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<br />81-000'70
<br />UN[FOAM CovertnNTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest. Burrower shall 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 />on any Future Advances secured by this Mortgage.
<br />2. )Ftitrnds for Taxes acrd insurance. Subject to applicable law or to a written waiver by Lender. Borrower shall pay
<br />to Lender on the day 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 />plus one-twelfth of yearly premium installments Eor mortgage insurance. if any. all as reasonably estimated initially and from
<br />time to time by Lender on [he basis of assessments and hills and reasonable estimates thereof.
<br />'the Funds shall be held in an institution [he deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an insdnnion). Lender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge (or so holding and applying the Funds, analyzing said account.
<br />or verifying and compiling said assessments and bills, unless Lender pays Aorrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and i.ender mac agree in writing at the time of execution of this
<br />Mortgage that interest nn the Funds shall he paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest [o be paid, Lender shall nut he required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Rinds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Funds 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 />[he due dates of taxes, assessments, insurance premiums and eround rents, shall exceed the amount required to pay said taxes.
<br />assessments, insurance premiums and ground rents as theti~ fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited [o Borrower on monthly instalimcnts of Funds. If the amount of the Funds
<br />held by Lender shall not be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fal! due.
<br />Borrower shall pay to Lender any amount necessary to make up the deficiencc within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by ihts Mortgage. f_cnder shall promptly refund ro Borrower an}' Funds
<br />held by Lender. [f under paragraph 1K hereof the Property is cold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immedia[elp prior to the sale of the Progeny or its acquisiuon by Lender. an}' Funds held by
<br />Lender at the time of application as a credit against the sums secured by this Mortgage.
<br />3. Application of Payments. Unless applicable law provides otherwise al( payments received by Lender under the
<br />Note and paragraphs I and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable nn the Nore, then to the principal of the Nate, and then to interest and
<br />principal on any Future Advances.
<br />a. Charges; Liens. Borrower shall pay ail rases, assessments and other charges. fines and impositions attributable to
<br />the Property which may attain a priority over this Mortgage, and leasehold payments nr ground rents, if any, in the manner
<br />provided under paragraph 2 hereof ur. if not paid m such manner, by Borrower making payment, when due. directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender alt notices of amounts due under this paragraph, and in the even[
<br />Borrower shall make payment directly. Borrower ,hall prompt(} furnish to 1_ender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority os~er this ~Iurtgage; provided, that Borrower shall nut be
<br />required ro discharge any such lien so long as Burrower shall agree in wrinog to the payment of the obligation secured by
<br />such lien in a manner acceptable io Lender, or shall in good faith Conte<: such lien hy. ur defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforeemer,. ut the hen or forl'cuure of the Property or am- part thereof.
<br />3. Hazard Insurance. Borrower shall keep the impm.ements now esisung or hercaftcr erected on the Property insured
<br />agains[loss by fire, hazards included within the term "aytended coverage". and such other hazards as Lender may require
<br />and in such amounts and for such periods as Lender may require: pm+ided, that Lender ,hall nut require thct the amount of
<br />such coverage exceed that amoum of coverage raywred to par the .u m, ,ecured by this Mortgage.
<br />The insurance carrier providing the imurance shall be chosen by &vrowar subject to approval by Lender; provided,
<br />that such approval shall not be unreasonably withheld. :VI premium, nn insurance pulictes .hall he paid m the manner
<br />provided under paragraph 2 hereof ur, d nut p,uci in ,uch manner. M Burruwu making payment, when due, directly to the
<br />insurance cazrier.
<br />Atl insurance policies and renewals therco! ,hall tx in loan eectptablc to Lender and shag include a ,tandard mortgage
<br />clause in favor of and in Corm acceptable rt. Lender. Lender .hall hasa the right to hold the policie, and renewals thereof.
<br />and Borrower shall promptly furnish to Lender all renewal notices and ail receipts of paid premium,. In the event of loss.
<br />Borrower shall give prompt notice to the inwrance earner ,,rid Lander. Lender may make prt,ot of Ions i[ nut made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwna agree in canting. insw~ante pn,ceeds shall be applied to restoration or repxir ,~i
<br />the Property damaged, provided such restorauun or repair is economically feasible and the security of thu M1lortgage i,
<br />not thereby impaired. IF such restorauon ur repnu :s net economically feasible or :f the security of this Mortgage would
<br />be impaired, the insurance proceeds .hall be applied to [he sums secured by this Mortgage, wnh the execs, it any, paid
<br />[o Burrower. [f the Properh a abandaneJ hs Burrower. ++r a Borrower tails [o respond to Lender within 30 days Irnm the
<br />date notice is mailed by Lender to Borrower thx[ the insurance carrier otlen to settle :~ chum fur insurance benefits, Lender
<br />is authorized to collect and apply the mnuran.c proceeds at Lenders option either to restoration or repair of the Pro pert}
<br />or to the sums secured 6y this Mortgage.
<br />Unless Lender and Borrowar otherwise agree m wruing, am' such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments inferred to in paragraphs I ;rod 'hereof or change the amount ui
<br />such installments. IF under paragraph IS hereof the Yrupern is aeyuired h} Louder, all right, title and interest of Borrower
<br />in and [o any insurance policies and in and to the proceuls thereof resulting from damage to the Property prior to the ,ale
<br />or acquisiuon shall pass to Lander to the aacnt of the sums ,ecured by thin Murtgaga invnediately prior u, such sale ur
<br />acquisition.
<br />6. Presen~ation and Maintenance of Property: Leaseholds; Condominiums: Planned Unit Uevelppments. Borrower
<br />shall keep the Propeciy in gaud repair and ,hall nut commit waste or permit impairment or deterioration of the Property
<br />and shall comply with the provisions of any leas ii the Mortgage !s on a leasehold. If this 'viottgage is uu a unit in .+
<br />condominium ur a planned amt del-elopmant. Aorn,wer ,hail perform all „t Borroacrs ,~hhg::eons under the dularauun
<br />or covenants creating ur govern;ng the amdomi^nnu .u +Lm ued amt dcrelopmenl. the by-laws and regulation, of the
<br />cundominiuni or planned unit develc+pmeitt. and consiin:cnt ducumenn. If .::undominium ur planned unit Ja+elopmant
<br />rider is executed by borrower and recorded :ugether with this Mortgage, tits so+en;uus and agrcemenh •tt wch ;:der
<br />shall be inco[potated into and shall emend and ,upplaatent tha cu~enen[s amt agracmcntn of :hn ~~lor(gagc a+ ,i the rider
<br />were a part hereof.
<br />?. Proteclioo of Lender's Security. It Borrower (ails to pcttorm the cuvenantx rind .igreemcvas ,omuiucd in !hi,
<br />bfortgage, or if any acuun or prcxeeding a a>mmenced which materially ,dicers Lender'-, nuerant in the Pn+pcny.
<br />including. liar not litmted tc, emtawnt domain, :nsuicency_ axle cnfor,enunt, a; ;u ratigcnunu ,~t proceedings :m-ulai:tg a
<br />bankrupt of decedent, then Lender at I_endeln optiia,, upon notice u. Bornnacr, mat nwl:e s}ich ^ppearuues, :iisbursc ,uch
<br />scans and take such action as is nece,;an- to pn,tc~: 1_anckr s ~n;erest. utcindntg. liar +:.-t 6nrted to. d:shurvea:ant ,>f
<br />rcascrnable xttomey~s tats and entry upu r, the Property to tnnke repair, If l.cnder tt: y;;i;ed mortgage inset once .n a
<br />t.ouiittiun of tnaking the luau ~:ccutcd by this Mungaga. Bon.•~srr shall pa;. <.hc premuuu, seywreJ to n.aintam wch
<br />'insurance in effect umil such ume an the rvyuitru+ent for ,uch msu, anvc i~~; tv: n.,tes u: .,_..o;dancc with Borrow cc's and
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