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Urtttaoaxa Cavew.txTS. Harrowee and Lender covenant and agree as follows: ~ ~ .~ ~ ~' ~ ~'? 1
<br />i. ~ 1 aid interest. $orrower shad promptly pay when due the principal of and interest on the
<br />endr.~tedtiera evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />tni arty PtEUre Advutecs secured by this Morsgage.
<br />~, Encode far 7sras tread 13~tmce. Subject to applicaisk law or to a written waiver by Lender, Botsawu shall pay
<br />is Ltnder an the day rttanthly iastaihretata of psincipat and .interest are payable tinder the Nate, until the Note is paid in full,
<br />a aotm (herein "Ftaeds'") canal to arx-twe3feb ~f the yearly taxes and assessments which may attain priority over this
<br />idurt, seal grotntd-nenta on the Property, if any, plus one-twelfth of yearly premium irtstallatents for hazard ir+suratrce,
<br />pans o~-iwe~rih ai' ytariy pt-atniatn itssialiments for marigage insttrartce, if any, a!i as reawnably es-timafed initially and tram
<br />tirttt to tattre by Lw~ on fire basis of asse$ments acid irilis and reasonable estimates thereof.
<br />'FlstFttnds shelf be hdd in an institution the deposits or accounss of which art itisurtxl of gturanteed by a Federal or
<br />also aggtcv (i~ttediag I_e:der if Ixcuier is such an institution ). Lerttter shall apply the Funds to pay said taxes, aneumems,
<br />itwtiraaee ptxmiums attd grxmtd rents. Lender may not charge for so holding and applying the Ftmds, analyzin;said account,
<br />ar verifying and competing said assessments and bills, unless Lender pays Harrower interest en the Funds and applicable law
<br />permits Lxttder to rtiake stint a charge. Borrower and Lender may agree in writing at the time of ruesution of this
<br />Mortgage that inters[ on the Funds slut[ be paid to Borrower, and unless such agreemem is made or applicable law
<br />ttgttires such interest to Ix paid, L.ettder shall eat be required to pay Borrower any interest or earnings an the Funds. Lender
<br />shall give to Bortotver, wetJfaut chazge, an annual accauming of the Funds showing credits and debits "to the Funds and the
<br />purptrae for which each debit to the Funds was made. The Pontes are pledged as additional security for the sums secured
<br />by this \dottgagt.
<br />ri [tee amount of the Funds held by Lender, together ~~ith the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments. irs<urance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />asertts, irtauratece ptxnrittms and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Barrow-er on monthly instaltments of Funds. If the amount of the Funds
<br />ht#d by Lender shat! net be sted'ieiettt to pay taxes. assessments. insurance premiums and ground renu as they fall due,
<br />Borrower shall pay to Lender any atnouat necessary to make up the deficiency within i0 da}'s from the date notice is mailed
<br />by Lender to Borrower rtgtrsting paynxnt thereof.
<br />Upon payt~ne in full of all sums secured by thts Mortgage. Lender shall promptly refund to Borrower any Funds
<br />ttetd by Lender. If under paragraph I8 hereof the Property is Bald or [he Prapern is otherwise acquired by Lender, Lender
<br />strati apply, tw eater than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Leader at eht time of applicatiari as a credit agarnst the sums ,toured by this 14tongage.
<br />~, Argn of Paymems. Untesx applicable law provides otherwise. aEl payments received by Lender under the
<br />Note attd pazagraphs I and ?hereof shall be applied by Lcndtr first m payment of amounts payable to Lender by Horrower
<br />under paragraph 2 hereof, then to inures[ payable on the Nate, then to the principal of the Note, and them to interest and
<br />principal an arty Future Advances.
<br />4. Ckargas I.le~. Borrower shad pay ale taxes, assessments and other charges, fines and impositions attributable to
<br />the Property which may attain a priority over tins Mortgage, and leasehold payments or ground rents, if any, in the manner
<br />provided tender paragraph 2 herea[ or, if not paid in such manner. by Barmwer making payment, when due, directly to the
<br />pays thttmf. Borrower sliaei promptly furnish to Lander all notices of amounts due under this paragraph, and in the event
<br />Borrower sha8 make payttrem directly, Borrower ,hall promptly fumtsh to Lender receipts evidencing such payments.
<br />8orrowet' shat! promptly discharge any lien which has priority over [his Mortgage: provided, that Borrower shall not 6e
<br />rtequirt8 to discharge airy such teen sa tang as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a manner actxptabie to Lender, ar shall in good faith contest such lien by, or defend enforement of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the Len ar forfeuure of the Properfy or any part thereof.
<br />3. lilfasard Ieewtance. Barrawex shalt krxo the irnprovemenu now txisnng or hereaher trtcted on the Property insured
<br />agaiarai toss by fare, hazards included within the te.~tn "extended coverage .and such other hazards as Lender may require
<br />anti in stx3t amounts and ear stub periods as tender may require: provided, that Lender ,hall not require [hat the amount of
<br />such coverage exceed tbat amount of coverage required to pay the uims ,ccured by thrs Mortgage.
<br />T4x inwranee cattier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided.
<br />cleat aseeh approval shalt not be unreasonably withheld All premiums on insurance policies shall be paid ~n the manner
<br />pravit~af tt~er paragraph 2 her~€ ar, if not paid in such maatttr, by Borrower making payment, when dam, directly to the
<br />insuta>ue carries.
<br />Art iaauranee paiices and renewals lhereaf shall be in form ac:-eptabie to Lender and shall include a standard mortgage
<br />t:l8tett in favor of scat in form acceptable [o Lender. Ltnder shall have the righ! to hold the paiicies and renewals thereof.
<br />and Borrower shall prtitnptly furnish to Lentkr ail rerrewal sauces and all receipts of paid premiums. In the event at lass,
<br />Harrtiiver shat) give prompt rmtice to the insurance carrier :sod [.ender. 1_endtr may make praaf of leas if not made promptly
<br />by Batrawtx.
<br />UnlSaa Leader and Borrower otherwise agree in writing, insurancee proceeds shall be applied to restoration ur repair of
<br />lttt Property datnagt:d, provided such restoratton ur repair is ecanumualiy feasible and the security of this Mortgage is
<br />ntri there'vy impaired. If such rcstoratton or repair is not cconomicaily feasible or if the security of this Mortgage would
<br />be impaired, the itrsuratise proceeds sfiail be applied to the sums secured by [his Mortgage, with the excess, if any. paid
<br />to Harrower. if the Property is aturxiorted ht Btxrawer, ar it Barrawer tails [o respond to Lcndea wtthin 3tf [lays tram the
<br />date notice u mailed by I.entfer to Horrawer that [hc ittsuratice carrier otfers to Bettie a ciatm for msuratece benefits. Lender
<br />is authorized to colt~t and apply the insurame prutxeds at Lert<ttr's option etcher to restoration ar repair of the Property
<br />or to the swies sxtzr~ 6y [iris hiortgad..
<br />Utz I.ettder and Harrower otherwise egret m writing, any such appbcation of proceeds to principal shall not extend
<br />tx postporrt the clue dart of the mtmthty installmems referred to in paragraphs t and' 2 hereof or change the amount of
<br />Bach instaNments. Ti ender paragtaplt t2l tseatoT the Proper[} is acquired by Lender, all right, title and inters[ of Harrower
<br />in attd to any insurance policies acrd in attd to the pnx:erds [hereof resulting f_am damage [o [tie Property prior to the sale
<br />~ aegetisiticiti shall pass to Lender [o the ex[eat of the sums seturrxf r?y tins htartgage immediately prior tp such Bak or
<br />6k Ptexsva6itra a~ ?a8e e:f li'roQerir; (.tsrrbreltist C'ondnsu6siiums; IMtneted Unit L?evt9oyaeats. Borrower
<br />sh~l leap the Properly en goad repair adl shall cwt rnmmit wasu or permit impairment or tkteriotation of the Property
<br />and. attar!! +Y with the provtsions of env lease if this Martgagc cs tin a leasehold. If [his Mortgage is on a unit in a
<br />oandtlmi}tiittn ar a ptateiied twit devekrgteent, Harrower shat! perform sit of Horrowei s obligations under the declazation
<br />ar etsvenarits treatixee ar governing the c,ndomtneum ar planrttd unu development, the by-laws and regulations of the
<br />of planned unit efeweetaptixnt, and coruiituent documents. II a condominium or planned trait development
<br />ritiCr is exettxmd hit Harrower attd recorded together with this Mortgage. th.- covenants and agreements of such rider
<br />xbdl ba ittcotpma~s6 rata and shalt amend and supplement the covenants attd agreetnts of [his Mortgage ax iF the rider
<br />wee a part .
<br />9. lNAas7fa~ d I.adea°s Swerrity. it Harrower fails m perform the covenants amt agreements contained in this
<br />ev if aqy ticYlOSi ar pracettieng iz catnmtritcd whtch materially aHtcts Lender's ilnetest err the Propi:rty.
<br />brit eat limited io, txneaam a#csxiain, insa.':enc}'. crate enfarceirteni. or arr'angemtnis ar prt~dinga involving a
<br />Itarsd[ru@4 os dtxt~+i, tliten L.endet at L.tntler's aptian, upon notice u? Borrower, may make such appearances, dsstwrse such
<br />sty coal taste s+ach actinic as is cssaiy io prcntx[ Lender`s ~nterosr, mcludenga trot no[ trmued ta, disbursttntnt of
<br />rte atttr#'nev's feet axed entry upon the Prrtptrir to mane rtpatrs. If f.etaier required mortgage itnuran< as a
<br />cruet of rsalxueg rh¢ loan sac'uicd by [his Morigag~s, Barrrrwtr shat} pav the premiums requueti to mainta:t: :uch
<br />itwaranet in alhtt tnatil stub senor as the r~uiremene for stole ,rrsurattr.-e terminates to acci?rdattce with Horntwer's and
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