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81= ~)0~408
<br />Uxtroaat Covttxr+xrs. Borrower and Lentkr covenant and agree as fellows:
<br />1: P;ysetat of rdtaei€W sal IaserscN. Borrower shall promptly pay when due the principal of and interest on rtes
<br />indtsbtedoas evidenced by the Note, ptepaymtni and late charges as provided in the Note, and the principal of and interest
<br />on arty Ftmtre Advances secured by this Mortgage.
<br />t Ftsi ter Teas atti hsaroee. Slabject w appiit:abk law or to a written waiver by fender, Borrower shalt pay
<br />to Lender tfn the day maatitiy itrstatlments of principal and interest arc payable under the Note, until the Note is-paid in folk
<br />a strm (hereie "Fuatis'~ egtwl ro om•twel€th of the yearly taxes and asstnsments which may attain priority over that
<br />Mortgage. and ground ream on the Property. if any. Pius offs-ttveifth erf v'rarfy premium it~taBtttents for hazard insurance.
<br />pots one-twelfth of }+carly prenaittm instalitrrents for mortgage irtsunntt, if any, atlas reasonably ptimated initia8y and from
<br />time tst time by Lettdcr on the basis of astessments and bills and reasonable estimates tht:reof.
<br />The Fonds shall be held in as institution the deposits or accounts of which arc insured or gwranteed by a Federal or
<br />state agency (iaeludirrg Leader if Lender is such an it[stitntfon 1. Lender shall apply the Fwtds to pay said taxes, asarrasrnetus,
<br />ittsunnce.pramiums and ground rents. Lender may not charge for sa holding and applying the Fttads, analyzing said atxounk
<br />or verifying soil sxfmpihng said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />pttrmits Letrdcr to make such a charge. Borrower and Lender may agree in writing at the tittle of execution of this
<br />Mortgage that interest on the Funds shall 6e paid to Borrower, ono unless strch agreement is made or applicable law
<br />~Nira retch interest to be paid, Lender shaft not be required to pay Borrower say interest or earnings on the Funds. Linder
<br />shag give to Borrower, wittwut charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />pnrpost for which each debit to the Funds was made. Ttfe Funds are pledged as additional security for the sums seared
<br />by this Mange.
<br />!f the atrrount of the Ptmds held by Lender. rogtxher with [he future monthly instatlrneats of Funds payable prior to
<br />the due dates of taxes, asstnsneents, imurancc prcmiuim acrd ground rents. shall exceed the amount required to pay said taxes,
<br />aaseataxntt, imurance prctniums amt ground rents as they fall due, such access shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Burrower un monthly installments of Funds If the amount of the Funds
<br />htdd try Letter shall not be std5citnt to pay taxes. aaaxsments, insurance premiums and ground rents as they fall due.
<br />liortowsr sbaU pay to Leader any amount neeessarp to make up the defiucncy within 3Q days from the date notice is mailed
<br />by Lender to Borrower regefatfng payment thereof.
<br />Upon payment in frill of all sums secured by this blongage. Lender shall prcunptiy refund to Borrower any Funds
<br />held try Letfdex. If under paragraph 18 hereof the Propeny +s cold ar the Property ss otherwise acqusrcd by Lender, (seder
<br />shalt apply. no later than immediately prior to the sale of the Property ar its acquisition by Isnder, any Funds held by
<br />Lender at the torte of application as a credit against the sums securs:d !ry this Mortgage.
<br />3. A~Ycatian of Payssieab. finless applicable law prowdes otherwise. all payments receivt~ by Lender under the
<br />Iva[e asui paragraphs 1 and 2 hereof shall he applied hp Lender first m payment of amounts payable to Lentttr by Borrower
<br />under paragraph 7, hereef, rhea to interest payable on the \ate. then to the principal of the Nott, and then to interest and
<br />prncipal on any Futtm Advances.
<br />4, Cltesgeat l leas. furrower shall pay all taxes. assessments and +rther charges. fines and smposi:ions attributable to
<br />the Property whis:h ray attain a priority over this Mortgage, and leasehnid payments nr ground rents, if any, in the manner
<br />ptavided tinder parsgnph 2 hereof or, sf net paid in state manner, by Borrower making payment, when due. directly to the
<br />payee thereof. Borrower shall promptly furmsh to Lender all nooses r.f amrn+ntx due under thss paragraph, soil in the event
<br />Harrower shall make payment dimtly, Borrower shall promptly furnish l.s Lender receipts cvidenctrtg such payments.
<br />Harrower xhall prtmptly discharge any lien which has prianty ±,ver this Mortgage: provsdcd, that Borrower shall nM be
<br />tegWted to dixbarge sap sucfi lira su long as Burrower shall agree m +rrnnR to the payment of the obligation secured by
<br />such tiw to a manner aceeptrblr to Lender. or shall in good faith contest such teen h}°. ur d+tfend enforcement of such lien m,
<br />legal procYedt,.gs which npttate to prevent the enforcement nt the tree irr forlatutr of the Property or any part thereof.
<br />5. f~rA Iwseeeea'e. Butrox:er shall keep the Emtitu.•ements new cxssnng or hereafter erected on the Property insured
<br />ageittst loss by Sts. hazartts included within the tcmf 'extended coverage' and such other hazards as Lender may requsre
<br />and m such amounts and far stfclt per><'xic as Lender may require: pins ided. that (.ender ,hall not rcauirc that the amount of
<br />such coverage exceed that amoum nt coverage required to pay the sum. secured by this Mortgage.
<br />The iiaurtmce carver providing the mwrance vhall be chosen by Brnrowcr vubjtct to approval fiy Lander, provided,
<br />that stsh approval shaft not be- unrcasxiably wi:hhefd. .0.U prcmtums ors insurarxt policies shall he paid in the manner
<br />provided under puagraph Z hereof ur. sf trot peril to such manner, try Borrower making payment, when due, ~-~ qtly to the
<br />ittauraase carries.
<br />AB imuraace potecies sad renewals thereof sfiali he to form acceptable to Lander and shall include a standard mortgage
<br />claws in favor of sad in form acecptahs< to l.cteder. fender shaft have rtes right :o hold the policies and renewals ifiereof.
<br />and Bomosrer steal! pranptty furmsh to Lender all rcrtcwai nutxp and all receipts u[ paid premiums- In the event of loss.
<br />Borrower snail give prompt notice to the snsuratn.c earner and Lender. Lender may make proof of loss tf not mad( prortfptly
<br />try Botaower.
<br />Uttkat Lender aced Borrower otherwsx agree in wrung, insurance pr~xceds shat! be applied to restoration or repair of
<br />the Prtrpmty damaged, prowsied such restoratwn t>r repair is ecutiomrcally irastbk and the security of tMs Mortgage is
<br />riot tisueby impaired. t€ sricts restorauon or repair is ncu cconomicall}' feasible ar it the security at this Mortgage would
<br />be impaired, the ioauraeoe ptatxeds shall be appied to the sums securetf by this Mungagt. with rtes excess, if any, paid
<br />to Borrower. tf the Propene n abaoctatwed by Borrower, or if ltorrowtr fasts to respond to Lender within 30 days from the
<br />daft ttoliee is mailed b}' Lender to Borrower that the iasurattce career ntttrs to settle a eiaim for insurance herrefits, Lender
<br />is auUwrized to collect sad apply the slfSttcanCe proceeds ai Lender's option ttther to restoration or repair of the Property
<br />or is the scum secured by this Mortgage.
<br />Uttkss Leader and Borrower utherwisr agree m wntitfg, any such application of proceeds to principal shall not extend
<br />or postpone the dot date of the manthfy iastaUmems referred to in paragraphs 1 and 2 hereof or change the amount of
<br />stab imtailmetus ]f ufttfee paragraph f g hcrrnf the Pruputy is acquired by Leader, all right, tick and interest of Borrower
<br />ill and to say ittsenattce ptilkrcs and to sad to the proceeds thereat restthiag from damage to the Property prior to tht sale
<br />or acgtsition shall pass to Leader to the extent of ttx sutfts secured ty th;a Mortgage immediately prior to xuch sale or
<br />6: Ted earl Mabee of Property; !-easthafds: Cowdn~riosas; PbtsreA Uds DevebNoeshi. Borrower
<br />sha# kept the Ftopaety is goad repair sad shad tint commit waste ur permit fmpairtnent or deterioration of the Properly
<br />sail abatl comply whit trio prorisiata of aay lease if this Mangage is an a Icaachald. [f this Mortgage is en a unit in a
<br />coedOrttiletrn't ex a ptan:ted twit dtvsstopraerst. Bexeower shall per[orm all of Borrower's abtigattons under the dtxiar:teen
<br />er cues creantfg x gavernusg the condominium as planned unit develupmenk thr by-laws scut regtslatianx of the
<br />i504f$al~tRm of pleased unit daveiopmeat, and cemstittfent docwrftnts. If a comiominium or planned amt devciupfnent
<br />rider fa aaetuted try Basrtrrtsar amt rccorcled togtthsr with this Mortgages, the covenimts acrd agreements of such rider
<br />ts~ be iaootprx2~pd tins sail shag amarrst and suppkatan! -the coverfants and agteernenta of this Mortgage as if the rider
<br />wtmt-a pat{ ]retool.
<br />?> !'~lalkttt d ltsrarr's Baestefff. If Botrawer fads to perform cite txrvenaats a~ agreamenta crnttairted in this
<br />tigortgaga, or if asiy earlier or pew( to cammetres=d whuh mateaiafty a~ta Ltrtder's interest in, site Propeny,
<br />bat stall liaritad to, tenir+wtt duetain, irssolvertcy. cod( enforcement. ur arrangttmtnts or'pruc:eedinga ittvtflving a
<br />bait tuC daoeAsok tutu Leads at Leackr's option, upon. nettirx to Borrower, may make such appearatsces, dfstutrsc such
<br />fltwi atr4_ ratite a4sb aetlon at fa ftetaxisarr to protect (rtsder's etrterestt. ixiudiag, trot (fat timiscd- ter, disbursement of
<br />~s akl4Ma~#r`s bless artd satry ttpan tbt Pt~arty w [Hake repeats. if tsetdtr raquircd mortgage imurarsta as a
<br />saApihtrsfe_+ai t lira loan strestred try this IrMsatgagc. ttsHnrwer shill pay ttte pretniurns. rertuitsd to maimstfrt rush
<br />iAaltt»Itlk'4' let. sdlitgt (edit such tYtAa as (tut raquireetent (~ srKh irlaUrattee tcrminares in x~rdance with Borrower's and
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