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80-_ u05o29
<br />Utveoau t~verewrs. Borrower and Lender covenant and agrce as follows:
<br />1. ]h!•eat of rrlae4al sad lstfanst. $orrower shall promptly pay when due the principal of and iatereu on the
<br />iadebtedorsa evidenced by the Nate, prepayment and late charges as provided in the Note, and the principal of and intatest
<br />on say Future Advances aecttred by this Mortgage.
<br />Z ]lroia tar Taut atti laaaeaate. Subject to applicable law or to a written wais*tr by Lettder, Borrower shall pay
<br />to Leadu on xhaday txwothly installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a sine (herein "Fonda"p equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgayt, and ground yenta on the Property, if any, plus one-twelfth of yearly premium installments far hazard insurancx,
<br />phn oao-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably est#mated initially and- from
<br />tints to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />Time-Funds shall be heW in an inuitution the deposits or accounts of which are insured or guaranteed 6y a Federal or
<br />stets-agency (inc[rding Lemdu if Lender is such an institution). Leader shall apply the Funds to pay said taxes, assessments,
<br />insurance p[temi»tns and ground rents. Lendee may not charge for so holding and applying the Funds, analyzing said account;
<br />or verifying sad 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 executfan of this
<br />Mortgage that intetsst on the Frmds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requires attch intereu t~ be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shttlt give to Borrowu, without charge, an annual accounting of rho Funds showing credits. and debits to the Funds and the
<br />purpose for which each debit to the Funds was made. The Furtds are pledged as additional securiry for the sums secured
<br />by this Mettgage.
<br />If the amount of the Futtdc held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessmwts, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assaaameats, imurattcc premiums and gmuod rents as they fall due, such excess shall be, at 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 bq Leader shag ~t be su6-cieat to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrowu shall pay to Lendu any amount rtecessary to make up the deficiency within 3H days @am the dale notice is masted
<br />by Leader to Borrower requesting paymem thereof.
<br />Upon paymem >A full of all stints secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
<br />held by Lrnder. If uttdu paragraph 1f{ hereof the Property rs sold or the Propem~ is otherwise acgmred by Lender, Lender
<br />shall apply, no later than iatmediately prior to the sale of the Property ar its acquisition by Lender, any Funds held by
<br />ieuder ai the titxu of applicatitm as a credit ag:;nu the scams uevred by than Mortgage.
<br />3. A/~Yealita d Ihyeeasa Unless applicable law provides othet'vvise, all payments received by Lender under fhc
<br />Note and paragraphs t sad 2 hereof shall Me applied by Lender Erse m payment of amaunu payable to Lender by Borrower
<br />under partgraph 2 hereof, then to interest payable on the Nare, then to the principal of the Note, and then to interest and
<br />principal on any Future Advansxs.
<br />4. Citages: Cleary. Borcower shall pay aB taxes. assessments and ether charges, fines and impositions attribr[table to
<br />the Property which testy attain a priority aver this Mortgage, and leasehold payments or ground rents, if any, in the manner
<br />provided imdet paragraph 2 hereof or. if not patd m such manner. by Bormwe, •r,3king payment, when due, diresaly to the
<br />payee thereof. Borcower shalt promptly furnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Bocrowu shall make payment directly. Borrower shall promptly furnish to Lender reuipts evidencing such paymenu.
<br />BOrrowu shall prompQy ds~-harge say lien which has priority over this Mortgage: provided, that Borrower shall not be
<br />required to discharge say such lien so {ong as Borcowec shalt egret in venting to the payment of the obligation secured by
<br />strc6liea in a manner acceptable to Lenadu, or shall in goof faith contest such Lien by, or defend enforcement of such lien in,
<br />kgal ptoraedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />i 1Hasi laattasee. Hotrowu shall keep the improvements now existing ar btreafter erected ao the Propeny insured
<br />against loss Fry fire, hazards included within the term "extended coverage". and such other hazards as 1_ender may reymre
<br />sad in such amounts attd for such periods as Lertoer may regmre; provided, that Lender shaft not require that the amount of
<br />such coverage exceed that amount of coverage regwred to pay the sums secured by this Mortgage-
<br />The iaturaoce carrier providing the iasttranct shall be chosen bq Borrower subject to approve' by Lender; provided,
<br />chat such approvd shalt not ire unreasotta6ty withheld. All premiums on insurance potictes shall he paid in the manner
<br />provided under paograp6 2 hereof ur. rf rtot paid in such mwiter, by Borrower malwrg payment, when due. ~rrecdy to the
<br />ittatuaace carrier.
<br />All ittauraace policies and retrewak thereof shall be in form acttptable tv Lender and shall :nt:iudt a srandarf coo: [gage
<br />Glarus is favor of sad in farm acceptable to I..ender, Lender shall have the right to hued the puhcies and renewals thereof.
<br />sad Harrower sha8 prpaptly furnish to Leader all renewal notices and all receipts of paid premiums. In the event of lass.
<br />Brxzawrt shall give prompt notice to the insurance carnet and Lentkr_ Lender may make proof of loss of naY made promptly
<br />by Btttrowcr.
<br />Ualpa Leader stud Borrowu atMnvrse agree in writing, insuraacc proceeds shaft be applied to restoration or repair of
<br />thiC Ptnpetty damaged, provided such mtaratton or repair is ecanomicai{y feasible scot zhe security of th[s Mortgage +s
<br />sot thereby unpaired, If such restoration or repair is nut economically ftasable or rf the secunty of ih:s Fvfo»gage would
<br />be ittaQaired, the insupaw prooixds shall !x applied to the sums secured by_ this Mortgage. w'uh the excess, if any, paid
<br />to Horrower. if the Property is abaaaiatted by Bortawcr, ar if Borrower fails to respond to Lender within 3U days from the
<br />date apfice ie mailed by Leader to Borrower that the imurance carrier offers to sextle a claim for tnsurance lxntfits, Lender
<br />fs attttborixed m collect acrd apply the rnsuratt.:e pttrxeds at Ltnder~s spline eit)xt to restaratron er repair of the Properiy
<br />vt to the sums sccurad Lt)r this Atartg~.
<br />Udeaa Leader sad Bottawer athervaist agree rn writing. say soh application of peax:eeds to pnttcrpal shelf not extevd
<br />or patlpatta the dire dart ci the mantlaly iastaltmrnu teferrrd to an paragraphs t and ~ hereot' or change the amount of
<br />itachies+tilrtteaaa. If urtder paragraph ltl htreof the Pnrpetty is acqurrtd by Lender, all nght, title and interest oY Borrower
<br />is sad to any iawrance policies andtu sad to the practtds thereof resvhing from damage to the Property pr+ur to the sale
<br />or etxptiaitiaa shall peas to Leadu to the cxtsnt of the sums secured by this Mortgage unnttdrately prtur t.+ such sale or
<br />acgwfUoa.
<br />f, hatervitlita tali '+ltiataraasx ai Pae}crty; t.niaie-olia C-0adeiaitiaaos; ptratrd Unit lkveloprotwla. Borrower
<br />ri`all katp the Property is good repair and shall ;t+ar txzmmit waste ac permu imparrmtnt or dtteriarauou of the Property
<br />sad shall t~MY with the provisicas of any Rase rf [has Mortgage +s an a leasehold. If this !vtottgage is .rn a imrt in a
<br />wadw,gsiaitret ar a planned upit dtvelapnlettt, $orrower shall perform all of Borrower's nblrgativns under the declarauan
<br />arr;rwapaaa trNtiOg or governing the cartdaminrum or plannexi unit development, the by-laws and regulations of the
<br />Cgadomipitiat-tar plaaaod trt[tH deyelopment, sad eottS:.ittKn[ documents. ff n conriantinium ar planned amt develuputent
<br />ridK is exatuud by eorrotaier and r,wordod rogtthu with this Mortgage, the covtaanu artd agreeintnu of such r~dtr
<br />stttil bi iatpurpoxatad into stud shall amend and supplearent the cavanants and agrsetttenu of this Mortgage us rf the nder
<br />uYes't a part laarytaf.
<br />7: 1'suacM at Iadar'a SteaaMy. If 8orrvwtr tarts to per(urm the covenxnu and agrecmtnu cuntauaed m th+s
<br />•jiptgaga, or if say action err pracsediug is cvmrvcrteed whicfr materially affects Lerukr's mtertst in the P*of><rry.
<br />3sut not limited. to, emjnent dntuain, iarcolvertcy, cask enfvrcemtvt, or arrangements or pructedings ,nvulv}ng a
<br />btatrtrpt or dot, turn; Lcadet at Leader's aptton, span notice to Borrower, may make such appe$ran; ts, +l=sburx su,:h
<br />astFOll bad take s1e6h scrips as x rtecwaary tsr prutaxt l.rnckrs mttrest, including, but not limited to, d,sf+ursrment ,+t
<br />reaauaalis atturaty'a fem utd entry upon the Praptny to make repairs. li Lender aequirexY rn.,ngagt in.ura+t.¢ :,s a
<br />cuaditaa of uialtisg tfst rosin tiar;tued by tfus Mortgage, &rrrnwtr skrail pay the premiums rtyurrtd :o mainta;u viich
<br />iawtcataet itt t uriatl +iuc6 time as the requirement for such tr,~avtance t«~rminatas rn acc.~rtlance with Bvrr.:we, . and
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