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Uat~ouu Covan~rns. 8orrower and Ltr~de~ covcnant ~nd a~ra s~ tollows: . 1~ ~w~t ot M~e~l aN 6MenM. 8orrowe~ shall p~omptl) paY when due the pri~cipal ot and iMerat on tha indebtednpt evideaoed bp the Nwa p~epayment and late ctw~ as ~ovide4 in the Nde, aed the princip~l ot and interat oa aoy Fut~u+e Advu~ces'ecw~al b~? this Mo~qe. ~~i t+r TatM ri i~w~rce. ~bject to applic~bk law ar to s writtee waiver by Lender. eo~ ~+.~i wr to Leader on Ihe dsy monthly i~ntdlments ot principal and iotcrcc~ aro payal~le ur~der the Note. until the Note is paid in ~ull. a~an (harein •'Fundt'ti eqwl to one-twelfth ot the yearl~~ ~aa~~ ancl assessments which may attain priority over ~his More~aje, and ~oound nea on ~ba P~+npeny. if any. plus onatwelttA ot yearly~ premium installmeots tor haurd insurance. plus oaatwelfth ot yearly prcmium installments for mortsste insu~ancc, it any, all as t~easonably estimated initially and twm bme to time by Lender oa tbe buis ot aua.~mcnts and hills and reasonabk estimata thereot. 'Il~e FLnds shall be beld in an ins~itutic+n the deposiu or accounts of which sre inwred or ~uannteed by a Federal ot state ajency (includina Let~de~ iI Lc~de~ is such ao institutionl. I.e~der shall apply the Funds to pay said taxa. assessmeots. , iawranoe pramiumt and ~rouod rents. l.ender may na charge for u+ holdins and spplyinj the Fnnds. snalytin` uid account, orverifyint snd complina said assessments a~d bilh, unkss Lender pays Borrowe~ i~terost on the Funds ar~tf applicabk !aw ~ pernua Lender to make auch a charge. Borrower and Lender may ag~ee in writint at the time of execution of this MortZa~e tbat interat on the Funds shall be paid to ~Borrower. and unleu such asreement is made o~ applicabk law r~equir+a such interat to be pzid. Lender shall not be rcquircd to p~ay Borrower any intercst or earnings on the Funds. Lender sbaU pve W Borcovver, witbout charge, an annual ~ccounting ot the Funds showina credits and debits to the Funds and the purpose for wrhich esch debit to th~ Funds wu made. The Punds arc plodged u additional security 'for the sums secured by this Mortjaje. If tbe amount ot tbe Fuads held by Lender, together with the future monthly instatlme~ts of Funds payabk prior to tbe due data ot tua. as,sessmeau. inwnnce premiums and g~ound rcnts, shall exceed the amount required to pay said taxa. ass~ne~ts. i~urance premiums and around nnts as they htl due, such excess shall be. at Borrower's op~eon, either pranptly repaid to Bormwer ot credited to Borrower on monthly installments of Funds. If the amou~t ot the Funds l~dd by Leakr shal! not be wKicieat to pay tues, as~cs.unents. insurance premiums and ground rents as they fall due. Borrow~er sball pay to Lende~ any amount r~ecessary to ma~Ce up ~he deficiency within 30 days from the date notice is mailed by L,endar to Horrower requestin8 paYment thereof. ~ . Upoa paynxnt ia full of-all sums secured by ihis Mortgage, l.ender shall p~omptly refu~d to Borrower any Fun~ held by Leoder. If under para=raph 18 hereof the Property ia sold or the Propeny ~s othenvise acquircd by Lender. Lender ahall apply. no later than imtnediately prior to the sale ot the Property or its acquisition by Lender. any Funds held bv I.eoder at tl~e time of application as a crcdit against the sums secured by this Mongage. 3. A~lieatios ot ~e~s, Unless applicable law provides otherwise, all payments received by Lender u~der the Nott and paragraphs 1 and 2 hereof shall be applied by I_ender first in payment of amounis payable to Lender by Borrower unde~ pacsgraph 2 hereof. t6en to interest payabk on the Note, then to the principal of the Note, and then to interat and principal on any Future Advanoes. . ; 4. C6sttes; Litas Borcow~r shall pay a11 taxes, assessments and othcr charges, fines and impositions attributable to tbe Propetty which may attain a pnority over this Mortgag~. and leasehold payments or ground rents. if any. in the manner pmvided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payrrnnt, when due. directly to the payec theteof. Borrower shall promptly furnish to Lender all notica of amounts due under this paragnph. and in the avent Bormwer shall make payment directly, Bc~rrower shal! promptly turnish to l.ender receipts evide~ing such payments. Borrower shall pmmptly discharge any lien which has priority over this Mortgage; Provided, that Borrower shall rwt be required to discharge any such lien so long as Borrower shall agree in writ~ng to the payment of the obligatiun xcurcd by such lien in a manner acceptable to Lender, or shall in good faith contest such lien by, or defend eoforcement of such lien in. kgal proceedings which operate to prevent the enforcement of the 6en or forfeiture of the Property or any part thereof. S. Hmrd /ueurs~ee. Botrower shall keep the improvemen~s now• existing or hereafter erected on the Property insured against loss by 6rc, hazuds included within the term "extended co~erage", and such other ~huards u L.ender may require. ~ wd in wch amounts and for such periods as Lendec may require; providecf, that LenJer shall not require that the amount of such coverage exceed that amount of coveragt required to pay ~he sums secured by this Mortaaae. 'Il~e insura~ce carrier providing the insurance shall be chosen by Borrower subject to approva) by LenAer. provided, that such approval shall not be unreasonably withheld. All premiums on insurar~e policies shall be paid in the manner provided under paragraph 2 hereof or, if not paid in such manner; by Borrower makmg payment, when due. direcUy to the I insurance carrier. All insurance policies and renewals thereof shal! be in form acceptable to Lender and shall include a standard mortgage ~ ctause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policia and renewals thereoE. ~ ~ i , aad Borrower shall promptly furnish to Lender all renewal noiices and all receipts of paid premiums. In the event of loss. Bortow~r shall give prompi notice lo the insurance carrier and Lender. Lender may make proof of loss if noC made promptly by Borrower. • ~ Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or rcpair of the Property damaged, provided such restora~~on or repair is economically feasible and the security of this Mortgage is ~ not thercby impa~red. If such restorat~on or repair is not economically feasible or it the security of this Mortgage would be impaired, the insurance procceds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid to Borrower. If the Propeny is abandoned by Borrower, or if Borrower fails to rapond to Lender within 30 days from the ~ datr notice is mailed by L.ender to Borrower that ~he insurance carrier ofTers to settle a claim for insurance benefits. Lender is authorized tu collect and apply the insurance proceeds at Lender's option either to restoration or repasr of the Property # or to the sums secured by this Mortgage. Unless Lender and Borrower otherwise agree in. v?•riting, any such application of proceeds to principal shall not ex~end ~ or postpone the duc date of the monthly instalfinents rcferred to in paragraphs 1 and 2 hereof or change the amount of ; ~ such instaltments. If under paragraph 18 hereof the Property is acyuired by l.ender, all right, title and interest of Borrower in and to any A~surance policies and in and to the proceeds thereof resulting from damage to the Propeny prior to thc sa{e or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or acquisition. 6. Treserration aod Maintenaace of Property; Leasehulds; Condominiums; Planned Uait Devebpments. Borrower ~ shall keep thc Property in good repair and shall not comroit yvaste or permit impairment or deterioration of the Propeny and shall comply with thc provisions of any leate if this Mortgage ~c on a leasehold. If this Mortgage is on a unit in a ~ condominium or a planned unit developmen~, Borrower shall perform all of Borrower s obligations under the declaradvn , or covenants creating or governing the condominium or planned unit development. Ihe by-laws and regulations of the 5 condominium or planned unit development, and constituent Ja;umenic. lf a condominium or planned unit development ~ rider is executed by Borrower and recorded together whh thi~ Mortgage, the covenants and agreements ot such rider ~ shal! be incorporated into and shail amend and supplement the covenants anJ agreements of this Mortgage as it the rider ~ wert a part hereof. - • n ~ 7. PrMection ot I.endt~'3 Security. If Borrower fa~ls to per(~rm the covenams and agreements contained in this ~ Mortgage, or if any action or pra:eeding ~s commcneed wh~ch materially afTrctc I.enJer's interest in ihe Property. including. but not limited to. em~nent domam. in«,Iyenc}. c~xle enf~~rcemcnt, or •rrrangements or proceedings involving a ~ bankrup~ or dececiem. then 1_ender at Lender'~ opuon, upc~n notice to Borrower, ma} mrke such appearances, disburse such ~ sums and take such action as ~s necessary tu pro~ect l.ender's m~erest, including, but not limrted to, disbursement of ~ ~ reasonable at~omey's tces and emry upcm ~hc Proper~y to m~ke rcpairc. If Lender reyuircd mortgage insurance as a ' ~ cond~tion of mak~ng the ioan cecureJ by this Martgage. B~~rmwrr shall pay Ihe premiums requireJ to maintain such ~ insurance in cffect unlil such time as the reyi~irement for wch insurance Ierminate> ~n 3ecordance wilh Borrower's and E Bo K~o3 oA~~ 58Q. ~ ~ . - _ _ _ . _ _ _ ~ ~ .r _ u - . , ~