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UNIPOJtM COV@NANTS. BOffOWCf ~pt~ L.Cfl(ICf CUVtllilll 811tI :1gfeC if5 IOIIpWS:
1. Paya4e~t ot Prisclpal aad lateresl. Borrower shall prcimptly psy when duc thc principa{ o( and interest on the ~
indebtednets evidc~d by the Note. prepayment and late chargea a. pruviJed in the Note. and the principa! af and intenst
or~ aay Future Advances secured by this Mortgage.
2. l+ti~ds, [or Tues aad iasrraece. Subject to applicabie !aw or to a written waive~ by Lender, Borrower shall pay
to l.ender on ihe day mon~hly installments of principai a~d interest arc ~+ayabk undcr the Note. until the Note is paid in fuil.
a:um (hercin "Funds") cquai to one-tweltth ai the yearly taxes and assessments which may attain priority over this
MortgaEe, and ground renu an the Pmperty. if any, plus onc-tweltlh of yea~ly premium installments for hazard i~surance.
plus one-twelfth of ycarly premium installments for marigagc insurance. if any. all as reasonably estimateJ initially and from
time to time by l.endcr on thc basa of asscxsmcnts and bills and re~sanabk estimates thercof.
The Funds shall bc held in an institution tix: deposits or acrouots of which are insured o~ guarantecd by a Feder~l or
state agency (including Lender i! I.ender is such an institution). l.ender shall apply the Funds to pay said taxes, assessments,
insurance premiums and ground reMs. Lendtr may no~ charge for so holding and applying the Funds. anal~zing said account,
or verifying and campili~g said assessments and hills. unless Lender pays Borrower i~terat on the Funds and applicable law
permits Lende~ to make such a charge. Bo~rawer and Lender may agrec in writing at ~he time of execution of this
Mongage that interest an the Funds shalt be paid to Horrower. and unless such agrcement is made or applicable law ~
~ requira such interest to be paid, i_ender:hall nat be required to pay Borrower any interest ar earnings on the Funds. [_ender
shall give to Borrower, without charge, ao anm~al accounling of the Funds showing credits and debits ta the Funds artd the
purpox for which each debit to the Funds was made. The Funds are pledged as additiona! security for the sums secured
by this Mortgagc.
lf the amount of the Funds held by Lender, together v?•ith the future monthly installments of Funds payable prior to
the due dates of taxes. as.ussmeots. insuran~c premiums and ground rents, shall ecceed the amount required to pay said taxa.
asse,ss~nents, insu~ance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either '
pranptly repaid to Borrower or credited to Borrower on monthly inst~llments of Funds. If the amount of the Funds ~
held by Lender shall not be suflicient to pay taxes. assessments, ins~irance prcraiums and ground rents as they fall due.
Borrower shall pay to Lender any amount ~:e~sary to make up the dcficirncy within 30 da~s from the date notice is mailed s
by Lender to Borrower requesting payment thereof.
Upon payment ia ful! of a!1 sums secured by this I?1o~~gage, I.endcr shall promptly retund to Borrower any Funds
held by Len~ler. If under paragraph 18 hereo( the Property is k~ld or the Propcrty is othetwise acqaired by Lender. Lender
shall apply, no later than immediatel~• prior to the salc of Ihe Propeny or its acquisition by -l.e~der, any Funds held by
_,.Leader at the time af application as a c~lit against the sums securcd by this Mongage.
3. Applicatioa of Psyaents. Uoless applicable law provides otherwise, all payments received by l.ender under the
Note and paragraphs 1 and 2 hercof shall be applied by !_ender first in pay~ment of amounts payable to Lender by Barrower
under paragraph ? hereof, then to interest payablc on the Note, thcn to thc principal of the Note, anJ then to interest and
principal un any Future Advaoces.
4. C6arRes; Lieas. Borrovrer sh:~ll pay aU taxcs, aaussments and athe~ charges, fines and imp.?sitions attributable to
the ~'roperty which may attain a priority over this Atortgagc, and leaschold payments or ground,rents, if any, in Ihc manner
prt~vided unJer paragraph 2 hercot or, if not paid in such manner, by Borrower making pay~ment. Khen dur, directly to the
payec therco(. Borrower shall promptly iurnish to Lender a11 natices of amour~ts due under this paragraph, and in the event
Bormv?•er shall male pay~ment dire~:tly, Borrower shall promptly tumish to Lender rereipts evidencing such payments.
Borrow•er shai! promptly discharge any lien which has priority ovcr this Mortgage: proviJed, that Bocrower shaii not be
~equired to discharge 1ny such lien so long as Borrower shall agree in writ~t~g to th! payment of the obl'egation secored by
~uch licn in a manncr acceptable t~~ Leader, or shall in gcx~d fa+th contest such lien hy, or defeod enforcement of such lien in,
legal pnxcedinqs µ•hich operatc to prevent thc enforcement of the 6en or [orfeiture of ~he Prope[ty or any pari thereof.
S. N~r~erd lmur~nce. ~rrower shall k~•ep thc improvemeMS now cxis~ing or hercaft~r cr~~:ted on the Propcrty insured
against loss h~• fire, hazards includ~d w+thin the term "~~tended covcrage", and such other hazards as Lender may reyuire _
and m such amamtc and fur such periods as Lender may reyuirc; pr.~videJ. that l.end~r shall nc :equire that ~he amount of
such coveragr e~ceed that amount of coverage required to pa~~ the cums se~:~~r~d by this ~1ost~a~e_
The insurance ~arrier providing thc insurance shall be cho~cn by Borrower subject to approval fiy Lender, provided,
_ that such approval ~hali not be un~asonably withheld. Atl prcmiums on insurance policies shall be paid in the manner
pravided und~r paragiaph 2 hereof or, if not paid in such manner. by Burrower making payment, when due, directly to the
insurance carner.
Al) ipsuranee policies and reneh~als thereof shall be in forin acceptable to Lender and shall include a standacd mortgage
clause in favor of and in form acceptable to Lender. Lender ~hall have the right to hold the ~?olicies and rcnewals thereof,
and Borrower shall promptly furnish to [.ender all renewat notices and all receipts of paid premium+. In the e~•ent of loss,
Borruw•er shall give prompt notice to tnc ensurau~e carricr and l.ender. Leeder ma~ make proot of loss if not made prompt{y
b~• B~rrower.
Unless Lender and BorrUV?er othen~~ix: agrec in wnting, insurance proceedc shall be applied to restoration or repair of
the Property damagcd, pro~ ided such restorat~on ~r repair is economically feasible and the sctiurity of thic Mortgage is
~ not thereby impa~red. If su:h rest~rauon or repair ~s not econumically feasible or it the security of this Mortgage would
~ be impaired. the insurance proceeds shall be applieJ to the sums secureJ by this Mortgage. W°i~h the eacess, if any. paid
j to Borrowrr. If the Property is abar,doned h~ Borrower, or if Borrov?~er faits to respond to Lender within 30 days from the
~ date notice ic maiied by Lender to Borrower th:~t the insurance carrier ot~ers to setde a claim for insurance benefits, Lender
l is authoriud to collect and apply the insurance proceeds at l.ender's option either to restoration or repair of the Prope[ty
` ur to thc sums sccured b~• this 1?4ortgagc.
~ Unless Lender and i3orrower othcrvvise agcee in writing, ar~} such application ~f ~+~~~ceeds !o principal shall not extend
~ or poslpone ttx: due date o[ the manthly installmenis rcferrcd tu in paragraphs 1 and 2 hercof or change the amount of
such instatlments. I[ unJer paragraph 18 hercof the Propen~• is acyuired hy~ Ixnder, all right, title and interest of Borrower
~ in and to an~ insurance policies ~nd in and to the proceeds thereof r~ulting from damage to the Property pr+or to the sale
or acqui~ition shall pass to LcnJer tu the extcnt of the sunn securcd by this lllortgage immediately prior to such sale or
~ acquisilion. ,
6. Praer~~atioa aod ~taiataearice of Prope~t~; Leasehulds; Condominiums: Planned l:nit Developments. Borrov?•er
g shall keep thc Property in good repair and shall not commit wastc o~ permit impairmcnt or deteriaration of the Property
s and shall comply with the provisions of any lease if this Mortgage is un a Ieasehold. 1f this Morigage is on a unit in a
! condominium or a planned unit devclopment, 8orrower shall perform all of Borrower's obligations under the declaration
; or cuvenants creating or gover~ing the cond~minium or planned uuit development. the by-laws and regulations oE the
' con~ominium or planned unit development, and constituent documems. If a condominium or planned unit cfevelopment
~ rider is exeruted by Borrower and recorded rogether with this Mortgage, the covenants and agrcements of such rider
shall be incorporated into and shail amend and supplement the co~•enants and agreements of this Mortgage u if the rider
Nere a paR hereof.
i 7, protection of i,en~e~s Secnrity. If liorrower fails to prrfrrm lhe covenants and agreements contained in this
i Mortg~ge, or if any achon or proceeding is commenced w6ich materially atfects Lender's ioterest in the Property.
including, but n.K I:mited to. ~minent domain, insolverxy. code enturcrmem. or arrangements or proceedings involving a
bani~:vpt or decede~r, then !_erWer at I_endtr s option, upon notioe to Borrower, may make such appearances, disburx wch
sums aed take such action u is ~ecessary to pro~ect Lender s interest. including. but not limited to. disbursement of
reasonahle attorney's iccs and en~ry upon the Propeny to make repairc. It Lendcr requircd mortgage insurance u a
condition of making the loan secured b: this Mortgage. 8orrower shall pay the premiums required to maimain such
insurance in etTect until such time as the requiremeet for such insurance terminates in accordance w~th Borr~wers and
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