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<br />80-~~~~
<br />Utamoast Covexet+rs. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Prittelpal arced Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedrmem 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. Fords for Teats aed tmuranee. 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 (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and grotmd rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />6me to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />'Ilene Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Fedetal 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 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 Borrower interest on the Funds and applicable law
<br />permits Lender [o 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 paid to Borrower, and unless such agreement is made or applicable law
<br />requira such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shag give to Borrower, without charge, an annual accounting of the Funds showing credits 7 debits to the Funds and the
<br />purpose for which each debit to the Funds was made. 7lte Ftmnds are pledged as additional 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 taxes, 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 Eorrow'er on monthly installments of Funds. If the amount of the Funds
<br />hUd 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 any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower regcesting payment thereof.
<br />Upon payment in full of all stuns secured by this Mortgage. 1_ender shall promptly refund to Borrower any Funds
<br />held by Lender. If u.•mder pazagtaph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />wall apply, no Later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held 6y
<br />Lender at the time of application as a credit against the sums secured by [his Mortgage.
<br />3. Ap~lirstiw of Payme!KS. Unless applicable law provides otherwise. all payments received by Lender under the
<br />Note and paragraphs i and 3 Hereof shall be applied by Lender fits[ in payment of amounts payable to Lender by Burrower
<br />under paragraph 2 hereof, then to interest payable on the Note. Gren to the principal of the Note, and siren to interest and
<br />principal on nay Future Advances.
<br />~. ChatEea; Liens. Borrower shall pay all taxes. assessments and other charges, fines and impositions attributable to
<br />the Property which mad- attain a priority over thts Mortgage, and leasehold payments or ground rents, if any, in the manner
<br />provided under pazagra, . 2 hereof or, if not yard in such manner, by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and is the event
<br />Borrower shall make payment directly. Borrower shalt promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien wbich has prtority over this Mortgage; provided, that Borrower shall not be
<br />required to discharge any such lien so long .rs Borrower shall agree in writing to the payment c f the obtigatinn secured by
<br />such lien in a moaner acceptable to Lender, or shall in good faith contest such lien by, or defend enfocement of such lien in,
<br />legal proceedings which operate to prevent the eaforcemeni of the lien or forfeiture of the Property or any part thereof.
<br />3. Biased IrmaQattee. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />against loss 6y fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may require; provided. that Leader shall not require that the amount of
<br />such coverage exceed that amount oI coverage required to pay the sums secured by this Mortgage.
<br />The insurance carrier providing the insurance shall be chosen try Borrower subject to approval by Lender; provided,
<br />that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in sucim manner, b}' Borrower making payment, when due, directly io the
<br />msurancx CLf1U.
<br />All ina~rance policies and renewals thereof shall be in form acceptable to Lender and sha0 include a standard mortgage
<br />clause in hvor of and is form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof,
<br />sad Borrower shat! promptly firrnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss,
<br />Bartawer sbali give prompt notice tts the insurance carrier and Lender. Leader may make proof of ions if not made promptty
<br />by Borrower.
<br />Udess Lender amt Borrower otherwise agree is writing, insurance proceeds shalt be applied to restoration of repair of
<br />tht Property damaged, provided such intonation or repair is economically feasible and the security of this Mortgage [s
<br />not thereby impaired. If such restoration or repair is not economically feasible or d the security of this sortgage would
<br />be impaired the imutance proceeds shall be applied to the sums secured b}• [his Mortgage, with the excess, if any, paid
<br />to Borrower. If the Propem' is abandoned by Borrower, nr it Borrower fails to respond to Linder within 30 days from the
<br />date notice is mailed try Lemier to Borrower [hat the insurance arrier otTers to settle a claim for insurance henefits, Lender
<br />is aittborired to collect and apply the insurance proceeds at Lendei s option either to restoration or repair of the Property
<br />of to zhe sums secnral by this Mortgage.
<br />Unless Leader and Borrower oihera ise agree [n writing, an}• such application of pr;A~eeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to ins paragraphs 1 and 2 hereof ar change the amount of
<br />such installments. If under paragraph 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower
<br />in and to w}' insurance poliraes and is and to the proceeds thereof resulting from damage to the Property prior to [he sale
<br />or acquisition shalt peas to Lender to the extent of the sums secured fry this hiorigage immediately prior to wch sale or
<br />aequisititan.
<br />tti Ptaservaliaa amsi Msiitmteaaace of Properly; Leaseholds; Co[mdotoiaiams; Planned Unit Devebpmen[s. Borrower
<br />shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property
<br />and shall comply with the provisions of any lease it this Mortgage is on a ieasehotd, If [his Mortgage is nn a unit in a
<br />a~ndominium or a planned emit development, Borrower shall perform all of Borrower's obligations under the dectaraiion
<br />or covenants creating or gavetning the condominium or planned unit development, the by-laws and regulations of the
<br />condominium or planned etas develaprnent, and Ccrtuiitirz:nt daeumems. tf a condominium or plamrcd unit development
<br />rider is executed by Borrower and recorded together w[th this Morgage, the covenants and agreements of such rider
<br />shag be irrcorpotated into and shall amend and supplement the covenants and agreements of zhrs Mortgage as if the rider
<br />wire a part htroof.
<br />7. Pttaltatiaa of Lemrmier's Secarity. If $orrower fails to perform the covenants and agreements contained in this
<br />Mortgage, or if any action or proceeding is commenced which materiaGy affects Lender's interest in the Property,
<br />including, but not limited to, eminent riomain. insolvency, code enforcement, or arrangements or proceedings involving a
<br />bankntpt or decedent, thtn Lendtr at Leurier's option, upon notice to Borrower, Wray make such appearances, disburse such
<br />sums and take such action as is necessary to protei:t I.,;nder's interest, including, but not Limited to. disbursement of
<br />reasonable attorney's foes and entry ul..,n zhe Pconerty to make repaus. 1f Lender required mortgage insurance as a
<br />condition of making the loan secured by This Mortgage, Borrower shall pay the premiums required to maintain such
<br />it[surattce in effett rmtil such time zs the requitement for such insurance [erntinates in accordance with Borrower's and
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