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Uwr~ostsc Covst+artrs. forroM?er sad Leader oo+ronant and apse a: follows:
>l, rtptwssM et Psiatdprtl tnstl 1aMresl. eorrowsr shall Promptly Pay when due tlts prittcipat of sad interest on the
ietdebMdasst evidertoed br the Nose. preFayttreat sad late charges ss Provided in the NoN. sad tbs principal o[ sad intsr~est
as say Enlace Advsaoes second by this Mortgap.
t >frais ietr 7ltsss asttl lawrwea Subject to applicable law or to a written waiver b3? Leader. Borrower shall pay
to I.entlsr on the day moatblP iratallmarts of principal and intaest arc. payable under the Note. until the Note is paid b full.
over this
s sum arpein "Ftrods'~ equal boar-twelfth of the yearly taxes and assatsrrreatt which cry attsia priority
1?torlpp. and grourW t+eab oa t4e Property, it any. plus one-twelfth of yearlli' pretaitmr iaNslkttarb to hazard insurstroe.
plusone-tw~elitA of yesrly pe+emiutti installments for mortgage inu~rance, if any. all as ressonabllr estimated initially and tr~om
time to tiros by Lander on the bgis of ss>eurnents sad MIIs and reasonable atitnates thereof.
The Fonds sbaN b held is sa institwion the deposia or accounts of which aro inwt+ed or guaranteed by a Fedeal at
state agency (incFtding I„gndar if Lender s such an itrstitution). lender shall apply the Funds to pay said taxes, astoasnretrts.
imurarroe premium std JII~~ rents, lender may nil charge for so holding sod applying the Funds, analyzing said account.
or vaitying.and compiling said assessments and bilhj, unless Lander pays Borrower interest oa ibe Funds aril appliabk bw
permits Larder to make such a charge. Borrower sad Lender may agree in writing at the time of execution of this
Mortgap that interest on the Funds :ball be paid to Borrower. and oaks such agroertrart is made a applicable law
requires such inta+est to be paid, Lender Mall not be required to pay Borrower any interest or earnings on the Funds. bender
shat give to Borrower, wit6art charge. an annual aooouMing of the Funds showing credit and debits to this Funds aril the
purpose [or which each debit to the Futile was made. The Funds arc pledged as additional security for the wms secured
by thi: Mortgage.
T< the amount of the Fund heW by Leader. together with the future monthly installments of Funds payable prior to
the due dates of taxes. assessrrreats. ietsuranoe premium and pound rents. shall exceed the amount required to pay said taxes,
aaasments, inturanoa ptatniums sad gourd carts as they fall due, such excess shall be, at Borrower's option. either
promptly repaid to Borrower a credited to Borrower oe monthly installment: of Funds. if the amount of the Funds
lreid bP I.etodsr-sball not ba n>LBcisaR to pay taxes, asseaments. insurance premiums and ground rcras as they fall due.
Borrower shall pay to Fender say amount neoarsary to make up the deficiency within 30 days from the date notice is mailed
by Deader to Borrower requesting payment thereof.
Upon payment is [uB of all sums secured by this Mortgage, Lender shall promptly refund to Borrower any Funds
hdd by Leader. If under patagraplr 18 hereof the Property is sold or the Property rs otherwise acquired by Leader. Larder
stall apply, no biter than iasmediatdy prior to the sale of the Property or its acquisition by Larder. say Funds held by
Lender at the time of application ss a credit against the sums secured by this Mortgage.
3.. App>ikatlaa st Pgaseab. Unless applicable law provides otherwise. all payments received by Lender under the
Note and paragraphs I and 2 hereof shall be applied by Larder first in payment of amounts payable to Lender by Borrower
under parapaph 2 hereof. then to interest payable on the Note, then to the principal of the Note, and then to intereu and
principal oa any Fraure Advances.
4. Crasger, Lksrs. Borrower shall pay all taxes. assessrrrents and other charges, fines and impositions attributable to
the Property which may attain a priority over this Mortgage, and leasehold payments or grand rents, if any. in the manner
pton?ided under paragraph 2 hereof or, if not paid in such manner, by Borrower racking payment, whoa due. directly w the
payee tha+eof. Borrower shall promptly furnish to Lender all notices of amount: due under this paragraph, aril in the event
Borrower shall make payment directly. Borrower shall promptly furnish to Lender rexeipts evidencing such payments.
Borrower shall promptly discharge any lien which has priority over this Mortgage; provided. that Borrower shall not be
r+equirod to discharge any such lien so bog as Borrower shall agree in writing to the payment of the obligation secured by
such lien in a manner aeoeptabk to Lender, or shall in good faith contest such lien by, or defend exrforanrent of such liar ia,
legal proceedings which operate to prevent the enforcement of the lion or forfeiture of the Property or any part thereof.
S. Harasd Inwsance. Borrower shall keep the improvements now existing or hereafter eroded on the Property iraureed
agairnt loss by fire. hazards included within the term "extended rnverage", and such other hazards as Leader. may require
and in such amount: and for such periods as Lender may require; provided. that Lender shall riot require that the amount of
such coverage exceed that amount of coverage required to pay the sums sexured ~y this Mortgage.
'Ibe insurance 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 shill be paid in the manner
~ provided under paragraph 2 herewf or, if riot paid in such manner, by Borrower msking payment, when due. directly to the
i insurance carrier.
All 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 scoeptabk to Lender. Lender shall haul the right to hold the policies and renewals thereof,
and Borrower shall promptly furnish to Lender all renewal notices and all rexeipts of paid premiums. In the event of loss,
Borrower shall give prompt notice to the insurance carrier and Lender. Larder may make proof of bas if not made promptly
by Borrower.
Unka: Lender and Borrower otherwise agree in writing.. insurance proceeds shall be applied to restoration or repair of
the Property damaged, provided such restoration ex repair is economically feasible and the security of this Mortgage is
not thereby impaired. If such restoration eN repair is not economically feasible or if the security esf 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
date notice is mailed by Larder to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender
is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property
or to the sums secured by this Mortgsge.
Unless Lender and Borrower otherwise agrce 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 1 and 2 hereof or change the amount of
wch iraWlments. If under paragraph 18 hereof the Property is acquired by Lender, all right, title and interest 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
or acquisition shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
acquisition.
f. Ptreservstioa aael Malmteaaace of Property; Lesssebdek; Condoariniunrsy Planned Uak Devdnpaenb. Borrower
shall keep the Property in good repair and shall not comrpit 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. If this Mortgage is on a unit in a
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 devebpment, and constituent documents. If a condominium or planned unit development
rider is executed by Borrower and recorded together with this Mortgage. the covenants and agreements of such rider
shall be incorporated into and shall amend and supplement the covenants and agrcements of this Mortgage as if the rider
were a part hereof.
7. Protection erf 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 interest 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 Borrower, may make such appearances, disburse such
sums and take such action as is necessary to protect lenders interest. including. but not limited to. disbursement of
reasonable attorney's tees and entry upon the Property to make repairs. If Lender required mortgage insurance as a
condition 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 such insurance terminates in accordance with Borrowers and
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