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g~_,._ tic~E3732
<br />UNIFURM CovexxvTS. Borrower and Lender cevenunr and agree as fnlluws:
<br />D. Faymrnt of Pdnclpal and Interest. &-rmwer shall promptly pay when due the principal n( and intr. rest on the
<br />indebtedness evidenced by the Note, prepayment and late charge, a, provided in the Note. and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. Funds for Taxes and Insnrsnce. Subject to applicable law or to a w'rittcn waiver by [.ender. Borrow'cr shall pav
<br />to Lender on the day monthly installments of principal and interest are payahle under the Note, cntil the time is paid in full.
<br />a sum (htrein "Funds") equal to one-twelfth of the yearly taxes and ac,cssmentc which may attain priority over this
<br />Mortgage. and ground rents on the Property. if any. plus ane-twelfth of seariv premium installments far hazard insurance.
<br />plus one-twelfth of yearly premium installments ter mortgage insurance. if env. all as rcasnnably estimated initially an<i from
<br />time to time by Lender on the basis of assessments and hills and reasonahle estimates thereof.
<br />The Funds shall tee held in an roll itution. the deposits or accounts of which arc insured or guaranteed by a Federal nr
<br />state agency finchtding Lender if i.ender i; such an institution). Lender .hall apply the Funds m pay said !exec, assessments.
<br />insurance premiums and grourtd rents. [.ender may art charge tar w hn!ding and applying the Funds. anal}: ntg said account.
<br />oe verifying and compiling said assessments :rod bills. unless Lender pees Borrawer interest on the Funds and applicable law
<br />permiks Lender to make such a charge. Borrower and [.under may agree in writing at the !trot of execution of this
<br />Lliortgage that interest on the Funds shall he peed ro Borrower. and witless arch agreement is made or applicahle law
<br />requires such interest to be paid, Lender shall not he required to pav Borrower env interest or carnines on the Funds. !.ender
<br />shall give to Borrower, without charge. an annual accnuming of the Funds ,howin2 credits and dehity to the Funds and thz
<br />purpose for which each debit to [he Funds was made. fhe Funds :+rr pledged :., addukma{ security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Finds held by Lender. to¢e,her with the tenure mnnthh' inatallmems of Fund, pavahlc prior to
<br />the due dates of taxes. assessments, insurance premiums and ~raund rent,, shall exceed the amount reywred to pay said tales.
<br />assessments insurance premiums and ground rents as they tali due. ,uch excess hall he. at Borrower's opuon, either
<br />promptly repaid to Borrower ar credited to Borrower on month!}' insrtiiments ni Fund:. If the amount of the Funds
<br />held by Lender shall not be sufficient to pay taxes. assessments. insurance premwmc and ground rents as they fall due.
<br />$orrower shall pay to Lender any amount necessarn to m:+ke up the defiacncc within ±6 der, from the date nnuce is mailed
<br />by Lender to Borrower requesting parmcm thereat.
<br />Upon payment in full of all sums secured h~. this lkangagc. Lender ,hal! rromptls rctunet n, Borrower :rot' Funds
<br />held by Lender. If under paragraph 1 ~ hereo! the Propcrt} ;, ,o{d rr the Propcrtt n athersise a~_quircd by Lender, l_cnder
<br />shall apply, no later than tmmediateh~ prior to the ,ale of the Pr.?peny ar as acquisiton he Lender. any Funds held by
<br />Lender at the time of application ;rs a credit against the sums ,geared by this Mortgage.
<br />3. Application of Payments. Unless applicahle law pawides ntherwi,e. :dl eayments rccetved by Lender tinder the
<br />Note and paragraphs 1 and '_ hereof shall be applied he i_ender ti rst ;r. nati men[ or amounts nayablc to Lender by Borrower
<br />under paragraph' hereof. then Io interest payable nn the tiute. then tc. the principal of the tiote, and then m interest and
<br />principal on any Future Advances.
<br />4. Chargesp Liens. Burrower ,hall par ::11 taxes, assessments end ,ether .hargc,. tines .+nd impositions attnbutable to
<br />the Property which may attain a pnority over this Stortgage.:md lcasehuid payments or ground rents. if an}•. in [he manner
<br />provided under paragraph 2 hereof or. if not paid m such m:+nncr, h< Borrower making payment. when due, directly to the
<br />payee thereof. Borrower shall promptly furnnh to Lender all [wuces of amounts due ender tbi, paragraph. and in the event
<br />Borrower shall make payment dutctly. Buuow er half promptly turnnh t;, Lender receipt, r<idencing wah payments.
<br />Borrower shalt promptly discharge any lien ~shich ties pr.ortp guar rba, Mortgage: provided. [hat Borrower shall not he
<br />required to discharge any such lien ,o long as Borrower vtall agree ;;; ,+. u:ng ;~, the pa}men[ ,,t the uhhgation severed 6y
<br />such lien in a manner acceptable [a Lender. ar ,hail in ,rod faith coots,[ ,uch iicn hr -defend enfurccmcnt of such lien i-
<br />legai proceedings which opemre to present the enf~~rcemer.t of the i:ca ar forfe:uu< +•d the Properly nr am part thereof.
<br />5. Hazard Durance. Borrower shat! beep the improsement, now r•i,ung +~r hereafter created on the Property insured
<br />against Loss by fire, hazards included wuhm the term ~-extended cuorrage~-, and such other hazards a, Lender ma. require
<br />and in such amounts and for such periods .u Lender nt.:} reywre; pro+ideJ. that Lender ,hall not reywre that the amount of
<br />such coverage exceed that amount of coverage rcyu,red [o pay the .,ants >ec:: red h} thin Mortgage.
<br />The insurance carrier providing the insurance shall he chu,cn br $ormwer sttbiut a+ approval by Lender; provided.
<br />that such approval shalt not b<: unreasunahly w~ithheid. AIL pre:nu,ms ,ui trout,+ncr policies .half he paid m the manner
<br />provided under paragraph 2 hereof or, if not paid in ;uih manage, b} Bon~ower making payment, when due, ciireuly to the
<br />insurance cazrier.
<br />All insurance policies and ren<'wais [hereo[ shall t+.: m form earptablc to Lcn.ier and shall include a ,tandard mortgage
<br />clause Ln favor of and in form acceptable ua I_endet. Lender ,hall itase the right n> hold the polices ,wd renewals theroof.
<br />and Borrower shat! promptly furnish to Lender all ren:;wui nouxs and all receipts of paid premium,. In the event of loss.
<br />Borrower shat( give prompt nonce to the rnsurance canter end Lender_ Lcodcr max male prom o[ Ices if not made promptly
<br />by Borrower.
<br />Unless Lender and Born~wcr otheture agree in writing, insurance proceeds shall tae applied to rc,hxauan ur repair of
<br />the Property damaged, provided such reswrauon or repair +s rcunom[calh~ (easihla nd the ,c vrity of the Mortgage is
<br />not thereby impaired. If such restaratiun ar repair is oat eatnumically ieasihle or if the sccun[p of this :tlortgagc woutd
<br />be imparted. the insurance proceeds shalt b+: applied at the runts seu+red :~} thu Mangage, wuh the eases, if cry, paid
<br />to Borrawer. If the Property is abandoned hr Borrower. or ;t Borrower fails to respond to I_cnder w~athin ±U days from the
<br />date notice is mailed by Lender to Borrower that the insurance .artier mien to Bettie a clean fur insurance henefin, Lender
<br />is authorized to collect and apply the insurance proceeds at Lcrder-s opuon eaher to restarauon or repair of the Property
<br />or to the sums secured h}' this Mortgage.
<br />Unless Lender and Borrower otherwise agree :n writing, any such appiirrtion of proceeds to principal shall net extend
<br />or postpone the due date oT the monthly installments referred [o in paragraphs I and ? herwi iu change the amount of
<br />su:h installments. Ik under paragraph 1b hereof the Propsrts h a.ywred h} Linder, a;l right, title and interest o! Borrower
<br />in and to an}' insurance policies and in and to the proceeds thereof resulting from damage to the Propern~ prior to the sale
<br />or acquisition shall pass to Leader to the extent of the sums secured b} this \lurtgage immedia[ciy prior to >uch sale ur
<br />acquisition.
<br />6. Preservation and !-fainteoance of Property; Ixascholds; Condmniniums; Planned Unit Decelupmcnts. Borrower
<br />shall keep the Property in goad repair and shall not summit waste ar permit impairment or deterioration of the Properly
<br />and shat{ wmply with the provisions o! env Lease if this \lartgagc a an a ieaseheld, if this Mar[gagc i. oo :+ unit in a
<br />condominium ar a p}armed unit development, Borre•.ver .hall perfenn ail of Borrowers ahiigauons under the declaration
<br />ar covenants creating or govecmng the condominium or planocd snit decelopman[, the 6y-laws and regulations of the
<br />condominium ar planned unit development, and cunstiuten[ documrnu. ti a condominium ur planned amt development
<br />rider is executed by Borrower and recorded together wtth thu ?Mortgage. [he covenants and agreements of such rider
<br />;hall be incorporated into and shalt amend and supplement the covenants and agreements of this Mortgage as rf the rider
<br />were a pars hereof.
<br />7, Protection of Lettder's Security. It Borrawer fads to pcrfonn the covenant, and agrocmen[s contawed in this
<br />Mortgage, or if any action ur proceednng is commenced which material!} affects Lender's roterest in the Pntpen}'.
<br />including, !tut not limited to, eminent domain, i[tsoivenc~'. rode cn (or.cntent, ar :urangemants nr prna~edings mcolving a
<br />bankrupt or decedent, then Lender at Landes s aptiou, oleo notice to Rctrmwcr, may make such apitearance,, disburse ,uch
<br />sums and take such action as is necessary to protect !.ender, imucs[. including, but not Lintitcd to. dishursement of
<br />reasonahle attorney's tees ttnd entry aloe! the Property to make repair.. If Lender required rx~rtgagc insurance ;ts a
<br />canditian of making the !taco secured h} this Mortgage. Barr;aucr shall par the premiums rcyuired to mairtt,iin such
<br />insurance in effect until such time as the requircmcnt for uu•h nuurance rermutates tit aecordarcc with Burmwcr's and
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