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<br />UkzFO;;n~t Cova>rnxTS. Borrower and Lender covenant and agree as follows:
<br />I. Payment of Princigal.agd Interest. Borrower shall promptly pay when due the principal of and imerest ~cri~ the
<br />indebtedness evidenced by the Note. prepaymen[ and Izte charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lendety $orrower shalt pay.
<br />to Lender on the day monthly installments of principal and imerest are payable under the Note, uniilthe Noteis paid in fudi,
<br />a sum (herein- "Funds") coon! to one-twelfth of the yearly taxes and assessments which may attain -priority over-ibis
<br />Mortgage. and ground rents on the Propertry, if any, plus one-twelfth of yearly premium instatlmentsfar hazard.-insurance,-
<br />pius one-twelftt, of yeazly premium installments for menga¢e insurance, if any, aP-as reasonably estimated irsitially and from
<br />time to time by Lender-on the basis of assessments and hilts and reasonable estimates thereof.- -
<br />T'he Funds sktall be held in an institution *-he deposits er accounu of which are,insured or'guaranteed by a Federai.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 holdine and applying the Fvnds, analyzing said account,:.
<br />or verif}•ing and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable lau•-
<br />ptrmis Lender to make such a charge. Borrower and Lender may aeree in writiog at the-time of ~ezecutidn of this-
<br />Mortgzge that interest on the Fvnds shall be paid to Borrower, and unless such agreement is made or-applicable law
<br />requires such inieresi to be paid, Lender shall not be required to pay Borrower arrv interest or comings on. the Furids. Leader:::
<br />shat! give to Borrower, without charee, an annual accounting of the Funds showing credits and debits to-the~Funds and-then.
<br />purpose for which Bath debit to the Funds was made. The Fvnds are pledged-as additional security for the-.sums-secured.
<br />by this h3ortga¢t.
<br />If the amount cf :he Funds held by Lender, together with the future monthly installments of Funds paya6lepiior to
<br />the due dates of taxes, assessmems, insurance premiums and ground rents, shall exceed the amount required to pay said-faxes;
<br />assessments. insurance premiums and ground renss as they fall due, such excess shzll be, st 'Borrower's option;' either
<br />p;omptly repaid to Borrower or credited to Borrower: on monthly installments of Funds. If the amount of .the-Funds
<br />herd by Lender shall not be sufncient to pay taxes, assessments, insurance premiums and ground rentsas they fall due.
<br />Borrower shall pay Ie Lender any amount necessar}' to make up the deficiency within 30 days from the.date notice-ismailed<-
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Motteaee. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph Ifi hereof the Property is sold or the Prepeny rs otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held bt•
<br />Leader at the time of application as a credit against the sums secured b}' this 'wfottgage.
<br />3. Application of Payments. Un)ess applicable law provides otherwise. all payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shat! be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable cn the Note, then to the principal of the Ndte, and then to interest and
<br />principal on any Funue Advances.
<br />4. Charges; Liens. Borrower shall pay all rases, assessments and other charges, fines and impositions attributable to
<br />the Propert_: which may attain a priority over this Mortgage, and leasehold payments or ground trots, if any, in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, direcfly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this parat:caph, and in the event
<br />Borrower shall make payment directly, Borrower shall promptly fumrsh to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this 'slonea_ee: provided. that Borrower shall no[ be
<br />required to discharge any such lien so lop, as Borrower shall acre! in :vriting to [he payment of the ebligatinn secured by
<br />such lien in a manna acceptable to Lender, or shall in good faith concest such liars by, or defend enforcement of such lien in,
<br />legal proceedings which open_te to prevent the enforcement of the lien or torfetture of the Property nr any part thereof.
<br />S. Hazard Insurance. Borrower shall keep the improvements now exisung er hereafter erected oo the Property insured
<br />against toss by fire, hazards included within the term "extended coverage', and such other hazards as Lender may rtouirt
<br />and in such amounts and tar such periods as Ls rv;itr rosy require; provided. Iha[ Lender shalt not require that the amount of
<br />such cnvuage ezceed that amount of cevtraec reuuired *.o oay the sums secured 6}• this ..*.4crtgage.
<br />The insurance carrier providing rite insurance shalt be chosen by Borrower wbject to approval by I_tnders provided,
<br />!het s+,ch app ova. -:ha *tasoaabiy :•ithheld. a,11 prtrtiums ,a .rsuranee palicit<s :nail he paid the manner
<br />nrmidtd under para?iaoh~t~htreuf or. if nor paid in such mannox, h}• lorrowtr making gaptnent, xlivn due.+diT,.riyy to the
<br />insurance caztier.
<br />Al! insurance policies and renewals thereof shall be in form acceptable [o Lender and shall ntctude :e standard mortgage
<br />clause in favor of and in form acceptable to Lender. Lender shall have the right m hold the policies and renewals thereof.
<br />and Borrower shall promptly furnish w Lender all renewal notices and all receipts of paid pv:miums. In the event of less,
<br />Borrower shall give prompt notice to the insurance carrier and 1_ender. Lender may make pTOO( of loss if not tnadr t+rumptl}•
<br />by Borrower,
<br />Unless Lender :.rid Borrower othtnvise agree i» writing, insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoration er repau is eumomrcally feasible :end the security of thts hf ortgage iz
<br />not the2by impatrtd. It such restoration or reparr is not economically faasibk ar d the security of this ?,'Sengagt would
<br />be impaired, the insurance proceeds shall bt applied to the sums secured by this Mengagt, u~iih the excess, it any, pa;d
<br />to Borrowtr. If the Property is abandoned by Bon~ower, or d Borrower fails to respond ro Lender within 30 days from the
<br />date notice is mailed by Lender :n Borrowtr that the insurance corner otTers :o scale a c{aim fur uuurancn benefits, Lender
<br />is authorized ro collect and apply the insurance precteds at I_rnder's option either to restoration or repau of the Property
<br />or to the sums secured by this Mortgage.
<br />unless I.tnder anti Borrower otherw~ist agree in venting, :env such appiic:tuan of proceeds to pnncrpal strati not extend
<br />or p~tpone the due date of rho monthly installments rtfetred to in paragraphs 1 and ?hereof ar change the aatoant of
<br />such insiatlmtnts. 1t uudu paragraph 1 S hereof the Property is atyuirtd by Lender, all right, title and inicrest of Borrower
<br />in and to any insurance pplicitc and in and to the proceeds thereo: resulting from damage to the Properly poor to the sale
<br />or acquisition steal! l.>ass to Lender to zhe extent of the sums secured b} this ~f ortgage immedtatcly prior t a sucks sate ur
<br />acquisi@ian.
<br />b- I"rtcen~attan and ~t ainxEnanse of Prep~rtyq 1.eayahnlds; #-anrtomiairrnts; Planned !Jolt I?ee e!rtgruent;;. Fiorros+-e:
<br />step!! keep the Property in good repair and shall not commit waste or ptrmi[ impairment or deterioration u( the Pro1>,;ny
<br />and shall cornpiy with the provisions of an}• lease if this ;,!ortgage is on a leasehold, !f this 'vlortaage is on a unit in a
<br />condominium ar a pl~nntd unit devtlopmcnt, Borrower shall perform all of Borrower's sibligauons under the doclarauua
<br />or covenants creating or governing the condominium or planned unit development. the by-laws and regulations of the
<br />condominium or plamtad unit dtvtlapmen4 and ccanstituent documents. !f a condominium er planned amt dcvclopn'tcnt
<br />rider is executed by Borrewu and reccrdtd together write this Mongage, the ::ovenanis and agreements .tf' +wch rider
<br />shall bt incorporated into and shall amend and supplemem the covenants and agreements of this Mortgage as if the rider
<br />were. a part hereof.
<br />7. Protection of Leader's Security. If Borrower fails to pertarm the covenants and agreements contained in this
<br />hiortgagt, ur if any scticn or practeding is commenced which matcriaily aHtcts Lender's interest in the Pruperq,
<br />including, but nut limited to, eminent domain, insuiveney, code en toreement, or arrangements or pruc;cedings involving a
<br />bankrupt or dtctdtnt, then Leoder at Lender's option, upon notice to Borrower, ma} make wch appearances, disburse. ouch
<br />sums and take such action as is necessary to protect Lender's interest, including, but nut limited ro, disburscmtnt of
<br />reasonable attumtt''s lets and eniT}' upon the Proptny to rook! repairs. If L.cnder rcyuircd mortgage. insurance as u
<br />--..-:iio- - -_.~g ;.ht ,-a,._ , --°Fd b.• his ..,;;r ig .gt, Borrrwc-r ihalt pa} ,.._ prcmtunts regta:red :o maintain sac.
<br />insurance i.+ ~,.«t n ~iil sac h iimeuas ibe requirement for ±wch insurance icr mimics ~n accardauce snob Borrow ci, and
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