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UNIFORM CAVf3NANTS. Borrower and Lender covenant and agree u follows:
1.. ihyweat of Mne1N1 tmti Ittletrat. Borrower shall promptly pay when due the principal of and interest on the
ittdebtedtuas evidenced by the Note. Prepayment and late charges as provided in the Note, and rite principal o[ and interest
on goy Future Advances seeuted by this Mortgage.
2. ii:tittais tar Tana rtari lnwrree. Subject to applicabk law or to a written waiver by Lender. Borrower shall pay
to Lender on the day monthly installments of principal and interest arc payahk under the NWe. until the Note is paid in full,
a aunt (herein "Furtds'~ equal to one-twelfth of the yearly taxc. and assessments ~rhicll may attain priority over this
Mortgage. and ground rafts on the Property. if any. plus one-twelfth of yearly premium installments for hazard insurance,
plus otx-twelfth of yearly premium installments for mortgage insurance, if any, all u reasonably estimated initially and from
6me to time by Lender on the buffs of assessments and hills and reasonabk estimates thereof.
The Funds shall be held in an institution the deposits orrccounts of which arc insured or guaranteed by a .Federal of
state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes. assessments.
insuratce premiums and ground rents. lender may not charge for so holding and applying the Funds. analyzing said account,
or verifying-and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
permits Leader to make such a charge. Borrower and Lender may agree in writing at rite time of execution of this
Mortgage that interest on the Funds shall be paid to Borrower. and unless such agreement is made or applicable law
requires 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 annual accounting of the Funds showing credits and debits to the Funds and the
purpose for which each debit to the Funds was made. The Funds are plodged u additional security for the sums secured
by this Mortgage.
If 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 premiurtts and ground rents, shall exceed the amount required to pay said taxes,
a:satments, insurance •premiums and ground rents u they fall due, such excess shall be, at Borrower's option, either
pranptly repaid to Borrower or credited to Borrower on monthly installments of Funds. I[ the amount of the Funds
held by Leader shall not be sufficient to pay taxes, assessments, 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 Lender to Borrower rcquersting payment thereof.
Upon payment in full of al! 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 rs otherwise acquired by Lender, Lender
shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender. any Funds held by
Lender at the time of application as a credit against the sums secured by this Mortgage.
3. A~plicatiorr of Payrtaetttts. Unless applicable law provides otherwise, all payments received by Lender under the
Note and paragraphs I and 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 Advancers.
4. Charges; Liens. Borrower shall pay all taxes, assessments and other charges. fines and impositions attributahle 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
payee thereof. 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 long as Borrower shall 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 in,
legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
S. Haurd Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
against loss by fire, hazards included within the term "extended coverage", and such other hazards as Lender may require
wd 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 Eby this Mortgage.
The 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 shall be paid in the manner
provided 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 he 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 loss,
Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly
by Borrower.
Unless tender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
~ the Property damaged, provided such restoratton 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 excess, if any, paid
f to Borrower. IE the Propert}• is abandoned by Borrower, or if Borrower fails to respond to Lender within 30 days from the
date notice is mailed by Lender to Borrower that the insurance carrier ofTers to settle a claim for insurance benefits, Lender
I 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 Mortgage.
Unless Lender and Borrower otherwise agree in writing, an}• such application of proxeeds to principal shat! not extend
a or postpone the due date of the monthl}• installments referred to in paragraphs I and 2 hereof or change the amount of
such installments. if under paragraph 18 hereof the Property is acquired by Lender, all tight, title and interest of Borrower
j in and 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 accured by this Mortgage immediately prior to such sale or
r acquisition.
6. Presen•ation gad :Maintenance of Property; Leaseholds; ('ondominiums; Planned Unit Developments. Borrower
3 shall keep the Property in good repair and shall not comrpit y~•aste or permit impairment or deterioration of the Property
~ and shall comply with the provisions of any lease ~f this Mortgage n 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 urns development, the by-laws and regulations of the
condominium or planned unit development. and constituem documents. If a condominium or planned unit development
rider is executed by Borrower and rernrded together whh this Mortgage, the covenants and agreements of such rider
~ shall be incorporated into and shall amend and supplement the covenants and "agreements of this Mortgage as if the ri.ter
were a part hereof.
7. Protection of Lender's Security. If Borrower fails t.. perform the covenants and agreements contained in this
~ Mortgage, or if any action or proceeding is commence) which materially a(iects Lender's interest in the Property.
~ including. but not limited to, eminent domain. inu~lvency. cixle enforcement. or arrangements or pnxeedings involving a
bankrupt or decedent. then Lender at Lender's option, upon notice to Borrower. mess make such appearances, dishurse such
sums and take such action as ~s necessary to protect Lender's interest, mcluJmg. but nut Iim~teJ to. disbursement of
f reasonahle attorney's fees and entry upon the Property Io make repairs. I( Lender reynire~! mortgage insurance as a
condition of making the loan secure) by this Mortgage. Borrower shall pay the premiums required to maintain such
~ insurance in rllect until such time as the reyuaement for such msurrnce terminates m accordance with Borrower's and
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