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<br />i,,;;vrroM,ta +:.t.vre:rr,a,rrs. IEvrrc'wzr m.=.l I.:.nc9cr „~,.^snt a td agrr~e as fpllor~s:
<br />I', Payrtasni of f'rfneipat and Interest. Borrowrer steal'[ promptly pay wl`,en due rtes principal of and inrer~t on tits
<br />in~lelatsdrresss evidenuced by tlte, Note, prepa;ment antf pats, cltargps .as provided :n tlrte N'a3e, and the principal of and interest
<br />an any Future Advances secured by this Moctgage-
<br />2. rturds fot•'I'axes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower ;hall pay
<br />to Lsndzr on the day monthly installments of prinvpal and ineerest are payable under the Nose, until the Note is p. 'd in full,
<br />a sum (herein "Funds") equal to one-twelfth of the yearly rates and assessments which may attain priority over this
<br />Mortgage, and groun8 rents on the Property, if any, plus one-twelfth of yearly prett~ium installments for 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 tme by Lender on the basis pf assessments and bills and reasonable estimates thereof.
<br />The Funds shad bs held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency {including Lender if Lender is such an institution). Lender shall apply 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 account,
<br />or verifying and compiling said assessments and bi1Ls, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />to gaga that interest on the Funds shad be paid to Borrower, and unless such agreement is made or applicable laW
<br />requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings or, the Funds. Lender
<br />shall give to $orrower, without charge, an annual accounting of the Funds shcwing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />by this mortgage.
<br />[f the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />pcemptly repaid to Borrower or credi,~d to Borrower on monthly installments of Funds [f the amount of the Funds
<br />held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower shall pay to Lender any amount necessary [o make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Property is sold or [he Property is otherwise acquired by Lender, Lender
<br />steal! apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Lender at the time of application as a credo against [he sums secured by this Mottgage.
<br />3. Apg[ication o€ Payments. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Noce and paragraphs 1 and 2 hereof shall be applied by Lender firs[ ir. payment of ameurts payable to Lender by Borrower
<br />under paragraph 2 hereo$ then to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />principal on any Future Advances.
<br />4. Charges; Liens. Borrower shalt pay all taxes, assessments and other charges. fines and impositions attributable to
<br />The Property which may attain a priority over [his Mortgage, and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shalt promptly furnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any Tien which has priority over this Mortgage; provided, that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shalt agree in writing to the 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 lisp in,
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of rtes Property or any part thereof.
<br />5. Hazard Insurance. Borrower shall kcep the improvements raw existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term "extended coverage", and such other hazards as Lander may require
<br />and in such amounts and for such periods as Lender may require; provided, that [,ender shall not require that the amount of
<br />such coverage exceed that amount of ci~verage required to pay the sums secured by this Mortgage.
<br />'I2te insurance carrier providing the insurance shall be chosen by Borrower subject to approval 6_v Lender; provided,
<br />that such approval shalt not be unreasonably withheld, Ail premiums an insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />insttr-once carrier.
<br />All insurance policies and renewals thereof shalt be in form acc~ptablc to lender anal shall include , tanatard mortgage
<br />clause :r, favor cf and in term acceptable to Lender. Lender shall have the right to held the policies :;nd rcttev~a[s thereof.
<br />grid Bu,iower mall =aroPlptly ft?rfijgh t4 L€?3der all r6'neiYal nC+t!CP_s and 311 :_£etptS cf patd e ... the ?- S?t 1L+s3,
<br />Borrower steal! give prompt notic e to the insurance carr~r :utd Lender Leaaler may make prof of,i~ :f,nsat n~~?e z~a?ntptl_v
<br />by BOrrOWCL.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair ttf
<br />the Property damaged, provided such restoration or repair is economically feasible and the security of this ltlortgage is
<br />not thereby impaired. [f such restoration or repair is not economically feasible or if the security oC this Mortgage would
<br />be impaired, the insurance proceeds shall be spplied to the sums secured by this Mortgage, with the excess, if any, paid
<br />to $orrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
<br />date notice is mailed by Lender ro 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 Lender'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 prtxseds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and Z hereof or change the amount of
<br />such installments. If under paragraph ig hereof the Property is acquired by Lender, all right, title and interest u[ Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acgtusition shall pass to Lender io the extent of the sums secured i+y this Mortgage immediately prior to such sale or
<br />acquisition.
<br />6. Preservation and ir+Saiutenance of Property; LeaseholtLs; Condominiums; Planned Unit Developments. Borrower
<br />shall keep the Property in good repair and shall not commit waste or p^rmit impairment or deterioration of the Property
<br />and shall c'amply with the provisions o[ any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a
<br />condominium or s planned unit developmen4 Borrower shall perform a!! of Borrower's obligations under the declaration
<br />or covenar,is crcatipg 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 unit 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. Proteet[on of Lender's Security. [f Borrower fails to perform the covenants and agreements contained in this
<br />Mortgage, or if any action or proceeding is commenced which n-iaterially 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 />bankrupt or decedent, Shen Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such
<br />sums and take such action as is necessary io protect Lendei s interest, inNuding, but not limited to, disbursement of
<br />reasonable attorney's fees and entry upon the Property tp make repairs. If Lender requited mortgage insurance as a
<br />nanditinn of making the loan sesttred by this Mottgage, Borrower sltail pay the premiums required to maintain such
<br />insurance in effect until such time as the mouirement for such insurance terminstes in accordance with Borrower's and
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