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UNIPO~M C~OVBNANI's. Borcower and l.e~de~ covenant and agree as toltows: +
1. la~weN of trl~ciN1 a~i Werat. Borrower shail promptly paY whe~ duc the principal of and interest on the
indeb~edneu evidenad by ~he Nae. praQayment and late chargcs as provicled in thc Note, and thc principal of at?d interest
on any Futurh Advan~ri secured by this Mortgage.
Z. I4~ to~ Ta=es a~i Irrr~ce. Subjecl to applicabk law or to a written waiver by l~nder. Borrower shall pay
to Lender on the day motUhly instailmtnts of principal and interest are payable under thc Nale. until the Note is paid in full,
a sutn (henin "Fundt'~ equal to one-twel(th of the yearly taxes and assossments which may attai~ priority over this
-I~+! ~ y,_it_an~r pLu one-twelfth af yearly premium installments for hazard insurance.
plus one-tvrelfth of yearly premium iastaUtnents for mortgage insurance, ii any, aif as ~n~
~~ated-inniakY-e~-~~ -
titra to time by I.ender on the basis of assassments and Mlls aod rcasonable. estimates thereof.
The Funds sball be l~eld in a~ institution the deposits or accaunts of which are insured or guaranteai by a Federal or
state agency (i~cluding l.euder if Le~er is such an institutio~). l.ender shall appiy the Funds to pay said taxa, assessments,
iaaurance premiums at~d ground rcnts_ Leoder may not chatge for sn holding and ap~+lying Ihe Fundc, analyzing said account.
or verifying aad aompling said assessments and bills. unles's l.ender pays Doirower interest on the Funds and applicable law
p~rmits L.ender to make such a charge. Bormwer and Lender~ may agree in writing at the time o[ execution of this
Mortgage that intersst on the Fuads shall be paid to Borruwer. and unless such agreement i.~ made or applicable law
requices such interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
s6al1 give to Borrower, without charge, an annual accounting of the Funds showing credits anci debits to the F~nds and the
purpoae for which each debit to the Funds was made. The Funds are pledged as additional security for the sums securecf
by this Mortgage. .
If the amount of t6e Fuads held by Lender. together with Ihe fuwre monthly installments of Funds payable prior to .
t6e due dates of taxes. assessments. insurance premiums and g~ound rents, shall exceed the amount required io pay said taza.
asstaaa~ents, insurance premiums and ground rents as they tall due, such excess shall be, at Borrower s optinn, either
pro~pdy ropaid to Borrower or crodited to Borrower on monthly installments of Funds. If the amount of thc Funds
hdd by Lender shall not be sufftcieat to pay taxes. assessments. insurance premiums and ground rents as they fall due,
Bormwer ahaU pay to L.eader any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by Lender to Borrower requestiag payment thereof.
Upoa paymeat :a full of all sums secured by.this Mortgage, 1_ender shalt promptly ref~md fo Borroa•er any Funds
held by Lender. If under puagraph 18 hercof the Pmperty i~ sold or the Properry is otherwise acquired by Lender, l.ender
s6a11 apply, no later than immediately prior to the sale of the Property or its acquisition by Lender. any Funds held by -
Lender at the time of application as a credit against the sums secured by this Mongagc.
3. A~lk~lon oE PaymeMs. Unless applicable law provides otherwise, all payments received by Lender under the
Note aad paragraphs I and 2 hereof shall be applied by Le~der Brst in payment of amounts payable to I.ender by Borrower
under paragnph 2 he[oof. then to interest payable on the Note, then to the prir~cipal of the Nwe, and then to interest and
priucipal on any Future Advances.
4. ~ Crarses; I.kes. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
the Property which may attain a priority over this Mortgage, and leasehold payments or gmund ronts, if any. in the manaer
pmvided ander puagraph 2 hereof or. if not paid in such manner. by Borrower making payment, when due, dirtcdy to the
payee thereof. Bomower shall prompdy furnish to Leader all notices of amouats due under this paragraph, and in the eveat
Bornower s6a11 malce payment directly, Borrower shap promptly furnish to I.ender receipts evidencing such payments. .
Bormwer shaU promptly discharge any lien which has priority over this Mortgage: provided, that Borrower shall not be ~
roquired to discharge aay such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
suc6 lien in a manner acceptabk to Lender. or shal! in good faith contest such lien by, or defend enforcement of such lien in,
legal procoedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof..
S. Hazard Insnnnce. Borrower shall kcep the improvements now existing or hereafter erected on the Property iosured
agaiust loss by 6re. hazards included within the term "extended coverage", and such other hazards as I.ender may require ~
and in such amounts and for such periods as Lender may require; provided, that Lender shall not reqaire that the amount of
such ooverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
'Ibe inwnnce carrier.providing the insurance shall be chosen by Borcower suhject to approval by Lender, providod;
that such approval shall not be unreasooably withheld. All premiums on insurance policies shall be paid in ihe mancer
i pmvidod under paragraph 2 hereof or. if not paid in such manner, by Borrower malcing paymeot, when due, direcdy to the
i~uurancx carrier.
~ All insuranoe policies aad renewals thereof shall be in form acceptable to -Lencier and shall include a standard morigage
~ clause in favor of and in form acceptabk to Lender. Lender shall_ have the right to hold the policies and renewals thereof.
~ and Borrower shall promptiy furnish to L.ender all renewal notices and all receipts oE paid premiums. In the event of loss.
Borrower shall give prompt notice.to the insura~ce carrier and Lender. Leoder may make proof of lass if not made promptly
~ by Borrower.
Unless Lender aad Borrewer otherwise agree in writing, insurance proceeds shall be applied~to restoration or repair of
~ the Property damaged, provided such restoration or repair is economically feasible and ihe security of this Mortgage is
not thereby impairal. If such restoration or repair is not economically feasible or i( the security of this Mortgage would
be impaired, the insurance pra~oeds shall be applied~to the sums secured by this Mortgage, with the eace.ss, if any, paid
to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to l.ender within 30 days from the
date notice is mailed by Lender to Borrower that the insurance carrier ofiers to setUe a claim for insurance beneBts. Lender
is authorized to collect and apply ihe insurance proooeds at Lender's option either to restoration or~epair of the Property
or to tl~e sums securod by this Mortgage. ~ ,
Unless I.en~r and Borrower otherwise agrce in writing, any such applicatan of proceeds to principal shall not extend
or postpone the c~ue date of the monthly installments referred to in paragraphs 1 and 2 hereof or change "the amount of
wch iastallments. If under puagraph 18 6eroof the Property is acquired by L.eoder, all right, tide and interest of $orrower .
in and to wy~iaturance policies aad in and to the procceds theroof resulting from damage to the Property prior W the sale
~ or uquiaition shalt pass to Lender te the extent of t6e surm secured by this Mortgage immediately prior to such sale or
uquiution. -
6. T~eservatioo ~d Maioteaaoce of Property; Le~e6old~ Coadominiuu~ ~'lanoed U~it Devdopmeats. Borrower
st~all k~oep the Property in good repair and s6a11 not commit waste or permit impairment or deterioration of the Property
~ and sba11 canply wit6 the provisioos of any kase if this Mortgage is on a leasehold. If this Mortgage is on a unit in a
condominium or a planned unit development, Borrower shall perform all of Bornower'a obligations under the declaration
~ ar coveoants crcating or governing the condom~nium or planaed unit ~development, the by-laws and tegulations of ihe
; condominium or planned unit deMelopment, and constituent documcnts. •If a condominium or plannod unit development
~ rida is e,xecuted by Borrower and recorded together with this Mottgage, ihe covenants and agreements of such rider
~ shall be incorporstec! into a~d s6a11 amend and supplement the covenants and agreements of this Mortgage as if the rider
were a put hereof.
l~otecfio~ d` I,e~der's Secoritj. If Borrower fails to perform the caveoants and agreements contained in ihis
~ort~a~, a if any actioa or proceoding is commenceei which materially affects Lendar
s intecest in the Properiy.
iocludina, but not limitod to, emiaent domain, insolvency, code enforcement. or arrangements or proceedings invotving a
b~dcntpt or decedent, thea I~eader at l.~ader's option, upon aotioe to Borrower, may make such appearances, disburse such
~ums and talce st~ch action ~u is ~s.wy w protect I.ender's interest, iocluding, but not limited to. disbu~setnent of
rptonable attomey's foa and a~try upon the Prnperty to make repairs. If Lender required matgage insurance u a
~ condition of making the baa socured by this Mortgage, Borrower shall pay the premiums required to maintain such .
~ imurance in eHect until wc6 time as the requiremeat for such insurance terminates in accordanee with Borruwer's and
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~ . B~~K289 ~A~E 318
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