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U~nsoax Covr~x~xta. Borrower and Lender coveruat and a~re u tollo~: 1~
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I. P~rmeat of htodpal and Iataat. Botrower ~aU PranP~ly W1 wt?e~ due the priadpal o[ and intcrest aa tbe i
Indebudnea evidenoed by the Note. prepapmeot and late charaa a~ provided in ehe Note. and the prindpal o[ atxl intet ;
eu on any F~ture Ad~anca ucu~cd by tliis Morc~aae. ~ ~
t~Lnds to~ Taus sad Iowuana. Subject w appliable lsw o~ w a~?rittea ~raiver b~ Lenda. Borroaer shaU pay ~
to I.eudct on the dar montbl~r installme~u ot priacipal and intereu are papabk uades the Note. until the Note is pzid ia
full. a snm (hereia "Fur~ds'7 equal co one-c~?eUch ot the ~rearlr caxa and aseessmena rvhich a~ay acain prioriq over ehis
Mongage. and grouad rents oa the Pmperty. tE an~r. plu~ one-trveUth ot peulp prsmium instaUanents for huard iawnna.
plus one~twelfth oE ~rearly pmnium installments [or mort~age insurana. if anY. all at res~onablr atimated iaitially and from '
time w tia~e br Leader on the baai~ oI a~essments and bil4 and reasonaWe estimata thereof. `
' 'i'he I~Lr~ shall be held in an inuitutlon the depaiu os aooounts oE whlch are ~nwred or Euara~teed by a Feda~al or i
sate agency (includins Lender if Le~da u such an institutioa} Lender shall apply thc Fundi to pap said taxa. assessments. ~
t insunnce premiums aad ground rents. Lender mir not charae tor so holding aad applying the Funds, aaalyziag ssid ac
count. or verifyin~ aad ~ompiliog taid as~smeats and bill~„ unlas Lendet part Borrower intatat on the Fuad~ and a~
plinble law permia Leadcr to make such a chuge. Borro~ra and Ler~dt~` may agree in ~rritina at che time o[ acecutan oE
this Mortgage that interat on the Funds shaA be paid to Borro~ra. znd unless auch agreement ~ made or applicabk la~r
requira such interat to be paid. I.enda shali not be requircd to par Borrower any interat or eamings on che I~Lnd~. Leader
shall give w Borrower. ~rithout chuge. an annual aaoountina of the Furids sho~ri~g ctediu and debits to the Fu~ds and the
purpcue tor ~rhich each debit to the Fundi was made. The Funds are pledacci u addicional secvrity for the wms securcd
br thu Mort~a~e. '
l[ the amount oE the Funds held by Lender. togetha ~rith the Euture monthlJ iastaWneats o[ Funds payabk prior to
the due data of caxa, auessments. iraurance premiums and gnwnd rena. ~all acaed the amount required to pay said
taxa. assessments, insurance pteminms and gtound senta u the~r fall due. wch acass ~all be. at Borrorrer's option. tither
prompdy repaid to Borrower or aedi~ed co Borrower on monihly inscaliments of Furids. IE the amount of che Funds held
by Leader shall not be wf[ident to pay taxa, assessaoents. inaurance premiums and gmund rents u thep fall due. Borro~rer
shall pay to Lender an~ amount necessar~ to make up tt?e deiititac~r frithin 30 dars [mm the date notice is auiled b~ Lender :
to Borrorner requatin8 papment thereof. • :
Upon pa~axnt in fnlt oE all :ums xcurrd by thu Mortgage. Leader shall prompdy nEund to Borro~rer an~ Funds ;
heW by Lender. IE wider paragraph 18 henof the Properq ls wld or the Properq is other~vue acquired by Lender. Leader ~
shall tpply, no later than immediately priot to the tale oE the Propertg or its acquisition br Lender, any Funds held by ?
I.ender at the time o[ appUation as a aedic against the sums secvred by ch~ Mortgaga :
3. Applicatbn of Parmenta. Unlesr applicabk la~v provida othernrise, all payments received by Lender under the ;
Note and paragnphs 1 and 2 hereof shall be applied br Lender tint in parnent of amounts parible to Lender by Botrower
unda pangnph Y heteof. then to interest ~yable on the Note. then to the principal of the Note. aad then to intuat md
prinapal on any Future Advanoa.
4. Gbar6e~ I,ien~. Bormxer shall pay all taxa, assessme~ts and other charges, fina and impositions attributable to ~
the Property ~rhich may attain a priority over this Mortgage. and leasehold paymenu or ground rents, if any. in the man-
ner provided under paragrapb Y heteoE or, iE not paid in wch aunner, by Borrower making payment, ~vben due. dirrctlp to
the pa~nce theteof. Borro~rer shall prompdy fumish to Lender ali notices of amounts due under this paragraph. and in the
~ evEnt Borrower ahall make paYment directlp, Borro~rer shall promptlp turnish to Lenda receipts evidencing such pay~nents.
Borrorver shall prompdr discharge any lien wrhich hu prioriq o~-er this I?tortgage: provided. that Botro~rer shall not be re-
quired to dixturge wy suc6lien w long as Borrowet shaq agree in ~vriting to the payment of the obligation secured by wch
lien in a mannet acceptable to Lender. or shall in good faith contest such lien by. or detend e~forcement ot such lien in. le
gal proaedings ~rhich opente to prevene the enforcement oE the lirn or torEtiture o[ the Ptoperty or any part thereof.
5. Hasard Inw~rmee. Borrower shall keep ehe impiovements no~r existing or hereaEcer erected on tLe Propert~ in- ?
sured against los bp fire. harirds induded writhin the term °extended ooverage". and suc6 other hanrds as Lender may ra i
quirr and ia such amounts and for such periods u Lender may require: provided. that Lender shall not require tlut the ~
amount oE wch oovenge exceed that amount of aoverage required to pay the sums secvred by this Mongage. ~
T'he insunnce arrier pmviding the insunnce shaU be chosen by Borrower subject to approval by Lender. provided. ~
, that such approval shall not be unreasonablp wichheld. All premiums on inwrance policia shaU be paid in the manner F
k provided under paragnph Y hereof or. it not paid in such manner. br Borrorver mai~ing payment, ~rhen due, direcci~ w
~ [he insurance carrier.
~ All insurance polida and rent~vals thereof shall be in [orm acceptible to Lender and shall indude a standud ~rt-
gage dause in [a~or of and in torm accepcable to I.ender. Lender shall have the right eo hold ehe policia and rentwah
I t6ereof, and Borro~ver shall prompdy Ewnish eo Lender all renewal notica and all rcceipu of paid premiums. In the rvent
' of loss, Borrowtr shall give pmmpt notice to ehe inuuance arrier and I.ender. Lender may make proof of loss iE not made ~
promptly by Borrower. " ~
Unlas I.ender and Borrowrtr otherwiae agrte in writing, insunnue praeeds thall be applicd to mtoration or rtpair of ~
the Proptrty damaged, provided such taeontion or repair is economically [easible and the- security oE this Mortgage is not ~
t6ereby impaired. If such racontion or repair is not ea~nomiully feasible or if the seturity of this Mor[gage would be im- ~
paired. the insurance proceeds ahall be applied to the sums secured by this A~ortgage. ~?ith the excess, iE anr. paid to Bor- ~
rower. IE the Proptrty is abandoned by Borrower. or iE Borrm.er fails to rapond to Lender within 30 days (rom the date ~
notioe is mailed by Le~der to Borrower that che insuranct arrier o[[en to setde a daim for inwnnce bencfits. I.ender is ,
authoriud w oollect and apply the insunnce procceds at I.endtr's option either to ratontion or repair of the Prqperq or ~
to the wms utured br this Mortgage.
Unlas I.ender and Borrower other~rise agrce in wricing, any such appliation of proceeds to principal shall not actend
or postpone the due date of the monthly installmenu refrned to in paragraphs 1 and 2 hercof or change che amount of such
installments. IE under pangnph 18 hereoE the Property is atquired by Lender, all right, tide and interest of Borrower in .
and w any insur~nce policies and in and to the proteeds thereof resulting from damage to the Property prior to the sale or
acquisition shall pas.~ to Lender to the eztent of the sums secvrod by this Atoregage immediatdy prior to such sale or
acquisition. ,
6. Praerntion and Maintenanoe oE Properq: I.eax~oldx Condomin~um~ Planned Uaic Derdopmenu. Bormr?tr
shall keep the Proputy in good repair and s1uU not oommit wute or permit unpairmene or deteriontion oE the Propertp
and shall comply with the provisions oE any lease if this Morcgag~ is on a leasehold It this Mortgage is on a unit in a
rnndominium or a planned unit development, Borrowa shall perEorm all of Borrovrer's obliqatioru under the declantion ~
or covenanu aeating or governing the condominium or planned unit devrlopment, the byla~rs and regulations ot the rnndo-
miniuan or planned unit development, and mnstituent documenu. 1f a rnndominium or planned unit development rider is
pcecnted by Borro~ver and recorded together vnith this Mortgage, the oovenanu and agreements of such rider shall be in-
corponted into and shall amend and supplement the oovenants and agreements oE this Mortgage as it the rider wrere a put
6ereof.
7. Protection of Lenda's Seevriry. IE Borro~rer fails to puform the oovenants and agreemenu contained in this
Mortgage, or if anY action or praeeding is commenced w6ich materiallr aftects Lenders interat in the Property, induding,
but not limited to, eminent domain, insolvency, code entorament. or amngemenu or praeedings in~olving a baniwpt
or decedent, then I.ender at I.ender': option, upon notia w Borro~vrr, may make wch appeannca. disbune such sums
and take such action as is necessary to protect Lender's interat, including. but not limitcd to, disburxment o[ rea~onabk
attorney's fea and entrr upon the Properq to make repairs. If Lender required mongage inwrance u a condition of
making the loan secured by this Mortgage, Bomo~va shaIl pay the premiums required to maintain wch insuranoe in ef-
fecc until wch time u the rcquirement for such insurana terminates in accordance with Borrrnver's and Lendet's written
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