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<br />~~---~0 P058
<br />Uromaaa/ Cover[,srtrs. Harrower and Linder covenas taut agree as follows:
<br />I. K Ptfadpd sad latereat. Borrower shall promptly pay when due the principal of and interest on the
<br />irdehttdaps eiitleatxd [iy the Nate, prepayment and late charges as previdtd in the Note, and the principal of and intetsat
<br />~ say Future Advuttts stcured by this Mortgages
<br />i Faoait for Tames aai Iasarttace. Subjxt to applicablt law or to a written waiver by Lender, Borrowtr shall PaY
<br />to Leader oa the day mmtttty intaBmmts of principal and interest are payable under the Note, until the Note is paid is full,
<br />(he_ttrea "F~") tqua! itt one-tweir@t of the yeesly texts and assn_ments which may attain priority over this
<br />h4ort, salt grassd mats on tiro Property, if asty, plus orto-twelfth of yearly prensiiua installmtnts far 6arrrd iastsraact,
<br />plus oao-tweitth of yearly psxmium intaltinenfs for mortgage insurance, if any, all as reasonsbty estimated initially and froth
<br />tiiftm to titpG by I.i:ader on ode basis of asssssmmts and bills and reasonable eatimatts theteaF.
<br />The Ftttxls shall be title! in an institution the dtpasits or accounts of which are imureci or guaranteed by a Fedonl or
<br />state agency (i»elttding Tender if bender is such an imtimiion). Ltttder shall apply the Funds to pay said'taxes, ttsseutrreab,
<br />irnttrsnee preminats and ground rents. Linder may rrot charge for so holding and applying the Foods, analyzing acid settttuat,
<br />ar verityitsg sadcaapiliag said assesstnmb and bills, unless fender pays Borrower intent on the Ftmds and applicable law
<br />ptrtnita Lender m mom such a charge. Borrower and Leader may agree is writing at the time of execution of this
<br />Mortgage that iatemt on the Funds shat! be paid to Borrower, and udess such agreement is made or applicable law
<br />r'e4air'es atrr3t interest to be paid; Linder shatl na be required to pay Borrower any interest or earnings an tits Fuada. Letsder
<br />shalt grvt ro B;^-.awer, without charge, an annual accounting of tlx Funds showing credits and debiu to the Funds and ttlE
<br />prtrpose for which each debit to the Funds was made. The Funds are pledged as additional security for the soma rtecur~
<br />by this Mortgage.
<br />if the aatount of the Fonda Geld by Lender, together with the furore monthly installments of Funds payable prior to
<br />the due dittos of taxes, assessmerrb, ittsuraace premiums and grotmd roots. shalt exceed the amount required to pay said teats,
<br />apeattmtttb, inuurance premiums and ground ants as they fall due, such excess shalt be, at Borrowers option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly irtstatlmenu of Funds. If the amount of the Funds
<br />held blt Lender shall not be stifficimt to pay taxes, asmssments, insurance premiums and ground rents as they fall due,
<br />Borrower shat pay to Lender any amount ntctssary to make up the deficiency within 30 days from the date notice is mailed
<br />by Linder to Borrower re9ueatin8 payrrtmt thereof.
<br />Upm paymem in full of all sums socured by this Mortgage. (ender shaft prampdy refund to Borrower any Furtds
<br />held by Lender. If ut~tr paragraph 18 hertof the Property is sold or the Property is aherwix acquired by Lender, Linder
<br />shat! apply, rto later than immtdiatdy prior to the sale of the Property or its acquisition by Linder, any Funds held by
<br />Leader u the tiate of application as a credit against the sums secured by this Mortgage.
<br />3. AppYeatisa of t'ayateaat. Unless applicable law provides otherwise, alt payments received 6y Lender under the
<br />Note sod paragnpbs 1 a~ 2 hereof shall be applied by Lender first in paymtnt of amounts payable to Lender by Borrower
<br />under paragraph 2 lxreaf, then to interest payable on the Nott, thin to the principal of the Note, and then to interest and
<br />principal oa any Future Advances.
<br />{. C~ LJeas. Borrower shall pay alt saxes, assessments and other charges, fines and impositions attributable to
<br />the property which tnsy attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the maa>ter
<br />provided uadtr paragtaptt 2 hereof or, if not paid in such manner. by Borrower making payment, whin due, directly to the
<br />payee thereof. Borrowtr shall promptly furnish to Linder alt nouizs of amounts due under this paragraph, and in the event
<br />Borrower alts!! make paytaent directfp. Bortawer shall prampdy furnish to Lender receipts evidencing such payments.
<br />Harrower shall promptly discharge any Lien which has prtortry Hutt this Mortgage: provided. that Borrower shall not rte
<br />t~ttired to discharge any aeuh litre so Fong as Brarsowtr shat! agree in writing to the payment of the obligation secured Icy
<br />such ilea in a maaau uxtptable to Lmaer, or sha)1 ;rt gaud €aith contest such iitn by, or .ieftrtd enforcement of such lien in,
<br />legal proceedings which [operate to prevent the enforcement of the i,en or torfeuurt of the Property or any part thereof.
<br />3. B9aatd Ias~asee. Borrower steal! keep the improvements now extsang or hereafter erected on the Property insured
<br />tt;stall tau Fly bit, aszirds inefuded wititm [he term "extended coverage' . and such other hazards as Lender may require
<br />and is such amounts and for srtch penttds as Lettdu may rtqutre; provitiesi, that Lender shatf not require that the amourti of
<br />s[Klt coverage exceed the[ amount of co~crage required to pay tht wins secured by this Mortgage.
<br />Thin iawraoce terrier providing the insurance shalt 6e chosen by Borrower subject to approval by Lender, provided,
<br />that such approval sbaB not be unrissonabty withheld. Ail premiums on insurance policies shalt be paid in the manner
<br />ptarvidad trader paragraph 2 hertrtf tor, tf rttn pasd to such mtutaer, bi liarrowcr making paytrtert, whin dote, directly to the
<br />iasuraaca carrier.
<br />All irtattnaee policies sad reaewak thereof shalt be to farm acceptable to tinder and shall include a standard mortgage
<br />clstae in favor of slid in farm acxptaMe to Lcndtr. Limier shalt haul the right to hold the policies and renewals thereof,
<br />sad 1Botrower shall promp[}y furnish to L.ettder alt rentwa! notices and a!I receipts of paid premiums. In the event of loss,
<br />Ilortosser shell give prompt naive :o the insurance Gamer sad Lender. Lender may make proof of loss if not made promptly
<br />by ~orroatEr.
<br />Ualmt Laxier and Borrower otherwise agree in writing, insurancx pracexds shalt be applied to restoration or repair of
<br />tlx proptrry damaged, provided such reseorstioa or repair is ecanomicatly ftasihie and the security of this Mortgage is
<br />rxtt thtneby impaired. I[ sttc6 restoration or repair u not rcottamically feasible or if the security of this Mortgage would
<br />be impaired, the insurance proceeds shalt be applied to the sums secured by this Mortgage, with the excess, if any, paid
<br />to Borrower. If tip Property is abandoned by Borrower. or ,f Borrower fails to rppond to Lander within 30 days from the
<br />dtstc tsotiae is mailed by Linder [o Borrower char the inwrana carrier offers to xnle , ctaim for insurance ltenefits, Lender
<br />i6 aWhoriaed to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
<br />or to the tarots secutad by thin Mortgttgc.
<br />U~ Ltndtr slid Borrower athenvise agree in writing, any such application of proceeds to principa[ shall not extend
<br />of potaparte the due date of tine monthly ittsta)hntots refereed to in paragraphs .and 2 hereof or change the amount of
<br />sstb iastalimeao. !f utadtr patttgsaph ! g hereof the Propettv is acqutted by Linder, alt right, title and interest of Borrower
<br />is sad to say insurance polican and in and to the proceeds thereof resuitiag from damage to the Property prior to the sate
<br />or stxgtt~itioo shall pass to Leader to the extent of the sutra stxured by this Mortgage immediately prior to such sale ar
<br />6. plsrasrrtMiaa sat Afat~tNestasK of properly; Leaackold~ Coadomialu®s; plantsed Unit Devtdoptstests. Borrower
<br />ethaB ~ the property in good repair and shsB ,mi commit waste ar permit impairment or deterio:anon of the Property
<br />tad shag t~ply with the provision of shy !case if this Mottgage is on a leasehold. if this Mortgage is on a unit in a
<br />to~aistm or a ptanaed trrtit development, Borrower shalt perform all of Borrower's obligations ostler the declaration
<br />or eaiveoaaia txeatiag or gavarning the condominium or ptannai unit development, the by-laws and regulations of the
<br />eossdomisitan cx plseaed trait d;eveiopmsn4 and carutituent d~uments. I[ a condominium ar pisntted omit dtveiapment
<br />rides is ettesaed 49' Borrower and ieCardad Fogetttu with this Mortgage„ the covenants acrd agrcements uE such rider
<br />shaglta iaatrpottaad iMO and shalt amend sad suppierrgat the t~veaanu sad agreements of this Mortgage as if the rider
<br />vests a psiti ls.
<br />T. e4 iLaatwh 5atwfty. If Borrower fails so perform the covenants and agreements can[aitxd in [his
<br />M av if say aslion or protaadiag is cammeaced which mtuteialty atFects l.mder's interest in the Property,
<br />~, 4rt floc tizo+ted tor, ranitte[st dtattafn, insdvtncy, code tnfotx:cmtnt, or arnngerttents or proceedings ,mowing a
<br />or dot, tbea t.estder at Ltd"s option, uptm rtaitx to Bctrrowtr, rnav make su..h appearances, disburse such
<br />uatAa atld; titian as is tsac~sary to ptxtteci itnder's interest, r[xluding. buE haul limited to, disbursement of
<br />tnaftritt attorasty's fees sad entry open the Property to make repairs. if Lenrkr required mortgage insurance as a
<br />ceaM3Ni0at of taahigg tlsa loss aa¢tued try this Mactgage, &rrrowcr shall pay rite premiums required to maintain such
<br />iaataattsse M aIl"act troll! such t~sa as tbo reyuitetua[r[ far such ittsuraaee tarmina[es to accordatxe wuh Barrr+wers and
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