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80-D~09~
<br />Uvtt;oaar COVFr.dNTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Ptinclpal and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges a provided in the Note, and the principal of and interest
<br />nn any Future Advances secured by [his Mortgage.
<br />2. Funds for Taxes attd Insurance. 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, until the Note is paid in full,
<br />a sum therein 'Funds") equal to one-twelfth of the yearly taxis and assessments which may attain priority over this
<br />Mortgage, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insuratce,
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, aU as reasonably estimated initially and from
<br />time to time by Lender or. the basis of assessments and bills and reasonable estimates thereof.
<br />'f7te 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 ma}' not charge for sa holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable taw
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing a[ the time of execution of this
<br />Mortgage that interest an the Funds shall be paid to Borrower and unless such agreement is made or applicable law
<br />requires such interest to he paid, Lender ,hall not be reyuired to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge. an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for whtch each debit to the Funds was made. The Funds arc pledged as additional security for the sums secured
<br />by this Mortgage.
<br />if [he amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of tales, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, msuraace 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 the amount of the Funds
<br />held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower shall pay to Lender :my amount necessary to make up the deficiency within 30 days from rite date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of alt sums secured by this Mortgage. Lender shall promptly refund to Borrower any Funds
<br />held by Ixnder. If under paragraph 18 hereof the Property is sold or the Property is otherwiu: acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the ,ate of the Property or its acquisition by Lender, soy Funds held by
<br />Lender ar the time of application as a credit against the sums secured b}' flies Mortgage.
<br />3. Application of Payments. Unless applicable law provides otherwise. all payments received by Lender under the
<br />Note and paragraphs t and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender h}• Borrower
<br />under paragraph ~ hereof, then to interest payable on the Nute, then to the principal of the Note. and then to interest and
<br />principal an any Future Advances.
<br />3. Charges; Liens. Borrower shall pay alt tales, assessments and other charges, fines and rmposrtions attnbutable to
<br />the Property which may attain a priority over this bfortgage, and leasehold payments or ground rents. if anV, in the manner
<br />orovided under paragraph 2 hereof ar, if not prod in such manner, by Borrower making payment, when due. Jirectly to the
<br />payee thereof. Borrower shalt promptly furnish to Lender all nouccs of amounts due under this paragraph, and in the went
<br />BorrewCr shall make payment directly. Borrower shall promptly htrni,h to L.en Jer receipts reidencmg such payments.
<br />Borrower shall promptly discharge any lien which has pnonty over this !Nartgage; provided, that Borrower .halt nett ht:
<br />requred [o discharge any such lien sn long as Borrower shall agree in ,anung to the payment of the obligation ,caned by
<br />such lien m a manner acceptable to 1_ender, or shall in good Leith contest such lien M', or defend enforcement of such lien m,
<br />legal proceedings which operate to prevent the enforcement of the hen or fortciturc of the Properp~ nr any part thereof.
<br />5. Hazard Insurance. Borrower shat! keep the unprovrments nov cmtmg or hcn`after erected on the Prapcrry ansurrd
<br />against loss bt' fire, h;ttards included within the term °rvtended anrrige`, sod wch other hazards ss Lender mac regrnre
<br />and rn such amounts and for such periods as L.rnder m,ry rcyuu'c: I:ro:rde.i, ;hat Lender chat) not rcgrare that the amotmt of
<br />such coverage Cseeed that amuwu nl coverage reyuucJ to pay the ,ant, ,ecured by flies 1longage.
<br />The insurance carrier providing the insurance ,haft he chosen ity Borrower wbject to approv;ti 3,y i ender. provided,
<br />that such approval ,halt not be unreasemably withheld. All premium .,n insurance puhctes ,half he paint a ..c tuanner
<br />provided under paragraph '_ hereof or. if nut pard m wch manner, by Harrower making payment, when due, tircetly to the
<br />insurance earner.
<br />A.11 insurance pohoes and renewals thereat shall hC m town acceptable to Len~rrr and shall :nclide a ,t.utd:rrd nx+rrgagr
<br />clause in favor of and m form acceptable u, Lcuder. Linder ,had h:ne the nght t,~ hold tltc p+dicie, .uW rrncwah rhrrrot.
<br />and Borrower shall promptly furnish to Lender all renewal nouccs ,urJ all rceerprs ,+t pard prenu:un,. I^ the e,ent of In,,.
<br />Borrower shall give prompt notice to the insurance earner and Lender. I ender may make proof of Ions a not made pn+mpth
<br />by Borrower.
<br />Unless L.tndcr and Borrower otherw tic agree in Nriung, m,w ance pro: crd, shall he applied n. rr,un:uion or repair of
<br />the Property damaged, provided such restoration ar repair rs enntonucully teaed,lc .roar the ,ecunty of rhr, Maugagc n
<br />nut thereb} impaired. It such restarnutn ur repair rs not cconomrcully tcaaihlc ar it rhr ,rnnns of rhr, Mongap;c tvnuld
<br />be unpaired, the utsurance proceeds shall be sppbeJ la rhr wins scored by rho Mortgage. •_+uh [hc rvcc,s, rf .rny. paid
<br />to Burrower. 1t the PropCrtt rn abaudnnrd he Narnnarr. of .. BOrfUw cr Lai, t++ ir, panJ :;~ I ender wuhm H+ day, rnau the
<br />date notice is m:u leJ by Lender to Burrower that the uuur;utcr wince nrlcn u+ ,cote .. ~iainr n,! muuaucr benrhts, t ender
<br />is authorized ra collect :rod apply the unurwtcC procccJs at I coder', ~ipUwi rnhrt rt+ u•starauun ar rrpau of the Pruprrt}~
<br />or to the cunt, neeurcd by this Mortgage.
<br />Unless 1_endet' and Borrower otherw rsr .igr re m wrung, am ,uch appbuuinn .d p+o.crds m pru+a pal .hell ant c,tend
<br />ar pastponc the due date of the nunuhly inatallmenl, referred ro m paragraph, 1 ,uui 6err~+I ar ahungc rhr amaum ,~,
<br />such insuulntena. It under paragraph lR hereof rhr Prolxm „ acyuucJ ha LrndCr..dl nghr. alts aoJ inter c,t ~rt Hon.,+a rr
<br />in and la any maw ance policies auJ iu ar.J to the pn,cCCJs rhrreol icsulung faun d.w:agr to the }'n:prnc poor to rin~ ,.rlc
<br />or acymsiuou nlntli pass to Lender m the c.-item a.f the ,ma, ,ecured bt rhr, ~i,;; tgegr ~raot~-.i;atr+v pi r.•r n .uas ,.,,o ..
<br />acquisition.
<br />6. Preservation and ~taiutenance of Propert}: Lravrholds: ('uudmuiniums: Planned t rut I)rv rloputrnis. Rnt n+++ri
<br />shall keep the Yruperty in gaud repair and shall oat cvmmh ,oasce yr Ixnun onpau wino ar drtrnoe atruu .u rhr Pr sprat
<br />and shall comply with rho provisions of anp (Case a rhr, Mortgage ., ,.u a ieanchnid It rhr, Alaugagr n .nr .~ uuu ~~, ..
<br />condominium or a planned amt development. Bon uw er ,hall perlonn all .d Horrmver-s ui+h g.n i.ms antler !hr Jerre: atu~u
<br />ur ~avenilntx crrau rig or governing the .ondornuuum of plauncd aria Je~eb+pnicm. rhr by-law, .u+al rrgureunu. ,~t +hr
<br />condominium or planned unit development, and consutuem J+x'unrrni, II .+ .,,nrloiruurwu of ;,Lue:rd ^...r .rr, •I,~r~ucnr
<br />rider is esecured by' Borrower and recorded tagrthei wnh rho Morgage, the . seu;uus ,uiJ as;i cemrnP ,.r , rch rider
<br />shall hC +ncorpttrxled inw and shall intend anJ supplement the ao,rnants amt aErrentcnt, ar rhr, MortKagc .+, ~r rhr nJrr
<br />wire a pan hereof.
<br />7. Protection of Leader's Security. 11' Borrower fad, a! pcunrm the .avenants .rod ag[rements a~nttawaJ ar chi,
<br />Martgagr, or if any action .rr praxeedmg i, unnmeneCJ wiuJt materially arfcat, t cmior ~, intereu w d+c Propeny.
<br />including, but not hnutCJ to, enu neat domain. insuiseocy..:.de eoiouriaein. ,,. .+. rwgement., .• arrJutts mvoivug e
<br />bankrupt or decedent, then Lender W Lender'. upnoo, :;lone a+necr ... tt.:n nwrr, m.r. make ,uch .rppe,ir:urae,, Ji,hor,c ,uch
<br />sums and lake such action as is rwtit>tary' to protest I.endrr', ^aercet :nciuahny- but not hnv teJ r.+. dr,hurrnicnt , .
<br />reasonahlC attatneyl firs and entry upon the Pruperiv to make repair II Lcuder reyuurd ni.~ireage row ance a
<br />condo r,m nt makrng the loan secured by this Mortgage. &at nwa shall pay Uic pn-miun, ieyuu eJ t;~ maintain .u.6
<br />msurancu m effect until ,uch Umr as rhr n_.ywremrut tot -arih inuu.race rcnnurat., .u .i~arr dan,c +uih Har r.~w ci'-. ,urJ
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