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<br />lixrr+oxnt Cover•ienrs. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Pninclpal and Interest Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the No[e, prepayment 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. Faads for Tares and Lisuraace. Suhieci to apphcablc law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly installments of principal and interest arc Qayable under the Nott, until the Note is paid in full,
<br />a slim (herein "Funds") equal to one-twelfth of the yearly rases and assessments which may attain priority over this
<br />Martgage, and ground renLa on the Property, if any, phis ane-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 />dine to time by Lender on the basis of assessments and hills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the depasits or accounts of which are insured er guaranteed by a Federal or
<br />state agzncy (including Leader i# Lender is such an insti=,ut~en-l. Lender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rcnn. Lender mac not charge for so holding and applying the Funds, analyzing said account,
<br />or verf;ing and compiling said asxzsstrnrts dad hilts, unlc~ Lender pays Harrower interest on the Funds and applicable law
<br />permits Leader m make such a charge, Borrower and Lendtr may agrez in writing at the time of execution of this
<br />Mortgage that iatertst an ter Ftutdc shall t+e paid to Borower, and unless such agreement is made ar applicable law'
<br />requires such interest to be paid, Ltndtr shall nrn It required to pay Borrower any interest ar earnings on the Funds. Lender
<br />shall give to Borrower, without chance, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />- parpose for which tack debit to the Fut•.ds was made. The Funds arc Qledgcd as additional szt.urit}' for the sums secured
<br />by this '.vlartgage.
<br />If the amount of the Funds held b}' Linder, togethzr with the futurz monthly installments of Funds parable Qrior to
<br />the due dates of tads, assessments, insurance Qremiums and ground nano. shall excrd the amount rtquired to pay said taxes,
<br />assessments, insurance premiums and ground rznu as they tall due, such excss shall be, at Borrower's option, tither
<br />promptly repaid to Bormwtr or credited to Bormw'er on monthly installmrnu of Funds. if the amount of the Funds
<br />held by Leader shall not be suffiaeat to pay texts, assessments, insurancz premiums and ground riots as the}' fall due,
<br />$om'+te=tt shall pay to Lender any amount r:e;~tssarv to make up the drticiency within 3t) days }nom the dart notice is mailed
<br />by' t e~ a_' to Bormwtr regt:psting payment thereo5.
<br />L'-pon paymeai ut full of all sums secured by this :tiortgage, lender sha12 p:nmQtly rebind to Barrow'er an}' Funds
<br />held by Lender. If under paragraph 1F boreal the Proptm~ is sold nr Eht Praptrty is otherwise acquirzd by Lendtr, Lendtr
<br />shall apply, no later thee itaatedisiel- prier to ihz salt of the Property nr its acquistuon by Linder, any Funds held by
<br />L>awrr ar i?}e tme of appii:,stion as a credit against ihz sums stcuttd by tots ~iongagc.
<br />3. Appliratioa ~ P~'meats. Unless applivablz law provides otherwise. all payments rcceivtd be Lender under the
<br />\. it and paragraphs i sod '_ bettof shall be applied 6y Ltndtr first ir, pa} moot ,,f amounts payable to Lender by Borrower
<br />Ltndtr paragraph 2 ht:reaf, then to innterest pavablz on the \ate. then to the principal of the Nott, anal then to intutst and
<br />principal an any Future .4dvattcei.
<br />3- Cox I3eas- Borrower shall pa} all taxis, assrssmenu and ether charges, fiats and impositions attributable to
<br />the Propem• whiff may errata a priarit}' nvzr ibis ?sortgage, and leasehold pa}menu or ground rents, if an}•, in the mancer
<br />Qrov'idtd mtder paragraph '_ hereof ar. if oat paid m such manner, h. Bormwtr making payment, when dtx, directly to the
<br />payee theteaf. Borrower shall pr't+mptly furnish to Ltndtr al natives of amounts due under this paragraph, and in the went
<br />Bozmw~ shall make paymtnt dirzctiy. Bor.:;ax-tr shall promptly furnish to Lrnder receipts evidrrcing such payments.
<br />Borrower shall prompth• discharge any Iten uhtch has pnoratti~ n.tr this !morgage; provided, that Borrower shall not be
<br />reign:red to discharge any su.;h lirn io Icng as 13irrowu shall agree in wruing to the pay enrol vi ihz obligation secured by
<br />sorb lien in a mattrtu acceptable to Ltndtr, or shall in Goad faith contest such lien by, ar deftnd enforremtnt of such lien in,
<br />~a lu-acedings which operate to prevent the znfnmzmrnt ai the lien nr forfeiture of the Property or any part thereof.
<br />5. Harald ln~tt®tr. Harrower shall keep the unpmvements now existing or hereafter erected on the Prnptrty msurzd
<br />asaiast Ices by file, hazards included within the titer "extrndtd :.overage", and such athzr hazards as Lender may require
<br />add to !arch amounts and tar such periods as Lendtr may rtquirt; pnwirtd, that Linder sltali not require that the amount of
<br />stash a~;erage ezaxd rltat amount of cc+vtragr rtquired to pay thz sums szcurrd 6y this Miartgagt.
<br />The insurance car'ritr providing the insurance ;hall he ch.sen by Hairrower subtler tie approve! hp Lrnder, provided,
<br />that such appraval shall aoi be uttt•easanabir withheld- _411 premiums on insurance policies shall he paid in the manner
<br />Pr>v°id~ under paragraph '_ ]tared{ or, tf dot peed is sorb manner, by Sorrowtr malang payment, whzu dut.:iitecth• to the
<br />utsuraact rattier.
<br />All irisuraax palitaes and renzwas there, ~i shall bt an intro a~xptable to Lrnder and shall inaudz a >tandarai mortgsgz
<br />~le,a.. is fever of dad in =oaxrt as^.epzahlt to Lrnder. Lendtr :hatl have tltr tight tai hold rhr pelletal and renewals thtreaf.
<br />dad Barmwtr steal pr'ampily furnish to Lendtr ati rtntwaS n.~uces and all receipts of paid premiums. In the tvrnt of lass.
<br />Barrows shall aryl nramnt no1,::t to rltt inaurar*cz ; aerate and t Winder. Lsndt.r ma} make n _.. f la:,s if nci ntad° ^ .n:ptly
<br />b}' BotsaA~er. -
<br />L'nl~ Ltadrr dad Borzew-er atherx-ist a$rrr en analog, i,~<uranaz -rak~tds shill It a,plizd to rtstaratian or repair of
<br />xlu Ptx~pert}' damaged, pm+•ided stn:h resiorau.~r, ar rrpau a economically travbY, and tttt secutit}' of this Mortgage is
<br />nM thet•eb} impaired. if stxh mta*ratior, or repatr is not e.,~r.. ativslh- Itaiibie ate it the sr.:urit} of this 4iortgage would
<br />bt ttapaired, the insitraace pra,xds sttall bt applttd t: rltr sums secured b}' this Mongage, with the excess, if any, paid
<br />ai Hor•rawxr. if the Proper[} is atvandnazd by Boa-r.~wrr, r ,t Ha.rawtr fails t.~ rtsp. nd to Lender within 3D days from the
<br />date rtari.-t is mailed b} I-ertt~.r to Borrr}uxt that the tnsitr~ancr carrtr ,~titn to state .t :kaim for insurance ltnefits, Lrnder
<br />is at€thor~d to ral}ect deed apply tlst in>uran,e proti~xos at LcaJer~s opnon r+thrr to reswrateon or repair of thz Property
<br />o: m r9e lams stcuted by this Martgagz
<br />Uttkss l.tndet add Hor'raavtr azhtru~tsr agree .n w;:tsrtg. easy loch application. of pr.u-ttds to pi mcipal shall nut extend
<br />at poaxpette the dot date of for monthl; _asaail*atnts ..=zfrrrery :,.. ; paragraphs l ,t ? harlot or charge the ama~unt of
<br />stash hvstaha+>_^?>. if ura~r paragraph i c hereof Litt Prapzm is .acquuzJ h; Lendtr, jell nght, title and intrrzst of Borrower
<br />iu and Yo tai :~urattx pdiciev dad .n anti t:,he t...,ctr;;s 't'~erer1 :esuhing Tram damage io the Pra>pzri} prior to iht sale
<br />or acga=i<;m ~ shall pass tU LeaOtr to the zxttnt :~# thz sutras secured l:} this Diortgage immediately prior to such salt nr
<br />acgwsit~n.
<br />~- Ps+ney-r'atloa aai Naisneaaecz oI Prvpenr'; La~srhai~; C-uodomc~t.a..svy 1Maaaed L~alt Devfloptntni5. Ba~+rrau2r
<br />shall keep the Praptrty is gated repair and shall not commit waltz ar gertttir impairment ar deteriaratiun ei the Propett}
<br />and shall tz~vtaply with the prrn=is:ons o[ any latex ii this Mangagt es on a Itasehold. if this .Liortcagr is ease unit in a
<br />eaxi3omiaitua or a planner unu dtx=elopmrnt, Baxrawer shall perform all of Barrower's obtigauons under 7?:e drelaratian
<br />or rvveaaats crtatitsg ar govtrntng the candvimrmum or planned emit development, the by-laws anal regulatia.ns of the
<br />wiudaminium or' planned triter development, :utd cnnsiitucm aiacitrnents. if a condominium nr plaanzd unit Jeselnpment
<br />rtrer is ese:uted h}• Bottuwnr grid recorded tegethtr with this Iviangagz, the covenams and agtetmenn of such rider
<br />shall 6e ittactparated taro and snail ;amend and suppktttem the cavrnants and agreements of thrs Riortgage as rf the rider
<br />were a pan btteeif.
<br />~• Tt'llMZtiaa of i-gdet's SecaeBy. ]f Borraw^tr fails to pzriornt the cavenants anJ agreements aortainzd ir. this
<br />7r6aettgge, alt if day aerioa ar praeeediag is catnrtttnced which matzriatly afttcts Lender's rnterest i^ the P•optrty,
<br />iadtxliag, ben nm limited ta, eminent domain, insolvency, code rnforcement, or arrangements or nraxeedings iuvoleng a
<br />baaknt}a to Wit, iknit Leatltr at Leader's option, upon ntuice to Borrower, ma} make such appearances, disbar=z such
<br />loans sitd tats wilt aetioa as it aaessary to protect Lender's interest. including, but not limited to, disbursement of
<br />teasanshle atroraey's foes add entry upon [Ix Propeny [o make reQairs. if i.endzr required mortgage insurance as a
<br />couditioa of utalriag the loan secured by this Mattgage, Bormwtr shall pay the premiums required to mainwm such
<br />t->x^- =^^~ is edett until web time as the -quirttaeat far such insurancz trrmmatts in accordance with Borr~wwer's and
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