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<br />~'4_f h:r~:IF'oA wt C;:oa.~;t.*~~.,av~rs'. it~cur~rn3+uu~eir ztrud ]„,;~,rt¢;,E~~- vs'uwe,t;~trt ~~a~:ntl agree .its fog€l~c~~uv^~,:
<br />I i~nRj~B'2CNt rt# Priex~pat azsrf Ilrtirrest. IR3rur o;3a¢r she'€1 prt;anp~;3 pa;;: alMi m _'.ze t~ti f:rinsilasr •isf and uttctrst ors thaw.
<br />indebzedrtess ~viden~:Ad try tt~e :"gofer prepay'?re.*.t and 3to charges as pro~.:c:+.~t,` +ri the *~7c:te. and :;s~ prrrteigx9 0: snd int~re3.
<br />an any t.: ur., .4dvL.nces secured v~' this Mortgage
<br />.'., Futzds fur T'a~ aad Insa.9sce. Subject zo applicable taw or to a wriz..n wa;vez by Lender, Borrower shall pay
<br />to Lender on the day monthly installments of principa! and interest are payable ender the Nate, until the ':ore is paid in full.
<br />a sum therein "Funds") equal to one-twelfth of the yearly taxes and assessments ahiclz may attain priority ;,ver this
<br />Mortgage, and grcund rents on the Property, if any. plus one-twelfth of }early premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium installments for mortgage insurance. if any, all as reasonably estitnated initially and from
<br />Lime fo ti,°ne by Lender an the basis of assessments and bills and reasonable es.imates thereof.
<br />The Funds shall be hcid in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency {including Lender if Ixnder is such an inseiwtian i. lender shalE apply the Funds to pay said taxes, assessments,
<br />irtsuraace premiums and ground rents. Lender may not charge for so holding and applying the Funds, anaiyitng said account,
<br />a- verifying and compiling said assessment, and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />przmiu Larder to make such a charge. Borrower and Lender may agree is writing aL the time of execution of this
<br />Mortgage that interest on the Funds shall be paid to Borrower, and unless such zgreement is made or applicable Saw
<br />requires such interest to be paid, Lender shall not he required to pay Borrower any interest of earnings on the Funds. Lender
<br />shall give to Borrower, 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 as additional security far the sums secured
<br />by ibis Mortgage.
<br />If the amount of the Funds held by Lender, together with she futtue monthly installments of Funds payable prior to
<br />the due dazes of taxes, assessments, insurance pr^miums 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 Burrowers option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If 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 du>_.
<br />Borrower shall pay to Lender any amount necessary to make up tbe deficiency within 30 days from the date notice is : ~a!ied
<br />by Leader to Bai £awer requesting payment thereof.
<br />Upon payment in full of aft stuns eecured by this Mortgage, Lender shall promptly refund io Borrower any Funds
<br />held by Lender. if under pazagraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply; no Tatar than immediately prior to the sale of the Property or its acquisition by Lender, nay 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 shat! 1>e applied by Lender firs[ in payment of amounts payable is Lender by Borrower
<br />under pazagraph 2 hereof, £hen 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 />3. Charges; Lletzs. Borrower shall pay all taxes, assessments end 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 />provided under pazagraph 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 nat:ces of amounts due under this paragraph, and in the event
<br />Borrower strait make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shall not lze
<br />required to discharge any such lien so long as Borrower shall 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, ar defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcemene of the lien or forfeiture of the Property or any part thereof.
<br />5. Hazard 7murance. Borrower shall keep the improvements now 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 Lender may require
<br />and in such amounts and for such periods as Lender may require; 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 />Time insurance carrier providing the insurance shall be chosen by Harrower subject to approval 6y Lender; provided,
<br />that such approval shall not be unreasonably withheld. Ali premiums on insurance policies shall be paid in the manner
<br />provided tinder paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />insurance carrier.
<br />All ir,surarce paiici~ and renewals thereof shall l:•e in form acceptable to Lender and shall include a standard mertgaee
<br />clause in favor of and in form acceptable to Lender. Lender shaii have the right to hold the policies and renewals thereot.
<br />and Harrower shall promptly furnish to Lender ail renewal notices and ail receipts o[ paid premiums. in the .event of Lass,
<br />Borrower shall give prompt notice to the insurance carrier and bender. Lender may make proof of loss if not made promptly
<br />by Borrower.
<br />Ciniess Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoration or 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 ivtortgage would
<br />be impaired, the insurance proceeds shall be applied to the stuns secured by this Mortgage, with the excess, if any, paid
<br />to Borrower. tf the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days trom 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 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 proceeds to principal shalt not extend
<br />or postpone the due data of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments. if under paragraph 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />in and to any insurance policies and in and to the proceeds thereof resulting irom damage to the Property prior to the sale
<br />or acyttisiiion shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
<br />acquisition.
<br />6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of-the Property
<br />and shaii comply with the provisions of any lease if this Mortgage is an a leasehold. If this Mortgage is an a unit in a
<br />condotinium or a planned unit development, Borrower shall perform alt of Borrower's obiigatiam under the declaration
<br />er covenants creating ar 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 info and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
<br />were a pant hereof.
<br />7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this
<br />Mortgage, 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, cods enforcement, or arrangements or proceedings involving a
<br />bankrupt or dect~enk, then Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such
<br />stzms and take such actior. as is necessary to protect Lendei s interest, including, but not limited to, disbursement of
<br />reasonable attorney's fens and entry upon the Property to make repairs. 1# Lender required mortgage insurance as a
<br />canditian of making size loan set:uretl t:y this Mortgage, Borrower shall pay the premiums required to maintain snch
<br />insurance in effect untll such time as the reauiremeat for such insurance terminates in accordance with $ortaiwer's and
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