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<br />Urr~oasi COVENAN7s. Borrower and Lender covenant and agree as follows:
<br />I. Payment o£ Prlnclpa! and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedne_cs evidenced by the Note, prepayment and late charges as provided ut the Note. and the principal of and interest
<br />on any Future Advances secured by this Mongage.
<br />2. Funds for Taxes and Iastrrance. Subject to applicable few or to a written waiver by Lender, Borrower steal! pay
<br />to Lender on the day momhly ins[aBments of prncipai 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 ground rests on the Properly, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium installments for mortgage inspranx, if any, a1i as reasonably estimated initially and from
<br />time to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds sbali be held in an institution the deposits or accounts of which arc insured or guaranteed by a Federal of
<br />state agency !including Lender if Lender is such an institution). Lender she!! apply the Ponds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Fttnds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />perniits 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 paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not be required m 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 dthit to the Funds was made. The Funds are pledged as additional security for the sums snored
<br />by this Mortgage.
<br />1f the amomn 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 Borrowers option, either
<br />promptl}• repaid to Borrower or credited to Boroower on monthly installments of Funds. If iht amount of the Funds
<br />held by Lender shall not be sufficient to pay razes, assessments, insurance premiums and ground rents as t}tey fall due,
<br />Borrower shah pay to Lender any amount necessary to make up the deficiency witfsir. 30 days f; o.r. the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured b}• this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />held by Lender If under paragraph 18 hereof the Prapeny rs sold or the properly is otherwise acquired by Lender, Lender
<br />shall apply, no later than Immediately prior to the sale o£ the Property or its acquisttion by [xnder, an}• Funds held by
<br />Lender at the nine of application as a credit against the sums secured try this Martgsge.
<br />3. Application of Payments. Unless applicable law provides otherwise. all payments received by Ltnder under the
<br />Note a.nd paragraphs i and 2 hereof shall be apphed by Lender first m payment of amounts payabte to Lendtr by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then m interest and
<br />principal on any Future Advances.
<br />4. Charges; Liens. Borrowtc ,hall pay ail axes, assessments and other charGes, fines :met rmppsitians attributable to
<br />the Property which may attain a pnodry over this Mortgage, and Itasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof oc If not pard m such manner. by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all notices oC amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any hen whrch has pnonty Deer thu Mortgagee pnwtded, that Borrower shall not be
<br />required to drscharge any such lien so bog as &vrower shall agree m +,~Ung to the payment of the obligation secured h}'
<br />such Tien In a manner acceptable to Lender, or shalt m goad Cash contra such lien ity, ar dttemi enforcement at such lien in,
<br />legal prnceedin~ which uptratc• to prevent the cniurectncnt :*f t!tc !:c:t or forte:ture of the Property x :u„ part shereof.
<br />5, Hazard Insurance. Borrower she!! keep the unproecmenn now cslvung or hercaittr erected pn the Pmptrty Inwred
<br />agaurst bss ny fire, hazards included wrthm the term 'extended awcragr~. ~md wch other hazards as Lender may regmrc
<br />and .n such amounts and for such periods ;.. 1 tncicr rnav regmrc: pm~-Ided. That Lender ,bait not rcytrire that rite unumnt tit
<br />such cuvtrag_ ~__e:_d that amount oI ~ .erase rtyu:rtd et pee rhr +ums = ,:tired by this =.ortgsge.
<br />r
<br />r`.e in5pranec Ca rtcr ptaYldlne file m5uraneC shalt L+t Cho+en n}' Horraw Ct SUbtect to apprOVal by Lender: provld@d.
<br />Thal SUCK appfp Val shall not hC unfeasanably wt[hhcld All or~mn,m. y?n ~n c, n~,nr,~ n,il i~~,n. .h_.11 h_+ narri ??? the m
<br />~nnP~
<br />provided uncle; paragraph 2 hereof ae, d not pmd m such mauntr, by Borrower making payment, when due, directly to the
<br />rUSUraS~e catilet.
<br />All insurance poheres and renewals thereof shall bt m Corm acceptrble to L-ender and shall include s stmniard mortgage
<br />clause m favor of and m form atteptable Io Lendtr_ Lcndcr ,boil ha,c the rtght to hold the puliues ,u,d reocw ate thereof.
<br />and Burrower shall promptly furnish to Lcndcr ail renewal nonce end ell rccrlpts of paid prenuunn Rt Ute event of lox.
<br />Borrower shall give prompt nonce to the ntsurmn• earner and Lender I crdcr msq make proof of loss II nut made promptly
<br />by Borrower.
<br />Unless tender nod B01'Pi)wet othenslst agree m wrung, mauanec proeced+ shall be apphed to restoration or repair of
<br />the Property damaged, provtded such rrstorauon nr repair is cumonucall}' Icasrblr and the +ecunty of Ibis Mortgage n
<br />not thereby imparted. tf such restocnion or rep:ur is not ecouumlealh~ Ie.tslblc or rt the secunn~ of this Mortgage would
<br />bt impaired, the msursncr proceeds shall be apphcii to the ,ants secwaf M the Murtguge, wnh the excess, rf any. pall
<br />to Borrower. If the Property Is abandoned M Harrower, urn &>rn,wer Loh a~ respond to Ltnder wnhu+ 3t1 Jaya tram the
<br />dale noUCe rs marled by Lender to borrower that the uawan t .er~er ullen Iu ,rule a drum Car u,sutnnec hrnr3its, Lender
<br />is aU[hariztd to collect and apply the Irourauct proceeds ,a ! rode! + option rnhtr to restornuon or rep:ur at Ihr Property
<br />or to the sums secured by thts Mortgage
<br />Unless Lendtr and Bprrowrt othenw=x ngrce m wunng, .m: ,a+h ,q,pheenau „1 proceeds to pnnapal ,h.ul nut extend
<br />ur postpone the dot date of Ihr utonthlc mslullmenh letern-d <u u, psrsgl aph. I and hen;ot ur ,hinge the .mlount tit
<br />such instaihnents. 11 under paragraph IS hercai the Pr.,ptn} n .reyuucd h, Lendcl, ,dl right, ntle ;uul interest ,~t Borrow rr
<br />in and to any insurmct poli;:Ies and in and u> rht pn,cceds thertut Irsulung from damage u, the Pn,prrn pour to the ,ale
<br />or acquisition sh:dl pass m Ltnder w the catem of the +anu ,ecured by rho \tul tgage unntcduttclc poor Iu .uch +ale or
<br />acquisition.
<br />b. Preserention and ~Ytriutcnance tit Property; Leaseholds: i outlaminitutt+, PtannrA i_4t{t I)er elapnrtuts. fton om rr
<br />shall kelp Ehe Pmptrty in geed repel!' end >hall no! utmnut w-astt .. :rrvt .pauluer.t or :eicnartnon o, Ihr Proptrt:
<br />and shall comply whit the provrsauns of any !gust It dos Mortgage ~, tin .. Ic.uchuld 11 thl+ Mortgage non ., .mu ~n ..
<br />condontintutu or u plmmed amt derebpmeut. Borrower ,hall prrtnnn ell of Hurn+we-rs nbhgauuns node! the ;,lee Lu dlunl
<br />or covepmtts crcanng ur govermog the amdanuuuun .n~ planned anu dcvtlapmmu, Ihr hq-law, •utd rcgulauom uI Ihr
<br />condominium or planned unit development, end euroutuem doe untem. II .. condununitrm or planned urn dr, clupnx•nI
<br />rider Is executed by Burtow•er and recorded together wnh this Mortgages the .orcounts .Ind a:;rccnunh .a wd: ndei
<br />shall be incorporated into and shall amend send euphicnrerst Ihr covenants and agreements of Ihr+ A;,,rtgsgc .n ,I the ndet
<br />were a port hereof.
<br />7. Protection of Lender's 5eeurity. It Borrower tails u, perform the covenants ;md agreemenes .ontamcd !n chi,
<br />Mortgage, or if any action or proceeding Is cummeneed whrch ntarermlly altects Lcndcr'+ inrerc+I m the Proprm.
<br />including, but not limited to, eminent domain, insolvency. rude enforcement or urrangentenls ur pn,ccedmgs tin-ohing .I
<br />banknapt or decedent thin tender at Lender's ophon, upon sauce to Bonc,wer. nw, make such appearanen, duhurse ,ugh
<br />sums and take such action as is necessary to protect Lender's interest mrludmg, bin not limned to. dnbursemtat ai
<br />rrasonabit attorney's tees and entry upon the Property w mukt repairs. it Lender reyuircd mortgage msurunce e
<br />eondiuon of making the loan secured 6y this A9ongage, Borrower shall pay the prtmlums requirtJ to mainnun ,udt
<br />iasursn:. in tf;?ct until sac;: t....~ ~s the requiF etrten: tar such ~.tsurance tcrmmates m ,.4tc ~`dan.t with Berrowcr~, and
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