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Utttroaw oovat+~s. Bortowar sad Lander oovesatM and agroe a Mliows:
li. Fbaaat a!< Frlsey~si tttM Mssatf. Borrower shill promptly pay wbea dw tba principal of sad iaMnst oa the
irtdebledtteet tnridesoed br tM NoN. pt~epayrsat and late clsarges as provided its the NoN, and the principal of std iaM~est
as a0? Fttfetra Advettroee s»ewrtd by this Mortsssa
t lltrstlt Isr 7ytrea tttM Lewtre+. Sgbjetx to sppticabb law c+r to a writNa wsiwr by Lender. Borrowtr s11a11 Pay
a G~der oa the day atatttldg iapdNt~b of principal and interest are. payable under the Nava uap'1 tM No1e a paid is fuN,
. tars (Made "Fwrde'~ egwl to onto-tswNM of the yestly taxes and ms~atasts which rosy auaia priority owr this
. 1Nartge~a, and grost~d toetds a tM Property, it asy. plus alas-twdttM of yeafll' prasisras i~menb for Matcsrd irsurarra.
plot otter-twalttb d yrarllt_ pt"gsiuat aatsUmwts for mottpp ittsursnoe, it nay, cep as teasooably ~iatatod initially sa_d tt~om
lima to fleas bbyy I.tader os the bttt~is of sssas~rttenb and hills and teasonsbk atilnata thereof.
'I]es Irltrds tdSSU bs held is as institution the deposits or sccouMs of which are iroured a gtruantad by a Federal of
tttace ttgerrcy (iacltsdirtg Fender if Lender is such an itrstitutionl. leader shall apply the >:ltads 1o pay said taxes. a:spttrreab.
iasursaoe prsmivats and groad nMs. lender may not charge for so holding end applying the FtadR. analysing said soooutM.
a ~ eompiliag said atsessnlenb and bilk. unless Larder pays Borrower interest oa the Funds and applicabN Isw
petrrnip I~eoder to make such a charge. Borrower std [render may sgres ere writing u the time of execution of this
li[ortgye that itsta+eet oa the Fords shah be paid to Botrowar, and utslas sttde apeaaast s made or applipbk law
regttitsts-sttdr interest to b paid. Lenderr shall not be required to pay Borrower any intereK a earnings on the Ftiurdt. Lender
shall give 1o Borrower, witlsotet charge, an annual soeotmting of the Funds :bowing credit and debit to the Funds and the
ptrrpoee for which sob debit to the Funds case Wade. ~ The Funds ate pledged as sdditioaal security for the scans sttctrred
' by this MQctpye.
i< the amosmt at the I?uods hold by i.ender. together with the futures monthly in:tallnienb of Fund payable prior to
the due data of isxa, asaessments, irweranca premiums and ground rent, :hal! exceed the amount tequircd to pay said taxes.
aaesstseabr isauraaoe premitrrw and ground reab as they tall due. such excess shall be. st Borrowers option. either
proasptly repaid to Bort~owec a credited to Bon+owx oa monthtp installment of Funds. If the amamt of the Fuadt
held bq Leader-shat( not be etd6cieat to pay taxes. asesnrratt, insurance premiwns and ground rent st they fall due,
earower shall pay to L~eodec nay amount neoeaary to make up the deRcieney within 30 days from the date notice is mailed
by Deader to Borrower regsregiog payment thereof.
Upon payment is full of aiJ ores exttrod by this Mortgage. Lender shall promptly refund to Borrower any Funds
heW by Leader. N under paagraph 18 hereof the Property is sold or the Property ¦ odrawiee acquired by Lender. Leader
shat! apply. ra laser than immerBately prior to the :ale of the Property or its acquisition by Lender. dry Funds held by
Iwodet at the time of appliatloa at a credit apirot the sums secured by this M&t~ase.,
~ Aplieatisa st Rgtwerlt. Unless applicable law provides otherwise. dh`paymznb received by Lender under the
Note and paragraphs 1 and Z hereof shall be applied by Lender first in payment of amountt payable to Lender by Borrower
under paragraph Z hereof. rhea to interest payable on the Note. then to the principal of the Note. and then to interest aril
principal on any Future Advances.
4. CMarge~ I[jer. Borrower shall pay all taxes, assessments and other charges. tines and impositions attributable to
the Property which may attain a prarity over this Mortgage. and leasehold payments or ground rents, if any. in the manner
provided under paragnplr Z hereof or, if not paid in such manner. by Bornower making payment, when due, directly to the
payee thereof. Borrower :ball promptly furnish to Lender ell notices of amouab due under this paragraph. and in the avant
Borrower :ball make payment directly, Borrower shall promptly furnish to Lender receipt evidencing such payment.
Barr~oMrer shall promptly discharge any lien which has priority over this Mortgage; provided, thu Borrower shall not be
required to discharge any such lien so bog as Borrower shall agree in writing to the payment of the obligstion :ocerred by
such lien is :manner acceptable to Lender. or shall in good faith contest such lien by, or defend enfors~rtrent of such lien in,
legal proceedings which operate to prevent the enforcement of the lion or forfeiture of the Property or any part thereof.
S. Idmri I~wr>twea Borrower atoll keep the improvements now existing or hereafter erected on the Property inwred
against bas by Ere, hazards included within the term "extended coverage". 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 rnverage required to pay the sums secured ~y this Mortgage.
The iawranoe carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided.
that such approval :ball 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. .
AQ insurance policies and rrnewals thereof shall be in form acceptable to Lender and shall include a standard mortgage
clause in favor of and in form accxptabk to Lender. Lender shall have the right to hoW the policies and renewals thereof,
and Borrower shall promptly furnish to Lender all renewal notices and all receipt of paid premiums. to the event of loos,
i Borrower shall give prompt notice to the resonance carrier and Lender. Lender may make proof of bss if not made promptly
by Borrower.
Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
the Property damaged, provided such restoration 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
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 Lender 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 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 referred to in paragraphs I and 2 hereof or change the amount of
web installments. if under paragraph 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower
in and to any Assurance policies and in and to the proceeds thereof recasting 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, lrrserratios sad Mabteaaace of Property; LeaseboWs; Coadomininnt~ U7awoed Unit IkveloPosewts. Borrower
shall keep tbe Property in good repair and shall not comrpit yvaste or permit impairment or deterioration of the Property
and shall comply with the provision 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 development. 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 agreements of this Mortgage as if the rider
were a part hereof.
l 7. PrettcKon of Lenders Security. if Borrower fails to perform the covenants and agreement 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 repair. 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
r ~ 8~5 PA~2806