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UNIloR1t COVBt'tAttTe. Borrower sad Lender covenant and agree as fOUowa:
1. >lwyssaN et Pt~iae+si tri IaNsest. Borrower shtll protnQtly pal when due the prirtcipsl o[ and interest oa the
indebbdaese evidenced by the Nob, ptrpayaratt sad lets charges as provided in the Note, and the principal of tad lateral
oa any Putute Advances second b7 tl~ IrlestpBs. •
1 Tftisiie ilstr 1ligow st.d Lstreanew - 9tibjea b appNeable law oc b a written waiver by Lends. DotroKee shall pay
b Lesnder on the day monthly Brett:llmenb of principa! sad:Herat are payable under life Kota, unp'1 the Note is paid is fuq.
a Qum. (ba+etn "Funds' equd to oae~wath of the yrsdy fixes and a:snmtwb which. taay attain priorigr over this
Mortgage, sad Srottttd reab on the Property. It any. plw ottatwelftb of yeeriy ptemiutn itacslbatenp for hazard iasursnoe.
plus one-twelfth o[ yrarly praaiuat in>xalbaeab for insurtutQe, ii say. all a:'itiie~ongl~? estimated initially sad. from
time to time by ):alder oa dre basis of asseesmenb and bilb-and reasonable astimatet tberoof:
'ILe Funds shall bs bdd is sn irtbittttioa tits deposits or acoouab of which are iastued or gusrartteed by a Federal or
state agency (iachtdittg Lpidsr ii Lender•is such as itntitntioa). Leader shalt apply-the Funds b pay said ttutes, assesstrteob.
iawranos premiwna and gtouod roab.- Leader may not charge for so holding sad applying the Funds, analyzing said socouat,
or vesritylag sad compiling said aaasoneats sad bilk. ualas Lender pan Borrower interest oa the Ponds and applicable law
permib Leader to make sudt s chards. Borrower and Lander may agroes is writing at the time of esxet:ution of this
Mortgage thtt interest on the Ponds sbap be pad to Borrowet~, sad unless such agreement is made or applicxbls law
requir:s such interest to be paid, Leader shall not be required to pay Borrower say interest or earnings on the Funds. Lender
shall pve to Borrower, without charge, as annual accounting of the Funds showing Cndib and debib to the Funds and the
purpose for which eadt debit to the Funds was made. The Functa are pledged as additional security for the sum: secured
by this Mortgage.
If the amount of the Funds held by Lender, togaltesr with the future monthly installmeab of Funds payable prat to
the dtte dates of taxes, assessments, innrrance premiums and ground rents, shall exceed the amount required to pay :aid taxes,
saesaneats, insurance premiums and ground renb as they fall .due, such excess shall be, at Borrower's option. either
promptly repaid to Borrower a credited to Borrowe on -monthly installmenb of Funds. If the amount of the Funds
hold by Leader shall not be sutBcieat to pay taxes, aaeasonertb, insutana premiums and ground rertb a they fall due.
Botrower:hall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice i; mailed
by Lender to Borrower requiting Payment thereof.
Upon payment in full of all sums secured by this Mortgsge, Lender :ball promptly refund to Borrower any Funds
held by Lender. If under paragraph 18 hereof the Property is sold or the Property is otherwisee acquired by Lender, Lender
shall apply, no later than immediately prior to the oak of the Property or its acquisition by Lender, any Funds held by
Lender at the time of application as a credit sgainst the sums secured by this Mortgage.
3. A~IicMba at Psi. Unless applicable law provides otherwise, all payments received by Lender under the
Note and paragraphs 1 and 2 hereof shall be applied by Leader first in payment of amouab 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 oa any Future Advances.
4. t~ges; Lkaa. Borrower shall pay all taxes, assasn?enb and other charges. fines and impositions attributable to
the Property which mag attain a priority ova this Mortgage; and leasehold paymeab or ground renb. B 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 Leader all notices of amounb due under this paragraph, and in thes event
Borrower shall make payment directly, Borrower sltttll promptly furnish to Lender receipb evidencing :uch payments.
Borrower shall promptly discltatge any lien which has .priority outer: this Mortgage: Provided, that Borrower shall not be
required 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 moaner acceptable to Lender. or shall in good faith contest such lien by, or defend enforcement of-such lies in,
legal proceedings which operates to prevent the enforcement of the lien or forfeiture of the Property or say part thereof.
S. Hazard Iassirasee. Borrower shall keep the improvements now existing or hereafter erected oa the Property inwred
agaimt loss by fin. hazards included within the term "extended coverage", and such otlretr hazards as Lender may require
and in such amounb 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 by this Mortgage.
The irauraooe carrier. providing the insurance shall be chosen by Borrower wbject 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 tutder paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the
insurance carrier.
AB inwranoe policies and reaewak thereof shall be in form aceeptabk to Lender and shall include a standard mortgage
~ clause in favor of sad in form aeoeptable to Lender. Lender shall have the right to hold the policies and renewals thereof,
and Borrower shall Promptly furnish to Lender all renewal notice and all rooeipts of paid premiums. In the event of loss,
Borrower shall give prompt noticx to the insurance carrier and Ixnder. Lender may make proof of less if not made promptly
by Borrower.
Unles: Lender and Borrower otherwise agree in writing. inswance proceeds shall be applied to restoration or repair of
the Property damaged. provided such restoration or repair is economicagy 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 insunnoe proceeds shall be applied to the wrrq secured by this Mortgage. with the e~xeess, if any, Paid
to Borrower: Tf the Property is abandoned by Borrower, or if Borrower faits to respond to Lender within 30 days from the
date notice is mailed by Leader to Borrower that the inwranoe carrier often to settle a claim for ieurarroe beaefib, Fender
is authorized to collect and apply the insurance prooeods at Lender's option either to restoration or repair of the Properly
or to the sums 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 referrod to in paragraphs 1 and 2 hereof or change the amount of
such installmenb. If under paragraph l8 hereof the Property is acquired by bender, all right, title and interest of Borrower
is sad to any inswance policies and is ltd to the procxeds thereof resulting from damage to the Property prior to the axle
or aequisi6on shall pass to Lender to the extent of the sums secured by this Mortgage immediately prior to such sale or
acquaition. : .
f, lhperratioa aai Mabtesurca of pr+o
fertY; I~eaaerddr Coadombda~ llaeeea Udt Devdopseeeb. Borrower
shall keep the property in good repair and shall not commit waste or perntit impairment or deteraration of the Property
and shall comply with the provisions of any kale if this Mortgage is on a leasehold. If this Mortgage is on a unit in a
condominium of a planned unit development, Borrower shall perform all of Borrowers obligations under the declaration -
or covenants creating or goveroing the condominium or planned unit development, the by-laws and regulatioru of the
condominitun or planned unit development, and constituent documents. If a condominium or planned unit development
rider is executed by Borrower end recorded together with this .Mortgage, the covenanb and agreements of such rider
shall be incorporated into and shall amend and supplement the covenants sad agreements of this Mortgage as if the rider
were a part hereof.
7. Prstectba of Lender's Sawriry. If Borrower fails to perform the covenants and agreements contained in this
Mortgage, or if any action or proceeding is commenced which materially aHecb Lender's interest in the Property.
including, but not limited to. eminent domain, insolvency, code enforcement, or arrangements or proceeding: involving a
bankrupt or decedent, then Lender at Lenders option, upon notice to Borrower, may make such appearance, disbune such
sums sad take such action as a necessary to protect Lender's interest, including, but not limited to, disbunement of
reasonable attorney's tea and entry upon the Property to make repain. 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 eSect anti! such tune as the requirement for such insurance terminates in secor+dana with Borrowers and
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