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<br />8C~- ~° :t~£~
<br />Urni=oara Cevianr;rs. Dorrower and Lender covenant and agree as fcllows-
<br />1. Payment of Principal and interest Borrower shall promptly pa}• when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and late charges as provided is the Note, and the principal oC and 'interest
<br />on any Future Advances secured by this Mortgage.
<br />2. Funds for Taws and Insurnnce. Subject to applicable law or to a written waiver by Lender, Borrow~cr shall pay
<br />to Lender on the day monthly installments of principal and interest are payable ander the Nnte, until the Note is paid in full,
<br />a sum (herein "Faints'") equal to one-twelfth of the ycady 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 fo: hazard insurance,
<br />plus one-twelfth of yearly premium instalimenis Cor mortgage insurance, if any, all 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 shall be held in sn institution the deposits or accounts of which arc insured or guaranteed by a Federal or
<br />state agency tincluding Lender if Lender is such an instinrtion ). Lender shall apply the Funds to pay said taxes, assessments,
<br />irsurance premiums and ground rents. Lender may nut 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 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 to pay Borrrnver any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accouming of the Funds showing a'edits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pledged as addi[ionai security for. the sums secured
<br />by this Mortgage.
<br />If the amount of (hc 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 reyuired 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 Borrower on monthly installments of Funds_ iE the amount of the Funds
<br />held by Londe: shall not be sufficient to pay taxes, assessments, insurance premiums anJ ground rents as they fall due,
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days Irom the date notice is mailed
<br />by Lender to Borrower requesting payment thereof. ~ I
<br />Upon payment in full of all sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph i S hereof t're Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the. sale of [he Property nr its acquisition by Lender, am' Funds held by
<br />Lender at the time of application as a credit against the sums secured by this Mortgage.
<br />3. Application of Payments. Unless applicable law provides othenvisc. all payments nceivcd by Lender under rthe
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender b}' Borrower
<br />under paragraph 2 hereof, then to interest payable on the `ore, then to the principal ul the Note, anti then to interest and
<br />principal on any Future Advances.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments and rather charges. fines and impositions attributable to
<br />the Property which may attain a priority Duet this Mortgage. and IeasehnlJ payments or ground rents, iF any, in [he manner
<br />provided under paragraph ?hereof or, if not paid in such manner, by Bornxver making payment, when due, directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all natces of amounts due under tha paragraph. and in the event
<br />Borrower shall make payment directl}', Borrower shall prompfly turn i,h to LcnJer receipts evidencing such payments.
<br />Borrower shall promptl}' discharee any lien which has priority aver this Mortgage: n, aav:JeJ, that Borrower shalt not be
<br />required to discharge any such lien su long as borrower shall agree in +, ruing to the payment of the obligation eecureJ hs~
<br />such lien in a manrar acceptable to Lender, or shall is goes) faille avne,t ;uth lice hc, or Defend enforcement of >uch Gen in.
<br />Legal proceedings which operate to proven[ the enforcement ui the hen nr lorl c;:ure uF the Property or any part thereof.
<br />S. Hazard Insurance. borrower shall keep the mproecmcnts no:, c,i,:ing nr iteraafter erected nn the Pmnerty insr: cd
<br />agamet loss 6y (ire, h:¢ards included within the term "estendc+i an eregr' an6 .uch other hazards as Lender ma} reuu:re
<br />and m such amounts and fur <_uth periods an I-ender may ~_ouire; pr,•, :deJ, that 1 ender sh:e!I not rewire that the am.,an^ nF
<br />such coverage exeeeJ Shat amount cf io•.erage require) m pa}- the wren ,c.nre+l he this 1lortgagc.
<br />The insurance carrier providing [hc ins+!rance shall be ch:~-cr. be Dorr++~.,er subeet to approval by I_en<ic r: n ,+4'ided,
<br />that such approval shat! nn[ fie unrcawnably withheld. :1i1 prcm::nm on insurance polines ,ha!! fie paid :n the ~:r.ar.ner
<br />provided under paragraph 3 hareuf ur, t[ no[ paid in such manner, h} Darn+wer making payment, when due, directic to the
<br />insurance carrier.
<br />All insurance pohcics anJ rencu als thereof shall be m form a.ceptabla to I.enJcr :md shall mclud;: a ,tondard ntongacc
<br />clause in favor of and in form acceptable to isndtr. 1_endcr sh.tll hove the right to hold die pnGaas and tenet .d, thcrcoi,
<br />and Borrower sh:nl prntnptly furnish to Lender ail ranee; l nuuces anJ :dl rceeipu of p.nd premium, In the et oral of Ins,
<br />Borrower shalt give prompt notice to the insur:utcc• can~ier and Lemler. LcnJer ma} ntal.e pmot of loss tl n.+t made promptit
<br />by Got rower.
<br />Unless Lender and Borrower etherw ne agrcc in ,t riunc. m,uranae pre+cea!, shall be nppl:ed to re+t,+ratinn nr repair of
<br />tix Property damage), provided such restorauun. or repair is au,nnnua:llt teaabl: anJ the ,eaurip of th:s Mongagc :,
<br />not thereby' impat red. If such restoration or repair is nol eronomitallp ica,:blc nr :t the aeeunn of the Mortgage ~.n+u1J
<br />.n•. impaired. the insurance proctecb shall b,: applicJ a+ the sums seta rat h, Ihi, M++rtgage, snit the cvucs. if an}'. p:ud
<br />to Borrower. I( the Property is ahanJoncJ M Borrtwvcr, ar a Borrost-cr f:..h to re,ponJ to i.cnJor within 3U Jn,s :rum the
<br />Date noUCC is maileJ 6y Lender to Burrower that the insurance cn trier .+iler, to settles a d,an: 0+r a„urance henefiu, Lender
<br />is :mthonzeJ to collect and appl} the msuraua• pre+ceeJs ut Lenda\ upuon either to reator:uum or rcpatr of the Prepcrt~.
<br />or to the sums secured by this 4ortgage.
<br />Unless Lender and Borrower nthersc ise agrcc m svnung, an: wch epplicanan of pre+.eeJs to pre ncp,ol ,hell not even)
<br />or postpone the clue date of the monthly installmenh rcfrrrcJ to in paragraph, I and '_ ben•++t or change file antrum o.
<br />such instaiintenn. If under paragraph le hereof the Prxtlxrty i, a.yn wed in Lanier. all right, retie anJ interest ~+t Dorrower
<br />m and to an} insurance policies and in and to the procceJs iherent resuh mg Irom Damage to the Proper,} prior to the snit
<br />er acuutsrtten shall pass to Lender m the o..tcnt of the soots s_curcJ b} this \0.x!ca ge u.vnedcuch~ ; c.r t., ,uch sole ,.r
<br />acyuisition.
<br />6. Prescn anon and Maintcnanm of Property; Lcascholdc; (lautnminiunrv; 1'I:wned l.'nit Uc, clupnunls, Ho; n+v.er
<br />shall keep the Yropet'ty in good repair and shall nut commit ~+vaste or permu myunnnenl or dcteriurauon of the Prapeny
<br />and shall comply ,with the provisions of any lease tt thu 3l ortgage is +at e le.ix•h.•Id. It the ~t of t;_aec is on a unn in a
<br />condominium or a planned unit Jeeeiupment, Borrower ,hell perionn all ++f lint ro,st•rs obi:guuorn unJcn the dca:aahen
<br />ur covenants creating or governing the condominium or pLtnneJ unn Jovelopment. iha by-lav., anJ regulahom. of the
<br />condominium ur planned unit development, and tonstiatent tioeunwnr, It a amJnmimum or pLatrrd +.inrt Jes eh+pntent
<br />nder is executed by Borrower and recorded together wah the M++rtgage, ti:c c ,ales rats unJ ngrecmu.ts ul ,uch ruler
<br />shall be incorporated into and shall amend and suppicntcnt the c>~cnanh anJ agreements of the Mortgage as it the ndcr
<br />were a pzrt hereof.
<br />7. Protection uE Lender's Security. If Dorrower f;uh !~~ perform the coven;uu,~ unJ agrecmcr.ts cuntanted in thi,
<br />Mortgage, or if arty action or proceeding is commence) which mattriallr alTacts Lender's interest in the Pruprn~~,
<br />including, but not limited m, eminent domain. insolvent}, code enforcement. or arr.!ngements or procecJine. nn•oiting a
<br />bankrupt or deredent, then Lender at Lender's option, upon notice to Dorrower, ma} make su.h appearances. dnhurx ,uch
<br />sums and take such attion as is necessary to protect Lender's interest, uteluJmg. bra not hnu teJ t~. +li,hu ncntem ~.
<br />reasonable attorney's fees and entry upon [he Properly to make repairs. 11 Lender reyuired mortgage insurance n
<br />eonditton of making [he loan scour) by this Mortgage, Bon~n•a~er sh:Jl pay dtc premiums reynu~cd ;o m:untac; such
<br />insurance in erect until such time as the rcyuirement for such utsurnnce terminutcs m ^caxda n~c ~.rnh Du. rosre r; .wJ
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