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8].-- ut~593~
<br />UNIFORM Cavt?lYANTS. B'oribwer and Lendei covenant and agree as follows:
<br />1. Fary6ten: of Prine7i)~ r~ halerest. Borrower shall promptly pay when due the principal of and interest on the
<br />itsdkbtedtSeaa eVidericdd 6y the Nate, prepayment and late charges as provided in the Note. and the principal of and interest
<br />on any Future Advances sectucd by this Mortgage.
<br />S. Fmtds for'iues aad Ieantmee. Subject to applicable law or to a written waiver Gy Lender, Borrowee shall pay
<br />to Lender on the day monthly instal-ments of principal and interest are payable under the Note, trniil the Nota is paid in full,
<br />a strut (herein "Funds") equal to one•twelfth of the yearly taxes and assessments which may attain priority over this
<br />MoRgage, and grotmd rents on [he Property, if any, plus one-twelfh of yearly premium installments for hazard insurance,
<br />pluti.otte-twelfth o€ yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />time to dms by Lerakr on thr basis of assessments and bills and reasonable estimates thereof.
<br />'the Fattds shall be held in an institution the deposits or acccurtts of which are insured or guaranteed by a Federal or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds en pay said taxes, assessments,
<br />insurance premiums ar:d ground rents. 1-ender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Lander to make such a charge. Harrower and Lender may agree in writing at the time of exeCUGOn of this
<br />Mortgage that interest on the Funds shall `te paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not he required to pay Borrower any interest or earnings on the Funds. ixnder
<br />shall give,to Borcower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and !t:e
<br />purpose 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 artwunt 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, insurance premiums and ground rents as they fall due. such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to &xrower on monthly installments of Funds. If the amount of the Funds
<br />hold by Lender shall not be sufficient to pay taxes. assessments, insurance premiums and ground rents as they fall dc:
<br />Borcower shall pay to Lender any amount necessan to make t,; 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 sums secured by thts Mortgage, Lender shall promptly refund to Borrower xny Funds
<br />held by Lender If under paragraph IS hereof the Property Is wid or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than imttrediatelp prior to the ,ale of the Property or its acgwsition by Lender, any Funds held by
<br />Lender at the time of application as a credit against the sumx secured by this Mortgage.
<br />3. AppBcatlorr of Payments. Unless applicable law prnviJes otherwise, all payments received by Lender under the
<br />Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable io Lender by Borrower
<br />under paragraph 2 hereof, then to interest payable on the Nate, then to the principal of the Nate, and then to interest and
<br />principal on any Future Advantxs.
<br />Q. Chargea; IJe~. Borrower shall pay all taxes, assessments and other charges. fines and impositions attributable to
<br />the Property which may attain a priority over this Mortgage, and leasehold payments or ground rents. if any, in the manner
<br />provided under paragraph 2 hereof or, if not paid in such manner, 6y Borrower making payment, when due, directly to the
<br />payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly. Borrower shat! promptly furnish to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shall not be
<br />required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
<br />such lien in a maztner acceptable to Lender, or shall in goad faith contest such lien by, ar defenJ enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
<br />5. Hazard Iaaaraace. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
<br />agaimt loss by fire, hazards included within the tern[ "extendeJ coverage". anJ such other hazards as Lender may reyuire
<br />and in such amounts and for such periods as Lender may require; providoJ, that Lender shall nut reyuire that the amount of
<br />such coverage exceed that amount of coverage required to pay the Bums secured by this hfortgage.
<br />The insurance carrier providing the insurance shall he chosen by Borrower subject to approval by tender, provided.
<br />that such approval shall not be unreasonably withheld. All premmms on insurance policies shall be paid in the manner
<br />provided under paragraph 2 hereof or, if oat paid in such manner, by Harrower making payment, when due, directly to the
<br />uratratrCe carrier.
<br />Ailiratata~sr policies an~+ refs=orals thereof shall to in form :rcceptah4. to l.enJer ;snD shall inch+De a standarJ mortgage
<br />clause in favor of and in form ac~~zptable to Lender. tt:nder .hall have the right to hold the policies anD renewals thereof,
<br />anti ~kyrtawEr Malt pmanptiy furnish to Lender ail reROwal nauc~ and all r~eipts of paid pr~r.:iums. In th4 tivarn[ of lass.
<br />Bomuw=r shall give prompt naiice to ttte ltuurancu carttor atrJ Lc:ttDer. Coulter ruay make proof of foss if oat made psamptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance pnxceJs shall be applied to restoration or repair of
<br />the Property damaged, provided such restureuon or repair is etonumically feasible and the security of this Mortgage is
<br />[tot thereby impaired. If such restoration or repair is nut economically feasible or if the security of this Mortgage would
<br />bo impaired, the insurance proceeds shall be applieJ to the sums soured by this Mortgage, with the excess, if any, paid
<br />to Borrower, li the Property is abandoned by torrower, or if Borrower fails to respond to Lender within 3i) days from the
<br />datr, notice is mailed by Lender to Borrower that the insurance carrier utters w settle a claim for insurance benefits, Louder
<br />is authorized to collect •and apply the insurance proceeds at LenJor's option either to restoration ar repair of the Property
<br />or to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree m writing, any such application of proceeds to principal shall not extend
<br />or postpono the due date of the monthly installments referred to in paragraphs I anJ 2 hereof ar change the ammrm of
<br />such inaWlments. It under paragraph Ig hereof the Property rs acyuircd by Lender, all right, o[le anJ interost ut Harrower
<br />in and to aay insurance policies and in anJ to the pntceatis thereat resulting from Jantage at the Property prior to the sale
<br />or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage inunediately prior ro such safe or
<br />atgttiaitian.
<br />6. 17reaervatloa atsd Maiatettanre of Property; Leaseholds; Condominiums; Planned Unit Ucveloptttents. Borrower
<br />aha11 keep the Property in goad repair and shalt not commit waste or permit impairment or deterioration of the Property
<br />and shall Comply wish the p[avisians of any lease r! this Mortgage rs on a leasehold. I[ this !vtmtgage is on a unit in a
<br />condominium ar a planned unit deveWpment, Boeeowce shall perfi.rnr ail of Borrower's obligations under ttte decfafauan
<br />at covenants creating e[ governing the condeounium or planneJ wet development, the by-laws anJ regulations .,t the
<br />cottdumitrium or planned unit Development, sod cans[itucnt duwntents. II a ronduminium ar planned unu dct tdoputent
<br />rider is exocuted by 19orrowor and recorded together with this Mortgage, rho ~ucenants auJ ageccutcnts of such ltJcr
<br />shall 6C iocorpotated into artd shall amend anJ supplement the covenants and agreements a,f this Mortgage as ~! the csJer
<br />were a part hereof.
<br />'7: IPraNCtitaat trt Leudrer's Security. If BOITVMer farts to perform rho covenants anJ agrcemouta contarnrd in thrs
<br />MOrtgige. Or If any dClian or p[txet:ding tS atmmenccJ which male[ially of{Ceti LCnJCra ntterC.+t In tltC P(llpt.'rt},
<br />including, Gut oat littrited ta, eminent domain. insahcncy, rude cntorccnunt, ur arrangements or puneedings mvutv'urg a
<br />bankrupt or decedent, then Lender at Lendrr's option, upon notice to Hun ower, me) make such appcartnce~, disbunc ,uch
<br />sours and take such acUan :tq is necessary to pnxcct Lender', interest, including. but not IimrteJ to, drshursemcw of
<br />reasonable attomcy`s fees and entry upmt the Property to make rcpain. If Cruder ieyuircd oumgagc ntvur.utcr n. .i
<br />lWtditl8n of making ShC Igarl ReeweJ by thll tit Ur't~ale, HV(rUw Cr sh:rtl pay the prttniUllia It`gW rl'J (P nla{glal^ wC}t
<br />irtStrrartS4 1tt l=f'~Ct aRttl Skl6t! rtm4 aS the rC~t14r4'fnCnt far antitt Ir14af+lnt'C f4trttt[lalt'~ lR :ts'tittrdanEt` w'tttl Hal rLwCig :S11D
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