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UNIFORM. COVENANTS. Borrower and lender Covenant and agree as follows:
,1. Pa~nnaM of principal and Intarrat. Borrower shall promptly pay when due the principal of and interest on the
indebtedness evidenced by the Nota, prepayment and late charges as provided in the Note, and the principal of and interest
on any Future Advances secured by this Mortgage.
Z. Rands tot Tara and tnsunnce. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
to Lender On the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full,
a sum (herein "Ftinds'~ equal to one-twelfth of the yearly taxes and-assessments which may attain. priority over this
Mortgage. and ,ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance,
plus one-twelfth Otyearly premium installments for mortgage insurance, if any all as reasaonablyestimated initiallyand from
time ti) time by Lender oh the basis of assessments end bills arM reasonable estimates thereof. ~ '
The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
state agency including Lender if Lender is such an institution). Lender shall apply the Funds topaysaid taxes, assessments,
insurance 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 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 be paid to Borrower, and unless such agreement is made or applicable law
requires such interest to be paid. ~end~r,s~all npt be requited tc~ ply, 8 mower any interest ~!t e~~nings pr the F,ylyds. pder
shall give to Borrower, without charge, ah annual accounting of the F~nds'sh'owing credits'~nd debits to the FtiAds acid the
purpose for which each debit to the Funds was made. The Funds are pledged as 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 Fun~7s payable prior to
the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
assessments, insurance premiums and ground rents as they tall due, such excess shalt be, at Borrowers option, either
promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. It the amount of the Funds
held by Lender shelf ho$be'sufAblAn~ io 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 Borrow@r requlesting payment thereof.,
Upon paymer{t Irl lull of stir sums secl+f~ iO,y~jbis YVlortgage.. LenSiet: shall protnp y refund to Borrower any Funds
held by Lender. It and@~ paragr`apti 18 hereof,(he:froper~yis ~oJd Qr ttie Property IS'othe~ise acquired by Lender, lender
shall apply, no later than +rrimediately prior to~hesalet of the party or ifs acquisition by Lender, any Funds held by
Lender at the time of applicatinA as a`ctgdit agai+~tst ttta!kurnsfsbcured by this Mortgage.
3. Application of Payments. Unless applicable taw provides otherwise, all payments received by Lender under the
Note and paragraphs t 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 Advances. .
4. Char~pes; Liens. Borrower shall pay all taxes, assessments and othercharges, fines and impositions attributable to
the Property which may attain a priority ove? this Mortgage, and leasehold payments or Bound rents, if any, in the manner
provided under paragraph 2 hereof or, it 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 prompty discharge any lien which has priority over this Mortgage; provided, that Borrower shaft 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 lendet, or shall in good faith contest such lien by, or defend enforcementof such lien in,
legal proceedings which operate to prevent the enforcement of the Lien or forfeiture of the Property or any part thereof.
S. Hstan! Inwrance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
against Toss by fire, 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 require; provided, that Lender shall not require that the amount of
such covereaae,exc~eeci that amount of coverag equire~;(o pay tfie, sutn secured by this~~~MMortg~~gg~~., ~ ,
The ins'tl~ance`tyamerproviding the insuran~e shall be chosen by B~Orrobver subject tblappro4a11'by LentlerproviFded,
that such ~pproV~f shalt n01 b9 unrAasbnablj~ witAheld: 'Iktt premiurtis ort ih~uraflCe~tfolici~s shat( b~ paid in the manner
provided under paragraph 2 hereof or, if not paid-ir: sugh_mander, bjr Borfowerrttatcing~payhneht, when dtse: directly to the
insurance carrier. -
• All insurance policies anQ renewals thereof shall be in Corm acceptable to Lender and shall include a standard mortgage
clause in favor of and irY tbrm`acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof,
and Bortower shall promptly famish to Lender all renewal notices and alt 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 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 it 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. It the Property is abandoned by'Borrower, or if Borrower tails 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 fot insurance benefits, Lender
is authorized to collect and apply the insurance proceeds at Lender's op?ipn_,either to,restoratipp or repair of the Property
or to the sums sgcured by-this Mortgage. ~ -
UMess Leride~ and Bohowerotherwise~agree irlvirritirig, anyisbch atrpplicatien of proceeds to ppr~incipal shat) not extend -
or postpone the due date of the monthly installments referred to in paragraphs) gild 2 hereot~at'ctlarige the amount of
such installments. If under paragraph 18 hereof the Property is acgwred by Lender, all right, title and interest of Borrower
in and to any insurance 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 secured by this Mortgage immediately prior to such sale or
acquisition.
a. Preservsltars a:ad Malntenar:ce of Property; Leaseholds; Condoinlnlums; Planned Unit Developments.
Borrower shall keep,the Property in good repair and shall not commit waste or permit impairment or deterioration of the Pro-
perry and shall com~pty with the provisions of any lease if this Mortgage is on a leasehold. It this Mortgage is on a unit in a
condominium or a planned unit development, Borrower shall perform all of Borrowers 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. II a condominium or planned unit development
rider is executed by,Borrower and recorded together with this Mortga g, the covenants and agreements of such rider
shall be ?i4Cbt~pbratedtrito and 9fialt amend and supplement the Cbvena~lS and agreements of this Mortgage as ii the rider
were a part hereof.
7. Protection of Lender's Security. If Borrower tails to perform the covenants and agreements contained in this
Mortgage, or if any action or proceeding is commenced whiyh;materialgr_affects Lenders interest in the Property.
including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
bankn~pt or decedent, then Lender at Lenders 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, disbursements of
reasonable attorneys tees and entry upon the Property to make repsirs. If Lender required mortgage insurance as a
condition of making the loan secured by this Mortgage, Borrower shah 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
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