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UrtttotM CovExxtass. Borrower and Lender covenant and agree as follows:
<br />1. Paymeaf a( lrOrc~tal ctrl interest. &irrowee shalt promptly pay when due the principal of and interest un the
<br />indttttedneaa evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and inteteat
<br />oa aay Future Advances secured by this Mortgage.
<br />8 FtWs fry Tatra art ice. Subject to applicable law or to a written waiver by f.cnt%-,r, Borrower shag pay
<br />to Rader a6 flee day ntoaahty instalttnents of principal and interest are payable under the Note, unrii the Note is paid fn full.
<br />a sma (hetrin "Funcb"7 equal to one-[welf.}t of the yearly taxes and assessments which may attain priority over this
<br />1Nat. a!~! gt[ =a*s a° t,~ Pr~pr :y. if ay, plus u.~~w•tifih of yearly premium it>atallmt;aU fcr hazard insu.~tt:.c.
<br />phtt one-tarslfth of yeasty premium fastailmert[a for moRgage insurance, i f any, al! as reasonably estfmattd initially and from
<br />iitaa to tittle by Leads oa the basis of assessments and bills and reasonable estimetts thereof.
<br />'The Futeda shah be held in an institusion the deposits or accounts of which arc insured or guaranteed by a Federal or
<br />state a;ettcy {incttMiag Leander if Lettdex is such an ittstitatitm). Leader shat! apply the Fonds to pay said tares, assesmenta,
<br />inaaraace premftmes and ground rents. Lender may not charge for so holding aad applying the Funds, antilyzfng said account,
<br />ar vertfyiag tad compiling said aestsstreeats and bilta, antes Leader pays Borrower iniei~est oa the-Funds aad applicable-law
<br />pvatita Leader to make Stich a charge. Borrower and Lender may agree in writing at the time. of execution of this
<br />Mortgage that fnterest on the Funds shall be paid to Borrower, ant! utiltss such agreemen[ is made or applicable law
<br />rmquires sveh inteaxst to lx paid, Leader shall nut be required to pay Borrower any interest or earnings on the Funds. Lender
<br />sitatl give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds aad the
<br />pttrpoat for which each titbit [o the Funds was made. 'tree Funds are pledged as additional security for the sums secured
<br />by this Mortgage.
<br />If the ataati.= of the Funds: held by Lender, tog5thes 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 taxm;
<br />aaa2iRttteti, ittsuraace prtmiittms aad ground rents as they fail due. such excess shall be, at Borrowers option, either
<br />ptvmptly tepa~ to Borrower or credited m Borrower on monthly installments of Funds. If the amount of the Furede
<br />held by Lender shall trot be ste~t:aeat to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower ahaU pay to Leger nay amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Leader to Borrower regtteatiag payment thereof.
<br />Upon payment in full of all sums secured by this Mor[gage. Lender shall promptly refund to Borrower nay Funds
<br />held by tender. If u»tier paragraph 18 hereof the Property is sold ur the Propenv is otherwise acquired by Lender, Lender
<br />shall apply, no later than irnratedutefy poor [u the sale of the Propetty or its acquisition by i.ender, nay Funds held by
<br />Corder at the titae of appficatioa as a credit against the sums set;ured 6y this Mortgage.
<br />3. Appi'ietrioa d ]?symerb. Unless applicable law provides otherwise. all payments received by Lender under the
<br />Note aced prra;tspbs i neat 2 het~tof shelf be applied by Lender first m payment of amoums payable to Lender by Borrower
<br />under ptusgeaph 2 hetwf, thee to interest payable on the Note, then to the principal of the Note, aad then io interest and
<br />principal oo any Futtue Advances.
<br />4. ~K Lora. Borrower shall pay afI raze;, assessments and other charges, fines and impositions attribuYabie to
<br />flee Property which cony attain a pnoriiy aver this Mortgage, and leasehold payments or ground rents. if any, in the manner
<br />provided under paragraph 2 hereof or. if not peed in sash manner. by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shall promptly futmsh to Lender all notices of amounts due under this paragraph, aad in the event
<br />Borrower shall make payment dtrectl}S Borrower shall promptly famish to Lender receipts evidencing such payments.
<br />Borrower sfsai[ promptly discharge any teen trhich has pnoruy uvCr this Mortgage: provded, that Borrower shall oat bt
<br />requfred to discharge any such lien so lotsg as tlurrower shall agree in wnnng to the payment of the obligation secured by
<br />stash lien in a manritr acceptable m Lender, ar shall in good faith cantrst such lien hy. or defend 2nforeement of such lien in,
<br />itgai proceedings which operate to prevent the enforcement cf the Iron ar turfetture of the Proptrty or any part thereof.
<br />3. ~ tee 13ot*uwer shelf kip the tmpro.°emer•.ts now cnisitng nr t:ercafter erected tin the Property ensured
<br />agtt:iost loss by fire, hazards included wtthin the term "extended coverage". and such other hazards as Lender may reyuire
<br />grid is such atnaunts and for such periods as Lender pray reyuire, prctvtded. that t_rnder shall not require that the amount of
<br />stech caveratgt txcced that amount of coverage required to pay the utms secured ny this Mortgage.
<br />lltt imuraotx tamer providing the insurance shall be chosen by Burrower subjec[ to approval by Lender, provided,
<br />that such approtai shaft not ht unreasunabiy withheld, ?ill prrmmtns tin insuance poiictes shall be paid in the manner
<br />provided uettkr paragraph 2 hereof or. tf not paid in such manner, by Borrower malting payment, when due. directly to the
<br />itfatl8aee CJilltr.
<br />AB itistttsence policies aad renewers thereof shall tse in form acceptable to Lender and shall include a stand`erd mongagt
<br />clause in favor of eau is form acceptable to tender. Lrnetr shat) have the nght to hold the pohctes and renewals thereof,
<br />aad Bnrtower shag popmpdy furnish to Lender all renewal notices and ail rrcetpts of paid premiums. In the event of loss,
<br />Borrrnwer shalt give prompt aatice to the itsurance canter and Lender. Lender may make praut of loss tf oat made promptly
<br />by Hormwtr.
<br />Utalew Ltatfer aad Borrower otherwise agree in writing, msuranca prucerds shat he applied to restoration or repair of
<br />the Proptsty d<-~.!, provtded xuch restorstsc:n or rrpatr is r;.eanmr~a;f; i.asc'ale urd th. sreu:tty of this l4lortgage is
<br />tioF tlmrehy impaired. If such restatattun or repair is not eso:tam:caily is'astbie ar ~t rite secunty of ±his Mortgage would
<br />bt impaired, the iusuraotx proceeds shall be applied to the sums secured b~. th:s Mortgage, with the excess, if any. paid
<br />as Borrower. If the Property is abandanui icy Borrower. or tt Borrower tags to respond to Lender wtthin 30 days from the
<br />date aOtitY is mailed by Leader to $armwer that the :nsurancx canons ++tters to settle ;: ciatm fur tnsurartce ltetrefits, Lender
<br />is authorized to collect aad apply the msurancY proceeds at Lender's epuen etcher to restoratan ur repair of the Property
<br />ur eo t~ Staten se+;uted by this Mortgage,
<br />Unless Lender aced Borrower otherwise agree in writing, any such appiicanon of proceeds to pane:pal shall not extend
<br />or postpone the due daft of the monthly instalitrients ;rferred t+~ in paragraphs I and ~ hereof or change the amount of
<br />catch ittatatitetonts. !f orate paragraph ig heteuf the Property vs acyutred try l.xtxler, ail right, title artd interest of Borrower
<br />is and to any itrseuattu policies aad in and to the proceeds thereat resulting From damage to the Property prior to the sale
<br />tX acgtaisitioa shalt pass to Ltttder to the esteat o[ the sums secured hj this :~lurtgage tmmedia[ely poor to such sale or
<br />~• ,
<br />1. Ftaamvalaq a~ °ittt~teaasrt of Property; 4easefattils; t'aadostiniuras; Pleased Bail I>evelopaieats. Borrower
<br />shalt ksgt the Property in good repair and shall oat catlkmit waste ar permit impairment or detrriaratian of the Fropaty
<br />oral ahali comply with elm peoviatona of any lease if this Aortgage is on a leasehold. IE chi, Mortgage is on a unit in a
<br />ctmdtammierm ae a planned emit develapmtnt Borrower shall preform all of $artower's obhgatiotta under the declaration
<br />or covaamifa cteauttg nr governing the cundanunium ar planned unit development, the by-laws and regulations of the
<br />a ar planned trait dtvtltipmont, and saffititttent doctigtents. f f a cundomutitrm or plettntd unit development
<br />radar ix eascutal by Btatt'awst neat recorded tagetfter with this Mortgage, the [AVtHants aced agreements of such rider
<br />sf~ ba ipria'atxld loco aad; steak aatensl arsd suppf~ment the covenants and agreements of [his Mortgage as if the r'der
<br />asst! a pact 1tCraaf.
<br />7. ls4~aellaa rE l.~s ~• 1f Barruwer fails to prrfurns the cos~etaants amf agresrttents corstaitted in this
<br />a if nay asRioa or prnctatfing >s caasrtcttceYl which maitriaffy affects Lentks s mtertst in the Property,
<br />ioN:hilirg, but teat litnitel ta, eniita¢at dasxeain, itisotvtncy, cads tntumemens, tit arrati;ements or pttsceerfings invo{vin; a
<br />broltrttpl ar dss.adwit, tdao Iattitlar at Lender's optiaa, upon natise ra Borrower, may tttake such appearances, disburve such
<br />soma sIDtd asks. two atx&xi as is naxsaary tit prviect Leer's interest, tra:ftidiog, but oat iimttcti to, dtsbursermait of
<br />t+ppsttmhla attntttty"s Itsea aad tatty apart the Proptdy to ntttke repairs. 11 Lender rtquircd mortgage insurance as a
<br />r. ~ tuslting.lhs ft urr~ by ?his Martg:tils, Bnrravrer shaft pay the premYUms sego:red iu tnafntsin such
<br />ram Ln afftast tstttif t=wvch tuna ><s test rsgaairat~at fix' =rash ,rtt'+~*atsrF terminates :a artotdaace v.-tth Burrrwtr"s attd
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