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"IUars~,r,~~~R:r,rs ~f;'i3w~sr.~rs-ru. Bear:r;:^x~r and Lctt,~r cvven:ans rhru„ ag;rtc ~ti fc}law;
<br />f°au;yma:ut,f oIP Pril~n~ar&Ipratl aired Inter. kicr~rrcxxzr nlhal3 proretprclt Bray wltt;n, ~Jite =,bi. ;trdn~c:ipall otl' and inrterr~.~,s oat fhfr
<br />u.oidebt,edrtaams e~riii;lenucea~~! IEoyr ~tlte hfo~ti~t, prepayment and late chargies at provise<d .ra ~hi~re '~;ortas, and the priru:ipal oaf awed intenesit
<br />ar, any Futurt: ~..,.ances s:.:.ured by thts Ifcrtgage.
<br />2. Ftrn;fis for Taxes alts ie~rwn.~o_ 3e=€ v~ applile law ar €a a '+ri€ten waiver by I-ender. Harrower shag pay
<br />to Lender on the day monthly installments of principal a„d interest are payarfsle =under the Nau, until the Note is paid in full.
<br />a sum !,herein "Funds") :;goal to one-twelfth of the yea<iy taxes and asxssrnents whisi> may attain priority ever this
<br />Mortgage, and ground rents an the Property. if any, plus ant-twelfth of yearly premium installments for hazard insurance.
<br />plus one-twelfth of yearly premium installments far mortgage insurance, if any, all as reasonably estimated initially amI from
<br />time *.o time by Lender on the basis of assessments and hilts and reasonable estimates thereof.
<br />The Funds shall b> held in as instkurion the deposits ar accaunu of which a*e insured or guaranteed by a Federal or
<br />sin*.e agency (ircinding Lender if Lender is such an institution). Lender shah apply the Funds fo pan said taxes, assessments,
<br />ins-u.°ance premiums and ground rents. Lender may not charge far so holding zed applying the Funds. analyzing said account.
<br />or verifying and compiling said assessments and bi}ls, 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 st the time of execution of this
<br />Mortgage that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />~`te requires such interest to be paid, Lender shall not ire required to pay Borrower any interest or earnings an the Funds. Lender
<br />shall gave to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds ales the
<br />~rrpase for whack each debit to the Funds was made. The Funds are pledged as additional set-urity for the sums secured
<br />by this Ivfortgage.
<br />If 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 fo pay said taxes,
<br />~. assessments, insurance premiums cad ground rents as they fall sus, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If [he amount of the Funds
<br />held by Lender shall eat be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fait due,
<br />Borrower shall pay to Lender any amwnt necessary to make up the deficiency within 3G 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 Furs~s
<br />held by Lender. IS ~.nder paragraph 18 hereof the Property is Bald ar the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later t'ran immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Lender at the time cf application as a credit against the sums secured by [his Mortgage.
<br />3. tkppl:catian of Payments. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Ncte a„ ragraph , .u,d 2 Ite;eaf 'all be applied by Londe,- 5rsr =n payment of mounts y..y ~ to Lerdbr by Bcrcwer
<br />undee paragraph 2 hereof, 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 />d. (:herges; Liens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
<br />fire Property which tray attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or, if apt paid in such manner, by Borrower making payment, when due, directly to the
<br />payee thereof. Borzower shall promptly furnish to Lender al! notices of amounts due under this pazagraph, 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 lien which has priority over this Mortgage; provided, that Borrower shall eat be
<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, 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 thereof.
<br />5, Platers Insarance. 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 soured by this Mortgage.
<br />The insurance carrier providing the insurance shalt he chosen by Borrower snb;eet m approval by Lender provided,
<br />[hat such approval shall not be unreasonably withheld. All premiums on 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 />instu-ance carrier.
<br />Ail insurance paiicic-s and renewals theruaf sitati be ir. torm atceptabic to Lender and shat! include a standard mortgage
<br />cisuse in favor of and =.;= farm acceptable to L=nd~r. Lender shalt have rite right to held the policies and renewals thereof,
<br />and Barron=er sue- - rromatly ~~. t±,sn to ~ --. ~.._.^avsa; notes a .~ _.. receipts of paid premiums. In the event of los ,
<br />Harrower shall gzvn grompt u_ ~~e m -tt>:~in~s±~rm~ce car*~r a=nd I.ende{~~L~;~s.'•Fr may rn~ke proof of loss if not made Lromptly
<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 daznaged, 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 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. tf the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 3G days from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier afters to settle a c{aim far 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 />ar to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or postpone the due date of the month]}' installments referred to in paragraphs I and 2 hereof or change the amount of
<br />such installments. If under paragraph 18 hereof the Property is acyuired by Lender, all right, title and interest of Borrower
<br />in and to any insurance policies anti in and to the proceeds thereof resulting from damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the extent of the sums secured by this hiortgago immediately prior to such sale or
<br />acquisition.
<br />6. Presenafion a~ Afttlntenaace of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
<br />shalt keeg the Property in goad repair and shall not commit waste or permit impairment or deterioration of the Property
<br />and shall comply with the provisions of any lease if ehis Mortgage is on a ieasehoid. If this Mortgage is an a unit m a
<br />r.a~tdeminiun ar a planned ttnit development, Borrower shall perform all of Borrower`s ahligatians under the declaration
<br />or covenants creating or governing the wndominium or planned unit development, the by-laws and regulations of the
<br />condominium or platuted unit development, and constituent dacumen€s. If a condominium or planned unit development
<br />rider is executed by Borzower and recorded together with this Mortgage, the covenants and agreements of such rider
<br />shall be incorporated into and shalt amend and supplement tSe covenants and agreements of this Mortgage as if the rider
<br />were a part hereof.
<br />7. Protection of Loadtr's Security. If Borrower fails to perform the covenants and agreements contained in this
<br />l~fortgage, or if any. action or proceedin, is commenced which materially affects Lender's interest in the property.
<br />including, but not limited to, eminent domain, insolvency, code enforcement, ar arrangements or proceedings involving a
<br />bturkrupt er decedrrtf, then Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such
<br />struts and take such action as is necessary to protect Lender's interest, including, taut nM limited 20, disbursement of
<br />reasonable attorney's fees and entry upott the Property to make repairs. If Lender required mortgage insurance as a
<br />condition of making the loan secured by ehis Mortgage, Borrower shall pay the premiums required to maintain such
<br />insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and
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