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<br />I ~itrr~~ta~~t~r 4..r,. a.~s:~~i~^~a~i ti.. ~s•.rc~~.x , srial 1Le~,:~e„ ~c,..•rei,:,~t ,'c,>r; .g~~ree z, `:I6„~~wv~,
<br />I~, PVs~rrnyrrt of Plrbrs"~I'Inei' anal Lettiert. ~rrn~~sKer ~sfsal, p;~pC;~ ;gay -eF,9l~dsn ~d~~~: isut pri~saie~rp idV i',~f` lend itUr~tp.~s"P~ aami tf~
<br />inGeredr>es: e sd%;,~e:t tsy t'he Note, prepayment and late cftasges as p: sr :;aed ;r, e,^r ;`„te. a±;~d th=_ principa3 • ~ and sr,,or~•
<br />.,n any Future Advances skated b3" th,s Mortgage,
<br />., Floods #or T`ases anti insurance. Sttbjec2 to appli,:abie la:v or to a ^.r=.;en weaver by I_entfer. Borrawer shall pas
<br />to Col=der on the day monthly :nstaliments of principal and interest are payable undc°s the tine, until the "Lore as paid in fu3l.
<br />a sum !herein "Funds"1 equal to one-twelfth of the yearly taxes and assessments which may attain prion(}• ;suer tlt,s
<br />Mortgage, and gr~;:and rents on the Property, if any, plus one-twelfth of nearly premit:m installments fez hazard insurance,
<br />plus one-twelfth of yearly premium installments for mortgage insurance.:! any, al! as reasonalsly cstimaied initially and from
<br />rims to firm ny Lerttier or. the basis of assusments and bills and reasonable utimates thereof.
<br />T'he Funds shall he held in an institution the depcnits or accounts of which are insured or guarameed lty a Federal nr
<br />state agency f including Lender if Lender is such an institution!. Lender shat! apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge for sa holding and applying the Funds. analyzing said account.
<br />or verifying and compiling said assessments and isifis, unless Lender pads Borrower interest as the Furtds 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 />Mortgage that interest en the Funds shall be paid to Harrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not be requtr,.d to pay Borrower env interest ar earnings on the Funds. Ixnder
<br />shall give to Harrower, without charge, an annual accounting of trte 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 €or the sums secured
<br />by this Mortgage.
<br />if the amount of the Funds held by Lender, together with the future monthly installments of Funds payxhle prior to
<br />the due dates of taxes, assessments. insurance premiums and ground rents. shall exceed the amount required ro pay said taxes,
<br />assessments. insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower ar credited to Borrower on monthly installments of Furds. 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 Sae.
<br />Harrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice r: ,.• =lied
<br />by Lender to Borrower requesting payment thereof.
<br />Upon pa}:aent in fuIt of all sums secured by this Mortgage. Lender shall promptly refund to Borrower any Funds
<br />held'oy Londe=. If under paragraph 1$ hereof the Property is sold or the Property is otF:envise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Property or iG acquisitton by Lender, any Funds held by
<br />Lender at the time of application as a credit agatnst the sums secured by this Mortgage.
<br />3. Apaiication of Payments. i_inless applicable law• nrnvides otherwise. alt payn,en(s r_ ._ived by Lender :ender the
<br />Note and paragraphs 1 and 2 hereot shall be applied by Lender first in payment of amounts payable. to Lender by Borrower
<br />under paragraph Z hereof, then to interest payable nn the Note, then to the principal of the Note. and then to interest and
<br />principal an any Future Advances.
<br />4. Cbarges; Llens. Borrower shall pay all taxes. assessments and other ^harges. fines and impositions attnbutahle to
<br />the Property which may attain a priority over this ifortg ge, ar~d leasehold payments or ground rents. if any, in the manner
<br />provided under paragraph Z hereof or, it not paid in suci, manner, by Borrower making payment, when due. directly to the
<br />payee thereof. Borrawer shall promptly furnish to Lender ail 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 prampdy discharge any Lien which has priority over this Mortgage: provided. that Borrower shall not be
<br />required [o 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, or defend enforcement of such lien in,
<br />Legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereat.
<br />5. Hazard htsurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss by fire, hazazds 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 l:y this Mortgage.
<br />T7ie insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender. provided,
<br />that such approval shall not be unreasonably withheld. AI! premiums on insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof ar, if raL paid in such manner, by Harrower making payment, when due, ditzctty :a the
<br />rrt31(ran£e carr[er.
<br />Ail lnslfranCe pahCles and renewals r_hereat Shall bC m [CTtn accep{ab!~ to Lendei and shall tnClUde a s(andard mortgage
<br />_l~._ea ,n Env,., of and i.. arm acceptable t:, Le odor. Le. °- . :1 have= e light ~- vtd t„e ~tiiies grid renewa; tltcr2of.
<br />and~Borrower shall nro[nptly furnish to Lender all renewal notices and all receipts of~ paid oremiums. In the event of loss,
<br />Borrawer shall give prompt notice to ±he insurance carrier and Lender. Lender may make proof of loss if not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shalt 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 ar if the security of this Mortgage would
<br />be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrawer, or if Borrower tails to respond fo Leader within 3~ days from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance bonefits, 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 end Borrower otherwise agree in venting, any such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs !and 2 hereof or change the amount of
<br />such installments. If under pazagraph I$ hereof the Property is acquired by Lender, a!! right, title and interest of Borrower
<br />in and in any ituurance policies and in and [o the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the extern of the sums secured by this Mortgage immediately prior to such sale or
<br />acquisition.
<br />6. Pt~enatian dad A7aintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />shat= kip tF:e rrop~ zy in gaud repair and shall not eammit waste or permit impairment ar deterioration of the Property
<br />and shalt comply with the provisions of any lease if this Mortgage is on a leasehold. li this Mortgage is on a unit in a
<br />condominium or a planned unit development, Borrower shall perform ail of Borrower's obligations under the declaration
<br />or covenants creating or goverrang the condominium or planned unit development, the by-laws and regulations of the
<br />~ondaminium ar planned unit development, and constituent documents. If a condominitmt or planned unit development
<br />rider is executed by Borrower and recorded together wish this Mortgage, the covenants and agreements of such rider
<br />shall be iueorporated into and shall amend and supplement the Covenants dad agreements of this Mortgage as if the rider
<br />.were a part hereof.
<br />7. Protection of Leader's Security. If Borrower fails to perform the covenants and agreements contained in this
<br />Mortgage, or if any action or proceeding is cnmmettced which materially affects Lender's interest in the Property'.
<br />including, but not limited to, eminent do[ttain, insolvency, code enforcement, of arrangements nr proceedings involving a
<br />bankrupt Or decetieRt, tired Lender at Lender's option, upon notice to Harrower, may make such appearances, disburse such
<br />sums and take such action as is necessary to protect Lender's interest, including. but not limited to, disbursement of
<br />reasonable attorney's #ees and entry upon the Property to make repairs. If Lender required mortgage insurance as a
<br />condition of making the loan sectued by this Mortgage, Borrower shall pay the premiums required to maintain such
<br />insurance ir. effect until such time as the requirement for such insurance terminates in aecordance with Borrower's and
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