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<br />1)NIFORM-CovtNenrs. Borrower and Lender covenant end agree as follows: -- -
<br />- 7. PaymenC of Principal and Interest. Borrower shall promptly pay wfien due [he principal of and interest on ihc-
<br />indebtedness evidenced by the Note, prepayment -and [ate ctiarges as proJiaied in the tote, end the principal of and interest - - -
<br />on any Future Advances secured by this Mortgage. - - - - - - - - - - - - _ - - _
<br />2. Finds for Taxes and Insurable. Subject to applicable law tic to a written waiver 6y Gender. Bottower shall day
<br />to Lender on the day monthly installments of principal and interest are payable tinder the Note, until the Note is paid in fulh -
<br />a stun (herein "Funds") equal to one-twelfth of the yearly rases cad assessmems which may- attain priority over this
<br />Mortgage, and ground rents on the Property. if any. plus one-twelfth of yearly premium installments for hazard insurance,
<br />plus one-twelfth of yearly premium installments for mortgage insurance. if an}'. all as esasonabh•. 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 he held in an institution the deposits nr accoums of -vyhich are insured or guaranteed by a Federal -or -
<br />state agency ;including Lender if Lender is such an institution).- Lender shall apply the Funds [o pay said taxes, assessments. - --
<br />- insurance premiumsand ground rents. Lender ma}•.not charge for so holding anti applying the-Funds, analyzing said account, -
<br />tic verifying and compiling said assessments and bills, unless Lender paps Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and -Lender mai~ agree fn writing at the time of execution of this - -
<br />- Mortgage that interest on the Funds shall he paid m Borrower. and unless such agreement is made or applicable law - -
<br />requires such interest to be paid, Lender shalt not he required. u,"pay Borrower any interest or earnings on the Funds. Gender - -
<br />shall 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 Funds-was made. The Funds arc pledged as additinn:d security for the sums secured - - -
<br />by this Mortgage..
<br />- If the amount of the Funds held by [.ender. together-with the fuuue monthly installments'of Funds payable priorto -
<br />- - the due dates of taxes, assessments, insurance premiums and ground rents, shall-exceed the amount required--io pay said Mazes. - -
<br />- - - assessments. insurance premiums- and-ground--rents as [hoc Fall due. such excess -chill -be, at Borrower's--option, either - - - -
<br />- - promptly repaid [o Borrower or cmdited to Borrower on monthly installments of- Funds. [f the amount of the Funds - -
<br />- - held by Lender shall not be sufficient to pay rases, assessmants,.innirutce premiums and ground rents as-they fall due.
<br />'- - Borrower shall pay m Lender any amount necessary m make up-the dtticiency within 30 days Irom the date notice is mailed
<br />- - by Lender to Borrower requesting-payment thereof. - -. - - -- - - - - -
<br />'- - Upon payment infull of all sums secured-bv this Mortgage: i.eodcr shall promptly- refund to Borrower am'--Funds -
<br />- - - . - "- held-by Lender. -[f under paragraph.lS herof the Property ~s sold or thr Propert} is-otherwise aegp:red by 6endeq -Lender - - -- -
<br />shall spply,.no later than immediately. prior to the sale of the Property br its acquisition by Lender. any Funds held. by
<br />- Lender at [he time of application as a credit against the sums secured by-this Mortgage. - -- -- - - - - - - -- ---
<br />- -__ _' - 3. Application of Payments. Utiless applicable law provides ct henvise, all-payments received by Lender tinder the- - - -
<br />--_ - - -- Nole and paragraphs I and 2 hereof shalftie applied by Lcndcr first in-payment tit-amounts payab(c to Lender -by-Borrower - _-- - _ --
<br />- under paragraph ?hereof, then to interest payable-on-the More, then to the-principal of the Note, and then [o interest and _ -_ - -.
<br />_ - principal on any Future Advances. - "
<br />S:Charges; Liens. -Borrower shall pay ail taxes. -ssessments-and othercharges.-fines itnd imp~sitionsattributable to
<br />- the Property which may attain a priority over [hie Mortgage, and leasehold payments ar ground rents, if any, in thr manneh - - -
<br />- _ - ,provided under paragraph 2-heieof pr; if not paid in such manner, bti' Boir~wer making payment, when due, directly to the- - - - -
<br />payeethereof. Borrower shall promptly furnishlo Lender all nouces of amounts due tender this paragraph and idthe eJerit - - - - -- -
<br />Borrower shall make payment directly, Borro+acr shall promptly furnish to Lcndcr receipts evidenciogsuch payments.-- -
<br />- - -Borrower shall promptly discharge any lien -which Iias pnoriq~ curt this -Mortgage; pnivided. that B¢rrnwer shall not be - - ' - -
<br />- required to discharge any such lien so long-as Borntwer shall agree in urumg to-the-payment-qf the hligation secured by - -
<br />_ such lien in a manner acceptable to Lender, or ;hall ~tn good faith contest .each lien -by'. or defend enforcement of such lien in, -
<br />legal~pt'oceedings which operate to prevent the enforcement 61 the lien or forfeiture oP the Property or an,;. part thereof- -
<br />" - - -- 5. Hazard Insiirarice. Borrower shall-keep the improventent+ xrtc cxisting.or-..hereafter erected on the Propert}• insured _ _ _
<br />- - - against loss tiyfitc, hsizards included u•ith~ri-iha firm `a. xtendcd ~ovcraEe `-. and sai~h-nihcr hazards. as Lender may require - _
<br />__. =and in=such-amounts and for such pond--:i--.--Lender-may regain;" pro,-idedc-that 1 cndcr_shall net-reyuire ShctLth_e amount of _ _ -
<br />- xuch,cover--age exceed that amount of-iovcral,e t •yui red t f t} the um+ sec,urrd hu thLs Mortgage. - -- - - _
<br />The insurance carrier providing-the inwr.mce sh:d l- hr chueri by Borrouar siihlect to- approval ha' Lcndcr. provided. - -
<br />_ -_ thaC such approval shall. riot be unrcasnnably. withheld. :111 priminm, on- insurance polities >hall he paid :in [he manner - - -
<br />_ -- _ -provided-under paragraph v_hereat or~ rf--riot pard in-auch manrie_r,-bv Buriower mukutg_peynieni; when doe;-directly to-the "- -
<br />insurtihc_e cazrier.-~:... ... _:. -. _.. .... .. :_,.. " ... _.
<br />All insurance.pohcies and.~'renewals thci •ot shall-be m fomt -ue •alna6lc tot ~ ~ :uui shall mclud .: +tandani mortgage _
<br />clause-in favor of and m foim nett table to t ruder -lender shall hate ths~ n ht:r !r~1d the polr4irs :uvd renru`al+ thereof - - - - ----=
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<br />--`-_--and Borrower-shall:-promptly-fur-Wish tn-Lcnarar alt-rencual uonezs-andal4-^:a ~ft.~f--paid--premipms. In-tho_ovtut of tcss~ -
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<br />' BorrowershallgiJc phimp[ notice to the iiiw .a.ad c3rriir and Leinlei: I.eniiernrw make probe ollbss Knot made promptly
<br />byBorrower.
<br />Unless tender and Borrower otherwise agree in ,yriting.. in+urance yuoceeJ.c shall be .applied to nsuxatiuu a?r repair of
<br />the Property damaged, provided such restoration or iepair is economically feasible- :md [he security of this 1.hxtgage i+ . - -
<br />not thereby impaired. If such re--stixation ur repair-is not cconomi'all}-feasible or +f the. security of this Mortgage would
<br />' - -- be impaired, the insurance proceeds shah be ::ppliai to the sums yenned-by this Murtgagc, +iith the s'iccas, if any, paid _
<br />- to Borrower. If the Property is abandoned be tiorroue~, or it Bottowa!f tails to respond an Lender wrthm lp da}s loan the
<br />- - date notice is mailed by Lender to Borrower that [hc incur na• u,rner tillers tp scale aclaim-for insurance heacfits, Lender -
<br />- is-authorized to collect and apply the Inwranec proceeds ut Lender x i?ption, crther to trosmratiun or-repair nt t,hr Propert}~ - -
<br />or [o the slim. s securedby this Mortgage.
<br />- Unless Lender and 8orrayer otherwise agre m uri6ng. uri}- sucfi applic.ctiun of proceeds td pnnCipal ,hall vot extend- -
<br />- - - or postpone ttie due date cif tfic inoitihly inuallmciit-referred to-.(n-paragi;iph+ 1 -and 2 hereof-ar change the amcuun.. of - -- -- - '- -
<br />such installments. Gunder paragraph IS hcreoi the Prppcrt} ~s acyuircd by Lander, :rll right, -tVtle :u)d interest of iiorriawer- -
<br />_ in and to any irsurance policies and in and to ttte-proceeds thrrnot re.+'uhing iromdan~nge w the 1'rap~rty proe-tu thnsale -
<br />or acquisition ihallpnss k) l.tuder to-thee exti•nt iri the Burns-sccun•d fir,-this Mangagc iiniitedi:ucty trµtr t_a* ,uch ea le-or - --
<br />. - -acquisition. - -.. - - - - - - - -
<br />- _ 6. Presen•ation and lluintenance of Yropcrt}; Gru+ehuldi; (ondoniiniums: Plduned t=rot Urteiupmrtns. Borr4wrr -
<br />- shall keep the Property in good repair and +hall no[ cummiF aisle ur permit impairment ar detciiorauaii bf thr Propert) -- _ _
<br />- -- and shall comply with the-provjsions oC:wry' lease iC the Mbttgag• i+ gn-alt>.+sa~ht~l~. II thr,-V-ton~agc i> on ,-+,anir in ,t - - -
<br />`------ -condo[ninntm-'o~ a'ptannecl---unit devctapme-nt,- &-t,-.=w-rr ,dakt=F>til nt .:k.=~.C )i ,+rv. +~: , 1 tsti rt_..,it=_ 3 1.s :;=.v- la+l.tr.rtr+.sft _-
<br />_ -_ -_ ur ogv_enant_s creating or 6pvcrntng the°:and+,iutmeun +-surd +a ue devet ~pma~~n. ihv t Laws-;t td r ga rlati a.tt +,[ than -
<br />_ condumutium or planned -unit-der°elopinent. .+nd .onstimam dth~_iuna^r u. It ;t ~una.nniniuur ar Plain-d . tt;:-u-~, ei.+pmint -
<br />- rider is eCecut@d--6}• Bpriowprand recnrtled together with the Mrrtgage; th -- ren:mt red agrc.emeni-+ a+, ua'h n,fcr -- - -
<br />- - - - -shall'bb incorporated info and shall intend arid-sitpptemuu-chi-ce.enant.+-anJ-~rgre<mvuts ~a iHrl.--~1 +•rtaM=:... ,t r,r...icier -
<br />- - - - - were a part hereof. - - - - -. - - - - - _ - - - - - - - - -- - - - - - - -
<br />„_ _ - -- g..gProtectinn of Lendc2s S~cuN t.. b Ba _brnmeu.+c.l utt [f - r? f e r arcs v i +gr non rt a iii c t m th + _ _
<br />Mort a q or rL a_n action or neceedn r+ tfch m t IU If i I. n r ~nt~r m thr ! t Err - --- - - _
<br />- g, t uo[ limited to, emutcnt. domain, mint l-ens} ~'W+~ ti tssrsarna.,, ur ,~ t.cr-urrua nts of pt xaadme+ r.t+ot+knp. a
<br />mdudin bu ~ ) ~ _
<br />-_ bankrupt or decedenLlhen L,'nder at Gender..rrpuvu, ulrnit nnuao .-Bs+n ow+v a.p o?eke auch al'In rr n ~-c, .hshuree uwh
<br />_ sums and take such actiJn ~,u is u~ceaaan lei pis,tccl-Lc:tcter, nlerc+t. ors + t7 ~.~t net hnr. Wtl ~r,dsh:r-a•mcnt=nt - - -
<br />- - reasonahle attomcr s las+ anJ entry ulwn by Ira+pc_ r m Gc r -- t 1 c 14i ra a 1 inns, +, user t ~
<br />- - ~ - ctrncffriiin itf ~ma7iiiig the lr?ai4-xeeur<d h~- tb'n zitrrtg iga. -B,-a'otc., ,h.~,t-I :t+ ns ; r~mee.ms ~r.rArt, t.t ra- ^nu aa~r :cn r - -_
<br />insurance in-~(leet untrl such ume .a d60 r IuiiGmenf t<n' .ach irasurnnce. to i ~a~e, >^ -rdarscs- ,fr H;rn ~ ansr --
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