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HO- E~ K•~
<br />11 f; 'Z i1 IJ V
<br />UNIFORM COVFtJAtiT$. BOrrUweC and Lender COVenan[ and agree as fOIIOWS:
<br />i. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedness evidenced by the Note, prepayment and Irate charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. Funds for Taws and Insurance. Subject to applicable law or [o a 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 fulh
<br />a sum (herein "Funds") equal to one-twelfth of the yearly rases 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 for hazard insurance.
<br />plus oneawelfth of yearly premium instalments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to time by Lender on the basis of assessments rind bills and reasonable estimates :hereof. -
<br />The Funds shall be held in an institution ;he deposits or accounts of which arc insured or guarantied by a Federal or
<br />state agency (including Lender if Lender is such an instiwuon ). 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 Punds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless Lender pa)•s Borrower ,merest nn [he Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender ma}• agree in writing at the t^,me of execution of this
<br />Mortgage [ha[ interest on the Funds shall hi paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest [o he paid, Lender shall not be reyuired m pay Borrower any interest or earnings on [hi Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Punds 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 security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender, togethzr with the fuuire 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 rases,
<br />assessments, insurance premiums and ground rents :a they fall due. such excess shall be, :u Borrower's option, zither
<br />promptly repaid to Borrower or credeted to Burrower on monthly msta(Iments of Funds. If the amwnt of the Funds
<br />held by Linder shall not be sufficient [o pay rases, assessments, jnsurmce premiums and ground rents as they fall dui,
<br />Borrower shall pay to Lender any amount necessary' to make up th''u deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof, I
<br />Upon payment in full of all cams secured by this Mortgagel, Lander shall promptly refund to Borrower any Funds
<br />held by Lender If under paragraph IS hereof the Property is ,old ~lor the Property is otherwise acquired by Lender. Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its acquisition b)' Lender. any Funds held by
<br />Lender a[ [he time of application as a credit against the sums scct~unl by this Mnngage.
<br />3. Application of Payments. Unless applicable law pnn-iJe~ otherwise. all payments n:czivid by Lender under the
<br />Note and paragraphs I and 2 hereof shall he applied by LenJer first m payment of amounts payable to Lender by Borrower
<br />under paragraph '_ hereof, then to interest payable on Ihe Note, then to the principal of the Note, anJ then to interest and
<br />principal on any Furore Advances.
<br />4. Charges: Liens. Harrower sh:dl pay all rase.. assessments ^nJ olhcr charges, fine, and impositinrn: attributable to
<br />the Property -~hich may stain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph Z hereof or. if not paid in such nsmncr. he Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shall promptly iurnah to Linder all nouccs of :unounts due under [his paragraph, ;rod in the event
<br />Borrower shall snake payment directly, Borrower ,hall pnnnptly furnish to LenJer rtczipts zaidencing such payments.
<br />Borrower shall promptl}• discharge any lien which has priority nwr ihn Mortgage: provided. Ihat Borrower ehall not he
<br />required to discharge any such Tien so long as 13orrowor shall agree in wrung to the pay room of the obligatiuu secured by
<br />such lien in a manner acceptable to Lender, or shall in good truth contest such lien 6y, or JifenJ enforcement of such lien in,
<br />legal proceedings which operate to prover.!-Ihe enforcement of Ihe hen err forfauui of the Property nr any part thereof.
<br />5. Hazard Insurance. Horrower shall keep the impruceminn now c~icung or hereafter ercitnd on the Property insured
<br />against loss by fire, hazards included within Ihe term "evende.l a,vrr gr~~, and such other hazards as Lender may require
<br />and m such amounts and for such periods as Lender may requua, In u•ndrd, ttru Lmnlel -.hall oat rcgwrc that the onnnm: at
<br />such coviragz exceed «iar ammmt of coyer:tge required n, pay the ,ant, ,c:nred by Ibis \tarteagc.
<br />The insurance carrier providing the insurance sh:dl bz ehn,cn he Bortoss i; suhjiet n+ appnn;4 try Lard^:; prrn~ided.
<br />that such approval shal! not !:e unrcasoruhly withhclJ. All prmnautn ~+:; krsarana polices shat! ha n:dd r,: ;he rnannir
<br />provided under paragraph 2 hereof ue if not paid in ,uch manucr, by Borrower making payment. whin due. Jveetly to the
<br />insurance carrier. - - - -
<br />AII insurance policies anJ renisvals ihinnt shall be in form arecpt.ihlo to Lender .rod ,hall include a ,mndani nu,ngage
<br />clause m favor of and in form acceptable to Linder Lynder ,hall hale die right to hold the puli:ics .rod moat ak thiret-r
<br />and Borrower shall grumpily furnish to Lender all renewal nouccs anJ all receipts ul p;uti prenuunn In the ,sent nl Fay,.
<br />Borrower ,hal give prompt uonie w the itnw:utcr c:vncr oriel Linder. Lender m;q make pn+ol of loss d not maJc promptly
<br />by Borrower.
<br />Unless Lender and Borrower othc•nvuc agree in tinting, in,urmce proiceJc sh:dl he applied Io restoration or repair of
<br />the Proper!)' damaged, proviJed such restoranon ur repair is iconomic:Jly teasiblc :utd the ,ecurity of thn Mortgage ~,
<br />^ot thereby impaired. Sf wch reaor4ion or rep:ur ws not acononurdlly lausible err it the security of Ihn Morgage could
<br />M: impmmtl, the insurance pnuceds ,hall bi dpphcJ to the ,ants mcurod by dos Mortgage. uch the euc,s, n' any, paid
<br />to Barrou'er. If the Pro~r[t is ah:uidoned h: 8arn+wir. or it Burrower f1J1, !++ rgpnnd rn Linder within tU due., from the
<br />date notice is moiled 6y Lender to Burrower thal Ihe msurmee caner idler, to sinir a dawn for msurmce benefits. Lo-ndir
<br />is authorczid tc collect xnd ripply the msumnce proceeds m LenJer', option inhcr w rctil,+rninn or repay of Iiu 1'n+pcrq
<br />or to the sums scn«eJ h}' this ',lortgagc.
<br />Unless Linder and Borrower otheru ix• agree m unlmG..m} ,udt .+pplic,u iou of pmcceJ, to pone q,al ,hall n+~l ~~, lend
<br />ur postpone the doe date of the mouthy ms:;dimeot, referred to m parnga:ph~ anJ_ hcn-ot •~r :h:u ~+;i Ibc .tut„ant, rit
<br />such installments. I( under paragraph .8 hereof the Irropent n acywn•J bt Lindct..Jl light. ;ale and mterest al Burt„war
<br />in oriel m any nuurance policies dud tit and in the pn,ceiJs theraM rexd:uig twin aunwge w rte 1'ttq^r~rl, pr:,±r to Iha silo
<br />or acyuisi[ion shall pass to Linder to the r-vent of the ,um, ,icuml h, thn Meupage inuneJ i;ueis poor .o ,rah ,•Ji .n
<br />acyu{siuon.
<br />6. Yreserratlon and Maiulcnance of Property: Lv:cx•hulds: l'undominiwns: Planned Grit Derelnputznts. Horrnu er
<br />sh:d! kicp Otc Property in good repair oriel ,hall riot iommil ,+nate err pcnnil unpairmzw of daenoruw~u ~~: ihr Prnpc rlt
<br />and shall Comply with the pfpvisiens Cd any tease !1 thy, 41 o!tgage ;+ n Ir::aih+~!ci !f lhi: 4(sn g:igc r .. ,run n. ,.
<br />condominium err n plumed amt .lavdnpmcm. Borrc,w ii ,hall i•_rl arm all .a lioi n,w rr, „bhg:uu~us anJa the dccl.+rw~v:
<br />or covennnts acaung or govrnung Ihe amdunnnmrn or pGumcd ^nit de,-rlnpmcnl, ihy hv,l:nt ~, .+ud i~,o leU~•u. ,.I =hc
<br />condominium or planned unit developmern, -:rid -vnxnucm Jacunsnn. It ., coudouuuium or I+lanueJ .gun ,le, a;opmrm
<br />rider is zxtt`uted by Borrnwir and mcorded a,gciher +, rah ihi, Mortgage, the corenanic enJ .:gt remenn of ,uch iiJir
<br />shall be incorporated into and shall amend :uN ,upplemeut the u+,cu:uu:.w+l .igrecnreuls rrt Ihe, ~L~ngagr .n it ila• iidci
<br />were a p:vt hereof.
<br />7. Protection of Lender's Secnrily. II I3ornnrer huk In prrloun the covcn:mn and ugre•cnw•ni, umt:uncd m Ihl,
<br />Mortgage, ur if un)• aMwn of proceeding is ai.,mmenecd which materially :dtects LenJer', in¢•re•,t in the Proper',}.
<br />including, but nut lirmted to, ammant domain. unoh crier. rude rnlurccmcnt, of au:mgintcnt.c of proceedings mcnP wig u
<br />bankrupt or decedent, thin Lender at !.ender', option. upon nuu.e to tiorrnw ci, inert inakr ,uch appiunmtts, di,i,urx• ,rich
<br />sums and take such ac«oa :u is nice>utn~ to pi nice! Lender, interest. iueludinp, hen not hnumd n,. disbm erniem of
<br />reason:dile attomcys Ices oriel entry upon Ihe Property to nwAc repair<. It Lcndci rey uirc~.l uu+ngage inuuuncc ,
<br />con+6tion of m;d:mg the loan s+eeureJ by this Mortgage, Borrower sh:dl pa} the premiunn ieyuirc•d to maim:nu .idi
<br />insurance in eQict until .wch trine :u the requirement 1'or wch uuucmce terruinutcs m :ia'ord:trice unh Borroucr, rind
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