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<br />80-4 Q 5231
<br />UxteoaM Covaxntvrs. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Prindpal and Interest. Borrower shat( promptl}' pay when due the principal of and intere_t on the
<br />ipdeb[ednese 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 />Z. Fonds for Tales and Irtwrrance. Subject to applicable law or to 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 full.
<br />a slim (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may at[air, priority over this
<br />Mortgage, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />plusone-twelfth of yearly~ptemitun installments 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 />T'IirFbnds shall be held in an institution the deposits or accounts of which are insured ar guaranteed by a Federal or
<br />state agency iinduding 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 arzd bias, 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 interest on the Funds. sbaB be paid to Borrower, and unless such agreement is made ar applicable law
<br />requites such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borr rover, 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 security-for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender, together ,with the future monthly installments of Funds payable prior to
<br />rite due dates of taxes, assessments, insurance premiums and ground rents, shat! exceed the amount required to pay said [axes,
<br />asswntents, insurance premiums and ground rents as they fall due, such excess shag be, at Borrower's option, either
<br />prompily repaid to Borrower or credited to Borrower an monihty installments of Funds. If the amount of the Funds
<br />held by Leader shall not be stilficien[ 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 Lettdu to Borrower requesting paymem thereat.
<br />Upon payment in full of all sums secured by this Mortgage. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph t S hereof the Property +s wld or the Propert} is otherwise acquired by Lender, Lender
<br />shall apply, rte later than immediately prior to the sale of the Yropeny or its acquisnion by Lender, any Funds held by
<br />Lender at the time of application as a credit against the sums secured by this Mortgage.
<br />3. A~lieafioa of Payeieats. 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 first m payment of amounts payable to Lender by Borrower
<br />udder paragraph ?hereof, then to interest payable un the Mute. then a, the principal of the Note. and then to interest and
<br />principal on any Future Advances.
<br />4. Chttgls; Liens. Borrower shall pay all rases. assessments and ether charges fines and impositions a[tnbutable to
<br />the Property which may attain a pnority over this Mortgage. and teasehold payments or ground rents. if any, ir. the manner
<br />provided under paragraph 2 hereof or. tf not pa+d m such manger. by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shaft promptly furatsh to Lender all nooses of amounts due under this paragraph, and in the event
<br />Borrower shall make payment direcil}'. Burrower .hall promptly turn+sh to Lender receipts evidencing such payments.
<br />Borrower shall Promptly discharge any lien..chich has pnant} over this Mortgage: provided. that Borrower shall not be
<br />requited to disebazge aey such lien so long as Borrower shall agree ~.n nnnng to the payment of the obligation secured by
<br />such lien in a manner acceptable to Lender. ur shall in good f with contest such lien hy, or defend enforcement of such lien in,
<br />legal pnxeedings which operate to prevent the enforcement of the hen ar forfemtre of the Property ar any part thereof.
<br />S. Allard Itttnratice. Harrower shall Acep the +mpro_ements paw exiting or hereafter erected on the Praperry insured
<br />against loss by fire, hazards included within the term "extended coverage'. and such other hazards as Lender may reyutre
<br />and in such amounts and for such periods as Let.der may rcyutre: provided that i.ender ,hall not require that the amount of
<br />such coverage exceed that amount of coverage required to pay the .urns secured h} this Mortgage.
<br />The inwraace esrrier providing the insurance shall lie chosen 6y Born~wcr subject to approval by 1_ender, provtded.
<br />that such approval shall oat be unreasonably withheld. .411 premiums un insurance poiicees shag be paEd +n the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner. by Borrower making payment, when due. dire+aly «r the
<br />itfsutance carrier.
<br />AB insurance policies and renewals thereof shat) ere +n form acceptable to Lcndu and shall include a standard morgage
<br />clause in favor of and in form acceptable to Lender. Lender ,halt hate the tight to hold the policies and renewals thercoL
<br />cad Borrower shall piompdy furnish to Leader all renewal notices and nit rece+nts of paid premiums. Ire the event of loss,
<br />$wrowe[ shall give prompt notice tE the insurancY earner and Lender. tender ma} make prca?E of loss +t n:>t made promprl}
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agr ~ u' w piing, insurance pr kce.is shall f+e applied to restoration .,r repair of
<br />the Property damaged, provided such restoration or repair is ecoi:om+cally feasible and the security of thu Mortgage is
<br />not thereby unpaired. If such rt-s[ur:[tion or repair +s not ecunom+cally feasible ur it the s::curuy of thu Mortgage would
<br />6e impaired, the insurance proceeds stroll be apphad to the sums ,ecured h} this Mortgage. ++ith the e~t:c. s, if any. patd
<br />to Borrower- If the Propert}' is abandoned h} Bor>ower, or it Borrower tuds «' sespntd to Ls:nda:r withui 3t! days from the
<br />date trotice is mailed by Lender ro Borrower that the insurance :airier otien to scale a cia+m lur inuurance benefits, Linder
<br />is authorized icy collect cad apply the +nsurance prex.eeds at Lender s opnun either to res[urauun or repair of the Properly
<br />or W the sums secured by this ~iortgage-
<br />Unkss Lender and Btn7ower utherw ise agr«, ~n writing. an} sash application of pr.>Leeds ;v prncipal shall nut extend
<br />or partpone ibe due date of the monthly installment referred «. in paragraphs ! and ? hereof or change the amount at
<br />such installit[ents. Sf under paragraph !& hereof the Proper(. ii acquired bt Lender. ai{ tight, rate and interest of Borrower
<br />to cad to an}• insurance policies amt in and to the proceeds titcreol resulting from dam:e~c «, the Yropen} prior to the sale
<br />of acquisition shall pals to Lender to the e.tent ut she :wins sa-curzd b}. flit. Murt~a~c ~n;inediatcl. prior «+ wch sale or
<br />~n• - -
<br />5. PreaervaWo cad .lfaraftenaace of Property; 1_easehoitLs; C'ondomiaiums; Planned UniF [hvclopmrnis. Harrower
<br />shag keep fbe Property ili good rep~r and shall pat commit waste ur perms[ rmpairmcm or dcteriaration of the Proper(}
<br />apd-Shall Comply with the prnvisiota of any ~.ase rt ih:a 'ttrangagc is on a leasehold. !2 this !~lor[gage is un a un+t +n a
<br />eondorninium or a planned uaia oeceiapmeni, Borrower .hail pcrfcn tit all of Borrow ar s s:birgatraes ender the decSarnuau
<br />or tovetuoFs creating or gnvermng the c.rndonunii,nr .w plantred oast development, the b}-laws .ind [eguiati.xs of the
<br />CondprflinWm or plumed utut development, :sad constitucat dxumeut±. ii a .ondi,ntinius; ..r pYa~utcxl ;i:;,i ,;..: a~::,pnicrt
<br />rider is exeeukwrd isy Borrower and recorded together :s uh this Mortgage, the ~o;cna tits .:nd ,.aracmen[s of +u.:h nder
<br />ihaall be itscot'par•ted into and shall amend 'and suppicracut the cos enants and ~Ereetnents ,+: thro tiiangage as if the rider
<br />wsrn a Patt hereof..
<br />9c PttbMeliiw of Letsdsr'x Seeurlty. If Borrower tads to perform the cavenents and :igrcements cumau+ed m flirt
<br />A(orlyage, or if any action s>t prcreceding t+ cotumcncea! which materially affects l.en:ier, ~ntans[ in the Propr;i}.
<br />inclading, buF nut limited to, emixtettt dontain: imnf~rc:x}~ cite cnturceitxat, or arrnngemcnr..n p; oreedmga inval. mg a
<br />'baokruptor da:ede:nt, then Leader at Lendeiz opnun. upon noc+ec t,, Horrawer, nosy make au~h appear:utcc,, di,hur.a .~,.h
<br />frtnffi dad take such action as i& uecessazy to protcc.t 1,ertcler's interest, ~rrchrdm4, but lilt iunited to, d~;huracmcni , ,
<br />reaumabk attorney's fees lord entry umrn the Praperi3 to make report It 1_endci a•yuueJ nxutgage unuranae e- .,
<br />¢oMtitioo of (.faking the loan secured by this Mortgage, Burrower shah {+u} ±he premiums regwr-~d ic, mamta~n ,uch
<br />llf-aratlCe iR e~tCt nntll SnCi[ 1i/1iC aS the leytiirCfnent f9f Sth:h insurance lei m+nate±. in ~~cordan~e with Bvr n,w a•a': an.i
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