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UNIFORM Coveh.,rtrs. Borrower and (.ender covenant and agree as follows:
1. Payment of Principal dad Interest, Harfawer shall promptly pay wheel due the principal of and interest un the
indebtedness evidenced by the Note;, prepaymen! and late charges as provided in the Nate, and the principal of and interest
on any Future Advances s~,cured by this Mortgage.
2. Roads for Taxes and Insurance. Subject to applicable law ar to a written waiver by lender, Borrower shall pay
to Lender on the day monthly installments of principal and inters are payable under the Note. until the Note is paid in full,
a sum (herein "Funds") equal to one-twelfth of the yearly rates and assessments which may attain priority over this
Mortgage. anti ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
plus one-twelfth of yearly premium installments fur mortgage insurance, if any, all as reasonably estimated initially and from
time to time by Lender an the basis of as~essmcnts and bills •and reasonable estimates thereof.
TZte Funds shall be held in an institution the dept+sits or accounts of which are insure) or guaranteed by a Federal or
state agency f including Lender if lender is such an institution I. 1-:rider shall apply the Funds to pay said taxes, assessments.
i[surance premiums and ground rents. Lender mu)' not charge tar yo holding and applying the Funds, analyzing said account,
ar verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law
permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
Mortgage that interest on the Funds shall he paid to Borrower, and unless such agreement is made ar applicable law
rcyuires such interest to be paid, (.ender Shall not he reyuired to pay Burrower any interest ar earnings an the Funds. I.cnder
shall give to Borrower, without charge, an annual accounting of the hunts showing credits and debits to the Funds and the
purpose for which each debit to the l=ands was made. The hands arc pledged as additional security for the sums secured
by this Mortgage.
If the amount of the Funds held by 1_ender, together with the future monthly installments of Funds payable prior to
the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount reyuired to pa}• said taxes,
assessments, insurance premiums and ground rents as they fall due, such excess shall he, at Borrower's option, either
promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
held by (.ender shall not be sufficient to pay taxes, assessments, insurance prer.~iums and ground rents as they fall due,
Borrower shall pay to Lender any amount necessary to make up the deticicncy within 30 days from the date notice is mailed
by 1_ender to Borrower requesting payment thereat.
Ulx+n payment in full of all sums secured by this Mortgage, Lender shall promptly refund to Harrower any Funds
held by Lender. If under paragraph 1S hereof the Property is ,old or the Property is otherwise acquired by (.ender, Lender
shall apply, nu later than immediately prior tb the .sale of the Prupcrt)' or its acyuisition b}• Lcndcr, any Funds held by
!.ender at the lime of application as a credit against the: sums secured by this '.llartgage.
3. Application of Payments. Unless applicable law provides otherwis,:, all payments received b}. Lender under the
`ate and paragraph, 1 and 2 hereof shall be applied by Lcndcr fist in pa} mcm of amounts pa}'able to Lcndcr by Borrower
under p:+ragraph 2 hereof, then to interest payable en the ?~btc, then to the principal of the Note, and then to interest and
princrpal un any Future Advances.
4. Charges; Liens, Burrower shall pay all taxes, asscamcn4+ and other shorties. fines an.l rmpusitiuns attributable to
the Propcn~ which may attain a priority aver this Mortgage, and leasehold payments or ground rents. if an}'. in the manner
pruvrdeJ under paragraph 2 hereof ar. if nut paid in such m:mner,, by Burrower making payment, when due. dintctly to the
popes thereof. Borrower shalt promptly furnish to 1_ender all notices of amounts due under this paragraph, and in the event
Born+wcr shall make pa}mcnt dirc.ah, Burrower shall promptly furnish to Lcndcr re:ccipts cyidcncrng such p:,ymcnts.
Horrower shall promptly discharg.; an}' lien which has priority over this Aortgage; provided. that &~rruwer shall not be
reyuired to elischargc any such lien su long as Borrower steal( agree in writin¢ to the payutent .+f the ablrgatiun secured by
wch l:an in a manner acceptable to Lender, or shat! in z~xx1 faith contest such lien hy, or Defend enforccmcnt of such lien in,
legal pn+cecdings which operate w present the enf++rcement of the Iron ar forfeiture of the Property ar any part thereof.
5. Hazard Insurane•e. HOfiOw~r shall keep the rmp:occmcnt~ now existing or hereafter erected on the Property ensured
against loss by fire. hazards int•ludcd within stet term "extended coverage', and such other hazards as Lcndcr may require
and in say h am.+nnts and fur such periods ac Lender m:ry reyuirc: pmyided. that !.ender shat! not require That theamuunt of
such cuyeragr exceed that anr,runt ut cmcrakc reyuired to pa}• rtes sums secured by thrs Mortgage.
The ,nsurancc :artier providing rtes insurance shall to chosen by Harrower subject tci approval by Lcndcr, provided,
that such appn»al .Hall not be unreasunahl)• withheld. All premi:rmc an insurance policies chat) be paid in the manner
pn+,•ided under p:uagr.,ph 2 h~rrof ur. if not paid in such manner, by Harrower making payment, when due. directly to the
rnsurance earner.
x111 insur,,nre pulr.:ie..u:+i ronc.,als thcr«+t sh;ai in form ac;e;+tabie.to Lender and shall include a standard nmrtgage
:(dais in favor .+t and ut dorm acrcptahlc to l_endcr. Lender ,hall have the right l0 hold the policies ant rcncw:d, thereat,
.end Barr.+wer ,halt pmn:ptty fut;sh to l_endcr aN renewal notices and all receipts of paid prcmu,ms. In the event of loss,
Harrower shall give pn+rnpt notice to the inwr.u,ce earner and lender. Lender ma} make grout of loss if nut made pmmpth
by H.~rrowcr.
Unless I_cnder and Barr.+wer athcrw,cc agree in writing, imurance proceeds shall be applied to restoration or repair of
rtes Property damaged. ; mv:dcd such re,turauon ur rcpa?r is ecauomical!}• feasible and the security uf.this Mortgage is
nut thereby impaired. It such re,tora~~~:, or rep:ur is not econumicall~ feasible ur if the security of this Mortgage would
be impaired. the insurance proceeds sh;dl he applied to the sums secured by this Mortgage, with the excess, if any. paid
to Borrower. If the Pn+pcrt) i~ ahandoncd by Hor:ower. or if Harrower faits M resl?and to I.cnder within 3U days from the
date notice is rnaiied by Lcndcr a. Borrower that the insurance carrier alien to settle a claim for insurance benefits, 1_ender
authorized to collect and apply the inwrance proceeds at Lender's option either to restoration or repair of the Property
ur to rtes sums secured he rtes, Murtgag~.
L:nlesc lender :,rid Borrower otherwise agree in ssriting, am such application of proceeds to principal shall not extend
w postpone the due date of rtes monthh• installments rcfcrrrd to i:, paragraphs 1 :,rid 2 hereof or change the amount of
such installments. It under paragraph 18 hereof the Prapcrn is acquired by Lender, all right, title and interest of Borrower
:n and to am inwrancc policies and in and to rtes proceeds thereat resultine from damage to the Properly prior to the sale
or acyuisition shall pass to Lcndcr to the extent of the sums secure) b} this :lfortgagc immediately prior to such sale or
acyuisition.
6. Precenation and 1laiotenance of Propcrls: Leasehold,: Condominiums; Planned Unit Develupmcnts. Borrower
shall keep the Property in goad repair and shall Hat commit waste or permit impairment or deterioration of stet Property
and shall comply with the provisions of any lease rf this Mortgage rc un a Ie:asehuid. (f this ittartgage is on a unit in a
condominium ;ir a pianued amt deceA+pment, Burrower shall perform all of Borrower's obt,gatians under the declaraUan
ur covenant. cre:,tins or guvcr~ng the randum,nium or planned un?t develupmem, the by-laws and regulations of the
cvn~ominnrm or planned unit devciupmcnt, and constituent documents. If a condominium or planned unit devclapment
rider is executed by Horn+wer and recorded together with this Mortgage, the covenants and agreements of such rider
,hall tx: rncorpurated :nta and shall am•_nd and supplement the covenants and agreements of this Mortgage as if the rider
were Hart hereof.
7. Protection of (.enders Security. If Harrower talk to (x'rtatm the covenants and agreements contained in this
blurtgagc, ur if any acuun or procee~hng rs cummen~ed wfiich materialh• affects Lender's interest in the Property,
inrludmg. but :got Ranted ta, eminent damam, insolvency, axis cntorrcment. ar arrangements or prareedings involving a
bankrupt ur decedent. then Lcndcr at Lender's option, upon notice to Borrower, may make such appearances. Disburse such
sums and take such action as is ne.essan to protect Lender's interest, including. but not limited to, disbursement at
reasonable attorney's tees and entry upon the Pnpcny to make repairs. II Lender required mortgage inwrance as a
condition of n.;,kmg rtes lawn secured by this Mortgage. Borrower shall pay the premiums required to maintain such
t_^.surance in effect until wch :ime as the rcyuirenterrt for ,uch rnwrance terminates in accordance with Borrower's and
er;`~c 327 ~esE x.967 ~ - , ,
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