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$0-- 001230
<br />Uxtr~oatK CovErrexrs. Borrower and Lender covenant and agree as follows:
<br />I. Payment of Prindpal and Interest. Borrower shall promptly pay when due [he principal of and interest on the
<br />indebtedness evidenced by The Note, prepayment and late charges as provided in the Note. and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2..Faads for Tares arid Insunace. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on The day monthly installments of principal znd interest are payable under the Note. until the Note is paid in full,
<br />a sum t7iezein "flmds") equal to one-twelfth of the yearly taxes and assessmems which ma}• attain priority over this
<br />Mortgage, and ground renu on the Property, if any. plus one-twelfth of yearly premium instailmenu for hazard insurance,
<br />plus one-twelfth of yearly premium installmenu for mortgage insurance. if any. all as reasonably estimated initially and from
<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 institutfon the deposits or aceounu of which are insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an institution). Lender shalt apply the Funds to pay said taxes. assessmenzs,
<br />ipstrrance premiums and ground rents. Lender roes}- not charge fox so holding and applying the Funds, anal}zing said account,
<br />or verifying and compiling said assismenu and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Leader to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that interat on the Funds shall 'be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such iateres: to be paid, Lender shall no[ be required to pay Borrower any imemt or earnings on the Funds. Lender
<br />shad give to Borrower, witboux charges an annual accounting of the Funds showing credits and debiu 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 [he amount of the Funds held by Lender, together with the fuwre monthly installments of Funds payable prior to
<br />the due data of taxes, assessmenzs, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />atsemneats, insurance premiums and ground renu es they fall due. such excel: shall bt, at Borrower's opton, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall not lee sufficient to pay rues. assismenu. insurance premiums and ground renu as they fall due,
<br />Botrttwer shall pay to Lender any amount iiecessan~ to make up the deficiency within 30 days from the dau notice is mailed
<br />by Lender to Borrower requiting payment thereof.
<br />Upon payment in full of all sums secured by this bfongage, Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 28 hereof the Proper[} is sold o: the Propeny a otherwise acgwred by Lender, Lender
<br />shall apply, no leer than immediately prior to the sale of tht Property or ns acquisition by ixnder, any Funds keld b}°
<br />Lender u the bate of application ac a credit against the sums secured by this Mortgage.
<br />3. A~4eatioa of Payweatc. Unless applicable law provides otherwise. all pavmenu received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounu payable to Lender by Borrower
<br />trader paragraph Z hereof, then to irterest paysbk on The Note_ then to the principal of the Nou, and thto to interest and
<br />principal on any Ftmue Advances.
<br />4. ~ Iieae. Borrower shall pay all taxes. assessmenu and other chazges. fines and impositions attributable to
<br />tht Property which may arum a pnotiry over this Mottgagt_ and leasehold payments or ground renu, if any, in the manor
<br />provided [miler paragraph 2 hereof or. if not paid m such manner. by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shall promptly furuul: to Lender a13 notices of amounzs due under this paragraph. and ip the event
<br />Borrower shall make payment directly. BorzawEr shall promptly furnish to Ltade: receipu evidencing suck pa}•menu.
<br />Borrower shall prompdy disehuge any lien which has pnonh° over this Mort{tagt: provided. tkat Borrower shall not be
<br />ragtsuad w direhar~e any such lien se long as Borrowtr shall agree in writing to the paymcn2 of the obhgarion secured by
<br />such Ilea in s taanner acaptahk to Leader, or shall m good faith contest such lien by, or defend enforcement of such Tien ice,
<br />kcal praotedinjs which operate to prevent the enforcement of the lien or forfeiture of tht Propem' or any pan thereof.
<br />S. Haanid Iaaaaaaee. Borrower shall keep the tmprovcmrnu now existing or hereafter erected on tht Property tpsured
<br />against lac by Elec. hazards included within the term "extended coverage". and such other hazards as Lendtr may require
<br />and in sttclt smainu and for such periods as Leader mac regwre: provtdcd, that Linder shall not rtquirc that the amount of
<br />such coverage exceed the, amour.[ of coverage regmred to pay the sums second ht th[s Aortgage.
<br />The iaaunace carrier providing the insurance shad be cheser. b} Borrower sub[ect to approval by Lender. provided.
<br />that twch approval shall not bt uarcuonably withheld. ASi ptcmtums as fnsurarcc poi[cra shall he paid m the manner
<br />provided ttoder puagraph 2 hereof ar, if nest paid is such m•^TM*. h} Borrowu making payment when due, directl}• to the
<br />iawraaa Cartier-
<br />All iewranee pores sad renewals thereof shall be to form axeptabk to Lender and skai3 include a standard mongagc
<br />t9aute in favor of pad in form acceptable to Leader. Leader skill have tht right [o hold the policies and renewals thereof.
<br />pad'ataaer shall promptly fitrnich m Lender all nttewaf notices and all rtee[pzs of paid ptemiurns. in the event of loss.
<br />Bortow~er shall give prompt iw[ice to [he iaurapcc casttu and Lender. Len~iet may make proof of loss if nest made promptly
<br />by Horrotrer.
<br />Udaee Leader sad Borrwer otttetwtce agree m wrretng, instuaticx pmeeocis shall be applied to restoration or repair of
<br />the Property damaged, provided such restotarion o: rtpa.,r is Gonom,csll} feasible and the security of this Mongage is
<br />titx thereby impaired Zf such restoration or mpsr: is not tc:'atocsucaii} feas[ble or if tix security of this Mortgage would
<br />be iaspaired, the ittwreace prnnads shall lx applied to the xttms su:urrd b.' tins Mortgage, with the excess, if any, paid
<br />to iorrower. If the Properly is abatsdoaed b} Borrower-- er ,t Borrower ia[ls to respond to Lender wiYlun 30 days from the
<br />date aeuae is mailed by Laarder to Borrower ts'iat the insurance tamer otla•x to seitic a ;.Intro for insurance beaefiu, Lender
<br />is #ttfitxi7sd M Calker pad apply the iasuraact puooeads at Ltaoer's opuois ciihu to rasoration or repair of tht Property
<br />a tp the s-t, oss aacund by this Marejare.
<br />Ualast Leader pad Borrower otherwise asret m wrtttag ens c[ic-li application of proceeds [o principal shad not extepd
<br />~ porpttae-the due date of the morithl} instslliraeriu refasied to in paragraphs and ~ hereof or change the uaount of
<br />ntni fpoalleaeats. ]f under paragraph I& hereof the Property :s acqu[rai by Leader, all right, title pad interest of Borrower
<br />in and w nay iaauraoce palicitc nerd in sad to tht pMO.eeds thereof rtsultmg from da[nage to the Prapen}' prior to the sale
<br />err aogtoaicon shall pas to Leader ie the extent of the soars seazred b} this Mortgage imraedfately prior to suck lest or
<br />?sasan'aeiai era/. 13aiwwce of r+MenY: Leace-elti5 Coadaiiaistarc: Plraaed Unit Developments. Borrower
<br />shill ItMp tio- Pro},atty io goad tapair and shall ant cammft wsue or permit impairment or deterioration of the Property
<br />aid ttiatti egAplq wish tis provifioos of any kafe if this Mortgage is as a ieafehold. if this Mortgage is on a unit in a
<br />eoadorwiiittaa a a pitoas{i unit de-Yk~pratat, Haarower snail perform all of Bonower's obhguioas under the dtcluuion
<br />err cotraraas uctOaB.or got+azairtt the caodwttinurm or piaatted uaft devebpmtoa, the by-laws and rsguiations of the
<br />caadoYUgiam or piaaaad twit devslopment, and canui[tieat docttmenu. if a candomiaiiun or planned unit devciopment
<br />tidal i; mcsc+asd by llesrowrr pad recorded together with this Mortgaje, the cuveaanzs and agreements of such ndtr
<br />w~ ~~ into pad sidl amend uxf supplement the ooveautts and igrxmeozs of this Mortgaac as if tttc ride
<br />1M~
<br />?, g'yalaRtya! ~ Y~aaiar'a Setardgr. U Borrav+tz fails to perform the covenants and agrerrnenzs conuiritd in t}us
<br />ar fi atuion err praceadiag g comtaeaa: sd w'hich asar+xtaliy alSscu LrndEt's irtstest in tlce PropnrTp.
<br />but as Called W. eaciapat dasoain, i[twlven:.y. calk ertforcemeai. 05 arrarigemenu err proceedings involving a
<br />httalkrapt a drndaoc. rim Landes ac Lsedv's option, upon rtosict to Borrower, may alnico such appearartccs, d[sbure such
<br />ataac sad rake swan actmp a is aacerar}• to protr~[ Lender's inters[, iruciudarig. trot not limited to. d,cburument of
<br />ituflarils aitana,~''c faYn ar6 muY upon the Property' to mitt repairs, It Lcttakr required morigagt itnuranee as a
<br />ooaiditiatp of gfltiag tie latter feGWtd by ibis Mortgage, Borro+vr. shall pa:- the prcaniurns requucd ef~ maintain inch
<br />fa~aass is d6SCt tastal inch ifine s rbs rwgttirement for such ,nxurana terauuatrs to accordance w[eh B[xrowti s and
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