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<br />UxtFOart CovexexTS. Borrower and Lender covenant and agree az follows:
<br />L Payment of Principal and Gtterest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Note. and the principal of and interest
<br />nn any Future Advances secured by this Mortgage.
<br />2. Funds for Tarn and Iusoratue. Subject to applicable law or to a written waiver by Lender. Borrower shall pay
<br />to [xnder on the day monthly installments of principal and interest arc payable under the Ntue, umil the Note is paid in full,
<br />a sum {herein "Funds"; equal to one-twelfth of the yearly taxes and assnsments which may attain priority over this
<br />Mortgage, and ground rents on the Property, if any, plus one-[welhh of yearly premium installmenu for hazard insurance,
<br />plus one-twelfth of yearly premium installments for mottgage insurance, if any, all as reasonably estimated initially and from
<br />time to time by Lender on the basis of assnsments and bills and reasonable estimntn thereof.
<br />The Funds shall F,e hdd in an institution the deposits ur accounts of which ate insured or guaranteed by' a Fedtral or
<br />slate agency (including Lender if Lender is such an institutionj. Lender shall apply [he Funds to pay said taxes, assessmatu,
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said azsessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender a? make such a charge. Borrower and Lender may agree in writing at the time of execution of tfiis
<br />Mortgage that interest on the Funds shall he paid to Borrower, and unless such agreement is made or appliwbk law
<br />requires such interest to he paid. Lender shall not he required m pay Aorrower any interest or earnings on the Funds. Ixnder
<br />snail give to Borrower, without charge. ,rn annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose ti,r whtch each Jebrt to the Funds was made. The Funds are pledged as additional secunty for the sums secured
<br />by thrs Mortgage.
<br />If the amoum 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 taus,
<br />assessments, insurance premiums and ground rents as they fall due, wch excess shall 6e, at Borrowers option, aither
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall not be sutHcaent to pay taxes, assessments. insurance premiums and ground rents as thec faB due.
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesirag paymem thereaf-
<br />L'pon payment m full of all sums secured by thts Mortgage. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Propeny is sold or the Propern~ is otherwise acgwred by Lender, Lender
<br />shall apply, no later than immediately prior ro the sale of the Propertq or its acquisition by Lender. any Funds held by
<br />Lender at the time of application as a credit against the sums secured by this Mortgage.
<br />3. Application of Payments. Unless applicable law provides otherwise. all payments received by Lender under the
<br />'.Vote and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph Z hereof, then to interest payable on the Mac, then to the principal of the Note. and then to interest and
<br />pnncipal on any Future Advances.
<br />4. Charge; Liens. Borrower ,hall pay all tales, assessments and other charges. ftnes and impositions attributable to
<br />the Propeny which may attain a pnority over this 'Mortgage. and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof nr. rf not yard in such manner. by Borrower makme payment. when due. Directly to the
<br />payee thereof. Borrower shall prompty furnish ro Lender ail notices of amounts Jue under thu paragraph. and in the event
<br />Borrower shall make payment directly. Borrower shall promptly nun!sh to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has pnunty over this Mortgage: proviileJ. that Burrower shalt not he
<br />required to discharge any such lien sa long as Borrower shall agree m welling to the payment of [he abheatinn ,ecured by
<br />such hen m a manner acceptable to Lender, or shall in goof L+i[h .ono^st such hen hy, or defend enforcemem o! ,uch lien m.
<br />legal proceedings which operate to prevent the enforcement of the i,en or forfeuure of the Pmper[ti• ur any part thereof.
<br />5. Hatard insurance. Borrower shall keep the ,mpro~ement, non e~isnng or hcreatter erected on the Property ~nsu: ed
<br />against loss by fire, hazards included wnhm the term 'e~tendco ~overage'~. and such other hazards ss Lcndcr mar reyuire
<br />and m wch amounts and for such penuds .u Lender may rcywn•: prrn ideal. that LcnJer :hall not reyuire that the amo:mt of
<br />such coverage exceed that amount of coverage rcywred ro pas !hc ,ums ~raucd by !h!s Sk,rreage.
<br />The insurance earner providing the inwrance .hall he .hosen i,y Borrower mbleet to approval by Leader: nrn'!ded.
<br />that such approval .hall not be unreasonablq' withheld. :\II prc•mwms nn insurance pohues ,hail be paid m ~ne manner
<br />provided under paragraph '_ hereof ur, tf na! yard to +uch manner, b} Borrower making payment, when due, .:.!c4!ly ro the
<br />insurance carrier.
<br />All insurance poh4!es and renewals thereot ,hall Ix in form acceptable to t an.ter ,rod ,hall include ., ,c+nda rd mortgage
<br />clause in favor of and m form acceptuhie to Lender. Lcndcr ,hall have the nghr n> hold !hc policies .mJ renew ai, thercut.
<br />and Borrower shall promptly humsh to Lender all renewal notices ;uui all rece!pu of paid prenuum,, In the a•,ent of lo,s,
<br />Borrower shall give prompt nonce to the uuurauce garner .rod LenJer. Lender ma} nt:rkc pn„~I ,~f loss !t nut made pn,mp[h
<br />by Borrower.
<br />Unless Lender and Borrower othens'nc agree in ,strong, unurance pmcceJs ahait he apph,:d !o resn,rutun .u repair of
<br />the Property Jatnxged, provided such resmrattmt or rcpau a aconomically Icas!hle and Ox• ,acorn} of !hrc Mortgage :,
<br />not !hereby impaued. If wch resuxauon ar reptur n not rcononuc;dlt !easrhle or it the ,e. tint} „f the Monga~c would
<br />br: impaued, the insurance prrxeeds shall be applied to the ,ums .ecureai by this Morgage. •~, ith rhr excess, it anc. pant
<br />to Borrower. It the Prapertt- :s abauduned hr Bun-owcr, „r n Bin rowel t:uh t„ iespnnil to Lander wrthm iu Jas, rn,m !hc
<br />Date notice is rnaded by Lender r. Borrower !hat the inwr:mce coact .oleo !„ ,enlc „ cluun for ^r,uran.c henetiu. Lendr!
<br />is uuthonzeJ ro collect and apply the uauranee proceeds :u I_cnsler, option euhcr m teat„rwnu ,v ~epmi .n ~hc Pm[,crts
<br />ur to the sums secured by thw Mortgage.
<br />Unless Lender and Borrower utherwne agree m wrrtmg, am ,uch .,pph,:.u um ,,I pia.-ceJs io pn nc!p:d hall nor avtenJ
<br />or postpone the due data of the monthls mstailmenn rcle!reJ !+~ ;~ pura);repn: ,nJ ~ Itereo! :,! vhauy:r the amoum .~.
<br />such entailments. It under paragraph !x hereof the Pn,pertt ~, .myuucJ ns l._nar:..,il rikht, !~tlt and in!c, es! ,,: Ron+,w ei
<br />m and h, any u[suiuna• pohaea ;uid m and to the pr oeceJ, thcteoi :e,uiung !tarn ,~an!agc !o the Pn,pertt Prn,r ro !hc ,.,
<br />or aeyuiatiun shall pass to 1_ender to the c.ateut .d the ,um, x.'urcJ h} ihn yio,tgagr nnnwdmtels pout ^, ,uch ,ale „r
<br />aequisniun.
<br />6. Presrrvaliop sad MaiWenttocr of Property: 1..•wehulds; t~ondmnmiums; Planned Unit Urvrlupinents. tinno„rr
<br />shall keep the Property m gaud repine and ,hall nut cumuli! waste „+ pcrnut :nq,.u, nreut ,rc deteiiorwon .n the 1'raparts
<br />and shall comply with the provisions tit any lease ~t !h!, Morgage n an .. ",ch,:iJ It !i;-. zh:!tkat:e n -,,, .: ~. ~::u -n ,
<br />cundomimum ar a planned amt de, er.,pmeut. Bon own ,hall pcn,am .dl .,i ,~;.n n,we! , .~h~iigau„ns ,mJe, nx Je.!a:,nnm
<br />or cavenants :;reuut[g ur gevermng the .onduminu,m o pianoeJ :at,t ilevclapmcnt. thy: ny-law, .rod a•4nlauon. -.,t inr
<br />amdominwm or planns;al unit development..o,u .,,n,uuieut .lau:umcnt, it ., .,,nJannmuat or pLrancJ „rot de, c!opmcm
<br />odor +, executed by Bormwer and teaudeaf together wrth !h„ Morgage, the .cn.un, u,J age crnrcnt, ,~! ^ ah uJei
<br />shall t>C incorlwrated into and Thal! amend and ,upplenrcm rhr n,s cumus .rod agrccmcnts of thi, *.1on Fagc ds ~t rho !!dc!
<br />w-ere a part heroof.
<br />7. Protcefioo of txoder's 5ecari[y. 11 Borrower tad, h, pcrrt,rm the a,venante .ur,l al;n•en!ents ~. rnuau,ed u, ihi•.
<br />Mortgage, or if any notion or proceeJmg „ conunarced wht~h m:,teriatl} ade.!s l code!-~ :n!ereu m the P, ulk~n+,
<br />including, but oat limned tu, Drool@n1 don[arn, uiv,lveuey, erode oa t,uecnrenl, ii! a!!.u,genn•nh „t p!aa•edmf, ;; ,rn mg ,
<br />bankrupt or Decedent, then Lander at Leader's apw m, utwn notice •., Ban nwri. ,ay i.m4.c , ,.h .yq>t•ar:,nar>..•„bone ^uch
<br />wins and Inkc such act[on as ii uceessaiy to pnae~i Lender. •u Ff re,i, odutg. :•ui as ;no,tcu ;.. ,h,Lunrnn•m , ,
<br />reasonable aunmcy-s rocs and cotiy upon the Property to make !ep;ur-, ~!t Lendc, rcquuc,i nn,n gaee msurmxc .: ..
<br />cund,uon ul making the Ioau ,can eD by (his Mortgage, Born,w i:r ,trail pay the laemnum iryuucJ !a mauuam ,u,b
<br />~nsw auce ht ct(ect until wch trine as the reyurren[ent nx ,ugh nnu!ance mrnn,a[a, .u ,,aarcdana, nun H,u n•w er, .. u,r
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