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<br />80 t304715
<br />UNIFORM COVENANTS. BOfCOw'tr and Lender cnvcnant and agree ;a follow-.:
<br />I. Paymrni of Prindpni and In(eresl. Unrm:vtt shall pn,mpdy pay sv4en due the prncipai of and interest on the
<br />mdebtedress evidenced by the Note, prepayment and late charges as p rovided m the Note, and the principal of and interest
<br />on any Furore .Advances secured by this Mortgage.
<br />Z. Funds for Taxes and Insurance. Subject to appticablc law or to a written waiver by Lender, Borrower shat{ pay
<br />to Lender on the Jay monthly installments of principal and interest arc p:ryabic under the Note, until the Note is paid in full,
<br />a sum (herein "Funds") equal [n one-nvd(th n( the yearly taxes and a ec<mcn1S which may attain priority Duct this
<br />Mortgage, and ground rents on the Property, i! any, plus one-twelfth of yearly pn:mium installments for hazard insurance,
<br />plus onc•twelfth of yearly p«mium installments (or mangagc insurance, i(:my, all as reasonably estimated initially and from
<br />time to time by Lcndcr on the basis of asscssmcros and hills anJ rcasonahk cstimatcs thereof.
<br />Thc Funds sfi:dl be held in an institution the deposits nr attrnmts of svhic•h arc insured nr guaranteed by a Fcdcra! or
<br />state agency (including Lender if Lender is such an institution). Lcndcr khall :apply the Funds to pay said faxes, assessments,
<br />insurance premiums and ground rents. Lcndcr naay not charge for sn hnlJing ;mJ applying the Funds, analyzing said account,
<br />or veri(}•ing and compiling said assessments and hills, unless Lender pa}•s Borrower interest nn the Fumes and applicable law
<br />penniu Lcndcr .o make such a charge. Bnrrowcr and Lcndcr may agree in x•riting m the lino ~of exeeulion of this
<br />Mortgage chat interest on the Funds shall 6e paid to Bnrrowcr, anJ unless such agreement is made or applicable 12w
<br />rcyuires such interest to be paid, Lcndcr shall not be rcyuired to pay Borrower :m}• interest or car•~ngs on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting nC the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. Thc Funds are pltJgcJ as additional securty for the sums severed
<br />by this Mortgage. ,
<br />I( the amount of the Funds held by Lcndcr, together with the (more monthly inslalbncnts of Funds payable prior to
<br />the due dates o! taxes, assessments, insurance premiums and grounJ rents, shall exceed the amount required to pay said-taxes,
<br />assessments, insurance premiums and ground rents'arthcy fall due, such excess shall be, al ftorrower's iopiion, either
<br />promptly repaid to Borrower or credited to Borrower nn mm~thly installments of Funds. IF the amount ',oC .the Funds
<br />held by Lander shall not be sulTicient to pay taxes, assessments, insurajeec premiums ancf ground rcjats~ as '..they fall due;
<br />.Borrower shall pay to Lender any amount necessar}• to make up Itia.Jeficiency within 3U days (croft the''date notice is mailed
<br />'by Lender to Borrower requesting payment thereof. '.
<br />Upon payment in full of all sums secured by this Mm-tgnge, i,cnder shall promptly refund Io Borrower any Funds.
<br />held by LcnJcr. IC under paragraph lti hcrcof the Propcny is sold or the !'ropcrty is othcnvist acquired by Lcndcr, Lcndcr
<br />shall appl}+, no later than immcdiatcly prior to the sale of the I'r[},,trey ar its, acquisition b}• Leander, any E?unds held fig
<br />Lersder at the time o! application as a trail[ against the sums secureef hrv 4his aM nrtgaF;e.
<br />J. Application o[ Poyments. Unless appbcahle law provides othenviu. :JI pavrnents received by Lcndcr under the
<br />Nine and paragraphs 1 and 2 hcrcof shall be applied by Lcndcr first in p.rv rum nl amounts payable to Lcndcr by borrower
<br />under paragraph 2 hcreoL then to intcrest payable nn the Nutc, then to the principal of the Notc, and then to intcrest anJ
<br />principal on any Future •idvances.
<br />S. Cbarges; Liens. Borrower shall pa)• all talcs, assessments :,rid ,+nc~r chaigcs, fines anti impositions altribWabic to
<br />the Propcny which may auxin a priority over this Morleage. anJ IcascholJ payments nr ground rents, if any, io the manner
<br />prucrJcd unJcr paragraph 2 htrcoi or, rf not paid in such manner, b) ILxinn•er making payment, when due, duccdy to the
<br />payee rhe«u!. Borrower sh:dl promptly furnish k, LcnJcr all notices n( :un nu nix due muter tbis paragraph, and in the event
<br />IJorroxer shall make payment ,lirectly, Uorrowcr shall promptly hmush to Lcndcr rcccipis evidcnetng such payments.
<br />Borrower shall promptly discharge mty lien which has priority over this Mongaec: prr.ciJed, than Borrower shall not be
<br />rniwrcd w Jischar ge any such lien so long'u Borrower shall agree i .r rn in}; !, ^:c pa}nunt of the nlrhgation secured b}'
<br />urh hen in a manner acceptable to t-coder, or shall in good fai[h conm.r such hen hy, or d, lent cal orecmtnt of such lien in,
<br />Ieg:J proc'cedrngs which operate to prevent the enl<rccmrnt of the ben nr furfdnut of tru: Propene or any part thereat.
<br />5. Ilazxrd insurance. Borrower shall keep the improccmnue nrnc r,ist u,c or !,ereaAcr ereemtl nn the Pn}petty insured
<br />against loss by fire, hazards included within the term "extendcJ ai+acragu" .anJ sr h n;her hazards as Lcndcr a:ay require
<br />:usJ m wch amounts ar,d (oc' such periods as Lcndcr may require; prosldc J, that L,''ndcr ;hall out require ti,at the nnwunl of
<br />such e::vragc exceed tha; amount nC coverage required to pay the sums nr.4:!:eJ tw ibis .`.fun gage.
<br />Thc insurance carrier providing the insurance shall be chosen hry Uurrm, cr suhicct to ;q}proval L Lcndcr, pruv:ded,
<br />that wch approval shalt not he unrtasonahly u•ithhc W. :\II i,rcmiunn nn m.a,.: ntc pnlincs sh:di 6c paid :n the manner
<br />ryovidcd under paragraph 2 hcrcof ar, if not paid in such manner, hp I1nn a+ctr making payment, when due, directly to the
<br />insurance carrier.
<br />All insurance politics anJ renewals thorn( shall be in form actepteblc n, I ender anJ si,all include a standard mortgage
<br />clause in Lrvor of and in form aeecptable to Lcndcr. Lcndcr snail have the i fight to hold the policies :nut re ntw:Js thereof,
<br />and Borross•er shall promptly furnish to Lcndcr all renewal notices and :dl rnapn ul paid prenuunn. In the event of loss,
<br />Uorrmver shall give prompt notice to the msuranee ca trier and 1 cnJtr. I coati mu) snake prom a( loss it not made pr~mpd)'
<br />6y Borrmvcr.
<br />Unless LcnJcr anJ lorrowcr othrnvisc agree m ,s citing, incur;utrc pro. all shall he applicrl to resew atiun or repair ur
<br />the Property damagcJ, proviJcJ such restoratwn or tcp:ur is cconnnuraliyt lc:nihlc anJ the zecunty of ibis fit nrtgugc is
<br />not thereby impaired. Ii such restoratwn or repair is not economically Ica.rble or if Ole stew sty of this .,V ongugt would
<br />be impaired, the insurance proceeds shall be applied to the minx seemed h) this Mnng.rge, ,nth the excess, if ;my, Paul
<br />to Borrower. 1( the Properl} is nbandoncd by Uorrox•er, or it Barn,+vcr LnI~ in rc. punJ to 1 ender within i0 days from the
<br />J:nc nmiee i; nulled 6y Ltndcr to Bnrrowcr Ih;u the insura ncc e:urier often io vnlc :; claim fur nuur:mcc hcncfus, Lcndcr
<br />s uwhmized to tolled and apply the msura ncc proceeds at LenJet'x upiuw c:tircr m res(m seam or repair of the 1'n>pcrt}
<br />or la dtt sums scarred by this Mortgage.
<br />Unless Lender and Dofrower olhtnvise agrcc in ss citing, ^ny such appGaaiu,n of proett•ds to pima pal ,hall nn1 extend
<br />or postpone the Clue dolt of the monthly inslallnsents n-l ttred n, in paragraph. I anJ 2 hcrcof ur change tht :unounl ul
<br />wch uutallments. ll under paragraph 18 hereof the I'roix•ny a acquucJ bj i ~~nJer, all right, ante :nut intere>: of Ilorrnx er
<br />in and In .ln)' InSOranee policies and in am! Io the proceeds thcrcol :tudw,g !r,+m d;unage h, ;he Propcrt) pn,rt Iv !tic sale
<br />or acquisnioo shat: pas to Lcndcr to : hs tsetse cf the -suns aecnn•d b. rh,s '.,,,rig;, rc unn,edrdrlg pno: r. wch salt- or
<br />acquizit can.
<br />b. Prestn~atimt and ttainlumnce o[ Properq-; Leaseholds; (~nndnmiuiunts: Planned Unit he, chryaucnts. Uorrowcr
<br />>hall keep the Property in good repair and shall not comma m•asle or per nut :mp:m meat or Jeteriuranon , . .,:c Property
<br />and zhall 2omply with the provisions o[ an}' lease 1t thu hfongage is nn a Icasch,+IJ. I( ova >turtgaga is ,,, ~, n,it m a
<br />condominium or a planned unit development, Borrower sh:dl perform ,II o1 Iku n,..cr.s ohhg.aions ;.: nicr the deciararion
<br />or eoveruuus cre:ning or governing the condominium or planned unit dee;;lopmeut. the b)Jasss anJ ;cgulat u+n, „! the
<br />condominium or planned unit development, and consiiurnn +bcumenrs II :, onJnrnmiurn o LuusJ uu.; :ic+el.,pmer~
<br />rider is cseculed by Bnrrowcr and recorded together wdh this klm y;age, the .avcmm~r• an,f a cnunh of such ndcr
<br />shall be incorporated into and shalt amend anJ supplement the covennnt.c and agreements of thu ~trkor tgngc .n rf the rider
<br />were a part hcrcof.
<br />7. 1'rotcdion o[ Lenders Security. I( Borrower fails lu pa form the t rants and .:grccnx•uts t,vrimr,cd m tha
<br />Mortgage, or if any action or proceeding is commenced which maa•rialk .Vflcctx Lender's nut: est m the Property.
<br />including, but not limited lo, eminent domain, insolvency, code solo recment, n' arrangement.::, .eecdinln :nwh: mg a
<br />bankrupt or decedent, then Lcndcr al tender i option, upon notice to Uorrowcr, nun• make sod, :y,pcanmccs, drxhurse raci}
<br />scans and take such action as is necessary [o protect Lender's ime«st, inchnling, but not tanned tu, daburement of
<br />«asonablc attorney's leas and entry upon the Property Iv make repass. If Lcndcr rt nri nuvq;agc innuanec as a
<br />emtdnion of making tha loan sctU«d 6y Ibis Mortgage, Uorrowcr sh:Jl nu}- the premi,nns :egatrnJ to mcinl;un such
<br />insuranet in eBcct until such time as the requiremem for such invu sort rt•rminnlts m ac,:nnlarce cash Rurtosccr~s and
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