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<br />LiNIF6RM Covrxnxrs. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest. Borrower shag promptly pay when due the principal of and interest an the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided in the Noie, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. Funds for fazes attd Tnsurance- Subject to applicable law ar to a written waiver by Lender, Harrower shad pay
<br />to Lender on the day monthly installments of principal and interest are oayable under the Note, until the Note is paid in full,
<br />a stun (herein "Fonda") 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 one-twelfth of yearly premium installments for hazard insurance.
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, alt as reasonably estimated initially and from
<br />time to time by Lender on the basis of assessments and 6ilis and reasonable estimates thereof.
<br />The Funds shall t?e hdd in nn institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such nn institution). Lender shag 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 Bald assessments and bills, unless Lender pays Bnrrnwer interest on the Ftmds and apolicable7aw
<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 paid to Horrowcr, and unless such agreement is made or applica63e law
<br />requires such intents. 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 anaual accounting of the Funds showing credits and debits to the Ftutds and the-
<br />purpose for which each debit to the Funds was made. The Funds are pledged as additional security fer the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender. together with the future monthly installments of Fmtds 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 tall due, such excess shall be, at Borrowers option, either
<br />promptly repaid to Borrower or credited to Bnrrnwer nn monthly installments of Funds. If the amount of the Funds
<br />- d by ~ rider shall oaf he sumcient to pay ea~xes: assessrtlents, insurance premiums and ground rents as They fail 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 Leader to Borrower requesting payment thereof.
<br />Upon payment in frill of alt sums secured by this Mortgage, Lender shalt promptly refund to Borrower any Funds
<br />held by Ixnder. If under paragraph 15 hemoi the Propery is sold or the Property is otherwise acquired b}' Lender, i_ender
<br />shall apply, no later than immediately prior to the Bale of the Property nr its acquisition by Lender, any Funds held by
<br />Lender at the time of application as a credit against the sums secured try this Mortgage.
<br />1. Appfieatton of Payments. tJnfess applicable law provides otherwise, all payments received by Lender under the
<br />Nate and paragraphs I and 2 hereof shall he applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph '_ hereof, then to mterest payable nn the Note, then to the principal of the Note. and then to interest and
<br />principal on any Futter Advances.
<br />d, Charges; Lieu. Borrower .hall pay alt taxes, assessments and other charges, fines and impositions attributable to
<br />the Propem• which may attain a prwritt• over this Mortgage, and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hrreni or. d not paid m such manner. 6y Borrower making payment, when due, directly' to the
<br />payer [hereof. Bn:rower shall promptly furnish to Lender ail nouccs of amounts Jue under this paragraph, and in the event
<br />Borrower shalt rnakr paymem directly. Borrower shall promptly tarnish to Lender receipts evldeucing such payments.
<br />Borrower shall promptly discharge any hen which has pnnrlty ,!vet this Mortgage: provided, that 8tlrrawrr shalt nol be
<br />regmreJ to J:schargs any ss;cfl lien =a :ang as Borrower shall agree :n u~rlung to the payment at rho obligation secured h}•
<br />such hen In a manner acceptable m Lender, ar shall io krwd taah contest such lien hv, or defend cntorcemcat of such lien in,
<br />legal p«?cecdmns which „oerlte to prevent the ref orccment of the lien nr (or(elture of the Property or any part thereof.
<br />5. hazard tr~ursnee. Harrower chsll keep ilia rmprnvemems now existing or hereafter erected on the Property insured
<br />~t !- .._...aza ws .nclu . » .-:ih:r the r,rm ~'ext.ndrd ~~+eearz'~. anti uch nth:.-. za:u as L coder nlay require
<br />:rid •la Borah amount. ar:d for .uch n~-r:_ris ;,ti Under snap regmrc; Fro-•cded. that L._•~nder sh:il1 =lot ras;utrt• that the amnuat of
<br />°••^^ --~ •°•"^' exceed •^.,• • .: .. i+:'c C""c is ""'r"J t,+ ~ iiiE . lirlS ..ill «°d YS~ ihli '~:oY"a-e.
<br />Tfie insurance earner prnvidiug Fhe uuurance shall he chosen by florruwcr subject tp approval by Lcoder, provtded,
<br />that such approval ehati not 2 unrea~nnat;iy withheld. Ail premletm:+n msu«snce poherc'S shall he paid m ihr moaner
<br />prnvln ~- .,.r,.. °sge: p,. ,. irer:eri .r. „tic: paid In _neh manner. by Horses •er rnazmg paglneni. »llca Jac. dlre~iv ea .~
<br />insurance cornetts
<br />A11 insurance p oliclcs .end renewals thereof shall In: m form acceptable to t_cuder and shall :ndudc o standard mungage
<br />clause :a favor of and m form acceptable to LAndrr. Lender shall have the tight m hold the poireics and renewals thrreol.
<br />and Borrower shall promptly furnish to Lender all renewal nouccs and al rrcapts of p:ud premmms. In the event tit loss.
<br />Borrower shalt glee prompt enact to the insurance ca[ncr and lender. Lender may make proof of loss if not made promptly
<br />6y Bnrrnwer.
<br />Unless Lender and Borrower othenvue agree m ,antmg, insurance proceeds shall he applied to restoration or rep:ur of
<br />the Property damaged, provided such restoraunn ar repare a awnonncatly veavblc end dlo aecunty of this \M1ortgagc :s
<br />not thereby impaired. It such restarauem or repair is nix ecunonvually teasihle or :; the sacurny of this Mortgage would
<br />ere :mpaued, the insurance proceeds shall br applied to ilia Burns secured by this Mongagr, oath the excess, if .my, paid
<br />ru Borrower [f the Property a abandoned Ixv Horrowcr, or It Borrower tails to respond to Lcndir uathm 3V days from the
<br />date noucc :s nmded 6y Lender to Harrower that the utsurancr rattler uHe~ is Beale a chum for :nsurmiee benefits, Lender
<br />is authori'tetl to collect and apply ilia utaurauce proceeds :rt Lender's option either to restoraunn or repnlr of thu P«itx:ny
<br />ur to the sums secured 6y this Mortgage,
<br />Unless Lender and Borrower uthenv ur agree m wntmg, env such apphcauon of proceeds to pnoclpal shell net cstend
<br />or postpone the due dale of the monthly instalhnrnts referred to m paragraphs I end herent or change the amautlt of
<br />such installments. (1 under paragraph I t+ hereof the Property is acyuued by 1-ender, ell tight, titer and mterest of Hormu-rr
<br />in and to any insurance policies mid in wd m die Fr<?cods thereof resuRutg from Jttmage to the P«,perty- pour to the sale
<br />nr acquisition shill pass to Lauder ro the extent of the sums svroured by thu ~-fcrrtgage mnuadtntcly pour w ,uch side or
<br />aegt3iatirnn.
<br />h. Pt~scn~atinn and \Taintenattce of PrePeny; LcasshchTs; t'ocdnmhiiutns; !'lanced ! Irrii L]evell!pnteoLs: floe n,w.~i
<br />shall keep the Property in gcwd repair and shall not commit waste ur pernvt unpuinnem cr drtenorauun o! the P«lprrty
<br />and shall comply with the provisions of any (ease d this !vlongaee :s nn a Ieasehaid. It Ihls '••hn-tgagc i, on n unit m .+
<br />condominium or a planned unit development, Bnrrnwer shall Fcrl orm all of Borruwcr's ubhhuuons under the dcclarauun
<br />or covenants creating or governing the condonumum or planned unu developmmx, the try-laws and regulauum of the
<br />condominium ar ptattned unit development, Auld constituent documents. It a .unJommlum or planned unit Jevetopmcnt
<br />rider a executed try Boranwer and recorded together evlth this ?.-lortgage, ,hc ,overeants nerd agrernlcm, .:1 ,aril ::,ter
<br />shall be incorporated into and shall amend and suppicmrnt the covenams and ~igrecmcnts .d Ih:s Mortgage as ii the nJei
<br />were a pan hereof.
<br />7. Protection of [.cedar's Security. tf Borrnu~cr furls to perform the: covenants and .lgreements ~om:uncd in ~hrs
<br />Mortgage, or if ant action or proceeding is commcnceJ which materially :dtects I enders interest m ilia Y~.,pe rte.
<br />including, but not limited to, eminent domain, insuh~ency, care enh+rcement, or er rangemm~ls or proceedings ulvoh~ulg ,i
<br />bankrupt nr decedent, then Lender at Lender's option, upon noucc to Horrowcr, nine make such appcar:utces, dshursc Such
<br />soma and take such action as is neeessnr}• m protect t.ender's mterest. urcludnlg, hat not hooted to, Jisbunentrnt of
<br />reasonable attorney's fees cad entry upon the Property to nlakc repau s. if tender required mortgage uuur:.n,ce .,.
<br />enntitian of m°..king the loan secured try tits Mortas;;e, Borrower sh~aL' I>ay the °:nlums requn~d .., :nain;a:n ,uch
<br />insurance i., rlfeci tmii! snch time a~ the rquireaient fer such :nsarancc ;ermmates~m accordance wath Hatr.:vver~< end
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