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80-- ~ax~s~~
<br />Ur+tt:oant Govetvntvrs. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest. Borrower shat! 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 />on any Future Advances secured by this Mortgage.
<br />2. Feeds for Tara and Irtsuruce. Subject to applicable law or to a written waiver by Lender, Borrawer shall pay
<br />to Lender on the day monthly installments of principal and interest are payable under the Note, until the Notc is paid in full,
<br />a stmt (herein "Fonds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground rents on the Property, if any, plus aoe-twelfth of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonabty estimated initially and from
<br />rimato tirt[e by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The 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 apoly the Funds to pay said taxes. assessments,
<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 assessments and bills, unless Lender pays Borrawer interest nn the Funds and applicable law
<br />permits .Lender 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 Qaid to Borrower, and unless such agreement is made or applicable law
<br />requites such interest IO t>e yard, Lendtr shall not be required to pay Borrower any interest or earnings on tM °unds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to [}.. r"ands and the
<br />purptxe far which each debit to the Funds was made. The Funds are pledged as addiuanal security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of razes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, insurance 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 monthy installments of Funds. If the amount tit the Funds
<br />held by Lender shall not ttt sutlicirnt to pay taxes, assessments, insurance premiums and ground rents as they fall due.
<br />Barrower shall pay to Lender an}' amount necessary to make up the deficienc•~ within 30 days from the date notice is mailed
<br />by Lender to Borrower rearresting payment thereo[.
<br />Upon payment in foil of all sums secured by this Mortgage, Lender shall promptly refund to Borrower arty Funds
<br />held by under. If under paragaaQh ig hereo[ the Property is sold or the Property is otherwise acgwred by Lender, Lender
<br />shall apply, no later than immediately pricer [o the sale of the Property or its acquisition by Lender, am' Funds held by
<br />Lender at the time at application as a credit against the sums secured by thts Mangage.
<br />3. Application of Pay>•enle. Unle-.~ applicable 1zw provides otherwise, all payments received by Lender under the
<br />Note oral paragraphs I and 2 hereof shah 6e applied by Lender first in payment of amounts payatae to Lendtr by Borrower
<br />under ouagraph 2 Ixreaf, then to interest payable an the Note, then to the principal of the Nate, and thrn to interest and
<br />principal an any Future Advances.
<br />~. Charte.~ ISene. Barrower shall pay ail rases, assessments and other charges, fines and tmpasmons attnhutah;e to
<br />the Property which may attain a priority over this tiforteage, and leasehold payments nr ground rents. if anc, in the manner
<br />provided under Qaragraph ?hereof or, if oat yard m such manner, by Borrower making payment, when due, directly to the
<br />pays thereof. Borrower shall promptly f urntsh to Lender all notices of amounts due under rhts paragraph, and in the even
<br />Bormwtir shall make payment dirtetly, Borrower ,halt promptly' turnuh to Lender receipts evidencing such payments.
<br />Borrower shah promptly discharge any hen cifiich has pnenty over 'his Mortgage; provided, that Anrrower shall not be
<br />required to discharge any such lieu sa ]ang as Barrower shall agree in w riung to :he payment of the u:,ltgation +ecured by
<br />such lien in a manner acceptable to Ltnder, or shall in goad faith contest such lien b}•, or defend enforcement at such lien m,
<br />legal proceedings which operate to prevent the entamement of the lien ar forfernut of the Property nr any part thereof.
<br />5. Iiiasard lasntance. Borrower shad keep the tmprovtments ao,v e<uttng ar hereafter trtcted nn the Property ensured
<br />against loss by fire, hazards included within the term "tstended coverage". and such other hazards ac lender may requtre
<br />and in such amounts and far such Qeriods as Lender may require: prncided, that Lendtr shall not requtre that the amouu of
<br />such coverage exceed that amount of :.overage rtquued to pay the sums se;.ured by this Morte: Vie.
<br />The insurance carrier providing the insurance shall he chosen by Burro+ver subject to approv_i by [ender. provided,
<br />[hat such approval shall not bt unreasonably withheld. All premiums nn insurance polictts shall ht yard m the manner
<br />pmrided under patagrsph 2 hereof or, ,t oat paid in such manner. by Borrower making paymtnt, when due, dtra:tly to the
<br />insurance carne*.
<br />All irtsuiance policies and ztnewais [hereof shxii let io farm acceptable to Lendtr and shall mcludt a standard mortgage
<br />clause in favor of and in form acceptable to Lender- Lendtr shall have the right to bald the puiicits and rent+vals thereni.
<br />and Barrower shall promptly tarnish to {-cadre all rtrttwai noti:z_i and ail receipts of paid premium,. in the event of Ins,.
<br />Bortowtr shall give prompt notice is the insurance carrier and Leader. Lender ma} make proof of loss if not made promptly
<br />by Borrawer_
<br />Uaitse Lrnder and Borrower olherw-tse agree in wrinn-q, ir»urance proceeds shall be appiitd tt, restoration or repair of
<br />the Property damaged, Qrovtded such restoration or repair is ecenomicaliy ftasibit and the scent try of this 3ortgage is
<br />not theaeby impaired, If such restoration of repau is not tcanamtcalh• feasible or tt the se vru} at th,s Mortgage would
<br />Ste impaired, the insurance proceeds shalt be applied [o the sums secured b}' this 4langagt. with the excess, it any, yard
<br />to Borrower. If the Propem is abaadnned b} t3urrnwer. or it Barrower tails to reapand in Ltnder wtUttn 3P days from the
<br />date notice is tttailed by Leader to Borrawer that the tttsurance ~arritr .,Hers w settle a claim far msuranet hentfits, f_tnder
<br />is authcirized to collect and apply the insuratt,e ptoe~eeds at Lendti s upuan either to rtstorutian or repau of the Prnpert}
<br />ar to iSte stems soured by this .Mortgage.
<br />Uttltss Lendtr and Berrotctr at_htrwise agree m wr,ttttg, an} such spplicauen at proceeds to prmctQal shall not esttnd
<br />ar postpone the dot date Gf the monthly ias€alimenu referred to in paragraphs 1 and ' hercoi nr change the amount of
<br />such installments. If undo paragraph iS hereof the Prapeny is acquired ~`•t lender. ail tight, title and interest of Borr:>wer
<br />is and to any insurance policies artd in acrd [o the prac~'eds thereat resulting from d-smagt [.~ the Properi} poor to the salt
<br />tx acquisition shall pass to I.e»der to the tstent of tote struts secured b} this Aiartgage immediately pacer to such sale os
<br />acquisition,
<br />6. Prteaatr~'atiN tits/. Mtrioteaaacr of PropertF; I.eat:eirolds; Ctrudamiaiutns; Planned Unit Developments. Berroucr
<br />sSrall keep the Praperiy in gaud repair and shall not commit wasFe or permit irnQairment ar deteriaratian of the Property
<br />and shat! comply with the pro;rtcions of any least if ifiis bortgage is on a ltastheld. if this Mortgage is au a trait in u
<br />catdomitutun ors ,planned wait development, Borrower shal3 perform all of Barrower s obligations under the dttiarannn
<br />or cavtnaats creating ar governing the condammtum or p?tinned unit development. the by-laws and regt,latu,ns of ehc
<br />condominium or planned unit devaIopmeat. and constituent docurttents. if a coudnntinium or planned una Jevtluputent
<br />rider is ettectrted by Borrower attd rtzorded io~esher wtFb this M.,rtga$t:, the covenants and agreements of such ndcr
<br />shall heincorparatsd into and shalt amend and suppttn,tn[ the ea.enants and agtetnttnzs of zhis Mortgage as tf the rider
<br />were 1 Put hheeof.
<br />?, PrgtecWtt of Is~ier'a Secnriry. If Borrower fails to perform the covenants a.td agreements cnniauttd in thin
<br />alo;tgage, of if-nay aaian or practxtling is camtncuctd which ntatcriail} affects l,tuderi interest in the Psopert},
<br />iacludirtg, Stitt not litnit~l to. emintnr domain, insrlvenc}', code cntarcemtn[, or arrartgetnertts er paxttding-; 3nvulv,ng :i
<br />hanlirupl ox decedent, thin Lender at Ltudpt's oQtiun, upon notice tc9 Borrtxwcr, neat make each appear:u,cts..bst+ursc such
<br />taiets and inks such action as is tiCCtssary' to protect Ltndeis antertst, utcludin$, but oat hmtted w, :t,shursemtnt tar
<br />retuottabk attatney's fees and entry npan the Proyxrty io make rpaa s. if I~udcr rcquhed martgagt insurnncc as s
<br />.4ndition of making the loan setatrrd by this Mort$a$e, SiFVrrnw-er shall pa)` the premiums tcqurred to maintain sorb
<br />itLitR'anCe in etErxt until stall time as the regtatreinent fttr such imuranre ?trmira[es m :tccordancr, with Botr~wrr's and
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