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<br />gl. OQ1.96G
<br />UNIFORM Covarrertrs. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Ptineipd a~ Interest. Borrower shah 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. Fntids for 7'asea and Ir[earance. Subject to applicable )aw ar to a wr.:tcn waiver bq Leader, Harrower shall pay
<br />to Under on the day rtronthty installments of principal and interest are payable under the Note, until the Note is paid in fulh
<br />a sitm [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 Propetty, if any, plus one-twelfth of yearly premium installments forhazard insurance.
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />dine to Gme by Lender on the basis of assessments and hills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an institution ). Lender shalt apply the Funds to pay said taxes, assessments.
<br />insurance premiums and ground rent. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verif}~ng and compiling said assessments and bills, unless Lender pays Borrower interest nn the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution- of this
<br />Mortgage that interest on the Funds shall be paid ro Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Ixnder shall not he required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give [o Borrower, without charge, an annual acrnunting of the Funds 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 3lortgage.
<br />If [he amount of the Funds held by Lender. together 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 taxes,
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrowers option, either
<br />promptly repaid to Borrower or crrsiited to Borrower on monthly mstailments 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 fall due.
<br />Borrower shall pay to Lender any amount necessary to make up the defitiency 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 thts Mortgage. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under pazagraph IS hereof the Property is sold or the Property rs otherwise acquired try Lender, Lender
<br />shalt apply, no later than immediately prior to the sale of the Property or its acquisition by Lender. any Funds held by
<br />Lender at the time of application as a credit agatnst the sums secured by thts Mortgage.
<br />3. Applisatinn of Payments. Unless applicable law provides otherwise, all payments received by under under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lender first m payment of amounts payable to Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the tiote, then to the princtpal of the~Nete- and then to interest and
<br />principal on any Future Advances,
<br />4. Charges; Liens. Borrower shall pay ail taxes. assessments and other charges, tines and :mposinons attributable to
<br />the Property which may attain a priority over this Mortgage. and leasehold payments or ground rents. if any, in the manner
<br />provided tinder paragraph 2 hereof or.:f nut pa[d m such manner, try Borrower making payment, when due, directly to the
<br />payce thereof. Borrower shall promptly furnish to Lender all nouccs of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly. Borrower shall promptly iumtsh to Lender receipts evtdenang such payments.
<br />Borrower shall promptly discharge any lien +chtch has prrarny over this Mortgage: prov+ded, that Borrower shall not be
<br />requited to discharge any such lien so long .u Borrower ,hall agree in wrung to the payment of the obitgatioa secured by
<br />such lien in a manner acceptable to Lender. err ,hail m good :acts contest such lien hv, of defend enforcement of such lien in,
<br />legal peoceedings which operate to prevem the entorcement of the hen or tnnerture of the Property or any part thereof.
<br />5. 1Hazard Insareace. Bortower shall troop the :mprcvements rou cxsnng or hereafter erected en the Ymperry insured
<br />against loss by fire. hazards included wvthur the term "extended coverage", and such other hazards as Lcnder may regmre
<br />~d :n such a......... ^d far s,Y_h „Pr,,,ds ~. i _•n,i•r , _ ~mvrded, that [_ender shall not reywre that the amount of
<br />such coverage exceedWihat amount of ::overage reyu+redsta payrthe sums secured by this Mongage-
<br />The insurance tamer pro.iding the insurance shat! be chosen by Borrower subject to approval by (.ender. provrded,
<br />that such appreva! shah net iz unrcasanably withheld. .\I! premiums on insurance p olicte= +hall t,e paid !n the manner
<br />provided under paragraph 2 hereof ur, a not paid rn ,uch manner, by Borrower making payment, when due, directly to the
<br />instuance carrier.
<br />AB insurance rrolictes and renewals thereat shall nc :tr torn :rcceptable to [xncter and shat! :nciude -~, standard moil gage
<br />clause in [aver of and m form acceptable to lxndtr. i.endet shall have the right to held the paliues and renewals thereof.
<br />and Borrower shah promptly fiunsh u. Lender aEI renewal notices and ail receipts a[ paid premwms In the event of lass,
<br />Borrower shat! eve prumtx nonce m the insurance earner and Lcnder. Lender may matte proof of loss st not made promptly
<br />by Borrower.
<br />Unless Lender and Borrower atherwtse agree at wrung, inwrance proceeds shall tx applied to resturatton or repair nt
<br />the Property dsmyged, provided wch rcstareuon of repx+r a ecunomrcally feasible and [he security of rhos Mortgage :s
<br />not thereby impasred. If such reatotanan ur repair a roll econamtcalty feasible or rf she secants' cf this Mortgage would
<br />oe impaued, the msurarx~e proceeds shun t+e applied to the sums secured by this 'Mortgage. with the execs, if any, paid
<br />to Borrower. if the Property !s ahando-rtexi M Bvrr~wer. o; rt Borrower tads to respond to Lender wrthm 3U days tram t!te
<br />date notice is marled by Ixnder to Borrower that :he trsurance earner +rtfers to settle a claim far ursurance txnefits, Ixnder
<br />is authorized to collect and apply rIx. rnsutanee proceeds at Lender's apusrn either to restarauon or repau of the Property
<br />ar to tits sortie secured by this Mortgage
<br />Unless Lender and 8orcuwer atherwtsc agree ,n oaring, any such application of proceeds to principal shall net extend
<br />or ptxtpone the due date of the monthly installments referred to +r, paragraphs l and 'hereof or change the amount of
<br />stub msiallments. tf under paragraph a3 hereof the Property rs acywred by Lender, all right, nUe and interest of Borrower
<br />in acid to atey msurarrc:e policies and in and to the proceeds thereoS resuhmg ,`rom damage to tbe Property prior to the ante
<br />ar atyuisitian shark peas to Lender to the extent of the sums secured by the Mortgage immediately prior to such sale or
<br />acgttitution.
<br />6. Preaervatiew rqd IH•aiateasace of Property; I.easeM.ids; Coadoaiiniams; Phnoed Uaif Dtreletpmears. Borrower
<br />shall keep the Property in good repair and shall nw commit wash ur permit :mpaument or elsteriaration of the Property
<br />and shall comply with the prowsu>ns of an} ieax d this Martgagc n on a hasehold. If this Mortgage is on a unit in :r
<br />tro[tdpntinrum nr a planned um! development, Borrower shat! periurm ail at Borrower's ob)igatians under the declarattan
<br />ar covenants creating or gavermng the candamrmum ur plantsed umt development, the by-laws and regulations ai the
<br />eandominiunt or plantxd nail deveiaprnent, attd amsuatem +iocumems. ft a condaninium or planned unit development
<br />ritlsr is sxst:uted try Harrower and retarded together with this Mortgage, !fie covenants and agreements ai such rider
<br />she[( hC irteorporatsd into and shalt arrrend end supplenxnt tlx covenants and agreements of this Mortgage as rt rite rider
<br />ware a part ttereaf,
<br />~: Pts~r:titrst sfi LeaAer's Seerrit7. if Borrower tarts to periorne the covenams and agrecrrxots ontarned en this
<br />sforigagc, ar if apy actrort stir pro,ruliteg rs uamnienced whtcit ntaterialty affects [xrtder's tmereat in the Property,
<br />rnsltsdi3tg, but not limited ta, emtnem domain, ,nsalvency. elide entarcetmnt, ar arrangements at pntcesdings involving a
<br />laankgupt rx dosderet, then L.srrder ai txncisr's apkcur, upon rroticx ice Borrower. ma} male stub appearances, drahurse s[tch
<br />s a~ take ~tcli aetitxr as to rrecessary to ptotrs.t i.,errdsr's +nterest, incirxliog, but trot limiisd sa d,sburtsment tit
<br />ssatwnahk attataoy`s tarar and entry tipun rho Property to male repairs. It Ixnder rcquircd mortgage invurancr as a
<br />crtrrdtttpn ul [nakatts t~ loan ssrc:arrad ls} tins Martgags, Borrower shall pay the premiums rcquered to mainWrn such
<br />iaWraaCtes in Ct~tprt unui such tilrts as fix rtyuitstncn[ lot ,itch insurance termusatea .n acarrdattct with Barntwcrs and
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