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<br />UtvmoteM Covrrrnrtrs. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principe! and interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepaymen[ and late charges as provided in the Nate, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. Foods foe Taws and [vsurence. Subject to applicable law or to n written 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 full,
<br />a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority aver 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, all as reasonably estimated initially and ftnm
<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 deposits 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 />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 imerest on the Funds shall 6e paid to Borrower, and unless such agreement is made or applicable Isw
<br />requires such interest to be paid, Lender shall not be required m pay Borrower any inerest 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 the Funds was made. The Funds are pledged as additional saurity for the sums secured
<br />by this Mortgage.
<br />I( the amount of the 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 required to pay said taxes,
<br />assessments, insurance premiums and ground ants as they fall due, Such excess shall he, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Burrower on monthly installments of Funds. If the, amount of the. Funds
<br />bald by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they full duel.
<br />Borrower shall pay to Lender any amount necessary m make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upam payment m full of ail sums secured by the Mortgage. 1_tnder shall promptly refund to Burrower any Funda~,
<br />held by Lender. If under paragraph Ili hereof the Property is sold or the Prnpegty is otherwise aegciircd 6y Lender, Lender
<br />shall apply, nn Eater than immediutziy prior m the sale of the Proptlay or its acquisition by Lander, any Funds held by,
<br />Lender at the time of application as a credit against the sums secured, by this Mtngnge.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the
<br />?foie and paragraphs I and 2 hereof shall be applied by Lender first m payment of amoums payable to Lender 6y Borrower
<br />under paragraph _' hereof, then to mteresc payable tin the Note, then to the principal of the Nate, and then to inttrasr and
<br />principal on any Future Advances.
<br />i. Charges; [.isas. Borrower .hall pay all taxes, assssments ;end other charges, floes anJ impositions attnhutahie to
<br />the Property which may attain a priority over thrs Mortgage, and leasehold payments ur ground rents, if any, in the manner
<br />provided under paragraph Z hereof or. d not patd m such manner, by Borrower making payment, when due. Directly to the
<br />payee thcreoP. Borrower shall promptly turmsh to Lender all nohees of amoums Joe under th,s paragraph, and in the avant
<br />Borrower shalt make payment directly+. Burrowtr +hall promptly fumtsh Ic+ 1_ander receipts tvidennng such payments.
<br />Borrower shall promptly discharge any Gen whrch has pnanty over this Marnguge; provided, that Borrower chat) .not be
<br />required to ,scharge ant• such lien so lung ;a Burrower shall agree m arrrung tt, the paymecu of the ohligmion ;eeured by
<br />such ittn in a manner acceptable to Lender. or .halt in good fuuh eunecst such lien hy, or defend cntorcemenl of such lien in,
<br />legal proceedings whrch operate to prevent the tntorcement of the hen or frtrtt;intrc rif the Properp' or any pan thereof.
<br />5. ifezard Iruerenrro. Hvrrosvtr shall keep the ~,mpravemenrs nose' cxistiug 1,r htrtufter crcc[ed an the Pnpeny insored
<br />ugarnst loss by fire, hazards included wuhtn the term "zxtznJeJ .:uvr.rtagc'", aped ,u4ht other hazards a± I_cadtr may regrrtre
<br />anJ m such arnuunts ar.J tar such prnods as Lender may require.; pray rdzal, chat f,rnairr ,hall net requtrz that thz amount of
<br />,:rch ;:;=vtnage excezd that nm:tant of c;:vcrayc reuutrtd u> nay the ;um ;ecurr.d by this 3langage.
<br />71te unsurance earner provid'urg the insurance shall hr chosen by &rrroWtr subfeet u> approval by Lender: prnvtded,
<br />that such approval shall not bz unrzasunubly svi[hheld. All prcmnrms on insmm~ee policies ehall ht paid m the munntr
<br />provtdtd under paragraph 2 hereof or, if not pard in such manner, by Borrower mnkmg payment, whin due, Jrrectly to the
<br />insurance earnzr.
<br />Aii insurance policies anJ renewak Ihtreot shall ne in form nccrptablc u+ LtnJrr ,rod ,hall nrduJe .t ,curdarJ mortgage
<br />dauu m favor of and m form acceptable m !_errater. Lender sh:dl have the right w hoW the policies .rod rcn^wal> thereat.
<br />and Borrower shall promptly furnish to Lender all ronew:d nouczs anJ all reeetpu of paid prcm:um,. In the caent ni los.
<br />Bortnwer shall gtvr prompt nonce to the utsurauce aerate and Lender. Linder roar make proof at loss a oat made promptly
<br />try Bor(C)Wer.
<br />Unlcsa Lander and Borrewzr alhenv:nt agrtr in wrrtmg, msurunce prcueeJs ;hull ice appfitJ to re,numton or repair at
<br />the Property damaged, provided web rcsmraunn ar repau s ccononucall}' fexnrl*Ic and the >zcunrv of the hkxtgagc ,+
<br />net thereby impatreal. it such restaraunn or repau s not ecanouucatly IeusrMr or n the saeurnv of :hr, ~k,rtgagr would
<br />tee ,roper red, the maurance pnxzeds shall bt applied to the vents ;eeureJ by thu Mar gaga. unh ihr rxcc,n. d any. pa,J
<br />m Borrower. it the t'n ^erty rs abauJoneJ M' Barraucr, o: d Burrowtr tad, t,. respnral to I cnda•r wuhm 3u Jac, !roar rtte
<br />date nonce n marled by Lender to Borrower tlwt Ihr msurancc earner olhas lu srnir a alarm h,r ,murana• lxncnt>, t rnJr~
<br />is auth:v,raat ru :olita and apply the rtrsurancr prax:eedn .u LcnJtrA apuon caber to rasnrt;uunt ;rr rtpuu of the ProlKm
<br />ur to the sums •,eFuttai h1 this Murtgagz,
<br />Units t.tnJcr :rod Bura,Wec athtrwrat age zr ~n wrung, env arch appliautum of proceeds to pnnc,pnl ,nail out rVCnd
<br />or I>ostptme thz dot date of the monthly insrnllnRms raltr red h+ ur paragraphs V anJ boreal or +hangc the amount ,rt
<br />such utstalhnents. It under paragraph IN hereof ~fiz Prapnrty i> ,reywred by I,rndcr, all right, utlr and ~nirrest .,t tlorrauc,
<br />in and U, any insurancz policies and m and ro the prncetais ihereot resuhmg to+m dunuagz to Iht I'rnptris poor io .hr >,do
<br />tsr .tcywanum anal) fwsa to Lcrnlrr w the txtem a! the ,won ecnutJ nv the Mortgage ~mn!tdiatrly anur r.. etch ,ale ,,,
<br />acyuisrtion.
<br />6. Ptssen;Htsa and staiattnanes r>f Propsrtyt i.ssastadds; t'uaduraiefuma; Piaurrsd t'utt Ua•+tlupmanh, ti,.<,,,..ri
<br />shall krnp the Proptny in goaaf repau• and shall um contmn wnsw ,+r ptnmt nnpmanent or dettnamuan at the Propene
<br />and shall knmpl[ with the provlvstns of any lease d they Mortgage :s art a (zastholJ. !t Ihn Mongagc a an ,:.tau .n .,
<br />eundanimwn ar a plarvred unu Jrvrlspmrnt. Borrower ,hull perk+rru all of Burrowtr-, ahbgauuns unJtr due a(ecl:mwou
<br />ur covenants crtaung ur guvenung the candonuruum or planneJ urn Jevtlopnttut, iht by-law, end rrgni;nronc of the
<br />eamdominrum or piantted u[ut Jevelapmcn6 earl ramslituent d<a'ufnrurs. tt a ~ondommmm or pl,mneJ nnrt Jevch,pmrnt
<br />rider s execute) by Borrower and rcenrdrd Ingethet u,th den Morig:tge•, the ~ -venauts anJ agrecroentn „1 x,eh nder
<br />shall hz ineorporutzJ into ,tad shalt amend anJ ,upplemrnt the arvcnants .utJ ,rgreemcuts of :h:> Mortgage .rs a the nJrr
<br />wart a part hereof.
<br />7. Protection at lxadePs Stetuity. if Borrower fads w perform the covenants an,1 agreenrrnts anttamrd in phis
<br />Mortgage, ac if aaY aorta>n or pnKCtding a cnmtntncud whrch materially atircln l.emlcr's interest in the P•aprrn,
<br />including, but oat limited ro. eminent domain, insnlvmtcy. code entarcotnent. or arrangements or proceedings urvolrnig a
<br />bankrupt or Decedent, then Lender at Lender i opnmr, upon nmtct ro Burrower, may make ;uch appearnncrs, rhnhursc >uch
<br />sums and take such action as is nteassar}• to prnrect LLcnder's mteresr. ~rnluding, ho! nm IimutJ !o, Jishurscmcnt :,.
<br />ieawnuble uitomel'> lets and entry upon the Property u> make. repaus. If Lender required nmrtgxge insurance a.
<br />condition of making the loon secured by this Mongagt. Bam>wer shall pay the premiums reyuved to maintain wch
<br />insurance in etfeci anal .wch time as the reyuimment for such msurancc :trmmatr.n acrordaner wuh Bo: txiwrr'c enJ
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