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UNII'ORIi COVBNANT~. 8orrower and l.ender cuvens~t and sgrce as follaws:
1. I~r~ of ~ei~cMi a~i Ide~aR. Borr~wer al~all p~ompUY psY when due thc principal ot and inte~at on the
indobtednea evideooed bp the Note. Prepayment and latc charga as provided ~n the Nale. and the principsl ot and intercs~
on any Future Advuxes ~ecucaf by this Mon~a~e.
2. ~~i tor 71atr ~¦i I~ta Subject to applicabk law cx to a written waive~ by l.endcr. Borrowcr shall pay
to L.ender on the day monthlp i~utdiments of pnneipaTand interat are payabk under the Note. u~til the Note is paid in full.
a twq (bercin "Fuab'~ equa! lo onatwel[th ot the yeatlr tues and assessments which may attain priorily over Ihis
Morisaje. and ~aound t~a~b on the P~+opetty. it aay. plus one-lweltth of yet~ly prcmiunn installmeou for huard insurance,
plus oortwelfth ot yeatly prcmium installments tor mott`a~e insu~ancc. if any. all as teasonably estimaled initially and (rom
time to time bp i.ender on the bua of asx:ssmcnts and bith and rasonabk a~imata thercof.
The F~nds shal) be hdd in an institution the deposits or accuunts uf which are insured o~ gwrantoai by a Foderal or
state ajency (iacludina Lender it Lender is such an institution). I.endu shall aPpIY Ihe Funds to pay said taxes. usessmeots,
itnuranca premiums and ~round ronts. Lender may not cha~oe tor so holding and a~lying the Furxlc, anal~rzing said accouM,
or ve~tyi~= and complinj uid a~sments and bilb. u~las l.ender pays Borrower ioterat on the Funch and applicable law
permia l.ender to make wch a charge. Bo~rower aatl Ixnder may agree in writing at the time ot eaecuiion o[ this
Mottp~e tl~at intetat on Ihe Funds shall be paid to Bomower. and unless such agreemcnt is made or applicabk law
requires such interest to be p~sid. Lender shall not be requircd to pay Borrower any intercst or earnings on the Funds. l~nckr
sbap ~ive to Borrovret. willrout chuge. an artnual aa;ounting of the Funds showing credits and dcbits to thc Hunds and thc
purpose !or which tach debit to the Funds waa made. 'll~e Funds arc plodgod ss additional socurily for ~he sums securecl
by Wis Mortpse.
If tbe amount of the Fundt held by Lender, toge~het with the futurc mon~hly installments ot Funds pay~bk prior to
the due data of tues. auasments. inwrance premiums and ground rcnts, shall exceod the amount roquirod to pay said tua,
asxaments. iasurauoe prtmiums and ground rents as they tall due, such excess shall be. at Borrower
s option, either
promptly tepajd to Borrower or credited to Borrower oa monthly installments of Funds. If the amount ot ~hc Funds
bdd by l~enckr shall not be wlRcient to pay taxes. a~ssnxnts. insuranoe premiums ancl ground rcnts ss they fall due,
Borro~rer sbaU pay to i~eoder anq amount necessary to make up the de6cieocy within 30 days [rom the date notice is mailai
,
by I.eader to Horrower r'e9~~ P~Y~~t tbereof. ,
Upoa paymeut ia fuU of all sua~ socured by this Mort6age, I.ender shall promptly refund to 8ormwer any Funds ~
beld by I.ender. If unda pansrap6 18 hereof the Property a sold or the Propeny is othervvise acquircd by l.erKier. l~nder
:6a11 apptr. no later than immediately prior to the sale of the Property or its acquisition by l~ender. any Fundt held by
l.eoder at the time ot applicatioa a~ a credit against the sums secured by tfiis Mortgage. -
3. A~iicatio~ ot ta~e~l~. Unless applicable law provida othenvise, all payments rcceived by l.ender under the
Note and puagraphs 1 aud 2 hereof shsll be aPPlied by I.ender 8rst in payment oi amounts payabk to l.ender by Borrower
under para~aph 2 hee+eof. t6en lo interest payabk on the' Nae. then to the principal ot the Note. and ~hen to intercst and
prinapal on any Future Advanas.
1. C~ Ijeas. Borrower shall pay all taxes, axsesvnents and other charges, fines and impositions altributabk to
tbe Prope~ty which may.attain a priority over this Mortgage. and kasehold payments or ground rents. if any, in the manner _
pravidod under puaaraph 2 hereof or, if na paid in wch manner. by Borrower making payment, wheo due. diroctly to We
payee theroof. Borrawer ~6a11 promptly furnish to Leader all notioes of amouots due under this paragraph. aud in the event
Borrower s6a11 make payment directty. Borrower shaU promptly furnish to l.ender rtoeipts evidencing such payments.
Borrower shsll prampQy discharge any lien which hu priority over this Mortgage: provided, that Bomower shall not be
t+equired to dixhar6e any such lien so long as Borrower shall agree in writing to the payment of the obligttion socured by
suc6lien in a manner sooeptabk to Lender, or shall in good faith contest such lien by. or defend enforcement of such liea in,
kgal procoodings which operate to prevent the entorcement of the lien or forfeitun of the PropeKy or any put thereof•~
S. Nssar~ I~wra~ee. Borrovrer shall keep the improvements now existing or heteafter eroctod on the Property insured
againu loss by 6re. hazards included within the term "extended coverage', and such other hazards u Lender may roquire
aad in wch amounts aod tor such periods as Lender may require; provided. that~Lender shall not roquire that t6e amount of
such coverage eaceod that unount of coversge roquired to pay ~he sums securcd by this Mortgage.
'Ibe iawranex carrier providing tbe inwranoe shall be chosen by Borrower subjoct to approval by Lender. provided,
thst wch approvd sl~all not be unreasonably withheld. All prcmiums on insurance policies shaU be paid in the manner
provided under puasraph 2 beroof or, if not paid in such manner, by Borrower making paymeat, wher? due. diroctiy to the -
iownnx carrier.
' AI! inwrance policies and renewals theroof shall be in form acceptable to Lender and shall include a stanclard mottgage
cla~ne in favor of and in form xceptabk to l.ender. Lender shalt have the~right to hold tbe policies and renewals thereof.
aad Borrower shall promptly furnish to Leader all renewal notices and all rcceipts of paid premiums. in the eveat of Wss,
Borrower shall give prompt notice ro the insurarue carrier and Lcnder. Lencler may make proof of bss if not made promptly
by Borrrnrer.
Unlas Lrnder wd Borrower otherwise agroe in writing, insurance procceds shall be applied to ratoration or repair of
! the Property damaged, provicied such restoraUOn or rcpai~ is economicatly (easibk and the security of this Mortgage is
~ not thereby impaircd. If such rcstoration or rcpair is not economically feasible or if the socurity of this Mortgage would
be impaired, the insuraoa procoods shall be applitd to the sums secured by this Mortgage, with the excess, if any. paid
~ to Borrovrer. If ihe Property is abandoncd by Borrower, or ~if Borrower fails to respond to i.ender within 30 days from the
~ date aotice is mailod by Lender to Borrower that the imurance carrier ofTers to settle a claim for insuraoce benefits, Lender
~ is authoriud to colloct and apply tbe insurance prooeeds at Ixnder's option either to restoration or repair of the Property
~ or to t6e wms secured by this Mortgage.
Udas Lender and Borrower otFierwise agree in writing, any such application of prceoeds to principal shall not extend
or potipone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
wc6 installments. If under p~ragraph 18 6eroof the Property is acquired by Leoder, all rig61. titk and interest of Bonower
~ in aod to xny insurance policies and in and to the proceeds theroot resulting from damage to t6e Property prior to the sale
y or acquisiqoa shall pass to Leoder to tbe eatent of the sums securod by this Mortgage immediately prior to such sak or
; acquisition.
~ f, heservatb~ aod MdNeoance of Property; Le~eholds: Condominino~ Plaased Udt De~dopmeats. Borrower
~ shall keep the property in good repair and s6a11 not comroit wute or permit impairment or deterioration of the Property
; and shall comply with the pravisioos of any kase i[ this Mor~gage ~s on a leasehold. It this Mortgage is on a unit in a
~ coadominium or a planned unit development. Borrower shall pertorm all of Borrower
a obligations under ihe declaration _
or coveoants creating or governing the condominium or planned unit development, Ihe bylaws and ~gulations of the
coadomini~un or planaed uoit development, and constituent documents_ If a coneiominium or planrKd unit cievelopment
E rider is ea~ecutod by Bocrower and recorded together with this Mortgage. the covenants and agreements of such rider
shal! be inoorporated into and sbaU tinend and suppkment the covenants and agreanents of this Mortgage u if the ridcr ~
were a part 6ereof.
7, ~+Olectio~ a( Le~der'~ Sce~rit~. If Borrower tails to pertorm the covenants and agrcements containod in this .
j Mortgsse. or if any action or proceeding is commeneed which materially afiects Lenckr's interest in the Propehy.
' ineluding. but not limited to. eminent domain, insolvency, code enforcement, or arrangements or proccedings involving a
i b~olcrupt or docedent. tben Leoder at [.eoder's option, upon notice to Borrower, may make such appearances, distwrse such
5 sup~ and tak~ such sqion as is nocessary to protect l.enders interest, including, but not limited to..disbu~sement of
~ res~onabk zttoroey's fas and entry upon the Property to makc repairs. It [xnder rcquircd mortgage insurance as a
! cooditioa of makin` tbe ban socural bY this Mortgage. Borrower shall pay the premiums rcquirod to maintain such
I imuraoce in eHect until wch time as the tequirement (or such insurance terminates in accordance with Bormwer s and
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