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8~1--~G~322
<br />UntFOa.+t Covexnr-rs. Borrower and Lender covenant and agru as follows:
<br />1. Paymtat of Principal earl Iatetest. Borrower shall promptly pay when due the prfncipa} of and interest on the
<br />indebtedness evidenced by the Note, prepayment and fate charges as provided rn the Note, and ffie principal of and interest
<br />on any Future Advances secured by this Mo; [gage.
<br />2. Funds For Tames and Ioatmnce. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly installments of principal and interest an payable under the Note, untit the Note is paid in frill,
<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 rents on the Property, it arty, plus one-twelfth of yearly premium installments for hazard iosurartce,
<br />plus one¢we!fth of yearly premium installments for mortgage insurance. if any. all as reasonably estimated initially and from
<br />time to time by Leader on the bazis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits cr accounts of which are insured or guaranteed b)• a Federal or
<br />state agency (including Lender if i~.nder is such an institution). Lender shalt 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 said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable Saw
<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 ro Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not be required to pay Borrower any toreros[ or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting c[ the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Funds are pled¢ed as additional security for the sums secured
<br />by this Mortgage.
<br />if the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the d-ue dales of texts, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said razes,
<br />assessments, insurance premiums and ground rents as [bey fall due, such excess shalt he, az Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held 6y Lender shall ^oi be suf6efeat io pay taxes, assessments, insurance premiums and ground rents as they fall due.
<br />Borrower shall pay to Lender any amount necessary to make up the dc6ciencp within 30 days from the dare notice is mailed
<br />by Leader to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Mortgage, l..ender shakl promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph ]g hereof the Propem~ is .cola or the Property is otherwise acgwred by Lender, Lender
<br />shall apply, no later than Immediately prior to the sale of the Property or its acquisition 6y Lender, any Funds held by
<br />Leader a[ the time of application as a credit against the sums secured fay this Mortgage.
<br />3. Application of Payosems. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs 1 and Z hereof shat: be applied by Lender first m payment of amounts payable to Lender by Borrower
<br />under paragraph ?hereof, then to interest payable on the Note. then to the principal of the Note. and then to interest and
<br />principal on any Future Advances.
<br />4. Charges; Iaeas. Borrower shall pay al! texts, assessments and other charges, fines and tmposiunns a[inbutable to
<br />the Property which may attain a priority over this Aforteage, and leasehold payments or ground reins, if any, in the manors
<br />provided under paragraph 2 hereof or, if not paid in such manner by Borrower making payment. when due, drecty to the
<br />payce thereor'. Borrower shall promptly furnish W Lender all noncts ct amounts Juc under this paragraph, and in the event
<br />Borrower shall make pay~uent directly. Borrower ,hall promptly furnish to Lender receipts evldenemg such payments.
<br />Borrower shall promptly discharge app lien whrch ha< pr,unty treat !his 4lortgagc: orevtded. that Borrower she!! not ht
<br />required to discharge any such lien so long as Borrower shall agree in ~: r:ung to Iht payment of the nbhgatinn secured by
<br />such lien in a manner acceptable to Lander. ~+r shall m good laith content such hen hy, or detend en[orecment ni such lien m,
<br />legal proceedings whrch operate to prevent the cntorccment o! the Len or terfeuure -~+. the Pr-ipenv +.+r ;±r_ _i thereof
<br />Hazard lasuraaee. Borrower shall keep the !mprevements nee eatsung nr h,ereat[er crecttd on the Property insured
<br />aeainet loss by fir:, hazards inetudsd :vithm the term ~ =:tended :._,cr~ge... sod . .tae.= t .za rds :.s . rey:::rc
<br />and in Hoch amounts and [or such pen~tds as Lender may requtrc; pnnuded, thal i.~cmicr ,halmnot mywre timtcthe~anunnn of
<br />such .overage exceed !:tat amount ~ tragt re~t~red . •:ay ;., .u.ns , ..,red by ; „ .,~ aagc-
<br />The insurance carrier providing the :nwraoce +hall be chosen by 13orrowur +u htcct „~+ sFpu,vai h ender ottw:dcJ.
<br />that such approval sha{I not be unreasonably withheld. All premwms nn insurance poiictes <hail re paid m the manner
<br />provided under paragraph 2 hereof or. ;f rot patd m such manner. by Borrower making payment when due. Jtreetly to the
<br />insurance carrier.
<br />Alt insurance poiictes and renewals thereof shall he m form .ICCCptablc to Lender anJ shall m,lude .+ •t:uularJ mortgaee
<br />clause in favor of and m form acceptable to Lender LcnJer ,h:Jl have the ngM t,+ hold the pohcres .uul rencw.:6 thereol.
<br />and Borrower shall promptly furnish to i_ender all renewal notices :uui al: recetpts of patd premu;m, In the c+em of loo.
<br />Borrower shall grve prompt Hater to the mwrance earner and Lcndcr. Lender mal nrtkc proof of loss d not mete prompti,
<br />by Borrower.
<br />Unless Lender and Borrower otherwtse•. agree m wrong, msurancc proceeds shall 6e apphed ro resnrzauon ,+r rep:ur al
<br />the Property Damaged, Provide) such r'tstorauat or repar a ecmtonneully teavble :rod the ,ecunry of thts Mortgage :,
<br />no[ thereby impatred. If such restoration or repair is not ceonnmteally teavble nr n the scanv, ni the, Mortgage + quid
<br />be imparted, the insurance proceeds shall 6e appheJ ro the wins strata) he 4us Uortgage, +s nh ore eselss, a .inv. par)
<br />to Borrower. If the Properry~ a abandoned by Borrower, nr :I Borrower t:uls 0., acs pond to I ender wnhm 3l1 da)s from the
<br />date notice a marled by Lender m Borrower thin the utsurmtce earner ++Ilen m seulc .; dean for ul,urmcc hrncnts. I ender
<br />is uulhonzed to enllect and apply the uuurance proceeJs ar Lcndcr, +,pt:on ether to restoruuon m repau .+1 the Pn+pcrt,
<br />or m the sums secured by this Mortgage.
<br />Unless Lender earl Borrower otherwise agree m wnung..nn ,unit eppl;au am .d p +a~eJs ;++ In;ncq,ei sL:JI inn c,trmi
<br />or postpone the disc dart of the monthly mslailmenls rcltrreJ to ;n paragrapho i ;utJr' hercol or .hange ;tic a uunl ++t
<br />such insiatlntents. 1( under paragraph I8 hereof the Property a nc•^ureJ h) fender, all nght otlc d mi uacrnt of Morn av ct
<br />in and to any insurance polictts earl in and m the proceeds thereat tewhmg Iron damage :u the Propcrt} pnot to the ,air
<br />or acquisition shall na_s to I 'odor ro rho extmn of the wnu ,_cunsl b} this Mortgage uumuJrdcls pnm i.+ ,uch s:;lc ,.
<br />acquisition.
<br />6. Preeer.aPion and i.Iaiairnance of Properly; Lcaseiwids; i'ondnminiums; i'lanned [:roil tic. c•iupnn a..
<br />shall keep the Property in good repair and shalt na comma waste of patina unpuu mina or Jerernn uou:, etrrthc Pngreny
<br />and shall comply with the provuwns ct any lease d this A]atgagc t, ~ t a IcuseholJ. It the, Mot [gage : , net ; .;
<br />condominium or a planned urn Jtvelopmenl, Borrower ,hall perlonn ell of 13ot n,+ur~s ohhg.atorro undo[ the +I til.u .won
<br />or covenan4 creating or governing the condomunum or planned urn devdopment the t,y-laws .uIJ r ,~,ulaunnn ,+f ;he
<br />condominium or nlanaed unit development and ca[sumotn document,. It a rondommwm ur planned amt Jevclopntem
<br />odor is executed ~by Borrower and recorded tegtthcr •.vld, t6ts Mortgage-, the ~u:enanL+~ earl sg:eemcnts .•i ,nd! t;du
<br />shall be incorpoeated into and shall amend anJ supplemem the covenants anJ agreemems ni this ~inngngc ::, .t the nJct
<br />wire a part hereof.
<br />7. Protection of Lataler's Security. If Borrower (ads to pert ntm the covenants anJ agreements :onramcd .n the,
<br />Mortgage, er if any aevon or proceeding is <ommenceJ whrch muterrally ::deers Lend v's overeat in tiro Propene.
<br />including, but not Limited to, cmmeut domain, insolvency. code corm cement or arrangeotems of proczedinus uruokmg .:
<br />bankrupt or decedent, then Lcndcr at Lender's option, upon Hoare io Borrcnscr, may make such uppearmres, dahursa ,udt
<br />sntiL9 and take such action as is necessazy m protect Lcuder's rtuerts[, induJmg, hw not I;mueJ to, dnhu!ecnnau ,~(
<br />reasonable a[tomtv'S fees and en[rv upon the Properly to make repairs. Ir I ender reyuircJ mortgage a s, ~ +
<br />condition of making the loan secured by this Mortgage, Borrower shall pay the prennunts reyuucd ;o mauvnm such
<br />insuraarx in effect until such time as the requirement (or such :nsuraoce wrmmarns ;n axardauce wish Burr.+wel-, :wr,
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