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UN/PORN COVBN~NT3. 8orrowe~ and l.ender cove~ant and a~ra u(oilows:
~ h7west ot M~c1M1 a~i t~tsra~. Borrower shail p~ompti~• pay when due the principsl of aad interest on the
indebtodnas evide~ced by the Note. P~epayment and late chargec a~ provided in the Note, and ihe principal ot and interat
on any Future Advances secured by this Mortgase.
2. i4~i tor Tua a~i lwra~ee. Subject to spplic~bk law ~~r to a written waiver by Lende~. Borrower shall pay
to Lender on ~he day monthly installments o( principal aod ~nt~rcc~ arr ~yahk under the Note. unlil Ihe Note is paid in tull,
a sum (herein "Fun~'~ equal to one-twelfth o! the yearl~ ~asc. anJ assessmeets which may attain priority over this
Mo~sse, ;nd ground rents on tt~e Pooperty, it any. E+lus one•twelfth of yearly prcmium installments for haa~rd insun~ce.
plus one-twelfth of yearly premium installmeots tor mortgage insurancc, i/ any, all as rcuonably estimated initially and trom ~
time to time by I.endet on the buis of assescmen~s and hills and reasonable estimates thercof.
The Funds shall be held in an instilutic?n tht depos+a or ~ccouots of which are iruured or gwranteed by a Federal ot
state agency (includina Lender if Lender is such an insti~ution). I.ender ~hall apply th~ Funds to pay said taxa. assestments.
insurance premiums and ground rcnls I ende~ may ~ot cbarge Ior so holding and applying the F~~nds. analyzin~ said account.
or verifyin~ and compilieg said assessments ~nd bills, unless Lender pays Borrower interat on the Funds and applicable law
permits Lender to make such a charge. Bc~rrower and Lende~ may agree in writing at the time of execu~ion ot this
Mortgage that intercst on thc Fu~ds shall be paid to Borrower, and unless such agreemen~ is made or applicable law
rcquira such inttrcst to be paid. Le~r shall not be rcquired to pay Borrower any interest or earnings on tlu Funds. Lender
shall Sive to Borrower, without charge, ao annual accounting af the Funds showing credits and debits to the Funds and the
' purpose tor which eaeh debit to the Funds wu made. The Funds are pledged u additional socurity for ~he sums secured
by this Mortgage. '
IE the amount o[ the Funds held by Lender, together with the (uture monthly installmenls of Funds payable prior to
the due data of taues, usessments. insurance prcmiums and ground rcnts, shall exceed the amou~t required to pay said taxa.
assaunents, insurance premiums aod ground rents as they fall due, such excess shall be, at Bonower's option, eilher
pro~nptly re~id to Borrower or credited to 8orrower oo monthly insallmeots of Funds. If the amount of the Funds
held by Leoder shall not be sul~cient to pay taxcs, assessments, insurance prcmiums and ground rents u ~hey fall due,
Borrower shall pay ~o Lender any amount necessary to make up the deficiency within 30 daps from the date notice is mailed
by I.ender to Borrower requesting paymcnt thercof. ~
Upon paymeat in [ull of all sums securcd by this Mortgage, I.ender shall promptly rcfund to Borrower any Funds
held by l.ender. If under paragraph 18 hercof the Property i~ sold or the Properey is otherwise acquircd by Lender, Lender
s6a11 apply. no later than immediately prior Io the sale of the Property or i~s acquisition br Lender, any F~oc' . held bv
I.eoder at the time of application as a credit =ga~nst 1he sums secured by ~his Mortgage.
3. Applicatjon ot Paymeats. Unltss applicable law providu otherwise, all payments received by Lender under ~he
Note and paragraphs 1 and 2 herco( shalf be applied by I_ender first in payment ot amounts payable to Lender by Bvrrower
under paragraph 2 hercof, then to interest payable on the Note, then to the principal of the Note, and then to intercst and
principal on any Future Advances.
4. ChuEes; Lkns. Borrower shall pay ap ~axes, assessmcnts and othcr charges. fines and impositions apributable to
tbe Prope:ty which may attain a priority over this Mortgage, and leaseho{d payments or gmund rents, if any, in the manner
provided under paragraph 2 hereof or. ~f nat pa~d in such manner, by Borrower making payment, when due, dircctly to the
payee thereof. Borrower shall promptly furmsh to Lender all notices of amounts due under this paragraph. aud in the event
Borrower shall make payment d~re~:tly. Borrower shall promptly furnish to Lender receipts evidencing such payments.
Borrower shall promptly discharge any lien which has pnonry over this Mortgage; provided, that Borrower shall not be
required to d~scharge 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 good faith contest such lien by, or defend enforcement of such lien in.
legal procecdings which operate to prevent the enforcement of the I~en or [orfeiture of the Property or any part thercof.
S. Hazud I~uraace. Borrower shall koep the improvements now existing or hereafter ererted on the Property insurod
against loss by fire, ha7ards included within the term "extended coverage", and such other huards as l.ender may reyuire
and ~n such amounts and for such periods as Lender may requirr; provided, that Lender shall not require that the amount of
such coverage exceed that amount of coverage required to pay the sums secured ~by this Mortaaae.
'Ihe ~nsurance carrier providing the insurartce shall be chosen by $orrower subject to approval by Lender. provided,
that such approval shall not be u~reasonably withheld. All premiums on insurance policies shall b~ paid in the manner
I provided under paragraph 2 hercof or, if not paid in such manner, by Borrower making payment, when due, dir+ectly to the
~ insurance carreer.
j All insurance policies and renewals thereof shall be in form accep~able to Lender and shall include a standard morigage
f clause in favor o( and in form acceptable to Lender. Lender shall have the right to hoid the policies and renewals thereof,
~ and Borr~wer shall prompUy furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss.
i Borrower shall g~~•e prompt notice to the insurance carner and I.ender_ Lender may make proof of loss if not made promptly
k by Borrowtr_
~ Unless l_ender and Borrovrer otherwix agree in writing, insurance procceds shall be applied to restoration or repair of
~ the Property damaged, prov~ded such restoration or repair ~s economically (easible and the security of this Mortgage is
not thereby impa~red. 1( such restorat~on or repair is not ecunomically feasible or if the security of this Mortgage would
~ be impaired. the msurance proceeds shall be applied to the sums secured by this Mortgage, with the eacess, if any, paid
~ to Borrowrr. If the Propertp is abandoned by Borrower, ar i( Borrower fails to respond to Lender within 30 days from the
date notice ~s ma~led by Lender to Borrower that the insurance carrier ofiers to settle a claim for insurance benefits, Lender
is authorized to collect and apply the insurance proceeds at l.ender's option eNher to restora~ion or repaer of the Property
or to the sums secured by this I~fortgage.
Unless Lendcr and Borruwer otherwitic agrce ~n wnting, any such applira~ion uf proceeds to pnncipal shall not ex~end
or postpone the duc Jate of the mon~hl~~ itm~tallmentti rrferred to in p~ragraph. 1 and 2 hereof or change the amount of
such installmenb. If under paragraph 18 hereof the Property ii acywred by I.ender, ali nght, title and interat of Borrower
in aod to any fnsurance policies and in and to thc proceeds thereof resulting (rom damage to the Propeny prior to thz sale
or acquisition shall pass to Lender to the e~tent of the Sums secured by this Moctgage immediately prior to such sale or
acquisition.
6. Presen~a~ion and ~taiotenance of Propert~; Lcacehulds; Cundominiums; Planned Unit Derebpments. Borrower
~ shall keep the Propeny in good repair and shall not comroit y~aste or permit impairment or deterioration of the Property
and shall comply with the provisions of any lease i( this Mor~gage is un a Ieasehold_ 1! this Mortgage is on a unit in a
condomimum or a planned un~t de~•elopment, Borrow•er shatl perform all o( Borrower's obligations under the declarahon
~ or covenants creating or govermng the condominium or ~lanned unit developmeM, the by-laws and regulations of the
~ condominium or planned unit development. and constituent documen~~. I( a condominium or planned unit development
nder u e~cecu~ed by Borrower and rernrded t~~gether w~th ~his Morigage, the covenants and agreements of such rider
~ shall be in~orporateJ into and sh:~ll smcnd anJ supplcment thc cuvcnants and agrcements of this Mortgage as if the rider
were a part hercof.
? 7. Proteclion of I.enders Securfty. If B~rr~.wer (a~h tc. ~xr(e~rm the covenantc and agreements contained io this
~ Mortgage, or if any aclion ~~r prcr.-eeding cnmmrnce.i wh~ch materially afTrctc I.ender's interest in the Propert}•,
tncludmg, bul rn~t hmi~ed to, em~nent doma~n, in~ul~cni), u~de en(i~rcemcnt, or arrangementc c~r proceedings invot~•~ng a
~ bankrupt ur detrdent, thrn I.ender at I.ender', opu~m, uExrn n<~t~ce to Borrvw•er, ma~ make such appearances, disburse such
~ sums and ~ake such acuvn a. is nece~tiar~ t~~ prc~Iect t_ender's mteresl. including. but not limited to, dixbursement of
~ reasonable anomcy'. fec, and emry up~~n thc Pr~pcny to make repau~. If Lcneier reyuircd mongage incurance as a
~ cvndrtion of making thc loan ticcurcJ by th~~ M~~rtFagc. B„~s~?KCr shall pa~~ thr prcmiums requireJ to maintatn such
~ msurance in etiect unt~l such time a~ ihc reyu~rrment f~~r .uch insurance ~rrminatrs in :iccordance with Borrower's anJ
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