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<br />BI-- U01704
<br />Uxttsoax~t Covt;xsxrs. Borrower and Lender covenant and agree as follows:
<br />L PtsymtBt of Ptrtne~! wad lattvxst. Borrawer shall promptly pay when due the principal of and interest an the
<br />indebtedness evidenced by ihw Note, prepayrttent and Sate charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. Fit for Titres attd Ismueaace. Subject to applicable law ur to a written waiver by I-ender. Borrawer shall pay
<br />to I~nt'.xr on the day titonthly installments of prnncipal and interest are payable ender the !vote, until the Nate is paid in futL
<br />a ~~ `st'R.r~ : "Fru,~"1 e~ttat m arrt:°•wlfilt of the vwarl5 taxes and assessments which niay attain priority over this
<br />?vf¢srtgage, and grottrtd rents on the Property. ifi any. plus rne-twelfth of costly premium instaitmerts for hazard insurance.
<br />phu otu•-twelftfi of yearly pitmrium installments for mortgage insurance, tf any. all as reasonably estimated initially and from
<br />time to time by Lender oQ the basis of assessments and bills and rcasonabte estimates thereof.
<br />Tlw Ftutds shit be hefd in an institution the deposits ar ace-aunts of which are insured ar guaranteed by a Feder;ri or
<br />state agenc}• f including Lender if Lender rs stn;h an insUtutian )- lender shat! apply the Funds to pay said taxes, assessments.
<br />inarrr2nf"~' p*tmiutm atoll ground ret•.ts. Lender m.ay no± charge far sa holding and applying [he Funds. analyzing said account,
<br />or verifying arxt coml»ling said assessments and blis, unfess Lender pays Borrower interest on the Funds and applicable law
<br />pt'rmifa under [o make sucPt a charge. &:rrawer and Lender may agree in writing at the time of uecution of this
<br />1Ntutgage that interest an the Fonds shalt he paid to Borrawer, and unless such agreement is made or app!tcable law
<br />requires such interest to be paid, Lender shall not i+e requtrtd ±a pap Borrower any interest or warnings on the Funds. [xnder
<br />shall give to Borrower, without :hargc~ an annual :euattnnng of the Funds showing credits and debits to the Funds and rite
<br />pttrpase for which each debts tv the Funds was mach. lltt Funds are pledged as additional security for the sums secured
<br />try ibis ;vttirtgage.
<br />if the amount a€ t`ce Fund; fmtd try Lender. t,-.q-eEher s:zt6 r`te future marthfy installments of Funds payable prior to
<br />the dtte dates of lazes, assessmenu, ittsurat•.ce prem;urns and ground mats. sbali exceed the attroernt required to pay said taxes,
<br />t:asCafitienfs. insurance premiums and ground rents as they tall due, such excess shall ix, aE Borrowers option, either
<br />proeaptiy repaid to Borrower ar credited to Beumwer can mvnthiy :nstaiiments of Funds. If the amount of the Funds
<br />itebd by Lender shall not be sufficient to pay taxes. assessments, imurarce premtums and ground rents as they fall due.
<br />Borrower shall pay to Lender any amount tttcescan to make t.p the deficiency within 3i) days from the date notice is mailed
<br />by Ltmler is Borrowu requesting payment thereof
<br />Llpon payment to full of ail sums secured hs ttt:s tortgage Lender shalt promptly refund ro Borrower any Funds
<br />field by Lender. If under paragraph 14 hereof the Pnsptnv ,s grid srr the Prapem is otherwise acquired by i.ender, Lender
<br />shall apply, no later lbws immediatefy pear t.r the +ak „f she Praprsty or its acqutsitton by Lender, any Funds held 6}•
<br />E.ender ai the tint of application as a credit against iht sums secured h; the.. tfartgage.
<br />3. App~at}oa of Payments. Unle~~x applicable law pmvrdts otherwise. wit paytrtents received by Lender under the
<br />*lotc and paragraph: 3 and Z htrcof shaft be appired by Under fir+t in payment nt amour?t% payable to Lender by Borrower
<br />under paragraph 2 htrcof, thta to interest payable cn the vote. they. n> the pnnctpai of the Nate, and then to interest and
<br />pnttctpal an any Future Advances.
<br />4. Chvgea; fltss. Bvrrowwr shalt pay sli texes..tssessmenrs and +,thc: charges. fines and empsxitians attrthutable to
<br />'the Propetty which may auxin a pnority aver rhos 1lartgage. and teasehatd payments .u grouetd rents. if wry, in the manner
<br />provi~± d +~der pat~raph 2 hermf or. if n<s4 paid :n such manner, by Borrower making payment. when dot, directly to the
<br />payee thereof. Borrawer shall promptly furnish tv !.ender aid nauccs ,ri amounts due undo *.hrs paragraph, and fo the event
<br />8<;,rcx.r ; - ....t psy:rtnt dsect!e~ 13onoucs ~ha?! .. ,omits .,,. ..h t:: Conley recetpts evidencmq such payments.
<br />Borrower shall prampiiy discharge any ;too 'a.-bleb has priority r,ver thn .tortgage: arovided. that Borrawer shall not be
<br />requtrwd to disehstge any such lien N; (c}ng as Borrower st:aii agree i., rr.n4 '. the payment ui the ahligation secured by
<br />such 3ietr in a manrwr areptabie tv t.tn~r..rr alts!! is gcxvi tauh s~-ntca~s~-ci: iota hs ar dttend enfarctmen! of such lien in,
<br />legal pracealtngs w•h:ch operate to prevent :he enforcement of tRe :cn :v fa ,eta.., d=f the Propcrts° yr say part thereof.
<br />5. IlEaast'd laxataace. Barravver shaft keep €he :mpraecmerts ^v~n exzsung «* htrtafter erected on the Property tnxured
<br />against [ass by fire. hazards iociuded within the terry -'cxttndtd :;overage-. and s;i,:h other hazards as I.enuer may rcqutrc
<br />attd in such amounts arts; tar sue:. perads as Lender may :equtse. ; rz.tded. that Lender shad not mqutrc that the amount of
<br />such coverage ueetd that amnt:nt .~f c,.~veragc reyu.red t pay the ~~~m. ,ccurcd by ~ha titortgage
<br />The €asttranct cartier prvvrding rite mxurance shall she :i;usea by Ile*rrc+wer sutateex to approval by 1-ender: prmided.
<br />Ehat stab approval shalt trot tx unreasa*nab3v w•rthtuid .i!I ; rcrtntms „r•. insurance pvttcres shall he paid in ttit manner
<br />providaf ukeder paragraph Z hereof ar. it rxst paid .n such snatancr. i+s Elixr:_;wer making payment. when due, direnly to the
<br />insurance t•arrier.
<br />Ail iasurarr~ ponetes sad rtttew air tt-xres~r shat' ~,z in i:r n s~ zC~tahie t., l e:s,itr a;av s:tat, ; ° t;de a standard mortgage
<br />clattst an favor of and as form ucxptahk !;? !.ender Lender .hat! tease trx right to i:otd the paitcies end renewals therooi.
<br />anti 13tsrrowv shall Oratrtatly t~iratsh to Lender ail renewal ncucce and ail mctipts vt paid premtums to rite event of loss.
<br />Borrower shat[ gyve prompt nonce n* :ac rltsurarce curves attd Leader l ender may make prcxrt of toss if not made pmmptiv
<br />by 8orrcnrtr_
<br />Laltw Linder and Bnrrvwcr athtrwisc agree :a waling, msurancx proceeds shall be applxd to restoration ur repair of
<br />die Property damaged, provided such rettorattun yr repair -s es:~~nxntcaity teastble and the security of thn Mortgage is
<br />trot thereby imparted. if stub restarat,cn .:r mpazr ~s not ciona*m:iaif}~ teasrbie nr .t the security of tFtts Mortgage would
<br />be tt'~sued, the insuranxe proceeds ;half tae appired tar the sums secured by the Morgage, with the excess, if any, pard
<br />to Borrower tf tFu Property is abandoned hs Bc3rrnwer. cr ,t tsarrnwet fain to respond to Lender within 30 days from the
<br />elate ttoricr is marled by L.erulcr to Baroxru that ttte utsutancc .arrer ut?crs to avail a claim for insurance benefits. Lender
<br />is autlronzed tv coliwct and apply the insurance prncetds at Lender s opaton earlier to testarauon or repair of the Property
<br />or to fix 'attars stcur~ by tlrrs Mortgage.
<br />tJttlexs finder attd Borrower sttherwtse agate 3n wrrung. am such application s~f procteds tv princrpal shaft not extend
<br />ar ptvttptme the dot dart of ilte rttanihly mstailments rtftrmd to m paragraphs 3 and Z hutaf ar change the amount of
<br />such itntallititats. !f u~r ttragraph 18 hereof tF.t P*aptns- is acctuuxd try Sxsxier, ail right, tttlt and interest of Borrawer
<br />in and to any ittsrrraact poticxs wad in and to the prtxeeds thereof resulsrng Scam damage to tbt Property pnor to the sale
<br />or segttisiiaua shall ptsss to l.todtr tv the extent of the sums secured hs this Mortgage im_.aediatefy pnor tv such sate or
<br />6. PwaseraYaat wad Naiaseaaace of Property; l..easettelds: Coadotaittiaats: Plaatstd 4tntt Dereiapmeau. Borrower
<br />tttaH k&ap the Prtgstrty is good repair and shall not commit waste ar permit ,mpairmertt or detariaratton of the Property
<br />atsd shall cosnpfy with ttx provisxxn of any itase tf t!iit. Mvrtgagt =< art a kasenald. ti this Mortgage is on a unit in a
<br />rcadosninrrtm oc a plaaned cart developxtrerrt, Bosratver shah perfo:'m all of Borrower's vblrgatiorts under the declaration
<br />es ce+mnanis creating or g+avumnit ttre caridontmrum yr pfanrcd ;i.iit devtiopment the by-laws attd regulations of the
<br />ctiatnitstm w planned cwt develvpmcrrt, artd constituent documents if a candvmmium or piannetf unit dcvtlopmeut
<br />teat! n eatmctrtted by 13ortawar and reeortitd togstlter with this Marigage, the covenants and agreerttcnts of such ndet
<br />tom. its tarorporaud into a~ shall amwttd and supptterrtent the cavcnanis and agreemcros tat rhos ;tfortgagt as rf tiw rider
<br />wars a part leertof.
<br />T. PwYat~aw all leka8ss's ;~ If 1#orrtxwtr faits to perform the covenants sad agreements contained in this
<br />;~, sr d way k~u~ rr iwsg rs comtnexrcc,i arn;cat mattrialiy ad~ks Letsder's inurest in, lire Property.
<br />~, bur slot laamta3 us, etritntnr domain, insolvency. code enfnrcwment, ar arrangements ar ~pnxeedfngs tnvolvmg a
<br />hatefttttpt ar dratsdsnt, thtn Leader at L.end©r's apuan, open txtice to Borrower, may make such appearan+ros, disburse stub
<br />swans atad take tweit tsctic>Ia ax tt ttetasasr; to protect i.,ttstkrs intertest. tttcltiding, bus last limited to, drsfwtsemmnt of
<br />atyekaa±rs Hates wad ttrrry upon flu Pmptrty to make reparrv tf I_ettder rcquirtd rnartgagetnsurancc a=_ a
<br />of ttsakta~ the aar:rustt3 by tlra Mrwtgaytw. tamer stroll pay rise prtznur»s retirtited to maintain rocky
<br />le tit taut ttax as tlta rez}uirwreearrt for such msurancr terminates to aecnrdatsct with Bartawais acrd
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