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80- U~4G4ti
<br />UNIFORM Covtet.nNTS. Borrower and Lender covenant and agree as follows:
<br />i. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and in[erest on the
<br />indebtedness evidenced Ly the Vote. prepayment and tare charges as provided in the Note, and the principal of and interest
<br />an anc Future Advances secured by this Morggage. -
<br />2. Fonds for Tazes and Insurance. Subjec[ to applicable law or [e a wri[ten 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 foil,
<br />a sum (herein "Funds") equal [o one-twelfth of the yearly taxes and assessments which may a[tain priory over this
<br />Mortgage. and ground rents on the Propem, if any. plus cne-twelfth of yearly premium installments far hazard insurance,
<br />plus one-twelfth of yearly premium installments for 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 an institution the deposi[s or accounts of which are insured or guaranteed by a Federal 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 />ur 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 *.hat interest on the Funds shall be paid to Borrower, and unless such agreemen[ is made or applicable law
<br />requires such interest to 6e paid, Lender shalt not be reyuired to 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 debit to [he Fends was made. The Funds are pledged as additional securi[y for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Linder, mgethcr with the future monthly installments of Funds payable prim 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 zxcess shall be. at Borrower`s option, either
<br />promptly repaid to Borrower or credited [u Harrower on monthly installments of Funds. If the amount of the Funds
<br />held by Linder shall not be stet&cient to nay taxes. assessments. insurance premiums and ground rents as they fait due.
<br />Borrower shall pay to Lender any amoun[ necessary [n make up the deficietiGV within 30 days from [he date notiice is mailed
<br />by Lender to Borrower requesting payment thereof. '~i j ~~,
<br />L`pon payment in full of all sums secured by this',Mortgage. Lender hall promptly refund [o Barrower~~, any Funds
<br />held by Lender. if under paragraph I8 hereof the Property ~e sold ur the Pri~perty is otherwise acquired by Lender, Lender
<br />sha!1 apply. no later than immediately prior ur the sale 1, of the Proper~y o~rnits acquisition 6y Lender. any Fu~tds held by
<br />Lender at the ume of application as a credi[ against thesums~seeured ~iby [h'is Mortgage.
<br />3. Application of Payments. unless upp!icable Ia{v provides otler:visl . all payments received by Leaden under the
<br />Note and paragraphs 1 and '_ hereoC shall be applied by ~indei; first in I,payrn~ent of amounts payable to Lender n'iy Borrower
<br />under paragraph_ hereof, then [o interest payable en th~ Nut [hen t1; the principal of the Note, and then ur ~m[erest and
<br />principal un any Future Advances.
<br />i. Chafes: Liens. Borrower ,hail pay ell taxes_ assessments and other charges. finis ;md impositions attrbutahli to
<br />the Property which may a[tain a priority over this Mortgage, and leasehold payments or eround rents, iF any. in the manner
<br />provided under paragraph 2 hereof or. it not patd ~n such manner. by Borrower making payment. ;vhen due, directly to the
<br />payee thereof. Borrower shall promptly Furnish to Lender all ounces of amounts due under this paragraph, and in the event
<br />Horrewer shall make payment directly. Borrower shall promptly furnish [o Lender receipts evidencing such pa}ments.
<br />Borrower shall promptly discharge any lien which has priority over this Jiurtgage: provided. ~hxt Harmwzr shall not be
<br />inquired to discharge any such lien ;o long as Borrotvzr shall aerie in writing to the payment u( the obligauun secured by
<br />such hen m a manner acceptable m i.ender. or shall in good taii,h contcv,[ rich lien by, or defend enforcement of such lien ut,
<br />legal proceedings which operate to pn:vent the ettl orcement ut the lien or forfeuure of the Pruuer.}• or any part thet'eof.
<br />5. Hazard tnsurance. Borrower shall keep dtc improvements ^mv zxisting or heroaf[cr crzucil on the Property insured
<br />against Inns by fire, hazards included within the term "zxtendel coverage", :md such other hazards a-s 1_ender map require
<br />anti m such amounts and for such pcriuds as 1-ender may riyui rc: prnv~clid. the[ Lender shall not require that .he umonm of
<br />such envisage isceed that amount of rovarage rcgwred to pay. the ,;.m'.a vicenrcd by this Mortgage,
<br />The insurance carrier providing the insurance ,hall be dt~~sen by iHorruwir subject to approval M• Lender, nrovidzd.
<br />that such approval sisal[ not bi unre:rvonably w•itltheld, al p~iremimns' un insure rci policies =hail hz paid u. the moon-er
<br />provided under paragrtph Z hereof ur. if no[ paid in such rnanncr. hp Horrnv'er' making payment. wizen due, direcdv w the
<br />insurance carrier.
<br />All insurance policies and renewals dtereot shall be in farm acceptable to Lmtder and ,hall include .t ,tamtorl mortgage
<br />clause in favor of and in form acceptable to Linder. Lender shall have the right to hold she policies end renew:ds thercoC.
<br />and Borrower shall promptly furnish to Lender all renewal notices and all ricaipts ut paid premnuns. In the rent of loss.
<br />Borrn.ver shall give prompt notice m [he insurance carrier and Lender. Lender m;q- make prowl ut Iuss d nut made prnmptlc
<br />6y Borrower.
<br />Curless Lender and Borrower otherwise agree in writing, insurance proceeds sh;dl be applied ~o restoration or repair of
<br />the Property damaged, provided such restoranon ur repay is iconomic:dl}' feasible :md Abe secur.iy ui ties Mortgage ~+
<br />nut thereby impaired. If such resturatiun or repu~r is nut ieonumieally teasibli ar a the seeunw of fits- Mortgage ccuuld
<br />be tmpwred, the insurance proceeds shall be applied a, the sums secured by this Mortgage, wnh ;he zxcess, if ,mv, paid
<br />[o Borrower. [t the Propertc is nb:nnluned by Borrower. or d Borrower f:uls to respond m Linder wrthm 317 daps tram dtc
<br />date notice is mailed by Lender to Horrewer that the insuruu:c carrier offers m scale a claim for imurmcc hinelits. I_euder
<br />is authorised ro cc!lect and apple the msuranci proceeds at LiudirC option inhir to restoration or repair at the Prupertt-
<br />ur to the sums sacured by this Mortgage.
<br />Unless Lender :md Bmrowir otherwise agree m writing, unp such ^ppliC.Uion of proceeds m principal shall mti ewtznd
<br />or postpone the due date o[ the monthly installments referred to m paragraphs I and ~ boreal' ur change :hc amocutt ur'
<br />such installments. If under paragraph l8 hereof the Property is ucyuued by Lender, all right, title and interest +a 13urrnw~ct
<br />in and to any insurance policies and in and m the proceeds fiereo[ resulnng from d;unage to the Property prior to rtte s,de
<br />or acquisition sh:dt pass to Lander to the ex[ent of the sums secured bt~ this ~lurtga gc imntediatul}~ prior ;o much s:de of
<br />acyuisitian.
<br />6. Preservation and Maintenance nF Pnrperf}; Leaseholds; Cundo[niniun[e; Plmwed L'nit Oevelopmvnis, i3orn+w er
<br />shall keep [he Properly in gaud repair and shall nut commit waste or permit inytnirmem or deterioration of the Property
<br />and Shull comply with the provisions ul any lease it this blurtgugc is ~,rn a Ieaschuld. If the. Mor[gagi is on ,~ unit w a
<br />condominium ur a planned unit development. Borrower shall perl'urm :d) of Borrower's ubligauorts under [hc .teclar:dnm
<br />or covenants creating or governing the condominium or planned unit development, the by-laws and rrguhttiom ui the
<br />condominium or planned unit development.:md constiwent Jucuments. II .t condominium ur phmned amt ,ievcl+gmtem
<br />rider is executed by Borrower and recorded iogither svnh this Mortgage. phi covenants and agreements +~i +ue'n rnier
<br />shall be incorporated into and shall amend :utd supplintent the covenants and agreements oC dos Mortgage ;u it Otz rider
<br />were a part hereof.
<br />7. Yrotectian of Lender's Security. 1t Borrower [ads to pelt arm the covenants and ugreemints auntained m this
<br />Mortgage, or iC any action ur proceeding a atmmznced whreh materially :dCects I_inder's unerest in the P•ope!~ty,
<br />including, but not limited to. eminent domain, insolvency, code onto rcimenl, ur urea ngiments or proceedings mvoivntg x
<br />bankrupt or decedent, then Lender at Lender's option, upon notice to Florrowcr, mac make such appearances, disburse such
<br />sums ;md take such action us is necessary to protect Lender', ma-rest, including. but nu[ timin:d to, dishuniment nt
<br />reasonable attorney`s Cies and entry upon the Property lu snake repairs. it Lender reyuired mortgage insur:ce :u a
<br />condition of making the taint secured by [his Mortgage. Harrower siudl pay [he premiums reymred a? maintun such
<br />insurance in effect until such time as the nyuircmeot for such insurance ter minutes in accordance w•hh Hai rawer'; .uni
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