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Borrower and Lender covenant and agew as ldlows: ~ -
l. Pa,>raaR of PeineiM! std Iaterwt. Barowrr shell promptly Pay wben dw ~ pclndpal of sad inbnst oa tbs iadsbtsdnsss
evidsnosd by tM Note, perpa,~rmset and late chargsa asprovidrd is tM Note, and the principal a[and intsrrato~n ally Fgturs Advanaa aecand ~
~ Ptienda for'Pa:er wd Inaararros. 3ubjrd to applicable law a b a written waiver by Lender. Borrower shall pay to Lsndet on the day ~ l
. monthly inalaWnenb o[principal and interest as py?al~ls under the Hots, until tM Note is paid is full, a sum (hre'dn "F4nds'~ equal tD on?
c.?elAh of tbs~rsarb? fusee and aasessaaeats wbieh may attain priority over this Moetgags, and ground crab op the Pwpsebr. if any. plus on? ?
tweMhof auainstallmsngtarAasa~ains~usu~.r L-~'.'-='~'•°•~•t~,•iw.ralleressforemortta[siasos~ol.ifaRl?•.. ~
all as rsaaonabtj? sstimatrd initialb? and flieoaa timr to time by Leader ~ the basis of asaasaaents and lulls and reasonable eatimatsa theswL
'1Ls Eructs shalt br held to an iastitutioa the deposib or aeoounb of which are insurd a guaranteed by a Fsdrral or Stab sgrney
(ineduding Lender if Cruder is web an iastitnt;oa~. Iwadsr shall apply the Fonda to pay said taxes. assesemsnb. insurance permimas and
ground rents. Iwndsr may not dairgs foe so bolding and applying the Funds, analysing said account, or vsrityiag and ooerptling said
assessmenb sad bi1L, unless Lender pays Borrower interest oa the t7rads and applicable Lw permib I.snder to make aud? a charge. Boerowst
and Lsadrr mq agrsr in writing at tbs tires of ssscntion of this Mortgage that intrreat on the Eructs shall bs paid to Borrower, and unless
such agreement is made oe applicable law reoaiiw wch interest to be paid, Leader shall not be required to.psiy Borrowr: any interest a
earnings on the Fonda. Leader shall give to Borrower, without charge. an anneal aooounting of the Frrids slwwing crrdib and debib to the
Funds a~ tM purpose for whid? each debit to the Frads was made. The Eructs are pledged as additional sscarity for the sums securedbythis -
~ tof the Funds heldby Lender, together with the future monthlyirurWlmenbofFrndspayablepriortothedwdatesoftazss. -
assessmenb. insmrane premiums and ground rent. shall esoaed the amount r+egaired to pay said lases, aaaameab, iasuranoepremiums -
and ground raab as they fall due. sncb ezeea shall be, at Borrowara option. either promptly repaid to Borrower or aedited to Borrower on
monthly insbllmsab d Fonds. It the amount of the F'nnds held by Leader shall not be sufficient to pay taxes, assessmeab. insurances
premiums and ground reab a• they fall due,ppB~o~rr~o~w~er sha.,ll~p{~.ysto~~Lven~d~er arty amount aeoasary to make up the d~fiCiarcy within 30 days
t~._ aL~ d~~w ~~M ~ !~5~;1~ t11Y L~~der tQ OO[N~IB regnet~rn8 t therm
iwiu wwr _ _ _ _ -
Upon paymrat in Poll of all rams secured by this Mortgage. Lender shall promptly reined to orrower say iu~ iwwi bJ -
paragrapb 18 hereof the Property is sold or the Property is oWerwise acquired by Lender, I.enda shall apply. no later than immediately prior
to the sale of the Propat3r or its acquisition by Lender. any Fonda held by Lender atthe time ofapplication as a credit against tbesums aecnred .
by this Mortgage. ~
3. Application of Payments. Unless applicable law provides otherwise. ell paymenb received by Lender under the Note and
paragraphs 1 and 2 hereof shall be applied by Lender Furst is payment of amounb payable to Lender by Borrower nude: paragraph 2 hereol,
then b interest payable a~n the Note. then_to the principal of the Note. and then to interest and principal on any Fbtnre Advances.
4. Charges; Lieu. Bocrowcr shall pay alt to:es. aaaeasm~ts and other charges, ff nee and impositions attributable to the Property which
may attain a priority over this Mortgage, and leasehold paymenb or ground rents, if any. in the manner provided under Paragraph 2hereofor,
if not paid in such manner, by Borrower making payment. when due, directly to the payee thereof. Borrower shall promptly tarnish to Lender
all notices of amounb due under this paragraph. and in the event Borrower shall make payment directly, Borrower shall promptly furnish to
Lender reoeipb evidencing such payments. borrower shall promptly discharge any lien which has priority over this Mortgage; Provided. Wet
Borrower shall sot be required to discharge any such lien ao long as Borrower shall agree in writing to the payment of the obligation secured by
such lien in a manner aoaptabk to Lender, or shall in good feral contest such lien by, or defend enforcement of such lien in, legal proceedings
which operate to prevent the enforcement of the Iien or forfeiture of the ProPaty ce any part thereof
5. Hazard Inwraace. Borrower shall kcep the improvements now existing orhereafter erected on the Property insured against loss by
fire, hazards included within the tam "extended coverage," and such other hazards as Lender may require and in such amonnb and far such .
periods ss Lender may require; provided, Wat Lender shall not require Wat We amount of such coverage exceed Wat amount of coverage
required to pay We sums secured by this Mortgage.
The Insurance carries providing the insurance shall be chosen by Borrower subject to approval by [.ends; provided, that such approval
shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner provided under paragraph 2 hereof or, if
not paid in such manna, by Borrows making payment, when due, directly to the insurance carries.
Alt insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage clause in favor of
and in form acoptable to Lender. Lender shall have We right to hold We policies and renewals Wereof,and Borrowsahall promptly fumisl? to
lender all rcaewal notices and all receipts of paid praniums. In the event of toss, Borrower shall give prompt notice to the insurance carrier
and Leads. Lender may make proof of lose if not made promptly by Borrows. -
Unlea Lender and Borrovrs oWerwise agree in writing. insurance proceeds shall be applied to restoration or repair of We Property
damaged, provided such restoration or repair is economically feasible and We security of this Mortgage is not thereby impaired. If each
restoration or repair is not economically feasible or if the aecnrity of this Mortgage would be impaired, We insurance proceeds shall be applied
to the sums secured by this Mortgage, wild the excess. if any. Paid to Borrower. If the Properly is abandoned by Borrows. or if Borrows fails to
respond to Leader within 30 days from the date notice is mailed by Lender to Borrows that the insurance carrier offers to scale a claim for
inaurancee benefits, Lends is authorized to rnlled and apply the insurance proceeds at Lender's option ether to restoration or repair of We
Property or the sows secured by this Mortgage.
Unless Fender and Borrows otherwise agreein writing, any such application of proceeds to principal shall not extend err postpone the due
date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of each installmenb. Uunder paragraph 18
hereof the Property is acquired by Lends, all right. title and interest of Borrower in and to any Insurance policies and in and to We proceeds
thereof resulting Flom damage to Properly Prior to the sale or acquisition shall pass b Lender to We extent of the sums secured by this '
{ Mortgage immediately prior to each sale ar acgnisition. -
6. Preservation end Maintenance of Property; Leaseholds; Condominams;Planned Unit Developments. Borrowershatl keep
the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and.ahall comply wild We
provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a condominium or a planned unit development,
Borrows aha11 perform all of Borrower's obligations ands the declaration or covenants creatingor governing We condominium or planned
unit development, the by-laws and regulations of the condominium or planned unit development, and ooostituent documents. It a
condominium or planned unit development rids is executed by Borrows and recorded togeWer wild this Mortgage. We oovenanb a~
agreements of each rids shall be incorporated into and shall amend and supplement the covenants and agreements of Win Mortgage as if the
rider were a part hereof.
7. Protection of Lender's Security. If Borrows fails to perform We oovenanb and agreemenb contained in this Mortgage, or ifany -
s action or proceeding is commenced which matsislly affects Lender's interest is the Property. inducting, bat not limited to, eminent domain.
insolvency. node enfor+oemeat, or errangcmmts or proceedings involving a bankrupt err decedent, alai Lends at Leader's optionnpoa
notice to Borrower may make such appearances. disburre such sums and take each adios a; is necessary to protect I.enda~s inleersi,
incinding, bat not limited to, disbnnaneat of reawaabk attorney's fees and entry upon We Property to make repairs. U Lender required
mortgage iruurance as a condition of making the loan scarred by this Mortgage. Borrows shall pay We premiums required to maintsia
such insurance in effect until sadt time as the requirement for such insurance terminates in accordance wild Borrower's and Lender's
written agreement or applicable I,aw. Borrows shall pay We amount of all mortgage insurance premiums in the manner provided ender
Paragraph 2 hereof.
Any amoanb disbursed by Lends persuant to this paragraph 7, wild intent Wereon, shall become additional indebtedness of
~ Borrows scarred by this Mortgage. Unlea Borrows and Leader agree to older terms of Payment. sorb amonnb shall be payable upon
notice from Lender to Borrower requesting Payment thereof; sad shall bear interact from the date of duburaement at the rate payable from
t time to time on outstanding principal ender the Note nnlew payment of interest at such rate world be contrary to applicable law, in which
event such amounb shalt bear interest at the highest rate permissible ands applicable law. Nothing contained in this paragraph 7, shall .
require Lends to incur any expense or take any action her+ennds.
8325 P~~~,4
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