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UKtr~o~t~t CbvsNexts. Borrowet and l~de~ ooveaant aod asree as tollows:
l. ~...e ot r.~~ ,~.i ~~.i. eor~ ~n.n ~o~,air wr when due the priacipal ot and interat on the
jndebtedoat evidenad by tbe Note, PreWytaeot aad late cha~es as provWed in the Nwe. and tbe principal ot and i~teoest
oa a~? P~twe Advaoc~es ~enu+ed by tha Mnrtsa~s.
1!`i hr Ti~ a¦~ 1¦r¦rs~ce. Subject W applicabb law or to s Mritten waive~ by Leoda. Bo~rowe~ shall WY
to L~ende~ oa tbe day moathlp imtallmenb of principal and interost are payabk uader the Note, uatil the Note is paid i~ tull.
a wm (bet~in "FuaY'~ eqwl to oae~twdith o[ the yeariy tua and as~asme~u which may attain priority over this ;
Mortjaje. and ~ot~od renb oa tbe PenpeHr. i[ my. plus ooatwelfth ot yearl~? premium uwalimenb [or hazard inwraace.
plus ca-twelfth ot peatiy premiuaa ioqalimenb for mort~a~e imunna. it any, all ss na:onaM~? eswnat~d initialty snd from
time Eo time by I~endet on tbe batis of a~amenb aad bilb and rcasonabb atimstea lhereoi.
1Le Fuodt ~hall be Udd ia aa imtitution tbe deposia or :ooounts o( ~r6ich are insurod or ~uaraateed b~? s Federal or
wee ajeticp (iuch~dle~ Le~de~ if I.eade~ is tuch an ia~titution). I.et~der sliall apply the Funds w pay said tana. assas~r~ents.
• insutaooe p~aiutns and p~ound reuts. Leoder may eot chsr~e for u~ hoiding and applyia~ ~he Funds. analyziat said acooun~
or v~ecifptns aod oompilins said s~asmeob aad bilb. unlaa I~eader pays BoROwe~ interat on the Funds and applicsbk la~r
pennits I.ender to make wch a char,a. HoRO~ver aad Leuder may agrc~e in writina at the time o[ execution ot this
Mortp,s t6at iaterat on tl~e Pundi shall be paid to Bormwer, a~d unle~ wc6 a~roemeat a made or applicabk IaMr
raryire~ wch iata~est to be p~id. l.a~der shaii not be roquired w pay Bonower any interat or earnings on tbe Fuods. Lende~
•6aU ~ b Borm~ver, witbout cbarge. aa aanua! aooou~ti~g of the Funds sl~owing crodits and debitt to the Fwds and the
purpae tor ~vhich each debit to tt~e F~nds was made.> '~'he~ Funds are pledaed ss :dditional security [or the wms sacured
by this Mottja~e•
lf tbe atnount of t6e Fuad~ beld by Leade~. to~xher with the future monthly instalimeats of Fu~ds payabk prior to
d~e due datas ot taxes. aaie,amwb. insuranoe premiums and aound rents. shall exooed the anwunt requi~+ed to pay said taxa.
aaeameats. insuranoe p~niums and ground rents as tbey fall due. such excas sha11 be. at Barrower's option, either
proo~ptiy repaid to Bortower ot creditaf W Bormw~er oa nwathly installme~ts of Funds. If the acnouat of the Fund~
beld b~? Leader a6a11 not be su~c~ut to pay taaes„ ~t~. iasurauoe premiums and ~vund rents as they fall due.
Bonairer ~aU p~r W L~eades aay amount oeaaary to malce up t6e deficiency wiHun 30 days fran the date notioe is mailed
b~? L~ade~ to Horrawer iecl~tin~ Payme~t t6ec~eof.
UPon Pa~me~ in full of all s~mn securod by this Mortaaae.' l.ender sdall Pr~PUY refuad to Borro~rer my Fund~
:.d~: ~ i.ea~s. It ua~s gar:~'.~ tg .s€ t.`.a Fs~tty ~ sc:t! ~r L'x ~ra~rty is c~l~r~i~ ~quisr.Q by l.~~r. ~~tr
Jutl T.~, ssD ~~l~ L~!! ' t~ ~s!i+i Ei+ t~ llpF ~ne~~? n~ its amwsition by Isndet, any Fwlds heM bY
T.OO~E[ il fb0 t1IDC Of i~ICit1011 ~i i C[~Od1~ ijalOiL 1~10 W[tli lOCUi~Od ~ l~IIS MO~fjiaC.
3. A~caMea et tapra~lr. Uakas spplicsbk !aw pravida oeherwise. a!! paymeots reeeived by l.toder under the '
Note and p~rausp6s 1 and 2 6eroof ahall be applied by I.tnder flrst in paya~ent of anwunts payabk to Lender by Borrower
uader paasaph 2 hereof; ihea a incerese payable on cbe Nae. then to the principal of tbe Note, and ihen to interat aod
prinapal on any Future Advanoa.
Chr~er, Iier. Horrower s6aU pay all taxes, ass~xnts and other char~es. Snes and impositia~s attributabk to
tbe Pnop~ty which may auain a priority over this Mortgage. and kssehdd paymeats or acound rents. if aay. in t6e manner
ptaviaed ~mder para~raph 2 6ereof or. if not Qaid in such manner. by Borro~w~er malcini Wymeat, w1~en d~e. d~rectly W tbe
pay~ea t6eteof. Bam~w~cr ahall promptly furni:h to Lender all notias of amo~na due unda this para~rapb. aod 'm tha ~reot
Horrnwer sbaU maka paya~eat directty. Borrowrer s6aU PiomPUY fumah to Lender raxipts evidencin~ wch P~Y~~-
Borro~rer shaU prumpdy dbchar~e any tiea which has priority over thu Mortgage: provided, that Borm~wer shall not be ;
required to discbar~e any wc6lien w loaa as Borrower ~I~al! sg~~ee in writiag to tbe payment of the obligitioa secured by !
wch li~ in a manner scoeptabk to I.ender. or slWl in good faith oontest wc6 lieo by, or defa~d enforoaaa~t of such liea in.
kpl prooeedinss which opecate to preveot the eaforoanent of the lien on fotfature of the Propertp or aoy part t6ereof.
S. Aasari Iawus~ca Botrower shall keep the imp~+ovemeats now eaistins or hereafter erected an the Property inwrod
agaimt loa by 8ie. 6aza~+ds iacluded withia tbe tum "exteaded covuage", and suc6 other haurds u Leader may require
and in wch amounts and for wch periods as I.enda~ may roquirc; provided. that I.ender sball not require that the amount of
wch ownas~e euoeed t6at amount of coveraae required to pay the wms secured 6y t6is Mortgage.
1ba imuranae caaier p~ovicliaa the inwranoe shatl be rhosea by Borrower wbject to approval by L~ender. provided.
' t6at axh appmva! s6ap not be unreasooably witbheld. All praniumt on inwra~we policia shall be paid ia the manner
! p~+onriaea uader para~raQh 2 ba~eof or. if noc paia in wcd maoner. br Horrow~ makuu wr~• d'~y w~
im~uanoe cattia.
~ M inwranoe poticies and reoewals theroof thall be in form a~xeptabk to Lender and shall include a standard mortga~e
clau~e in favor of aod ia form acoeptabk to l.ender. I.eoder shall have the ria6t w hold t6e policia and reaeM?als th~reof,
and Honuwer shall pranpdy furni:6 to Lender all renewal notioes and all reoeipts of paid p~aniums. Ia the eveat of lass.
Borrower shall give pmmpt notioe to the iaaurance carrier aod Laider. La~der may make proof of las if not made promptly
bY Bortower•
Ualas Leader and Borro~wa otherwise aaree in writiag, ins~uaaoe proceods shall be applied to ratoration or repair of
the Pmpa~ty dama~d. Pmvidod wch restontioa or repair is a:onomicaUy feasibk and t6e security of this Mortaage is
not tl~ereby impaired. If suc6 restoration or repair is not economically feasibk or if tbe security of this Mortaage would ~
be impairod, tbe inwranoe proooeds shaU be applied to tbe sums secuc+ed by t6is Mortgase. with tbe access. if anY, P~
to Borraver. If t6e Property ia abandoned by Borrower, or if Borrawer fails to rapond to Lreoder wit6in 30 days from the
date notioe is mailed by I~wder to Borrower that the insuranoe carrier ofters to seak a cl~im for insunnoe bene5ts, Lende~
is autborized to cotlxt and sppty t6e inwraoce prooeeds at Lender's option dther to ratontioa or repair of the Propaty
or ~o t6e was secured by Wis Mortaa~e. .
Unks~ I.eoder and Borrower otherwise agree in writing. any such application of procoeds to principal shall not extead
or patpone tbe due date of tbe monthly insWlments referrod to in paragraphs 1 and 2 hereof or cbange the amount of
wcb i~Wlments. If uoda paragrap6 l8 bereof the Property is acquired by I~eoder, a!t rig6t, titk and interat of Borro~wu
in and w aoy i~uranoe policia and in and to tbe proceods thn+eof raulang from damage to t6e Propecty prior to the sak
or aoquisiaon s6a1! p.ss co Lenda co the eaccenc of ~be wms ~cured by t6is Moregag~e imn~ediatdy prior w such sak or
ro~~ea' vii nv~.vi+ci
i~. i.aer.aoo. a.: ~ea¦cs oi rroperir i~a~aoi~ a.~oo~~ -+~l~
~ s6a11 keep the property in ~ood repair aad s6aU aot comwit waste or permit impairmeat or deteriontion of tbe Property
and sha11 comply witb the prcwisioos of aoy lease if t6is Mortgage is on a kaseboW. lf this Mortsage is on a unit in a
cmdominium or a planned unit development, Borrower shall perform all of Borrower's obli~ations uada the decluation
or ooveoaats creatins or Sov~eraing tbe coodominium or planood unit development, the by-laws aod ~ulations of the
condoa~iaitnn or ptanned unit development, and rnnstitueot docwnents. lf a condominium or plaunod unit developnent
rider i~ ~zecutod bSr Borro~wa aad r~ocorded together with this Mortgage, the covenants and agroements of wch rider
~a1! be inoorporated into aod shall amend and suppkment the cvveoants and agreements of this Mortasae as if tbe rider .
wen a part beneof.
7. ~erbeefM~ ef I.esie~"s Sec~rit~. If Borrower fails to perform the covenants and agreements contained in this
~torip,~e, pr if anr actioo or prooeeding is commenced which materially affects Leoder's interat in the Property,
iocludinj, but not limitod to, eminent domain. insolvency. code enforti~ement, or arrangements or prooeeding~ involving a
b~atrupt or daxdeot, t6aa [,pder at l.eader's option, upon ~wtioe to Borrower, may make such appearanoa. di:butse such
wmt aad tdce web aqioo ss i~ uooasary to protcet Lender's interat, including. but not limited to. disbu~sea~ent of
tes~ooabk stwm~s hes ~od aury upon t6e Propeny W make repairs. If Leoder required mortgage insuranoe as a
oooditaa of makioi the ban sxured bY this Moctgage. Borrower shall qy the pu~niums roquired W maintain such
ioswt,ooe in eHect uoW wch Wne as the roquiremeot for wch inwrancx terminates in aa~cd,anoe with Borrower's and
. $~27~ ~ ?i3
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