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Ut+tloetlt Oovttwstm. Hotrrwer sad lertder covenant and agree a follows:
>Aq~seM at hYelpal tree ltrleseel. Borrower :hall promptly pay when dus the principal of and interest on the
irtdebtedtsae svideaoed by the Note. prepayment and late charges as provided in the Note, and the principal of aril inteteat ~
oa soy FtKtae Advat>ces secured by this Mortgage.
1 Zl1ri fler'lletsea W 6etnat~e. Subject to applicable law or to a written waiver by Lander, Horroa?er shag Pay
to Lauder on the day monthly installments of principal and interest arc paysbk under the Notes. until the Note a paid in full,
• stem (Itereio "Fuuds'9 equal to oro-twelfth of the yearly tax~~ and a:sasmeMs which tuay attain priority over this
Mortgages. and ground tmtt on the Property. if any, plus one-twelfth of yearyi~ premium installrrtenu for hazard insurance. 1
plus ones-twdRh o[ yearly pterrtium installment: for mortgage inu~rancs, it any, aH as trssonably estimated initially and from
tints to tinge by Leader oa the basis of assessments and hills and reasonable estimates thereof.
'I~e Funds shall be held in an institution the deposits or accounts of whicA are insured or guaranteed by a Federal or
state agency (including Fender if Lender a such an irWitution). Lender shall apply the Funds to pay said taxes. assessments,
iawrartce premiums and ground rents. lender may not charge for sn holding and applying the Funds. analyzing said account.
of varifyinB.aad compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and appligble law
permits Larder to make such a charge. Borrower aril Lender may agree in writing at the time of execution of this
Mortgages that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law
roq~ such interest to be paid. lender shall not be required to pay Borrower any interest or earnings on the Funds. Lander
shill give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Furls and the
purpae for which each debit to the Funds was made. The Funds arc pledged as additional security for the sums secured
by this Mortgage.
If the attnount of the Funds bill by Lender. together with the future monthly installments of Funds payable prior to
the due: dates of taxes. asseameots, insurance premiums and ground rents, shall exceed the amount required to pay uid taxes.
aaatmeots. iastrrattoe premiums and ground rents 'as they fall due, such excess shall be. at Borrower's option. either
promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
held by Leoder~sltall cot be wt8cieat to pay tsxes. assessments. insurance premiums and grourd rents ss 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 regtxstiog payment thereof.
Upon paytaeat is full of all sums sceurcd by this Mortgage. Lender shall promptly refund to Borrower any Funds
held by Leader. If under paragraph 18 hereof the Property is sold oa the Property rs otherwise acquired by Lender, Lender
shall apply, ra later ihsn immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by
Caroler at the time of application as a credit against the sums secured by this Mortgage.
3. Ap~Ycatiost et 1TaySestls. Unless applicable law provides otherwise, all payments received by Lender under the
Note sad paragraphs 1 sad 2 hereof shall be applied by Lender first in payment of amounts payable to Lender 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 Advaaoes.
1. Clartes; Cicero. Borrower shall pay all taxes, assessments and other charges, fines and impositions attributable to
the Property whkh may attain a priority over this Mortgage, and leasehold payments or ground rents. if any. in the manner
provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due. directly to the
payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph. and is the event
Borrower shall makes payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
Borrowrer shall promptly discharge any lien which has priority over this Mortgage: provided, that Borrower shall not be
required to discharge any such lien so long as Borrower shalt 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 io.
legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
S. Bimrd taaraace. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
agairr:t lass 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 coverage exceed that amount of coverage required to pay the sums secured ~y th.is Mortgage.
'ILe iesrrranoe carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided,
i that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid in the manner
provided under paragraph 2 herYOf or, if not paid in such manner, by Borrower making payment, when due. directly to the
inwraace carrier.
i All insurance policies sad 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 reaipta of paid premiums. In the event of loss.
t Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loos if not made promptly
~ by Borrower.
~ Unless Lender and Borrower 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 the security of this Mortgage is
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 excesi, if any, paid
to Borrower. If the Property is abandoned by Borrower, or it Borrower tails to respond to Lender within 30 days from the
t date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
I is authorized to collect and apply the insurance prooceds at Lender's option either to restoration or repair of the Property
$ or to the wms secured by this Mortgage.
Unless 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 referred to in paragraphs I and 2 hereof or change the amount of
such installments. If under paragraph 1 S hereof the Property is acquired by Lender, all right, title and interest of Borrower
in sad to any ktsurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale
or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
1 acquisition.
= f, ptraerratioa and Maieterwace of Property; Leaseholds; Condominiums; Planned Udt Derebpmeats. Borrower
shall keep the Property in good repair and shall not commit yvaste or permit impairment or deterioration of the Property
and shall comply with the provisions of any lease if this Mortgage is on a leasehold. !f this Mortgage is on a unit in a
3 condominium or a planned unit development, Borrower shall perform all of Borrowers 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
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
were a part hereof.
7. Protective of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this
p Mortgage, or if any action or proceeding is commenced which materially affects !_ender's interest in the Property,
~ including, but not limitsd to, eminent domain, i~sc?Ivency. code enforcement, or arrangements or proceedings involving a
bankrupt or decedent, then Lender at lender i option, upon notice to Borrower, may make such appearances, disburse such
sums and take such action as is necessary to protect Lender's interest, including. but not limited to, disbursement of
reasonable attorney's tees and entry upon the Property to males repairs. if Lender required mortgage insurance as a
condhion of making the loan secured by this Mortgage. Borrower shall pay the premiums required to maintain such
insurance in effect until such time as the requirement for wch insurance terminates ~n accordance with Borrower's and
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