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<br />Ltrrrroant L;ovar.•xrrrs- Borrower and Lender covenant and agree as follows:
<br />1, Pagateat of Prlaelpat a®d Itrrernst Borrower shall promptly pay when due the prindpal of and interest oa the
<br />iadebtedtress evidenced by the Note, prepayment and tare charges as provided in the Note, and the grituipal of and interest
<br />on any Future Advances secured tsy tY.s Mortgage.
<br />2. Fbs~ for'Fraa attg Iaeanace. Subject to applicable law or to a written waiver by Lender, Borrower shag pay
<br />to lender on the day monthly iasialiments of principal and interest aze payable under the Note, until the Note is paid in full,
<br />a sum (herein "Funds'q egttal to one•tweffth of the yearly taxes and assessments wfiich may attain priority over this
<br />Mortgage. and ground rents oo the Property, if any, plus ano-twditfi of yearly premium irtstalirnents for hazard insurattce,
<br />plus sae-twelfth of yearly premium installmeab for mortgage irtsurance, if any, a<I as reasonably estimated initially and from
<br />5me to time by Lender on Ehe basis of assessments and bills and reasonable estimates thereof.
<br />7Tte Funds shall be hdd in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />stale agency (inctnding Lender if Lender is such an institution}. Lender shalt apply the Funds to pay said,tazes, assessments,
<br />i~watrce premiums and ground rents. Lender may not charge for so hording and applying the Funds, analyzing said account,
<br />or verifying and rmmpiling said assessments and bills, unless Lender pays Borrower interest nn the Fundx and applicable law
<br />permits Lender to make such a ci[arge. Borrower and Lender may agree in writing at the time of ezecu5on of this
<br />Mortgage that interest on tht Funds shall be paid to Borrower, and unless such agreement is made or applicabre law
<br />regtrires such interest to.be paid, L.ettder shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />strait 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. Tire Funds are pledged as additional security for the sums sxured
<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 />the due dates of taxes, assessments, insurance premiums and ground rents. shall exceed the amount required to pay said razes,
<br />assessments, insurance oremi"m' and ground rents as they fall d!+e, such excess shat! !", at Betrower's o tiara, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amounF of the Funds
<br />held by Lender shall rant be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Harrower shall pay to Lender any amount necessary to make up the deficiency within 3G days from the date notice is mailed
<br />by Lender to Borrower regtres[ing payment [hereof.
<br />Upon payment in full of all sums secured by this Mortgage. Lender shat! promptly refund to Harrower any Funds
<br />hold by Lender If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its acquisition 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. Application of 1'aymetrts. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shag be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Note, then to the principa( of the Note, and then [o interest and
<br />principal on any Future Advances.
<br />4. C~tges: Lietas. Borrower shall pay all taxes, assessments and other charges. fines and impositions attribatabie to
<br />[he Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the manner
<br />provided under pazagraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower sbatl promptly furnish to Lender ail notices of amounts due under this paragraph, and io the event
<br />Borrower shall make payment directly, Borwwer shalt promptly famish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any sera ~~~hich has priority aver this Mattgage: provided, that Borrower shall not be
<br />req~red m discharge say such '.ten su tang as Harrower shatf agree in wi°rnng to the ~ ~ayrnent of the obligation secured by
<br />such lien in a manner acceptable to Lender, or shalt in goad faith contest such lien hy, or defend enfarcemem of such lien in,
<br />lags] proceedings which operate to prevent the vnlor tment of the hen or forteiturc of the Property n: any part thereor.
<br />s. I-I~r-d Isa~rranc~. Harrower shall keep the improvements now en~~isung or hereattcr crewed on the Properly insured
<br />against toss try fire, hazards included within the tr:rrn 'cctcndeJ caveragr: -. and such other hazards as t.r:nJer may requrre
<br />oral in such amounti and for such periods as Lender may regnu'e; pn?videJ. that Lender sha}I not require that the amount of
<br />such coverage exceed that amount of coverage reaaired to wy the .+,nts s:„•c~red by thts M~srtgage.
<br />tae rnsurattce carrier providing the incur race shall ire chosen by Brrrrawer subject to approval try Lend~•r, provided.
<br />tr3aE s:t, apgraaal shaft oat be unreasonably withheld. .ail premnrms on insurance policies shalt be paid +n the manner
<br />provided under paragraph 2 hereof or, iZ nut paid in such manner, by Burrower making payment, when due, directly to the
<br />inswaace carrier.
<br />Atl insurance policies sad renewals thereor shall M in fomt acceptable ro !_ender and shall include a standard mortgage
<br />douse in favor of and in form acceptable to Lender. Lender shat) hove the right to hold the policies and renewals thereof.
<br />and Borrower shat) promptly furnish to Lender a8 renewal notices and ail recetpts tit paid premiums. in the even[ of lass,
<br />Harrower shalt give prompt notice to the insurance carrier art) Lender. 1_ender rosy make praot of loss it not made promptly
<br />by )Iorrnwer,
<br />Unless Lender and Borrower otherwise agree in writ+ng, msurunce proceeds shall be applied to rcstoratimr or repair of
<br />ilre Property damaged, provided such restoration or roparr s economically feasible and the security of thts Mortgage is
<br />not thereby impaired. tf such restoration ar repair is not economically feasible or ~f the security a( this Mortgage would
<br />6e impaired, the +nsurance proceeds shall be appiieJ to the sums secure) by this Mortgage, with [he excess, if any, paid
<br />to Borrower, f[ the Property is abandoned by Harrower, or +P Borrower fails to respanJ to ]coder wuhm 30 days from [ha
<br />date notice is mailed b}' Lender to Borrower that the insurance carrier afters [o cord[ a dorm for imurance benefits, Lender
<br />is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />ar to thr; sums ser:ured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in wrung. any such application of proceeds [o pnncrpal shall not extend
<br />or posipanc the due dale of the rnon[hiy installments retorted to in paragraphs 1 oral 2 hereof or chance the amount tit
<br />such installments. If under paragraph !g hereof the Property is acyuued by Lender, x11 right, utlc and inionret tit Iorrower
<br />in anal to any insurance policies and in and to the proceeds thereat resulting from damage to the Froperty prior to the sale
<br />or acgtaisitiou shall gals to Lender to t_he extent of the s_-.., secure) by th:s McrrtEag;::..+.+.ediat>Ip pt+c:r ,.. such s...~ u.
<br />acgt»sition.
<br />s. Pixservatioa and litaintenance +rf PmPerly; t,easehWds; Condominiums; Flossed Unit Ueseiapn[ents. Borrower
<br />shall keep the Property in good repair and shall not commit waste or ptrmn impmrrnent or deterioration tit the Property
<br />and shalt comgiy with the provisions of any (ease .f this Mortgage rs tin a !easehald. !f thts Mc?rtgugu is tin a unu n~ a
<br />condumtnium or a planned unit develapmeni- Harrower shall pet[orm till of HarroweCs abhgatsons under the dcciar atrcm
<br />or covenants creating ar goventing the aatdommium or planned urn Jevdopnrent, the by-taws and regulations rat the
<br />ccvzwkrrninium or planned unit dt:velopment, and constituent dcx~vments. 7f a condominium of planned amt aievelupmcnt
<br />rides is executed try iiarrowet and recordoJ together wath tors Mortgage, the cuvenarts and agreements ~+1 .itch r+Jcr
<br />shalt be incorpurafed into and shell amend oral supptenxnt the covenants :ntJ agrcentents of the Mortgage as ;r the rider
<br />were a cart trereof.
<br />'/, Prufection of I,eradtre Seeurky. !f Harrower fa:Js to perk, rm the cnvemuns oral ugrecmcnts :.auamed n. this
<br />Mortgage, or if any action ar pruceedrng rs commenced whtch nratr:rially atfecb Lcnder~s uuetesr in the Protxny,
<br />!adudirtg, but trot &miied ta, emtncnt domain. iasolvenn~, caxie rnforcnmcnt. or cu rarrgemcnts er prc>LCedings urvalving a
<br />tsaakrupt or decedent, then Louder at tenJnr's option, upon Hance to Borrrwcr, may m.,ke such ,tppearaacu. Jrshurse such
<br />aunts amt take such action as to necessat4 to protect Lenders ^nuest. onJu.trug. but not Lmned to. J~sborsentcra .
<br />rcasanabte attorneys fees sad [terry rayon t}se Progerry to tnakc repairs. if Lender rcyuired nu+rtgage loam anti as `r
<br />z,xt~~.v>-n +,t r~4i^4 tJ:_ Jc~z! =~„_,c;i b}- th.s ~~1:s^ ag;; B.:-.rxa .,,,:sl' ... - ` 3 .,+ms -._yr.r.cat -_. ratan.. ,n ,..:.h
<br />erg tr _ _ra sach~.-H~ .._ t!, .~, .....,_,., f.:, 7u~., ..,,u,a,-. .. .,,, ~_ ++ ,.,.va rya na s_,n 8c-. r. .c. _ s,u
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