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<br />Uxmortst Covetvxtexs. Idortawsr and i..eader covcram and agree as fotbws: '_'-`~~,:~ ~~ ~ ~ ! ~ `~
<br />7. ~ of Psitttsipl aai iaaeraat. Borrower shall Pr~Pt1Y PaY when due the principal of sad interest on the
<br />inrkbtedatn evidenced by the Note, prtpayntent and late charges u provided m the Mote, and the ptftripa! of and merest
<br />on say Future Advances secured bY' this Mortgage.
<br />Z, Paads im T~s ad ta~see. Subject to applicable taw or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day monthly irtstallrmnta of principal and interest are payable ostler the Ntrte, umrt the Note ea paid in fu6.
<br />a stem therein "Funds") equal to orte-twelfth of the yearly taxes and asseratttetrb which tray attain priority over this
<br />Mortgage, and ground rents on the Property, ;f soy, plm orretwelfth of yeaziy premium insrillatenri for bazar! insurance,
<br />plan one-twelfth of yearty premium ittsntllmenri for mortgage inwrarxe, if say, atl as reasonably estimated irritialty sad from
<br />tune to time by Leader on the basis of a6Maantertri sad bit& a:rd reasonable esdtna[es thereof.
<br />7'be Funds shall be held io as ;nstitution the deposits or accouari of which are ina[tred or guaratveed by a Federal or
<br />state agency t including Lender if Lender is such an institution ). Lender shat) apply the Fua~ to pay said toes, assessmeari,
<br />inattrarect premiums a>td ground rents. Leader may not charge for so holding and applying the Funds, analyzing said account,
<br />err verfyeng and competing said assessments a~ bills, unless Lender pays Borrower itttereat on the Fins and appligble taw
<br />permits Lander to melee stub a charge. Borrower and Leader may agree in writing at the rime of execatioa of this
<br />Mortgage that tare-eat on the Funds shall be paid to Bortower, seed ttNeas such agreentatt is made or applicable law
<br />rrquirta wch interest to be paid, L.endtt shall not be required to pay Borrower any interest or comings on the Foods. Lender
<br />shalt give m Borrower, without charge. an annual accounting of the Fulls showing crediri and debits to the Foods and the
<br />purpose for which each debit to the Funds was made, liu Funds ate pledged as additional saurity far the soma stxuted
<br />by [iris Mortgage.
<br />if the amount of the Foods }reW by fender. together with the future taonthly instaBtttenri of Funds payable prior to
<br />the due data of taxes, assessments, insurance premiums and ground rents, shall exceed the amount requved to pay said taxes,
<br />assessments. insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Bormwtt or credited to Borrower oo monthly installmenu of Funds. If the amount of the Funds
<br />tell by L.entkr shall not be sttfficimt to wy taxes, asussmenri, insurance premiums and gmttad rents as they faU dtx,
<br />t;,~rrowtr shall pay to Lentter any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />Lw Leader to Borrower requesting payment thereof.
<br />Cdpnn paymem in full of all sums secured by this Mortgage, [.ender shall promptly refund to Borrower any Funds
<br />held try Leader. If under paaagraph lg hereof the Property is sold or the Property is atberwise acquired by Lender, Lander
<br />shat[ 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 term: cal application as a credit against the sums sectored by this Mortgage.
<br />3. AIp~pYcaNott ttf Pay~aEr. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Mate and parag~mphs i and 2 hereof shall be applied by Lender fits[ in payment of amounts payable [o Lender by Borrower
<br />utader paragraph ? hertw$ then to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />pnncipa1 on any Future Advances.
<br />i. ChoEes; Ijens, Borrower shall pay a6 taxes, assessmenu and other charges. fines and impositions attributable to
<br />the Property which may attain a priority over th[s Mortgage, and leasehold payments or ground rents, if any, in the manner
<br />ptwidtd under paragraph 2 hereof or. if not paid in such manner. by Borrower making payment, when due. directly to the
<br />payee thereof. Borrower shall promptly famish to Lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borrower shall promptly tumtsh to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge ary lien .which has pnority over this Mortgage; provided, that Borrower shall trot be
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such 1ren in a mattrxr acceptable to Lender, or shall in good faith contest such lies by, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or say part thereof.
<br />5. Cenral Imennce. Borrower shall keep the improvements now existing or hereafter erected an the Property insured
<br />against toss by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br />and is such amounts and for such periods as Lertder may reyuere; provided, that Lender shall not require that the amount of
<br />such wvtragc exceed that amount of coverage required to pay the sums secured by rhea Mortgage.
<br />"Tree iasuraact arrier providing tbe imurance shalt be chosen tw Horrawt€ subject to appmvai 6y Lender: provided,
<br />Ehat such approval shalt not be unrcasonatsly withheld. All premiums on insurance pohctes shall be paid in the manner
<br />pexsvidtsd under paragraph ~ hereof or, if not paid in such maaerer, by $orrower making payment, when date, directly to the
<br />IaatiranCY Cafller.
<br />All insurance policies arts renewals thereof shall be in Form acceptable to Lender and shall mciude a standard mortgage
<br />clause in favor of and in form acttptable to Lender Lender shall have the right to hold the policies and renewals thereof,
<br />and Borrower sheet promptly furnish to Lender all renewal notit:es and all receipts of paid premiums. In the event of loss,
<br />.Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make prom of loss iP not made promptly
<br />by $orrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />[he Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage ss
<br />not thereby impaired. If such restoration or repair is not economically feasible or of the security of this Mortgage would
<br />bt impaired, the insurance proceWs shall be applied to the sums secured by this Mortgage, wuh the excess, if any, paid
<br />fo Borrower. It the Property is abandotced 6y Borrower, or if 13ortower fads to respond to Lender within 30 days from the
<br />date notice is mailed by Linder to }lorrower that the insurance carrier offers to settle a claim tar insurance benefits, Lender
<br />is authorized to collect and apply the insurance procceds at Lender's option either to restoration or repair of the Progeny
<br />or to the stuns secured by *his Mortgage,
<br />Utiless Lender and Borrower otherwise agree in venting, any such application of proceeds to prinetpal shall rot extend
<br />or postpone the due date of the tnonthty installments referred to in paragraphs i and 1 hereof err change the amount of
<br />sash insWltnteats. If under paragraph Ig hereof the Property is acyuired by fender, all tight, title and interest of Borrower
<br />in and to any insurance policies seed in and to the proceeds thereof resulting Irom damage to the Property prior to the sale
<br />or acquisition shalt pats to Lender to the extent of the sums secured by rhea Mortgage immediately prior to such sale or
<br />acquisition.
<br />6. Pnuerradae sad Maiateiaeace of Lkuperty; l.easehplds: Condomiaiama; Pluaed Unit Uevetnyactsts, florrowcr
<br />smell ?tip the Pre~trfy tit go:xl repair sad sheet sot commit waste or permit iatpaitiaent or de[eriarauaa cf lire Property
<br />and sheet comply with rite pravisitws of ary lease tf rhea Mortgage ss on a leaseha:d. it this Mortgage is ran a unit in a
<br />coadotnutium or a planned uan development, Borrower sheet perterm all of Borrower's ebligatwns under the declaratiat
<br />or ctrvenaa:c sreating ar governing the coodomimun; or planned unit development, the 6y-laws and regulations of [he
<br />condominium cr planned unit deveioptntnt, and constituent doctunents. Sf a condominium or planned unit development
<br />rick[ is executed by Borrower seed recordW together with this Mortgage, the coveaanu and agreements tit such tiler
<br />shah (x incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as it the rider
<br />were a part Itertof.
<br />Prvt~ariota of Leader's scrttrify. tf Harrower fails to perform ttce covenants and agreements cuntaiced m rhea
<br />Maztgage, or if say acdoa or proceeding is cantmerced which materially aHec:ts tender's interest in :he Property.
<br />including, but not limned to, eminent domain, insalveacy, code enfore_etnxat, or arrangements or proceedings involving a
<br />bankrupt or decedent then Lender ai Leader's option, upon nonce to Borrower, may make such appearances, dtsbutse such
<br />stuns and take such acieon ay is rxcess:u~ to protect Lender's interest, including, but not timtted w, disbursement et
<br />rsar~rtabkt attotxy's tees and ertrf agar, the Property to make repair,. 1! I.cndtr required mortgage irwtran« as a
<br />eonetitn>a of rnakiag tot lq;t¢ tscursti by this Mortgage, llonawer shat! pay the prtrniums rrgmral to maintain such
<br />ii~a;ra:,rt in r°rcct unto sstcb tesec as she requirtrntnt for such mwratrce terminates m accordance wuh Burpawer's and
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