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<br />80-- t~~y,L"21~:~
<br />UMFOAM COVENANTS. BnrrOWer and Lender covenant and agree as follows:
<br />1. Payment of Prlnetpd 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 as provided m the Note, and the principal of and interest
<br />on any Future Advances securtd by this Mortgage.
<br />2. Fonds for Ta=es and 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 slim (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority aver this
<br />Mortgagt, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments [vr hazard insurance,
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if an}•, all as reasonably estimated initially and from
<br />limo to time 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 of
<br />state agency (iaclading Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. [.ender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and.campiling 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 at 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 be paid, Lender shall not be required 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 which each debit [o the Funds was made. The Funds are pledged as additional security for the : .s 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 taxes, assessments, insurance premiums and ground rents, shall exceed the amount required tv pa}• 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 [o Borrower o[ 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 fat! due,
<br />Borrower shall pa}' to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Leader W Borrower requesting payment thereof.
<br />Upon payment in full of alt sums secured by this Mortgage. render shall promptly refund to Borrower any Funds
<br />held by Leader. If under paragraph 1$ hereof the Propeny is sold or the Preeerty ss vthenvise acyutred by 1_ender, Lender
<br />shag apply, ao later than Immediately prior to the sale of the Propeny or its acquisrtion 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. Applicafiou of Payments. Unless applicable law provides otherwise. all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lender first m payment at amounts payabic tv Lender b}• Borrower
<br />tinder paragraph 3 hereof, then to interest payable on the \vte, then to the principal of the dote, and then to interest and
<br />principal on any Future Advances.
<br />3. C6atses; liSeue. Borrower shall pay all a+aes. assessments and other charges, fines and nnpvsiuons attnbutable to
<br />the Propert}' which may attain a pnority over th[s Mottgaee. and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph Z hereof or. d not pard in such manner. b} Borrower making payment, avhen due, direclly to the
<br />payce thereof. Borrower shat! promptly furmstr to Lender all nouccs of amounts due under this paragraph, and in the event
<br />Borrower shalt make payment directly. Borrower ,hail promptly tarnish to Lender receipts evidenang such payments.
<br />Borrower shah promptly discharge any lies wtnch has priority nary :his hloneage: provided. [hat Borrower shall not fae
<br />trquirtd io discharge any such litn so long as Borrower shall agree m wnurg to the payment o! the obligation secured by
<br />such Tien in a manna acceptable to Lender, or shalt m gtwd ianh contest such i[en by, i~r defend enforcement uk Bach lien in,
<br />ltgai proceedings which operate to prevent the enleretnent of the hen or {orfeinsre of the Property or any part thereof.
<br />3. llarard lssattauce. Borrower shall keep the ,mproaements new eaunng or hereafter erected rnt the Propeny insured
<br />against Loss by file, hazards included w-tthtn the term "e.tended coverage', anL such other hazards as Lender may require
<br />and in such amounts and for such penvds as Lender may regvue; pre+vided, that tender shalt not requ[re that the amount of
<br />such coverage exceed that amount oI coverage requ„rd to pay the sums second by this Morgage.
<br />The insurance cazner providing [be insurance ,halt tae chosen tsy Borrower subiect to approval by Lender, prov[ded.
<br />that such approval shall not !ae attreasonsbiy withheld. .41! premmms on insurance polsctes siaall be raid <n the manner
<br />provided under paragraph . uerevf or. ,f nut pard in such manner, by Borrower makme payment, when due. ,`.ireclly tv the
<br />insurance carrier.
<br />Alt insurance policies and renewals there i shat! tx sty corm acceptable n, L, odor and shat! rnciudc a ,tanuard mortgage
<br />clause in favor of and :a form acceptable to Lender. isrnder ,halt hays the rtgh! za hold rhe• poisacs and renewals thereof.
<br />and Bortoker shalt prempily fum_sh to Lendu :ell raPeuat notices and afl rccespts of ;std premtnms In tht earn al toss.
<br />Borrower shall gtae prompt neuce to the msur.mce .arrier and Lender. Lender may :yoke pnn,t of loss st not made prontpd}
<br />lay Borrowu.
<br />Unless Lender and Borrower othenavse agree m .arumg, insurance proceeds shall be appt[ed m ;estnrauon rr rcpssr of
<br />the Propeny damaged, ptovrded such to>toratman or repair r, :.etsomrcaih reassblr Ind :ate se.:urrty of this ~iurtgage .,
<br />not ihweby imparted. if such restoraumt vt reparr +s not etonamrcalty tea,ible yr n the urunn~ of thn Mortgage would
<br />be impaired, the snsurance proceeds shall fae applied z;:~ the sums scuu~a+: h~ thts ~•Iortgage, a,:th rht eaces~, rf an}. pard
<br />to Borrower. if the Property is abandoned by Borrower- rv. ~! Borrower tad> to res. anal to i zneier wuhsn 3U days trom the
<br />date native is malted 6v Lendu to Borowee that the sttsurance~ .etrset t~rfern ,,, ,erne ., .farm inr ,n>urance benetlts, Lender
<br />is authorized ko cofiect and apply the insurance ptcceeds at Lervdcf> a+pran eahar u, rratoraaan or reparr a! the Propeny
<br />or to the sums secured by this Mortgage.
<br />Unless Lender arm Harrower otherw tv: sgree sty wrsttnE. 'sty} such apphcauon a,t pr.rceeds :o pnnapai shaft not eucnd
<br />ar postpone ztte due date aE the monthly tnstaP.meats rekerred !.+ :n paragraph. :rid ~ hcrcot a,t ahauge the amount ui
<br />such ipstallmenu.. if under paragraph t8 iaereaf the Property rs aquued h} f..cndu. e!! right, trtte and interest tit Borrow e:
<br />in and to any insurance policies and in and to the prt,+ctczis therec>t resuiung train; ilamsge tv the Property os'ror to the sate
<br />or acquisition shall pass to Lendu tv the eaieat vt dte surn> secured bf tht> 'storzgage .mtnedrmcl. poor in such sale ar
<br />acquisition.
<br />ti. Preaenat(ioa and Naiutenaaee of Property; Ixacehalds; t:onduminiunts: Planned t;rti[ Ueaehrpmeats. Borrower
<br />shat! keep the Property in good reparr and shaft not :;ommit waste or perms[ :mpa[rment ar iletertvratton of the Propeny
<br />and shat! caunply with tine proviseons of any tease rt this ilartgage .s on :: i<:a,•_hr,td. If chi, Mottgaga ro .'n .r ;toll :n
<br />condominium or a planned umi develop!rxn[, Barro~.,cr shalt I>cricum .sal <,f Bor roxer~s ,~b~Lg.;u„ns under the Jeci.uau:tn
<br />or wvenanis creating ar governing the candvmmsum er planned sine dcvc-l~pmertt, t, e bs ;act-s and reg.;Ia!.nn, ,af tPse
<br />condominium oz planned unU development, and <onstnueut dvaanxants !t a candununtum r,r p!a[aned unit dc,ck,pment
<br />rider is tx~rsuttd by Barrowet and rccgzded tugethct wuh this ?.Ix,rtg^age. ;hr .~oas:nants ~,nd ;,grce.ntcnrs of su+:h odor
<br />ahaB lac i~orporated Into altd shall amend and supplcmestt tfre co,enants and agreements of tits> MangsFw~ as if the alder
<br />were a part hereof.
<br />7. Prnc~tlon of Lerer're Secarify. ]f Barrowtr fasts to perform the covenann and agraeatcnts c<,ntaancd .n th:,
<br />MurtgagC. or if any action tTr proceednng ss ccmmcnced which matcriall} .rtiezts i.ender'> rntenst tit the Propeny,
<br />inniudittg, taut not limited ta, emsnent domain- insolvency, code en;arcaraerat. er a;taagentc.ke of proceedings snaolamg s
<br />haukrupt or decedent, then 1-ender at Lender's option, u}Man rvtts to B+~rruw cr, may make >,a;it appearances, dssi~trsa +ach
<br />sums stud take 3ueh action as is necessary ``--a pratc4t I_entkr`s nuuesr, ractadtng. lief n,>t hntucd in. ilrsk+saaYcnaew „f
<br />reasostahk attamey's fa`CS and sz:try upon the Property to make tepau:, If 1 ends; rc;yuur;J rn, rtl;agu uc,urancr' ., ..
<br />..ouditton of :uniting tlu loan srcurtd try this hlertgad!e. Barrawct s!aii Ira? the prcmrums rcyu:re;i t„ rnairt,uu s,n i,
<br />itnurance in atkct until such tone atr ttiG requiretttent for vu%h an;unrsicc [cnran;<[e> =n +rca~rrda.te rsah Hay;~=•st~r~:- ,::~~.
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