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<br />Utvrnottat Coverrstv'rs. Bonower and Lender covenant and agree as follows:
<br />1. tayment of Princlpd and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indeb[edtiess evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on aay Futtue Advances secured by this Mortgage.
<br />2. ~ for Tortes a~ hrwraace. Stiibject to applicable law ar to a written waiver by Lender, Borrower shall pay
<br />to Leader on the day monthly installments of principal and interest are payable under the Note, until the Note is paid is full,
<br />a stem (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 Propeny, if any, plus one-twelfth of yearly premium installments for hazard inswance,
<br />plus one-twefth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to tune 6y Leader on the basis of assessments and hilts and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are instued or guaranteed by a Federal or
<br />state agency fiucluding Lender if Lender is such an institution). Lender shall appl}' [he Funds to pay said taxes, assessments,
<br />insurance ptsrtritans and gmutid rents. Lettder may not chazge for so holding and applying the Funds. ana}yziag said account,
<br />or verifying and ~rompiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a diargi. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall be raid to Borrower, and unless such agreement is made or applicable law
<br />rtquira such interest to be paid, Leodir shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shag give to Sor:uwer, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />put'pose far which each debit to the Eunds was made. The Funds are pledged as additional security ter the sums secured
<br />by this Mortgage.
<br />If the amount of the Ftinds 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 psy said taxes,
<br />assesaneats. ituurantx premiuau and ground rents as They tall due, such excess shall bt, at Borrowers option, either
<br />promptly repaid to Bormwtx ar credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lera~r shag naF be sufficient to pay taxes, assessments, insuram-e premiums and ground rents as they tall due,
<br />Borrower shall pay io Lender any amount necessary io make up the deficirnc} within 30 da}'s tram the date notitt is mailed
<br />by Linder io Borrower regtxsting pa}orient thereof.
<br />Upon pavrnent in frill of all sums secured by this 3longage. Lender shall pn._tp8y refund to Born,wer any Funds
<br />held by Linder. I# under paragraph ]g hereof the Prapen}• is sold or the Propetm, is athc,wise acquired by Lender, Lender
<br />shall apply, tw lath than immediately prior to the sale of the Fropem' or its acquismon by Lender, am' Funds held by
<br />Lrndir at the flax of atnilicatiart as a credit neatest the sums secured by this Mortgage.
<br />3. AptKcatiar of Pq~aeats. Unless applicable law provides otherwise, all payments received by lender under the
<br />Ntate next paragraphs 1 and . hetsof shall be applied by Lcndrr first in pa}ment o7 amounts payable w Lender h}' Harrower
<br />under paragraph 2 hetiof, rhea to iniemi payable an the Nave, then to the principal of the Note, and then to interest and
<br />pritrcitial oa any Futurt Advances
<br />i ~ [leas. Bormxtr shall pa}' all taxis. assecstrtenrs and other charges. fines and impositiaas attributable to
<br />the Pt+opaty which tiny attain a priority' osw this Mortgage, and leasehold payments or ground rents, if any, in the manner
<br />provided outlet paragraph '_ htrsof ar, if na paid in such manner. ht Borrower making pa}ment, whrn due, directly to tht
<br />payee therinf. Sarrowrr shalt promptly furrtish to Irndir all rrott`^ex of amounts due under this paragraph, and in the even[
<br />Borrower shall make payment drrw-.h_ Borrower shall prompt!} famish to Linder reripts evidencing such payments.
<br />Bortawr:r shall pra®ptly dischazgt any lien uieiC}t has prxvnty over this Mangage: provided, that Barrawer shall nut be
<br />required io discharge any such lien so k,ng as Sorrcwer shall agree in writing to the payment of the obligation srcurexl by
<br />such lien is a mama' acceptabk to Lrnder. ar shall in gaud faith comcst such lien try, or defend enfomemrnt of such lien in,
<br />legal ,proceedings xhich operate io prevem the cntarcenient of the hen or forfeiture of the Propert}' or an}' pan thereof.
<br />S. Raat+i Marie. Borrower shat! keep the tmpmvemenis nix rxistm~ or hereafter enticed an the Prapern' insured
<br />against Loss l+y~ fits, harards iacltrded wiUnm the term "rvtrndid coverage", and such ether hazards as Lcndrr ma:~ reyuirc
<br />and is sti3r atamrms and far such prrisds as Leadez stay require; provided, that Lender shall not require that the amount of
<br />such octveralsr esxed that amount of cavrragt riquirid to pay the sums secured by-this \fongage.
<br />The inatrraacx carrier prtividirtg the insurance shall bi rhtxcn by Berraxar subject to approval by I_rnder; provided,
<br />thu stub approval shall trot l+c unrsasanabty xritlrlteld. AA premituns on irsurance policies shall be paid :,r the manrxr
<br />ptrnidad trtider paragraph Z hermt' ar, tf not paid in such ntanrter, by BorrawYr making payment, when due. directly to the
<br />ittsurartt ratri~.
<br />AB :i.n ,.r.. policies and renewals thereat shall ix: in form acceptable to Lcndrr and shall include a standard mongagr
<br />a'datm iii favor at and in farm acttptable to Leader_ S-tndrr shall have the right to hold the poli~ir' and renewals thirrnf.
<br />and Httt7row~ shall panmptly furnish to Linda all renewal nota<^es and ail receipts of paid premiums. In the e+rnt of loss,
<br />Btrrrnais shall give pintapt nature to the iMUrutiro carrier and Lendes. Lrnder ma} make pnxv of km i{not etude promptly
<br />by Bearnttres.
<br />Urhas Lerch and Borrower txhetw'ise agree in writing, insurance pr,`,reds shalt be applied io resxvation or repair of
<br />the Praywty damaged, prnvidad Bitch rtstontian or repair is a't~aamicall} feasible and the security of this Mortgage ii
<br />sot theaeby iaq+airsd. I# Bitch tistoratiaa or repair is trot rconvvnica)ly feasible or rf the securit}' at this Mortgage would
<br />6e ttnpairad, the inatirapce prtroeais shall be appiiid m the sums secured b}' this Mortgage, xuh the etcess, if an}', paid
<br />m Botmaser. U the Ptnperty is abandoned by Bavrrtwir. or if Harrower fails rn respond m Linder within 30 days from the
<br />dam ntXiae is maned by le> to Borrower that the iasuranci carrier niters to settle a claim for insuranct benefits, 1_endec
<br />is tutibaiatd to and apply the inswaace procxds at Ludes s option either to restoration or repair of the Property
<br />or m the wins tucsand by skis Mortgage.
<br />Unless Linder at>sl Btxnowa ~lisnvrse agrtx in wtitirrg, an} such application of proceeds to prrcipal ,hail eat suited
<br />tar poatltcnx itle due date ~ the mantbh~ installments refermd to in parngrapbs t and ? hertxit or change the amount of
<br />Bath izisul#aients,, if ands pua>papb i8 hereof flee Proptrt}' n acyuued by Lcndrr, all right, bile and ineerist n] Borrower
<br />in a0d to any iastaame pdiries nerd in and to the proceeds thereot resulting tram damage to tht Propene prier to the sale
<br />ter' atxpiiaLioa ttbaB pas to Leader is the extent at ibe sums see:tued h} this Mortgage immediately prior to such sale or
<br />4 art Itiaiaaeurte d PmipMy; I.taae6old~ Cardomirituit>ti Planned Utut Developments Borrower
<br />tdiaB ling the Ptnndty at good rtpair ,and shag not commit waste or permit impairment or dt:tetioration of the Progeny
<br />and ahaB enmply wilt the ptnvisions of nay ;.east if th:s Mortgage a on a leasehold. !f this Mortgage is nn a r~ait in a
<br />rxtadotmirmsm or a unit dent, Htusowtr shall perl.vm ell of Harrowers obligations under the dretarauan
<br />or rreatittY or gova'siag the 'tmratiran err ptaariid unit deve#opmrnt, the by-laws and regulatiaas of the
<br />cttr~mittiitm or phnaad iron developenint. and cnastitueat documents. If a candorttinium or planned unit development
<br />:titer ~ by Btnrras,~ a=vi recorded togetlxr with this Mongagi, the caveriaats and agreements nt such rider
<br />shag he inaitperamd info acid shad! amatd a~ supple,~ruat the enviaants and agreemenu of thrs Mangage as it the rider
<br />tiers a part havof.
<br />7. ~artlaetieta d Isaierra Sacaity. If Borrower fails to piriomr the covenants and .,gteements contained in this
<br />Maragage, tx if any astute or prtsoeeditrg is ixrmmenced which materially aftacts Lender's interest in the Pr open}'.
<br />indtiding, bent trot limited t0. aaittent domain, irnalverrcy, code rnforrensent, or arrangemrnis ar proceedings involving a
<br />bankrupt m tferodent, rhea Leader at Ltatder's option, upon notice to Harrower, may make such appearances, disburse such
<br />sums and tats atrL atxioa as is necessary to pretest Lenders interest, including, but riot limited to, disbursement of
<br />rcaaoasbie arts foes am! catty upon *'•e Progeny in tnal-e repairs. If Lender required mongage insurance as a
<br />caroditiea of tanking the Man scented bq this Mortgage, $trrrower shall pay the premiums required to maintain uuh
<br />ittaruataoe at eJfed anal ~6 tip as tlx rsgtriretment for such insurance terminates in accordance with Borrowei s and
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