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UNIFORM COVEN~NTS. Borrower and LenJer covenant and agree as fallaws:
1. T~ed ot Priocip~i and laterest. Burrowe~ shall promptly pay whc~ due the principal at and interest on the
i:~debtedneu evidenced by the Note. prepayment and late ch:~rge~ a. pmvicied ~n the Note, and the ptincipal of and intercs~
on aay Future Advances securai by this Mortgage. '
2. Rtiods for Tua snd I~wraace. Subject to applicahle law ~~r to a writ~en waive~ by ~ender. Borrower shail pay ;
to l.ende~ on the day moruhly installments of p~incipal and intrrr.t .~rr payablc u~der the Note, until the Note is paid in [ull. '
a sum (hercin "Funds") equal to one-twelfth o( ~he ycarl~ ~a~~~ anJ acsessments which may attain priority ovet this
Mort~age, and gmund rents on Ihe Pmperty, it a~y, plus onc-twcl(~h ol yea~ly premium installments for hazard insurance.
plus one-twelfth of y~arly prcmium iostallments tor mortgage insurancc. if any, all as reasonably estimated initially and trom
time to time by Lender on the buis of ~ssescments and hills ~nd re•r~anable eslimates thereof.
'Il~e Funds shall be held in an instituti~.n the deprnu. or arcounts ot which are insurcd or guaranteed by a I='ederal or
state agency (including Lender if Lender is such an institution). I.ender ~hall apply the Funds to pay said taxes. as.cessmenls.
insuraace premiums and ground tents. I.ender.may no1 charge lor u~ holding and applying the F~~ndc. analyzing caid account,
or verifyi~g and compling said assessments anJ bilh, unless I.ender pay~ Borrower interest on the Funds and applicabte law
permits Lender to make such a charge. Borrower and t~nJer may agree in writing at the time o( execution ot this ,
Aiiortgage that interat on the Funds shall t~c paid to Borrower, and unless such agreement is made or applicable law
requira such i~terat to be paid. Lender shall not be required to pay Borrower any interat or earnings on the Funds. Lende~
sha!! aive to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the .
purpoae for which tach debit to the Funds was made. 'The Funds are pledged as additional security~ for ~he sums ucured
by this Mortgage.-
If the amount of the Fuads held by i.ender, together with the iuture monthly installments of Funds payablc prior to
the due dates of taxes..assessments. insurance premiums and ground rents, shall exceed the amount required to pay said taxes.
a:sasments. insutanee premiums and ground rents as they (all due, such excess shall be, .at Borrower s ~ptio~, either
pranpdy repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of thc Funds
held by Lender shall not be suf6cient to pay taxa. assessments, insurance premiums and ground rents as they fall due,
Borrower shall pay to L.ender any amount r~ocessary to make up the deficiency within 30 days from the date notice is mailed ,
by Leoder to Borrower tequesting payment thereof.
Upon payment in full of all swns secured by this Mortgage, d_ender shall promptly refund to Borrawer any Funds
heW by L,ender. If under paragraph I8 hereof the Property i~ sold or the Property is otherwisc acquired by Lender, Lender
shall apply, no later than imrttediately 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 Mortgage.
3. Applicataa of Paymeats. Unless applicable law provides otherwise, all payments received by Lender under the
Note and paragraphs 1 aud 2 hereof shall be applied by I.enJer first in payment ot amounts payable to Lcnder by Borrower
uader paragraph 2 bercof. t6en to interest payable on the Note, then to the principal of the Note. and then to interest and ~
prir~cipal on any Future Advanoes.
4. Crtt=e~ Ueas. Borrower shall pay all taxes, assessments and othcr charges, fines and impositions attributable to
We Property which may attapi a priority over this Mortgage, and leasehold payments or ground rents. if any, in the manner :
provided under paragrnph 2 hereof or, if not paid in such manner, by Borrower making payment, whon due, dircctly to the
payee tha+eof. Borrower sdall promptly fumish to Lenckr ali notices of amounts due under this paragraph, and in the event
Borrower shall make payment directly. Borrower shall promptly (urnish to l.ender receipts evidencing such payments. ~
Borrower shall promptly discharge any lien which hat priority over this Mortgage: provided, that Borrower shall not be
roquired to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by
such lien in a manner acceptable to Lender. or shall in go~d faith contes~ such lien by, or defend enforcement of such lien in,
legal proceedings which operate to preveat the enforcement of the lien or forfeiture of the Property or any part thereof.
S. Ha:ard iowrance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
against loss by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
and in such amounts and for such periods as Lender may require: provided, that Lender shall not require that the amount of
such rnverage exceed that amo~nt of coverage required to pay the sums secured by ihis Mortgage.
T6e i~urance carrier providing the insurance shall be chusen by Bonower subject to approval by Lender. provided, <
that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner '
providod under paragraph 2 hereof or, if not paid in such manner, by Borcower making payment. when due. directly to the
~ inwrance carrier.
; All insurance policies and renewals thereof shall be in form acceptable to Lencier and shall include a standard mortgage
~ ciause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, :
k and Borrower shall promptly furnish to~ Lender all renewal notices_and all receipts of paid premiums. In the event of loss.
! Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
i by Borcower. -
! Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
i the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is
! not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Mbrtgage would
` be impaired, tbe insurance proceeds shall be applied to the sums secured by ihis Mortgage, with the ezcess, if any. paid
; to Borrower. If the Propeny is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
~ date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
; is authorizod to collect and apply the insurance proceeds at Lender's option either to restoration or repaer of the Propert~~
i or to the sums secured by this Mortgage. '
! Unkss Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
~ or postpone the due date of the monthly installments rcferred to in paragraphs 1 and 2 hereof or change ~he amount of
~ such installme4tt. If under paragraph 18 hereof the Property is acquired by l.ender, alf right, title and interest of Borrower .
; in and to any insutance policies and in and to lhe proceeds thereof resulting from damage to the Property prior to th~ sale
~ or acquisition shall pass to I.ender to the extent of the sums secured by this Mortgage immediately prior to such sale or
€ acquisition. _
~ 6. Preservatiao aod Maintenaoce of Property; Leaceholds; Condominiums; Planned Uait Devebpmenfs. Borrowcr
~ shall koep the Property in good repair and shall not comroit waste or permit impairment or deterioration of the Property
and shall comply with the provisions of any leau if this Mortgage is on a leasehold. 1[ this Mortgage is on a unit in a
condominiucn or a planned unit development, Borrower shall pertorm all of Borrower
s obligations under the declaration
~ or'covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the
~ condominium or planned unit development, and constituent documents. tf a condominium or planned unit development
` rider is executed by Botrower and recorded together with this Mortgage, the covenants and agreements of such rider
~ shall be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
~ were a part hereof.
7. Protection of Leoder's Securfry. If Borrower fails to perfarm the covenants and agreements~contained in this
~ Mortgage. or if any action or proceeding is commenceJ which materially affects I.enJer's interest in the Property,
~ including, but not limited to, eminent domain, insoivency, code enforcement, or arrangements or proceedings involving a '
~ bankrupt or decedent. then Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such
~ sums and take sueh action as ia necessary to protect Lender s interest, including, but not limited to, disbursement of -
~ reatonabk attomey's fea and entry upon the Property to make repairs. If Lender required mortgage insurance as a
condition of making the loan secureci by this Mortgage, Borrower shall pay the premiums required to maintain such
~ insurauce in eHect until such ume as the requirement for such insurance terminates in accordance with Borrower s and `
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