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UNIP(1RA1 COVBNANTa. Borrower and Le+rder covenant and agree u follow::
1. >nq~sent e! atstl LrMtssf. Borrower shall promptll; pay when due the principal of and interest on the
indebtedaaa evidenced by the Note, prepayment and late charges u provided in the Note, and the principal o[ and interest
oa any Future Advances secured by this bortgage.
!iris foe Tastes arri Lrwrancw Subject to applicable 4w or to s writtsn waiver by Leader. Borrower shall pay
to Lender on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in fuU,
a sum (herein "Funds' equal to one-twelfth of the yearly taxes and assessments which tnay attain priority over this
Mortgage, and ground renb oa the Property, if say. plus onatwelfth of yearly premium installmenb for hazard iraurana,
plus ono-twelfth of yearly premium installments for mortgage inwrance: if any, all u reasonably estimated initially and from
time to time by Leader oa the bash of asuumena and bilb and reasonable estimates thereof. i
'ilea Ftrods shall be held is as institution the deposits or account: of which are insured or guaranteed by a Pederal or '
state agency (including Lender if Fender is such an institution). Lender shall apply the Funds to pay said taxes, assessateats,
insurance premiums and ground rents. Lender may not charge for so holding and applying ilia Funds. analyzing uid account.
or verifying and compiling said assessments and bilb, unless Lender pays Borrower interest oa the Funds and applicable law s
permits Leader to make such a charges. Borrower and Leader may agree in writing at the time of execution of this.
Mortgage that interest en the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
r+equir+es such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
shall give to Borrower, without charge, an annwl aooounting of the Funds showing credit aqe! debits to the Funds and the
purpose for which each debit. to the Funds wu made. The Funds err pledged u additional security for the sums secured
by this Mortgage. ~ -
TE the amount of the Funds held by Lender. together with the future monthly installments of Funds payable prior to
the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said toes. ?
i?sseaaraents, iruuranoe premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
promptly repaid to Borrower ~ credited to Borrower oa monthly installments of Funds. If the amount of the Funds
held by Leader shall not be suRicient to pay taxes. assessment:. insurance premiums and ground rents as they fall due,
Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
by Leader to Borrower rtqueating payment thereof.
Upon payment in full of all sums secured by this Mortgage, Lender shall- promptly refund to Borrower any Funds
held by Lender. If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lender. Lender
shall apply, Ro later than immediately prior to the sale of the Property or its acquisition by Lepde~r, any Funds held by
Lender at the time of application as a credit against the sums secured by this Mortgage: '
3: Appiicatioo of payateets. Unless applicable law provides otherwise, all payments received by Lender under the
Nora and paragraphs I and 2~hereof shall be.applied by Lender first is payment of amounts payable to wader by Borrower
under paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and ~
principal on any Future Advances. - ~ - ~ ' - ;
4. C>targe~ Lkas. Borrower shall pay all lazes, assessmenis-artd'atlky°~Charge
dines $nd' imptisitions attributable to i
the Property which may attain a priority over this Mortgage. and leasehold payments or ground rents, if any, is the manner !
provided under puagraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due. directly to the I
payees thet+oof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the event
Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments:
Borrower shall promptly discharge any lien which has priority over this Mortgage; provided, that Borrower shall not -be
required to discharge any such lien so bng as Borrower shall agree in writing to the paytnent~of the obligation secured by
such lien in a manner acceptable to Lender. o_ r shall in good faith contest such lien by, or defend enforcement of such lien in,
legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property o~- any part thereof.
^~)Etasard ia~rrance. Borrower ahall~keep the irllRrgveprents.rtow existing or hereafter erected on the Property insured
against loss by Seta; hazards Irtctuded 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 re6quia ti~at tba amount of
such coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
The imurance carrier providing the insurance shall be chosen by Borrower 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
providesd under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
insurance carrier. -
AB insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
clause in favor of and in form acceptable to Lender. Lender shall have the right to'hold the policies and renewals thereof,
and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of k>ss,
Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
by Borrower.
Unless Lender and Borrower otherwise agrce in writing. insurance proceeds shall be applied to ratoration or repair of
the Property damaged, provided such restoration or repair is economically feasible and the security of this Mortgage is .
i not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Mortgage- would
be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage, with the excess. if any, paid
to Borrower. If the Property is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
I date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
~ is authorized to colket and apply the insurance proceeds at Lender's option either to ratoration or repair of the Property
or to the surra secured by this Mortgage.
Unless Lender and Borrower otherwise agrce in writing. any such application of proceeds to principal shall not extend
of postpone the due date of the month{y installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments. If under paragraph 18 hereof the Property is acquired by Lender, all right, title and interat of Borrower
~ in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
s or acquisition shall pass to Lender to the extent of the sums sceured by this Mortgage immediately prior to such sale or
~ acquisition.
Q 6. Preaersatiioe sad Maiateoance of Property; Laeeholdx Condominiuux Planned Udt Devebpments. Borrower
~ shall keep the Property in good repair and shall not commit wute or permit impairment or deterioration of the Property
and shall comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a unit in a
f condominium or a planned unit development, Borrower shall perform 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. If a condominium or planned unit development
'r
rider is executed by Borrower and recorded together with this Mortgage, the covenants and agrcements of such rider
shall-be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider
we[e a part hereof.
7. Pr+etectioo of Leader's Security. If Borrower fails to perform the covenants and agreements contained in this
Mortgage, or if any action or proceeding is commenced which materially affects Lender's interat in the Property,
including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
bankrupt or decedent, then Lender at Lender's option, upon notice to Bc:rower, may make such appearances, disburse such
sums and take such action u is necessary to protect Lender's interest, including, but not limited to, disburaEriiKlit of
reasonable attorney's fees and entry upon the Properly to make repairs. If Lender required mortgage insurance u a
condition of making the loan secured by this Mortgage, Borrower shall pay the premiums required to maintain Bch
inswance in effect until such time as tbe requirement for such insurance terminates in accordance with Borrovyyr'f and -
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