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<br />UrtIFORhf 4',~otrr:,~[atars, Borrower and Lender covenant and agile as fa;9aws:
<br />f. Payment o€ Principal and Iritertst. Harrower shall promptly pay when due the principal of and interest an the
<br />indebtedness evidenced by the Note, rsrepaymeat and late charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. Fonds far Tales and I~ttraace. Subject to applicable taw or to a written waiver by Lender, Borrower shalt pay
<br />to Lender on the day monthly irstaHments of principal and interest are payable under the Note, until the Note is ?aid in full,
<br />a sum (herein "Funds") equal to one-twelfth of the yearly Taxes and assessments which may attain priority over this
<br />Mortgage, and ground rents on the Property, if any, plus ene-twelfth of yearly premium 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 time by Ixnder an the Sasis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be 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 ffie Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, 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 />Mortgage that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such intertst to be paid, leader shall not be required to pay Borrower any interest or earnings an the Funds. Lender
<br />shall give to Harrower, 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 securiq• for the sums secured
<br />by this ;4orgage.
<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 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 />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If ehe amount of the Funds
<br />held 6y Lender shall not be sufficient to pay tares, assessments, insurance premiums and ground rents as they fall dot;,
<br />Borrower shall pay to Ltnder any amount necessary to make up the deficiency within 30 days from the date native is mailed
<br />by Lender to Harrower 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 Ig hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its acquisition by i,ender, any Funds he!~ by
<br />Lender at the ti=see of application as a credit against the sums secured by this Mortgage.
<br />3. Applirutian of Payments. Unless aooticable law p.ovides otherwise, all payments raceiv? t by r Pndtr ~~~t._+er ehe
<br />:Vote and paragraphs !and 2 htreat 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 tv the principal of the Note, and then to interest and
<br />principal an any Future Advances.
<br />~. Charges, Liens, $orrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
<br />the Property u•hieh may attain a priority aver this Mortgage, and leasehold payments or ground rents, if any, in tine meaner
<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 shall promptly furnish to Ltnder all notices of amounr~ due under this paragraph, and in the tvent
<br />Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrowez shall promptly discharge any tier. which has priority over this Mortgage; provided, that Harrower shall not be
<br />required to dischazge any such lien so long as Borrower shalt agree in writing to the payment of the ohligadvn secured by
<br />suet[ lien in a manner acctptabft to Lender, or shall in goad faith contest such lien by, or defend enforcement of such Lien in,
<br />legal pnxc[dings which optratt to prevent the enforcement of the lien ar forfeiture of the Property or any part thtrtaf.
<br />5. Hazard Insurance. Borrower shall keep the improvements now existing ar hereaf[er rrected cut the Preptrty lnsurrd
<br />against loss by firs, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br />and in such amounts and far such ptriuds as Lender may require; provided, that Lender shall not requim that the amotmt of
<br />Bach coverage exceed [hat amount of coverage required to pay the sums secured by this Mortgage.
<br />`Ira insurance cazrier providing the insurance shall be chosen by Borrower subject to approval by Lender; provided,
<br />that such approval shall not bt unreasonably withheld. All premiums on insurancr policies shall i~ paid in the manner
<br />provided under paragraph ~ hereof or, if not paid in such manner, by Harrower making payttttnt, when dui, d€r~tly to the
<br />rnsuraact carxier.
<br />All insurance pal:'ci ~ aad renewals thtreirf sliali err is `io-tai uectptablr to Lrttclcr anc shall include a standard mortgage
<br />ciausr m favor of and to form acttptatile to lynder. Ixnder .hall have the ri¢ht to hold 'hr ~l ~i~a ante €~ ~aa~ th~4c•f,
<br />and Flaxrawer shall promptly furnish to Ltnder ail renewal notices and all receipts of paid premiums, In rtte event pI IUs<,
<br />Harrower shall give prompt notice to the insurance carrier and 1_tndtr. Lertdrr may make prior of lass it not made promptiv
<br />by $orrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance pracerds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoration ur repair is economically feasible and the security of this Mortgage is
<br />not thereby impaired. If such restarauan or repair is not economically feasible oe if [he security of this Mortgage would
<br />be impaired, the insurance proceeds shall be applied to the sums secured by this Mattgagt, with the excess, if any, patd
<br />To Borrower. It the Property is ahandaned by Barmwcr, ar it Borrower fails to rtspcand to !.ender within 3G days from the
<br />date notice is mailed by Linder to Borrowrr that [he insurance carrier otters to stttlr a claim far itesuranct benefits, Ixnder
<br />is authorized to mlleet and apply' the insurancr pracetds at Lender's option either to restarauon or repair tit the Property
<br />or to the sums secured by this Mortgage.
<br />Unless Londrr and Borrowrr athtrw°ise agree m writing, any such application of prth:eeds to principal shall no[ extend
<br />or postpone the due dice of the monthly installments referred to in paragraphs 1 and ~ herraf ar change the amount of
<br />such installments. It under paragraph tti herraf the Property is acquired by Leader, all right, title and interest of i7arrciw'er
<br />in and to any' iusw'ance policies and in and to the prrxerods thereof resulting frotn damage to the Property prior to the salt
<br />ar acquisition shun pass to Lender to the rxttnt of the sums secured by this 1•lortgagr intmtdiattly prior to such salt or
<br />acquisition,
<br />6. Prestevatian and M1lainrenance o€ Properly; Leaseholds; Condamininms; Planned Ualt Developments. Borrower
<br />shalt keep tl.r Properfy in goad repair rind shall act ca.,tmiT waste or r~rmit impairment or deteriaeanaa of €he Property
<br />at:d shall comply with the provisions of any lease if this hlartgagt is an a leasehold, It this Mortgage is on a unit in a
<br />condominium or a planned unit drvelapmrnt, Borrower shat) perfornt all of Borrower's obligations Under the dtclutatinn
<br />or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the
<br />condominium or planned unit dcvelapment, 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 />abet! tit incorporated into and shall amend €tntl supplemenF the covenants and agreements of this Mortgage as if the rider
<br />were a part hereof.
<br />7, Prolcetion of Lemier's Security. If Borrower fails to perform the covenants and agreements contained in this
<br />Mortgage, or if any action ar proceeding is commenced which materially affects Lender's interest in the Property',
<br />~ineluding, but not limited to, eminent domain, insolvency, Cade enforcement, or arrangements ar prtxeedings mvoiving a
<br />bankntpt ar decedent, then Ixnder at Lender's option, upon notice to Borrower, may make such appearanets, disburse such
<br />stuns and take sut:h attioa as is necessary to protect Leaders intexest, including, but not limited to, disbursement of
<br />reasonabtt aetarnoy's fees and entry upon the Property to make repairs. If Lender required mortgage insurance as a
<br />condition of making the loan stcurtd by this Mortgage, Borrower shall pay the premiums required to maintain such
<br />irF3uraac€ in ~''est uai'iI such titan as rho requieerrrent far such insurance terminates in accordance with Borrower's and
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