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<br />81... 0021.01
<br />UNIFORM Covarrntvrs. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest. Borrower shall 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 Fuhtre Advances secured by this Mortgage.
<br />2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to bender on the day monthly installments of principal and interest arc payable under the Note, unlit the Note is paid ir. futl,
<br />a sum (herein "Funds") equal to one-twelfth of the yearly taxes and asxessmenu which may attain priority over this
<br />Mortgage, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments far hazard insurance,
<br />plus one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to time by Lender on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be he)d in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lender if I~.nder is such an institution). Lender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and ground rents. Lender may oat charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless Lender pays 6orrowcr interest on 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 Furtds shall be paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not he required tv pay Borrower any interest or carnings.on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose far which each debt! to the Funds was made. The funds arc pledged ^s additional security for the sums secured
<br />by this Mortgage.
<br />If the 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 tarts,
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments 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 deficiency within 30 days from the date notice is mailed
<br />by Leader to Borrower requesting payment thercaf.
<br />Upon payment in full of ai[ sums secured by this hfortgage. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph I S hereof the Property is ,old or the Prvpcrty is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its acyuisition by Lender, any Funds held by
<br />Lender at the time of application as a credit against the sums secured by ihts Mortgage.
<br />3. Application of Payment. Unless applicable !aw provides utltcrwi:c, all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by 1-ender first m payment of amounts payable to Lender by Borrower
<br />under pazagraph 2 hereof, then to interest payable on the ;vo;e, then u> the principal of the No[e, and then to interest and
<br />principal en any Future Advances.
<br />4. Charges; Liens. Borrower shall pay a!I rases, assessments and other charges, fines and impositions a[Libutable [o
<br />the Property which may attain a priority over this Aortgage, and leaseho!il payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or. if not paid in such manner by Borower making payment, when due, directly to the
<br />payee thereof. Borrower shall promptly furnish tv lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment direc[Iv, Borower shall promptly furnish ro [.ender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shall net be
<br />required to discharge any such lien so long as Borrower shall agree in writing to the p:n~ment of the obligation secured Ity
<br />such lien in a manner acceptable to Lender, ur shall in good faith contest such lien by. or defend entorcemcnt of such lien in,
<br />legal proceedings which operate tot prev^of the enforcement of the Iron or foricinire of the ('roperty or any part thereof.
<br />5. Hazard Insunroee. Borrower shat! keep the improvements now eni~ung ur hereafter elected on Cite Property insured
<br />against ivss by fire, hazards included within the tome "extended caveragc'~. and such other hazards as Lender may requtrP
<br />and in such amounts and for -uch periods as Lender may require: provided, that Lender shall nrn rcyuire that the amount of
<br />such coverage exceed that amount of coverage required to pay the su-ns +ecureal by this Mortgage.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to apnrovai i,y Lender; provided,
<br />that such approval shall not he unreasonably withheld. :+II premunns on insurance policies ,hail be paid in the manner
<br />provided under paragraph '_ hcreo( or, if not paid in such manner, by Bormuer making payment. waen due, directly to the
<br />iasuranct cazrer.
<br />All insurance policies and renewals [hereof shall ac in form ac::eptahlc to Lender ,utd shall :nchide at standard mortgage
<br />clause in favor of and m form anep[ablc to Lender. Lender shall h:tac the right u, hold the policies and renewals thereof,
<br />and Borrower shall promptly fw~ntsh to Lender all renewal nrntce> anal :dl receipts of paid premiums. In the event of less,
<br />Borrower shall give prompt nonce to the ~nsurancc earner and Lender. Lender ma} make proof of lo» if not made promptly
<br />by Burrower.
<br />Unless Lender and Borrower vthenvue agree in writing, insur:utce pmcccdc shall he applied ut restoration or repair of
<br />the Property damaged, provided such resturanon or rcpxir is cconouuadl} fers:blc and Utc +ecurity u[ this Mortgage is
<br />not thereby imparted. 1f such resturaton ar repair is not econamlcall} ta,ahfe ~.Ar .f the security of this Sortgage would
<br />be Imparted, the insurance proceeds shall be applied to tae sums secured h} thu Mortgage, wnh the excess, if any, paid
<br />to Borrower. It the Property is ahandoncd by Borrower, ur it Borrower ;ads ;o rocixmd to Lauder within 30 days from the
<br />date rta'ice is marled 6v Lender to Borrower that the insurance ::airier oAct+ to settle :.:ia;nt fa: insurance benefits, Lcoder
<br />s authorzed to collect and apply the insurance proceeds at I_enJer's cptwm enhcr :v reswratwn or repair of the Property
<br />or to the sums secured by tail Mortgage.
<br />Unless Lender and Borrower otherwise agree ut writing, any weh api>i;r.~uor ,~t piuc.ceds r„ p~ utapal shall not extend
<br />or post~ne the due date of the monthy installments referred w m paragraph, ; .,rid ~ hereof or rhaugc the amount of
<br />such tnstaflrncnts. If under paragraph IS hereof the Property is acywred by Lender, ail ngh!, tide and interest of Borrower
<br />:n and to :my insurance policies and in and to the proceeds thereat rcadtutg iiuiv ,iuu,age tv the Yrol±crts pgnr to the sale
<br />or acymvtion shrill pass to Lender to the extent of the sums secured h} thu Mu:tgage mancdiataiy pour to such sale or
<br />acquisition.
<br />6. Prccervation and 9taintenance of Property; Leaseholds; Coodmtunimn>; Manned knit 1)evelapments, Borroaer
<br />shall keep the Property in gaud repair and shalt not commit waste or fxrmn impairment or detarioratiun of the Property'
<br />and shall comply with the provisions of any lease if this Mortgage is on :~ ic.: ,rhald. if tins Mortgage is on a Iron ut a
<br />candomin+um or a planned amt devctvpment, Borrower shell pcrfc'rrm ,II ai Botrowcr`s i+birgations under the declarmvn
<br />or covenants creating or governing the condominium or planned unit developntcnt. the by-laws and regulations of the
<br />condomimum or planoed amt development, arzd eonstiaient documents. If ~.~ ~andmninium nr planned unit develapmcm
<br />rider is executed by Borrower and recorded together wnh this Ivtortgage, the covenantx and agreements of such rider
<br />shall be incorporated trite and shat! amend :ltd supplement the cvvenants and agreements u( this Mortgage as if the rider
<br />were a part hereof.
<br />?. Protection o! LetsdaPs Security. 1f Borrower faits to perfarm lac cvvenauts and agreepents contained in this
<br />Mortgage, Or if any action or prucetding is commenced which m:rlrrially affects Lender's interest in tae Property,
<br />iriciuding, but not limited to, eminent domain, ittsoivency, came e«torccrttent, yr arrangements ur pnxcedings involving a
<br />tsattkrupt yr decedtnt, titers l.,tnder :u Lender's option, upon notice in ftorrnwcr, mu} make such apix;:uances, chsburse such
<br />st#ns and take such action as rs acre>:;ary to protect Lcndcr`x rnts:ra:.se, inctndrng, but nut Irntrted to, ilisbutscnn:nt of
<br />reasonable aita[_.~y's tees and entry ~epun ttu Property to make repairs. ft i..~odei required mortgage illcrsraace a5 a
<br />csxtdnion of snaking 1fte: loan ueurcet by this '4feiYgage, &trrr:wer she+I pay lire prernrvms :eyinrcd tv maintain su.h
<br />cnsuranct in rlltct until such time as tttr• yurternent far ouch msurrrnrc ;crminates m accan den, r, whit Bor rower's and
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