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<br />81- z~(i~}~37
<br />Uxtr+oaat Cnvtixaxis. Borrower and Lender rnvenant and agree as follows:
<br />I. lapatert d Pthac}~t t»w Irtcresf. Borrower shall promptly pay when due the principal of and interest on the
<br />indebtedaeas evidenced try the Nott, prepayment and late chargGS as provided in the Note, and the principal of and interest
<br />on arty Future Advances secured ley this Mortgage.
<br />1 F®is for Tttm ai I[t~ee. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Le,;:~ an the day iiton7hly instalitnenis of principal and interest are payable under the Note, umil the Note is paid. in foil.
<br />a sum (herein "Funds) equal to one-twelfth of the yearly taxes and assessments which may attain pttiority over this
<br />Mott~ge, and ground rents on the Property, if any, plus one-twelfth of yearly premium itrstatlmeMS for hazard irturrana,
<br />plan ~e-twNhO of yearly premium instaUmrnts for mortgage insurance. i f any, all as ttasonably estimated- initially and from
<br />tittle fo Uinfi by Caroler on tl~ basis of assessments and bilk and ts:asorrable estimates thereof:
<br />Tht Ftrrxds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agetscy (inchrding Lender if Lender is such an institution}, i.ender shalE apply the Funds to pay said taxes, assessments,
<br />i[ritrnace pr~niurru atxl ground rents. Lender may not charge for sn holding and applying the Funds, analyzing said aeca[nt,
<br />or verifying ate compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permit Leader 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 Borrvwer, and unless such agreement is made or applicable law
<br />requirzs such interest to fee paid, Lender shad not be required to pay Bareawer any interest or earnings on the Futrds. Lender
<br />shag give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds aml the
<br />purpose for which each debit to the FunJs 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 />the due dates of taxes, asse~ments, insurance premiums and ground rents. shall exceed the amount required to pay said taxes,
<br />aasenments, insurance premiums and ground rents as thcp fall due, such excess shall tx. at Borrower's option, either
<br />promptly repaid to Borrower or credited to Burrower on monthly installments of Funds. If the amount of the Futrds
<br />hdrd by Lender shall not be sulficieat to pay [axes, assessments. insurancc premiums and ground rents as they fall due,
<br />Borsower shah pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Botiower rcqueanng payment tFxreof.
<br />Upon payment in full of all sums secured by this Mortgage. L.erder shall promptly refund to Borrower any Funds
<br />held by Letxitr. If under paragraph i8 hereof the Property s sold or the Properly s otherwise acquired by Lender, Lender
<br />shall apply, mr tame than immediately prior to the sale of the Property ar its acquisition by Lender, any Funds held try
<br />L_.~r at tht tune of ap^rr.sation as a credit against the sums soured by thu Isiortgagc.
<br />3. AppYeafies et Paymer~. l,'nless applicable law provides otherwise. ail payments received by Lender under the
<br />Note aitd paragraphs 1 and 2 hereof shall be applied by Lender first m payment of amounts payable to Lender by Borrower
<br />unfit patagrap6 2 hereof, then to interest payable un the Note, then to the principal of the Nare, and then to interest and
<br />principal on any Future Advances.
<br />4, C-rugea; I3ns. Borrow°er shall pay all taxes, assessments and other charges. fines and impositions attributable to
<br />the Property which may attain a priority over this Mortgage. and leasehold payments or ground rents, if any, in [he inantter
<br />provided tinder paragraph 2 hereof ot, if not paid in such manner. by Burrower making payment. wtrcn due, directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all notices of amounu due wader this paragraph, amf in the event
<br />Borrower shah make payrnent directly. Borrower .hall promptly tumish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any tied which has pr:orety i:.rr thrs Mortgage: provided, that Borrower shall not be
<br />required to discharge any such lien sv long as Burrower shat! :agree to venting to the payment of the obligation secured by
<br />suslt Ilea in a manner ascspt to L~~der, er shat! in gu<kS faith contest su: tr !ten hy, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the Itcn nr toneiturr of the Property or any part thereof.
<br />5. Saae[d Dace. Borrower shall keep the :mpravements now existing or hereafter erected tin the Property insured
<br />against lass by fire, hazards inchtded within the term "rxtenr~d coreragr'-, and such other hazards as Lender may require
<br />and in such amounts and ter such periods as Lender may requtr-.: p:ovtded, thst 1_ender shall not reyuirc [hat the amount of
<br />such coverage exceed [hat amount of coverage reyuved to pay' the sums sttured by this Mortgage.
<br />The imtuance carrier providing the insurance shall be chosen by 8onower subject to approval by Lender, provided,
<br />that such approval shall not be unreasonably withheld. .4t2 prcmriums an insurance policies shall kre paid in the manner
<br />provided under paragraph 2 hereof or, if met paid m such manner, by Borrower making payment, when due, directly to the
<br />insufaate cattle[.
<br />AU iruuraace poiicres and renewals thereat shalt tar in tvrm acceptable to Lender and shall include a standard mortgage
<br />clause in favor of and in form arceptab{e tz+ l..endcr. i.rnder ,hs(7 have the right to hold the pohciea and renewals thereof.
<br />aad Horr+nwet shalt promptly furnish !a Lender af( renewal notic.s and all receipts of paid premiums. In the event of loss,
<br />Borrower shall give prompt notice to the trrsuraine earner and Lender. Lender may make pruot of loss if not made promptly
<br />by °..artoxer.
<br />UnI~ Lander and Borrower otherwise agree in wnung, insurancc prsxeeds shalt he applied to restoration ur repair of
<br />tlx Property damaged, provided such rcstorauun ur repa;r is ecvtwmn:a(ly feasible and the security of [his Mortgage is
<br />not thereby imparted. If such restotauun vt repair is not ccutwmicaily feasible yr it the secunty of this Mortgage would
<br />be impaired, the insrirancx proceeds shall be applied to the sums soured by [his Mortgage, wnh the excess, if any, paid
<br />io Borrower. If the Propern is atratrdvistd by FAirruwer..+r rt Borrower tads to respond to Lender within 3U days [tom the
<br />date raotiix is maikd bJ' Linder to Borrower that the insurance earner ,+tlcn ::s stole a claim for insurance benefits, Lender
<br />is autharirtd to collect and apply the insurance prcmeeds at Lender's option either to restoration or repair of the Prnperiy
<br />or to the auras secrued by this Mortgage.
<br />Unless Lert6er and Borrower otherwise agree to writing. any ,uch application of pruc.ecds to principal shall nut extend
<br />ar pasilwtre ttte due date of ttte menthty installments referred to i^ paragraphs t and ? hereof or change the amount of
<br />such itrstalitrreatx. !f utrder paragraph Ito hereof the Property :s acquired by Lender. all right, title and inrcrest of Borrower
<br />in a~ to wy itsstrrance policies and in and to tlx proceeds therwt resuinng from damage to the Property prior to the sale
<br />ttr• asyuisition shall pass to Cxnder to iht extent of the soma secured 6y this `ylortgagr tsnmtdiately poor to >uch sale or
<br />acgruaatxin. .
<br />6. P1MlrvNiea alai Maia[eaare at Property; F,easehal~t Corsdomiaiuma; Planned t;tsit IDerebpaseats. tiorrewer
<br />shall heap the Property in good repair and shall iwt commit waste ur permit impurment or detericrra4vn of the Prnpeny
<br />aad strait comply with the proviseons aF any feast if this Mortgage is on :i ieaxttold. if this Mortgage is tin a unit in a
<br />c~~:iWtivt cr a pt_rt:r~ °anri iiaveta1pn:tot, 8orrovser shall p;.rf<+rm :dE tit Borrowers c~ltgations under itx dtclaraucn
<br />sst covenants ctcanrrg or gav~nrng the condonunium yr planned unit development, the by-laws and rcguiations of the
<br />eondaninit$[r of planate! utti# ~veksp[ntn4 aad crmstituenr docu:rxnts If a condominium or planned unit develupatent
<br />rider a executed b3' Bor:owrx amt tez:nrdtd to~ther ~+~tth this Mengagr, the covenants anti agrecmcnts of such rider
<br />shall be in..orerarafai trrio and shall amend and supplcmem the covenants and agreements of this Mortgage as it the rrdcr
<br />vaYre a Bart hetieaf.
<br />7. Pratiediaa of l.eaier'a 5ecsrYy. i.r Borrower faits to perform the envtnams and agrrernenu cuntainrd m this
<br />MuriBajpd, or if aay aetiua ar proreedrng is cummerrced which materially at7ects Lenders interest in the Property,
<br />i®cht~rtgi, but lost liasitdl tu, tmitttm dnreain, rasoivern;y, ccxk rnforcetiytnt. s.+r arrarigemrnts or prcrcetdings mvulving a
<br />lt~trupt or dasot~st, then Le~sr as [..ender's r;ption, upon rxuice to Borrower, m»> make such appraranees. iistrurx such
<br />s am3 take such a::torr as rs ttsc~vsary to prcusxt Ixtrdtr's ;nrrrrsa, :nciurting. but not );mired ta. drtlrursement tit
<br />raaa[raable atiortssy`s fees atul entry upon the Property to make repair,, f; Lender iryirimd morcgage insurance as :,
<br />; onrf7itota of inadtiat the heart stewed tsy this Mortgage, fforn~wrr s3rall pay [ht pzerrtiutns regtnteat to maintain such
<br />irmwtmr9c's in trlbett ratttil such trCat as the sequueaaent for sus:h insurancc tesminates m accordance with Borrawtr s and
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