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UMtron~ Covan~~ns. Hortewtr ~ad I.endet oovenant and s~roe u fdlow:: `
L T~t M hi~e~l ~M Wete~l. 8orwvrer ~all Pr~+M~) PaY when due tl~e principal of and interat on the ;
indeb~edt~ea eridenoed b~? tbe Not0. p~~t snd late clw~`es a.c provided in the NMe. ~nd the principal ot and iMarat
aa any Futute Advanoes securod bp this Morttsse.
llri Nr Taaps Mi I~wn¦a~t. Subjat ~o applical+b law .,r to a written waiver by Lender. Bono~wcr shall pay
to Leader on ~l~e d~y monthly installments of principal aod interes~ arc payabk unde~ ~he Note. until the Note is paid in tull. ~
s wm (Mt~eln "Fund~'~ oqusl to a~e-tvrelRh of the yea~l~- tax~~ ~nJ atsessments which msy attain priority o~e~ this ~
Mortsa~e, and ~muad reaa on the P~+opehy. it any, plus one-tweltth of ycarl~i~ premium in~dlmenb for. hazard insura~ce.
es
plus oottwelfth oE yearly ptaniwn iastallments tor morttaje insu~ance. it any. dl ss r~essonably estimated initially and trom
time to time by Leade~ on tbe basis of auessmenls aad hills and rcasonabk estimata thereof.
The Funds ~hsll be heW in an institWicu~ the deposiu or aceounts of ahich arc insured or Naranteed by a Fedenl ot ~
sta~e s~ency (includina L.ende~ if Lcnder is such an institutionl. 1_ender shall apply the Funds to pay said taxa. assessments.
ipwtanc~e premiums and p+ound roets. l.ende~ may na1 charge for u+ holdin~ and applyinj the Fnnds. analyzin` said accoun~
ot verityins aad oomplin~ said sssessments and bills. unlas l.eode~ pays Bonowe~ intercst on the Funds and applicabk law ~
pecmits Lender to make wch a charte. Borrowe~ aad Lender may a`ra in writinj at the time of exccution ot this
Mort~,e tLat ioterat on the Funds shall be paid to Bort~ower. and unkss wcb aar~eement is made or applicabk law
requires wch iatecat to be psid, Lender shall not be rcquired to pay Borrower any interat or earnings on the Funds. Lender
slWl pve W Borrower, without char=e, an a~nwl aaounting of the Funds showina credits and debits to the Funds a~d the
purpose for which acb debit to tbe Funds was made. The Funds arc plodgod u additional security for the sums secured
by t6i: Mott~ate•
If tbe amount ot tbe Funds held by Lender. together with the future nwnthly i~stallments of Funds payabk prior to
the due dates of taxa. assessmeab. iasurance ptemiums and ground rents, shall excecd the amount requircd to pay said taxa.
app~neats. iasuranoe prcmiuau and grounQ rents as they fall due. such excas shall 6e. at Borrower's op~ion. either
promptly repatd to Hornuwer or credited to Bornower on monthly installmen~: of Funds. I[ the amount of the Funds
bdd by Leoder sball aot be wRcient to pay taxes. aa~asmenu. insurance premiums a~d ground rents u they fall due. _
Bon+o~?er s6a11 pay to l.eader any amou~t necessary to make up tt~e deficiency within 30 days from the date notice is maikd
by Lwde~ W Horrower requatins payment thereof.
Upon payment ia full of aU sua~s socured by this Mongage, t.ender shall promptly rcfund to Borrower any Funds ~
6dd by L.ender. If uader pusuapb 18 heroof the Properiy ia sold or the Propeny ~s otherwise acquired by Lender. Lender
s6ap apply, no lattr tban immediately prior to the sak of the Propeny or its acquisition by Lender. any Funds held bv
I.ender st the time of application as a crcdit against the sums secured by this Mortgage.
3. A~iicatio~ ot hq~. Unlas applicabk law provida otherwisc, all payments receivod by Lender under the
Note aad para~raphs 1 and 2 hercof shall be applied by Lender first in payment ot amounta payable to Lender by Borrower
under puaaraph 2 he~+eof. then to interest payabk on the Note, then to thc principal of the Note. and then to interat and
priocipal on any Future Advaooes.
1. Crar~es; Iieas. $orrower shall pay all taaes, asscssments and other charges, fines and impositions attributable to
the Property which may attain a priority over this Mortgage, and leasehold payments or gmund rtnts. if any. in the manoer
pi+o~vided uader paragraph 2 heroof or, if not paid in such manner, by Borrower making payment. when due. directly to the
payae tl~eoeof. Borrower shall promptly fumish to Lender all notices of amounts due under this panaraph. and in the event
Borrower shall make payment dirccUy, Borrower shall promptly fumish to l.ender roceipts ev~dencing such payments.
Borrower shall promptly discharge any lie~ which has priority over this Mortgage; provided, ~hat Borrower shall not be
rcquirod to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligaliun securod by
such lien in a manner acceptabk to Lendtr, or shall in good faith contest such lien by. or defend enforcement of such lien in,
kgal proceedings which operate to prevent the enforcement of the lien or [orteiture of the Property or any part theteof.
S. Hazsrd Isau~a~ce. Borrower shall koep ihe improvements now existing or hereafter erected on the Property insured
against loss by firc, bazards included within the term "extended coverage", and such other huards as Lender may require
and ia wch amounts and [or such pcriods u 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 securcd by this Mortgase.
; The iasuranoe carriar providing the insurance shall be.chosen by Bonower subject to approval by Lender, provided,
that such approval shall not be unreasonably withheW_ All premiums on insurance policies shatl be paid in the manner
' provided unckr paragnph 2 hereof or. if not pai~ in such manner, by Borrower making payment. when due. ditectly to the
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~ inwrance carrier.
~ All insurance policies and renewals therrof shall be in form acceptable to L.encier and shall include a standard mortgage
clause in favor of and in form acceptabk to Lender. Lender shall have the right to hold the policies and renewals thereof,
and Borrower shall prompUy furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss.
Borrower shall grve prompt notice to the insurance carrier and Lender. Lerider may make proof ot loss if not made promptly
by Borrower. _
' Unlas Lender and Borrower otherwise agree in writing, insuraoce proceeds shall be applied to restoration or. rcpair of
the Property damaged, provided such restontion or repair is economically feasi6le and the security of this Mortgage is
not therehy 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 i( Borrower fails to respond to Lender within 30 days from the
date ootice is ma~led by Lender to Borrower that the insurance carrier ofTers to settle a claim for insurance benefits, Lender
is authorized to collect and apply the insurance proeceds at Lender's option either to restora~ion or repa~r of the Propertv
~ or to the sums securai by this Mortgage.
~ Ualess Lender and Borrower othervaise agree in writing, any such applica~ion of proceeds to principa) shall not extend
ar pcutpone the due date of the momhly installments re[erred to in paragraph~ 1 and 2 hereof or change the amount of
wch installmeots. If under par~graph 18 hereof the Prof.erty is acquired by Lender, all right, title and interest of Borrower
~ in and to any kuurance policies and in and to the pra:eeds thereof resul~ing from damage to the Propeny prior to th~ sale
or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
~ acquisition.
6. Presenadoo and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Derebpments. Borrower
_ shall keep the Property in good repair and shall not com~pit Wasle or permit impairment or deterioration of the Property
and shall comply with the provisions of any leau it this Mortgage is on a leasehold. It this Mortgage is on a anit in a
~ condominium or a planned unit development, Borrower shall perform all of Borrower s obligations under the declaration
~ or coveoants creating or governing the condom~nium or planned unit development, the by-laws and regulations of the
condominium or planoed unit development, and constituent documentc. 1( a condominium or planned unit development
~ rider is executed by Borrower and recorded toge~her with this Mortgage, the covenants and agreements of such rider ~
~ shall be incorporated ~nto and shall amend and supplcment the co.~enams anJ agrcements of th~s Mortgage as i( the riJer
~ were a part hercof.
Protectioa of Leoder's 5ecurffy. It Borrower (a~lc to perform the covenants anJ agreements contained in this
Mongage, or if any action or proceeding ic ci~mmenced w~hich materially afTects l.enJer's interest in the Propeny.
including. but nM I~mited to. em~nent domain. inu~h•ency, code en(orcement, or arrangcments or proceedings involving a
bankrupt or decedent. ~hcn l.ender at Lender's op~ion, up~m notice to Borrower, may make such appearances, disburse such
sums and takt such attion as is neceuary tu protect Lender's interest, includ~ng. but not limited to, disbursement of
reasonable auorney's (ces and entry upon thc Propcrty :o make rcpairc. If L~ndcr rcyuircJ mortgage insurance as a
condi~ion of making the loan cecured by ~h~s Marlgage. Borruwer shall pay the premiwns required to maintain such
insurance in eftect unti) such time as the rcyuirement for .urh mwrance terminatr~ in :~ccordance with Borrower's and
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. ~U"~ 312 P~sE2257 ~
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