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~~--OCI ~30~
<br />Uttmoat~ CovExxxrs. Borrower sad Leader covenant and agree as follows:
<br />f, ;t'a9mtnt of Principal ~d Irr#ertat. Borrower shall promptly pay when due the principal of and interest an the
<br />indebtedness ;.videaced by Lstt Note, prepayment and late charges az provided in the Note, and the principal of and interest
<br />oa any Futwt Advances sec~!red b5r this Mortgage.
<br />2. ;lam for Ta¢ea sad Imsroraaee, Subject to applicable taw or to a written waiver by Lender, Borrower shaftf pay
<br />to Lendtr on the day moath'fy installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a stem (herein `=Funds") equal to one-twelfth of the yearly taxes and azsesstnents which may attain priority over this
<br />Mortgage, and grotmd rents en the Pmpery, if nay, plus oae•twelfth of yearly premium installments for hazard insurance,
<br />gins ape-twelfth of yearly premium installments far mortgage insurance, if any, alt az reasonably estimated initially end from
<br />time to time by Leader as the basis of assessments and bills and reasonable estimates thereof.
<br />"Ihe Funds shat) be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lender if Leader is such an institution). Lender shalt apply the Funds to pay said taxes, assessments,
<br />insurance premitmts and grotmd rents. Leader may not charge for so holding and applying the Funds, analyting said account,
<br />or verifying and compiling said assesstrtents and bills, unless Lender pays Borrower interest oa the Fnnds and applicable law
<br />permits Lender to make such a charge. Borrower sad Lender may agree in writing at the titrte of execution of this
<br />Mortgage that interest on the Funds shall be paid to Borrower, and unless such agrtemeni is made or applicable law
<br />requires such interest to be paid, Leader shalt not be requved to pay Borrower any interest or earnings oa the Ftmds. Leader
<br />,. shalt gjve to Borrower, without charge, an annual account;ng of the Funds showing credits and debits to the Funds sad the
<br />pttrpose for which each debit to the Funds was made. 'Ihe Funds are pledged as additional security for the sums secured
<br />by 26is Mortgage.
<br />ff the amount of the Fnnds held by Lender, together with the future monthly installments of Funds payable prior io
<br />the due Batts of taxes, asseazmenis, insurance premiums and ground rents, shalt exceed the amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents az they fall due, such excess shall be, at Borrowers option, either
<br />pmmndy repaid t4 Borrower or credltea_ *_o Borrower on monih!y instal!!ntnrs of F~nriq IF yhr ~_ vanr of the Funk
<br />held by Lendtr shall not be strtfzcitru to pay :axes, assessments, insurance premiums and ground repo as they fait due,
<br />Borrower shalt pay to Lendtr any amount necessary to make up the deficiency wizfiia 30 days from the date notice is mailed
<br />by Leader to Borrower requesting payment thereof.
<br />Upon paymtat in full of all stuns secured by this Mortgage, Ixndtr shall promptly refund to Brormwer any Funds
<br />held by Lendtr. If under pazagrapta 7$ hereof the Property is said or the Properly is viherwise acquired by Lender, Lender
<br />shall apply, no later than immtd@attly prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />1_eadt~r at the time of application as a credit against the sums secured by this Mcartgage.
<br />3i. Apfdicatloa of Paymtata. Unless applicable law provides otherwise, alt payments receiv[x1 by Lendtr under the
<br />Note .and paragraphs - and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by 8orrvwer
<br />under paragraph 2 hereof, then [o interest payable on the Note, then to the principal of the Note, and then to interest and
<br />principal an any Future Advances.
<br />B. Charges; liens. Borrower shall pay all tarts, assessments and other chsrgts, fines and imposivom attnbutabte to
<br />the Property which taay attain a priority aver this Mortgage, and leasehold payments ar ground rents, if any, is the meaner
<br />pmvided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment. whoa due, directly to the
<br />payee thereof. Barrawer shalt promptly furnistt_to Lendtr all notices of amounts But under this paragragh, and in the event
<br />Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shalt pmmgdy discharge any lien which has priority over this Mortgage: provided, that Burrower shad not lac
<br />reyttired to discharge any such lien so long as Borrower shalt agree in wriung ro the payment of the obligation secured by
<br />such lien in a manner acceptable to Leader, o; shalt is good faith contest such lien by, or defend enforcement of such lien in,
<br />legal grvcttdings which operate to preveai the enforcement of the lien ar forfeiture of the Property ur any patt thereof.
<br />g. Hazard fasttrsaet. Borrower shall keep the improvements now txistine or htreatfttr erected +ar. the Praperzy insured
<br />against Sass by fire, hazards included wi['hin the term "extended coverage". and such rnbtr haza.=ds as t_tndtr may require
<br />sad in <~ amavnta ~d far such periods as t~.nder may rtgvirt; prvvidtd., char 1_tndtr shalt !;ct r .t char !.,.. ,,., mount of
<br />such urverage exceed that amount of rnverage required to pay the sums secured by this .'.fortgagt~ou
<br />sae ins=3r ~e carrit provin=lag rte fnsuranct si:all bu ::hostn i:y 3vrrawcr ;ub~:^ , apprcv . 7;v : °ndt -wed,
<br />that such apprara9 dial! not bt un~ttssonably wi[hhttd, All grtmiums va insurance x!'4ks shy :~- raid rn 'ht jrianner
<br />provided um'.er paragraph 2 hereof oe, ;f not paid in such manner, by Borrower making payment, when due, diru[iy to the
<br />iasurattce carrier.
<br />AIt insurartct policies sad zentwals thereof shah bttn form acceptable to Lender and shall include a standard mortgage
<br />clause fir. favor of and in form acceptab}e to Lender. Lender sha« have the right to hold the policies and renewals thereof.
<br />am! Borrvwtr shall promptly futxtish to Leader a!1 renewal notices and all receipts of paid premiums. In the event of tens,
<br />Borrower sball give prompt notice to the insurance carrier and Lender. Lender may make proof of toss if not made promptly
<br />by Borrower.
<br />Unless Linder and 'Borrower otherwise agree in writing, insurance proceeds shat! be applied to restoration or repair of
<br />iht Property damaged, provided suet: restoratma or repair s economically ftuis;blt and the security of this Mortgage is
<br />not thetthy impaired. If such restoration or repair is not economically feasib{e or if the stcuritq of this Mortgage would
<br />be impaired, the insuratce proceeds shag be applied to [he sutas secured by this Mortgage, with the excess, if any, paid
<br />to Barrvwer. if the Pmptrty is abandoned by Borrower, or if Borrower fails to respond to 1_ender within 30 days from the
<br />daft notice is mailed by Lauder to Borrower that the insurance carrier offers to st«le a claim fur insurance benefits, Lendtr
<br />is autharized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or fo the sums secured by this Mortgage.
<br />Unless lender and $amwer athetwise agree in writing, any such application of proceeds to pnncipal shall not extend
<br />ar-postpone the due date of tha monthly insta{hnents referred to in paragraphs i and 3 hereof or change the amount of
<br />such inskalimtuts. It vtuler paragraph t$ hereof the Property is acyuired by Lender, a-i right, title and interest of Borrower
<br />in a[xI to any insurance policies a[td to and to the proct:tds thereof resuB;ng from datnagt to the Property prior to the salt
<br />or acalnisizion shalt pass tv Lendtr to tt~ txicnt of the sums scented tzv *,his ?4tortgagt imm~i:atel_v u- -- .~ sucia =ale or
<br />acyussitfon.
<br />~. rreetrvtt6mt a~ Aiaiaktaamt of Property; Leasthnlds; Condominiums; Planned Ualt bevelopmenis. Burrower
<br />stroll keep rite Property in good repair sad shall not commit waste or permit impairment or deterioration of the Properly
<br />and shal4 comgtp with the provisions of nay least it this h4ortgagt is oft a Seaseho-d. If ttsis Mortgage is on a unit in n
<br />ccmdt~ainlurn ar a piaruttd unit deveivpmtaF, Borrower shall perform all of $armwer's obl;ganons under the der:aratian
<br />or covenants creating or governing the condominium or planned unit development, the by-taws rind regulations of the
<br />candom;aium or planritd unit deveiopamn[, and cota5[i[ttent documents. if a condominium ar planned unit development
<br />~~dcr is t<:c>icutcd by Borrower ao6 recorded rogether wub t-us iNOrtgage. the covenants and agreements vt wch rider
<br />shall fat ;ncorgvrated iako and shaft amend and suppiemtnt the cavenan4s and agreements of this Mortgage as it the rider
<br />ware a pars hertaf.
<br />?= IProztctle~ al Leadrr'S Secarify. if Borrower fads to perform :ht covenarts sad agrcemtuu .:ortatned .a this
<br />hiortgagt, at if any action ur prat:etding is camnrenced which ntatcrially :dfects Ler:dcr'. interest in the Propeny.
<br />including, but not Iiarittd ta, eminent domairr, insvlv-tney. coot snfarrmtut, or arrangements or prxtedings mvotv!ag a
<br />bttakntgt ar dxedgnz, then Lendtr at t_etuler's option, upon notice to 8orrvwer, may make such appearances, disburse such
<br />starts and take such ;fiction as is t:ectssary to protect l.;ender's interest. !nch:tiing, but not limned to, dtxhursemeot os
<br />rttvKUrah't attorttey`s fees atui tiitry upon the Progtrtq~ tv make repa;rs. it Lender required mortgage insurance as ,i
<br />:=.ia£ - :~s?~ s-f - ~~u °~5 -- -_ '- _ a'>t'-'- -_. e.,.-:- ay .:.- _r:..u,.2s ~e+:usr~~ - .[an. ..h
<br />.~.~.~„,.,v ._. z,~r v=.c,a arch=t,uac ai t,c reytairt:nficu?~~or such'rasuranse rermtna4_s•in .c~_vrdance w'tthV our ra>wcr = .rnd
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