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~C- rtCaar~ec~
<br />~l-t~u5'~17 fi~55`~~
<br />Uxttaatt~a C:ove>yenrra. Borrower and Ltader covenant and agrea as follows: ~ ~ --
<br />L 1Pa~awewt e# trod IMs.csT. Borrower shall promptly pay when due the prtncipal of and interest on the
<br />indcbtedtteas evidkaced by the Note, prepayraeat attd late charges as provided is tht Note, and the principal of and interest
<br />can any Future Advances secured by this Mortgage.
<br />2 Fwwds frar'Pitta~ ctrl Itartrtaasee. Subject to applicable law or w a written waiver by Lender, Borcower shall pay
<br />W Leader oa the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a sun (herein "Funds") equal to one-twelhh of the yearly taxes and assessments which may attain priority over this
<br />Mottgssge, and ground renffi on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
<br />phn one-twalfth of ye~Ny yremium y_ ~llments for mortgage insurance, if any, alt as reasonably estimated initially and from
<br />dttx to tune by Leader on the basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
<br />slats agency finctuding Larder if Lender is such an inniitution). Lender shall apply the Funds to pay said taxes, assesamaiYs,
<br />irffiuiatrca premiums and ground rents. Lender may not charge far so holding and applying the Funds, analyzing said account,
<br />or verifying attd compiling said aasesstnents and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agrce in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall he paid to Borrower, and unless such agreement is made or applicable law
<br />requioes sash interest to be paid, Leger shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the
<br />pttrpnse for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured
<br />by this Mortgage.
<br />If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, imuraace premitms and ground rents as they fall due, such excess shall be, at eorcower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Leader shall not be sutBcient to pay taxes, assessments, insurance premiums and ground rents as they fall duo,
<br />Borrower shall pay to Letrder any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Harrower requesting payment thereof.
<br />Upon payment in full of all sums secured by this Mortgage, Lender shall promptly refund ro Borrower any Funds
<br />held by Lender. If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
<br />Lender ae rho time of application as a credit against the sums secured try this Mortgage.
<br />3. Aw d lay~eaM, Unless applicable law provides otherwise, all payments received 6y Lender under the
<br />?:etc and paragraphs i and i hereof chats be applied by Lender first in payment of amounts payable to Lender try Borrower
<br />larder paragraph 2 hereof, then to interest payable an the Note, then to the principal of the Note, and then to interest and
<br />principal oa any Futtue Advances.
<br />d, Ciwrges;.Llaws. Borrower shays pay alt taxes, assessments and other charges, fines and impositions attributable to
<br />rho Property which may attain a priority over this Mortgage, and leasehold payments or ground rents, if any, in the tnantrer
<br />provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due. directly to the
<br />payee thereof. Horcower shall promptly tarnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borwwcr shall promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which hoc priority over this Mortgage; provided, that Borrower shalt eat be
<br />required to discharge any such lien ,o long as Borrower shall agree in writing to the payment of the o6ligatian secured by
<br />such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the hen or todeiture of the Property or any part thereof.
<br />5. 1Naaard lltsswswwce. Borrower shall keep the Improvements now existing or hereafter erected on the Property insured
<br />against loss by tlrc, hazards included withtn the term "extended coverage", and such other hazards as Lender may require
<br />and in such amounts and for such periods as 1_ender may require; provided, that Lender shall nor reyuirc that the amount uF
<br />such coverage exceed that amount of coverage required to pay the sums orated by this Mortgage.
<br />The itraurance cattier providing the insurance shall lac chosen try Harcawer subject to approval try Lender; provided,
<br />that ouch approval shag not lee unteasonahly withheld. A!! premiums on insurance polic:res shall be paid to rho manner
<br />provided ttnda=t parttgtaph 2 hereof ar, rf eat paid in sash manner, by Borrower making payment, when due, directly to tits
<br />insurassca carries.
<br />AB inwranec perti:.iea amd retrewals thereof shall rte in farm aecepratrie ro t_ender and shall include a standard tnGrigago
<br />slam in favor of and is form ~ceptatrk to Bader. I~nder shall have the right to hold the policies and rettewats theretrf,
<br />attd Barn~r shall p.-~ptly furttgh to Leader ail re-rowai rrotrt<<s anti ail receipt tit paid I±remiums. Bra =.no event of Toss.
<br />HaKKlrvet shall give fx'ompt notice to th~€ itssurartce carrtier atrst Le~tdYr. lender nwy In~ke prs~±f of l~s i1 eat madx pr+>snptly
<br />by Horrsrwer.
<br />Utdass Lender and Harrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restonuan or repair is economically feasible and the security of this Mortgage is
<br />not thereby impaired. If such restoration or repau is not snotwmicalyy feasible or if the security of this Mortgage would
<br />6e impaired, rho insurstra proceeds shall be applied to the sums secured by thts Mortgage, with the excess, if any, paid
<br />to Borrower. if tbo Property is abandoned by Borrower, or if Borrower fails to respond to Lender withio 30 days from the
<br />date trance is mailed by Leader to Borrower that the insurance canter often to settle a claim for insurance benefits, Lender
<br />is authorized to cotMct and apply the insurarx:e procaais at Lender's option either to restoration or repair of the Property
<br />or to rho ttttrns sex:ured try this Mortgage.
<br />Unless Lender and Borrower otherwise agree In writing, any such application of pra;ceda to pnnctpal shall not extetrd
<br />or pcstpwre the due date of the rttonthty inuallments referred to in paragraphs I and ~ hereof ar change the amount of
<br />such itrsWlrnents. If utrder paragraph IB hereof the Property is acyuired by Letrder, all rtght, title and interest of Borrower
<br />in acrd to any insurance policies and in and to the praceals tlxrouC reauiung from damage to the Property prtur to the sale
<br />or acquisition shall pass to Lender to rho extent of rho runts secured by this Mortgage imntetliately prtar to such sale or
<br />aaqulaitiat.
<br />gt. !'sasarraYew awtl MfiMtoarfsca o! PsupertY: Letasahuldst Corwlorwiwiwsast Phtewed UwN Devela*asewts. Barrawcr
<br />shall keep the Property is good repair and shall trot cottrmit waste or permit impairment ar deterioration of the Property
<br />l ~ wltl: tlri provisi~s of etty lei it ihrs '~lk`rtg:.a~ IS ors s leaseltafd. tf this MtrrtgagtF is ,ur a IFnit to a
<br />etwsdomittiiurt ar a plantxtl unit developtncrst, Borrower shall perform all of Borrower's obligations under the decyaraiian
<br />or covownts creating or governing the can~iminium or planned trait development, the by-laws and rogulatiaas cif the
<br />erxtdominitprtt arplanned unit developatent, and constituent documents. 11 a condominium or planned unit devekrpment
<br />rider a eaesuted by Barrawcr and rccor~d wgcther with rhta Mortgage, the covetants and agreements of such rider
<br />shalt ba incorpontad seta and shall ascend and supplement the covenants sod agreements of this Mortgage as tf the rider
<br />ware a part 4emtd.
<br />7. ihatiactla~ ai L.awdts's SeewritY. If Harrower fails to perform the covenants and agreements containcxl in this
<br />Mortgage, of if any artist or proseoding is comttreuced which materially affects Lender i interest in' the property,
<br />ittchrd6ng. but cwt limiud ta. errrinerrt domain, insolvency, eade enforcematt, or arrartgetnsnffi or pra'eedings involving, a
<br />Ctatalerupt or decedent, then lender ar I-eadar's option, upon notice to Harrower, may make such appearances, dishutae such
<br />soma tats take suG6 aCfit~t a: b ncacossary to protect Lender's Inrcreat„ trtctuuding, but Ixst limited to, disbursement of
<br />reasaitabEo attottsay'a fats and entry upon the Prapersy ro make repairs, IC lxrxicr required trrortgage insurane€ as a
<br />::7nd'.tior, .°•,` ~cit~ rho r~ii'i se:.ured by this Mortgage, Borrower shall pay the premiums requtrcd to ntaintarn such
<br />iras3a to eRect rrrriil sr~h tip as lire rcquirorttettt ftsr sue h insurance sarmtttates In accordance with 6oraswer s and
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