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81-~.-u36~~1
<br />UtvlPe'Mtat Covetretrrs. Borrower and Lender covenant and agree as follows:
<br />g. of IhbtelMl tmd geterest. Borrower shall promptly pay when due the principal of and interest on the
<br />indabtedneas evidentxd by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />an any Future Advances aecttt~ by this Mortgage.
<br />2. >Fnie for Taas trA Isroeaee. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to Lender on the day matthly installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a ttttrn (herein "Ftmdn") equal to ottc-twelfth ai rite yeary taxes and assessrticnts which may attain priority aver this
<br />i+Iortgags, oral ground tents can the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />piusotsrrtwtifth of yearly premium )ttstalltreenes for mortgage inaurattce, if any, all as reasonably estimated initia)ty and from
<br />time to time by Lender on the basis of assessments and btHs and reasonable estimates thereof.
<br />The Funds shall be held in an institution the dcposiu or accounts of which are insured or guaranteed by a Federal or
<br />state agency (including Lerner if Leader is such an institution). Letteftr shad apply the Funds to pay said taxes. assessments,
<br />imurantx premiums and ,ground rents. Ltnder may not charge far sea holding and applying the Funds. anatyzing said account,
<br />w_ verifying and compiling said assessmtnd artd bills. unless Leader pays Borrower interest on the Funds and applicable law
<br />permits Lender to retake such a charge. Borrower sled Lender may agrce in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall be paid to Barrowtt. and unless such agrament is made or applicable taw
<br />roquires allele inttrtat to be paid, Lender shat) not be raiuired to pay Harrower any interest or earnings on the Funds. Lender
<br />sifsli give to Borrower; without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the Furtds was made. TTte Panels are pledged az additional security for the sums secured
<br />by this Mottga~.
<br />If the atnotmt of the Funds held by under. together with the future monthly installments of Funds payable prior to
<br />u . u.~ ~_w, eE ,...,,. _ ..,..,.~, . r?~r.~ premiums and around rents, shall exceed the amoun¢ required to pay said taxes,
<br />aaaasmettts. imuratttt premiums andrground rents ac they fall due. such excess shall be, at Harrowers option, either
<br />prsxrtptly repaid to Borrower or craiited ta Borrower on manthl} Installments of Funds. If the amount of the Funds
<br />helG by Leader shat! teat be strfficitlrt to pay razes. asaessmcnts, Insurance premiums and ground rents as they fall due.
<br />Borrower sha[1 pay to Lender soy amount necessary to make up the deficiency wrthin 30 days from the date notice rs mailed
<br />by Le>'~er to Borrower requesting payment thereof.
<br />Uprm gayment in full of all sums secures by this Mangage. tender shall promptly refund to Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Progeny » sold or the Property is otherwise acquired by Lender, Lender
<br />stall apply, rto later than imntediatelq pnor to the sale of the Propcny or its acquisition by Lender, any Funds held by
<br />Leader at the tune of application az a credit against the sums secured 6y this Mortgage.
<br />3. Appi6ddaa of g'aytneaM. Unless applicable law pravidrs otherwise, ail payments received by Lender under the
<br />Note and paragraphs I sad 2 htreot shat) be applttd by Lender first +n payment of amounts payable to Lender by Borrower
<br />uttdet paragraph 2 hereof, rhea to interest payable on the :'Dote. then to the principal of [he Note, and then to interest and
<br />principal on any Future Advances.
<br />4. (,'6atge+ly glen. Borrower ;hall pay all vexes, assessments and other charges. fines and tmposinons attnbutable to
<br />the Property whkh may attain a priority over this hfongage, and leasehold payments or ground rents, if any. in the mancer
<br />provitkd under paragraph 2 harlot or, if not gold +n such manner, by Borrower making panrtent, when due, directly to the
<br />paytt the[cof. Borrewer shall ptamgtl} furntsh to Lender all nouces of amounts dx under thes paragraph. and in the event
<br />Horrower shall make payment directly. Borrower ,hall promptly tumoh to Lender recetpu evidencing such payments.
<br />Harrower shad promptly discituge any hen which has pr+anty aver :hts Mortgage: ercvcded, that Barrawer shall not be
<br />tTglltrCd t0 dlxhafge any s.._'_ lien w long as Borrower shall ague in wrleing tv the payment ut tare ebtigauon secured l,y
<br />stash ircn to a mauttu acceptable to Lertdtr, ar shall in gcxxi faith cante,t such lien by, or defend enforcement o[ such lien m,
<br />legal procmlmgs which operate to prevent the enforcement of the {ran t'r forftuure of the Property ar any part thereof.
<br />S. ggarasd gaattaace. Borrower shalt keep the emprovemeats paw ezuttng yr hereafter erected on tfie Property insured
<br />against loss by firs, hazards tneludcd within the lain "attended coverage` . and such ocher hazards as Lender may require
<br />sled en such arttounts and for such period, as I.endtt may require, provided, that Lender ,hall not regwre that the amount of
<br />such coverage txcexd that amount of coverage rcqutred to pay the sums secured by this Mortgage.
<br />Tile insurance carrier providing the insurance shall bt chcxen by Harrower sub)ect to approval by Lender; provided,
<br />that stu;lt approval shall not be unieasanaftly withheld. Ali premiums on insurance polictes shall be paid in the manner
<br />provided ttt+dcrparagraph 2 herewf or, if asst gold in sucft manner, by Burrower maktttg payment, when due; directly to the
<br />itssuraasx carrier.
<br />Ali insurance policies and renewals thtrtaf shall be in farm acceptabic to Lender sad shalt include a standard mortgage
<br />clause in favor of sled in farm acceptable to Lender. l.eadtr shall )tasc^ the right a, hofd the policies and renewals thereof,
<br />ate Barrawer shall promptly furnish to Lender ail rctttwal nut+tes and alt receipts of paid premiums. In the event of )ors,
<br />Batrower shall give prompt tweet to the inmurance corner and Lender. Lender ma} make proof of toss if not made promptly
<br />b}' Borrower.
<br />'lnitss Lcnttcs and Borrower atherwist agree in w nnng, insurance proceeds shay{ be applied to restoration or repair of
<br />the Property damaged, provided such rtstarauon or repatr Is tcotwmt:ally feasible and the security of this Mortgage is
<br />rent thereby impaired. If such restoration ar repair rs pat economically feasible or i( the security of this Mortgage would
<br />lx impaired, the insura~e proceeds shall be applied to the Bunts secured by this Mortgage, with the excess, if any, paid
<br />to Borrower. tf the Propem rs abandtxted by Borrower, ar Ii Harrower fads to respond to Lrnder wi[htn 30 days from the
<br />daft tmiice is mailed by Len~r to Barrawer that the Insurance carnet ofttrs to settle a claim for inwratut benefits, Lender
<br />is autharizsd to tallest and apply the insurance prtceeds at lender's option tither to restoration or repair of the Progeny
<br />or to the stuns seeutxd by this Mortgage.
<br />Utrkss Letterer and Borrower atherwisc agree ,n venting, am' such application of proceeds to pnncipai shall not extend
<br />ar pastporte the dot date of the monthly itutat)tntnis referred to its paragraphs 1 and 2 hereof ar change the amount of
<br />stts~ installments, It utxkd paragraph i g hereof the Property is acyuutri by Lender, ell riyJtt, title and interest of Borrower
<br />in sad to say insurancs policies and in and to tilt prtxts~s thereof resWung from damage to the Property prior to the Bak
<br />or acgtusition shall pass to Lender to the ecteat of the surru scared by this Sortgage Immediately prior to such sale or
<br />atxprisitiat.
<br />6. lta~vz:attaa aced 141aiattnstatt of Property: dJeasehale~; C'trndomidtsms; Plaemed UtsA Derelopttaeats. Borrower
<br />shall keep the Property is good repair and shall sot commit waste or permit impairmtrtt or deterioration of the Property
<br />sled shalt [amply with [has provis;,tus of any least tE this Rtongage t; on a leasehold. If this Mortgage is on a unit to a
<br />coetdsxnittittm ar a plantxd utter ckvelopment, Borrower shall perform ail at Bortawer's obligations under the declarauan
<br />at c;avesaants creatit~ ar govcrntag the candanrinium or planned unit development, the by-laws and regulations of the
<br />caadamittittm nt planrbd unit developstent, and constituent daw-ntnzs. If a cvndaminittm or planned unit tkvelopment
<br />rider is esmuted by Borrower and rc+:ertit+d together with this Mortgage, the covenants and agreemenu at such rider
<br />shall bt incotptuttuad uuo and shall artteud arni supplement the covenants and agrettntnts of this Mortgage as if the rider
<br />were a past hereof.
<br />T. gkaaetBars d gnie~s StewNy. [f Harrawr:r fails ta'perfarm the covenants and agreements contained rn this
<br />i of it sup action .x practuiing is catnnttttced which materially alftcts Lender's .tnttrest In the Prupeny,
<br />uuhsdtrtg, but teat )itmted to, erttittent domain. irtso)yetri:y, cttdt enforcemenf, or arrangernenes cr prtxctxiings tma{ving a
<br />haa3crupt to dec'+taimtt, then I,atukr at lender's optivrs, upon notice to Barrawer. may make such appearances, disburse such
<br />as,uro amt lobe wtcls aw°tiart as is rtccessary to proerxt Ltndei s imcrest, iaclctding, but pat litrtited Za.:Irsbursentent of
<br />r+saatmaitlt aittNtsOy's feet; atad entry ttpttn the Proixny to make regatta. tf Eettdcr required mortgage insurance as a
<br />custdtis~o of makiitj the loan s€.urad by ihts Mortgage, Barrawer shat, pay the premiums required ua maintain s+eclt
<br />iatxw in e$esct until h time as tilt tcyuuttnent f*~ sztc)t otsutance tarmioates in accvedattcc w=ith Borrower's and
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