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UN~~,t Cbvat+~t+~re. Bon+ower aad Lander covenant aad a~ree ss foUaws:
i. IhU'reat o~ M~cIMI a~i Were~t. Bon~ower shall proanW~Y WY wb~n due tbe principal of and i~terat on the
indebtedneu evideooed by the Note. PrepaYmeat aad late charees as provided in the Note. nad tbe priecipai of u~d interat
oa any F~tu+e Advanoes txuc~ed by tha ~lart~a~,
S. ~ for'I~~s a~d IrrrMca Sbbject to applicabk law or to a written waivet by Lender. Bairower shall p~Y ;
, to Lender oa tba day moathyr iaatallmeab ut ptiacipal a.~d interat are p~tysbb upder the Note, uatil the Note is paid in full.
~ twn (berein "Pt~nds'~ eqwl to oae-tw~tfth ot the yeady tazes and ssa~nen~ which may attaia prio~ity ovar th~
1Kort~a~e. aad =oound ~eab oa ths Piroperty~ if any. plus ooatrrelft6 of yasrly premlum in:tallme~ts fo~ hazard i~uurance,
plus one-twelfth ot yearly praqium installmeats tor iaatp~a inwrana. it u?y, all as rea:onabfy ~stimatad initiapy and from
time to ti~he by Leader oa the bss~ of ane~amenb aad bilb and r~easonabb estimata tberea?t.
T6a Pua~ sball be 6eW ia aa i~stit~ion tEie depaits or ~ocountt of w?hkd ara iusured or ruaraateod by a Federal or
stata ajency (includina Lendac if l.endet is tuch an ia:titution). Lender sball appty the FUnda w psy_said taxa, asseameats,
insur~nca pcemiua~ aad ~round reats. i;ender m~y not chsrae fw ao holdins and sPMri~?S the Funds. analyzias said acoouat~
or verifyiaj and compilins sud a~sasmeab u~d biUs, unleu Lender pays Borrower intereat oa tbe Funds and applicabk la~r
pemutt I~ender to make wch a charye. Borrowe~ and I,eader may ag~oe in writia~ :t the time of eacerution of tha
Mort~a~a tbat interat on tbe ptinds shal! be paid to Borrower. and unless auch agreemeat is made or applicabk la~r
requirea wch intarat to be paid. Lende~ ~a11 not be requiced to psy 8orrower any intereat or arnings oa the Fuada. Lender
n
s6a11 ~ve to Bor~+ower. without charge, an aanwl aocounting of tbe Fur~ showing credits and debits to the Fuads aad tbe
purpose for which eaeah d~t to the Fuud~ was made. 'fbe Funds are plodged as additional aecurity for the :ums sacural
by this Mortpje. ~
1~ tbe amount ot tbe Fun~t held by L.eader, together with the futuro monthly instalL~xata of Funda paysbk prior W
t6e due data of wca. ~ssasmentt, inwrance premiums and grcwnd reats. =hail euoeod the amount required to pay said wces.
~roents. ia~urance premi+uns and grnund reets as they fall due. such raccess shall be„ at Borrower's option. eitl~tr
pranptly npaid to Borrower a credited to Borrower on monthly installnunts of Funds. If t6e amount of the Fund~
heW by Leader ahall not be :u~cknt to pay taua, amesur~ents, insurance preroiums and gc~nund reets ss tfiey fatt dua.
Botro~wer shalt pay to I,eader any amount aeoessary to make up the dellcie~cy within 30 days from the date notice is mailaf
by I:eader to Hormwer requesting payment tbereof.
Upoa paya~ent in full of all sums secured by this Mortgaga. l.ender ahall p~ompUy refund to Borrower soy Fua~
deld by I.ender. If under para~raph 18 hereof the Property is sold or the Property is otherwise acqui~ed by Lender. Lender
s6ail appty. no later thae imnxdiatety prior to the sak of the Property or ib soquisition by Lender, any Funds held by
Lender at the time of applicatiou as a cndit ~gaiast the swns aocured by this Mortgsge. ~
3. A~iiatio~ at Pq~eaU. Unless applipebk law provides otherwise, a11 paymeats reaived by Lender under the
Note aad pan4graphs 1 and 2 be~eof sha0 be applied by Lender 8cst in paymeat of amounu payable to Lenda by Borrower
under parajraph Z hereof. then to intercat payabk on t~a Note, then to the Qrincipal ot the Note, and then to interat and
priecipal oe aay Futun Advan~es. -
4. C~er I.ie~t. BoROwer sha1~ Puy a~~ taxes, a~nt~ and othe~ charges, flna and impositions attributabk to
the Pmpecty whids may attaia a priority mrer this Mortgage, and kssehold payaneats ar arouad tents. if any. in the manner
provided under para~ap6 2 hereof or, if not paid in auch manner, by Borrower. what due. direcdy to t6e
Pal"ee Wenof. Borrowrr stiall P~P~Y furnish w I.ender sll noticss of amoun4 dmu~e
u~n~"~~ragcspb, aud in tl~e avent
Borrovrer s6a11 make MYmeQt dirocuY, Borrower ahall promptfy fumi~ to I.eader reoeipts evideaciag ~such PaYments.
. Borrower sha11 pranPtly? discharge uty lie~ which has priarity over .this Moctga~e; prnvided; t6at Borma?et aball aot bt
requind to discharge wy auch lien so bng aa Bomowu :hali agree in writinB t4 -tbe:~ayment of the. obligation ~cural bY
such liea in a manner scoeptaWe to Leader, or shall in good faitl~ contat such tien by, or defend enforxmeot of sucli l~ai iq
kgal proccedings which operate to prevent the enfonxment of the- lien or fodatur~ of tha Property or any put thercof.
S. HwrB Iswra~ce. Boirower shaU keep the improvenrents now existing or hereafter eroctod oa the Property insured
against loas by Sre, haurds includod withia the term "extended coverage•., and wch ather hazaras as Leoder may roquirt
and ia wc6 ~~tt and for such periods as Lender may roquire; Pmvided. tbat Lender shall not require that the amount of
wch coveraae ex~oeed t6at amount ~ coverage roquired to pay the s~uns aecured by this Mortgage.
T6~ inwrancx carcier pmvidiog the insurancx-shall be chosea by Borrower wbject to approvat by I.ender, provided,
Wat such approval shall not be unt+easoasbty witbheld. Atl pt+emiums on iosuraooe policia shal! be paid in the manner
provided under pua~rsph 2 herwf or, if not paid in wch mauner, bY Horrow~et makin8 PiY~~+ wha~ due, di~ectly to tl~e
iosurance carrier. ~
All iasuranoe pd~cies and rwea+a4 thereof ahall be in fo~ ucepta6k W Lender and sf~ail inctude a standard mortgage -
ciause in favor of aod in focm aoc~ptabk to Leackr. Lender shall have tbe right W hoW the policia and reaewals thereof,
ancl Borrawer shell ptomptly furnish to I.ender al1 renewal notices aad all receipts of paid premiuras. In the event of loss,
Borrower shall give prompt notioe to t6e i~uranoa carrier and Lender. [:ender may maice proof of loas if not made promptly
by Borrovva.
Unk~ Leuder and Boaower otherwise agree in writing, insuranoe proceeds shall be Applied to restoration or repair of
tbe Pruperty dama,gcd, provided suc6 restontioa or npair is oconomicatly fasibk and the sxurity of thia Mortgage is
not thereby impair+ed. If suc6 restoration ar repair ie not cconomically feasibk or if the security of. this Mortgage would
be ;mpa;roa, the ~asurana prooeea: shau be apptiea w che sums securd by tbis Mortga~e.- N?;th the exoess, if a„y. p:id
w Borrower. If tbe Propaty is abandoned by Borrowu. or if Borrower faib to rapund w I.eader within 30 days from the
date notioe is mailed by IRader to Borrower that t6e imurance carrier otfers to settk a claim for inaurance b~ae8ts, Lender
is autlwrizod to colket and apply tbe i~arance prooeeds at Lender's option ather W ratoration or repair of t6e Fropetty
. or to the wms socured by t6is Mortga,~e.
Unleas I.ender aud Borrower otherwise agree in writing. any such application of proooeds to principal shall nd extead
or po~tpone t6e due date of the monthly inatallments referred to in paragraphs 1 and 2 hereof or c6ange the amount of
wc6 installments. If unda P~S~Pb ~81~reof tl~e Property is acquired by La~der, all right, title aad intuat of Horrower
in and to my iusuranoe potic~a and in aad to the prooeods thereof nsulting from damage to tbe P~+opelty prior W the ~sak
or acqt~isition shall p~ss w Lender W tLe wctent of the sums ~cured by thiis Mortgage immediately prcior to such sak or
a~qt~aition. .
f. te~eserratios a~i M~tesa~ce ot Troperty; Lareholdr, Coadomlde~ Pfaeoe~ Udt Derdopse~b. Borrower
shall lueep tbe PropettY in aood repait and s6all nat c~ommit waste or permit imQaimuent or det~eoration of the Property
~~~P~Y tl~e ~ovisioes of any lease if this Mortgage is on a lesae6oW. If t6is Mcxtgage i~ on a uait in a
condomiaium or a pianned unit ckvelopment, Borra~?er shall perform all of Borrower's obligations under the doclaration
or oovenanb creatin~ or Eoverning tbe condominiure or planned uait development, t6e by-lawa and regulations of the
condominiwn or planned unit devdopment, and constituent dociunents. If a oondominium or planned unit developmeat
rider is exe~uted by Bomuwer and recorded togqher with this Mortasge, the ooveoants and agreemeob of such rider
:hall be incotporateti into and s6all aa~ead and supplemeat ibe covenants and agre~ements of this Mortgage aa if the rider
were a put heeeof. .
7. lrotalio~ ot I.eader's S~c~r. If Borrow~er faits to per[orm tlx oovenants and agroements contained in this
Mortga~e. or if any action or proexeding is oo~nmancxd which materially aBects Lender's interest in the Property.
including, but not limited to, eminent domain. iasolvency, oode enfonx,~nent, or arrangemeats or prooeedings involving a
bankrupt or dooedent. thea Leader at Leader's option, upon notiee to Borrower, may make such appearances, d"abur=e auch
wa~s and talce wd? action as is neves.sary w protect Lender's iaterest, including, bat not limitod to. disbunea~ent of
reasonabk attorney's foa and e~try upon tb~ Properry to make npairs. If Leader requirtd mwtgag~e iraurac~e as a ~
condition of makin~ the baa seC~ued "~t :t5is Mortgage, Borrower shall pay the premiums required to mainuin wch
in~ranoe in effect uatll such time as the roquirement for such inwrance terminata in aceotdaoa wit6 Borrovvet's and
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