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Utvtrottaa COYEMAtV7'9. Barrawtr and Lender s:pvenam and agree as follows: ~ ~ .~ ~~ U'
<br />i. > r# 1lal and i~teaest. Borrower shall promptly pay when due the principal of and interest on the
<br />iaddstedaea evidetwed by the Note, prepayment and late charges as provided in the Note, and the principal of attd interest
<br />~ say Bt#are Advar secured by this Mortgage.
<br />2. PLwds fax 7amat ani insmsee. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
<br />to I on the day rttonthiy lost:ilrrtenta of prircipal and intemt are payable under the Note, until the Note is paid in full,
<br />s sam (herein "Ftmds"I egtsst to one•twellth of the yearly taxes and assessments which may attain pttiotity aver thSs
<br />Mortgage, and ground renu on ttce Property, if any, phrs onotwelfth of yearly premium installments for hazard insuratce,
<br />pNu otttt-twelfth of yeufp prom'-m iristalttnettts for mortgage inaurattce, if any, all as reasonably estimaicd initially and from
<br />time to dine by i.ender oa the basis of aasnsments and bills and reasonable estimates thereof.
<br />77~ I'w+da abaft be held in art institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />state agetxy (inchtdirrg Lender if Lender is such an institution}, Lender shall apply the Funds to pay said taxes, assessments,
<br />i~nrapCe ptetniwns and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and compiling slid assessments and bills, unless Letrder pays Borrower intemt on the Funds and applicable law
<br />pttrmita Lender to make such a charge. Borrower and Lender may agrce .n writing at the time of execution of this
<br />Mortgage that interest on the Funds shall be paid to Borrower, and unless such agrcement is made or applicable law
<br />iegttirs such interest to be paid, Lender shall not be required to pay Borrower any interest er earnings on the Funds. Lender
<br />shalt give to Borrower, without charge, an annual accounting of the Funds showing credits and debits [o the Funds acct the
<br />pttt'pose far which each debit to the Funds was made. The Funds arc pledged as additional security for the sums secured
<br />by tltia Mortgage.
<br />if rho amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the dire dates of taxes, asaesetrients, insurance premiums and ground tents, shall exceed the amount required to pay said taxes,
<br />at~sements, insurance premiums attd ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaM to Borrower or credited to Borrower nn monthly installments of Funds. If the amount of the Funds
<br />held by Leader shall trot be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall due,
<br />Borrower shall pay to [.ender any amount nectssary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all Burns secured 6y this Mortgage. Lender shall promptly refund to Borrower any Fund:
<br />held by L.etider. If utidu paragraph !8 hereof the Property is wld or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Property or ire acquisition by Lender, any Funds held by
<br />Lender ai the dine of application as a credit against the sums secured by this Mortgage.
<br />3. Ap~Ycatfer of hytawsats. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Mote and pat•agnphs 1 and 2 hereof steal! be applied 6y Lender first ~n payment of amounts payable to Lender by Borrower
<br />uueder paragraph 2 hereof, then to interest payable on the Nolc, then to rtes principal of the Nate, and then to interest and
<br />principal on any Future Advances.
<br />4, t,`Msgm; iiwis. Borsower shall pay ail taxes, assessments and other charges, fines and impositions attributable to
<br />the 1?raperty which racy attain a priority over this Mortgage, and leasehold payrttenta or ground rents, if any, in the manner
<br />prtvided under paragraph 2 hereof or. i( not paid in such manner, by Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all notices of amounts duo under [his paragraph, slid in the event
<br />BrWTpwor shall taake payment directly, Borrower shall promptly Furnish to Lender raceipis evidencing such payments.
<br />Borrower shall promptly discharge any Tien which has pnarity aver this Mortgage: provided, that Harrower shall not be
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation ser.ured by
<br />such lien io a manrar acceptaltte to Lender, or shall in good faith contest such lien try, or defend enforcement of such lien in,
<br />legal procoediags which operate to prevent the enforcement of the Ilan or forfeiture of the Property or any part thereof.
<br />S. ifi~ lwtfnce. Borrower shall keep the amprovcments now exisang ar hereafter erected on the Property insured
<br />agairutlasa by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
<br />sad in such amounts and for such periods as Lender may reyuire; provided, that Lender shall not require that the amount of
<br />stscli coverage exceed that amount of coverage regwi-ed to pay the wins secured by thix Ma»gage.
<br />The ittsurarice carrier providing the iasursnce shall ba chosen by Borrower subject to approval by Lender, provided,
<br />titat such approval strati oat be unreasonably withherd. X11 premiums on insurance policies shaii be paid itt the manner
<br />provided ostler paragraph :hereof or, if rapt paid in such maniter, by Borrower making payment, when due, directly to the
<br />iasuraoct: carom,
<br />Hill itsaannce ptslictti sad renewals thereat' shall be in farm scceptsbte to Lender sad shall attclude a standard martgsge
<br />ht facer of in f ~~iwFetaCli: to. t.ara-Lzr. ~t~r she:! have the rig;tt :a hold :d5c poii~ioa .s d rr:autait theraaf,
<br />sad Borrower shall promptly ferraiayi to Leader ail renewal nowt: ses and all reccipu of paid premiums. In the oven! of loss,
<br />~ shaii give ptomfx aatira: to the irisura€tce carrier amt Lender. t_rnder may make prao# of lass i# oat erode premptty
<br />by Bra.
<br />Udaa t..a+der acct Borrower otherwise agree in wriuag, insurance proceeds shaii tx applied to restoration ar repair of
<br />the FAopaaty dataaaged, provided such ratondon or repair rs ttronomicaHy feasible ttnd the security of this Mortgage is
<br />not thereby ienpairtxf. It such restoration of repair is oat economically feasible or if the security of this Mortgage would
<br />6e impttited, the inaunace ptoceafs shalt be applied to the sums secured by this Mortgage, with the excess, if any, paid
<br />to Borrower. If tlw Property is abandoned by Borrower, a?r if 1latrower tails to resposxi to Lender within 30 days from the
<br />date tiMiix is mailed by Lander [a Borrower chat the itisunttce carrier offers to settle a claim for insurance trenefits, Lender
<br />is aWhaciand to collect acct apply the insiitaaca prtteea~ at lender's option either to restoration or repair of the Property
<br />or to tars stirm seared by [his MortgattDe.
<br />Uttlms Lcadtr amt Borrower othetvviae agree in wndtig, any such application of proceeds Io pnncipat shall not extend
<br />:rr ooatporte lbws due dace of the rtrttrtthly intullnaen[s referred to in paragraphs !and 2 hereof or change the amount of
<br />ouch iasWlmeaN. U wader psragraph 18 heron[ tba Property is acywrcd by lender, all right, title sled interest o[ Borrower
<br />is nod to soy irgatrance pdit:ias sad is and to the ptocteda thereof resulting from damage to the Property prior to the sate
<br />or a~taisidoa shat! pain to fsarfer to the extent of the sums securesi by this Ma»gage imtttediatcly prior to such. sale or
<br />acgiwitiaa.
<br />i. IhNarralMts std MtMal~samtsee at lrrepsaty; I.naeitoldat Co+.deatsirlrnst Pheesd UW ilevetapuewN. Borrower
<br />sfsatl keep rho Property is good repair end shill trot commit waste or permit ampatrtttent or deteriantion of the Prope»y
<br />sad Yratl CCmply with the ptrorniaaa t>t any Issae if this Mortgage is on a ieaaehcatd. If this Mortgage u on a unit in a
<br />cvadarrium or : pfannad wait devclttpmcnt, Borrower shall perform all of Borrower's abiigadom under the declaration
<br />~ snrsaaals t,~erttiag r=r gov£tning siw condominium ar plartsed unit development, the by-laws and rzguiatious of the
<br />~a or pLaasd unit development, and conriiriient doeunients. !f a condominium or planned amt dcvclaptnent
<br />ridtx is eaectrted by Btwmwttr sad recattkd together with this Mo»gage, the eaveriants and agreements of such rider
<br />shall is inempairatad into sect abaft aaaorad and suppiernent the covenants and agreements of this Mortgage as if the rider
<br />xtete a part lteraal.
<br />'1. ~ at id's T• It ttorrawer faits to trertarm tip covenants and agreeotenta cwttamcc} in this
<br />or if says action of procYediag is cunuinenced which matrriatlp aftecta Lender's interest in the P~opr»y,
<br />~, btu rtat lirtnted ta, etttinent domain, ittapfveticy, code cnforceniem, ar arrangements ar proceedings anvoiving a
<br />brdl~upi Or deoedpit, tirsn Lender at LesNkrc's opttan, upon mxice ro Harrower, may make atu:h appearances, disburse stxh
<br />siuala rrtke such aetiim as U necessary to prstca:t l.cndet"t antorest, iaCluding, but not limned to, disbtinement of
<br />irits~rIIe~yrs fww sad entry upon tips Prrtpe»y io make repairs. It t_cttdz:r rcquircd murtpge insurance as a
<br />of Ilia boa raeCtged by this Mcut Flarrvwer abet! pay the premiums required to ntaitttStn such
<br />~ to eft until sitth lime as the regttittrmaat for such uuEUrsrtce tarrntiniata3 rn accor~ittce .•'rth BRratwer's and
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