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Urtuoettr Covtent,?t+rs. lorrower acrd Leader covenant and agree u fellows:
L ltg7teat et )relse}al aid 6MeseM. Borrower shall promptly pay when due the principal of and interest on the
indebtedrteas evideuoed by the Note, ptepaytaeat and late charges as provided in the Note, and the principal of and inter+at
oa gay Futturc Advances secured by this Motygage.
!ts¦is gir 7ttwa W 6teaeaaa~e. Subject to applicable law tx to a written waiver by l.ertder. Borrower shall pat
to Leader oa the day ttrioathly iastallntents of principal and interest ~rc payshk under the Note. until the Note is paid in full,
a shpt pta+eia "Fuods•~ equal to one-twelfth of the yearly- ta>.~'s and assessments which may attain priority over this
Mortgage. and grand read oa the Property, if any, plus one-twetftb of yearly, premium installments for hazard insurance.
- plus Otte-twelfth 0< yearly premium irWallments tor' mortgage +nuuancc, a any, all ss rcas.,++auiy ~.i.~~.:cd a=a t.~n
tune to time by Leader oa the basis of assessments and bills and reasonabk estimates thereof.
The Ftutds shall bt: held in an institution the depasita or accounts of which arc insured or guaranteed by a Federal or
staoe agency (irtchtding Larder if Lcrtdcr is such an irtstitutionl. Lender shall apply the Funds to pay uid taxes. assessments.
iastpaaoe premiums and grated rents. Lender may rid charge for so holding and applying the Funds. analyzing said account,
a vaifyinsaad oornpiling said assessments and bilk, unkss Larder pays Borrower interest on the Funds and applicable law
pernuts Lender to mate suds a charge. Borrower and Lender may agree in writing at the time of execution of this
Mortgagt that uuentxt on the Funds dull be paid to Borrower, and unless such agreement is made or applicable law
requires tat~ch interest to be paid, Lender shall riot be required to pay Borrower any interest or earnings on the Funds. Lende?
sbap pee to Borroaer, wrthout charge, an annual acoatntiog of the Funds showing credits and debits to the Funds and the
purpose [or which eadt debit to the Funds was made. The Funds arc ptedgod u additional security for the sums secured
by tha Mortgage.
If the aarotatt o[ the Funds beW by Leader, together with the future monthly installments of Funds payable prior to
the due duos of fatten, atwessroeots, imuranoe premiums and ground rents, shall ex«ed the amount required to pay said taxes.
assessateats, iawraooe prcmiuars aid ground rents as they fall due, such excess shall be, at Borrowers option, either
promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
held by Leader shall not be su~cieat to pay taxes, assessments. ittsttrance premiums and ground rents as they fall due,
Borrower shall Pay to Lander gay amount necessary to make up the deficiency within 30 days from the date notice is mailed
by Ltoder to Borrower regttatiag payment thereof.
Upon paymtmt is full of all stuns 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 Properly +s otherwise acquired by Lender, Lender
shall apply. no Inter than imarodiately prior to the sale of the Properly or its acquisition by Lender. any Funds held by
Leader u the time of spplicatioa u a credit against the sums scettred by this Mortgage.
3. Aplikatiaa d)!'aymeals. Unless applicable law provides otherwise, a!! payments received by Lender under the
Note gad Paragraphs 1 gad 2 hereof shall be appliM by Lender first in payment of amounts payable to Lender by Borrower
turder paragraph 2 hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
print~pd on any Future Advances.
4. CWrges; Leas. Borrower shall pay all taxes, assessments and other charges. tines and impositions attributable to
the Property which 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
payer thereof. Borrower shalt prwnptly 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 paytscr;:s.
Borrawa shall promptly discharge any lien which hu priority over this Mortgage; provided, that Borrower shall not be
rogwred to discharge any such Lien so brag as Burrower shall agree in writing to the payment of the obligatiurt secured by
such lien in a manner xceptabk to Ltndcr, or 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 or any part thereof.
S. Nanrd la~ssraace.. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
against loss by fire, hazuds included within the term "e~tencteJ coverage", and such other hazards as Lender may require
gad m such amounts and for such periods as Lender may require; provided, that Lender shall not require that the amount of
such coverage eiceed that amount of coverage required to pay the sums secured by this Mortgage.
The ittwrance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender. provided,
that such approval shalt not be unreasonably withheld- Aft premiums on insurance policies shall be paid in the manner
providod under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
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 xceptabk to lender. Lender shall have the right to hold the policies and renewals thereof,
gad Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of loss,
Borrower shalt g+ve prompt notice to the +nsurance career and Lender. Lender may make proof of loss if not made promptly
by Borrower. -
Uakss Lender and Borrower otherwse agree in writing. insurance proceeds shall be applied to restoration or repair of
the Propcny damaged. prov+ded such restoration or repair is economically feasible and the security of this Mortgage is
not thereby impaired. It 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 8orrowr.. If the Property- is abandoned by Borrower, or it Borrower fails to respond to Leader within 30 days from the
date rwtice is mai}eel b}- Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefits, Linder
is autborizod to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Properls•
or to the wins secured by this Morlgage.
Unless Lender and Borrower othen+ise agree in writing, an} such application of proceeds to principal shall not extend
or postpone the due date of the monthh~nssallments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments. It under paragraph 18 hereof the Profeny is acgwred by Lender, all right, title and interest of Borrower
in and to any lnsurance policies and in and to the proceeds thereof resulting from damage to the Properly 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
acgtisition.
f. Prest<natia aid ~taiotettattce of Property; LeaseM+lds; Cotwbmi,otiurtts; Planned Gait Derelopinents. Borrower
shall keep the Properly in good repair and shall not commit yvaste or permit impairment or deterioration of the Property
gad shall comply with the provisions of any lease ,f th» Mortgage ;s 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 devetvpment, the by-laws and regulations of the
condominium or planned unit development. anD constituent Documents. If a condominium or planned unit Development
nDer is executed by Borruwrr and recorded ingather w,th this Mongage. the covenants and agreements of such rider
shall be ,ncorporated +nto and shall amend anJ suppicment the covenants and agreements of this Mortgage as if the rider
were a pan hereof.
7. Protection of L.etrde,rs Security. If Kc•rrower fads t;~ perform the covenants and agreements contained in this
Mortgage, or if any ac[ion ur prcx;eeding ,s c;,mmenced wh+~h materially affects Lender's interest in the Property,
inrlud,ng but n..t hm,ted to. eminent doma,n. ,ns.•l.enr.- code enforcement, or arrangements or proceedings invoh•ing a
bankrupt or decedent. then Lerxler at 1 enJer's e~pt,an, upon notice to Borrower. may make such appearances, disburse such
sums and take such acu.,n as is necessary n? protect Lenders interest. ,ncluJ+ng. but not lim,ted to. disbursement of
reasonahle attorney's lets and entry up~,n the Pmpcny to make rcpa,rs. If Lender reyuircJ martgagc insurance as a
curidmun ~~f making ttie loan secured b} the M~~rteagc. B,.rmwrr shall pay the premiums require) to maintain such
,assurance in etie~t umd such time as +he reuuucment fc~r ,uch ,assurance terminaics ,n .accordance with Borrower's and