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9„Pa~a,ttnr.„'~ptu~ &~'~[,vfi uia,~fPit9'15. Jfd:rrrsrraer ar[dl 9xni?.•~r i.~avrr~anrc ara~ agree trs fo?In»~wr~~s:
<br />s. Pa}•tart!~tt rrp'~ If"rb!tacit rs',a# 'fratex~t. Bs=rr~~rrer t~~,a'l pr~rrtntp: s via" ~»;'.c'r~o u:re •?~~ p^~-ip~al of and is ~,.~as tY~~ra ~,~
<br />in~•s..bredn~s eaid'eraced b^v the "v'o'te, prepayment a.;u" late charges as pravtded in she *+~e, and the principa3 of -~ interest
<br />an any F;~ture .Advances secured by this Mortgage.
<br />2. Funds fur iwcts atsd 7nsutance. Subject to applieable law or to a written waiver by Lender, Barraw._ shall pay
<br />,.mot to lxnder cr; the day manthl}• installments of principal and interest are payable under the Note, until the Nate is paid in full,
<br />a sum ~nerein "Funds"} equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />f~ Mortgage, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus aoe-twelfth of yearly premiumsnsfaltments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to time by Lender on the basis of assessments and bills and reasonable estima?es thereof.
<br />The Funds shalt be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency firctuding Lender if Lender is such an institution). Lender shalt apply the Funds to pay sa'sd taxes, assessments,
<br />~ insurarce premiums and ground rents. Lender may not charge fo,- so holding and applying the Funds, analyzing said account,
<br />ar =rerifying and compiiirg said assessrz;enu and bills, unless Leader pays Borrower interest an the Funds and applicable taw
<br />pet•m!ts Lender to make such a charge. Borrower and Lender may agree in writing at 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 />_ 'ee requires such interest fo be paid, Lender shat( not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />.shall give to Borrower, without charge, an annual accounting of Lhe 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 for the sums secured
<br />. by this Mortgage.
<br />if the amount of the Funds held by Lender, together with the future monthly irstallments 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 fal! due, such excess shah be, at Borrower's option, either
<br />promptly repaid to Sorrnwer 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 :cuts as they fat! due,
<br />Borrower shalt pay to Lender any amount necessary to make up the deficiency withir. 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 shalt promptly refund to Borrower any Fu?nos
<br />_ held by Lender. If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Ler;:ier
<br />shall apply, no later ffiar, immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Lender at Lhe time of application as a credit against the sums secured by this Mortgage.
<br />_ 3. AppGca6aa of Payments. Unless applicable law provides otherwise, ati payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note., and then to interest and
<br />p_ncipai on any Future Advances.
<br />~. Charges; LEens. Borrower shalt pay all taxes, assessments and other charges, fines and impositions attributable to
<br />the Property which may attain a priority over this Mortgage, and leasehold payments cr ground rents. if any, in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrewer ^raking payment, when due, directly to the
<br />payee thereof. Borrower shat! 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 lien 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 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. Hazard Insurance. 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 />suer, coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
<br />,- Tick insurance carrier providing the insurance shalt be chosen by Borrower subject to approval by Lender; provided,
<br />that 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 />insurance cazrier.
<br />AL insurance policies and rene•~als thereof shat: be i° form acceptable t, Lender and shat! include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lender shall have the right [o hold the policies and renewals thereof,
<br />and Borrower sraii promptly furnish to Lender ail renewal notices and ail receipts of paid premiums. In the event of toss,
<br />Bortawer shall give prompt notice to the 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 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. 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 to Borrower that the insurance carrier offers to settle a claim for insurance henefits, 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 shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs I and Z hereof or change the amount of
<br />ouch installments. ;f under pazagraph l8 hereof the Property is acquired h} Lender, all right, title and interest of Borrower
<br />in and to nay insurance policies and in and to the proceeds thereof resuking from damage to the Property prior to the safe
<br />or acgtisition 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; Cone!ominiums; Planned Unit llevelopments. $orrower
<br />shah keep the Property in good repair and shall net commit waste or permit impairment or deterioration of the Property
<br />and steal! comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a snit in a
<br />condcmirriurr ar a plantied unit developmsnt, Borrower shall perform all of 8arrower's abligaiions under the declaration
<br />or covenants creating or gaverniag the condominium or planned unit development, the by-laws and regulations of the
<br />rnndominium or planned unit development, and cans[ituent documents. If a condominium or planned trait development
<br />rider is executed by Borrower and recorded together with this Mortgage, the covenants and agreements of such rider
<br />shalt 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, Protecdoa of Lender's Security. ]f Borrower fails to perform the covenants and agreements contained in this
<br />14inrtgage, 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, code enforcement, or arrangements or proceedings involving a
<br />bankrupt or decedent, then Lender at Lender'x option, upon notice [o Borrower, 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 ai
<br />reasonable attorney's fees and entry upon the Property to mai,e repairs. If Lender required mangage insarsree as a
<br />condition of making the loan secured by this Mortgage, Borrewer shall pay the premiums required to maintain such
<br />insurance in eff~t until such time as the requirement for such insurance terminates ir. accordance with Borrvwer's and
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