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<br />79-- ~0'7~i~~
<br />Utvmoais COVENAN75. Borrower and Linder covenant and agree as follows:
<br />1. Papazent of Pdaclpsl and intermit. Harrower shall promptly pay when dui the principal of and interest on the
<br />indebtedrtess evidenced by the Nate, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. ]ltieads for Tazes aml Issettavice. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to i-ender on the day monthly installments of principal and interest are payable under [he Note, until the Note is paid in full,
<br />a sum (htrein "Funds") equal to one-twelfth of thz yearly taxes and assessmems which may attain priority over this
<br />Mortgage, and ground rents on the Properly, if any, plus one-twdith of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated irzitiall}^ and from
<br />one So time by Leader on tlsr basis of assessment4 and bills and rea>onable estimates whereof.
<br />Toe Funds shall be held in an institution ihz deposits ar accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Leader if Lender is such an institutiont. Lender shall apply the Funds to pay said taxes, assessments,
<br />imitraace prerniuitss and glowed rears. Lender may not chargt fur so holding and applying the Funds, analyting said account,
<br />ar verifying sad eampitiag said assessments and bills, unless Linder pays Barrowzr interest cn the Funds and applicable law
<br />permits Letrdu to make such a charge. Borrower and Lender may agrce in writing at the time of execution of this
<br />Mongage iha! interest en the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />xequitrs stzeh in[etixt to be paid, Lander shalt not rte required to pay Borrower any in[e:+est ar earnings on the Funds_ Lender
<br />shall give to Bortnwer, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose far which each debit to the Funds was made. 'The Funds are pledged as additional security' for the sums secu.~ed
<br />by this Mortgage.
<br />If the atnaunt of the Funds held by Lender, together with the future monthly installments of Fonds payable prior to
<br />the duo dates of taxes, assessments, iteurrantt premiums and ground rend, shall excezd the amount required to pay said races,
<br />assessments, ituurance prertritrms and ground Ynts as they tall dui, such excess shall be, at Borrower's aption, eithu
<br />promptly ropaid to Borrower or credited to Btirrowet alt menthh• installments of Funds. If the amount oT the Funds
<br />held by Lender shag teat be strffisat to pay zates, assesvnrnis, insurance premiums and ground rents as thzy fal{ drre,
<br />Bottowtr shalt pay io Leader any amount necessary to make ap the detfcienc}• within 3v days firm iht daft. native is mailed
<br />by l.endet to Borrower tequesdng paymem thcieaf_
<br />i3ptxt paytttent in full of all sums secure3 b)' this Morgage. t_tnder shall prampth• refund io B,~rrower any Funds
<br />Mad by Lrrnier. If usdes paragraph I7; hcteot the Propeny is sold or the Prom}- is otherwise acquirzd by Leader, Lender
<br />shalt apply, no later than itnmtdistely pear to the sale of the Prapeny ar its a~quisiiton by Lender, any Funds held by
<br />Lender at the lime of appliutitm as a crtLiit against the suns soured I+y [his Mongagc.
<br />3. Appikadaa sf ! Unless spplicsble !sw provides otherwise, a!1 payinenti rectived by Lender under the
<br />Note and paragraphs I atsd . hereof shall be applied by Lender first in payment of amounts payable to Lender b}' Borrower
<br />>Jnder patagtap'r 2 Iso[eaf, then to inzerrst payatk on tlae Notz, thin to the prittcipsl of the Natz, and then to interest and
<br />prinapal ore any Future Adcancrs,
<br />r. CLt~ !!less Bortevwer shall pav a?t texts assessments and other cha.-grs. fines and tmpcuitions anriMttable to
<br />tree I?rapraty which taay attain a p~iortw oc-er this Mongage, z^d leasehold paymrrsu or ground rents, if any, in the manor
<br />pevvided under prragraph 2 heroa# ar, if not paid in such mannzr, by Borrower msking paymznL when dut. dittxtly to the
<br />paytt+c theesof. Botrowp' shall ptximptiy famish to Lender all notices of atrtctuats due under this paragraph, atzd in rho event
<br />Btattasser shall make payment diratly, Ba~rowcr shall promptly famish to Lender receipts evidencing such payments.
<br />Bntrontr>x shall ptnmptic discharge any I:eir whuh hss pritiriry over this Mortgage: ptuvi.:ed. tlsat Borrower shall not bo
<br />tequizod to dzsxharge any such Tien so A~ng as Borrower shall ague in wriung to the payatcnt of the obligation secured by
<br />stzclr li«t in a ttsasmt aaarptalzle to Leader, ar sha31 in gtx~d faith c.+niest such lien by, ar defend rnfotcement of wch lien in,
<br />legal pcxeot:iregs w'hiyt npetate io prevent the enfaraement of rite lien ar fotieiiwe of the Property or sny pan themf.
<br />S 19aowi Iaaacaaee. Borrower shat! keop tfie improvemctits rtaw existing or hereafter uectcd alt the Froperty insured
<br />agatasr Ines by fue, huatds itz:.Iudrd withra [ham term "ztteaded coverage", sod such ottxr hszanis as Lendu may require
<br />seas in stmt artsrntats and for such periods as Leader may require; pravided, thst Lender shall not require that the amount of
<br />sigh coverage exroed that ataormt of vv-+v~xrakrc nyuired to pay tfx sums secured by rhos Mor,gagr.
<br />The snsmatue cattier proving 3x insitrrtnre shall be choreal by Boxtower nth-t to approval t+i Lender: provided,
<br />that ra>*~ appttival shall sot 6t unreasonably withheld. All premiums an insurance policies shall be pai6 in [!rc mantur
<br />prxzt~ed testier paragraph 2 hc'rnf ~, d teat paid in such *++nn^a~, by Borrower making payment., when due. dire~etiy to tM
<br />iasmaniar celeste.
<br />All iiastr[aetm policies and erasers ale thernzf shall bt in iotm acceprsbk to Lender and shall include a standard mortgage
<br />~ faY~s' ~ and ~ f~ '~ to Lcstdrt. Lender shall hate ;'•n ;,gbr ra bald •,.~ policies sod : vnr+vals ihueaf.
<br />amt 1 steal! ptnasptty futaiah x+ Leader alt renewal notices and sil ra~ipts of paid premiums- In the event of less,
<br />liarzower shall give prompt ac+tix io the insurance .-wrier and Leader. Lender ma)' rmke pnwf of lass if not made prcwnptly
<br />by $otaxwxer.
<br />Utsiptt Ltatdrr and Bcvrower otlxt+vise agree in w riling, insurantt proceeds shall be applied to restoration or repair of
<br />the Property damaged„ provided swell rrstotatroa cu repau is rcanvnicalh' feasitik and th+ se<`urity of this Mortgage is
<br />aoi tlseet~by impaireai if such restoration oat r~atr is not ecainmtivafly feasible ar rf the xcuritc of this Mnngagc would
<br />ix ittopaued, rho inwraact pnx+eeds shall be applied u, the sums soured b)' this Mortgage, v:i[h the excess. if any, paid
<br />m 6eurarru~. if the Ptope-ty n attandoaod M Sormx~er, of tf Borrower Earls ro respond to Lender within 30 days from the
<br />tl.~r ssa[ier s tetailod fe)• L;eaht to Hormw•u zlzat the insurance carrxr afters to sense a claim for insurance benefits, Leader
<br />s amlaoziaed to xlkct sad apply for msurara~r pr_~iraoeds at Leader s aption uWu to restoration ar repair of the Property
<br />eu ~ ~sr r~ sa:~rrted tp this Mnrt~.
<br />tiaie~ Irmder told $tnex+vxr orhezw-ire agree to w°nung, any such applicatiort of pr.~..eeds to prinapsi shaft not extend
<br />or paetpone else drx doer of zee innanrt}~ inculimems rrieritri zn in paragraphs i and '_ hereof or change the amount of
<br />taste iactrltraeatc. If uodet Qaragraph 18 helaaf the Property is acgmred t+y Lender, all tight, title and interest of Horrnwtr
<br />is acrd to set i»strraax pduaes and in a+id ?c- the prxeeds eheteaf resulting from damage to rho Property prior to the Satz
<br />of atraaz shalt pass to L to the uteaz cf the runts secured by rh+s Sfongsge itnmcdiateh prior to surh sale ar
<br />;i leattxsa6aa atsd +re of 1'ropsrf;; Lcsrhsl~ Cuedagienci•>s~ Pfaenea t!att 1?ertlapmenis. Borrower
<br />trhsi{ kotsp the Property ~ gtscid repair and chili oat r,:i>;Fintli waste or permit impairment or deterioration of thz Property
<br />sad aha@ tmmgty with tht gxsx cs any lease rf the=_ Mongage a an a leaxelzald. If this hlongage is on a emit in a
<br />of a plaaood ttttii developstscnt, Harrower shalt perfamt alt of Barrawei s ahhgatians under the declaration
<br />~ aeNielY or Ecrvtraing the emsdominium nr planned unit develaptnent the by-laws and regulations of the
<br />au piaamd train de+at, and eonstitutnt documents. If a eandaminium or planned unn development
<br />tiriGt a aaarxcted try Bare+rnvu •ad remtdesi togorlicr with this Mangage, tree covetrams and agreements of such rider
<br />i6~ hetacarg~aaamd into and shalt amrad sad suppletixnt the wsettants and agrcements of this Mongage as if the rider
<br />epee a pair Ipevaf.
<br />~. !! eft Jl.arim'y I# Bom3wer fails za perform the sovenaats and agreements contained in this
<br />~• tx # >~ atxiKr ~ pt~edietg is commenctd wltiih materially affats Leaders interest in the Property.
<br />iaobfiFmg„ te~• mx Laairod to, ~iereat , iuwlveocy. code enlorcemznt, or azrangetncnta or proceedings involving a
<br />taaarlcteg+t t~ deu~t, thm Leatdet u Lmsdor's option, upon rat~tt to Borrower, may make ouch appeazances, disburse such
<br />>~ sad tales tarc3r aecinia as is ncn'sary m protoct Leirdrr's interest, including, but not limited io, disbursement of
<br />teuost6de attototy's fete sad entry tspaa the Progeny to make repairs. it txuder required mortgage insurance as a
<br />eoaditiem of making the loan secured by this Mortgage, Borrower shall pay the premiums required to maintain such
<br />iawaaaoe is eIIocr until such time as the regtriteatent far such insuuance terminates in accordance 'with Borrowers and
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