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80-- 1)05135
<br />LHIFOaM Covt:rr~xrs. Borrower and Linder covenant and agree as follows:
<br />;<, pajmgK of Prmef~d sled ItdeapL Borrower shall prompth• pay when dne [hi principal of and interest on [he
<br />ir>~btedttess evidenced by [he Note, prepayment and late charges as provided in the Note, and the principal of end interest
<br />on soy Ftrture Advances secured by this Mortgage.
<br />2, jtrja Lot Tam alai laseaace• Subect to applicable law or to a written waiver by Lender, Borrower shall pay
<br />t0 Linde[ on the day monthly ittstatltnents of prhicipal atzd~interest are payable under the Note, until the tvo[e is paid in full,
<br />a auto (herein "Futtds'ry equal to one-twelfth of the yearly taxes 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 ooe•twelfth of ytuly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to tithe by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />7be Funds shat! be held in an institution the deposits or accounts of which are insttrid or guaranteed by a Federal or
<br />state agency (inchxting Lender if Lender is such an irisritution). Lender shall apply the Funds to pay said taxes, assessments,
<br />imuranoe 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 Lendtr to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that interest on [he Funds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requites such interest to lie paid, Lender shall not be required to pay Borrower any interest nr 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. 7'he Funds are pledged as additional security for the sums secured
<br />by this Mortgage.
<br />Tf the amount of the Funds held 6y 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 />atseaaments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />protopUy repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount o€ the Funds
<br />hdd by Lender shall not be sztdctent to 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 deficiency within 30 days from the date notice is mailed
<br />by Lender m Borrower requesting payment thereof.
<br />Upon paytttent in full of all sums secured 6y this Mottgage. Lender shall promptly refund to Borrower any Funds
<br />held by header. If under paragraph 18 hereof the Propert}• is sold or the Property is otherwise acywred by Lender. Lender
<br />shall apply, no !stet than immediately prior to the sale of the Property or its acquisition by Linder, any Funds held by
<br />Lender at the time of application as a credit against the sums secured by this Mottgage.
<br />3. A})tYeatisa d paTmeab. Unless applicable law provides otherwise. all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lender firs[ m payment of amounts payable to Lender by Borrower
<br />unrkr paragraph 2 hereof, thin to interest payable on the Nate. then [o the principal of the Note, and then to interest and
<br />prfncipai on any Future Advances.
<br />4. L'hatgta; bins. Borrower shat! pay alt taxis, assessments and other charges, tines and impositions attnbu[able to
<br />the Pr'Opetty which may attest a priority over this tfottgage, and leasehold payments or ground rents, if any, in the manner
<br />provided tinder paragraph 2 htnzwf or, if ram paid in such manner, by Borrower making payment. when due, directly to the
<br />payee thertxf. Borrower shall promptly furnish m Lender a:l notices of amounts due under this paragraph, and in the event
<br />Borrower shag make payment directly. Borrower shall promptty furnish to Lendzr receipts evidencing such payments.
<br />Borrower shaft promptly discharge any rein which has praonty over this Mortgage; provided, chat Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall agree in wrung to the payment of the abfigation secured by
<br />such teen in a manner acetptabk to Linder, or shall in good faith contest such lien by, or defend znforcement of such hen in,
<br />Icgal ptocetdings whicb operate to prevent the enforcement of the hen or torfinurc of the Property or any pan thereof.
<br />S. limb Iwraar:. Borrower shall keep the improvements now exalting or hereafter erected on the Property insured
<br />against ton by t9re, hazards included within the term "extended cove; a„a". and such other hazards as Lender may reyuire
<br />and is such amounts anti for such periods as Lender may require: provided, that !.ender shall not tegwre that tfie amount of
<br />such rnverage exceed that arum of caveragz requued to pay the sums ucured by [his Mortgage.
<br />'Ibe insurnoe"_ carrier providing the insurance shall be choxn by Borrower subjir. to approval by Lender: provided.
<br />that attch approval shall not be unreasartably withheld. AL premiums ort insmance poiicsis shall be paid in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, wren due, directly to the
<br />imurarsoe tartly.
<br />Ali tmunMS pdicies and rmewale thcreo[ shall tee in form acceptable to Lender and shalt include a standard mortgage
<br />Ciatpe ur favor of grid in form acetptabk to l endu. Lender shall have the right ro hold the policies and renewals thereof.
<br />and Hotr+nzver shalt promptty furnish to Lander all rtttiwai nahCis and aEl ,-e<aipts of paid premiums I^. rht event of loss,
<br />Bortowet shall give prompt notice to the insurance tamer and Linder. Linder may make proof of loss it hoe inadr promptly
<br />try Borrower.
<br />Unless Linder and Boaawer otherwise agrez in writing, insurance proceeds shall be applied to restoration ar repair of
<br />the Ptopsrty damaged, provided such ratoration cr repair is economically feasible and the security of this Mortgage ~+
<br />arx thueby impaired. if such restoration or rcpazr s not icottortiieally fzasibli or if the security of this Mortgage would
<br />be itopeited, the itntttamoe pr ' shall be applied to ttti sums secured by this Mortgage, wrth the exczss, if an;. paid
<br />to Borrower. U the Property n abandoned by Borrower, or if Borrowu fails to respond [o Lender within 30 days from thz
<br />date notice is mailed by Lender to Borrower that the itsuraaci tamer offers to stale a claim for :nsurartce benefits, 1_ender
<br />is atNhorized to collate and apply the insurance proceeds at Lender's option either to reswratian or repair of the Propeny
<br />or to the sFUOa secured by this Mortpge.
<br />Uniaa hendee and Botrpwe.* otherwise agrce m writzav, any such sppiica[ion of proc>eds to principal shall rot exte::d
<br />or paatpooe the due date of the monthly installments refitted to in paragraphs t and Z herwt or chatigz the amount of
<br />such imtalltaetFUt. i€ ttixier psis;tapir Ig hereof the Properly is acgmred by t_endes, ail nght, uele and interest 7f SoRewet
<br />in sod Fo spy itmtratzcc policies acrd in and to itze prtxeeds thertol resulting from d:zmage to the Prapirry pnar to the sale
<br />or aixluisitioo shalt ~ to Lender to the extent of thz stutu secured try zhts Mongagz inzizeciFtateiy shat to such sale or
<br />~,~~ >•d of >y; Leaaelalda: Cosdaauaaaws: Pleued Lath pertdoyarzais. Ekrrawcr
<br />zihaN ka'P the praparty m ,gold repair and shalt not eotrtittit waste or permit ;mpairmint or detet>atauon of chi Property
<br />aatd sisal! ca?mpty with the provisions of shy lease if this Martgagz is an a leasehold.. if this !for tgage ss on a unn ui a
<br />coodnmiaium or a planned unit deveWprneai, Borrowzr shall perform ail of Borrowers otzligawuris tinder the deciaratiun
<br />ar i.B+rerlabia orgipng ~ governing the ;t~sdt>snenium ar ptanttist unit develapmint, tfii by-laws artd reguiauans nl [he
<br />aaaldoeaituum or planwd unit deveiapmetzt, and cettstitizint dixuments. !f a condominium or planned umt dcvelopnzint
<br />rider is eaecutal by Borrower and reca[ded [ogettxr weth this tvtangage. [he cavinaou and agrcements of inch rider
<br />shall 6a itscorporatai into and s1usU aenead and supp{etneni chi covenants and agreements c±t thzs Mortgage as ~t the rider
<br />wars a part hereof.
<br />'-. 1'sgaeYsi sit [.nisiess baeaaYY. !f Bottcower fails to pzrFornz the covenants and agreemznts contained :n this
<br />~- or if say lotion. or proceeditsg rs eotnmenced vvhich nzatctialiy affects 1.etzdir's interest in [he P*opzrt}.
<br />BYGlrtdlrtg. lMtt not limited to, eminax daazta.in, insoivincy, code enforcimim. or arrangements ar prcxzidings involving a
<br />bankrupt of dsrodaot. thin Leader aF L.eo[kr`s option, upon notice zo Harrower, ma} rnake such appearattc:es. d+st+ursc lusts
<br />slams rind Fake such atxicn au is tteeessan to protcx:t Lender's mti:rast, including, but nut limuid to, disbursrment .+t
<br />reaatttubk idtotaay's fees and entry upon zhe Properzy to make rzlzain. It Lender reyuzrid mortgage insur:uzce as
<br />condpilM oI trsalattg the loan seev*ed by this Mortgage, flon:swer shall pay the premiwns regtnrid ea+ maituaiiz wrh
<br />itstatatiaoa k elTact tinter such time as chi requiremem far such msuxatzi:z zenzunatis :n a~cordatzcc with Born=+er's anal
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