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<br />Uxrnorut CovExnxas. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Pdrteipal and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and fate charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />1 Fends for Tales and Iasalance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly installments of principal and interest are payable under the Note, anal the Note is paid in full,
<br />a sttai (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and gmutid rents on the Property, if any. plus one-twelfth of yearly premium installments for hazard insurance.
<br />plus one-twelfth of yearly premit2m installments fur mortgage insurance, if any, all as reasonably estimated initially and from
<br />tint to time 6y Lertder on the basis of assessments and bills and reasonable estimates thereof.
<br />'Ihe Funds shall be held in an institution the deposits or accounts of which are instued or guaranited by a Federal or
<br />state agency (including Leridtr if Lender is such an iostitution). Lender shaft apply the Funds to pay said taxes, assessments,
<br />insurance prtiniutns and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless Leader pays Harrower interest on the Funds and applicable law
<br />pertnita Larder 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 aoplicabit law
<br />etAtarts such interest [o be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrowu, without charge, an annual acca~unting of the Funds showing credits and debi6 to [he Funds and the
<br />purpose for wbtch tech 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 LemieG together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessmwts, itintrance premiums and ground renic, shall oxcced the amount required to pay said taxes,
<br />asarsmeuts, irtstrtBntx ptemiutas and ground rents as they fall due, such excess shall be, a[ Botrawer's option, either
<br />promptly repaid to Borrower err -redittd to Borrower on monthly installments of Funds. If the amount of the Funds
<br />heM by Lender shall not be suffiriwr to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />]3orrawtr shall pay to Cruder any aatount accessary to make up the deficiency within 30 days from the data notice is mailed
<br />by Leader to Barrorver requadng payt2unt thereof.
<br />Upon pa}mmt in full of ail Sams secartd by this Mortgagt, i_tnder shalt promptly refund to Borrower any Funds
<br />", 1,t Im-l.,r I_3 ..sd~ n.raa..ssA 24 l,s~..:f z6a ~:ild ~,.~ .1~ 1#r.,r..:rt: : ..f M_:~:~ u m.l by t nn.tr_r / Pn~_r
<br />s1saB apply, r2o later rhea immediately prior to the sale of the ProptnY or its acquisition by Lender, aoy Funds held by
<br />L~dtr at the tirttt of application as a etedit against the sums secures! by this Mortgage.
<br />3. A~iiratita of Unless applicable law provides othtrwist. all payments received by Lender under Lie
<br />i\rttt and patsigrapbs 1 and 2 herarf shall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, thm to iatertst payable as the Nate, then to the principal of the Nat, and then to interest and
<br />plindpal oa any Futint Advarxes.
<br />3. C3rges; Liens, Borrower shall pay ail saxes, assessments and other charges. 6t2es and impositions attributable to
<br />tLe i?ropetty which may estate a priority aver this Mortgage, and 3eauhold paytrunis or ground rants, if any, in the n2an,u.r
<br />n tmdrr paragraph 2 hcstof or, if not paid in stxh manner, by Borrower making payment, when dtie, dirtctty to the
<br />payee thereof_ Hort~a~ shall promptly ftuaish to Lem-kr all erotica of amounts dire under this paragraph, and in the event
<br />Bmvwv s>r:tl make paymem dirtxzly, Borr>wer shag promptl} famish to Linder rtt~eipu tvidenting such payments.
<br />Bmaazz~ shall promptly discharge any lieu which has prwrity aver this Mortgage; provided, tfiat Horrocver shall no; be
<br />rngtlized m dist:hargt arty Basch lien sa long as Burrower shall agree in writing m the pa}attnt of tfie obligation secured by
<br />each Bm itt a rrraaner aaoepuNe to Lender, err shall in good faith rontts[ such lien by, ar deftnd tnfarcement of such lien in,
<br />legzd P whidt operate to pttvmt the enfor~ent of the lien or forfeiture of the Pr~ptrty err any pan thereof.
<br />S Haeatti Lwowee. Banower shag keep the irnprovemarts now existing err hereafter erected an the Property insured
<br />agaiau lass by fns, haza:tls ir2cluded w~thia the tam "extrnded ayvtrage'", ar~i such otbu hazards as Lender may require
<br />and ~ strh atnou~ and fm such pitrmds as Lender may require; provided, that Cruder shall na: require that the amount of
<br />~ coxteaa+e ex~roed that amount of coverage itgr:ned to pay the sums secued by this Mangage.
<br />Tt3e iaaitraacs caatiier ptoviditig the iasirraaae shag be choser2 b}' 13orrowtr zubjett to approval by Lender provided,
<br />~ such aitpnvvad steal! r2ce bt tmrrssonably withheld. Ail praf»ums on ittsuranct paticies shall be paid in the manner
<br />pttl+wded undo' paragraph 2 herarf or, if acu paid iii such mantltr, by Btumwer making pavsnenl, when due, dite.:dy to the
<br />ienuaane .
<br />A)i i ptdieics aed rtatwais therex2f shalt be in foam atxeprabk to Lender and shall include a standard mortgage
<br />r2atta is Iavar of earl m fcem a~eptable to Lends. Leader shall tease the right ro hNd the policies attd rtntwats thereof,
<br />and $atst~rsa shall pm®}nls ftanisli to Ltodrr a!1 rrntwai notim and all t2xrie2ts of paid prciniurns- in the tvYnt of loss,
<br />laarl+esvc shall give pr+arnpt tlntU7 to the insttrartee caZ7'le: and Linder. Leader may mate ptxvt of lass if eat malt promptly
<br />by Batlsaa.
<br />Unles lsader and Baxrowrt oehawizt egret in writing, inswaoce prt2ceeds shat! be applied to testaration of repair of
<br />tLe Prapary • provided such tesrolatiaa err repair is ecaeromicaBy feasible and the saurity of this Mortgage is
<br />eat ehtaaby aittd. If rutarauon or repair is ih~t ec~'2isamicaUy ftasibk err if the security of this Mangage would
<br />Ile itapeired, the insurance praoea3s shtil ix appl~d to the sutra soured by ibis Mortgage. with the excess. if any, paid
<br />to Borrcwars_ if the Ptopaty is abandoood b}' Barterwer, ur if Barruwtr fails ra resparnt to Lender within 30 der}s from the
<br />date nc+tioe is mailed by Lmdtl to Bnrrowxr slut the insurance carrier offers ro sack s claim far insuratut tie~fits, Lender
<br />is as~ximd to rx a~ apgy rfze insurat>rcc prorxeds at Lender's option tither w restoration err repair of the Ptnperty
<br />ctr a3 iht st/ms Beaufort lrj tlta Mortgage.
<br />U~ Lends and BortowTr otberwist sgrx to writing, ary Bach applipi2on of prcK~eeds to principal shall not extend
<br />err pttatgeix the dire daee tlf the taa22tl2f} ;r2stallmentx referral to in paragraphs 3 and ? hrxaaf err change the amount of
<br />sech ittwsilmtate I# tinder patligaph t 13 hereo# the Prs9pert} is acquired by Leader, all right, tiBe and interest of Borrower
<br />is and to ~y irtanancx pair and in aed to ~ prcatads tlttrtai resulting from damage to the Propeny Prior !o the salt
<br />tlr Shall peen to Lender to the extort of the Brien secured by this Mortgage im2nediattly prior to such sale or
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<br />C 1RaeRSradaa ai Alainasraee d tropeatp; IrattYold:C Condomioi®, Planned Uri Devdopmtnis. 8arrower
<br />t~aB IdoeQ the Properly ~ good rtpair and shag rice cammir want err permit impairment or deterioration of the Property
<br />nerd slzsB ' witl; else piravisitms ~ troy trace if this Mortgage is an a leasehold. if this Morigagt is an a unit in s
<br />tmdomi~ or a pbiaaed uaiY dcvel~nr, Borrower shall ptrfarm all of Borrower's obligations under the dularation
<br />m ~' ~ ~ ~ ca dtstttisi;.~a~r ptarntd unit dtvdapment, t}ie by-Isws and iz:g;ilatians of the
<br />t2! plaaepd trait devritaptnent, and canstitrient daeumems. !f a condominium of planned emit development
<br />rider is mad b3' B amt raoeaded tzvgetlier with this Mattgage, tits mvtnanis and agreementx of such rider
<br />alaap ba irgcntpotaled i~t a~ shall aaund and cuppkaxm tfx covenants and agtoetaenu of this Mangage as it tM rider
<br />was a part 6an>rtf,
<br />7. lsai~ea of Latatlellt 7• If Bolrawar fails to perform Cbe covenants and agreements contained in this
<br />1/ettpya or iF nay aaxat or praoeediag rs cotriatenx2i which tnateriaiiy affects Lender's interes' in the Pr apeny,
<br />SOeIn~, b1a eat limited to. atniseaat damaius, iteudvelity, code en#ortxmeni, or arrangements err prweedingz involving a
<br />6as~t tx dtaxdmt. t~;tt Laardc at Larder's t2ptim2, upon notioe to Borrawtr, tray make such apptarancp. disburse such
<br />eater a3sd tadte terJ9 aefion as is Bnxssaty to protect I.erkler's interest, including, but not limited to, disbursement of
<br />egae~rle at~tee}ra ftxs and aorrp tipwt ttse Property to make repairs. if Lender required mortgage insurance as a
<br />evnditiea ill ti the lose seeatod by YbiS Moltgagt, Horrawir shall pay the premiums required to maintain such
<br />i fe i~ut netllf sudt tae as the r~vuiromeet for such insurance terminates in accardanct with 33orra~wtr's and
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