter trotted ati the Pmpeny insured
<br />agaitsst loss by fuc, hazards includsd within *ht term "extendel coverage", and such othu hazards as Ltnder ma}• require
<br />avd is such atirovnts and far such periods as Ltrt.~r ma}' require; provided, that Ltnder shall net r'equirc that the amoum of
<br />such :xaverape exceed that attwtaot of coverage required to pa} tht wins secuiYd b} this Mongagt.
<br />The i»gtras>Gt cattier providing the insurance shall be chosen by Borrower wltject to approsal b}' Ltnder, provided,
<br />tlxat sttvli approval shall »m be ttarasonalttc withheld. Alt pttmaums on insurance palicie shall ce psi.( as the manner
<br />ptsty~led Ltndtr paragraph 2 herwf or, if ntu paid in such manner, bs Berrowu making pa}'ment, when due, diitrdy to the
<br />iasvtatace carrier.
<br />AS itisuraace palms and ttnewak tlaera>f shall k.e in form acrtntable to Ltndtr and shall tnrlude a standard mortgage
<br />ciattse in #avcu of and in f~ a:.ttptable io Ixn3er. Lender shsli halt the right to hold the poiicits and rcntuais thereof.
<br />asd Bcxrowtt shall prxvaptly furnish to Ltndtr all renewal natives and all teeipts of paid premiums. In the event of Lrss,
<br />Hartoaer shall givr pri*mpi aerial ra the insurance .;arr'irr and Leader. tender ma}- make pr.~~t of !as if tier made pr~~mptly
<br />~ Bt~^txe4rct_
<br />Ua3es Lendtr and B01rew'er otherwise agree in waling insurata.,t prviceeds sA.all bt applied to restoration ar repair of
<br />the Piopur} u'amagad. pac»-ided such testaranon or repair is trnnomicaB}• Ttasibk and the securit} of this Mortgage i>
<br />sat tisercdty impatrcd. If such rcstnratrraz of repair u :rot e:.onomicall}- feasible er of the serurit}' of this Mangage would
<br />bs rs#pairtd, the insu-~rtx procttds shall he appiird tc tot sums stcurtd bs this ?~dongagt. u~nh the txctss. if any. paid
<br />to Batxnvtr. If the Propttx} i$ abatsdotitd F} Et:~rt.wes. ~~r ~t &vtrowu fails to rppond to Ltndtr within 30 days tram the
<br />dart sotitt is marled bs' Lendtr to $arn wtr gnat the imuranx rarrttr offtrn to state a claim far irnuranrt benefits, Linder
<br />is atsthtar•imd to cdisrt and apph the r.nwtarx pracstds at l.tndtr's option tathtr to testa=-arson ar repair of the Proptrt}'
<br />ar ~ rber saws stcuted by this Mangege
<br />Usts~ itndtr and Baarawtr athtr+ist agrtr sn wrung, art} strip appli::arixs of proceeds to pnncapal shall oat extend
<br />ffi aasigat the dos date of iht taomhh~ installrents rifer, td ao in pangrapits 1 and '_ bettor ar change the amount of
<br />strop ittrYa:Us~ if taadtr patagra}Yi li5 hertoi thr Frepern is acquired b} Ltnder, ail right, title aad interest of Borrower
<br />in attic tit ten}' itaaa:rattce policies and in ant! io the prttatzcis thtieaf resulting from damage to the Proper} prior to the sate
<br />os Irian sbaB pass to I.sader to the tstent of the wim sr<-iireJ to this ~tortgagt immtdiattly prior to such salt or
<br />~ Pttieaesvartoa alai ~faiRSSncs of traPenS; LraseiSdds Condominiums: Planned Unit 1?evtdoPmeats. Borrower
<br />fhs13 }~ $it Prtvlaerty i3 good repair aril shall net rnaimit waste or ptrmit impairment or deterioration of ibe Prvpetty
<br />and shall ppsaply with the provisions o2 arty lease rf tbu Mongagr i5 on a ltauhold. IT ibis Af ortgage is en a unit in a
<br />c~amiaium ar a planed tinii dtvelapmcnt, Barrawer site!! ptrTarm all of Borrower's obligations under the declaration
<br />Ot ~vtaaats crcar-'gg or gavtmia8 the caidonsimvtn ar plannsd unit dtv=t}.~+pmtni. the Isy-taus and regulatiars of she
<br />imam tar plaatrnd trait devtkpafent and :.otu[itutnt documems. If a wndaminium or planned unit development
<br />ttat7 is tttedned ay Btxrvvvtr acrd rsrzx~rd~ i~gethtr w;it this Martga3t, u~ r:aver.;,rtts and agreements oT s:xh rider
<br />shah be ineatpm'aeed itAa aad ilaaii aaatnd grad suppltmtai the cotenants and agreements of ibas Mottgagt as if the rider
<br />tine a part >zrrml.
<br />7. Paa:krKe~ of Latiee's Saeweilt. If Borrower Trails io perform [be cuvtnants and agreerr~enis contained in this
<br />lli~sgags, rg if nay a;xitn or wing is :~ammertced which materially affects L.tnder's irttrest in the Proper},
<br />~, late not liatited to, eminent tlaataia, insti+Jte-ncy, code znforctment. ar arrarrgtments or proceedings invoh~ing a
<br />Inaktttpt ar fit, tarn !.alder nt i~der`s apiiott, upaa rwtice to Harrower, may make such appearance, disburse such
<br />snms attd Lairs loop aaicm as is ttsttssarv to protxt Lendrr's interest. including, but no[ limned to, disbursement of
<br />rtaaoaabk atmaney's fns atad tatty upon the Fr3ptrty to make repairs. If Lender required mortgage insurance as a
<br />condetian a# making tfr loan sneered by chi; Mongagt, Borrower shall pay [he premiums required to maintain such
<br />--- is offal imp such time as the rrquiremsnt for such insurance terminates in accordance warp Borrower's and
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