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©-0052'70
<br />L1NtFOitTt COVENexrs. Borrower and Lender covenant and agree as follows:
<br />1. Paytneet of Principal aad Interest. Borrower shat! promptly pay when due the 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 />oa aoy Future Advances seetued by this Mortgage.
<br />2. P`rnti for Tuts and Iawtaace. Subject to applicable law or ro a written waiver by Lender, Borrower shall pay
<br />to Lender on the dap monthly installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a sum (herein "Funds") 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 />glus.otte-twelfth of yearly premitmt installments for mortgage insurance, if any. ail as reasonably estimated initially and from
<br />time tatimt by Lender on the basis of assessments and hills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state ai$ency (including Lender if Lender is such an institution 1. !.ender shall apply the Funds to pay said taxes, assessments,
<br />ittsurtutce 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 6i{ls, 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 shall be paid to Borrower, and unless such agreemem is made or applicable law
<br />requires such interest to be paid, Lender shall not he required to pay Borrower :my interest or 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. T'hc Funds arc pledged as additional security for the sums secured
<br />6y this Mortgage.
<br />If the amount of the Frtnds held by Lender, together with the furore monrhh• installments of Fimds payable prior ro
<br />tht due dates-of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments. ituurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credned to Borrower on monthly installments of Funds. If [he amount of ?he Funds
<br />held by Leader shag not be sufficient to pay taxes, assessments. insurance premiums and ground rents as the}' fall dae.
<br />Hoaowershall pay to Lender any amount necessary• to make up the defitaency within 30 days from the date notice is mailed
<br />by Leader to Harrower requesting payment [hereof.
<br />Upon payment in full of all sums secured by this Mortgage. Lender shall promptly refund to Borrower an}• Funds
<br />held by Lender. If under pazagraph 18 hereof the Property +s sold or the Propeny +s otherwise acgwred by Lender, Lender
<br />shall apply, no later than immediately prior to ilia sale of the Propetry or us acquisition by Lender, any Funds held by
<br />Lender a[ the time of appticatian as a credit against the sums secured by this Mortgage.
<br />3. A~Yealioa of PaytatMa. Unless applicable law provides otherwise. alt payments received by Lender under :he
<br />Note and paragraphs 1 and 2 hereof shall be applied by i_eader fiat m payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable tin the Note, then to the principal o[ the Note, and then to interest and
<br />principal oa any Fu[ttre Advances,
<br />4. '~Wtl~ Lilacs. Borrower shall pay ail taxes, a: sessments and other charges, fines and impositions attributable to
<br />the Propeny which tray attain a priority over this Dlortgaee. and leasehold payments or ground rents, if any, in the manner
<br />provided coder paragraph ?hereof or. if not pa[d in such manner, by Borrower making payment. when due. directly to the
<br />payee [hereof. Borrower shall promptly furnish [o Lender all ponces of amounts due under this paragraph, and in +he event
<br />Borrower shall make payment directly, Borrower shall promptly fumtsh to Lender receipts evidencing such payments.
<br />Borrowa shall pramptly discharge any lien which has pnorny over fits Afortgage: provided, that Borrower shad! not be
<br />ttxluired to discharge am such lien so long as Borrower shall agree it wnnng to the paymem of the obligarkcn secured by
<br />such lien in a tttanmr acceptable to Lender, or shall in good faith contest such hen try, or defend enforcement of such lien -in,
<br />legal ptna-edings which operate to prevent the enforcement of the Len or fortetwre of [he Property ur any part thereof.
<br />5. Ilaraei Iawraece. Borrower shall keep [he tmpmwemants now ewisung or hereafter erected nn the Property insured
<br />agaitta[ last t,y fire, hazards included within rite term "extended ccwerage' . aad such other hazards us lender may requte
<br />and in such amounts artd for such periods us Lender may requite: provided, that bender shalt oat reyu+rc that the amount of
<br />such coverage exceed [hat amount of coverage requutd to pay the sums sect:nd h}' this Mortgage.
<br />The itsuranct eazties providing the insurance shall he chosen by Borrower subject to approval h}' Lender; provided,
<br />that such approval shall not be unreasonably withheld. Ail premums on insorance pulictes shall oc paid +n the manner
<br />provided under paragraph 2 hereof or. ±f oat paid in such manner, by Borrower making payment. when due. directly to the
<br />talttranCe Cattle[.
<br />All imurance policies and renewals thereof shall he in form aca:eptablc to Lender and shall +nclude a standard mortgage
<br />clatne in favor of and in form acttpta6le to Lender, Lender shall have the right to hold the policies and rrncwals thereof,
<br />aad-Borrower shall protnptty furnish to Lender all renewal noteces and sll receipts tit paid premiums. In the event of loss.
<br />Borrower tllail give prompt notice to rite insurance carrier aad Lender. Lettder may make perxtf of loss ti not made prompt!.
<br />by Barrvttver.
<br />Unicot Lender and Borrower otherwise agree in wntitsg, incur auce proceeds shall be apalied to restoration ur repair of
<br />the Property damaged, prerided such restoration or repair es rconomtcully feasible and the security of th[s Mortgage is
<br />rra[ thereby unpaired. I# such restoration er repair, rs not erottomicaily ,a:asible ur if the szcunty of this Mortgage would
<br />`x impaired: the insurance praceeds shall 6e applied to the sums secured L^-} [h+s ;kfurtgage, with the exet:ss, it any, pa+d
<br />to Borrower. If ilia Property is abandartct7 b} BB<?rruwer, asr at Borrtnwer 3mis so respt+nd to Leader within 30 daya }tom the
<br />date aotitx Ss mailed by Lender to Borrower [hat the insurance carrier astfen to settle a claim for insurance benefits. Lender
<br />is attthtxizal io collect and appip the insurance procxeds at Lenders apt+on either to restoration ur repair of the Property
<br />ar w the slums secured by this Mortgage.
<br />L'nltxs Lender anti Borrower otlretwi>c agree in wnnng, any si:cft appLcat+on .~( pr~~;Ceds to pnnc+paf shall not extend
<br />at postpone She due date of the ntenthiv installments reYerrr=d to in paragraphs aril ' hereot or change th:: amoun? of
<br />stwh iastaikments. if under paragraph t23 he:'eof the Pr,Jperry is acquued hw Lauder. a±i right, title and interest rat Borrowei
<br />in anti, £a any i~ttsurattce poGcits aad in and to th*. praxeeds thereo! recutttng from damage to [he Property pour to the >ake
<br />or acquisition shelf pass to Lender to the extent a:f the curio >ecurcd h±: th„ !rfort¢a£:r ,mmedtately prwr tc, ,rich sale or
<br />~..
<br />4 TseRrt'afisn attd Vlalateaance of Property: Leritehuids? t'ooda~sruriuuts: Ptanned Quit 1)rveiaparcnn:. P,arruwer
<br />shsii keep the Property in good repair and shall not commit w3s[e ur permit ampa:rment or deteriaraua+n of the Property
<br />and Shill campay With-Slit:. puivi,-tans of any' lease of tlsts Stortgage z. aril :: leasa:hoid. It trtiS Ma~rtgage is crop a iron +n n
<br />toitdtasirnitlm xx a glatxnued unit drvclapmtta, Berrara~r snaik perform ,:11 x,[ Bosegt+vrs obl+gatruns coact the dc.katauan
<br />or :isvt-Hants crracing ar gov>:rning the candon;tniunt ++r planned tin+t dcaclupmrni +he t`y-taw, and reK.,lanon, .,t the
<br />chum cY- ~ unit-tkv~k-apmenf, =nik car>stuticut .to,:.~ncuu- it a _~?u.i.nn+ntum of p2anncd ukrt dexclupivent
<br />titter is eXScuted by Ao;[owex ava3 rccorafeal tegeth€,r u+ih than 'r1c:,~agc. i3ts :x acos+us a!td .agrecmen[+ of ,uch rider
<br />[hill he itscvrpcira£rA into and shall amend and supplement rise c+tac[t.tlsti :sock at;rcenxrits .:! ih,s 'tiforigage as it !t:e .,dot
<br />wwre a prat htieaf.
<br />T ,!~ aI barter`s Secwd/y. if Bunow~rr fails tp Ixrfnrn=. the cotenants aria age cements cosntainecl ;n this
<br />1tiertiage, ar if any aCtiD4 csr p[ottedmg to .ommeace.k which ntatcrtaily ,iileet> l,enxker~ +uterzst rn the Prarpcn~.
<br />~+ but nrt£ ltnfitGd tn. cam}}TCr;I. j}i73ryatn, iT}}~y;'.4`nC~. ~,.R~C Ytl itsr,~t7t?CFYt, . r .s~ rit:t~C niC+i15 . ('t~41`('dki3k:.ti ~nla,lr.ng J
<br />bruicft>{a nr dtccdtant, [11tH i.ender at Lersder's aptton, upon notice t„ Brim=rwet',nat rna4.c ,inks al:i~arance.. ahahu+sa =r+ai,
<br />sotto and.. rake [ugh a,;.tiun a>rs neceyseu~p tu' prakttr[ [.endet~s s'stenrsL ,<iadtn5, knA -x,+ 6m;t.~d io, d+shur~ca+ v+t , ,
<br />rcpabie a~git#ey~- face itid ettiry viwrt the Pt.npet:= t<:a mace t,a:a+:+ + S; 1 eni{s:r r~yt+nr.l :xtutrtgage in>uraa+.c ,a+ .,
<br />c't4R of rslaks[e~ the ISAen securest ag t$a,5 34ortgage. Borrows s*afk pct= =tie pier:.urata rcquved ta, r;Tatuta;n ,u..
<br />knstritiara in efle~t troll! stick timC tzs t'x regatta;treat for Huh n+sut a:[.z a :nunxti'> :., i.. s,tda+;i, w,th Bs,r ra,uLr-. ,a+xk
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