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Borrower and Leader oownant sect a~raa as folbws:
1. PwyttasM of Pfrioei~l red Iatenwt. Baertswer shell promptly pry whoa dw the principal o[ and iaarest oa tM iadtbtsdneas
evidenced by the Note, perpyrmrataad Wed~argoaasparovidedia the Nota.andtbaprindpalotaad iaton+ton agpFbtaraAdvanoeaa~:und
~ Ftiads froe'lyucer sect Iawtranas. l3abjed to spplicabk law or to a written waiver by I.endear. Borrower shall pay to iende~r on the day
`moothty LMtalbnaa4 otprincipal and iatersat ate payabb under the Note. until the Nate i. paid in' full, a saw (bruin "Finds") equal to oot•
twelAh of tbt yearb taros spd aasessaseaa which may attain priority over this Mortgage, and pound rwsa on the Property, if any, pha aaa~
twelfth otyeseljr premium irtsialimsntr tae irasaral insarana, Nna oaetwelM ofytarly praninm iastallmeaa for mortgage in.nranot, if arty.
all as reeaoaabb+tstimt;ttd irtitialb? and Lrooa time to time by Lendec on tint heals of aMessma+a and bill and n.aoaabk estimates thenoL
'!!ie Fantle shall be held in as inatiatioa the deposits or aooonna of which an insured or suaranteed by a Federal or 3tatt ageagr
(inda~dirsg Lender if Lender is such an iastitation). Leader shall apply the Fmda to pay acid taxes, asseeaaaeaa. insurances pramimna and
ground rents. Leader rosy cot duirp? for ao hoWiag and applying tM Fymds, rutalYsiag acid aoconat, or verifying and compiling said
aasesrarents and br'lls, aaleas L~ pays Borrower intsreston the Fbindi and applicable law permit Leader to make such a d~arge. Borrower
sect Lertdec mqr egret in writing at the time of e:acatioa of this Morlgsge Wet intaarat oa .the F1mda shall be paid tD Bareower, and unless
such rs~t~ernnat is msds or appliasbls law regnirw ands interest to be paid, Lender shall not be required to pay Borrower any interrest err
e:rssioga on the Fiends. Lander shall live to Borrower, without charge. sa annual aooomting of the Fonda showing credits and debits to the
Funds and the ptsrpoas for whidi tech debit ro the Fiords was made.'ibe F'nrds are pledged as additional.ecurity forth! sums aeaasrtd by this
Mortgage. 1
Uits amomt of the Ftisrsda held by Lander. together with the future monthly insallmersa of Funds payable prior to the due dates of tease.
aseessaoteaa. inanranoe preasinms and pound recta, shall a:aced the amount r+egv~irad to pay acid terra, aasesanena, iasnranoa premiums
and gromtl rents s• they fill dos, such areas shall be. at Borrowor's option. either promptly maaid eo Borrower or credited to Borrower on
monthly instaumena of Flrnds. )s the amomt of the Fonds held by Lender shall act be anfficicest to pay fazes, aaseam.na, insnrancee
premiums and gromd recta as they fall due. Borrower shall pay to Lender any amount necessary to make rap the deficiascy within 30 days
hum the date notice i• mailed by Louder to Borrows requesting p~ymeat Wereof.
Upon payment in fell of all sums secured by this Mortgage. Leader shall pranptly refund to Borrower say funds held by Leander. Itnnder
paragraph 18 hereof the Property is sold or the Property is otherwise eioquired by Lender. Lender shall apply, no later than immediately print
to the tale of the Prroperty or is aognisitioa by Leader. any Fonda held ~y Lender at the time of application as a credit against the soma secured
by thin Marigage.
3. Applkation of Pa~nta. Unless app~icabk law provides otherwise, all paymena received by Leader outlet the Noa and
paragraphs 1 sad Z hereof shall be applied by Leader lust in pe~yment of amoma payable to Lender by Borrower Hader paragraph Z hereof.
then to fastest psyabk as the Note. then. to the principal of the Note. and then to interest std principal on any Futon Advances.
4. Charges; Liens. Borrower shall pay all fazes, assessmena and other charges, fines and impositions attributable to the Ptopafy which
may attain • priority over this Mortgage, and leasehold paymetsa.or ground rents, if any, in the manner provided order paragraph Z hereof or,
if not paid in such manner, by Borrower making payment, when due: directly to the payee thereof. Borrower shall promptly furnish to Eructs ~
all notion of amoaaa due Hader this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to ~
Lender reoeipa evidencing such paymena. Borrower shall pranptly 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 lies in a manna aooepeable to Lender, or shall in good faith contest such lien by, or defend enforcement of such lien in, legal proceedings
which operas to prevent the enforcement of the lien or forfeiture of the Property or any part thereof_
5. Hasard Insurance. Borrower shall keep the improvemeaa now existing or hereafter erected on the Property insured againstlossby
fire, hazards included within We term "!:tended ooverage,° and such other hazards as Lender may require and 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 oaverage
required to pay the sums secured by this Mortgage. _
i
'[Le insurance carrier providing the insurance shall be chosers by Borrowersubjed 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 arch manner, by Borrower making payment, when due, directly to the insurance carrier.
All inuurance policies and renewals thereof shall be in form acceptable b Lender and shall include a standard mortgage clause in favor of
and in form aooeptabk to Lender. Lender shall have the right to hold the poUcies and renewals thereof, and Borrower shall promptly furnish to
lender all renewal notices and all receipa of paid premiums. In the event of lass. Borrower shall give prompt notice to the insurance carrier
and Lender. Lender may make proof of loss if not made promptly by Borrower.
Unless Lender and Borrower otherwise agree in writing, insurance pcaeeeds shall be applied to restoration or repair of the Property
damaged, provided ouch restoration or repair is economically feasible and the security of this Mortgage is not thereby impaired. If such
restoration or repair is sot econa~mically feasible or if the security of thins Mortgage would be impaired, the insurance proceeds shall be applied
to the soma secured by this Mortgage, with the excess, if any. paid to Borrower. If the Property is abandoned by Borrower, or it Borrower fails to
reapard to Larder within 30 days flan the date notice is mailed by Lender to Borrower that the inaarance carrier offers to settle a daim for
insurance beneBa, Lemder is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the
Property or the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not eztend or postpone the doe
date of the monthly instaUmeaa referred to in paragraphs 1 and 2 hereof or change the amount of such installmena. U ands paragraph 18
hereof the Property is acquired by Lender, all right, tick and intxreat of Borrower in and to any insurance policies and in and to the proceeds
thereof resulting from damage to Property prior to the sale or soquisition shall pass to Lender to the ezteat of the sums secured by this
Mortgage immediatdy prior to snd? sale or aoq~riaition.
6. Preservation and Hainteaance otl?roperty; Leaaeholda; t;ondominums; Planned Unit Developments. Borrower shall keep
the Property is good repair and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the s
provisions of any kare 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 oovenana creatingor governing the condominium or planned
unit development, the by-laws and regnlatana of the condominium or planned unit development, and oonstitnent documents. If a
oondominiam or planned unit development rider is ezecnted by Borrower and recorded together with this Mortgage. the aovenaaa and
agreemena of such rider shall be inrnrporated into and shat l amend and supplement the covenana and agreements of this Mortgage as if the
rider were a part hereof.
T. Protedioa of Lender's 8ecurlty. U Borrower fail to perform the ooveaana and agreements oontsined is this Mortgage, ce if any
action or proceeding is cemmersoed which materially affects Lenders interest is the Property. inducting. but not limited to, eminent domain,
inwlveacy, code enforcement, or srnngemeaa or proceedings involving a bankrupt or decedent, than Leader at I.ende:'a optionnpon
notice to Borrower may make ouch appearances. disbnrae such snare and take ands action as is necessary to proact L,eadela interest.
indrding, but sot limited to, dssbnrsement of reasonable attorney's fees and entry neon the Properly to make rnpsin. U Leads required
mortgage Insurance a. a ovrditioa of making the loan secured by this Mortgage. Borrower shall pay the premiums required to maintain
such inanranoe in effect until such time as the requinmeat for arch insurance terminates in aooordanoe with Borrower's and Leaders
written agreemnat err epplicabk Law. Borrower shall pay the amount of all mortgage insurance premiums in the manner provided ands:
paragraph Z hereof:
Any amonna disbursed by Larder ptrsuarst to this paragraph 7. with iatereaL thereon. shall become additional indebtedness of
Borrows secured by Chia Mortgage. Unless Borrower and Lender ague to other terms of payment, such amoma shall be payable upon
notice from Lender to Borrower requesting payment thereof; and shall bear interest from the date of diabareement at the rate payable from
time to time on outataading principal order the Note unless payment of interest at such rate world be contrary to applicable law, in which
event such amouna shall bear interest at We highest rate pennisable under applicable law. Nothing ooatained in this paragraph T, shall
require Leader to incur any expense or take any action hereunder.
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